The main advantage that corporations have is.

Limiting liability for owners and stockholders.

Explanation: Corporation is a way of referring to large companies or even organizations seen as mechanized with a greater focus on profit and less or nonexistent to people. A group of people who act as if they were one body, one person, seeking to achieve common goals subject to the same rules.  

In economic terms, corporation features a specific means of organizing production and making profits in order to maximize efficiency and minimize transaction costs.

answer: you could try asking a family member maybe?

monarchy doesn’t have to have the hereditary element. there have been elective monarchies in the past where you choose your king-for-life and when he dies elect someone else for the job.