Final answer:
Corporations often outlast sole proprietorships or partnerships because they are separate legal entities, offer limited liability to owners, and have unlimited lifespans, with easier capital raising through stocks and bonds.
Step-by-step explanation:
Corporations often exist longer than sole proprietorships or partnerships due to their unique legal status as separate legal entities. This means they have rights and responsibilities similar to an individual; they can sue, be sued, and
enter into contracts. The limited liability protection afforded to their owners means personal assets are generally not at risk if the corporation incurs debt or legal issues.
Additionally, corporations can easily raise capital by issuing stocks and bonds, allowing them to leverage more resources for growth and stability.
As legal entities, corporations also have an unlimited life span, since their existence isn't tied to the life of an owner, as is the case with sole proprietorships and partnerships.