Under the Revised Corporation Code, what is the duration of a private corporation?

The duration of a private corporation under the Revised Corporation Code is characterized by its perpetual existence, meaning it can continue indefinitely unless specified otherwise in its articles of incorporation. This provision allows corporations to operate beyond the typical limitations and provides stability for long-term planning, investments, and operations.

If a corporation wishes to impose a limited duration, it must explicitly state this intention in its articles of incorporation. However, the default rule is that a private corporation is considered to have perpetual existence. This feature is particularly advantageous as it allows for continuity in ownership and management, avoiding the disruptions that can arise from renewals or expiration periods.

In contrast, the other options incorrectly suggest limitations on the lifespan of a private corporation, either specifying maximum terms or requiring renewal, which do not align with the framework established by the Revised Corporation Code.