What limitation exists for entities seeking to form a corporation?

The limitation that exists for entities seeking to form a corporation is that it may include various types of entities. This means that the Revised Corporation Code allows for a range of individuals and organizational forms to come together to create a corporation. Different types of entities, including natural persons (individuals), corporations, and other legal entities, can participate in the formation process, expanding the scope of who can establish a corporation.

This inclusivity supports the idea that corporations can be formed by various stakeholders, not restricted only to particular groups or types of individuals. Thus, the flexibility in allowing diverse entities to form a corporation is a significant aspect of the revised provisions within the Corporation Code.

In contrast, the other choices limit the options available for forming a corporation in ways that do not align with the law's broader provisions. For instance, the notion that only certain individuals can form a corporation would imply exclusivity that contradicts the aims of promoting business formation. Similarly, suggesting that all organizations must be for-profit entities fails to recognize that non-profit corporations also exist and are governed under the same framework. The idea that a corporation can only be formed by partnerships is also inaccurate, as it overlooks that individuals and various other entities can collectively form a corporation.