What major advantages of corporations have given rise to their dominance as a form of business organization?

They are a seperate legal personality and therefore have similar powers to a natural person. They can sue and be sued, they can have legal rights and ownership of property and assets in the name of the company, they can commit crime and be a victim of crime. They offer the shareholders limited liability and therfore people are willing to invest in them because they know they will only be liable for their unpaid share capital even in the event of liquidation and there being insufficient assets to pay the creditors. Corporations put your business into a protected bubble basically. People are more trustworthy of taking up business with a company than a person or sole trader due to the detailed laws and regulations they have to follow. You are less likely to be ripped off by a company than you are an individual. It gives some sense of security trading with a company.