Life perpetual is an unlimited duration of a business entity. It is often referred to as no time limit or infinite lifespan, meaning the company can continue to exist indefinitely as long as it meets all requirements set forth by law. On the other hand, periodic life refers to an established time frame in which a business entity is legally allowed to operate. At the end of this period, the company will either renew its license or dissolve. Life perpetual companies are more often found in the public sector while periodic life businesses are commonly seen in the private sector. No matter which approach you choose, proper structures and processes must be in place to ensure a professionally run organization.