For a mid-sized medical device company like you have described (50 people & approx. 10 million in revenue), there are a few benefits that a company like this could get from becoming an “Inc.” versus an “LLC”. First would be the ease associate with getting loans or credits, which get then be used to acquire more assets or even buy another company. Although an “LLC” can also get loans being recognized as an “Inc” would make it even easier to get larger loans which could help the company grow. Another benefit would be the potential to have people outside of the US invest in the company which cannot be done with an “LLC”, providing another way in which the company can raise money and become larger. As an “Inc.” you also hold the ability to go public and make even more revenue selling company stocks.