Articles of Incorporation
A staple of the American economic process, the corporation defines the American financial structure to business. The corporation takes shape in many forms; it is not just about a business structure; rather, a corporation can be a non-profit organization as well. Some examples are Cooperatives, Joint-stock companies and even statutory corporations. Businesses come and go and disappear constantly; it is the way of life especially for the American small business.
Have you ever thought about living the American dream? Is starting a business a serious thought for you? Then do you know about the paperwork involved in starting a corporation? For starters, a corporation must undergo what is called a filing of Articles of Incorporation.
This document is vital for a new corporation. These articles are used to determine and establish some set of rules for it. This is an extremely important aspect of forming a business at this level.
The Articles of Incorporation is considered the charter of a corporation which establishes the reason for the enterprise. Other important factors are provision of the company name and a list of the incorporators and kinds of stock that can be used.
Limited Liability Companies and Partnerships undergo the very similar procedure as the corporation when it comes to establishing the entity. In many states the formation document instead of Articles of Incorporation is called Articles of Formation. But unlike corporations there may be many local laws which govern the procedure. For instance, in the New York City, once the initial filing was submitted the fact must be published in two local newspapers which must be designated by the County Clerk.
In the United States of America each state has a unique process for almost everything compared to the Federal level. The corporate model is no exception too also each state approves the articles differently than another state. States can also intervene when naming the business. If a name is too close to another businesses’ then the title for the company will not be used. This sometimes is purposeful. Forming a corporation is difficult so names can be given a so called test run; that is, companies can try names on for size to see if they “pass” or are approved for use. Other uses for the Articles are for Non-profit requirements or religious ones as well as educational and public service areas.
Some of the basic processes or rules are that the paperwork is signed by the incorporating person or by several individuals if there is more than one. Sometimes even the first board of directors can step in to sign. In the realm of the corporation there are more particular regulations. For example, if stock is to be issued, there is a specific application to fill out with the Securities and Exchange Commission.
If you are seeking copies of these documents then official, certified copies are needed. The copies must come from the same state that produced the original document where the Corporation or LLC had been registered.