When a business is incorporated, a legal person is created that is separate and distinct from its owners. Like individuals, a corporation can enter into contracts, lend and borrow money, sue and be sued, and own property.
A company is incorporated by filing articles of incorporation with the government. Articles of incorporation are a document that establish the existence of a corporation. Once the articles of incorporation are approved, the company will receive a certific
Corporate maintenance refers to two ongoing legal obligations of a corporation. The first is the filing of relevant government forms to keep the corporation’s information up to date with the government registry. The second is the preparation of certain do
Owners of a corporation are referred to as “shareholders”. Shareholders own shares in the corporation, which are the units of ownership in a corporation. A shareholder may own shares of a corporation without any involvement in its management or day-to-day
A director or, if there is more than one, the board of directors, are the highest level of management within a corporation. Private for-profit corporations are required to have a minimum of one director, who may also be the sole shareholder and officer. T