About Corporations

Companies planning to go public one day will typically form general corporations. In these blogs, we explain all you need to know.

What Is a Banking Resolution Document? By Devin Scott Tuesday, December 5, 2017 what is a banking resolution documentAt the first meeting of the members (for an LLC) or the Board of Directors (for a corporation) establishing a company, a resolution about banking details is often included. Although a company may agree on several different types of resolutions during the meeting, the banking resolution is often the most commonly extracted resolution from the general minutes of the meeting... Read More
Non-Profit Corporation vs Public Benefit Corporation By Rick Bell Tuesday, November 21, 2017 non-profit vs benefit corpA traditional non-profit—or not-for-profit—company aims to serve a public benefit without making a profit, as defined by the IRS. If a non-profit company decides to stop doing business and dissolve, it must distribute its assets among other non-profits... Read More
Certificate of Incorporation: Delaware By Devin Scott Tuesday, November 14, 2017 Certificiate of Incorporation DelawareOne of the many benefits of forming a Delaware corporation is that the Directors’ names are not required to be listed on the Certificate of Incorporation... Read More
Mission Statement vs Benefit Statement By Devin Scott Tuesday, November 7, 2017 mission statement vs benefit statementBoth Public Benefit Corporations and Non-Profit Corporations require additional language on the Certificate of Incorporation, in the form of a Benefit Statement (for a Benefit Corporation) or a Mission Statement (for a Non-Profit Corporation). There are typically differences in the language in these two statements... Read More
What Are a Corporate Secretary’s Responsibilities? By Meri Weiss Monday, November 6, 2017 what is a corporate secretaryMany people think a Corporate Secretary’s role is merely to take and record meeting minutes. While doing so is, indeed, one of the Corporate Secretary’s responsibilities, it is nowhere near the entirety of this pivotal role... Read More
How Important is Corporate Indemnification? By Brett Melson Monday, October 16, 2017 what does Corporate Indemnification meanIn a corporation, the scope of indemnification can vary, depending upon the terms of the corporation’s charter and bylaws, but only within certain parameters prescribed by the Delaware corporate law and judicial precedent... Read More
What Is a Non-Stock Corporation? By Paul Sponaugle Tuesday, October 3, 2017 what is a non-stock corporation?The common use of the non-stock corporation as the vehicle with which to obtain tax-exempt or non-profit status from the IRS has led to an interchangeability of the two terms, but this can be problematic... Read More
Everything You Need to Know About Stock Transfers By Devin Scott Tuesday, September 19, 2017 what to know about stock transfersTypically, people hand a stock certificate to a shareholder and then document the exchange in the company's stock transfer ledger, which is utilized to properly record the transfer... Read More
Why Venture Capitalists Prefer Delaware C-Corps By Meri Weiss Monday, September 4, 2017 Why Do Investors Prefer Delaware C CorporationsThe first requirement of every serious investor, angel investor and Venture Capitalist is the same: your company must be a Delaware C corporation before they will even consider investing in it... Read More
Advantages of a Delaware Close Corporation By Devin Scott Tuesday, August 22, 2017 advantages of a close corporationA General Corporation can have as many shareholders as it sees fit. With a Close Corporation, there are restrictions on the sale or transfer of stock. The sale or transfer of stock in a Close Corporation can be restricted by the Right of First Refusal clause... Read More