About Corporations

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

Non-Profit Corporation vs Public Benefit Corporation By Rick Bell Monday, May 16, 2022 non-profit vs benefit corpUnlike a non-profit company, a PBC may be first and foremost engaged in a profitable enterprise of a very different nature from its mission, such as making food products, engaging in real estate investments or any other for-profit enterprise... Read More
What Is The Role of a President of a Corporation? By Michael Bell Monday, April 11, 2022 what does the president of a company doThe person who is President of a company is in the highest position within an organization and, in some cases, takes on the title of Chief Executive Officer as well... Read More
What Does a Corporate Secretary Do? By HBS Tuesday, April 5, 2022 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
What Is the Role of Officers in a Delaware Corporation? By Brett Melson Tuesday, March 15, 2022 What do Officers in a Delaware Corporation doDelaware law mandates that an officer of the corporation must be an individual and cannot be another entity; however, Delaware does not have restrictions in place about who can serve as an officer in a corporation... Read More
Mission Statement vs Benefit Statement By Devin Scott Tuesday, March 1, 2022 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
Delaware Corporation Directors Cannot Be Undisclosed By Rick Bell Tuesday, February 8, 2022 can board of directors be anonymousOn the Delaware Annual Franchise Tax Report, all corporations must list their Company Name; Company Address; Names & Addresses of all Directors; Name & Address of one Officer... Read More
Advantages of a Delaware Close Corporation By Devin Scott Tuesday, February 1, 2022 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
Banking Resolution Document - Definition and Templates By Devin Scott Tuesday, December 28, 2021 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 corporate 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
Delaware Timetable for Dissolving Your Corporation By HBS Monday, November 29, 2021 Corp DissolutionWhen it comes time to file a Certificate of Dissolution, you may file the documentation with the Delaware Secretary of State directly or you may request that Harvard Business Services, Inc. assists you. Harvard can dissolve your corporation within 3-5 business days... Read More
Delaware General Corporation Structure By Rick Bell Tuesday, November 9, 2021 structure of a general coporationThe Delaware general corporation is the strongest company structure in the U.S. It offers a means to raise capital, has three tiers of power and follows bylaws. The bylaws of the company set forth the powers and the limits of power in each of the three tiers. Each group may have separate priorities, and they may clash occasionally... Read More