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?
Tuesday, December 5, 2017
At 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
Tuesday, November 21, 2017
A 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
Tuesday, November 14, 2017
One 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
Tuesday, November 7, 2017
Both 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?
Monday, November 6, 2017
Many 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?
Monday, October 16, 2017
In 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?
Tuesday, October 3, 2017
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
Tuesday, September 19, 2017
Typically, 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
Monday, September 4, 2017
The 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
Tuesday, August 22, 2017
A 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