Glossary of Corporate Terms

If you're getting ready to launch a new business, chances are you know your product or service and your market like the back of your hand. But the mechanics of forming a business entity-knowing the terminology-may be more difficult to understand.

To help you sort through the terminology, Harvard Business Services, Inc. has included a comprehensive glossary to help guide you. To use the glossary, match the first letter of the term you want to look up with the alphabet list below, and click on that letter.

Of course, our team of business formation professionals is standing by to help you make informed decisions if you need more information.

A B C D E F G H I L M N O P Q R S T U V Z

Incorporator

An individual or entity that incorporates a Corporation on behalf of a client by filing the necessary formation documents with the Secretary of State and returning them to the client. Normally, the incorporator is the Corporation’s registered agent.

Indemnification

The act of holding another party harmless for any claims that are brought against that party.

Integrated Estate Planning

A comprehensive asset protection plan that involves estate planning, domestic and international trusts, and multiple-entity strategies.

IRS Form 1023

A form required by IRS to apply for tax-exempt status.

IRS Form 1040

A form required by IRS to file annual income tax return for individuals.

IRS Form 1065

A form required by IRS to file annual income tax return for partnerships.

IRS Form 2553

A form required by IRS to elect Subchapter S tax status for a general or close corporation.

IRS Form SS-4

A form required by IRS to apply for a Federal Tax Identification Number.

Issued Shares

Those common and preferred shares that a Corporation chooses to issue to its existing or potential shareholders.