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

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Offshore Financial Centre

A jurisdiction that provides investors with legal frameworks for protecting their personal assets. Delaware is the best Offshore Financial Centre, and with its guarantee of confidentiality, and flexibile LLC structure.


Operating Agreement

The private, flexible contract between Members of an LLC that governs the creation, management, and daily affairs of the LLC.


Operating Company

A separate company that owns assets and then leases these assets to a Managing Company for actual use.


Organizational Meeting

The initial meeting of the initial directors wherein the board of directors is appointed, and the bylaws are adopted.



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


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Since 1981, Harvard Business Services, Inc. has helped form 406,559 Delaware corporations and LLCs for people all over the world.

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