Join Dana Robinson for an in-depth discussion in this video Forming a corporate entity, part of Setting Up Your Small Business as a Legal Entity.
- How do you actually form a corporation or LLC?…Well, a corporation is formed by…filing Articles of Incorporation.…These are filed with the Secretary of State for the…particular state where you want to use the entity.…This can be done online in many states for $100 or less.…Most states also have pre-made forms…that are very easy to complete.…Once these Articles of Incorporation are filed,…then the corporation has a meeting…of its incorporators and appoints directors.…
The director might just be you or you and your partner.…The directors then issue shares and adopt bylaws.…Once shares are issued, then the shareholders have a meeting…to ratify the organization, the bylaws, the articles,…and appoint directors to serve for the ensuing year.…This process is known as "incorporation."…The initial meetings are often referred to as…the initial minutes of the company.…The minutes themselves are not…normally real, actual minutes of a meeting.…They're forms that are followed in order to…observe the corporate formalities.…
DISCLAIMER: This course is taught by an attorney and addresses US law concepts that may not apply in all countries. Neither LInkedIn nor the attorney teaching the course represents you and they are not giving legal advice. The information conveyed through this course is akin to a college or law school course; it is not intended to give legal advice, but instead to communicate basic information to help viewers understand the basics of intellectual property.
- What is a sole proprietorship?
- Understanding corporate entities
- Exploring corporations and LLCs
- Choosing a corporate entity
- Creating an operating agreement
- Exploring incorporating examples
- Establishing an IRS tax ID