How To Incorporate A Business ?
There are several steps involved in the incorporation of the business and a lot of it depends on the type of incorporation you want. There 3 types, in the state, out of state, and foreign incorporation. The more complex the process is the more expensive it is. Maximum number of businesses incorporates their business sin the area where their main business is conducted.
The next step is to enter into pre-incorporation agreements with the partners or the founders of the business and on who is going to be in the board of directors and who is going to be buying the stock. Determining the price of the stock is very important at this point of time.
The business also has to decide a name for the incorporation and needs to file an application with the Secretary of State’s office. Sometimes the name for the incorporation may already have been taken and you will need to come up with a new name. This could delay the process a bit and one has to be smart about deciding the name.
An article of incorporation has to be prepared based on the specific instructions received from the Secretary of State’s office and then the business will receive the certificate of incorporation.
The number of people who have been legally qualified by the incorporation would need to sign the certificate and officially declare that it has been incorporated.
The company would also need to hold a shareholder’s meeting to introduce the board of directors.
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