Time for Your Company Document Legal Review

When was the last time you looked at, let alone reviewed, your company documents like your Articles of Incorporation, Bylaws, Operating Agreement, or Partnership Agreement. Of course, depending on your situation and how long you have been around, you should also have a few Resolutions, Minutes of your Board and Shareholder meetings, perhaps a Buy-Sell agreement, a Shareholder Agreement, Stock Certificates, and so on.

Types of Businesses

There are three types of businesses generally. First, there are businesses that were formed with […]

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Top Seven “Optional” Provisions to Include In Your Articles of Incorporation: Number 5

The Articles should specify the necessary number of shares for a quorum of shareholders, as well as the required vote for making various decisions. Generally, quorum will be a majority of the shareholder’s entitled to vote, and a decision will be made by a majority. While a quorum cannot be less than one-third of the shares entitled to vote, quorum and voting requirements can be increased by the Articles, or the Articles can give the Board of Directors the power […]

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Revisiting Formational Documents

Many businesses put together basic documents like an Operating Agreement, Partnership Agreement, Bylaws, Articles of Organization or Incorporation, and the like years ago when they started. Since then, they have changed one or more owners or employees, gotten older, doubled or more in revenue, or a whole host of other possible changes. Sometimes the original advisors have retired or dropped out of contact.

Regardless, the business has more to protect and work with than it did back when…. In fact, […]

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Following Corporate and Entity Formalities—Summary

Guidance from Company Documentation

Because corporations and limited liability companies are separate entities, the formalities are the very thing that establishes that the entity is actually operating independently. Observing the formalities is important for the protection of the entity, and all of the people involved in the various roles and functions of the company. The articles of organization or incorporation, the bylaws and operating agreement, along with any resolutions, area the guide for how the persons in the company can comply […]

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