Articles of Incorporation

Articles of incorporation are a founding document for a corporation. It is required by most states. It’s like a birth certificate but for a business.

Description

Articles of incorporation are a founding document for a corporation. It is required by most states. It’s like a birth certificate but for a business. They serve a few key purposes:

Legal Formation: This is the core function. Filing articles of incorporation with the state officially creates the corporation as a legal entity separate from its owners. This separation offers some important benefits, like limited liability protection for the owners (their personal assets are generally shielded from business debts).

Public Record: The articles become part of a public record, providing basic information about the corporation for anyone to access. This includes things like the company name, location, and who is authorized to receive legal documents on behalf of the business.

Basic Framework: The articles lay out the corporation’s fundamental structure. They typically specify things like the purpose of the business, the number of shares that can be issued, and the procedures for electing directors.

It’s important to note that articles of incorporation are not the same as bylaws. Bylaws delve deeper into the corporation’s internal governance, outlining things like how meetings are conducted and officer duties. Articles and bylaws together form the foundation of a corporation’s legal existence and operation.

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