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Tag: shareholder disputes

Self Sabotage: When You Incorporate Without A Lawyer

So you looked up a few websites on incorporating, stumbled upon the government sites for filing articles of incorporation and decided to fill in the forms and submit.  You pay the same filing fee your lawyer would and think you just did “their job” for nothing.  Well, what you did was a disservice to yourself and your partners/shareholders.  Most startups need to save money, but the last place you need to skim is when setting up your business structure.  Most startups who incorporate themselves stop with the articles of incorporation, never providing for the basic necessary resolutions and by-laws commonly found when first incorporating, not to mention maintaining a proper record of your shareholders, directors, officers, shares issued and redeemed, as well as the capital invested.Why is this important?  Well, you may be thinking that because you haven’t even started any type of business operation or completed whatever it is you are building that focusing on anything other than the “name” is a waste of time.  Did you know that technically without issuing any shares by receiving whatever notional amount on startup in exchange for actual shares issued evidenced by a share certificate, the company does not yet exist?

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