Incorporation isn’t as difficult as most people think. With Rocket Lawyer, all you need to do is answer a few simple questions and we do the rest. That means we’ll check to make sure your business name is available, file all your paperwork, store your documents online, and make sure you can access all the legal help you need.
Corporate bylaws define a corporation’s purpose, how it will operate, and the duties and responsibilities of the people who own and manage it. They also let you specify shareholder ownership rights, select officers and directors, plan annual meetings, and establish how to remove officers or directors. Corporate bylaws also describe how stock is issued by the corporation. Corporate bylaws are sometimes called corporation bylaws, company bylaws, or a bylaws template.
To maintain your corporate status, all states require your corporation to meet certain business formalities. Corporate minutes record those official actions so you can maintain your status. It’s essential for your business to record corporate minutes for all official shareholder and board of director meetings. This document is sometimes called a meeting minutes format, meeting minutes, or corporation minutes.
A Corporate Resolution is the record of any major decision made by shareholders or a board of directors during a meeting. Basically, what happens at any important corporate meeting is that a group of individuals—typically, the board of directors—decide the direction the company should take. Perhaps it should buy a smaller business, take out a loan, or buy property. These actions are voted upon and a Corporate Resolution serves as documentation of the decisions made.
Use the Corporate Resolution document if:
- You need to record a decision made at a board of directors meeting.
- You want to document a decision made by shareholders of a corporation.
Corporate Resolutions can cover a wide variety of actions. Commonly, they are written when a new member of board is voted in, but they can also be created when the company wants to hire employees, sell shares of the corporation, purchase an existing patent, among other big decisions. They serve as important compliance documents as well as giving your company a concrete record of the choices your directors or shareholders have made.
Generally, Corporate Resolutions do not need to be submitted to a government agency, oversight body, or anything of the sort. They should be kept with your books so you can furnish them if, for example, an important shareholder wants to know what actions the board took on his or her behalf. Corporate Resolutions can be kept with your Meeting Minutes and are treated as legally binding decisions made by your S- or C-Corp.