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The shareholders are the persons or other business entities who actually own the corporation. The corporation ownership is divided into shares of stock in the corporation. Each share may be sold to shareholders who are then issued a stock certificate that represents their ownership of a percentage of the corporation, represented by numbers of shares [...]

As explained in our Shareholders of an S-Corporation article, directors are elected by the shareholders at their annual meetings. Please note, however, that in the forms available on our site, the initial board of directors is specified in the Articles of Incorporation which are prepared and filed with the state. This listing of the directors [...]

To the officers of a corporation fall the responsibilities of running the business. Their powers, however, are dictated solely by the board of directors. Officers can be given very broad powers to transact virtually all business for the corporation, or they can be tightly limited in their authority. A single shareholder can act as both [...]

Limited liability companies are a relatively new form of business organization, first recognized in the United States by the State of Wyoming in 1977. Since then, legislation has been enacted in all 50 states and the District of Columbia (Washington D.C.) to allow businesses to organize as limited liability companies. A limited liability company is a separate legal entity, as is a corporation. The business structure is actually a hybrid type of business entity–between a corporation and a partnership. It is organized in a fashion similar, but not identical to, that of corporations.

TABLE OF CONTENTS Applicant Screening and Hiring Application Rejection Employment Termination and at Will Employment Independent Contractors There are a variety of considerations that a business will face in the course of hiring, employing, and terminating its employees. This discussion will provide you with a brief overview of the legal issues that you must consider [...]

An Advance Health Care Directive is a set of documents consisting of a Power of Attorney for Health Care and a Living Will, that allows you to make decisions about future health care issues, by allowing you to give health care instructions, select a health care agent or do both. By using an Advance Directive, [...]

An indemnity agreement is a contract where one party agrees to protect another party against certain future claims or losses. For example, suppose Jack would like to enter into a contract with Jill to build a playground, but Jill is hesitant because of the potential future liability of such an endeavor. In this case, Jack [...]

Whenever you sell any personal property to another person, it is a good idea to document the transaction in writing. A General Bill of Sale can be used for that purpose by anyone selling any item of personal property (i.e. lawnmower, computer system, furniture, electronics equipment, art piece etc…). It can help both the Seller [...]

There are many names for Contract for Deed. It is sometimes known as a Land Contract, an Agreement for Deed, a Contract Sale or Real Estate Installment Agreement. This type of Agreement is useful in situations where the Buyer can’t easily obtain financing from other sources or other financing may not be even available to Buyer. [...]

A Living Trust is the cornerstone of any comprehensive arrangement to plan for the distribution of your property upon your death. In this guide, the basic qualifications for having a Living Trust are outlined. Various other estate planning tools which may be useful in certain situations are also detailed. Finally, an overview of the steps you will take in preparing your own Living Trust is presented.