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The business arena in America operates on a daily assortment of legal forms. There are more legal forms in use in American business than are used in the operations and government of many foreign countries. The business corporation is not immune to this flood of legal forms. Indeed the operation of a corporation, in general, [...]

The planning stage of incorporation is vital to the success of any corporation. The structure of a new corporation, including the number of directors, number of shares of stock, and other matters, must be carefully tailored to the specific needs of the business. Attorneys typically use a pre-incorporation worksheet to assemble all of the necessary [...]

The central legal document for any corporation is the Articles of Incorporation. In some states, this document may be called a Certificate of Incorporation, Charter of Incor¬poration, or Articles of Organization. Please check the appendix for the requirements in your particular state. This form outlines the basic structure of the corporation and details those matters [...]

The bylaws of a corporation are the third part of the triangle that provides the framework for the management of the corporate business. Along with state law and the Articles of Incorporation, the bylaws provide a clear outline of the rights and responsibilities of all parties to a corporation. In particular, the bylaws provide the [...]

The board of directors of a corporation transacts business as a group. Each individual director has no authority to bind the corporation (unless the board of directors as a group has previously authorized him or her to exercise that power). Even in a corporation with a single director, there must be formal records of meetings [...]

The main responsibility of the shareholders of a corporation is to elect the directors of the business. This election is conducted at the annual meeting of the shareholders that is held on the date, time, and place as specified in the corporate bylaws. In addition, specific corporate business at other times of the year may [...]

Corporate resolutions are records of official acts of either the shareholders of the corporation or the board of directors. They are a permanent record of actions taken by either of these bodies as a group. In most situations and for most corporations, a majority vote of the directors or shareholders present at an official meeting [...]

Corporate Stock
Corporate stock represents the money or property that is invested in a corporation. It is a representation of the share of ownership in a corporate business. When a corporation files its Articles of Incorporation with the state, it states how many shares of stock it will be authorized to issue (for example, 500 shares).

The legal forms in this chapter cover a variety of situations that arise in the area of employment. From hiring an employee to subcontracting work on a job, written doc¬uments that outline each person’s responsibilities and duties are important for keeping an employment situation on an even keel. The employment contract contained in this chapter [...]