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The corporation is an artificial entity. It is created by filing Articles of Incorporation with the proper state authorities. This gives the corporation its legal existence and the right to carry on business. The Articles of Incorporation act as a public record of certain formalities of corporate existence. Upon filing of the Articles of Incorporation, payment of the proper fee, and acceptance by the state corporation department, the corporation officially begins its legal existence.

Do all employees need to have Employment Agreements? It is not a legal requirement that employees have written agreements with their employers spelling out the terms of their employment. However, it can often be sound business practice, both for employer and employee, to have a written Employment Agreement, spelling out the terms and conditions of employment.

What is a limited liability company? A limited liability company is a hybrid legal entity, with elements of the structure of both corporations and of partnerships. Its organization is similar to a corporation, but it enjoys many of the operational and tax benefits of partnerships.

While the limited liability company is a relatively new type of legal entity (first recognized in the U.S. in 1977), all 50 states and the District of Columbia have now passed legislation authorizing the creation of LLC’s.

What is a trust?
A trust is a legal construct used for holding, transferring or otherwise disposing or property. It consists of assets given to it by a Grantor (the person who creates the trust) which are managed and distributed by a Trustee to benefit one or more Beneficiaries (those persons or organizations who will receive property under the trust).

What is a lease?
A lease is an arrangement by which a lessor agrees to grant a lessee the possession and use of a particular piece of property for a specified period of time. The Lease Agreement between lessor and lessee will contain the terms of this arrangement, including the amount of rent and/or security deposit to be paid by the lessee, a description of the property being leased, the duration of the lease period, and the rights of the lessee to assign the lease or to sublease the property.

Long gone are the days when business was done with a firm handshake and a verbal agreement. Legal forms and documents are a must nowadays for everything from rentals to health care. The downside? Everybody knows that lawyers can be expensive. But with the right tools, you can save hundreds – even thousands – of [...]

Letters of recommendation are powerful things – and in an economy with unemployment as high as it is in 2011, they’re worth a lot more than the paper they’re printed on. Generally, if you write a letter of recommendation, you’ll want it to strike a particular note or tone that helps someone’s chances at getting [...]

There are certain written sales transactions that occur all the time. Real estate sales, automobile purchases, and boat sales certainly come to mind. Finding the right legal forms to ensure a seamless legal transaction in these cases is not a big challenge: the right forms are easy to look up. But some sales aren’t so [...]

It’s one of the most powerful tools in everyone’s legal arsenal: written consent. Reality TV shows require written consent to broadcast certain footage; other people are able to use royalty-protected songs and trademarks with written consent. It is essentially “legal permission,” and without it, you can find yourself in very deep water indeed. But let’s [...]

For a lot of people, the word “affidavit” doesn’t have a lot of meaning. They might have heard it on a legal TV show once, or they might have heard one of their lawyer friends mention it in passing. But the truth is there are a great deal of people out there who know exactly [...]