When a group of persons decide to form a corporation, an incorporation document is necessary to fully define the roles and responsibilities of each member of the corporation. Incorporation documents contain the primary rules that govern the management of the corporation and filed under the Securities and Exchange Commission or any governing agency depending on the country and its government policies. At Best Templates, we give you Well-Researched, Professionally-Drafted, Industry-Compliant Incorporation Document Templates that your company can use for its legal documentary requirements.
A company’s articles of incorporation contain the company’s constitution which clearly defines the tasks and responsibilities of the board of directors, the kind of business that’s being undertaken, and the ways by which the shareholders have the control over the board of directors. Since a company is an incorporated organization, there should be a set of rules and regulations that’s agreed upon for its management responsibilities and internal dealings and affairs. This includes the way business is being conducted plus the relationship between the members in the company. All of the tasks, duties, and responsibilities of the members must be documented which includes a list of the rights of each member. The articles may cover a combination of topics such as the issuance of shares and stocks with voting rights attached to certain shares being held by the members. The articles of incorporation may also cover the following:
Value of Intellectual Rights - Includes the valuation of Intellectual Property Rights (IPR) of a partner that is equivalent to how one values real estate property
Appointments of Board of Directors - Shows which shareholder dominates including how shares are distributed equally among contributors
Directors Meetings - Includes the minutes and what transpires in every meeting including quorum and percentage of votes being cast
Management decisions - What the board decides together with the owner and any relevant decisions and information relevant to the corporation
Transfer of Shares - Assignment of rights of the founder and each member plus each one’s power to transfer shares to relevant individuals in the corporation
Dividends - Percentage of Profits Declared whenever there is a profit to be declared
Other Agreements - Includes conditions and notices of member confidentiality and agreements and penalties in case of disclosure and purchase rights and counter-bid offers
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