San Diego Estate Planning Lawyer Blog
In El Cajon, there are many corporations. These are regulated by the California Department of Corporations. Our law firm of Law Office of Scott C. Soady, A Professional Corporation, LLP can incorporate your existing business or a new business. Please feel free to e mail or contact us for a free appointment. A corporation can also be part of your estate plan.
Following fast on the heels of a decision to go into a particular kind of business is the decision about what kind of legal form it should take. The most common options are a sole proprietorship, a partnership, or a corporation. You may lean toward the corporate route because you like the sound of having “Inc.” after the company’s name, but there are some more practical, business-like considerations to take into account.
More so than with some of the other structures for a business, starting a corporation means complying with formalities required by state laws. Once the shareholders (owners) of the business agree on some basic matters, such items are embodied in articles of incorporation that must be filed with the appropriate state agency. These essentials usually include:
* a corporate name;
* the number of shares that can be issued;
* the number of shares each owner will buy and for what contribution of cash or property;
* the nature of the corporation’s business; and
* the identity of the directors and officers of the corporation who will handle day-to-day operations.
The fledgling corporation will also need bylaws, which constitute a procedural rule book for the company.