San Diego Estate Planning Lawyer Blog
In San Ysidro, there are many companies which have a business entity in the United States and also in Mexico. Our law firm of Law Office of Scott C. Soady, A Professional Corporation, LLP can assist with all aspects of the formation of your United States Corporation in California in compliance with all requirements from the California Department of Corporations. Please feel free to call or e mail our firm for a free and private consultation in our office.
The bottom line here is that whoever holds a majority of the shares of a corporation has ultimate control over it. Usually it takes a majority of the shares to elect the board of directors, which is charged with making the “big picture” decisions. If a decision is momentous enough for the company’s future, such as a change in the articles of incorporation or whether or not to merge with another company, the shareholders usually have a more direct role in that they themselves must approve the decision by a certain margin of votes.
The board elects the officers of the corporation, typically including a president, vice-president, secretary, and treasurer. The officers may or may not be salaried employees or shareholders, and in some cases one person may hold more than one office.