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Los Angeles Corporate Establishment First Step
Creating or registering a corporation Los Angeles is definitely not a simple task. Before you can operate a your business and start engaging with your transactions, you need to accomplish several processes as required by the California Corporate Code and other related Federal and state law provisions.
With this, you certainly need the aid of expert Los Angeles attorneys who have the knowledge about the existing Corporate Law in Los Angeles and other legal procedures in putting up a corporation.
This article will discuss one of the basic requirements in the creation of a corporation – furnishing good and comprehensive articles of incorporation.
Primarily, a corporation may be recognized as a legal entity after filing its articles of incorporation with the Secretary of State. This document contains items will specify the following:
1. Name of the Corporation – A corporation name must be unique and appealing to your target clients. It may contain lowercase or uppercase letters or you may combine it with numerals and any other punctuation marks. Corporation names may only be changed through amendment of the articles of incorporation exercised by the shareholders.
In operating their business, a corporation may still use a trade name other than its own name. Yet, they will be required to follow certain rules in compliance with the existing Corporate Laws. With this, they will have to file Fictitious Business Name Statement in the county court where they will operate their business.
2. Purpose – To have an authorization to perform business transactions, a corporation is required to have a clear purpose. It would be wise to furnish an extensive business purpose that conforms to the provisions of the General Corporation Law of California.
3. Agent for Service of Process – A corporation has to appoint an individual who may take charge of the legal processes that the business may face in the future. It is therefore advisable to assign any member of the board of directors or just hire a Los Angeles Corporate Law attorney to handle this task.
4. Authorized Stocks – This refers to the number of shares limit and the classes of shares that an individual may have as a part of the corporation. In most cases, corporations only share one class of stock or the common stock.
5. Other important issues that need to be discussed – A corporation may also include other matters in the articles of incorporation such as transfer of shares restrictions or some rights of the shareholders. Although this document may seem so simple to prepare, a corporation must be careful in drafting one. They should make sure that the included items in their articles of incorporation adhere to the rules set by the California Corporations Code. Failure to do so may cause delays in the operation of the business. Yet, to make sure that your corporation is following all the requisites of the law, it would be wise to consult a Los Angeles Corporate Law attorney for proper guidance. This attorney will also help you in accomplishing other task necessary in corporation establishment. With his /her assistance, you need not have to worry of having mistakes in establishing your corporation. Our expert business and corporate lawyers are knowledgeable in business laws and processes involving business deals and transactions such as corporation establishment. To avail of their services, you can visit our website.
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Article Tags: Los Angeles Corporate Law Attorneys Article Source: http://www.articlesbase.com/national,-state,-local-articles/los-angeles-corporate-establishment-first-step-460798.html About the Author:
Rainier used to work in a publishing company as a writer and eventually became an associate editor. He dealt in writing instructional materials for secondary and tertiary students. His passion in writing inspired him to read a lot and subsequently enabled him to gain more knowledge and skills.
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