Tag Archives: corporation

Officer and Director Indemnification

Corporate acts of malfeasance grab the public’s attention, particularly when well-known, publicly-traded companies are involved. Often we lay the blame at the feet of high-ranking company executives, who may or may not have been directly involved. What recourse do a company’s board of directors and officers have when sued for committing wrongful acts on the

Continue Reading →

Why are Corporate Bylaws Important?

A corporation’s bylaws establish its operational and organizational policies and guidelines. The bylaws and the articles of incorporation essentially comprise a corporation’s founding legal documents and determine its structure and organization. If you are forming a business, it pays to give careful attention to the contents of your bylaws. Although there may be some overlap

Continue Reading →

Major Differences Between a Corporation and Limited Liability Corporation

You have decided to go into business for yourself. You have your product or service, client base, overhead costs are taken care of, and your business plan has finally begun to manifest. There is one more aspect that you should consider before “going live” – corporate designation. Corporate designation is a merely a fancy word

Continue Reading →

What is a Federal Employer Identification Number?

In your travels through the business world, you may have come across the acronym FEIN, or perhaps EIN. What is it? Who needs one? A Federal Employer Identification Number (FEIN or EIN), also known as a Federal Tax Identification Number, is a nine-digit number that the Internal Revenue Service (IRS) uses to identify entities and

Continue Reading →

Corporation or LLC: What is the Difference?

Starting a new business is an exciting prospect, but it can be daunting, as well. One of the first challenge you will face is choosing the appropriate structure for that business. Both a corporation and a limited liability company (LLC) are popular options as both shield business owners from the business’s liabilities. What is a

Continue Reading →

Officer and Director Indemnification

When a corporation is launched, a board of directors is established to run the business as a unit. Officers are elected by the board members to carry out daily functions of the corporation. As founder and/or shareholder, you are placing a great deal of faith in these selected individuals to handle your financial matters. As

Continue Reading →

What Does a Board of Directors Do?

When a corporation is founded there are several provisions that must be met at the time of filing. Usually when the founders of the corporations envision the operation of their businesses, they see themselves as the boss, the decision-maker, or the superior in the hierarchy of individuals involved. Oftentimes, founders are reluctant in relinquishing any

Continue Reading →

The Importance of Corporate Bylaws

A company’s by-laws are comprised in a core legal document that dictates precisely how a company will operate. Those companies that incorporate do so with a documents called the Articles of Incorporation, which is an important core legal document and also dictates a company’s day-to-day operations and the responsibilities of the entity, but by-laws are

Continue Reading →

Endorsement

Disclaimer

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship. The firm cannot guarantee the out come of any individual case.