When formulating a new company, you will need certain documents. No matter which business you are in or which jurisdiction you are registered in there are certain essential documents. Here are some of the most common company formation documents required when registering a LLC business.
Articles of Incorporation (also called Certificate of Incorporation)
A set of documents filed with the government containing company information including the company name, address, amount and type of stock to be issued, shareholders, directors, agent for service of process, business purpose and officers. Articles of Incorporation also set out the rights of shareholders and how the business will be run.
A few Points to Remember about the Articles of Incorporation:
- The corporate name can include certain words depending on the jurisdiction you are registering in.
- Your business purpose stated in the Articles of Incorporation must outline the service or product your company will provide.
- Registered agents are usually required to be based in the jurisdiction of incorporation and have a physical address, business hours and tax documentation.
- The names and addresses of company directors elected by shareholders and responsible for the company must be included in the Articles of Incorporation.
- The legal address of the company is usually required.
- The number of shares of stock to be authorized must usually be named. Stock represents ownership of the company. A company does not need to issue the total number of authorized shares; some unissued shares can be held for inclusion of future owners or to increase the ownership percentage of a current shareholder in the future.
- The share par value must be included in the Articles of Incorporation. This figure tells the minimum stated value of a company’s share (which is usually different to the actual share value).
- The Articles of Incorporation usually include a list of those holding official positions in the company – secretary, CEO etc. and the roles they will play in the organization.