Hartley Bernstein’s guide on how to form a corporation

by Hartley Bernstein Hartley Bernstein

Congratulations that you have decided to form a corporation! What do you plan to do next? Are you confused? Do not worry. This little guide from New York based corporate lawyer Hartley Bernstein will help you. It lists the five essential steps to forming a corporation. This blog is a short overview of the entire, very technical, and very complicated process.

·         Pick up a name

Pick up a name for your business, that is compatible with the corporation rules of your state. Although state rules vary, there are a few that are held across the United States. These rules dictate that the name of your new corporation cannot be the name of an existing corporation or government (federal, state), and there has to be a designer (LLc, incorporated, or corporation).

·         Appointment of directors

Major policy decisions and decision on finance are taken by the people at the helm, directors. The directors have rights to issue stock, decide on salaries, and approve loans. Owners can, or cannot be directors. Some states rule that there should be as many directors as there are owners.

·         Paperwork

After have chosen a name and a team of directors, the next task is to jump into the river of paperwork. It is advisable to hire an established corporate lawyer because the work is complicated and time-consuming. Hartley Bernstein has over 35 years of experience in corporate law.  This is also the time when you can obtain the necessary licenses and permits. A lawyer can be of huge help here.

·         Create bylaws of your corporation

How are the directors and employees going to interact? What rules is your corporation going to follow to settle matters internally? These are called bylaws. An expert attorney can help you create bylaws for your corporation.

·         Hold meetings with directors

 

It is important that you hold regular meetings with the board of directors. This is very important as at these meetups, you can decide what direction your corporation is going to take.

This is an extremely short guide on how to found a corporation. To learn about the legislation in your state, or to ask more specific questions, talk to New York corporate lawyer,  Hartley Bernstein.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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