Incorporation

Incorporation is the act of selling out shares of a company to generate revenue. Questions about incorporating, companies that are or will incorporate, or companies that are already incorporated can be asked here.

2,444 Questions
Lincoln LS
Business Law
Linux
Incorporation

What does LS after signature mean?

L.S. is the abbreviation for the Latinism "locus sigilli", meaning the place reserved for the signatory's unique seal. Most U.S. states have abolished the need for a seal to authenticate the signature. Older documents can be found with a wax wafer melted onto the L.S., impressed with a corporate, government, or private insignia (the seal), perhaps with color-coded ribbons or strings also embedded in the wax under the seal.

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Business Law
Incorporation

When a limited partnership is formed?

A limited partnership is formed upon the execution of an agreement between a limited partner (usually a financial contributor) and a general partner (responsible for the day-to-day operations of the business). The limited partner is only liable up to the amount of the initial investment whereas the general partner has unlimited liability. It is advisable to have an attorney draw up the agreement to ensure that it is in compliance with the laws of the jurisdiction in which the partners will conduct business.

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Small Business and Entrepreneurship
Business and Industry
Incorporation

How do you incorporate a business?

In most U.S. states, a business corporation is started by one or more people, known as "incorporators", who craft a business idea and bylaws for an organization. Initial directors and officers are elected or appointed and official papers are prepared for filing with the Secretary of State in the state where the incorporators choose the corporation to be domiciled. Formalities vary from state to state, but typically require a unique name of the corporation, a statement of purpose (charter), identification of any authorized stock, initial board and officers, the fiscal year, the address of the office (or resident agent), and one or more signatures by authorized incorporators or their attorney. Once the papers are filed, with the necessary fees, and inspected and accepted for conformity with the local requirements, the new entity is created.

At the first directors meeting, shares (if any) are distributed, officers appointed, bylaws ratified, and capital investments acknowledged. The shareholders may then meet to elect a new board or change the bylaws, and the new board (or shareholders) may elect or appoint new officers in preparation for carrying out the purposes of the business. Other housekeeping issues involve obtaining a federal tax-ID and filing for any licenses or exemptions needed by the corporation.

Periodic meetings and filings are required to maintain any corporation in "good standing", typically every year or whenever anything important changes in the board, company mission, etc.

Incorporation is the process by which one or more persons may form a limited company. There are many reasons why you might want to incorporate a company in the US, but the four most common reasons include:

  • To create a legal entity;
  • To provide some protection for the name of the enterprise;
  • To provide limited liability to its members;
  • To provide perpetual existence

Individuals or groups wishing to operate as corporations in any state of the USA are required under State Company Acts to file the appropriate forms with their respective Secretary of State, Corporations Division.

Incorporation establishes your business as a distinct, legal entity, offering you a number of advantages including business name protection, transferability of business ownership, limited liability and possible tax advantages.

Registration Process

The following steps provide the procedures needed to incorporate a new company in the USA with the Secretary of State. To form a new corporation, you must provide a corporate name and address, describe the structure, identify the 'type' of corporation and provide director information. The following information is provided to assist you in this process.

In the USA, company incorporation is done by filing an Articles of Incorporation with the Secretary of State, Corporations Division.

Step One is the Name Search and Approval

If you are creating a company with a name, the first step in incorporation is to ensure the proposed name of your company is available. To check the availability of your name, you must obtain a name research and approval. If you are creating a numbered company the Corporations Division Office will assign it a number that it can use as a name. In that case, no Name Research and Approval is required.

A company's name must be unique in the State of Incorporation. To prove its uniqueness, you must obtain a name search and approval. This search is used to confirm that no one else has a business or registered trademark with a name as, or similar to, the one you have chosen. The name of an incorporated company must end with one of the following designations:

  • Limited
  • Incorporated
  • Corporation

The following abbreviations of the above are also acceptable:

  • Ltd.
  • Inc.
  • Corp.

Step two Articles of Incorporation are completed

Articles of Incorporation are legal documents that establish your business, and must be approved by the government before you do business under that business name.

Once your name has been approved the next step is to complete the Articles of Incorporation and submit it to the Secretary of State, Corporations Division, with the appropriate fees. All documents received are placed in the order they were received and checked to see if they have been completed properly and that they do not violate any provision of the Companies Act.

If your application is approved the Corporations Division Office will register your company by filing a copy of the articles in the register and issue you a certificate if incorporation as proof that registration has ocurred.

The third step is the payment of the necessary fees to file your application for incorporation.

AnswerYou may want to call your local county building and find list your business name.Then go to your "State web sit"and type up under search"Limited Liability Company" and "Corporation"Then read and even call them if you have any Questions.By opening a business you will have a lot more advantages to recover any expenses that you incure, fuel, lodging, food,Items and lots more.It is very easy to do this your self, You do not have to pay an Attorney Tons of money to just fill out papers.Once you have established a Company name, and placed it with the state you live in, your now a company.Review your options on whether to just be "Limited Liability Company"If you do not have any employees or few employees this is probley your best bet.By being a "Limited Liability Company" like me. "WHPLSH.LLC"I have protected myself from my personal life finances and bank accounts. My company is a separate entity from my personal finances.Good Luck CliffRememmber to read as much as posable and do not be affraid.
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Incorporation

Who owns a corporation?

stockholders

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Business Law
Incorporation
UK Law and Legal Issues

Who won the case of salomon v salomon?

In the first case, Broderip v Salomon [1893] B 4793, Vaughan Williams J said Mr Broderip's claim was valid. It was undisputed that the 20,000 were fully paid up. He said the company had a right of indemnity against Mr Salomon. He said the signatories of the memorandum were mere dummies, the company was just Mr Salomon in another form, an alias, his agent. Therefore it was entitled to indemnity from the principal. The liquidator amended the counter claim, and an award was made for indemnity.

The Court of Appeal [1895] 2 Ch 323 confirmed Vaughan Williams J's decision against Mr Salomon, though on the grounds that Mr. Salomon had abused the privileges of incorporation and limited liability, which Parliament had intended only to confer on "independent bona fide shareholders, who had a mind and will of their own and were not mere puppets". Lindley LJ (an expert on partnership law) held that the company was a trustee for Mr Salomon, and as such was bound to indemnify the company's debts. Lopes LJ and Kay LJ variously described the company as a myth and a fiction and said that the incorporation of the business by Mr Salomon had been a mere scheme to enable him to carry on as before but with limited liability.

House of Lords

The House of Lords unanimously overturned this decision, rejecting the arguments from agency and fraud. They held that there was nothing in the Act about whether the subscribers (i.e. the shareholders) should be independent of the majority shareholder. The company was duly constituted in law and it was not the function of judges to read into the statute limitations they themselves considered expedient. Lord Halsbury LC stated that the statute "enacts nothing as to the extent or degree of interest which may be held by each of the seven [shareholders] or as to the proportion of interest or influence possessed by one or the majority over the others."

Lord Halsbury remarked that - even if he were to accept the proposition that judges were at liberty to insert words to manifest the intention they wished to impute to the Legislature - he was unable to discover what affirmative proposition the Court of Appeal's logic suggested. He considered that identifying such an affirmative proposition represented an "insuperable difficulty" for anyone putting forward the argument propounded by the Lords Justices of Appeal.

Lord Herschell noted the potentially "far reaching" implications of the Court of Appeal's logic and that in recent years many companies had been set up in which one or more of the seven shareholders were "disinterested persons" who did not wield any influence over the management of the company. Anyone dealing with such a company was aware of its nature as such, and could by consulting the register of shareholders become aware of the breakdown of share ownership among the shareholders.

Lord Macnaghten asked what was wrong with Mr. Salomon taking advantage of the provisions set out in the statute, as he was perfectly legitimately entitled to do. It was not the function of judges to read limitations into a statute on the basis of their own personal view that, if the laws of the land allowed such a thing, they were "in a most lamentable state", as Malins V-C had stated in an earlier case in point, In Re Baglan Hall Colliery Co., which had likewise been overturned by the House of Lords.

The House held:

"Either the limited company was a legal entity or it was not. If it were, the business belonged to it and not to Mr Salomon. If it was not, there was no person and no thing to be an agent [of] at all; and it is impossible to say at the same time that there is a company and there is not."

The House further noted:

"The company is at law a different person altogether from the subscribers to the Memorandum, and though it may be that after incorporation of the business is precisely the same as it was before and the same persons and managers, and the same hands receive the profits, the company is not in law the agent of the subscribers or trustees for them. Nor are the subscribers or members liable in any shape or form except to the extent and in the manner provided by the act."

On the issue of floating charges, Lord Macnaghten also said this.

"For such a catastrophe as has occurred in this case some would blame the law that allows the creation of a floating charge. But a floating charge is too convenient a form of security to be lightly abolished. I have long thought, and I believe some of your Lordships also think, that the ordinary trade creditors of a trading company ought to have a preferential claim on the assets in liquidation in respect of debts incurred within a certain limited time before the winding-up. But that is not the law at present. Everybody knows that when there is a winding-up debenture holders generally step in and sweep off everything; and a great scandal it is."

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Incorporation
Currency Conversions
Mission Statements

What is Quid Corp?

Quid Corp is a scam company that lies and misleads clients telling them they are eligible and qualify for thousands and thousands of grant funding and they want you to pay a retainer fee UPFRONT. . .No one has ever been funded and all the posts on the internet are employees lying saying they are client that have been funded. . .

My name is Stephanie Weston and I am a former employee of Quid Corp. I worked for Quid Corp for several months. I have read all the blogs and I am sorry to inform you that to my knowledge and all the research I have done, they are all TRUE. The employees of this company have lied and said I was dismissed, fired and or let go. That is a blatant lie of which I am taking legal recourse for such lies.

I left Quid Corp when I discovered it was a fraudulent company that misleads clients. I also discovered and have proof of their affiliation with other fraud companies of which I am willing to testify in a court of law! I have been accused of being the blogger named "whistleblower." That is also a lie, I am not disgruntled. It is simple I worked for a company that was scam and quit.

None of the clients that I sold have received funding and many have contacted me and have provided me written statements of what they have been told of my being dismissed and fired. . .

The company is a shelf corporation and has NOT been in business for 10 years and they have NOT helped thousands of businesses get millions upon millions of grant funding (what a joke). This company and many employees are the same group of people who ran Corporate Capitol amongst MANY other companies that have closed due to the simple fact it was in fact was a scam and a fraud company. . .

As far as alias names goes, all the people who worked at the previous scam companies use alias names and all the NEW people such as myself all used our REAL names because we were naive and did not even know any better. Employees who were paid to scam people are as much of a victim as the people who were sold.

If you would like to participate in a class action law suit and would like contacts to the proper authorities here in Nevada so you make take legal recourse for being scammed or if you were paid to scam please contact me at Stephanie.f.weston@gmail.com

This company is scam as well as all the previous companies they were affiliated with. I am sure many current employees will come on to this post and call me everything under the sun and lie. I was one of their top sales representatives, I think I was 8th to be exact. I thought the company was real when I started and once I discovered it was a scam I quickly gave my notice. I also have many names and numbers of clients who will be willing to speak with you as they can tell you their experience first hand. I can also give you names and numbers of previous employees who have worked for Corporate Capital and Quid Corp and tell you the transition from company to company.

All the blogs are true and Compass National is where many previous Quid Corp employees are now. So if you are looking for the person who scammed you, they either quit, still work their (might have a new alias name) or work for Compass National or another scam company.

So as far as STEPHANIE WESTON being the blogger and hiding behind some yahoo email address, I am here to tell you, I have NO REASON to hide, no reason to lie and have NO PROBLEM POSTING MY NAME AND CONTACT INFORMATION!

So if the current employee at Quid Corp and Compass National want to post and lie, I caution you I will take legal action for slander and defamation of character! I am more than happy to provide, forward any and all information that I have to prove that blog claims are not FALSE and I have submitted this very same information to the proper authorities and legal action I assure is coming, I am happy to provide the name and number of the authorities, legal authorities involved. I am also happy to provide clients that were scammed and ripped of from all companies. . .

Read more: Is_quid_corp_a_scam

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Torts
Incorporation
US Supreme Court

What does Motion to enforce judgment mean?

The Motion to Enforce is a legal filing that requests a court to force someone to obey a previous court ruling.

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Loans
Business Accounting and Bookkeeping
Incorporation

What is an escrow account?

An escrow account is an account controlled by someone who is not a party to the transaction (often a broker in a real estate transaction or one party's attorney in a business transaction) for holding funds on behalf of the parties until the consummation or termination of a transaction or the happening of some specifically identified event.

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Commercial Insurance
Incorporation
Human Resources

Define unlimited liability?

A type of investment in which a partner or investor can lose an unlimited amount of money. Opposite of limited liability.

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Job Interviews
Incorporation

How do you keep people informed about progress within your workplace?

By having a daily preshift and weekly meeting with my employees and explaining the outcomes of previous days work

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Incorporation

How do you get a company incorporated?

In the US, the process of incorporation of a for-profit company is not difficult. For whatever state you are in go to the Secretary of State web site, you should be able to get the company incorported by submitting the right paperwork to the Secretay of State. You should also be able to find what form to use on this web site as well. Each state usually charges a small fee for this.

General steps:

1. Locate your SOS web page (Google "Secretary of state _ Your state here")

2. Click on "Company Incorporation"

3. Download the paperwork.

4. Do a search to ensure you have a unique business name.

5. Fill out the paperwork and mail your check with it. To expedite, it usually costs about $100 more.

6. Wait about a week to receive your registration number.

7. Get your EIN from www.irs.gov. You will need this to open a business bank account and to hire employees/IC's.

You can also google "company incorporation" and buy a package from a legal document provider to simplify the process. While it makes it somewhat more organized, it is generally unnecessary.

Also, keep in mind that you may want to incorporate in a different state than that in which you reside. For example, many real estate companies choose to incorporate in Delaware due to its well documented case law and business owner protection statutes.

Answer

See related question "How do you incorporate a business?" linked below.

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Incorporation
The Difference Between

What is the difference between corporal and corporeal?

Corporal is mainly related to human body, While Corporeal is related to any material body.

Like Corporeal is the Big Circle While Corporal is a specific reason in this circle which deals with only human body.

Hope it will clear your doubt.

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Celebrity Relationships
Chameleons
Incorporation

How tall is Vic Fuentes of Pierce the Veil?

He said in an interview that he's about 5'6 or 5'7.

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Business & Finance
Investing and Financial Markets
Incorporation
Resident Evil Video Games

Does Hindustan Development Corporation exists?

yes, it does.

1944 - The company was incorporated on 11th September, at Calcutta.

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Incorporation

Can a company director be sued personally?

Yes as long as you provide proof he is liable..

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Law & Legal Issues
Small Business and Entrepreneurship
Incorporation
Fraud

What type of lawyer do you need if money loaned to a sole proprietor was stolen prior to incorporation and lenders are alleging fraud and want to sue?

lawyers that specialize in business law, some are called civil lawyers. look in your phone book and see the different ads on civil. you can ask around on a good lawyer that specializes in collections cases. You can search for said lawyer at www.martindale.com by state, city, area of practice, etc.

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Business Plans
Companies
Incorporation

Examples of Private limited company?

Some examples of a Private Limited Company include:

Warburtons - The Baking Firm

New Look Retailers LTD - The Retail Store Chain

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Small Business and Entrepreneurship
Incorporation
The Difference Between

What is the difference between corporation and incorporation?

lol

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Incorporation
Contract Law

Discharge by frustration?

A contract may be discharged by frustration. A contract may be frustrated where there exists a change in circumstances, after the contract was made, which is not the fault of either of the parties, which renders the contract either impossible to perform or deprives the contract of its commercial purpose. Where a contract is found to be frustrated, each party is discharged from future obligations under the contract and neither party may sue for breach. The allocation of loss is decided by the Law Reform (Frustrated Contracts) Act 1943.

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Relationships
Celebrity Relationships
Incorporation

Does vic fuentes of pierce the veil believe in god?

yup he even said he is a catholic in an interview of his

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Incorporation
Bachelor of Business Management BBM
GMAT
High School

What is Human relations approach in Management?

human relations pertains to motivating people in organisations in order to develop teamwork which effectively fulfils their needs and leads to achieving oganisational goals.

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Investing and Financial Markets
Business Accounting and Bookkeeping
Business Law
Incorporation

Say the corporation is a non-profit corporation and two of the shareholder have a personal disagreement. One is a volunteer officer can legal fees be paid out of corporation funds?

a business firm whose articles of incorporation have been approved in some state

Personal matters cannot be paid by the business without them being considered compensation to the ones that benefited. There must be a business purpose for the expense.

An officer does not need to be a stockholder. If a stockholder, officer or other party sues or causes an action against the COMPANY (or an officer/employee of the company arising from his actions as a company rep), then the company must defend itself or it's officer/employee and those are business expenses. And finally, an NFP normally doesn't have stockholders in the conventional sense.

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Bankruptcy Law
Business Law
Incorporation

Can an llc be a partner in a partnership?

Yes, an LLC can be a partner is a partnership and they often are. In this case, all partners in the general partnership are general partners.

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Incorporation
eBay

What should you do if an eBay buyer threatens you?

I think it depends on the conditions. If you are the seller of something and the buyer doesn't think he got a square deal, just tell the person to return the item and you will refund the money, including the return postage. That should get him off your back.

You might want to talk to ebay, not just to 'report' the person but to ask if the transaction was covered under any of their various insurance policies. I mean, I don't know what you sold him; if it was a 40,000-dollar Mercedes, coming up with a refund might be a bit tougher than if you sold him a Lionel train set for 30 bucks.

Presumably, as you have made some kind of transaction you both have each other's physical address. If you live at opposite sides of the continent distance might make you safe; if you live two towns apart, it could be a scarier story.

If this person for any reason has threatened physical harm, you have every right to contact the police in his town and tell them that you have been threatened. Threatening words are as much a case for assault as hitting you with a brick. You have the right to ask them to go talk to this person, but of course this might just up the antagonism. I'm hoping refunding his money will do the job, because this is not a good situation.

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Small Business and Entrepreneurship
US Constitution
Incorporation
US Government

What is the incorporation doctrine?

The incorporation doctrine is the legal theory that allows the Supreme Court to apply the Bill of Rights to the states under the Fourteenth Amendment Due Process and Equal Protection Clauses.

It made most of the Bill of Rights (the first ten amendments to the Constitution) apply to the state governments as well as to the federal government.

Under the original understanding of the Constitution, the power of the states was not limited by the Bill of Rights. States could restrict freedom of speech, search without warrants, and deny trial by jury, just to name three examples. The ratification of the Fourteenth Amendment in 1868 did not change this understanding.

But starting in 1925, the justices of the U.S. Supreme Court began to rule that some rights were so fundamental to the conception of due process of law that they must apply to the states through the Fourteenth Amendment, which prohibits any state from denying due process of law to any person.

The Supreme Court generally allowed states to restrict a fundamental right only if the authorities had a compelling reason for the law, and only if the law was narrowly tailored to accomplish a permissible purpose.

Some justices complained that there was no objective standard to judge which rights were fundamental and which were not, which reasons were compelling and which were merely rational.

While the incorporation doctrine greatly expanded the rights of Americans, it also transferred to the Supreme Court much of the power that had resided in state governments since the founding of the nation. Decisions about limits on police power, searches, confessions, free speech and prayer in school, topless dancing, Ten Commandments displays, abortion, vagrancy laws, and the death penalty all were taken out of the hands of state lawmakers and judges and turned over to the justices of the U.S. Supreme Court.

The incorporation doctrine is one of the reasons for the fierce political battles over nominees to the federal bench. The definition of fundamental rights and compelling state interests can change with the personal values and political views of the judges.

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