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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.
1,040 Questions
Where can one find information on incorporation services?
The website MyCorporation seems to be a good resource for information on incorporation services. It also offers a free business consultation for starting up. The website California Incorporation Services also offers some information, as does Florida Incorporation Services.
How do the concepts of offer acceptance and consideration work together to create a valid contract?
An offer first sets out the terms/conditions of a contract. For example, I have offered you a car in exchange for £1,000.
An acceptance means that you are willing to be legally bound by this offer and you will pay £1,000 for my car.
Simply put, consideration is defined as a value paid for the promise of an act, service, item, etc. Both parties will gain something from the transaction.
In the example, the £1,000 would be consideration for my car.
However, if I simply said "I will give you my car" and you accepted, I would not be legally bound to give you the car and you could not sue me. This is because you have not given me any consideration in exchange. Without consideration, a contract cannot be formed.
A code of ethics is enacted by the government?
Most of the code of ethics which are enacted by the government include those that involve disciplines that are crucial to everyone's wellbeing. The government can for example draft a code of ethics for policemen or doctors.
Advantages and disadvantages of incorporation?
* Regulatory and Record keeping Requirements-Corporate operations are governed by local, state, and federal regulations to a greater degree than are other businesses. * Added Cost of Doing Business-Regulatory and record keeping guidelines and requirements often make it necessary for corporations to make additional investments (in accounting staffing, etc.) devoted to seeing that those legal requirements are met. In addition, there are fees associated with incorporating that business partnerships and sole proprietorships are not subject to. * "Double" Taxation-People who are owners of a corporation, and who also work as an employee of the business, can receive financial compensation in two different ways. In addition to receiving a salary or wages for work performed, the owner may also receive a dividend or distribution on the stock that he or she owns. Any distribution of income to stockholders via dividends is taxable, however, if the corporation is organized as a "C corporation." This is sometimes called "double taxation" in recognition of the fact that such income has in reality been taxed twice, first when the corporation paid taxes on its profits, and secondly when the dividends were distributed. Companies that register as an "S corporation," however, are able to avoid this added tax. * Separation of Finances-While incorporation provides significant protection of owners' personal assets from repercussions of business downturns, it also means that a business owner is not allowed to tap into the corporation's account for assistance in meeting personal debts.
Sole proprietorship
What is the difference between shares capital and stated capital?
Authorized Capital is like the ceiling of the organization , or the extend to which an organization can issue its shares. Stated Capital Is the issued capital of the organization Dalia M. Rezk
How has technology impacted the work environment?
Production work is now mechanized. Robots build our cars.
Technology also enables us to communicate better. We can email instead of writing letters. It makes everything faster.
Technology also allows us to perform better research.
What is Nonindependent director in board of directors?
A non-independent director is in a majority of cases an executive associated with the boards organization, i.e. chairman, CEO, COO, CFO, etc. and/or any other executive voted to be a member of the board; or it can and usually is someone or an entity, (pension fund, family member, institutional investors, etc) from outside the organization that holds some form of financial interest that influences the board to offer a seat on the board for representation. Simply put - it is opposite of what the SEC, NYSE and NASDAQ requirements set forth for independent directors.
Difference between licensing and franchising?
Every franchise contains a license. Many licenses, on the other hand, are really disguised, illegal franchises. It doesn't matter what terms are used to define the relationship. What is critical are the presence of certain key elements that will define the relationship.
What are the disadvantages with joint venture with a foreign firm?
The Disadvantages of Joint Ventures are the possibility of being ripped off or disappointed by unscrupulous and unprofessional JV partners, and hurting your reputation and/or customers and associates by associating with the wrong people, even unknowingly.
There is a way to locate and contact really solid JV partners, however. The DollarMakers Joint Venture Forum might be the solution for you. We carefully screen Members and the support and education provided are very effective. For more information on the advantages and disadvantages of joint venture, and on the DollarMakers Joint Venture Forum
What is the difference between limited company and enterprise?
An enterprise is "a purposeful endeavor". Individual persons, groups, organizations, and communities can pursue an "enterprise".
Chain of command in a business?
A system whereby authority passes down from the top through a series of executive positions in which each is accountable to the one directly superior.
What does P C mean after a legal firms name?
Professional Corporation, indicating that those providing services are licensed to provide legal services.
== == Professional Corporation
What are the advantages with joint venture with a foreign firm?
If taxed as a partnership why is a joint venture different. why is it not considered a partnership too Can a member of the joint venture spend whatever they want without consulting the other member
What is profit prior to incorporation?
"Profit prior to incorporation" is the profit earned or loss suffered during the period before incorporation. It is a capital profit and is not legally available for distribution as dividend because a company cannot earn a profit before it comes into existence. Profit earned after incorporation is revenue profit, which is available for dividend.
Define a vote of no confidence?
A confidence motion in Canada is one where members of the House of Commons are asked to vote on the Speech from the Throne, a tax bill, or spending bill. The government can also declare that a specific bill is a confidence motion. Failure of the majority of Members of Parliament to support the bill would result in the collapse of parliament and thus trigger an election. The opposition can also put forward a motion during opposition days to ask for a vote on the condidence of Government.
In Canada a vote of non-confidence is voteing to decide if the majority of members in the House of Commons still have confidence in the Canadian government's ability to lead the country.How can you file for incorporation?
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.
See related question "How do you incorporate a business?" linked below.
What is the incorporation of materials into the organism's body?
The incorporation of materials into an organism's body refers to the process by which nutrients and substances are absorbed and utilized for growth, maintenance, and energy. This occurs through various mechanisms, such as digestion, where food is broken down into smaller molecules, and then transported into cells. Additionally, organisms can absorb materials from their environment, like minerals and water, which are essential for physiological functions. Overall, this process is crucial for survival and proper functioning of the organism.
Who receives the profit from a sole proprietorship?
Either the sole proprietor or the profit may be reinvested in the business in which case the sole proprietorship.
Where can one find samples articles of incorporation?
Every corporation has a set of rules regarding their company, which is called their Articles of Incorporation or Corporate Charter. In order to have these, the company must be classified as a corporation, not a limited liability company. Limited Liability companies have something similar, called Articles of Organization. These are created when the company first begins providing services or products. They must be filed with the appropriate state office, where they will be retained for future reference.
Finding a company's Articles of Incorporation is beneficial for competing businesses. It may also be helpful to know if someone is thinking of filing a lawsuit against a company where they feel the company may have broken their own rules. If consumers feel a lawsuit is necessary in such a case, it is best to find the company's Articles of Incorporation independently. Attorneys can also do this, but they will charge for their time and effort. Obtaining a copy of the articles will eliminate that amount of time and also help the consumer verify if the company broke any of their own rules. If so, most attorneys will be willing to accept such a case for a settlement percentage.
Articles of Incorporation filings are not confidential, so anyone may choose to look them up. This was determined so that businesses would feel the enforcement of ethical work practice. To obtain a copy of these documents, visit the Secretary of State's website. Each state has their own site for this office. Be sure to choose the state in which the company became incorporated, as this may be different from the state the affected consumer resides in. It may be necessary to perform an internet search to find the name of the company, along with their corporate address.
After locating the correct Secretary of State's website, choose the search filings option. Not every state's website is set up the same, so depending on how technologically advanced the state's site is, it may be easy or hard to find this information. Some states invest in high-quality search tools, while others do not for public records of filings. If no results are found for one search field, such as the company name, try searching with the address. Some sites will only require one fragment of information, while others may require full information. There should be a link when the results are returned that offers the option to view business filings. Choose the appropriate link for the Articles of Incorporation to view them. Most sites allow printing also.
What is the need for external and internal customers?
Some could relate to the following.
- A choice of products, goods, and services
- Full disclosure of information before they purchase
- The right to be heard
- A contact to handle complaints
- The right to service
Is exxonMobil a limited liability corporation?
Not exactly, ExxonMobile is a Limited Liability Company (LLC). An LLC is a company not a corporation.
