A lawyer for articles of incorporation creates legal documents filed with a government body or a state to build a corporation. The documents create a contract between the state, the shareholders, and the corporation. The corporation’s existence begins legally when the government body files the articles. The documents also outline a corporation’s purpose and operations. You may ponder whom you approach to draft articles of incorporation and conduct independent commercial activities. It is where a lawyer for articles of incorporation comes to the rescue. Articles of incorporation include the following elements:
- Corporation name and address
- Registered agent name and address
- Duration of the specific incorporation
- Nature of business
- Number of shares
- Incorporate designations
What is the Objective of the Articles of Incorporation?
Articles of incorporation are one of the most important requirements for state authorities to ensure that an organization abides by local rules and regulations. A business cannot operate as a single legal entity without the articles of association. The document includes details, such as the company name, a legal form, a statement of purpose, capital structure, governance considerations, etc.
Who is a Lawyer for Articles of Incorporation?
A lawyer for articles of incorporation helps individuals assess what the business needs to incorporate into its application, find a beneficial corporate structure, and prepare and file all the necessary documents ahead of becoming a corporation or LLC. The lawyer also ensures that the client complies with the legal rights recognized by a particular state when setting up a business to operate as a separate entity. Attorneys of articles of incorporation ensure that all documents are in order before sending them to the state or government body for approval. They also help shield individuals from the liabilities of paying debts or other financial obligations.
What Does a Lawyer for Articles of Incorporation Do?
A corporation is a complex organization that includes multiple legal, business, and financial concepts and relationships collated into a single entity. A lawyer for articles of incorporation must ensure that all legal aspects of a yet-to-be-created corporation are adequately managed and serviced. The lawyer performs multiple roles and functions; the most significant ones are discussed below:
Review and Evaluation
The first thing that a professional lawyer does is review the legal documents before sending them to the state for approval. The lawyer provides support and recommendations to individuals or groups to ensure that they state their purpose and operations clearly in the articles.
Lawyers for articles of incorporation also perform advisory roles and functions for the executive management and the leadership of an organization that is on the verge of becoming a corporation. The advisory includes studying legal documents, preparing their drafts, and modifying them according to the legal implications for the leadership to sign and send them to the government body.
Interpretation of Court Rulings
A lawyer for articles of incorporation may act as a resident jurist for the organization’s leadership and executive management. The attorneys can provide their legal opinion and interpretation of court rulings that may impact the upcoming business and its financial interests before it gets approval to become a corporation.
The lawyer for articles of incorporation ensures that the organization complies with all the regulatory measures required for the industry to which it will belong after becoming a corporation. Regulatory compliance involves the obligation of an organization to comply with the laws and regulations mandated for all entities operating within an industry.
What are the Benefits of Hiring a Lawyer for Articles of Incorporation?
Hiring a lawyer to draft articles of incorporation can help an organization understand the legal intricacies of an industry. Moreover, the lawyer will be completely aware of the different perspectives of the business that will help in drafting efficient legal documents to send for approval to the state. Here are the benefits of hiring a lawyer for articles of incorporation.
Choose a Suitable Business Structure
A professional lawyer will provide adequate knowledge to an organization about opening a private, public, or partnership corporation firm. The lawyers also know the liabilities and responsibilities related to a corporation which will help the organization choose the most suitable business structure.
Draft Documents without Loopholes
Lawyers for articles of incorporation have adequate experience in drafting, reviewing, and evaluating contracts, applications, and certificates of incorporation. Their expertise helps organizations avoid loopholes and create approval-ready documents for the state.
Get All the Documents and Evidence Ready
Professional lawyers can help organizations prepare all necessary documents to verify their legally registered name, address, capital, structure, etc. The lawyers ensure that all the necessary credentials and evidence are attached to the articles of incorporation so that the state can approve them instantly.
Save the New Corporation from Unnecessary Lawsuits
A lawyer for articles of incorporation also assures that the organization does not face any unnecessary lawsuits after becoming a corporation. The lawyer is also aware of the lawsuits a new corporation may face and informs the organization beforehand to avoid unwanted complications and losses.
When Do I Need a Lawyer for Articles of Incorporation?
You will need a lawyer to draft articles of incorporation when creating a corporate business formation. You will also need a lawyer to assist you with setting up a bank account, receiving capital, and establishing your organization’s legal identity.
Key Terms Related to A Lawyer for Articles of Incorporation
Incorporating an organization is a mandatory requirement in the United States. However, the process involves multiple legal formalities and technicalities that may be difficult to understand. That is why organizations must understand key terms to avoid making mistakes when working with a lawyer for articles of incorporation to become a corporation. Here is a list of key terms related to articles of incorporation you must know about.
- Company Name: It is the unique and communicative title of the organization or brand and its business activities.
- Memorandum Of Association (MOA): It is a foundational document of the organization that includes basic details, such as name, registered address, owner liabilities, capital, etc.
- Promoters: They are a group of people comprising proposed shareholders and directors who conceive the idea of setting up a corporation.
- Shareholders: They share the ownership of the organization by investing capital into it and receive guaranteed returns.
- Director: An individual appointed by the organization’s shareholders to manage its business affairs and make decisions regarding operations and management.
- Certificate Of Incorporation: It is conclusive proof that the government body of the state has incorporated an organization successfully.
- Annual Return: It is a yearly compliance for an organization whereby it has to submit its basic details to the state after a specified period.
Articles of incorporation are necessary to convey an organization’s purpose and operations to get approval from the state and become a corporation. These legal documents are a significant part of a company’s existence in a specific industry. A professional lawyer can help prepare and submit the articles on the organization’s behalf while providing insightful advice to avoid errors or inconsistencies. Are you on the verge of opening a new business venture soon? Then visit ContractsCounsel now and seek help from some of the best lawyers to draft your articles of incorporation. Post your project today and file your legal documents in a hassle-free manner.