- Once you file for your business entity, what's next?…Well, once you have received your Articles of Organization…for an LLC, or Articles of Incorporation for a corporation…back from the Secretary of State, you're almost done.…But you need to take a few additional steps…before you can head to the bank…and open a business checking account.…Let's talk about the bylaws and the initial minutes…for your corporation.…If you've formed a corporation, you'll need bylaws.…Bylaws are considered forms,…meaning they're pre-formatted documents…that are the same for every company, but bylaws can be,…and often are, customized to the particular needs…of the corporation.…
Bylaws are the governing document for your corporation.…The bylaws cover how your company will actually be governed.…How can shares be sold?…Who's in charge, and what are their powers?…How is the company dissolved?…When are meetings?…How are matters voted on?…These and many other questions should be answered…in the bylaws.…Now, most critical issues are addressed…
DISCLAIMER: This course is taught by an attorney and addresses US law concepts that may not apply in all countries. Neither LInkedIn nor the attorney teaching the course represents you and they are not giving legal advice. The information conveyed through this course is akin to a college or law school course; it is not intended to give legal advice, but instead to communicate basic information to help viewers understand the basics of intellectual property.
- Determine the purpose of a fictitious business name (FBN).
- Distinguish between types of entities.
- Identify required components for setting up a corporate entity.
- Recognize elements in bylaws.
- Interpret the purpose of federal tax identification.