Do I need to publish a notice of incorporation? While a few jurisdictions require publication of the corporate name to be published in a newspaper local to the county of the registered agent (Georgia, Arizona, Illinois, and Pennsylvania), most jurisdictions do not require publication unless an existing unincorporated business intends to incorporate without a change in its name; that business must then publish its [...] By Sandra McCarthy|April 28th, 2014|Corporation Column 1, Corporation FAQs|0 Comments Read More
Can the same person be the shareholder, director and all officers of a corporation? While jurisdictions will vary in their requirements, most states require that there be at least one director and two officers, in a general, for-profit corporation. The required officers are president and secretary. Most states allow one natural person to hold both offices and be the sole director of the corporation. Usually, that one person may [...] By Sandra McCarthy|April 28th, 2014|Corporation Column 1, Corporation FAQs|0 Comments Read More
Can I protect a trade name nationwide? There is no national registration of trade names. Generally, businesses, including corporations, protect their trade names by registering their trade name as a service mark or trademark, if the trade name also functions as a service mark or trademark. Because of the legal complexities involved, we recommend that businesses obtain private counsel to get advice [...] By Sandra McCarthy|April 28th, 2014|Corporation Column 1, Corporation FAQs|0 Comments Read More
If I incorporate, will doing so prevent others from using my company name? Incorporating will not keep another business from using your name. Generally, every business must protect its own business name and the good will that it has acquired from the sale of its goods or services in a specific geographic area. Filing articles of incorporation only prevents the secretary of state from filing a document to [...] By Sandra McCarthy|April 28th, 2014|Corporation Column 1, Corporation FAQs|0 Comments Read More
Do I need to file a DBA (‘Doing Business As’)? Individuals and unincorporated entities that regularly conduct business using an assumed name (often called a DBA ) must file an assumed name certificate with the county clerk in each county in which business premises are maintained. If corporations, limited liability companies or limited partnerships (entities created by filing with the secretary of state) do business [...] By Sandra McCarthy|April 28th, 2014|Corporation Column 1, LLC FAQs, Corporation FAQs|0 Comments Read More
What is par value? A business corporation must sell shares of stock in order to capitalize the corporation, that is, provide the corporation with its own capital, separate from the money of its owners. This separation provides part of the support for shielding the shareholders from personal liability for the debts and obligations of the corporation. Shares of stock [...] By Sandra McCarthy|April 28th, 2014|Corporation Column 2, Corporation FAQs|0 Comments Read More
Does a corporation have to issue stock? Shares of stock represent ownership of the corporation. Where no shares are issued, no individual owns the corporation. Thus, shares must be issued to those individuals who will own the corporation. While most states have created many exceptions and exemptions from registering a stock issuance with the State or with the SEC for most small [...] By Sandra McCarthy|April 28th, 2014|Corporation Column 1, Corporation FAQs|0 Comments Read More
What is a Federal Employer ID Number? If you plan on opening a bank account under your corporate name, most banks will require that your corporation have a Federal Employers’ Identification Number. A Federal Tax Identification Number (also known as a "95 Number" or "EIN Number" ) is a number assigned to a corporation or LLC by the Federal Government for purposes [...] By Sandra McCarthy|April 28th, 2014|LLC FAQs, Corporation Column 2, Corporation FAQs|0 Comments Read More
Where can I get a corporate seal? While many jurisdictions have abolished the requirement of maintaining a corporate seal, many corporations still prefer to maintain a corporate seal as a formality. Corporate seals range in price from $8 (rubber stamp) to about $75 (steel embosser). Your can order your corporate seal through our office. You'll need the name of your corporation and [...] By Sandra McCarthy|April 28th, 2014|Corporation Column 2, Corporation FAQs|0 Comments Read More
What is a corporate officer? While most jurisdictions allow the same person to act in all capacities, that person has different responsibilities depending on the capacity in which he or she is acting. President Vice president Treasurer Secretary (or clerk) Assistant secretary Assistant treasurer Although most jurisdictions allow one person to serve in the three capacities of President, Treasurer and [...] By Sandra McCarthy|April 28th, 2014|Corporation Column 2, Corporation FAQs|0 Comments Read More