Business Law Week 7 Discussion

Incorporating in the rural area of FloridaThe office of the Secretary of country of Florida , specifically its division of Corporations , handles matters involving mickles . In other speech , those who extremity to bear witness their artes (whether it s a profit or a non-profit tum or a restrain liability comp distributively ) in Florida should allude this office which is located at the division of State of Florida in Tallahasee at R .A . Gray structure , 500 south Bronough Street . Aside from being requisite to register with the Division of Corporations , an entity desiring to incorporate a melody in Florida is also sometimes asked to register with the Department of Business of the local county politics where the business bequeath be located and will operate (Florida Department of State , 2007The first beat in t he process of incorporating involves the take care for the predict of the companionship . In deciding on a name , the organizers should choose a name that past wads in Florida film not to that extent used or is not being used by any current Florida mass . This is a policy which has been designed to prevent unscrupulous individuals from deceiving the semipublic . In cases where the planned corporation would have the words stick , deposeee , or trust in its name , the favorable reception of the Superintendent of Banks of the maintain of Florida should be obtained (Florida-Corporations-Online .com , 2006 ) The name should also decently recognise the mixed bag of entity being organized by attaching the words Corporation or Incorporation or their abridgments Corp and Inc if the business is a corporation and the words Limited Liability troupe or the abbreviation LLC if the business is such . Moreover , the oral communication of the chosen name should not imply that it is connected with any governme! nt agency , state or federal or that it is chartered under the rights of the United States (MyNewCompany .com , n .

dAfter choosing the corporate name , the organizers should have their s approved by the Division of Corporations of the State of Florida A corporation should for approval its Articles of Incorporation while a limited liability company (LLC ) should be filing its Articles of fundamental law Once approved , the company starts its official existence in the state of Florida . The organizers could now start creating the Bylaws (for corporations ) and the Operating Agreement (for LLC s ) which would lay down ear as their instruction manual or the manual of procedures (MyNewCompany .com , n .d ) Then an Organizational Meeting should be held accord to the render of their bylaws or operating agreement , where the organizers would choose the members of their calling card of Directors . The directors in turn , should elect the officers of the corporation who will be tasked to rule the day to day operations of the company (Florida-Corporations-Online .com 2006 ) The nigh step would be to acquire the company s Federal Employer credit modus operandi (FEIN ) or Federal Tax Identification Number which serves to describe the company . The new company should also open its verify account to facilitate its operations . Finally , the new corporation or limited liability...If you want to get a bountiful essay, order it on our website: OrderCustomPaper.com

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