What are Articles of Incorporation?
The Articles of Incorporation is a document that is filed with the Secretary of State by the individuals organizing the corporation. The state then issues a Certificate of Incorporation that legally entitles a corporation to operate as a business within the state. The Articles of Incorporation describe the purpose of the corporation as well as the share structure. The Articles will also list the names of the individuals who are acting as incorporators for the corporation and may also list the names of the individuals acting as initial directors for the corporation. The actual rules governing the management of the corporation would be contained in a separate document called the Bylaws.
The Articles of Incorporation is the document which establishes the corporation and contains basic information such as the name, share structure, and purpose of the corporation. IRI’s Legal Department is available to assist clients who prefer to submit their own forms of Articles or who require special share clauses.
It is the document that is prepared when individuals decide to form a corporation. It contains pertinent information about the corporation such as the name, length of intended operation, the nature and purpose of the business and the number of shares that will be issued. This document is sent to the appropriate department of the state in which the company will be incorporated.
A Corporation’s “Articles of Incorporation” is the main filing document which begins the corporation’s existence under state law. Once filed, the corporation comes into existence. The level of complexity for a corporation’s Articles of Incorporation can range from very simple to extremely complex. Generally, most jurisdictions require Articles of incorporation to contain, at a minimum, information about the Corporate Name, the Registered Agent, and the Corporation’s business address. Requirements vary by state.
