Starting a business can be a scary thing. However, we also believe it can be quite fun and satisfying when it's done right. However, "done right" means having everything in order before opening your doors. While the idea of owning your business may seem like little more than getting the work and doing the work, it's absolutely necessary to file the appropriate documents which include articles of incorporation or articles of organization, with the correct government agency. With that in mind, today we'll discuss 6 things you should know about Articles of Incorporation in NC including when to contact your experienced incorporation attorney in Raleigh, NC.
What are Articles of Incorporation in NC?
Outlining your business structure and purpose of operation may be the single most important document when starting a business. Articles of Incorporation, also known as a certificate of charter or formation, are the legal documents that you are required to file with the state of North Carolina if you intend to incorporate your business. These articles include certain information about you and your business, are required in order to operate.
What is the Purpose of Articles of Incorporation?
The Articles of Incorporation's purpose is to serve as legal proof that your company is established in NC. They also provide the state government with specific details about your business including the purpose of your corporation, the name of the incorporator, the number of authorized shares and the amount of common stock.
How do you Benefit from Filing Articles of Incorporation in NC?
As a business owner, one of the greatest ways you benefit from filing articles of incorporation is that you are able to protect yourself from being personally liable for the debts of your company. For example, if your business were ever to go bankrupt, you would not personally be affected. You can also sell stocks and raise capital more quickly and efficiently once your company becomes a corporation.
What's included in the Articles of Incorporation?
While the Articles of Incorporation can often vary from one state to another, in North Carolina, the following information is typically included:
- Name and principal office address of the corporation
- Purpose of the corporation (it doesn't need to be specific)
- Name and address of the registered agent - this person typically receives all important state and legal communications related to the corporation.
- Type of corporate structure
- Name and address of all members on your board of directors
- Number and type of authorized shares
- Duration of the business
- Signatures of the incorporators
Specific state laws and regulations will be implicated by this document. These laws and regulations will guide the way a company’s officers behave.
Articles of Incorporation vs. Articles of Organization
Articles of Incorporation and Articles of Organization are a lot alike, particularly as they are both ways to establish the legal business structure of a company. The biggest difference between the two though is that Articles of Incorporation are a key part of the process that defines corporate structure, whereas Articles of Organization are for businesses that intend to become Limited Liability Companies (LLCs). Before you go about filing either document, check with your Incorporation Lawyer in Raleigh, NC.
How do you fill out Articles of Incorporation?
Before you can fill out Articles of Incorporation, you must structure your business as a corporation. Your Incorporation Attorney can help you with this process. From there, we can help you fill in the blanks regarding your business. Alternatively, you can often find the form online and submit directly to the Secretary of State.
Hire an Incorporation Lawyer in Raleigh, NC
If you are going into business as a partnership or corporation, or any other type of organizational structure, and need help forming sound-tight Articles of Incorporation in NC, contact an incorporation lawyer in Raleigh, NC today. Eldreth Law Firm will ensure that your business gets on the right track from the very beginning.