| What is a Corporation?
A corporation is a Legal Entity, when
you form a Corporation you are giving birth to a legal
and separate entity. This legal and separate entity
does not have any opinions nor thoughts of it's own.
Further, a corporation is a distinct legal entity, separate
and apart from its members, stockholders, directors
or officers. Although it is a separate entity, it can
act only through its members, officers or agents and
cannot have knowledge or belief of any subject independent
of the knowledge or belief of its people.
So how does a corporation function? Through
the officers. Stockholders and members of a Corporation
do not run a Corporation the Officers do. The existence
of the corporation is not affected by the death or bankruptcy
of a shareholder or by the transfer of its shares. IT
HAS A CONTINUOUS EXISTENCE. IT IS IMMORTAL for as long
as it complies with the annual requirements of the state
in which it is incorporated.
In this legal world the number one thing
that most people do not understand is that you must
write down what is taking place in a Corporation, this
is the veil. In order to have a Corporate Veil you must
have records, meetings, resolutions, etc. In this corporate
world if you did not document IT, IT never happened.
This is where most people run into to problems, they
never write down what happened in the corporation. This
is why we are against Corp Kits, the client is left
sitting at his or her desk trying to figure out how
to fill the stupid thing out, and most of the time never
getting them done. Let the experts take care of this
for you. This would be us; concentrate on what you do
best which is to make money.
|
cor·po·ra·tion : a body formed and authorized
by law to act as a single person although constituted by one
or more persons and legally endowed with various rights and
duties including the capacity of succession 
