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Making sure your articles of incorporation work for you

Starting a new business involves so much more than coming up with a good idea and deciding to sell it. In order for a company to work and grow, it should begin with a stable foundation. For instance, if your company is set up as a corporation, you will need to create and file articles of incorporation.

Having articles of incorporation that have been approved by the state means that a corporation is legally and publicly registered in that state. It is undoubtedly an important document, but it doesn't need to be overly complicated.

The overall purpose of the articles of incorporation is to establish and describe the fundamental characteristics of the corporation. As this article from FindLaw describes, the document should include some basic identification information, including:

  • The name of the corporation
  • The address of the corporation
  • Contact information for the corporation's registered agent, director and officers
  • Information on the corporation's shares, including value and class designation
  • The purpose of the business

Generally speaking, the articles of incorporation can be a very simple, straightforward document. However, making sure it is properly drafted and filed will be crucial if you want it to be effective.

The articles of incorporation document is one of the many documents you may have to create and file as a business owner, depending on the type of company you are starting. For guidance on this and the many other business formation documents you will want to have in place, it would be wise to consult an attorney who is familiar with the legal process of starting a business in Minnesota.

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