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Articles of incorporation represent a corporate charter—that is, a contract between the corporation and the state. Filing these articles, or “chartering,” is accomplished at the state level. The secretary of state's final approval gives these articles legal effect.

In contrast, with a corporate charter in place, the organization can enjoy the advantages that come with being a corporation . In addition to the limited liability of the shareholders, these include tax deductions on expenses, access to capital by selling stock and the flexible transfer of ownership.

Tip. The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management.

Generally, a basic corporate charter contains details stating the name of the company and the board of directors, shareholders, etc. In addition, it includes the address of the company, other offices, if any, and the residency details of the directors.

A corporate charter, also known as a "charter" or "articles of incorporation," is a written document filed with the Secretary of State (or registrar in Canada) by the founders of a corporation. It details the major components of a company, such as its objectives, structure, and planned operations.

While detailed requirements vary from state to state, a corporate charter usually includes the following: Corporation name and address. Purpose of the corporation. For-profit or nonprofit status. Registered agent name and address. Number of authorized shares. Share classes and their par values. Corporate directors.

Generally, a basic corporate charter contains details stating the name of the company and the board of directors, shareholders, etc. In addition, it includes the address of the company, other offices, if any, and the residency details of the directors.

Upon the formation of a corporation, its founders submit a corporate charter. This document, which is mandatory in every state, establishes the legitimacy of an incorporated business.

Articles of incorporation represent a corporate charter—that is, a contract between the corporation and the state. Filing these articles, or “chartering,” is accomplished at the state level. The secretary of state's final approval gives these articles legal effect.

In contrast, with a corporate charter in place, the organization can enjoy the advantages that come with being a corporation . In addition to the limited liability of the shareholders, these include tax deductions on expenses, access to capital by selling stock and the flexible transfer of ownership.

Tip. The five main characteristics of a corporation are limited liability, shareholder ownership, double taxation, continuing lifespan and, in most cases, professional management.

Generally, a basic corporate charter contains details stating the name of the company and the board of directors, shareholders, etc. In addition, it includes the address of the company, other offices, if any, and the residency details of the directors.

A corporate charter, also known as a "charter" or "articles of incorporation," is a written document filed with the Secretary of State (or registrar in Canada) by the founders of a corporation. It details the major components of a company, such as its objectives, structure, and planned operations.

While detailed requirements vary from state to state, a corporate charter usually includes the following: Corporation name and address. Purpose of the corporation. For-profit or nonprofit status. Registered agent name and address. Number of authorized shares. Share classes and their par values. Corporate directors.

Generally, a basic corporate charter contains details stating the name of the company and the board of directors, shareholders, etc. In addition, it includes the address of the company, other offices, if any, and the residency details of the directors.

Upon the formation of a corporation, its founders submit a corporate charter. This document, which is mandatory in every state, establishes the legitimacy of an incorporated business.