Set Up Company Charter For Free

Chartered company: A chartered company's nature and powers of business are specified by the charter which establishes it. Royal Chartered Company is another name of the chartered companies. Bank of England, East India Company, British Broadcasting Corporation (BBC), etc. are some examples of chartered companies.

The project charter is a document that appoints a project manager and authorizes the project. It gives the project the green light, and it's the first document you will create when starting with the project. The business case explains what effects the project will have on the business.

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.

In 1215, the earliest famous example of a charter was the Magna Carta, which established the rights of the people of England. Colonial charters occurred in the 16th and 17th centuries and established the Thirteen Colonies of America. Today, most corporations need to be granted a charter to be legally recognized.

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.

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.

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.