You're thinking of starting a business. You might have researched the requirements for legally forming a business in your state, which usually means filing certain documents with the secretary of state. Is this all you need to do? Are there any additional documents or agreements you should have in place? While your state may not require additional documents be filed, many companies will want to create additional internal documents governing the company, perhaps for the reasons described in this post.
Common formation documents include bylaws or an operating agreement, depending on the type of entity you filed; resolutions confirming your officers and/or board members, and setting forth the ownership of your company, if there are multiple owners or members; and certain agreements for founders, depending on your business, which may include intellectual property transfer agreements, or vesting agreements for the founders' equity....Read More