Annual Corporate Housekeeping

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq.

Nina L. Kaufman, Esq., owner of Ask The Business Lawyer, is an award-winning business attorney, speaker, and Entrepreneur Magazine online contributor. She saves consulting and professional services companies time, money, and aggravation by serving as their outsourced legal counsel.

Posted on February 16, 2014 in Form a Company

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Happy New Year.

With the new year comes the sweeping out of the old, which is where your corporate housekeeping comes into play. Many entrepreneurs think their legal work is done once they’ve incorporated or formed a limited liability company. Not so. Most states’ statutes require you to compile a written record of your major activities at least once a year (called “annual minutes”). Nina Yablok’s Bizblawg gives a nice summary of what to do.

I’m not sure how to document “unanimous written consent.” Consult your business attorney, who can tell you what should be included and how it should be worded. Better yet, don’t do it yourself–delegate it.

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