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Corporate resolution. A corporate resolution is a document issued by a board of directors, outlining a binding corporate action. [1] Resolutions may authorize routine transactions such as opening corporate accounts, or adopting a fictitious business name. [2] Others may be used to delegate, approve, or rescind decision-making authority to ...
e. Corporate law (also known as company law or enterprise law) is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations. Corporate law often describes the law relating to matters ...
t. e. In corporate governance, a company's articles of association (AoA, called articles of incorporation in some jurisdictions) is a document that, along with the memorandum of association (in cases where it exists) forms the company's constitution. The AoA defines the responsibilities of the directors, the kind of business to be undertaken ...
t. e. A limited liability company (LLC) is the United States -specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. [1] An LLC is not a corporation under the laws of every state; it is a legal form of ...
Limited companies may be limited by shares or by guarantee. In a company limited by shares, the liability of members is limited to the unpaid value of shares. In a company limited by guarantee, the liability of owners is limited to such amount as the owners may undertake to contribute to the assets of the company, in the event of being wound up.
An operating agreement is a key document used by limited liability companies (LLCs) to outline the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners, called "members".
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