Why Using a Template for your Articles of Incorporation is a Bad Idea
Are you in the process of launching a for-profit corporation (C-Corp) in Florida? This state requires you to include your articles of incorporation which is used to identify certain basic information about the company and its operating characteristics.
This document is not something you will want to make a mistake on, and the state recommends that filers get assistance from a Florida business attorney prior to filing.
This ensures that the document is not lacking any important sections and that it complies with the legal requirements of the state of Florida.
Required Sections of the Articles of Incorporation
Florida requires specific sections in your articles of incorporation including the following:
- Corporation Name
- Principal Place of Business
- Mailing Address
- Registered Agent Name and Address
- Registered Agent’s Signature
- Corporate Purpose
- Effective Date
- Stock Shares
There are additional items that may need to be included such as more extensive details about stock options, the powers of the corporation, dissolution procedures, indemnification clauses and other sections.
Therefore, you don’t necessarily want to only include the minimum information, and meeting with a business formation attorney can ensure that your articles of incorporation include everything needed for your specific situation.
Florida Corporation Bylaws
In addition, you will also need to create the corporation’s bylaws, and although they do not need to be filed with the Division of Corporations, they will cover important information such as when and how shareholder meetings will be held, the ability to issue stock certificates, the size of the board of directors, how the board will function, corporate office responsibilities and more.
Again, this is another area where the advice of your attorney will prove to be helpful.
Templates Are Often Lacking
You might find a template for your articles of incorporation, but mistakes can be quite easy to make when trying to modify a template for your business. This can result in delays in the processing of your business filing, compliance issues, and potential complications in the future.
Even if you have a business formation attorney in Florida simply overlook your articles of incorporation before you file them, it is much better than sending them out without any review at all.
You can also get advice regarding concerns such as business licensing, contracts, legal liabilities, copyright concerns, and any other pressing legal matters if you work with an attorney.
If you are in the process of launching a business in Florida, you likely have several questions on the above-mentioned matters and others. Contact Schecter Law today at (954) 779-7009.