Articles of Incorporation

The video tutorial explains the essential components of the articles of incorporation, including the reservation of a corporate name, the principal business location, and the appointment of a representative for service. It also covers the business purpose, types of shares authorized, and the par value of initial stock. Some states may require the names of the initial board of directors. Once the articles are filed and approved, the state issues a charter or certificate of incorporation.

What is one of the primary responsibilities of the Incorporator when filing the Articles of Incorporation?

• Hiring the initial employees

• Choosing the company's logo

• Reserving a name with specific designations

• Setting the company's annual budget

Which of the following is NOT typically required in the Articles of Incorporation?

• Principal location of the business

• Name of the company's CEO

• Purpose of the business

• Representative for service of process

What is the term used for the initial value assigned to shares being authorized?

• Market value

• Book value

• Par value

• Face value

What might some states require to be included in the Articles of Incorporation?

• Names of the initial board of directors

• Employee salary details

• Projected annual revenue

• List of company suppliers

What document does the state issue once the Articles of Incorporation are accepted and approved?

• Business License

• Certificate of Incorporation

• Tax Identification Number

• Operating Agreement