Q&A on The Corporate/Company Seal
Filed Under: General Corporation, Limited Liability Company, Q&A
Tags: General Corporation, Limited Liability Company, Q&A, The Company Seal, The Corporate Seal
When talking to clients we often get asked:
Is the company or corporate “seal” required? and What is it’s main function?
The corporate seal is a tool used to stamp or emboss your important documents to show that the document is certified by and agreed upon by the Board of Directors of the company. The seal contains the company’s name, year of incorporation, and the state filed in. Think of the seal as the official signature of the company.
Documents you might want sealed, are employment and vendor contracts, minutes of Directors meetings, leases, agreements of sale, loan documents, and other commitments by the company.
The company may adopt a seal, change it as needed, and authorize it to be used by causing it or a facsimile to be affixed or impressed or reproduced in any other manner. This is usually done in the organizational meeting, called by the initial Director of the company. This meeting is normally held as soon as possible after incorporating. Once this meeting is held and the proper documents are signed, sealed and placed in the minute book, the corporation or LLC has the authority to conduct the day-to-day operations of the business.
One of the first orders of business in this meeting is the issuing of stock, for a corporation, or issuing membership certificates, for an LLC. The seal can also be used to stamp the stock / membership certificates, along with the signature of the President. This is important because the certificates and the board resolution authorizing the issuance of the certificates are the evidence that prove ownership in the entity. Making sure the stock certificates are properly stamped and signed by the President can make it harder for someone to claim ownership with fraudulent certificates, which does happen from time to time.
It is typical for the secretary to keep possession of the seal in order to stamp office documents, however the Board of Directors may give general authority to any other officer to affix the seal of the Corporation and to attest the affixing by his signature.
The corporate seal has been used in some form since Roman Times. During the middle ages, the seal was stamped in melted wax, which assured that no one had tampered with the document and that the document was authentically signed by the person whose name appears on it.
Do you need one? It’s not legally required, but many companies form the beginning of business history have chosen to adopt and use the Company, or Corporate seal. For more information on the seal, or to order additional seals for you company, contact Harvard Business Services.
Privacy in Delaware: What’s on Record?
Filed Under: Delaware, Franchise Tax, General Corporation, INC Knowledge, Limited Liability Company
Tags: Delaware, Franchise Tax, General Corporation, INC Knowledge, Limited Liability Company
Many clients who incorporate or form an LLC in Delaware want to know exactly what information is private and what is public. Since one of the primary benefits of incorporating in DE is anonymity; we will spell out the details. The most common question we encounter is “What’s on the record?”
For the LLC filed through a Professional Registered Agent this is very simple. These LLC’s have the privilege of an anonymous filing. This means that only the company name and the name and address of the agent will typically appear; along with the date of filing and the company file number. With each year after the filing; there will also be record of the company’s Franchise Tax payment amount and the date it was paid. No member or management data will appear on the public record.
Corporations filed in Delaware can also enjoy a private filing; however, with each annual report and Franchise Tax payment, the name and addresses of officers and directors must be submitted with the FT payment. Obviously, the difference concerning the anonymity is that the privacy is shorter lived for the corp.; than for the LLC’s. Filing date and file number also appear for corporations. You may file the corporation with anonymously, but by March 1st of the following year; the FT information will be available to the public through the State of Delaware. A fee of $10.00 is required by the State of Delaware Division of Corporations to obtain this information. Although it is obtainable, it comes at a cost. Many states simply post all the information on their Division of Corporations website where it can be easily searched.
When self-filing either type of entity; individuals will not have the benefit of anonymity. They must reveal their name and address as the incorporator. The benefit of privacy is typically lost when filing the company yourself. Many clients initially want to file their company documents themselves, but the benefit of privacy tips the scale and they often chose a service such as Harvard Business Services, Inc. to handle the filing and agent details. For the drawbacks of the DIY filing please click HERE.
Video: I Formed My Delaware LLC or Corporation: What Happens Next?
Filed Under: Delaware, General Corporation, Limited Liability Company, Videos of Interest
Tags: Corporation, Delaware, Limited Liability Company, Videos of Interest
Upon receiving your order – Rick Bell – our CEO will explain the process of filing your company and personally congratulate you on starting your new company. Rest assured with Harvard Business Services we will prepare and file all documents with the State of Delaware so you can focus on other important issues. Learn more at http://www.delawareinc.com
In this video, Rick Bell shows you behind the scenes of Harvard and what goes into forming your Delaware LLC or Corporation.
Video: LLC vs Corporation: Which is Best?
Filed Under: Delaware, General Corporation, Limited Liability Company, Videos of Interest
Tags: Corporation, Delaware, Limited Liability Company, Videos of Interest
Want to form a business in Delaware? It has never been easier. Find out which type of company is the best for your business and then Contact Harvard Business Services at http://www.delawareinc.com.
In this video our Sales Executive, David Zeigler and Director of U.S. Sales, Brett Melson explain the difference between the LLC and Corporation.
Video: The Best Way to Form a Delaware LLC or Corporation
Filed Under: Delaware, General Corporation, HBS Announcements, Limited Liability Company, Videos of Interest
Tags: Corporation, Delaware, HBS Announcements, Limited Liability Company, Videos of Interest
At Harvard Business Services, Inc., we focus on doing one thing exceptionally well – forming Delaware LLC’s and Corporations. We’ve been the Delaware specialist for almost 30 years! HBS is directly online with Delaware’s Division of Corporations – we can serve you quickly and efficiently. Visit http://www.delawareinc.com or call 800-345-2677 with any questions.
In this video our Chairman/CEO Rick Bell takes you on a tour of Harvard Business Services and explains what makes Harvard Business Services Delaware’s Premier Formation Specialists.
