Where to Incorporate

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Some people have made a big deal of what state to incorporate in. However, with a couple of very special exceptions the best place to incorporate is the state in which you live and/or plan to do business. The reason is simple – increased cost with little or no increased benefit. Recall from our discussion […]

Cooperatives

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How Are Cooperatives Classified? Cooperatives can be grouped according to what they are set up to do 1. Producing Cooperatives. 2. Marketing Cooperatives. 3. Purchasing Cooperatives. 4. Servicing Cooperative Producing Cooperatives In these cooperatives, members, as workers, extract, raise, or make goods. Such cooperatives may engage in mining, farming, manufacturing, or similar occupations. The self-help […]

Business Trusts

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Business Trust Basics A business trust is a legal organization set up for the control and management of assets and property. This type of trust has trustees who take responsibility for the management of the assets in the trust. The trustees manage the assets not for their own gain and benefit, but for the benefit […]

Statutory (Aka “Registered”) Agent

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At the time the Articles of Organization are filed, a written appointment of statutory agent and acceptance of the appointment signed by the designated agent must be filed in order that there is a responsible representative of the company upon whom legal documents may be served. Establish and maintain a statutory agent. This can be […]

The Legal Prerequisites to Begin Operation

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In Ohio, one or more “persons” may form an entity by signing and filing Articles of Organization with the Secretary of State and paying the specified fee (in Ohio currently $125, KY $40). A person means any natural person (including foreign or alien), partnership, limited partnership, trust, estate, association, limited liability company, or corporation; any […]