What is the incorporation process?

The incorporation process is the process of creating a legal business entity such as a corporation or limited liability company. This creation is done by submitting paperwork to the appropriate government agency and paying the required filing fees. The process is typically divided into five steps. First, the incorporators, usually the company founders, create the company's charter, which defines the company's purpose, location, and corporate structure. Second, the incorporators file the applicable paperwork with the appropriate government agency. Third, the company's directors, officers, and shareholders must be identified and the company's bylaws created and adopted. Fourth, the company must comply with corporate formalities, including registering names, holding meetings, and issuing ownership certificates to shareholders. Finally, the company must register for taxes, obtain the appropriate licenses, and comply with the issuing state's regulations.