• Incorporators must file the Articles of Incorporation, along with the required processing fees, with the Minnesota Secretary of State. Once the filing is officially approved, the business begins its existence, as a separate legal entity.
• First, choose the name of your corporation. The name must be clearly different from the name of another business. So, at no extra charge, Proactive Management will perform three name searches to determine if your desired name(s) are available.
• This name must also include one of the following phrases "corporation," "incorporated," or "limited" or shall contain an abbreviation of one or more of these words, or the word "company" or the abbreviation "Co." if that word or abbreviation is not immediately preceded by the word "and" or the character "&"
• The name must not contain a word or phrase that indicate or implies that it is incorporated for a purpose other than a legal purpose
• The Articles of Incorporation will address:
  • Name and place of residence for each incorporator, all of whom must be at least 18 years old, and the signature of at lease one incorporator
  • Street address of the registered office and the name of the registered agent at such office. The registered office can be the same as the corporation's place of business and the registered agent can be a worker/officer/owner of the corporation.
  • The aggregate number, class, and par value (if any) of authorized shares
  • A statement of the preferences, qualifications, limitations, restrictions, and the special or relative rights including convertible rights, if any, in respect of the shares of each class, otherwise all shares have equal rights and preferences, all shares are common, and the par value is fixed at $0.01 per share
  • The duration of the company is perpetual
  • The purpose of the company, which can be to engage in any lawful business
  • The number of directors
    • on the first board of directors; thereafter, the number of directors will be set as specified in the bylaws , and any changes in the board will be reported to the Minnesota Secretary of State within thirty days
    • on the board of directors, and if the number of board members is less than three, the number must be stated in the articles of incorporation
• State incorporation fees vary based on the total par value of all authorized shares

Disclaimer - Not Providing Legal Services - Proactive Management, Inc. presents the material on this site as general information only. It is not offered as and does not constitute legal advice or legal opinion and should not serve as a substitute for advice from an attorney or accountant familiar with the facts of your specific situation. We provide business formation services. We are not a law firm and do not provide legal or tax advice or services. We make no warranty, express or implied concerning the accuracy or reliability of the content at this site or at other sites to which we link.