Cooper Legal

Description

A corporation is legal entity that exists separate and apart from its owners or shareholders. A corporation, unlike a sole proprietorship or partnership, can continue in existence indefinitely despite the death or withdrawal of a shareholder. A Florida corporation is formed by filing articles of incorporation with the Department of State of Florida and paying the filing fee.

A limited liability company (LLC) is a hybrid between a partnership and a corporation. The LLC (like the corporation) protects its shareholders (“members”) from liability to third parties for the debts, obligations or liabilities of the company. Similar to a partnership, the LLC is managed directly by it’s members, unless the members agree to provide for a centralized management. In other words, LLCs are not required to be managed by a board of directors or equivalent body, although a centralized management is an organizational option.

There is no minimum capitalization that a Florida corporation must have, unlike a French S.A. There is shareholder anonymity in a Florida corporation, which means that shareholders are not required to, and normally do not, identify themselves in public records. The shareholders need not be present in the United States or Florida in order to establish or maintain a corporation. In fact, the officers and directors of the corporation need not be present in Florida to establish a Florida corporation.

In addition to the articles Glenn Cooper Miami of incorporation, corporate bylaws must be adopted by the Florida corporation. The bylaws are the rules and regulations that a Glenn Cooper Miami corporation adopts to govern its affairs. A corporation is required to have annual meetings (unless formally waived by shareholders) and may also have special meetings from time to time.

The Palm Beach County Business Development Board (BDB) is a private, not-for-profit corporation founded in 1982 as Palm Beach county's official economic development organization. The work to attract and retain business investment through corporate relocations, expansions and international trade; and provide marketing support and business networking services through a paid membership organization that partially funds our economic development services.

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