Illinois Corporate Kit What is a Corporate Kit? A Illinois Corporate Kit is a compilation of a business’ most important...
November 4, 2021What is a Corporate Kit? A Illinois Corporate Kit is a compilation of a business’ most important
records. Illinois Corporate Kits typically come as binders, making it easy for a business to stay
organized by storing all essential company records in one place. Local, state, and federal authorities,
among attorneys and accountants, may need to see your Illinois Corporate Kit in the event of any
proceedings or transactions. Illinois Corporate Kits aren’t expensive and can serve the purpose of
helping you avoid fines, penalties, legal action against you, and losses such as that of your business
license.
The contents of the Illinois Corporate Kit are documents that meet
the legal requirements for your business. Illinois Corporate kits also comprise records that are critical when
dealing with matters like court proceedings, raising capital, contracts, taxes, and accounting, transferring
ownership, as well as the rules and policies of your business. The corporate kit includes:
The articles of incorporation in Illinois are a legal document in the Illinois Corporate Kit that solidifies the
existence of a business entity within a state. Along with corporate bylaws, the articles of incorporation
outline the jurisdiction of a corporation, as granted by the state government. The Articles of Incorporation
typically include the name of your corporation, its purpose, the type of business it is, the address for the
physical location and the address for where the mail will go (registered agent), the number of shares or
members, and the bylaws of the business.
The Illinois Corporate Seal is the signature of your business as a separate legal entity. The seal in an Illinois
Corporate Kit is used to produce an imprint on official paperwork like legal documents and contracts; leases and
agreements, employment and vendor contracts, loan documents, minutes, operating agreements, and other company
records. The Corporate Seal may also be used to authorize and legitimize stock or membership certificates.
Having one makes your business stand out as more professional to any possible investors.
Corporate Minutes is the term used for the notes that a secretary records in and of the meetings held by the
board of directors, owners, members, officers, or shareholders. A secretary or assigned person will write a
record of every decision, outcome, or resolution discussed in that meeting as “minutes” and collect them in the
Illinois Corporate Kit. The corporate minutes may be required in significant business matters such as IRS
audits, raising capital or borrowing money, by an accountant to prepare taxes, or by an attorney in court
proceedings—among many other matters.
Corporate Bylaws in a Illinois Corporate Kit dictate the set rules of a corporation. Every business requires
rules and guidelines in which to operate, regardless of type; LLC, Corporations, Non-profits, Partnerships.
Business entities have coinciding titles for Bylaws; Partnerships have what is called a partnership agreement,
LLC’s write an operating agreement, but the constituents are similar to that of corporate Bylaws. Bylaws are a
complicated legal document and not something you should try to do yourself if you aren’t well-versed in its many
legal complexities and implications.
A stock certificate is a legal document declaring that you own shares of stock within a corporation. A stock
certificate certifies that you are the registered owner of a certain number of shares or a percentage of the
company, transferable only by you, and organized under the laws of the state. Illinois Corporate Kit stock
certificates are usually created with complex art designs to keep them from counterfeit reproduction. It
includes your name, business name, identification number, the number of shares or percentage of ownership, the
corporate seal, and signatures from authorities such as the president or treasurer.
The name of a business must abide by all state requirements and be uniquely distinguishable from other business
names. If you use a name that is too similar to a name used by your competition, that business may accuse you of
a trademark violation; you might be forced to choose a different name and may even have to pay monetary damages.
Part of our complete Illinois Corporate Kit includes, at no additional cost, our attorneys performing a
preliminary name search and helping you find and choose a name that avoids any possible legal penalties.
Important! When Qualifying Your Business in another state, you will not be able to use
the same corporate kit. If you qualify your business in
Illinois, Spiegel & Utrera, P.A. can customize a new state-specific company records book and seal
for the state you qualify in.
There are different Corporate Kits to choose from for each type of business entity, such as LLC’s, Corporations,
and Non-Profit Corporations.
The Illinois Kit holds great importance for a variety of business and legal matters, including:
Since many licensing authorities require company documents over time, the Illinois Corporate Kit is
essential to substantiate the information.
The Illinois Corporate Kit is the most complete business record-keeping tool one can have. Should an
audit occur, its contents will likely be required. There are situations where the IRS and state taxing
authorities may want to review your Illinois Corporate Kit.
Banks and creditors perform strict due diligence to qualify a business before lending money. They may ask
to review components of your Illinois Corporate Kit to satisfy their requirements.
Many investors might want to view documents within your Illinois Corporate Kit before they invest in your
company. If you cannot provide this, they may be less willing. Having a professional and organized
Illinois corporate kit with book and seal, stock certificates, minutes, and other material will give
investors the transparency they want to make them feel good about the deal.
Our $29.95 corporate kit pricing is only available for current year companies.
Yes, even INCLUDES Attorney’s Fee (No Hidden Attorney Fees).
Our $29.95 corporate kit pricing is only available for current year companies.
★★★★★
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