The person or people who undertake the preliminary steps to legally type an organization are known as the founder(s). This particular person or group is chargeable for making ready and submitting the required paperwork with the related governmental authority, sometimes the Secretary of State, to determine the company’s authorized existence. For instance, this would possibly contain drafting and submitting the articles of incorporation.
The position is essential because it units the inspiration for the entity’s authorized and operational framework. Correctly executing these preliminary steps ensures the enterprise can function legally and avail itself of some great benefits of company construction, comparable to restricted legal responsibility. Traditionally, this operate has been important to fostering financial progress by enabling people to pool assets and conduct enterprise below a protected authorized entity.
