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© 2009-2018 Dana H. Shultz, Attorney at Law

I Think the Economy – and Business Confidence – are Improving

Spray-painted dollar sign

I think the economy – and business confidence – are improving. The reason: During the past week, two of my clients received unsolicited acquisition overtures from well-known Bay Area companies.

I’ll readily admit that this? does not represent a statistically valid sampling of local businesses. Nevertheless, I find this development meaningful because the last time a client was acquired was years ago. (more…)

Why Do We Need a Corporate Records Book?

Corporate Kit from Attorneys Corporation Service, Inc., symbolizing corporate records

Corporate Kit from Attorneys Corporation Service, Inc.

I recently answered a question on Quora. If you incorporate a company [in Delaware], should you purchase a corporate kit? My answer about corporate records books, and a follow-up exchange about providing records electronically, are reproduced, slightly edited, below.

A: When I form a corporation for a client, I include a corporate records kit in the fee (and do similarly for LLCs) because:

  • It is important – both to the company and to any shareholders or directors who may have an inspection right – that there be a single specified location where the complete, up-to-date corporate records book is kept.
  • The kit includes share certificates, which should be prepared – including applicable securities and restrictive legends – and signed to protect against allegations by third-parties that ownership interests were transferred to them.
  • The kit includes a corporate seal, which may (or may not) be helpful or necessary at some point.

(more…)