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Steps for incorporating a business

If you are starting the new year with ambitions to start your own business, you should make sure that you combine your vision for the future with actions in the present. You probably already have a good idea of your business idea and how you would like it to grow in the next few years.

When you have a roadmap for your business, the next step is to take action to incorporate the company. The following are some key steps to set yourself successfully on this path.

Choose a name

You must choose a unique name that is not currently on file. There are rules for choosing a name that you must abide by. Or example, it cannot contain any words that imply an association with the federal government.

Appoint directors

You may want to involve others in the running of your company, or you may simply want to appoint yourself as the director. Either way, you will need to take action to formally appoint directors.

Take action to incorporate

Filing articles of incorporation is done by filling out a form provided by the office of the Secretary of State. Filing these articles is the formal act of creating your business.

Put in place bylaws of the corporation

The bylaws of a corporation set out how the business will be run. They are vital when dealing with shareholders and directors. Specifically, they should dictate how certain issues will be dealt with and how often meetings will be held.

If you are in the process of setting up your own business in Ohio, you should make sure that you fully understand the process so that you can do so efficiently.

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