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Simple English definitions for legal terms

corporate charter

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A quick definition of corporate charter:

A corporate charter is a document that a person creates when they want to start a company. It has important information about the company, like its name, what it does, and how much money it has. The charter also says how many people are in charge of the company and how they can be replaced. It's like a rulebook for the company to follow.

A more thorough explanation:

A corporate charter is a document that an incorporator creates and files with the Secretary of State in the state where the corporation is being formed. This document outlines important information about the corporation, such as its name, purpose, and capital structure.

For example, if someone wants to start a new company called ABC Inc., they would need to create a corporate charter that includes the following information:

  • The names of the original incorporators
  • The name of the corporation (ABC Inc.)
  • The purpose of the corporation (e.g. to sell products or provide services)
  • The capital structure of the corporation (e.g. the number and classes of shares)
  • Any voting rights attached to the shares
  • The size of the Board of Directors and their terms
  • The process for removing a member of the Board of Directors

The corporate charter is an important document because it establishes the legal existence of the corporation and sets out the rules and regulations that will govern its operations.

coroner | corporate governance

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HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
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