Business Law
\nSamuel Seller wants to form a corporation. He has a thriving business in which he buys cheap sports equipment and then re-sells it at his store at a substantial profit. He needs some extra cash right now to buy a new store and he does not want to risk his personal assets by taking out a loan. Therefore, Samuel has decided to form a corporation. Samuel would like to sell shares of his business to anybody who is willing to invest in her company, but he wants to limit the total number of shares issued to 100 shares, as he doesn’t want too many people to own the company or to make ownership of his corporation overly complex. Samuel’s residence is 555 Storm St., Windyville, New Windsor. His store is located in downtown Windyville, in the county of Black Rock. He would like this corporation to be formed as early as possible.<\/p>\n
First, please draft Samuel’s certificate of incorporation. You may use a form from any state you choose but make sure you use a state form and not a generic certificate. You may use a form from any state you choose, though we recommend using one from your home state.<\/p>\n
Second, and more importantly, please draft a short letter to Samuel advising him in terms of what other immediate issues he should consider before actually going through with the plan to form a corporation. You do not need to advise him about other business forms, but you should discuss issues such as who will manage the corporation, which documents need to be prepared and filed, applicable fees, etc.<\/p>\n
Information regarding fees and the like that cannot be found in the courseware should be found online.<\/p>\n
Please submit both documents in one file as the system will not allow you to submit two separate files for one assignment. If you are unsure how to combine files of different formats, please see the following tutorial. Thank you!<\/p>\n