Legal Definitions - Articles of Incorporation

Definition: The Articles of Incorporation is the main legal document that governs a corporation. It is also called the corporate charter. The Articles of Incorporation typically includes the purpose of the corporation, the type and number of shares, and the process of electing a board of directors. This document must be filed with the state when incorporating a business, and can be changed or cancelled as allowed by law and the articles themselves.

For example, if a group of people want to start a new business, they will need to file Articles of Incorporation with the state. The document will outline the purpose of the business, such as selling products or providing services. It will also specify the number and type of shares that can be issued, and how the board of directors will be elected.

Another example is if a corporation wants to change its name or purpose, it will need to amend its Articles of Incorporation. This process involves filing a new document with the state that outlines the changes being made.

These examples illustrate how the Articles of Incorporation is a crucial document for any corporation. It sets out the rules and regulations that the business must follow, and provides a framework for decision-making and governance.