Legal Definitions - promoter

A promoter is someone who encourages or incites a certain behavior. In corporate law, a promoter is the person who takes the initiative to create or organize a business venture. They are the founder or organizer of a corporation or business venture.

For example, if someone has an idea for a new business, they may act as the promoter and take the necessary steps to incorporate the business. This could include finding investors, creating a business plan, and registering the business with the government.

The promoter is not always the incorporator of the corporate entity. The incorporator is the person who signs the certificate of incorporation, which officially creates the corporation. However, the promoter's actions are usually ratified by the formation of the board of directors and their subsequent conduct.

Overall, a promoter is someone who takes the lead in creating a new business venture and encourages others to get involved.