PL 216 Rasmussen College W2 Process of Incorporating a Business Memorandum

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  1. Purpose of Assignment: The purpose of this assignment is to understand the documentation necessary to form a corporation.Course Competency: Describe the structure of a corporation
  2. Instructions

    • A client, Jack Porter, has approached your supervising attorney about incorporating his small event business to protect him from liability and gain additional capital, in your state. Jack’s business is to be called Osprey Financial, Inc. The company is a financial services and wealth management firm located in your state. Jack will be the registered agent for service of process. His address (and that of the business) is 5363 Apple Valley Dr., Suite 388, Middleville, 34526. Jack will be on the Board of Directors, and will also be a shareholder together with his sister Angela Porter, and his brother, Mark Porter. Jack will own 70%, with his sister and brother each owning 15%.
    • Your supervising attorney has requested you locate the proper Articles of Incorporation forms for your state (through the secretary of state website in your state) and prepare the forms to incorporate Osprey Financial Inc.
    • Your supervising attorney has also requested you research and explain in a short memo the following information:
    • The process for forming the corporation
    • The filing fees and timeframe for the corporation to be formed
    • Potential sample bylaws or sections of bylaws that might be applicable to a financial corporation that he can discuss with Jack at their next meetin
  • My State is Florida