This is one of the questions I hear often, particularly because services like Legal Zoom make so much hay with pricing. So I thought to myself: Why not share my pricing, plus what you actually get for the price?
While this isn’t the price in every case because some cases are different, this scenario covers most situations.
My price for a forming an Oklahoma corporation is typically $800.00. What do you get for this price?
Certificate of Incorporation. The Certificate of Incorporation contains the basic information about the corporation: Name, Resident Agent, and the initial directors of the company and are filed with the Oklahoma Secretary of State.
By-laws. The By-laws are the most important document of the corporation. They govern the management of the corporation, the allocation and distribution of profits, duties of officers, directors and shareholders, voting, procedures for transfers of stock and various tax related matters. The by-laws can enhance the asset protection features of the corporation, or it can weaken them depending on the provisions.
Meeting Minutes. Meeting Minutes memorialize decisions made by the directors and shareholders of the corporation, both to get the company going and to maintain it each year.
Tax ID & Elections. In most circumstances, a corporation requires a Tax ID Number from the IRS. Essentially, it is the equivalent of a social security number for the corporation. Bank accounts should be opened with this Tax ID and all corporate business should be conducted under this Tax ID.
Stock Certificates/Transfer Ledger. Stock Certificates manifest ownership in the corporation. A corporation does not have shareholders until shares of stock are issued. That means that there must be some manifestation of intent to issue the shares of stock, either in the Meeting Minutes or in the signing of the Certificates.
Standard Employment Agreement. It pays to have it in writing with your employees. This way, both the employer and the employee know what the deal is. You can do this with the Employment Agreement which has been tested and refined in many scenarios.
Standard Independent Contractor Agreement. Most small businesses use the services of independent contractors. As with the employment relationship, it is helpful to document the Independent Contractor relationship in writing. You can achieve this with the simple Independent Contractor Agreement I provide.
Free Telephone Calls. As you get your business up and running, you need some more guidance on legal issues. I am happy to provide some help by talking to you on the telephone for no charge, for the first six months after we set up the company.
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