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his office is?
Steve
Oh sure, thank you.
Jackson
Hello, Steve, it’s so nice to see you. Sit down, please.
Steve
Thanks, Nick. How are you getting on?
Jackson
Quite all right, thanks. And what about you?
Steve
Everything is all right too. In fact I want to talk to you
about my business.
Jackson
Oh, I’ll be glad to do something for you.
Steve
Well, Nick. I need some legal advice. John and I are
thinking of incorporating.
Jackson
You
are going to expand, aren’t you? It seems that
your partnership has been doing very well.
Steve
Oh, yes. We have a success. Now some businessmen
are interested in investing with us. So could you
explain me what sort of
legal procedure I have to
follow to form a corporation?
Jackson
At first you have to apply for a corporate charter.
Steve
Well?
Jackson
Let me get this straight.
You want to issue and sell
stock in exchange for investment capital, don’t you?
Steve
Exactly.
Jackson
After you obtain
the charter the stockholders, as
owners, holds a meeting to organize the corporation.
Steve
Does that mean we
elect our Board of Directors,
adopt bylaws and choose the company’s officers?
Jackson
That’s what I mean.
Though the officers of the
company
supervise
daily
management,
the
stockholders always have final authority. They vote at
annual meetings.
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