A corporation that has issued only one class of stock may conduct its business or enter into agreements that treat certain shareholders or creditors in a manner that causes the company’s actions/agreements to be considered a second class of stock.
Preparing corporate minutes is akin to the “red-headed stepchild” of corporate governing tasks. Ask yourself a question; are the potential consequences of failing to keep accurate, well drafted minutes worth taking a chance on? Would you bet your company on it?
When starting a business the legal form you choose will have a significant impact on how your company will run, be taxed and protect you from liability.