Key Tips to Keeping Corporate Minutes

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If you are like most business owners, you've probably been spending your time juggling the demands of your company and have little energy or time to deal with this pesky task. But, if you incorporated your company keeping corporate minutes is required by law, and falling behind in this critical task could jeopardize your corporation's liability protection, tax advantages and other corporate benefits. So how do you get them done? We've put some tips together to get you on your way.

Tip 1: Record key company activities

Keeping corporate minutes doesn't mean recording every meeting, but rather recording meetings that involve key decisions or key company activities. We've provided some examples below.

  • Annual director and shareholder meetings
  • Employee hires and compensation increases
  • Financial activities: new company bank accounts, loans, company credit cards, etc.
  • New officers announcements
  • Issuance of new stock

Tip 2: Include pertinent details for each recording

In addition to recording the key company activity or decision, it's good to consider including the following information:

  • Full name of your company
  • Name of the individual conducting the meeting
  • The date and time of the meeting
  • Meeting location
  • List of meeting attendees and list of those absent
  • List of those absent

Tip 3: Keep it simple

You don't have to have a legal vocabulary, simply stick to the facts and keep the language straightforward and professional.

Tip 4: Select a format for recording your minutes

If you stick to a basic format for taking your corporate minutes, you're more likely to establish an ongoing process. You can handwrite your minutes or record them electronically, just remember to print them out and file them. It's also a good idea to dedicate a folder to keep them together.

If time is of the essence and you're looking for an easy solution, take a look at our LegalZoom Minutes ManagerTM, an online program that guides you through pertinent questions and takes care of the formatting based on your meeting type. You simply fill in the answers, and we create your professionally formatted minutes and email them to you in 24 hours. With your 1-year subscription you can create an unlimited number of corporate minutes, including Initial, Annual and Special meetings. Plus, as a valued LegalZoom Newsletter customer, you will receive a $20 discount off the regular subscription price ($99/year). To subscribe or to find out more, visit www.legalzoom.com/minutes, and enter code MINS20 at checkout to receive your $20 discount.