Why Do You Need a Company Minute Book?

Whether you have organized your corporation in Ontario, British Columbia or any other province, your existence as a corporate entity begins with the filing of your organizational “Articles of Incorporation”. After this initial document is filed, the company can only act through its Board of Directors, usually initially appointed by the Sole Incorporator. Election of officers, approval of stock issuances and option grants, credit arrangements, changes in authorized shares, and certain other matters must be documented to evidence proper authorization by the Board pursuant to the Company’s charter and Bylaws.

It is extremely important to keep excellent records. Over the life of your company, you will be asked on any number of occasions to provide evidence of Board approval of certain actions, whether in connection with the opening of an additional credit line, a seed round financing or on the eve of your initial public offering, when underwriters’ counsel really does want proof that the company was “duly incorporated” or backup supporting all those option grants over the years. Company counsel will also rely on these corporate records to back up a legal opinion or respond to due diligence requests from potential investors’ counsel or perhaps a company interested in acquiring your assets. Having up-to-date, clear and concise records of all Board actions will make those processes less painful. The alternative is not only painful but can become expensive in terms of legal fees if it’s necessary to reinvent the wheel by recreating and ratifying all past actions.

Canada Personalized Company Minute Books $39.99

Keep your company compliant. Your corporation must keep certain corporate records at its registered office in a single book, referred to as the “minute book” of the corporation. We provide a personalized company minute book in Ms and PDF format. Order today your personalized company minute book.