Company Seal Requirements
A company seal is your management board who approves a tool used to demonstrate essential documents from your company and agreed upon. Company name, year of the corporation and the state of which the corporation takes place is on your company seal. A company seal is merely the signature of your company.
Some documents you can use your company seal with:
– Employment and franchising agreements
– Management board meeting minutes
– Tenancy contract
– Sales contracts
– Loan agreements
– Other agreements related to your company
Companies can get a company seal, make changes on it and use them on the documents as they wish. Rules about the use of this company seal are usually set during the board of management meetings; this meeting is conducted right after the incorporation process is completed.
One of the most critical decisions to make in the first board of management meeting is to decide how many shares are to be sold (or the membership certificates for LLCs). Company sale can be used to approve these decisions alongside with the signature of the director.
It is quite common that the company seal is given to secretaries; however, the board of management can also provide it to another officer.
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