Compensation of Directors or Trustees of a Corporation
Directors and trustees of a corporation are not automatically entitled to compensation for their services.
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How Many Incorporators are Required to Form a Corporation?
The Revised Corporation Code allows one (1) incorporator for a One Person Corporation (OPC) while a corporation that is not an OPC requires at least two (2) but not more than fifteen (15) incorporators.
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What is the Minimum Number of Shares of Stock to Form a Corporation?
There is NO minimum number of shares of stock required for a corporation to possess. However, certain industries or corporations with foreign equity are required to have a minimum paid-up capital.
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What is a Proxy?
This article is all about corporate proxies, their use, and the laws and regulations that govern them in the Philippines.
How to Elect Directors of a Corporation
Directors are elected by the stockholders of a corporation in an election held where the owners of majority of the outstanding capital stock, whether in person or through proxy, are present.
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Protection of Trade Names
A trade name pertains to the identity of a company and is given protection by the law even prior to or without registration, against any unlawful act committed by third parties. The right to the exclusive use of a corporate name with freedom from infringement by similarity is determined by priority of adoption. The injured company can seek relief from the SEC.
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What is a General Information Sheet?
The General Information Sheet is a document embodying certain information about the corporation which is signed and attested to by the Corporate Secretary and usually filed annually with the SEC.
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What Is A Secretary’s Certificate?
This article enumerates the general functions and duties of a Corporate Secretary. Further, this article defines a Secretary’s Certificate as a written document executed by the Corporate Secretary confirming the actions and resolutions of the Board of Directors. When regular on its face, third parties may rely on the Secretary’s Certificate without need of further investigation on the veracity of the facts contained therein.
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What Is A Board Resolution?
This article defines what is a Board Resolution. Corporate powers are exercised by the Board of Directors. A Board Resolution is a formal document which serves as evidence of the actions and matters taken by the directors of the corporation in the meeting duly held.
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What Are The Duties Of The Corporate Secretary In Corporate Meetings?
This article is about the duties of a Corporate Secretary in corporate meetings. The Corporate Secretary is tasked to send out the notices of meetings, receive proxies, certify the existence of a quorum, note the vote of the directors, ensure the proper holding of the meeting and issue a Secretary’s Certificate to attest to what transpired during the meeting.
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