Minutes are permanent and formal records of business conducted and resolutions adopted at a meeting of the board of directors or shareholders. Once accepted at the next meeting, the minutes become an official representation of the previous...
llcs-corporations-partnerships
(Wex page)
A naked option, also known as an "uncovered option," is an option contract entered into where the seller does not actually own any, or enough, of the underlying stock. When the buyer exercises the option, the seller must purchase the shares...
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No-par stocks are those where the value of the stocks relies completely on the market, not at all based upon any guaranteed value (the par value) set at the issuance of the stocks. The corporate charter contains specific provisions for par...
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An offshore corporation, or offshore company, is a company that is chartered under the laws of a country other than the U.S. These offshore jurisdictions, like the British Virgin Islands or the Cayman Islands, have special offshore company...
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An operating agreement is the governing contract adopted by members of a Limited Liability Company (LLC). It lays out the business's course and helps operations and management become more organized. It can be used to regulate nearly all...
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Owners’ agreement or ownership agreement refer to the contract made between owners of a business entity that determines the rights of the owners. Ownership agreements differ based on the type of business such as partnerships or LLCs....
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Par value, also referred to as nominal value, is the face value of a bond or the stock value stated in the corporate charter and noted in the stock certificate. Par value of a bond or fixed-income instrument is crucial since it influences the...
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Stock that confers the holder a right to be paid first, before common (non-preferred) stockholders in the event of a dividend or liquidation payout, and additionally the right to also participate along with the common stockholders in receiving payment...