Legal Question in Business Law in California
How To Change Corporation Name Legallly
I recently bought out three of mine partners. I do all of the stock transfer ledger and certificate myself to save some money. Now, I wanted to change the name of the corporation. Is there any way I can do it myself.
Thanks inadvance for your advise
2 Answers from Attorneys
Re: How To Change Corporation Name Legallly
You need to file amended articles of incorporation with the Secretary of State. You should also adopt a resolution by the Board of Directors. Whether you can do it yourself depends on your learning how to prepare the papers and file them correctly. You may find guidebooks available at a library or bookstore.
Re: How To Change Corporation Name Legallly
This general response assumes the corporation is a California corporation. You obviously believe that continuing to conduct your business activities as a corporation is beneficial. Although your question suggests you feel you do not need legal advice in order to accomplish the desired "corporate reorganization" (e.g., the so-called perfunctory act of changing the corporate name), it may not be in your best interests to do so without advice of legal counsel. I would recommend your consult with a local business attorney to make certain all of the "formalities" involved with a corporate reorganization are observed (e.g., how your personal liability for prior corporate acts is affected after the reorg; what impact the reorg will have on your ongoing personal liability for corporate acts; determine to what extent any outstanding corporate federal and state tax liability exists, and what impact that will have on you personally after the reorg; making certain proper safeguards exists to preserve the benefits of the "corporate shield"; determine what impact the reorg may conflict with other corporate agreements currently in effect, such as without limitation business leases, existing buy-sell agreements, etc.). If the business is a for-profit business worth continuing, you will probably have the need to consult a business attorney from time-to-time anyway.
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