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incorporate

v. 1) to obtain an official charter or articles of incorporation from the state for an organization, which may be a profit-making business, a professional business such as a law office or medical office or a non-profit entity which operates for charitable, social, religious, civic or other public service purposes. The process includes having one or more incorporators (most states require a minimum of three for profit-making companies) choose a name not currently used by (nor confusingly similar to) any corporation, prepare articles, determine who will be responsible for accepting service of process, decide on the stock structure, adopt a set of bylaws, file the articles with the Secretary of State of the state of incorporation, and hold a first meeting of incorporators to launch the enterprise. Other steps follow such as electing a board of directors, selecting officers, issuing stock according to state laws and, if there is going to be a stock offering to the public, following the regulations of the Securities and Exchange Commission and/or the State Corporations Commissioner. If the corporation is non-profit, it will have to apply for non-profit status with the home state, and may, if desired, also apply to the Internal Revenue Service for federal non-profit recognition, both of which require detailed explanations of the intended operation of the organization. 2) to include into a unit.

See also: corporation  incorporate by reference  incorporation  stock 

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