Number of Shares: Par Value

Nov 23rd, 2009, 04:11 PM #1 (**permalink**)

I have been looking over the Initial Articles of Incorporation.

The form seems easy enough except at the bottom of the first page (#4) it has a fill in for the number of shares, type and par value.

I have been searching for the last couple of hours and can't figure out what this means.

The instructions point to this form (ORC 1701.04(A)), but it does not seem to describe what should actually be filled in.

Any guesses?

Nov 23rd, 2009, 05:55 PM #2 (**permalink**)

This is a statement that, to the best of my experience, has no proper answer.

In the corporations I've seen, you would usually issue a huge number of shares at an itty-bitty price.

Something like 3,000,000 shares at a par value of $.01.

This means that you'll issue $30,000 worth of stock for this company.

The "type" is normally "Common".

All that being said, if you need to ask these questions -- you need an attorney. This is the wrong place to scrimp.

Nov 23rd, 2009, 09:01 PM #3 (**permalink**)

I have read on here as well as other places that setting up a LLC was not hard and that an attorney was not needed.

I guess the devil is in the details. I left a message with an attorney today, thanks for the response.

Update: got the wrong freaking form! DOH!

Nov 24th, 2009, 10:13 AM #4 (**permalink**)

Setting up an LLC really isn't that hard.

But you are asking questions related to setting up a Corporation, not an LLC.
(Although you can be set up as a corporate LLC, I believe.)

Corporations have shares.
LLC's have percentage of ownerships -- generally.

The attorney is always a good move -- especially your first time.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Four is the loneliest number for bonds	Fastlane-News	Economy & Finance News	0	Jun 8th, 2009 08:00 PM
Record number on unemployment	Fastlane-News	Economy & Finance News	0	Mar 12th, 2009 11:20 AM
Selling shares of myself	williell	General Business Discussion	12	Feb 9th, 2009 06:55 PM
Record number of borrowers get mortgage help	Fastlane-News	Residential Real Estate News	0	Nov 25th, 2008 06:00 PM
toll free number services	ryanpal	Business Building (E-Biz/Internet)	7	Jul 23rd, 2008 01:06 PM

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)