Running a Corporation - Posted by Michael A. Bardelli
Posted by Michael A. Bardelli on February 11, 2002 at 05:03:10:
Hello to all,
As I am new to the whole business of running a corporation, how does one run one? I am not new to buying and selling houses using traditional methods but I have never run a corporation. The reason I ask is that I am getting ready to form a C-Corporation soon to protect my assets from tenants in my rental property should they get hurt, etc. I also plan to expand to flipping instead of just rentals and maybe doing some buy and selling using owner financing where I then immediately sell the “paper” for cash. Here are my specific questions.
As a corporation, how many shares of stock am I required to have at the start of the corporation? Can I issue just one share to myself making me the sole owner of the corp?
Is there any requirement that I register a private corporation with the Securities and Exchange Commission and issue stock that will trade on the major exchanges?
If I want to take on an investor in my private corporation, can I simply print up more stock certificates and sell shares to that individual or is there some other way to do it?
I have many more questions as well. Is there a good website or book that breaks it down in first-grade terms for someone like me to understand?
Thanks in advance for all replies.
Michael A. Bardelli