Document background
The Memorandum and Articles of Association for Sole Proprietorship is a crucial document required when establishing a sole proprietorship business in the Philippines. This document is typically prepared during the business registration process with the Department of Trade and Industry (DTI) and serves multiple purposes: it formalizes the business structure, establishes operational guidelines, and ensures compliance with Philippine business laws. While not as complex as corporate documentation, it provides essential information about the business's identity, ownership, and operational framework. The document is particularly important for securing business permits, opening bank accounts, and demonstrating compliance with regulatory requirements. It should be drafted with consideration of the Business Name Law, Civil Code provisions on sole proprietorship, and relevant DTI regulations.
