Articles of Association for Sole Proprietorship, while not mandatory under U.S. law, serves as a crucial internal document that formalizes business operations and management procedures. This document is particularly valuable when seeking business loans, entering into contracts, or establishing relationships with suppliers and customers. It typically includes details about business structure, capital investment, operational procedures, and management responsibilities. Though sole proprietorships are the simplest business structure in the U.S., having formal Articles of Association demonstrates professionalism and organizational clarity.
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1. Article 1: General Provisions: Business name, principal place of business, purpose of business, and ownership declaration
2. Article 2: Nature of Business: Detailed description of business activities and scope of operations
3. Article 3: Capital Structure: Initial capital investment and financial structure of the business
4. Article 4: Management: Management structure and decision-making authority
5. Article 5: Financial Matters: Accounting practices, fiscal year, banking arrangements
1. Article 6: Employees: Employment policies and procedures when the business plans to hire employees
2. Article 7: Succession Planning: Business continuation plans in case of death or incapacity of the owner
3. Article 8: Intellectual Property: IP ownership and protection provisions for businesses involving intellectual property
1. Schedule A: Business Assets: Detailed list of business assets and their values
2. Schedule B: Licenses and Permits: Copies of all business licenses and permits
3. Schedule C: Insurance Policies: List of insurance coverage and policy details
4. Appendix 1: Operating Procedures: Detailed business operating procedures and protocols
5. Appendix 2: Forms and Templates: Standard business forms and document templates
Relevant legal definitions
Business
Sole Proprietor
Trade Name
Principal Place of Business
Fiscal Year
Business Assets
Business Records
Operating Expenses
Gross Revenue
Net Income
Business Day
Governing Law
Capital Account
Business Purpose
Operating Hours
Confidential Information
Intellectual Property
Financial Statements
Accounting Records
Business Licenses
Trade Secrets
Operating Procedures
Territory
Working Capital
Material Change
Sole Proprietor
Trade Name
Principal Place of Business
Fiscal Year
Business Assets
Business Records
Operating Expenses
Gross Revenue
Net Income
Business Day
Governing Law
Capital Account
Business Purpose
Operating Hours
Confidential Information
Intellectual Property
Financial Statements
Accounting Records
Business Licenses
Trade Secrets
Operating Procedures
Territory
Working Capital
Material Change
Clauses
Business Name and Formation
Purpose and Scope
Capital Structure
Management Authority
Financial Management
Banking Arrangements
Record Keeping
Business Operations
Decision Making
Asset Ownership
Intellectual Property Rights
Confidentiality
Business Hours
Location of Business
Fiscal Year
Accounting Practices
Insurance Requirements
Compliance
Amendment Procedures
Dissolution
Succession Planning
Liability
Dispute Resolution
Governing Law
Business Continuation
Purpose and Scope
Capital Structure
Management Authority
Financial Management
Banking Arrangements
Record Keeping
Business Operations
Decision Making
Asset Ownership
Intellectual Property Rights
Confidentiality
Business Hours
Location of Business
Fiscal Year
Accounting Practices
Insurance Requirements
Compliance
Amendment Procedures
Dissolution
Succession Planning
Liability
Dispute Resolution
Governing Law
Business Continuation
Relevant Industries
Relevant Teams
Relevant Roles
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