BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Key Takeaways. A corporate charter is a document that is legally required for a business to be identified as a corporation.

Detailed explanation-2: -Corporation. A corporation is a legal entity, operating under state law, whose scope of activity and name are restricted by its charter. Articles of incorporation must be filed with the state to establish a corporation.

Detailed explanation-3: -A corporate charter is a document filed with the Secretary of State or registrar to establish a company as a corporation. The corporate charter must detail the governance, structure, objectives, operations, as well as other major details of the company.

Detailed explanation-4: -A corporate charter-also known by the term articles of incorporation-is a legal document that the founders of a corporation file with the secretary or registrar of the state in which they intend to operate. Only upon approval of the charter does the business become an officially recognized corporate entity.

Detailed explanation-5: -A Memorandum of Association (MoA) represents the charter of the company. It is a legal document prepared during a company’s formation and registration process. It defines the company’s relationship with shareholders and specifies the objectives for which the company has been formed.