A client, Jack Porter, has approached your supervising attorney about incorporating his small event business to protect him from liability and gain additional capital, in your state. Jack’s business is to be called Osprey Financial, Inc. The company is a financial services and wealth management firm located in your state. Jack will be the registered agent for service of process. His address (and that of the business) is 5363 Apple Valley Dr., Suite 388, Middleville, 34526. Jack will be on the Board of Directors, and will also be a shareholder together with his sister Angela Porter, and his brother, Mark Porter. Jack will own 70%, with his sister and brother each owning 15%.
Your supervising attorney has requested you locate the proper Articles of Incorporation forms for your state (through the secretary of state website in your state) and prepare the forms to incorporate Osprey Financial Inc.
Your supervising attorney has also requested you research and explain in a short memo the following information:
The process for forming the corporation
The filing fees and timeframe for the corporation to be formed
Potential sample bylaws or sections of bylaws that might be applicable to a financial corporation that he can discuss with Jack at their next meeting
Our firm’s client, BlueMountain Inventions, LLC, has created a new invention, cellulox, a new pill that when taken daily, reduces the visibility of cellulite by 98%. The FDA has approved the pill, but BlueMountain never thought about patenting the pill. BlueMountain has decided to rebrand itself when it rolls out the new invention to the public in two months. It will be releasing a new company logo and marketing materials along with the launch. The client is very excited about its new invention, and is worried about protecting its intellectual property to ensure maximum profitability.
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