Posted in Marketing and Strategy Terms, Total Reads: 324
Definition: Corporate Kits
A corporate kit is a binder or a file which contains information of the firm and documents like legal documents, stock certificates, record keeping books etc. A corporation may require a corporate kit at the time of its formation. Though a there is no legal binding on the corporations to maintain or give a corporate kit as such. It is on the organisations’ discretion to purchase corporate kit through an attorney or a company which makes these. The shareholders in the meeting may decide on the contents of the corporate kit which includes things like whether or not to include paper stock certificates, seals etc.
The contents of the corporate kit vary from organisation to organisation depending on their requirements of the business. Some corporate kit contain paper stock certificate which show the ownership of the company. The issuance of paper stock certificate is not necessary which can be replaced by electronic stocks. If there is a case of stock certificates the legal binding on the firms is to have an accurate record of the stock issued to people. Another part of most of the stock certificates is the company seal which the company has. Over the past the seals have been increasingly replaced by embossers. Though a company may use seals on their discretion.
A more content of stock is of recordkeeping documents. Most of the corporations require that the minutes of the meetings be noted and kept as a record. Hence, most of the corporate kits have a minute book as its main component. It is convenient to keep minute books handy whenever a person is in a meeting.