How to set officers, directors and shares (C-Corp)
On the Roles step, pick a President, Secretary and Treasurer and at least one Director. One person can hold every role. Most startups keep the default shares and par value.
A C-Corp needs one President, one Secretary, one Treasurer and at least one Director. The Roles step asks "Who runs the company?" LLCs don't see this step.
Steps
- In the Officers panel, choose the President, Secretary and Treasurer from the list of people on your order.
- Choose at least one person under Directors (at least one).
- To add someone who doesn't own shares, select Add an officer who isn't an owner.
- In the Shares panel, check Authorized shares and Par value per share (USD).
- Select Continue.
When you start, the first owner already holds all four roles. Change them if someone else should.
Rules
- One person can hold every role.
- An owner that is a company can't be an officer or a director.
- If a role is missing, you'll see: "A C-Corp needs one President, one Secretary, one Treasurer and at least one Director (one person can hold several roles)."
Shares
The defaults are 10,000,000 authorized shares and a par value of 0.00001 USD per share. Most startups keep the defaults. If you're unsure, your lawyer or CPA is the right person to ask.