How Do I Incorporate Using Founded?

Founded makes it easy to professionally incorporate your business. With Founded, you get more than just the government-issued Articles of Incorporation. By following a simple step-by-step process, your corporation is fully structured, each person is properly assigned to a position, and shares are issued to shareholders. With a professional incorporation, you will be ready to conduct business, take on revenue, and prepare for growth and investment.

There are four easy steps to completing your incorporation on Founded.

1. Choose Your Name

The name of your corporation is the first decision you need to make, and it’s incredible simple with Founded.

Our automatic business name search tool will help you find an available business name instantly. Simply type your desired name and learn whether it has a good chance of being accepted.

It’s important to remember that a good corporate name has three elements:

[Distinctive Element] + [Descriptive Element] + [Legal Ending]

For example, Apple Computer Inc. Learn more here.

Once you choose a name that is right for your business, Founded files the necessary documents with the government to get final approval for your name.

2. Appoint Directors & Officers

Whether you’re big or small, every corporation in Canada must have directors and officers. It is very common for one person to be both a director and an officer of a corporation. Directors oversee the management of the corporation, while the officers are operating the day-to-day business.

If you’re the corporation’s only owner and manager, Founded makes the appointment of directors and officers extremely quick and simple. You just have to confirm that you are the sole owner and manager, then you will be appointed as the director and officer of the corporation.

If you have other people involved in managing the business, you will need to appoint officers and directors. Founded automatically prepares all the necessary documents, making it really easy for you to get it done right.

3. Define Share Classes & Issue Shares

Shares are the units of the company that determine who owns it. Founded issues shares to shareholders immediately after the incorporation process is complete. As your company grows, Founded will keep track of your shareholders over time.

You can create unlimited share classes in the Shares & Share Classes section of Founded. You can easily select whether each share class will have voting rights. By switching to “Custom” mode, you can choose more complex types of shares (called “preferred shares”) if you need them in your corporation for future planning or tax reasons.

Once you create the share classes, you can distribute the shares to the shareholders. Founded has a flexible approach that lets you set up shares in a way that works best for you. You can choose a custom number of shares, or use our industry-standard default settings.

4. SUBMIT

Once everything is completed, simply eSign the incorporation package, and Founded takes care of the rest. Congratulations, you’ve incorporated through Founded!