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Hi, this is Lee Phillips. Im an attorney and this is another piece in my series on YouTube about corporate formalities. What you do when you create and operate a corporation or a limited liability company. And the two animals are quite similar in their care and feeding. Well assume that youve set up your company. You file all the stuff with the state. Youve signed everything they need. Youve paid your money. Now what happens? Well, one of the first things that you need to do is decide whos the owner or owners of your company. That may be you, it may be you and your husband or wife, it may be you and your partners. And Im not calling a partner in a partnership sense, Im just saying the people you work with in the company. But who owns it? Well you need to define who owns it. Sometimes thats required in the articles of incorporation or the articles of organization which are the papers you file with the state to create the company. But its almost always required, or should be a
