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A minute book is a collection of important records that outlines the legal structure of a corporation, which is essential for maintaining compliance after incorporation. Incorporating a business offers advantages like limited liability, lower corporate taxes, and asset protection; however, it also comes with responsibilities, such as maintaining records and completing regular government filings. Traditionally, minute books were physical binders kept in a lawyer's office, but now, they are typically stored online for easier access and updates. The term "minute book" continues to refer to these corporate documents and records.
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