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In this video tutorial, Michael Lapete discusses the essential steps for organizing a corporation after incorporation. He emphasizes identifying the key roles within the corporation: shareholders, directors, and officers. Shareholders are the owners of the corporation, akin to stockholders, and are not involved in daily operations, while directors are responsible for making decisions and are elected by shareholders. The board of directors plays a crucial role as they hold liability for the company's decisions. This initial organization is vital for setting up a structured corporate framework.