Purpose

• All states mandate the process of purpose as a means to regulate and monitor new business and organizations under development. The approval process is an important final check to ensure that you have all bases covered and are prepared to operate effectively and within the law. Once approved, your corporation will become a legitimate business entity within the state, and you can move forward with launching your new business venture to the public.
  
  

Content

• The content required in any sufficient statement of incorporation consists of all the basic information about your organization, including the name of the organization, address of the official place of business and all tax-related information (nonprofit status). Additionally, you must include the name of a contact person or owner/head of the organization who can be contacted concerning future communications. You must also prepare a brief statement of purpose for your business or organization that encompasses the mission of your company. If your business will have stock shares, you must disclose this information as well.
  
  

Preparation

• Someone within your business, even with minimal experience, can draft articles of incorporation by using online resources and referring to examples on file from similar entities. Grant Space recommends seeking additional resources and examples from the office in your state where you must file the articles --- often the secretary of state's office. In the event that the statement requires more complicated language or a higher understanding of legal and business proceedings, enlist the assistance of a professional in the arena of business law.
  
  

Cost

• You must pay a one-time fee when filing your new corporation's statement of incorporation. The exact amount varies depending on what your state and business registration office have established; these costs may range anywhere from $35 to $300. Inquire about price differences for a nonprofit or tax-exempt organization, as these prices can be considerably lower in most states.