Keeping Legal Documents of Your Company In Good Standing

By Grit Daily Staff Grit Daily Staff has been verified by Muck Rack's editorial team
Published on November 5, 2022

When starting a business, one of the first things you will need to do is file legal documents with the state. These documents establish your company and set forth the rules and regulations by which it must abide. Keeping these documents in good standing is important so your business can operate smoothly and avoid any legal trouble. This blog post will discuss the importance of keeping your legal records up-to-date and in good standing and also provide tips on how to do so.

1. Why is it important to keep your legal documents in good standing?

There are a few key reasons why your legal documents must be up-to-date and in good standing. 

  • First, if you ever need to file a lawsuit or defend your company in court, having outdated or inaccurate legal documents could jeopardize your case
  • Additionally, if your company ever changes hands, new ownership will need to review your legal documents to ensure everything is in order. 
  • Finally, even if nothing major happens, it is always best practice to keep your legal documents updated so that you can avoid any potential problems down the road.

2. How do you keep your legal documents in good standing?

You can do a few things to ensure your legal documents are always up-to-date and in good standing.

  • First, it is important to keep track of any changes or updates that need to be made to your documents. You can do this by maintaining a master list of all your legal documents and then noting any changes that need to be completed after each document.
  • Additionally, you should set reminders for yourself to review your documents on a regular basis so that you can catch any changes that need to be made before they become an issue.
  • Finally, it is also a good idea to have an attorney or legal professional occasionally review your documents to ensure everything is in order.

3. Importance of keeping certified copies

When you file legal documents with the state, you will usually be given a certified copy of the document. It is important to keep this copy safe, as it is the only way to prove that you have filed the document. If you ever need to show proof of your filing, or if there is ever any question about the validity of your document, having the certified copy on hand will help to clear things up; if you need to have copies made, have them certified or validated and you’re not sure where to have it done, you could contact a Notary Public to assist you. There are professional people who will assist you, ensuring everything is well and in order, making it easier for you. If you ever need to make changes to your legal documents, you will need to file an amended version with the state, and having the certified copy will help to ensure that the amendment is processed correctly.

4. What to do if you have lost your certified copy

If you have lost your certified copy of a legal document, do not panic. You can usually obtain another copy from the state office where you initially filed the document. Be sure to bring identification with you, and be prepared to pay a small fee for the replacement copy. In the case of lost original documents, you will need to file an affidavit of the lost document with the state. This affidavit is a sworn statement that you have lost the document, and it will allow you to file a new copy in its place.

5. Tips for keeping track of your legal documents

You can do a few things to make tracking all your legal documents easier. First, keep all your documents organised so you can easily find them when necessary.

Finally, if you are more of a tech person, consider scanning and storing digital copies of your documents so that you can always access them, even if the physical copies are lost or damaged. It’s also a good idea to keep paper copies of important documents in a fire-proof and water-resistant safe to be on the safe side. By taking these simple steps, you can rest assured knowing that your legal documents are always in good standing.

In conclusion, keeping your legal documents in good standing is important so your business can operate smoothly and avoid any legal trouble. Use the tips above to help you keep track of your documents and ensure they are always up-to-date.

Tags
N/A
By Grit Daily Staff Grit Daily Staff has been verified by Muck Rack's editorial team

Journalist verified by Muck Rack verified

Grit Daily News is the premier startup news hub. It is the top news source on Millennial and Gen Z startups — from fashion, tech, influencers, entrepreneurship, and funding. Based in New York, our team is global and brings with it over 400 years of combined reporting experience.

Read more

More GD News