Principal Documents of a Company: Memorandum and Articles

Abstract

There are certain steps involved in the formation of a company. In the present paper the prominent steps in the formation, documents and certain important doctrines of company law in general would be discussed. The first step is to prepare the Memorandum of Association. The Memorandum of Association is the document which lays down the foundation of a company. It is the constitution of the company and provides the edifice on which its structure is built. It is the principal document of the company and no company can be registered without the memorandum of association. It defines the scope of the company’s activities as well as its relation with the outside world. Next important document in the incorporation of a company is ‘the articles of association’. A company is an incorporated body. So there should be some rules and regulations to be formed for the management of its internal affairs and conduct of its business as well as the relation between the members and the company. Moreover, the rights and duties of its members and the company are to be recorded. There comes the need and origin of Articles of Association.

Keywords: Memorandum of Association, Articles of Association, Company, Shareholders, Principal Document, Internal Affairs, Rights, Duties, Members