NCET Biz Café: Corporate Housekeeping 101

The lack of good corporate housekeeping procedures can yield a plethora of adverse consequences. These can range from legal repercussions, such as non-compliance with corporate governance regulations, to operational inefficiencies, such as mismanagement of documents, improper tracking of decisions, or miscommunication within the organization. The absence of appropriate corporate housekeeping procedures hampers the ability of a business to meet regulatory requirements, maintain a functional corporate structure, and ensure transparency in its operations and dealings with stakeholders. This could ultimately lead to erosion of confidence among shareholders, potential litigation, and reputational damage.

Conversely, implementing good corporate housekeeping procedures offers several benefits. These include enhanced operational efficiency, compliance with legal and regulatory requirements, and improved transparency in corporate dealings. Effective corporate housekeeping ensures orderly maintenance and management of corporate records, making it easier to track past decisions and actions. This not only aids in efficient decision-making but also contributes to transparency, which builds trust among shareholders, creditors, and other stakeholders. Regularly reviewing and updating corporate records and documentation can also help identify and address potential issues in a timely manner, thereby reducing legal risks. In essence, good corporate housekeeping procedures enable a business to function smoothly, maintain its credibility, and uphold its reputational standing.

During the November Biz Café, Michael and Matt will cover:

• The importance of creating good habits regarding corporate hygiene.
• The basics of recordkeeping and maintaining an accurate capitalization table.
• Management's responsibilities regarding fiduciary duties.
• The consequences of lacking good corporate hygiene.
• Tools and resources available, e.g., Registered Agents.
  

What to Expect

• Corporate Housekeeping 101
  Michael Crisostomo & Matt Shell | Associates, Holland & Hart LLP
  November 20, 2024
  Speakers: 3 – 4 p.m. | Networking: 2 – 3 p.m.
  UNR Innevation Center

For more information and how to register, click HERE.