Features

MinuteCreator™ Features

Taking and maintaining corporate minutes is far more than a ministerial function. Once adopted, corporate minutes have a special legal status. They provide an irrefutable record of the steps taken in the corporate decision-making process; including what the corporation’s owners and directors considered, and what corporate actions were approved, adopted, and rejected.

All stock corporations and limited liability companies regardless of size or function are required by applicable state law to prepare and maintain good corporate minutes. Unfortunately, many companies fail in this requirement. Companies without good, up-to-date corporate minutes are less valuable as (a) they fail to protect corporate representatives, officers, shareholders, directors, managers and members; and (b) prospective buyers will discount the company’s value as a history of prior corporate acts doesn’t exist.

Corporate minutes are an invaluable tool for litigators. Minutes are proof of corporate compliance with applicable laws and regulations. Minutes can help extinguish claims for alter ego liability, piercing the corporate veil, and demonstrate compliance with fiduciary obligations and the business judgment rule.

Conversely, if not done right, or not at all, the lack of good minutes will help make individual directors, managers, members and shareholders personally liable for actions taken by the company.

Every stock corporation, limited liability company and non-profit corporation, regardless of size, should create, record and maintain excellent corporate minutes as part of its routine records practices.

Features Comparison
Rocket Lawyer Legal Zoom MinuteCreator
Creates draft minutes of special and annual meetings of Board of Directors & Shareholders; Managers & Members Yes Yes Yes
Drafts Meeting Waivers No Yes Yes
Drafts Minutes by Unanimous Consent in proper legal form No No Yes
Drafts requests for notices by officers, directors, shareholders, managers, members, as needed No No Yes
Drafts Notices of Shareholders, Directors, Manager, and Member Meetings, as needed No No Yes
Online Questionnaire Yes Yes Yes
Recommends answers to questionnaire, based on prior answers No No Yes
Remembers your answers, allows for  as many user sessions as needed without having to re-enter information No No Yes
Remembers information previously entered so that you don’t need to re-enter information from meeting to meeting No No Yes
Individually addresses documents to each shareholder, director, manager, or member, as needed No No Yes
Allows for recording and reporting of votes taken, not just passed items No No Yes
Records and reports split votes (when a vote is not unanimous) No No Yes
Creates all required signature lines, as needed No No Yes
Documents are in correct legally form, using correct language No No Yes
Documents can be edited offline using MS Word No Yes Yes
Online help No Yes Yes – 24 hour call back
Live help No Yes Yes – 24 hour call back
Contains advertisements or Ties to sell you other services Yes Yes No