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Limited Liability Company Incorporation

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TERM SHEET

THIS TERM SHEET ("TERM SHEET") set forth the basic of the Agreement between ("EC") on the one hand, and ("ICI") on the other hand and is dated for reference purposes.

- - INITIATIVES. The relationship will initially be comprised of one initiative to be performed by EC for or in conjunction with ICI and will be embodied by such agreements as appropriate. The Initiatives will include the following:

- ICI/EC WILL JOINT VENTURE A FULFILLMENT AND DISTRIBUTION CENTER. EC will provide warehousing and staffing through its associates for the purposes of storing the product for the ICI/EC customers. This space will be charged to the customers for a flat rate, to the ICI/EC customer if the minimum number of shipment doesn't occur. EC/ICI will jointly set the pricing for the shipments that will be sent to ICI/EC customers.

- PRICING AND REVENUE. EC will base price the shipment using the weight and dimension of each item. This base price will cover EC shipping and package and labor cost. All revenues that are received above this base price will be split between ICI/EC.

- ICI will provide EC with shares of stock in the name of the owners divided to be broken down as follows: will be free trading shares and the other shares will be shares with a restriction. All shares will be issued within of this agreement. This stock will cover the cost if any for ICI privately label stores that use the ICI/EC center, and is a one-time payment. Additionally, ICI will pay EC the Base-shipping on each item that is shipped through ICI privately label Malls from the center. If ICI is not fully SEC reporting by , ICI will issue EC another shares by

While the parties may replace this Term Sheet with a more formal set of documents, this Term Sheet is nonetheless a binding agreement between the parties when signed by both of the parties in the space provided below. This Term Sheet will govern the relationship between the parties until. If a more formal agreement is signed, ICI can put out releases and marketing material; all releases and material must be approved by EC before they are sent to the public. ICI may use the address of the center in all print material with the approval of EC before it is printed.

ACCEPTED AND AGREED:

IChargeit.com, Inc.

By:

Title:

Date:

E.C. Net Manufacturing LCC

By:

Title:

Date:

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What the Limited Liability Company Incorporation document is

A Limited Liability Company Incorporation packet is the set of formation documents filed with a state to create an LLC, typically including Articles of Organization (or Certificate of Formation), an initial operating agreement or template, and any required state filing cover forms. It establishes the LLC's legal existence, identifies the organizer(s) and registered agent, and specifies basic corporate data such as the company name, principal address, and nature of the business. Properly completed incorporation documents create limited liability benefits under state law and trigger registration, tax, and recordkeeping obligations for the new entity.

Why a complete, compliant incorporation package matters

Filing accurate incorporation paperwork creates the LLC’s legal existence, protects members’ limited liability, and starts statutory deadlines such as annual reports and tax filings. Incomplete or incorrect filings can delay formation and expose organizers to administrative penalties or unintended personal liability.

Why a complete, compliant incorporation package matters

Who prepares and relies on LLC incorporation documents

After filing, the signed and filed documents become the authoritative record for the LLC; keeping accurate originals and copies supports banking, tax compliance, and potential investor or lender reviews.

  • Founders and small-business owners assembling formation information and initial operating rules for their company.
  • Registered agent services preparing and filing state articles on behalf of clients.
  • Corporate or outside counsel reviewing formation documents, governance language, and state-specific requirements.

Primary signatories and document owners

Founder

Founder / Organizer. The person who completes and signs formation paperwork, makes organizer declarations, and often serves as the initial manager; responsible for accuracy and for appointing the registered agent.

Registered Agent

Registered agent or authorized company representative who accepts service for the LLC; their acceptance or consent is required in many states and must include a physical address.

Essential data fields required in formation documents

Entity Name: Exact legal name
Registered Agent: Name and physical address
Principal Office: Street address and ZIP
Organizer(s): Names of forming parties
Business Purpose: Short purpose phrase
Tax ID: EIN or TIN info

Step-by-step: filling out LLC incorporation paperwork

Follow these primary steps to complete Articles of Organization and related incorporation forms accurately before filing with the state.

  • 01
    Choose name: Verify availability and format per state rules.
  • 02
    Designate agent: Enter registered agent name and physical address.
  • 03
    List organizers: Provide organizer names and contact details.
  • 04
    Sign and date: Sign with authority and add formation effective date.

How to configure a digital workflow for incorporation

Set up roles, authentication, and delivery to mirror the paper process while preserving an audit trail.

Field Configuration
Document Template Use standard Articles of Organization and operating agreement templates
Signer Roles Assign Organizer, Registered Agent, and Witness roles
Authentication Choose email link, SMS code, or KBA as needed
Retention Capture signed PDF + audit trail for records

Where incorporation paperwork goes after completion

Understand the common routing so that filed documents reach the correct state office and internal stakeholders.

  • State Filing: Submit Articles to the Secretary of State or filing office.
  • Registered Agent: Send acceptance to registered agent and retain copy.
  • Tax Registration: Apply for EIN with IRS after formation.
  • Corporate Records: Store executed documents in company minute book.

Digital signing and platform prerequisites

Ensure the chosen provider offers audit trails, secure encryption, and retention options aligned with legal requirements and your internal policy.

  • File formats: PDF and DOCX accepted; maintain original format
  • Authentication options: Email link, SMS code, or stronger methods
  • Integrations: Salesforce, NetSuite, Google Workspace supported

Key components to include in a professional incorporation packet

A professional incorporation packet contains the statutory filing form plus governance and administration documents that establish the LLC’s internal rules and public record.

Articles of Organization

The state filing document that creates the LLC; includes name, registered agent, and organizer details and is filed with the Secretary of State or equivalent office.

Operating Agreement

Defines member rights, capital contributions, profit allocation, voting, management, and dissolution procedures; not always filed but essential for internal governance and third-party reliance.

Registered Agent Consent

Document or form showing the agent’s agreement to accept service at the listed address; required by many states to ensure serviceability.

Initial Resolutions

Organizer or manager resolutions authorizing bank accounts, tax filings, and appointing officers or managers; helps establish organizational authority.

EIN Application

IRS Employer Identification Number application (Form SS-4) or confirmation used for banking, payroll, and tax reporting.

Membership Ledger

Record of members, ownership percentages, and contribution history to support capitalization and future transfers.

Download and format options for incorporation documents

Provide the formation packet in standard formats so legal, tax, and banking partners can use and archive documents without conversion errors.

PDF (Final Copy)

Signed, tamper-evident PDF with embedded audit trail and visible signatures for official recordkeeping and third-party review.

DOCX (Editable)

Editable Word document for counsel or internal edits prior to finalization; keep version control and record changes.

HTML (Web Filing)

Web-friendly export for portals or state e-filing that accept HTML or require structured data submission.

CSV / Excel

Tabular export of organizer and member data for bulk uploads to payroll, accounting, or registration systems.

Typical timelines and processing expectations

Timing varies by state, filing method, and whether expedited service is used; plan for state and federal administrative steps.

State Processing:

Standard: 1–4 weeks; expedited options may be available

Registered Agent Acceptance:

Obtain acceptance before or at filing to avoid rejection

EIN Issuance:

IRS issues EIN immediately online after formation

Annual Reports:

Due per state schedule; timing varies by state

Tax Classification Deadline:

S-election and other classifications follow IRS timing rules

Common mistakes to avoid when preparing formation paperwork

  • Using a name that fails state availability or required suffix rules leading to rejection and delays.
  • Providing a P.O. box for registered agent address when a physical street address is required.
  • Omitting organizer signatures or using initials instead of full legal names, which can void acceptance.
  • Missing state-specific tasks such as publication notices or franchise tax registrations that trigger penalties.

Penalties and legal risks from incorrect formation

1099 Penalties: Failures can incur IRC §6721 penalties
Backup Withholding: 24% withholding for missing TIN
I-9 Paperwork: Federal fines of $281–$2,789 per violation
State Dissolution: Failure to file fees may lead to administrative dissolution
Publication Penalties: State-level fines where publication is required
Intentional Disregard: Higher per-form penalties with no cap

Practical tips for quick, accurate formation

These practices reduce rework, speed approval, and preserve limited liability protections.

Confirm name rules
Check state naming rules and perform a final availability search before drafting to avoid rejections and reserve the desired name where possible.
Use correct agent address
Enter a physical registered agent address, confirm acceptance in writing, and maintain an up-to-date agent to ensure serviceability.
Standardize signatures
Collect full printed names and dated signatures from organizers; when using e-signatures, capture intent and attribution consistent with ESIGN and UETA.
Retain executed originals
Keep signed PDFs and a paper or digital minute book for banking, investor, and legal due diligence; include audit trails and certificates of completion.

Real-world examples of digital formation workflows

These customer examples illustrate how organizations completed formation and signature workflows electronically.

Optica Ventures — COO Brian Fitzgibbons

Optica used an electronic signing workflow to collect organizer signatures quickly and securely

  • The interface was simple for internal and external parties
  • As a result, the team reported faster document turnaround and easier customer interactions while maintaining compliance.

Martin Properties — Founder Tim Martin

A real estate founder processed formation and related closing documents entirely online

  • Mobile and offline signing supported execution on-site
  • The workflow allowed the company to execute necessary forms remotely while preserving security and traceability for records.

eSignature vendor comparison for incorporation workflows

Compare base pricing and practical features that matter for formation and ongoing LLC document workflows; signNow is listed first for reference.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No
Envelope Cap No cap 100 envelopes/user/year Varies by plan Varies by plan Varies by plan

Frequently asked questions about forming an LLC and e-signing

Answers address common legal, procedural, and technical issues encountered during LLC incorporation and electronic signing.


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