Many states demand business owners to maintain corporate meeting minutes. As a business owner, do not take this task lightly. You and your business can benefit from keeping a corporate minutes form. Furthermore, if you plan to buy a business, get the most benefits by learning how to properly record meeting minutes. It can protect you and your corporation during any lawsuits. By documenting meeting minutes regularly, you keep proof of any meeting disputes and/or concerns that could be used in court. Thus, you should ensure your secretary can effectively take notes when you meet with directors and shareholders. Continue reading to learn how to build a corporate minutes form for meetings.
Determine A Document Format
To begin building a corporate minutes form for meetings with directors and shareholders, determine the most effective document format. Consider creating an outline based on agenda. Keep your smart goals in mind when planning so you can focus on your business objectives. After deciding how the meeting will be structured, base your corporate minutes form on it. Then, your secretary can easily take notes on the meeting. If they do not have to skip around the form throughout, they are more likely to record all crucial information. Furthermore, an agenda-based format provides more clarity for later use. Decide on a document format that enhances your secretary’s notes to build the best corporate minutes form for meetings.
Document Basic Information
Once you have created an outline based on agenda for your corporate minutes form, add a section for basic information. Include a spot for the date of the meeting. Without the correct date on the form, it will not be helpful during a lawsuit or other business matters. Incorporate both time and location as well. While you may not think that the time matters when you already have the date written, reconsider. Since a corporate minutes form is meant to provide businesses with a way to record specific meeting information, states expect your basic information to be specific as well. Include all necessary basic information in your meeting minutes form.
Another necessary section in a corporate minutes form is attendance. In this section, allot spaces for both attendees and absentees. Demand your secretary to also take note of those who arrived at the meeting late or left early. Such information contributes to understanding how the meeting was executed. If multiple shareholders leave the meeting abruptly, it most likely did not go well. When some directors arrive casually late, you have insight into how important the meeting (and your company) is to them. Use this insight to improve your emotional intelligence. Your secretary must record attendance accurately at each meeting.
Since many meetings end by taking a vote, a section designated to the voting process and outcome is required. Some corporations assume that reporting the number of votes is enough. On the contrary, the name of each voter and the process by which they voted is also necessary. For instance, if shareholders vote for their choice of director, your secretary should write down who voted for who and if their votes were private or not. If a dispute regarding the vote arises at a later meeting, you can use your notes to settle it by ensuring the voting process was fair. Understand the importance of reporting votes in a corporate minutes form.
Finally, set aside a certain amount of time at the end of each meeting for amendments. As previously stated, minutes are powerful documents that can be used under official, controversial circumstances. To remain fair throughout the process of documenting your meeting minutes, offer participants the opportunity to request an amendment to your form. Do so at the end of each meeting when thoughts and experiences are fresh in directors’ and shareholders’ minds. More so, ask for amendments before making the form official by getting it approved. Consider allotting time for amending when building your corporate minutes form.
Whether your state requires your corporation to record meeting minutes or not, keeping a corporate minutes form can provide security for your business. To begin building a corporate minutes form, determine a document format based on meeting agenda. Set aside a section for your secretary to document basic information such as time, date, and location. Have your secretary record who attended the meeting, who was absent, who arrived late, and who left early. Report any votes and the process in which shareholders and/or directors voted. Also, consider allotting time for amendments at the end of each meeting and include them in your corporate minutes form. Now, you know how to build a corporate minutes form for meetings.