Corporate bylaws, which may also be called company bylaws or simply bylaws, set forth the key rules and regulations that govern the company’s operations. For example, they’ll likely include identifying information about a company, a statement of purpose, information about the board of directors, officer and shareholder information, legal protection against potential threats, instructions for handling conflicts of interest, and information on how to amend the bylaws. And that’s important, because as companies grow and change, so should their bylaws!
Bylaws are required in some, but not all states, and they don’t need to be posted for the public. That being said, a company’s bylaws may be requested by investors, lenders, attorneys, and banks, so it’s important to have these legal documents in order, even if your company does not reside in a state where bylaws are required. For more information on what corporate bylaws are and what they include, see the graphic below.
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