Publication of a legal announcement is a form of classified advertising usually mandated by a state or local law. Legal announcements are published in approved newspapers that serve to inform the public in a specified area.
Publication of Legal Announcement
Publication of a legal announcement (or legal advertising) is a form of classified advertising usually mandated by a state or local law. Legal announcements are published in approved newspapers or journals that serve to inform the public in a specified area.
The approved newspapers or journals are selected based on the location of the business that is required to place such announcement. After the legal announcement is published, the newspaper or journal would then create an Affidavit of Publication.
What is an Affidavit of Publication?
An Affidavit of Publication is a sworn, written statement made in the presence of a notary public or a person who is authorized to administer an oath, attesting that the publication took place on specified days. Affidavits of Publication are used submitted to the state or local authorities as proof that the entity has met the publication requirements.
When is Publication Required?
Certain states require a new entity (e.g. corporation, LLC, or sole proprietorship) to publish anywhere from one to three announcements in an approved newspaper or journal in order to inform the interested public of the formation of the entity.
In addition to brand new companies, some states require companies from other states that wish to get authorization to do business in that state (i.e. form a foreign entity) to also publish an announcement. Finally, some states and counties require publication of a company's assumed name (also known as d.b.a.).
States That Require Publication
If you form your corporation, LLC, foreign entity, or assumed name (d.b.a.) with the help of MyUSAcorporation.com, we will automatically inform you if a publication is required, and our representatives will ensure that your announcement is published in accordance with all legal requirements. If you are forming your entity on your own, carefully review all the forms and instructions provided by the state or county to learn of the publication requirements. For reference, below are lists of some states that require publication:
Corporations:
LLCs:
Assumed Names (d.b.a.) and Sole Proprietorships:
Failing to Make Publication
If you fail to make a timely publication, your business will be suspended. Beware, even if a state or county does not require you to file an Affidavit of Publication, you should still obtain one and keep it for your records. Failure to offer proof of publication may result in retroactive suspension of your business entity and may have severe liability consequences for you personally.
What Is Limited Liability and Why It Is Important?
Limited liability is a way to make sure that a person who is engaging in business does not risk his or her personal possessions in case the business fails. In other words - you risk what you put in.
What Is Corporate Veil And How It Can Be Pierced
If you are a business owner, one of the most significant reasons to incorporate or form a limited liability company is to protect your personal assets from a business creditor's claims against your company. This ability of a properly-formed maintained company to shield its owners from personal liability is sometimes referred to as the "corporate veil."
Closing a Chapter: Dissolution of Your Legal Entity.
Various reasons could lead to the business dissolution, such as bankruptcy, retirement, or change in career direction. When an entity is no longer doing business, it is very important to follows the legal steps in "winding itself up" as a legal entity.
