Drafting the founding law and articles of association of the company

To create any form of company, it is necessary to meticulously approach the preparation and formulation of acts on the basis of which the company was formed and the start of business.

احسن محامي في جدة 

The first step is the act of incorporation. In the case of the Limited Liability Company (LLC), if it is incorporated by a single person, this constitutive act is called the Resolution of Incorporation. When several persons establish an LLC, the Memorandum of Association is concluded.

The Memorandum of Association contains, inter alia, the following information:

The name, surname and address of the founder of the company, the amount of the initial capital (the legal minimum amount is 1,000 KM), information about the manager, the name of the company, the headquarters and the activities in which the company will be involved, the rights and obligations of the members of the company, etc.

In addition to the Articles of Incorporation, the company must also have a Memorandum of Association. It is an act based on the incorporation law which, after the incorporation of the company, becomes the basic act in the company's work.

A commercial lawyer in Riyadh specialized in preparing all types of commercial agreements

مكتب محاماة جدة 

> A commercial lawyer in Riyadh compiles and advises when concluding all kinds of commercial agreements.

Commercial contracts are those contracts concluded by merchants among themselves in the performance of activities that are the subject of work of at least one of them or related to the performance of those activities.

These are bilateral legal transactions created by expressing the will of both parties, or creating an obligation for only one party (unilateral binding agreements) or for both parties (bilateral binding agreements).

The Law of Obligations regulates commercial contracts. Some typical business contracts are a contract for the purchase of goods for resale, assignment contract between two or three companies, contract with an exclusive agent or distributor, assignment agreement, credit agreement, shipment agreement, commercial representation agreement, etc.