Corporate Bylaws

What are corporate bylaws?

Corporate bylaws are the governing rules by which a company operates in compliance with local legislation. When a company is founded, the bylaws are the first thing the executive board creates. Not to be confused with the articles of incorporation - these have to be filed when registering a company and before it is established.

After being prepared by one of the executives or a committee on the executive board, the bylaws of the company have to be approved by the board. Additionally, they have to be accessible for local state and tax authorities in case they want to audit the company.