Professional Corporation Articles Of Incorporation Template for India

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Professional Corporation Articles Of Incorporation

"I need Professional Corporation Articles of Incorporation for a multi-disciplinary medical practice in Mumbai, planning to start operations in March 2025, with provisions for five medical professionals as shareholders and the ability to add branch offices across Maharashtra."

Document background
Professional Corporation Articles of Incorporation are essential founding documents required when establishing a professional services corporation in India. These articles serve as the constitution of the professional corporation, outlining its fundamental structure, governance mechanisms, and operational parameters. They must comply with the Companies Act, 2013, while incorporating specific requirements from relevant professional regulatory bodies. The document is used when licensed professionals wish to incorporate their practice as a formal corporate entity, providing a framework for professional service delivery while maintaining professional standards and ethics. It includes crucial information about share ownership restrictions, professional qualifications requirements, management structure, and practice limitations specific to professional corporations. This document is particularly important in India's regulatory environment, where professional service corporations must balance corporate governance requirements with professional practice regulations.
Suggested Sections

1. Name and Address: States the proposed name of the professional corporation and its registered office address

2. Purpose and Objects: Defines the specific professional services the corporation will provide and its main objectives

3. Share Capital: Details of authorized share capital, types of shares, and share structure

4. Professional Requirements: Qualifications and licensing requirements for shareholders and directors

5. Membership: Rules regarding who can be shareholders, including professional qualification requirements

6. Board of Directors: Composition of the board, qualification requirements, and appointment procedures

7. Management: Management structure and decision-making processes

8. Meetings: Procedures for board and shareholder meetings

9. Professional Practice: Rules governing professional practice, ethics, and standards

10. Share Transfer Restrictions: Limitations on share transfers to maintain professional ownership requirements

11. Dissolution: Procedures for winding up the corporation

Optional Sections

1. Foreign Practice: Include when the corporation plans to operate internationally

2. Multi-disciplinary Practice: Include when the corporation will offer services across multiple professional disciplines

3. Branch Offices: Include when the corporation plans to operate multiple offices

4. Professional Insurance: Include specific insurance requirements if not covered by general professional regulations

5. Intellectual Property: Include when the corporation needs specific provisions for managing professional intellectual property

6. Retirement and Succession: Include detailed provisions for professional succession planning

7. Alternative Dispute Resolution: Include when specific professional dispute resolution mechanisms are desired

Suggested Schedules

1. Schedule A - Initial Shareholders: List of founding shareholders with their professional qualifications

2. Schedule B - Professional Services: Detailed description of professional services offered

3. Schedule C - Share Capital Structure: Detailed breakdown of share classes and rights

4. Schedule D - Initial Directors: List of initial directors with their professional qualifications

5. Schedule E - Professional Code of Conduct: Specific ethical guidelines and professional standards

6. Appendix 1 - Professional Licenses: Copies of relevant professional licenses and certifications

7. Appendix 2 - Regulatory Compliance: Documentation of compliance with professional regulatory requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Legal Services

Medical Services

Accounting and Audit

Architecture

Engineering Consultancy

Management Consulting

Dental Services

Veterinary Services

Financial Advisory

Psychology and Counseling

Relevant Teams

Legal

Compliance

Corporate Governance

Professional Services

Corporate Secretarial

Regulatory Affairs

Board of Directors

Executive Leadership

Professional Practice

Relevant Roles

Managing Director

Professional Director

Company Secretary

Compliance Officer

Legal Counsel

Professional Practitioner

Chief Executive Officer

Board Member

Corporate Governance Officer

Professional Services Manager

Regulatory Affairs Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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