Glossary & Knowledge Base

Resources

Understand business entity search terms, LLC formation rules, and public records terminology.

  • 14 glossary terms
  • 5 in-depth references
  • Official sources linked

A

Annual Report (Business Compliance)

An Annual Report is a mandatory filing required by most state governments to keep your LLC or corporation's contact and ownership information up to date.

Articles of Organization

Articles of Organization is the official legal document filed with the state to create and register a new Limited Liability Company (LLC).

C

Certificate of Formation

A Certificate of Formation is the official legal document filed with a state government to create and register a Limited Liability Company (LLC).

Corporation

A Corporation is a legal business entity completely separate from its owners, offering the highest level of personal liability protection and the ability to issue stock.

D

Dissolved Entity

A dissolved entity has entered a state-law closing process. It usually continues for limited winding-up purposes, and dissolution does not automatically make its owners personally liable.

Domestic Entity

A Domestic Entity is a business (such as an LLC or corporation) operating in the same state where it was originally formed and registered.

E

Entity ID

An Entity ID is a number a state business registry uses to identify one business record. The official label and meaning vary by state.

F

Foreign Entity

A Foreign Entity is a business (like an LLC or corporation) that is registered to legally operate in a state other than the one where it was originally formed.

G

Good Standing

Good standing generally means a state business filing office's records show that an entity has met the filings and fees that office uses to determine status. The exact meaning varies by state.

L

LLC (Limited Liability Company)

A Limited Liability Company (LLC) is a U.S. business structure that combines the pass-through taxation of a sole proprietorship or partnership with the limited liability of a corporation.

N

Nonprofit Corporation

A Nonprofit Corporation is a legal entity formed to pursue a public or mutual benefit mission rather than to distribute profits to owners or shareholders.

O

Operating Agreement

An Operating Agreement is an internal legal document that outlines the ownership structure, financial rules, and operating procedures of an LLC.

R

Registered Agent

A Registered Agent is a designated individual or third-party service authorized to receive official government correspondence, tax notices, and legal documents on behalf of a business.

S

SOS ID

An SOS ID is a state registry number used to identify a business record. The exact name and meaning of that number depend on the state.