Corporate housekeeping

In practice

Corporate housekeeping describes the routine tasks that are necessary or advisable for running a company. Passing resolutions in writing, filing an updated list of shareholders after every change, reporting the beneficial owner, making sure that agreements with managing directors and shareholders are actually signed and that the annual financial statements are filed on time. Much of this is small stuff. But formal defects can leave resolutions open to challenge or make agreements invalid, and with oral arrangements it is one person’s word against another’s.