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Smart Way #6: Make sure you hold and document special meetings of both shareholders and directors when you need to address important matters.
These include opening any kind of banking account or getting a company credit card, when the company enters into a new lease, enters into a funding or lease commitment, enters into key contracts, changes an officer's salary, fills a vacancy on the board, enters into an important new venture, considers selling business assets or acquiring new debt, and hundreds of other actions that should be documented. It is widely believed that the more documentation you have the thicker your shield protecting your personal assets. The rule of thumb here is... You can never have too much documentation.
