A business resolution is a formal statement that expresses the will or decision of a company. It is typically used to document important decisions made by the board of directors or shareholders. Business resolutions can be used for a variety of purposes, such as:
- Authorizing a new business venture
- Declaring a dividend
- Amending the company’s bylaws
- Dissolving the company
Business resolutions are important because they provide a written record of the company’s decisions. They can also be used to protect the company from legal liability. For example, if a company is sued for breach of contract, the business resolution authorizing the contract can be used as evidence to defend the company.