Glossary · People and paperwork
In short
A formal document recording a specific decision or action approved by a corporation's board of directors or shareholders. It grants authority for major business decisions.
When acquiring a business structured as a corporation, you'll see seller corporate resolutions authorizing the sale of assets or stock. As the buyer, if you're forming a new corporation, your board will pass resolutions to authorize the loan and acquisition. This is standard legal paperwork for corporate entities.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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