A document that
regulates a company's external activities and must be drawn up on the formation
of a registered or incorporated company. As the company's charter it (together
with the company's articles of association) forms the company's constitution.
The memorandum of
association gives the company's name, names of its members (shareholders) and
number of shares held by them, and location of its registered office. It also
states the company's (1) objectives, (2) amount of authorized share capital,
(3) whether liability of its members is limited by shares or by guaranty, and
(4) what type of contracts the company is allowed to enter into.
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