Your company should have a board of directors right from the beginning to get it off to a good start. Decisions made by the board are called resolutions, and these should be documented, approved, and filed in case of an audit. Some preliminary board resolutions include: Appointing an attorney (an outside law firm) Deciding on a name for the business Designating a bank and opening business bank accounts Electing board officers and top executives One major task of a new board of directors is to create and implement bylaws to guide board decision-making and policies to guide the work of the board, like conflict of interest and financial policies.