What is Entity Management?

Entity Management refers to the system of managing legal entities like corporations, partnerships, trusts and other forms of legal entities. Legal entities have responsibilities and obligations to their owners, governments and other stakeholders. The process of ensuring legal entities are living up to those various responsibilities and obligations is known as entity management.

Some corporations manage their corporate governance responsibilities all on their own, whereas other companies leave that responsibility with their law firms.

Corporate governance responsibilities may include some of the following tasks:

• Tracking compliance dates and reminders
• Filing annual returns with the government
• Logging shareholders, directors and officers
• Drafting documents like by-laws and resolutions for corporate changes
• Creating ownership charts
• Updating capitalization tables

Many entity management tasks can be done manually if you are only managing one or two entities, but these can become a burden once you are managing dozens, hundreds or even thousands of corporate legal entities.

If you are managing a large amount of legal entities then you will want to use legal entity management software. The most secure and modern entity management software make use of an entity management cloud, which makes all your entities securely available anywhere in the world through a web browser.