Your best bet is to hire a lawyer. I know this may be a somewhat inconvenient answer to your question, but corporate bylaws are an important component of your company and will determine a number of characteristics of your corporate structure.
Depending on the design/composition of your corporation, your bylaws will have to be specifically tailored. Many people rely on sample corporate bylaws found on google, but they frequently run into issues later on down the road when the corporate procedures are challenged. It is extremely important to do everything you can to avoid these situations from the onset.
Finding the best lawyer is a difficult process. However, you want to find someone who has experience and expertise in assisting corporations draft bylaws at the lowest cost.
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Despite the fact that you should consult a lawyer, you should definitely familiarize yourself with a sample of the bylaws so you know what to look for. Here is a link to take a look at;. If you take a look at the template, you see a number of different sections that you will want to think about before sitting down to finally draft the document.
Here are a few things to consider before you go for it:
1. Number of Officers/Directors: You should be fully aware by this point of who will be serving on your board and possess voting power in your company. But you want to make sure that you have each persons identity and designation in mind before drafting your bylaws.
2. Authority of Officers: Corporate bylaws will set the terms and conditions of your corporate structure, and it is essential that each controlling party’s interest is adequately outlined and explained in your bylaws. Many companies experience disputes over this component, and well-drafted bylaws can help you avoid this problem.
3. Voting Power/Procedure: Your company’s success will depend on how you move forward, and inevitably this will involve decisions made by your board. You need to have foresight and identify clearly each parties’ role for voting procedures to avoid future litigation and mitigate disputes.
I hope this answer is helpful. Drafting your corporate bylaws is an important step in your company’s future and I wish you all the luck. Please don’t hesitate to reach out if I can personally help you!