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Good Standing

What is Good Standing?

A corporate enterprise is in good faith if it meets any of the legal criteria for paying fines and filing papers in the U.S. state where it was created. The state grants a certificate of good standing to the company to document its compliance. This certificate verifies that the company is duly licensed in that state and is permitted to do business there. A certificate of good standing is also known as a certificate of status or a certificate of life in some jurisdictions.