Who is primarily responsible for initiating the formation of a corporation?

The promoter is primarily responsible for initiating the formation of a corporation. This individual or group typically takes on the role of bringing together the necessary elements to create a new corporation, which includes tasks such as drafting the articles of incorporation, filing them with the appropriate state authority, and sometimes even securing initial stock subscriptions. The promoter essentially lays the groundwork for the corporation’s formation and serves as the driving force that organizes and prepares the business for operation.

In contrast, stockholders are the owners of the corporation but do not actively participate in the formation process. Administrators may manage the corporation once it is established but do not initiate its formation. Directors, who are elected to oversee the corporation's management, come into play after the corporation has already been formed and are not involved in the initial creation of the corporation itself. Thus, the promoter is uniquely essential to the very beginning of the corporate structure.