A corporate bylaw can be used by newly formed corporations to outline the general corporate structure and ensure that important aspects of the relationship between the participating parties is outlined, in writing, at the onset of the corporate relationship. While it is not mandatory that corporations in operation within the state of Illinois adopt a corporate bylaw, it is highly recommend as it often serves as a tool that mitigates issues before they are able to arise. If completed properly, a corporate bylaw allows for a clear understanding of the scheduled meetings between board members, the roles and responsibilities of all incorporating parties and the basic corporate structure. You can find a free corporate bylaw template in MS Word and PDF by simply scrolling down this page. Ensure that a lawyer reviews the bylaw before it is adopted and that upon adoption, a hard-copy is given to all incorporators.