- the Memorandum of Association (in some countries referred to as the Articles of Incorporation) is the primary document, and will generally regulate the company's activities with the outside world, such as the company's objects and powers.
- the Articles of Association (in some countries referred to as the by-laws) is the secondary document, and will generally regulate the company's internal affairs and management, such as procedures for board meetings, dividend entitlements etc.
In many countries, only the primary document is filed, and the secondary document remains private. In other countries, both documents are filed.
In civil law jurisdictions, the company's constitution is normally consolidated into a single document, often called the charter.(Wikipedia).
When a company has become incorporated, the corporation’s board of directors will adopt a set of corporate bylaws that act as detailed rules for the company.
Corporate bylaws are an important part of corporate governance because they detail how the company will be run. Bylaws will include rules about the management structure, meeting requirements, stock issuance, and other important company policies.(ContractsCounsel).