Incorporation of Apple Computer, Inc.

On 03/01/1977, Apple Computer, Inc. was formally incorporated in Cupertino, California, transitioning from the partnership originally formed on 01/04/1976 into a structured corporation. The incorporation created a legal and financial framework for expansion as Apple prepared to scale production of its personal computers. The incorporation documents listed Steve Jobs, Steve Wozniak, and investor Mike Markkula, while Ronald Wayne, who had previously held a 10 percent stake, was no longer involved after selling his share back to the founders in 1976 for $800. Mike Markkula played a central role in the incorporation by providing financial backing and business planning. He invested approximately $92,000 of his own funds and helped secure a $250,000 line of credit from Bank of America. The newly formed corporation also purchased the assets of the original Apple partnership for $5,308.96, formally transferring ownership of existing inventory, equipment, and intellectual property to Apple Computer, Inc. The new corporate structure allowed Apple to expand manufacturing and prepare for broader market entry. Shortly after incorporation, Apple recruited Michael Scott as its first chief executive officer in February 1977. Markkula believed professional management was needed as the company grew beyond its startup phase. The incorporation and leadership changes occurred months before Apple introduced the Apple II in April 1977, which became the company’s first mass market product and a foundation for early growth.