A Delaware LLC structure is more flexible than a corporation, as an LLC Operating Agreement may contain provisions and terms that would not be permissible in the context of a Delaware corporation.... Continue Reading
Posted In: Business Strategies
Because of system limitations, the IRS will not recognize some symbols and punctuation in your business entity name, including some that are allowed by the Delaware Division of Corporations. Find out which symbols and punctuation are permissible according to the IRS and the State of Delaware and understand your options when considering a company name that includes a special character, symbol or punctuation not recognized by the IRS.... Continue Reading
Posted In: Compliance
Change of ownership for an LLC can be complicated and requires costly amendments in most U.S. states. However, not in the state of Delaware. Unlike other states, Delaware requires very little information to be made public in order to form an LLC.... Continue Reading
Posted In: About LLCs
The most common reason to change an LLC to a corporation is that the company needs to be able to issue shares of stock in order to bring on investors or raise venture capital | Convert an LLC to a corporation.... Continue Reading
Posted In: Business Strategies
Many entrepreneurs and investors are seeking to do good while profiting using a Delaware LLC. An LLC wishing to elect public benefit status must include a Public Benefit Statement in its Certificate of Formation.... Continue Reading
Posted In: The Delaware Advantage
Find out when, where and how to file an annual report. Learn about the parts of an annual report and what your business will need to file on time each year.... Continue Reading
Posted In: Business Strategies
Directors often rely on experts in making decisions, to comply with their fiduciary duty of care in becoming adequately informed. This article discusses when a director may successfully claim reliance on experts in avoiding liability for a breach of his or her fiduciary duty of care.... Continue Reading
Posted In: Entrepreneurs & Start-Ups
A limited liability partnership is a general partnership that has elected to be treated as a limited liability partnership under Delaware law. An LLP is not set forth in a separate portion of the Delaware code; instead, the laws governing the features of an LLP are the same as those governing general partnerships.... Continue Reading
Posted In: Business Strategies
Clients attempting to file on their own have been met with confusion and frustration as their filings are rejected. Here are two of the reasons why they’ve been having trouble.... Continue Reading
Posted In: About LLCs
A Delaware LLC can be very flexible when it comes to preserving ownership in the family business you've worked so hard to create. In fact, an LLC has the potential to preserve ownership for future decades.... Continue Reading
Posted In: About LLCs
Read about the 2021 Delaware Annual Report and some of the most noteworthy statistics of the year. Contact Harvard Business Services, Inc. for more info.... Continue Reading
Posted In: The Delaware Advantage
Drafting corporate resolutions, recording meeting minutes and tracking stock available for issuance is sometimes seen as a distraction from the company’s primary focus of pursuing its business plan and achieving its goals.... Continue Reading
Posted In: About Corporations
Bylaws are rules set by a company to govern itself. Brett Melson discusses more about corporate bylaws, their function, and how they should be implemented.... Continue Reading
Posted In: About Corporations
In short, and as discussed here, Delaware’s General Corporation Law provides that shareholders are ultimately responsible for appointment and removal of Directors, with the mechanics and processes relating to the vote, removal, and replacement ordinarily set forth in the corporation’s bylaws.... Continue Reading
Posted In: About Corporations
When a company executes contracts or otherwise acts in a legal capacity under a different name, a DBA is appropriate. Alternatively, abbreviating Brett’s Diner LLC as “Brett’s” on flyers and in marketing materials should not typically raise an issue.... Continue Reading
Posted In: Entrepreneurs & Start-Ups