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It is that time of year again when the Delaware Division of Corporations and Delaware Secretary of State Jeffrey Bullock report and summarize the highs and lows of the previous year.
Some of the major highlights from the 2013 Delaware Division of Corporations annual report:
- 83% of all new U.S. initial public offerings (IPOs) were in incorporated in Delaware.
- The percentage of the Fortune 500 companies incorporated in Delaware rose to 65%
- Delaware introduced legislation to allow for the formation of the public benefit corporation
- New LLC formations increased 5.7%
- New corporation formations increased 5.6%
- New Delaware limited partnership (LP) formations grew only 1.5%
- Overall new entity formations including trusts, LLCs, LPs, LLPs, and corporations increased 5%
- Active business entities incorporated in Delaware finally surpassed the 1,000,000 mark. They're now at 1,052,000
- 24% of all of the state of Delaware's income was generated by the Division of Corporations. A total of $776,700,000 was generated in the 2013 calendar year.
The state of Delaware continues to set the bar high as the premier state in which to create new corporate entities. By incorporating in Delaware, your business will benefit from the established Delaware entity legal structure as well as the renowned Delaware Court of Chancery. That, coupled with Harvard Business Services, Inc. as your Delaware Registered Agent, ensures that you’re starting your business off on the right foot! Feel free to contact us with any questions about all aspects of Delaware entities. We're here to help you.
View the entire report online.
THE AUTHOR OF THIS BLOG ARTICLE IS NOT A LAWYER AND HARVARD BUSINESS SERVICES, INC. IS NOT A LAW FIRM. THE ARTICLE ABOVE IS NOT INTENDED AS LEGAL ADVICE AND SHOULD NOT BE TAKEN AS LEGAL ADVICE. THIS SHORT ARTICLE IS STRICTLY TO MENTION SOME ASPECTS OF DELAWARE’S CORPORATION LAWS AND/OR LAWS RELATING TO OTHER FORMS OF ENTITIES WHICH YOU MAY NOT BE FAMILIAR WITH. WE RECOMMEND THAT YOU CONSULT WITH A LAWYER BEFORE FORMULATING A STRATEGY WHICH WILL BE SUITABLE FOR YOUR SPECIFIC CASE.