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The State of Delaware Division of Corporations has released the 2012 Annual Report, summarizing the year as a whole. The Division’s 2012 Annual Report reviews progress, developments, and marketing efforts which keep Delaware the premier state for incorporations.
Here are some of the highlights:
-The State of Delaware is now home to 64% of the Fortune 500 companies, up 1% from 2011.
-Overall new entity formations grew 8.9 % in 2012 compared to 13% in 2011.
-New LLC formations grew 10.8%
-New Corporations grew 2.9%
-New Limited Partnerships grew 11%
-90 % of all new US Initial Public Offers were Delaware corporations. Some of the notable IPOs were Facebook, Kayak, Restoration Hardware and Yelp.
-Division of Corporations revenue of $867.2 million made up 26% of the State’s general fund for 2012 compared to 24% in 2011.
-The Delaware Division of Corporations was hoping to hit the mark of 1 million active legal entities in 2012, which unfortunately did not happen until March of 2013.
-Delaware’s international marketing outreach included worldwide trips and conference leadership promoting the Delaware Advantage to India and South Africa.
Delaware’s total package, combining Delaware’s General Corporation Law and LLC law, Court of Chancery, and Division of Corporations working together, make Delaware the premier home of choice for entities today.
Click here to view the complete report.
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.