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Both, of course chose Delaware as their corporate home, even though they are headquatered elsewhere. But why did they choose different entity types? The difference between an LLC and a corporation is clearly defined by this one example that the new generation of entrepreneurs will fully take advantage of... Continue Reading
"How can the Delaware LLC be filed without the owner's name being listed on the public record? That is the most popular question that I hear on a daily basis. The purpose of this post is to spell out exactly how it is possible to file a Delaware LLC and how to protect your ownership if you file and decide not to list your member's names on your formation documents... Continue Reading
Over time, the Non-Stock Corporation has pretty much become synonymous with the term Non-Profit. The common use of the Non-Stock Corporation as the vehicle to obtain tax-exempt or... Continue Reading
Back in October, 2009 we discussed how the LLC is owned, operated and maintained in a post titled 101 on an LLC Agreement. Many clients have come to us with questions and are curious about the fact that Delaware LLC law provides for an oral LLC agreement... Continue Reading
You structure your own LLC. That's the beauty of the entity itself; no need for three tiers of power, like the General Corporation. No need to follow what others have done, or follow their rules. You dream up the ideal structure for your situation, draft it up and that's it. Your LLC Company Agreement can be uniquely yours so that it fits the deal like a glove... Continue Reading
If you were to walk into an accountant's office, and explain to them that you are a small business owner running a sole proprietorship looking to form a company, what type of corporate entity do you think they would tell you to form? There's a real good chance the first words out of the tax professional's mouth would be, "Form an S-Corp"... Continue Reading
When talking to clients we often get asked: Is the company of corporate "seal" required? and What is it's main function? The corporate seal is a tool used to stamp or emboss your important documents to show that the document is certified by and agreed upon by the Board of Directors of the company. The seal contains the company's name, year of incorporation, and the state filed in. Think of the seal as the official signature of the company... Continue Reading
When forming a Delaware LLC, clients will often have questions about the document that they will receive from the Delaware Secretary of State, Division of Corporations. The Certificate of Formation is the document that you will receive back from the State of Delaware once your company is filed and approved... Continue Reading
Back in February, our chairman wrote one of his first blog articles on shares of stock entitled, Demystifying Stock. In it he defines "Stock" and some of the terms commonly associated with stock, like Authorized Shares. Reading his article should give you a better understanding of the definition of stock, but it may still leave you wondering, "How many shares of stock should I authorize for my corporation?"... Continue Reading