Glossary

If you're getting ready to launch a new business, chances are you know your product or service and your market like the back of your hand. But the mechanics of forming a business entity-knowing the terminology-may be more difficult to understand.

To help you sort through the terminology, Harvard Business Services, Inc. has included a comprehensive glossary to help guide you. To use the glossary, match the first letter of the term you want to look up with the alphabet list below, and click on that letter.

Of course, our team of business formation professionals is standing by to help you make informed decisions if you need more information

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Name Change Amendment

A formal filing with the Secretary of State that amends the original company name. Change your company name using our service.

 

Name Reservation

The act of filing an official reservation of an entity name with the Secretary of State. Names can be reserved in Delaware for free for 30 days by HARVARD.

 

Net Assets

Gross assets, less all expenses and taxes due.

 

No Par

A share with no specific monetary value given to it. The actual value of the shares is determined by the board of directors.

 

Nonprofit Corporation

A Corporation organized for some charitable, civic, or religious purpose that does not generate profits for its shareholders. Must apply for non-taxable status with the State and Federal Government.

 

Nonresident Alien

A nonresident of the U.S. can form an LLC in Delaware and can avoid paying income taxes or filing tax returns if no U.S. source income is generated and the nonresident alien spent less than 180 days in the U.S. during that tax year.

 

Nonstock Corporation

Same as “Nonprofit Corporation.”

 

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Delaware Company Formation

Since 1981, Harvard Business Services, Inc. has helped form 130,549 Delaware corporations and LLCs for people all over the world.

Registered Agent Service

Harvard Business Services, Inc. guarantees your annual Delaware Registered Agent Fee will remain fixed at $50 per company, per year, for the life of your company.