Incorporating In Delaware
Incorporating in Delaware. The process is easy. In fact, the forms you need are available for free on the Division of Corporation's website. So you download the form, send it in with a check, and you're a Delaware corporation. If you've done your research, you'll know that a taxpayer identifcation number is needed. If you haven't done your research, you'll find out soon enough when you try to open a bank account in your corporation's name.
If you intend to do business in another state (besides Delaware), you'll be required to become qualified in that state to do business as a foreign corporation.
But you're not finished. You should also have organizational documents, such as a statement by the incorporator, resolutions by the shareholders, resolutions by the directors, by-laws, stock certficates, a corporate seal and more. If you have partners, you'll also need a buy-sell agreement.
Over the years I've had a number of clients retain my services long after their accountant helped them become incorporated in Delaware. Unfortunately, the accountant did not let them know about these other documents, or that they should get help from a Delaware business attorney. In most cases, it's not too late to work with an attorney and correct the problems.
So if you're in the situation described above, it would be in your best interest to schedule an appointment withh an experienced attorney to review where you are and where you need to be.
