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Delaware Corporation
The heart of the practice is domestic and international business transactions and disputes.
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Incorporation in Delaware offers owners certain advantages. For example, Delaware gives corporate management notable latitude in its powers to operate and control the corporation. Also, because of the extensive experience of the Delaware courts, Delaware has a more well-developed body of case law than other states, which serves to give corporations and their counsel greater guidance and, thus, greater predictability.
Delaware's lax corporate laws are important because the United States has an important corporate law doctrine called the "internal affairs doctrine." Pursuant to this rule, corporations which act in more than one state are subject only to the laws of their state of incorporation with regard to the regulation of the internal affairs of the corporation.
As a result, Delaware corporations are subject almost exclusively to Delaware law - even when they do business in other states. Without this rule, national corporations would be subject to the varying (and potentially inconsistent) laws of each state.
While most states require a for-profit corporation to have at least one director and two officers, Delaware laws do not have this restriction. All offices may be held by a single person who also can be the sole shareholder. The person, who does not need to be US citizen or resident, may also operate anonymously.
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| Quick Facts |
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Don't
be penny wise, pound
foolish. Have your
contracts
reviewed/drafted by an
HLA attorney.
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Business transactions
are a delicate balance
of nurturing the deal
while protecting the
client's interests.
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