SINCE 1974 
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Delaware Corporation What Does It Mean to Incorporate? A business is formed when the formation involves an “unincorporated” entity. In other words, you do not incorporate LLCs, LPs and partnerships, you form them. When someone talks about incorporating a company, any business lawyer will tell you this means starting a corporation, not forming an LLC. With the […]
Non-Profit Corporation Is A Non-Stock Corporation a Non-Profit? A non-stock corporation is not a non-profit by default. Forming a non-stock corporation is just the first step to becoming a non-profit. An organization must have additional filings approved by the IRS to be granted 501(c)(3) tax exempt status. A non-profit organization does not have any stock by definition. […]
Delaware Series LLC What Is an Umbrella LLC, Exactly? An umbrella LLC is another word for a holding company. An umbrella LLC owns other LLCs that are below it, known as subsidiaries. It effectively shelters those LLCs from cross liability in the event that future litigation results in a judgment creditor trying to collect against assets of a […]
Business Insights What Is An LLC Membership Certificate? LLC membership certificates look like stock certificates issued by a corporation, however, they do not function in the same way. The certificate lists the name of an LLC member and details their ownership interest in the company. The law does not require LLCs to issue membership certificates. This […]
Certificate of Incumbency What Is A Certificate of Incumbency? A Certificate of Incumbency is an internal company document that provides details about the company’s leadership at a moment in time. Certificates of Incumbency are particularly useful for verifying authorized people within a company during processes like opening bank accounts or securing financing. For corporations, the Certificate of Incumbency […]