• October 2019
    M T W T F S S
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Should I incorporate myself or use a lawyer?

Unfortunately, Delaware is somewhat behind on the technological movement to convert the legal field into an accessible online forum. That being said, there is no way to completely file electronically. Rather, they offer the forms online and they can be faxed to the appropriate agencies when you complete them. Here is a link to the website so you can take a look for yourself; Division of Corporations.

Aside from simply filling out the paperwork, Delaware has some other requirements you should be mindful of. One of the requirements is that you have a registered agent in the state. If your business will be located in Delaware, you can simply elect to have your place of business serve as the location of your agent. However, if you are a non-Delaware Corporation, then you will need to take additional steps to satisfy this requirement.

Your best bet is to hire a lawyer. This process can be complicated and difficult, particularly because there is no electronic filing option in this state. Foremost, a lawyer can help you determine what type of entity you want to file as (ex; Corporation, LLC, PC, etc.) to best protect your company and assure its success. Also, Delaware has a nuanced requirement for filing for tax exempt status, so a lawyer will be able to help you figure out if you qualify, and what type of protection your company can get.

Delaware is one of the most desirable states for companies to incorporate under. There are a number of reasons for this, but simply put, it is primarily because they have business friendly regulations regarding corporations. Due to this, there are a great deal of highly-qualified and experienced attorneys in the Delaware area that can help you out.

You should check out our website; LawTrades. You can connect with our attorneys 24/7 and can conduct a great deal of your legal work through our network. Finding a business minded lawyer who can give you meaningful insight into how to file, what to file as, etc.

Overall, the process should not be too difficult or time-consuming. However, you want to make sure that you are choosing the best options for your company and maximize the advantages offered under Delaware’s laws/regulations.

Regarding how many shares you should issue, this will depend on a number of different factors. I know when I launched my two startups, this was a main point of concern because the ultimate goal is to secure capital to help your company grow. Once again, a lawyer can give you hand determining what your best options are, and what your goals should be.

I hope this answer is helpful. Best of luck with your company! If there is anything else I can do to help, please don’t hesitate to reach out!