Compare Top Business Attorneys in Delaware

Each of their LLC packages includes great service, so we were not worried about our compliance with essential filing deadlines. Yes, Delaware LLCs pay taxes of $300, which are due on or before June 1st of every year. Under this section, we prioritized Delaware LLC service providers that offer packages jammed up with quality service features. So, in terms of flexibility, Delaware LLCs have a great advantage.
Officers, Assistant Officers and Agents, if any, other than those whose duties are provided for in these Bylaws, shall have such authority and perform such duties as may from time to time be prescribed by resolution of the board of directors. In the near term, the startup law will be one of the first Delaware Startup Lawyer major deliverables of the strategy. And this key piece of the digital transformation puzzle is fully focused on entrepreneurs and investors. Of course, you could obtain the same result by authorizing 1,000,000 shares with an option pool of 100,000 and a 900,000 common stock issuance to the founders.

These companies should still try and keep the language as broad as possible to avoid inadvertently violating the Certificate of Incorporation. For more information on operating agreements, read our Delaware LLC operating agreement guide. You should be able to get in contact with your attorney within a reasonable amount of time and be provided with advice and guidance that you understand. If it is difficult to get in touch with your startup attorney or they don’t take the time to explain things  in a way that you understand, you should look for a lawyer who communicates in a way  that meets your needs.
He opened his own law practice and began working primarily with small business owners until he was introduced into the startup world. Ever since that time, John has worked with hundreds of startups and thousands of entrepreneurs from all different backgrounds in helping them achieve their goals. Having been an entrepreneur his entire life, John understands what it takes to create and maintain a successful business. He enjoys sitting down and working with his clients in figuring out each of their unique challenges.

For example, though we are an expert small business lawyer in DC, we have also provided consultation to other cities’ clients. As a small business lawyer in DC, we represent some retail operations, such as bookstores and restaurants. Our government contractors clients hold various IDIQs and GSA schedules. If you’d like to read more about different corporate structures, the Small Business Administration provides great information here.  Startup lawyers come up with the share structure of the founders and spell out the conditions for qualification. Most business now have strong digital presence whether it's by having a website or social media presence.
It would be a mistake in my opinion to hire a lawyer to do any work outside the explicitly enumerated practice areas shown on their website. Note that the basic structure and the way the shares held in the new corporation has to reflect how the LLC was set up as of the date of the conversion. So, for example, if LLC membership interests are not subject to vesting in the LLC operating agreement when the company is about to convert, shareholders of the converted corporation would hold fully vested shares upon conversion. Such changes can be done in these alternative ways but would not be effected simultaneously with the conversion.
In return for capital contributions of cash, property, services or all three, you can issue stock. This is usually issued as paper certificates, and stockholders are recorded in the corporation’s stock transfer ledger. Specialization, even sub-specialization, and heavy quality filtering processes are unusual for many fields and industries. The answer relates to issues I’ve discussed in Legal Technical Debt.

Another reason might be pure economics – you simply cannot afford the additional Delaware Franchise Taxes, which at Startup typically range from $400 to $500. If you cannot afford this extra Delaware expense in addition to the California Franchise Taxes, then it may make sense to only set it up in California. Another issue that you should consider relates to Stockholder voting.
Registering your LLC gives you a legal foundation to conduct business. Plan to keep your LLC compliant and in active status on the state's website. The nine-digitEmployer Identification Number is assigned by the Internal Revenue Service to identify your LLC for taxes.

To register, file a Certificate of Registration of Foreign Limited Liability Company. The completed registration certificate must be accompanied by a Certificate of Existence, dated within 6 months prior to the filing of the certificate, from the foreign LLC's home state. It depends on the business and how much you want to work with your startup lawyer. One that’s common and is a big challenge to deal with is employment laws. When startups are brand new and they don’t have any money to pay anybody then it’s difficult to classify them as employees.
There have been recent changes to obtaining 501 status and we have worked with organizations in submitting successful applications on the simplified track by filing a 1023-EZ and the more rigorous 1023 application for larger organizations. Nonprofits also face similar legal challenges to assure that they comply with business requirements and additional requirements to assure that they do not jeopardize their tax exempt status. As a law firm for nonprofits, we work with nonprofit organizations to guide them through these issues. Each type of corporate structure has its advantages and disadvantages, and the one that’s best for your company may be different than the structure that is best for the entrepreneur down the street.
All expenses must be paid from that account and all revenue be deposited there. If the founders paid for incorporation expenses personally, they should submit an expense report and be reimbursed by the corporation from the corporate bank account. One of the “red flags” for the “piercing of the corporate veil” argument is the co-mingling of funds between the corporation and its owners. Although as a busy founder you may not have time to take care of ongoing corporate maintenance, there are some minimum corporate formalities that you should strive to maintain. I am an attorney licensed in California and currently based in Ohio, specializing in cybersecurity. With a strong focus on digital security, I can provide clients with valuable expertise and effective solutions to navigate the complexities of the cybersecurity landscape.

Citron & Deutsch, a boutique startup attorney in Los Angeles, covers many issues for startups, businesses, and executives. Because every organization is unique, they believe in a personalized approach to you and your company to customize dynamic guidance and services to your specific needs. Taking their clients through every stage of the formation process, their highly competent attorneys value the attorney-client relationship, which instills confidence and trust in both sides. Mario's firm focuses on serving growth companies throughout the venture capital life cycle from startups to public companies. The firm provides services related to business law, specifically corporate, securities, business combinations and commercial transactions.