Why Incorporate in Delaware?
May 26, 2009
Most of us know that tons of businesses choose to file in Delaware, but what’s so great about the First State? More than half of the corporations that make up the Fortune 500 are incorporated in Delaware, and for good reason.
The easy answer to this question is that it doesn’t cost much to incorporate in Delaware compared to most other states; plus, if you don’t actually conduct business in Delaware you don’t have to pay corporate…READ MORE
Why Name an Outside Party as Registered Agent?
May 21, 2009
Corporate, Registered Agent
In these tough economic times, many people are asking, “Why would I incur the cost to name a service provider as registered agent for my business? Why not just name one of my employees?”
In practice, there are some significant advantages to enlisting an outside party to accept service of process and other legal and tax documents on behalf of your business.
Consider the following:
If your trusted employee is out of the office on…READ MORE
Need Some Help in Figuring Out Where to Conduct UCC and Lien Searches?
May 19, 2009
UCC, Revised Article 9, Tips
When searching for liens as part of a prefunding search package, it is important to know where liens could be filed. The last thing any lender wants is a surprise lien! In order to be certain you’re getting the results you think you are; searches must be performed for the right records at the appropriate filing office.
Here are some tips to help determine where to search:
1. Revised Article 9 sets forth that UCC Financing Statements…READ MORE
All UCCs (Uniform Commercial Code) Are Not Created Equal
May 15, 2009
You would think that something called Uniform Commercial Code (UCC) would be uniform throughout the states, right? If only it were. As folks who regularly file UCC filings nationwide know, Uniform Commercial Code varies widely from state to state.
In Georgia, for instance, you have to pick a county in which to file even though all UCC filings are recorded in a centralized statewide database. In order to file a UCC-3, you need to make…READ MORE
Wondering What Parties to Search as Part of Your Prefunding Due Diligence?
May 13, 2009
Corporate, Due Diligence, Revised Article 9, Tips
Searching for the right party is imperative when coordinating due diligence search efforts. This may seem simple, but keep in mind that liens could be filed under business names, individual names, aliases or nicknames, even fictitious business names. So, how can you be sure you are searching for the right name?
Here are a few pointers to get you on the right track:
1. Check corporate charters to determine the exact legal name before…READ MORE