Tips For Your Fast-Paced Year End Corporate Transaction (Part I)November 23, 2017 Corporate, Registered Agent, Due Diligence, Tips
Please enjoy this popular and informative re-post from last year’s blog: Tips For Your Fast-Paced Year End Corporate Transaction (Part I). We will re-post Part II next week.
Year end is here. Lightning speed transactions require entity Formations and Registrations in several states. Below, we have listed some reminders to help you through the year-end rush.
Delaware Direct Access.
Delaware by far is the state where the majority of year-end transactions occur. Working with a service company (Online Agent) that has direct Delaware Corporate Database access will provide you speed and answers when needed. This access allows for direct information look ups, document scanning, and document print requests from the Delaware database. Access is granted to those who meet specific criteria required by the Secretary of State.
Name Availability, Reservation, and Registration.
Proactively checking availability, reserving, or registering a business entity name can prevent many headaches due to name conflicts. Don’t be caught with conflicts in 1 or 2 states after you have filed in 10 others. Taking more time to prepare Name Amendments, rush the Board of Directors to choose alternate names, and then check Availability of those names can be minimized or prevented. This will also allow you to have Forced / Assumed / Trade Names chosen or checked in advance and any state or county forms prepared. All of the points will expedite the Formation and Registration process.
Forms, Supporting Evidence, and Review.
Request the forms directly from your service company. They should frequently be working with all Secretary of State forms and be able to provide you with the most current form to avoid a rejection. Your service company should review documents for common submission errors, proper supporting evidence, and calculation of filing fees.
Nationwide Registered Agent Service Company.
You service provider is there to create uniformity for the different terminology, documents, and processes for each state—not provide legal advice. You need the public records section of your transaction to be completed in multiple states without issues. Working with a nationwide provider will help centralize the multi-state public records section of the deal.