Delaware - Preferred Gateway to the Marketplace
This article provides an overview of the main reasons Delaware has become the preferred business gateway for those planning to enter the U.S. marketplace. In addition to highlighting Delaware's renowned court system and reputation for innovative business legislation, the article discusses key advantages offered by three of Delaware's most popular business organization forms: corporations, limited liability companies, and statutory trusts. These benefits include liability limitations and potential tax advantages, as well as flexibility with respect to matters such as formation, ownership, management and operations.
About the Authors
Robert L. Symonds Jr. and Matthew J. O'Toole are partners in the Delaware law firm of Morris, James, Hitchens & Williams LLP. Both have broad experience with the structuring and use of Delaware business entities. Mr. Symonds is one of the principal drafters of the Delaware Limited Liability Company Act, and is a member of the Delaware State Bar Association's committee charged with reviewing and proposing amendments to the Delaware Statutory Trust Act. Mr. O'Toole is a member of the Council of the Corporation Law Section of the Delaware State Bar Association. Mr. Symonds and Mr. O'Toole both serve on the Delaware State Bar Association's committee that reviews and proposes amendments to Delaware's limited liability company and partnership statutes.
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