What is the process for forming a corporation?
Forming a corporation in Delaware is a multi-step process. The first step is obtaining a name for the corporation, which must satisfy certain criteria. The name of the corporation cannot be the same as, or deceptively similar to, any existing corporation or limited liability company registered in Delaware. If the name is available, the next step is to prepare and file Articles of Incorporation with the Delaware Secretary of State. This document must include the name of the corporation, the address of its registered office, and the name and address of its registered agent. The registered agent must be an in-state resident, a corporation or LLC authorized to do business in Delaware, or the Delaware Secretary of State. The Articles of Incorporation must also include the purpose of the corporation, the class and number of shares the corporation is authorized to issue, and the name and address of each incorporator. After the Articles of Incorporation are filed, the corporation must appoint a Board of Directors and a President. The corporation must also issue stock certificates to its shareholders. This must be done before the corporation may conduct business. Lastly, the corporation must obtain any applicable business or professional licenses and complete any other necessary documentation, such as obtaining an Employer Identification Number from the IRS. Once all requirements are met, the Delaware Secretary of State will issue a certificate of incorporation, which will officially recognize the corporation’s existence.
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