The State of Delaware is the second smallest state in America after Rhode Island and is situated on the east coast of the United States in the heart of the New England business, finance and IT corridor, mideway between New York and Washington, D.C.. The United States Census Bureau estimates that the population of Delaware was 907,135 on July 1, 2011, a 1.02% increase since the 2010 United States Census.
Delaware has a separate Court of Chancery that handles Corporation law cases quickly, competently and exclusively. Judges of this court are appointed on merit alone and not elected. The corporate law of Delaware are very user-friendly and is widely recognized as being one of the best in the country, often been used by other states as a standard for testing corporate laws. As a result, its corporate laws are familiar to many lawyers both domestically and internationally.
Infrastructure & Economy
Since the 1990s Delaware has become increasingly dependent on the finance and insurance sectors for employment and income, although manufacturing and agriculture are still important. The manufacturing, credit card, banking, and insurance industries are heavily concentrated in the north, while farming is carried on mainly below the Chesapeake and Delaware Canal . Chief agricultural products are broiler chickens, soybeans, corn, and dairy products. Potatoes and other vegetables are also grown. Delaware 's small fishing industry harvests mainly clams, menhaden and oysters.
Industries around Wilmington, especially the chemicals and materials company that was founded by the Du Pont family in the 19th cent. and that continues to be one of the largest in the world, also contribute to the state 's wealth. In addition to chemicals and chemical products, the biomedical, apparel, processed foods, rubber and plastic products, and transportation equipment industries are important. Dover Air Force Base is the largest military facility in the state.
• Exchange Control
• Type of Law
- Statutory law based on British Common Law with extensions by the U.S. Congress and the Delaware State Legislature.
• Principal Corporate Legislation
- Delaware General Corporation Law as amended.
• Type of Company for International Trade and Investment
- The Delaware Corporation or Limited Liability Company (LLC).
• Restrictions on Trading
• Powers of Company
- A Delaware Corporation or LLC has the full capacity of, and all rights, powers, and privileges of, a natural person.
• Language of Legislation and Corporate Documents
• Shelf Companies Available
• Language of Name
• Registered Office Required
• Name Restrictions
- The name must not be the same, or deceptively similar to, the name of any corporation, limited partnership, limited liability company, foreign corporation, foreign limited partnership, foreign limited liability company, or a name reserved for use of any other proposed corporation, unless written consent of the person or other entity for whom the name is reserved is filed with the articles. A name appearing to be that of a natural person and containing a given name or initials must not be used as a corporate name, except with an additional word such as "Incorporated," "Limited," "Inc.," "Ltd.," "Company," "Co.," "Corporation," "Corp.," or other word identifying it as not being the name of a natural person. If the name implies banking, trust, or insurance powers, prior approval of the banking superintendent or insurance commissioner is needed.
• Suffixes to Denote Limited Liability
- The name must end in Inc, Corp, Corporation, Ltd., Limited, Co. or Company.
• Disclosure of Beneficial Ownership to Authorities?
• Classes of shares authorised
- Par value shares and no par value shares