Berger Harris partner and Business Law Basics co-author Brian Gottesman was interviewed by Family BusinessCast on the advantages of forming or incorporating a small business (such as a family-owned enterprise) in Delaware.
Among the issues covered:
- The procedure behind forming or incorporating a business entity in Delaware.
- The sophistication of the Delaware General Corporation Law, Delaware Limited Liability Company Act, and related statutes.
- The unique expertise of Delaware courts (particularly the Court of Chancery) in resolving intra-company disputes.
- Limitation of liability.
- Charging order as a creditor of an LLC member's exclusive remedy.
- Fears of Delaware law being taken advantage of by criminal enterprises.
- The tax benefits of Delaware holding companies.
Family BusinessCast, a production of Family Business Media LLC, is a resource that provides information on legal, accounting, and investment issues to family-owned businesses. In April 2014 Family BusinessCast posted an interview with Brian Gottesman on the subject of operating agreements for small businesses, followed in early June with an interview with David Anthony on employment issues facing family businesses. Additional interviews with Berger Harris attorneys have been taped and are expected to be posted in the next few weeks.