CHOOSING YOUR DELAWARE BUSINESS ENTITY

Delaware Corporations LLC, in conjunction with the law firm of Smith, Katzenstein & Jenkins LLP, is pleased to provide this basic guide to the different ways a business may be organized under Delaware law. (To learn more about Delaware Corporations LLC, see their website at www.delawarecorp.com. To learn more about Smith, Katzenstein & Jenkins LLP, see their website at www.skjlaw.com).

The following information is provided as a public service, contains general descriptions not necessarily applicable in all circumstances and does not and should not be viewed as legal or tax advice. Persons desiring to form a business entity should first consult with an attorney or other business advisor.

Table of Contents

Introduction

Types of Delaware Business Entities

Sole Proprietorship
Corporation
General Partnership
Limited Liability Partnership
Limited Partnership
Limited Liability Company
Delaware Statutory Trust
Joint Venture

Some General Business Concerns

Management and Control
Personal Liability
Tax Treatment
Regulatory Compliance

Why Choose Delaware?

Conclusion

Quick Reference Guide