En su forma más simple, la Corporación General consta de tres niveles de poder; los accionistas, los directores y los oficiales. La Asamblea de Accionistas “ADUEÑAN” la empresa. Los directores “MANEJAN” la empresa y los oficiales”CORREN” la compañía día a día. Los Estatutos de la empresa establecen las facultades y los límites del poder en cada una de las gradas. Cada grupo puede tener prioridades distintas y podrian devatir de vez en cuando. Cuando uno sube de nivel en contra de los otros, una batalla de adquisición puede sobrevenir. Batallas de adquisición son habitualmente peleadas en la Corte de Delaware de la Cancillería. En esta corte de negocio único un solo juez decide el caso. No hay jurados, ni tribunales, ni 12 hombres en pugna. Un juez determina rápidamente qué parte deberá prevalecer de acuerdo a los 200 años de las leyes y los precedentes legales. Se dice que los Cancilleres Tribunales respetan las decisiones de buena fe de los administradores sobre las prioridades de beneficio de los accionistas, pero la mayoría de los accionistas en general, pueden elegir una nueva junta directiva, en caso de no agradarles la que actualmente tienen.

El “Reglamento” acerca de cómo estas tres categorías interactúan entre sí, está contenida en tres bases de conocimiento general. El “código”, que es la norma legal aprobada por la Legislatura del Estado, en este caso llamada “Ley General de Sociedades de Delaware” (DGCL), la “jurisprudencia” dictada por la Corte de Delaware de la Cancillería y el Tribunal Supremo de Delaware en los últimos 200 años y en las sentencias “Carta”, que son las decisiones judiciales individuales en una miríada de pequeños detalles que surgen en un caso judicial.

Los accionistas tienen concedidos dos “derechos” que los directores y administradores no reciben: El derecho a votar por La Junta Directiva, y el derecho a participar en los dividendos de la empresa en su parte proporcional cuando la Directiva declaró dividendos. Los accionistas, sin embargo, no pueden operar la empresa. Ellos no pueden intervenir de repente y empezar a decirle a la gente qué hacer. Ellos actúan en juntas, no en forma individual. (A menos que una persona es propietaria de más del 50% de la empresa. En ese caso se podría controlar toda la empresa y los tres niveles de poder.)

La Mesa Directiva también actúa en las reuniones. Directores no suelen actuar de forma individual. Las reuniones deben ser previamente anunciadas a todos los Directores y debe contener la mayoría de los consejeros presentes a ser una reunión legal. El Consejo de Administración toma todas las decisiones importantes en la empresa. Son responsables de la política de la empresa y supervisar a los administradores. Los directores de la compañía determinan lo qué se hará con sus beneficios y controlan la venta de acciones en la compañía. Contratan a la Mesa Directiva de la compañía para dirigir la empresa día a día.

Los oficiales trabajan a placer de la Mesa Directiva, o por contrato con la Junta. Los oficiales son por lo general el Presidente, Vicepresidente, Secretario y Tesorero, pero los estatutos de la empresa pueden preescribir cualquier tipo de funcionarios y títulos, responsabilidades y funciones. Los oficiales son responsables del comportamiento de la empresa y la rentabilidad. Si fracasan, podrian ser despedidos. Si tienen éxito, se convierten en superestrellas.

Esta estructura única, con tres niveles obligatorios de poder, merece un voto de confianza por el éxito de la revolución industrial americana, la economía estadounidense desde 1900 y todo el negocio de Wall Street. Esta estructura difiere de otras formas de organización de empresas como el único propietario o sociedad, que le preceden y la Sociedad de Responsabilidad Limitada que le siguió históricamente.

Si su visión es formar una gran empresa, como Apple o Google o Dell, no se podía elegir un mejor vehículo para tomar el paseo, que una Corporación General (sociedad anónima) de Delaware.

To read the English version of this post, click HERE.

As owners or participants in a business, family members must confront a range of issues:

• Which family members “own” the business now?
• Which family members contribute the most value to the business?
• As the business grows, how will its ownership and management evolve?
• How will ownership transition smoothly and equitably to the next generation and to future generations?

Benefits of Incorporating Your Family Business in Delaware

• Limited liability
• Asset protection
  • Homesteading & Insurance
  • Delaware Family Limited Partnerships
  • Delaware Corporations and Limited Liability Companies
  • International Corporations
  • Delaware Trusts
  • International Trusts
• Offsets inadequate insurance
• Pass-through taxation (with S-Corp and LLC)
• Business deductions for losses and expenses
• Enhanced credibility with existing and potential customers
• Investor attraction

Many family businesses today are taking advantage of Delaware’s flexible LLC and close corporation laws. The flexibility of the Delaware LLC stems the way it allows business owners to establish what is known as a private operating agreement. This agreement is similar to a contract between family members. The contract sets forth the company’s governance structure and does not have to be filed with the State of Delaware; the arrangement is the personal, private business of you and your family.

In the operating agreement, you determine the rights and privileges of the members. Among a wide array of arrangements you can set up, the agreement can identify and separate owners from managers, define compensation arrangements, and mandate what will happen in the event one of the principals retires or dies.

A Delaware LLC can even allow for different classes of members: those who run the company, those who are employed by it, children of family members, and future generations. At the same time, a Delaware LLC provides your family with the benefits of pass-through taxation and limited liability.

The Delaware close corporation is meant for tight-knit groups such as a family. Its structure makes it very difficult for a (family) shareholder to transfer ownership to someone outside the family without the consent of the other family members. This is a way to ensure that business remains in the family as long as its members want it to. And, if the close corporation elects Subchapter S status with the IRS, it also enjoys the benefits of pass-through taxation and limited liability.

LLCs are a good choice to hold the assets because they are tax-free companies with strong liability protection. And, if they are set up properly, you won’t need to file separate tax returns for each LLC, which saves time and money. The family home is a personal asset. For further protection, your home should be homesteaded and insured. Homestead laws vary from state to state, so be sure to check with a local lawyer about the rules that govern your state’s homestead protection. In some states, you will need to register to be covered; in other states, there maybe a limit on the value you can protect.

If there is a family farm involved, protect it by placing it in a Family Limited Partnership (FLP). The FLP will allow you to maintain control, but will spread out the legal ownership. If you are sued personally, the farm won’t be sold to satisfy a judgment against you. In addition to being the first step in estate planning, Family limited Partnerships are also great asset protection plans.

An LLC agreement can be a written document or merely an oral understanding. A written agreement, however, is typically used because it memorializes the understanding and agreements of the members, which, in the event of a later dispute or misunderstanding (or the unfortunate possibility of litigation), is an invaluable protection in the interest of all parties involved. Although each LLC agreement is different, an LLC agreement will generally set forth certain fundamental terms such as:

• The ownership percentage of each member
• The manner in which profits, losses and expenses are allocated
• The authority of members to bind the LLC and participate in day-to-day management
• The voting rights of each member in making certain key decisions
• The circumstances under which a member may withdrawal from the LLC, and the way in which the member’s economic interest is calculated upon withdrawal
• The ability of a member to sell or pledge its interest to a third party
• Terms contemplating the death or disability of a member
• The circumstances and terms under which new members may be admitted
• The circumstances under which the LLC will be liquidated, and the priority of claims among the members upon liquidation
• Indemnification rights (if any) in the event the LLC or member is sued in connection with the business of the LLC

Delaware does not require that the LLC agreement be filed and made publicly available. A Delaware LLC is typically formed anonymously by the filing of a Certificate of Formation with the State, which includes only the name of the LLC and the office of the registered agent (Harvard Business Services). That is it!!!

Harvard Business Services, Inc can assist you in forming an LLC, and has many types of LLC agreements that can either be used as-is or can serve as a starting point for you to develop your own terms and provisions. We can be reached at (800) 345-2677, and would be happy to provide you with more information.

Theoretically, the higher a company appears in the SERPs  for a particular search term, the more visitors the site will receive and the better chance a sale will be made. For instance, even a small charter fishing operation in Delaware could benefit greatly by enacting an SEO campaign. By making subtle changes to their site, placement or ranking could drastically improve when someone searches “Tuna Fishing in Delaware” or some type of variable. Instead of spending hundreds or thousands of dollars advertising in local papers or magazines, which often produce little results, they could optimize their web site allowing their site to appear near the top of the list for certain terms. By taking advantage of the optimization the small fishing charter now is at the top of the list for that search, at the particular time someone is searching for a Charter fishing trip in Delaware.

Often businesses will hire a search engine optimizer to analyze the site and provide the necessary feedback to improve rankings. Tweaks or modifications to the site and often the HTML coding are required in order make the most of the campaign. If possible receive the input from the search engine optimizer during the creation or redesign of the site. This allows the site to be designed from the ground up to make the most of the optimization. Imagine clients looking for your product/service and instantly your site can appear at the top of the list above that of your competitors! Some tech savvy individuals will try and tackle the project on their own. Google offers a Sitemap program that helps to analyze the site and provide guidance to create your own SEO program.

Whether a search engine optimizer is brought in to assist or the project is tackled in house, search engine optimization is  definitely worth exploring for any business. To get started try reading Google’s Search Engine Optimization Starter Guide http://www.google.com/support/webmasters/bin/answer.py?hl=en&answer=35291