I am a corporate lawyer at a large New Jersey law firm. I am a former chair of the Business Law Section of the New Jersey State Bar Association and a member of the select committee that drafted the New Jersey Revised Uniform Limited Liability Company Act (NJ-RULLCA). The opinions that follow, however, are mine and should not be attributed to anyone else.
Delaware is the leading state for business formations. One reason Delaware dominates is because its corporation, limited liability company (LLC) and other business entity laws are advanced, comprehensive, flexible and, significantly, updated annually. The Delaware Bar Association and the Delaware Legislature work together on improving their business entities laws. As a result, Delaware is business friendly.
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