Each year the United States Chamber of Commerce announces which States have the best and worst legal system. For the fifth year in a row, Delaware has received the top honors, being named the State with the fairest legal system. Additionally, a survey of U.S. businesses ranked Delaware as the State doing the best job of creating a fair and reasonable legal environment. As many of the top businesses in the United States, and a growing number of small and medium sized businesses, have chosen Delaware as the place to incorporate, that ranking should not come as a big surprise. The results of the 2006 study, which was officially conducted for the United States Chamber Institute for Legal Reform by The Harris Poll, surveyed a national sample of in-house general counsel or other senior corporate litigators to explore how reasonable and fair the legal system is perceived to be by U.S. business. In order to ensure the integrity of the results, respondents were first screened for their familiarity with States, and those who were very or somewhat familiar with the litigation environment in a given State were then asked to evaluate that State. When deciding where to incorporate, there are a number of considerations that businesses must take into account. Perhaps the single most important consideration for any business is the legal environment within the incorporation State. Over the past few years, several States have tried to create more favorable climates for businesses; but year after year, it is Delaware that provides the most fair and competent judges, the best and most efficient handling of litigation proceedings and juries that are competent, fair and predictable. It is also Delaware that provides the most flexible and business-friendly incorporation laws, including minimal regulation and minimal yearly filing requirements. (visit www.delawareinc.com) Recently, formation companies in the State of Nevada have been mounting an advertising campaign to drive businesses into the desert, touting the State’s minimum regulation. What is missing from Nevada, however, is a fair, competent and predictable legal environment. In fact, in 2006 Nevada ranked worst among the States in terms of creating a fair and reasonable legal environment while ranking 37th overall. Additionally, according to several magazine publications, venture capitalists and angel investors they will all routinely throw away business plans they receive from companies incorporated in Nevada. What this means, of course, is that if you are a legitimate business you could get inappropriately labeled as unsavory simply because you have incorporated in Nevada. Additionally, many, if not most of the Nevada companies who help individuals set up companies, tout the fact that when you file a Nevada LLC the owners of the LLC can remain anonymous. To some, such anonymity may be helpful, but the Nevada promise is misleading at best and completely disingenuous at worst. While you can anonymously create a Nevada LLC, the company must provide the Secretary of State with the names and addresses of each manager or managing members on or before the last day of the first month after the filing of the Nevada LLC. See Nevada Revised Statutes 86.263. Therefore, the promise of anonymity in Nevada can be a hollow promise. While anonymous ownership may not be important to all, in some situations there can be a legitimate business interest in keeping matters private. Unlike Nevada, Delaware truly does offer an answer to those in search of privacy. Simply stated, in Delaware, if you want to create an anonymous LLC you can do just that. No where in the Delaware laws is there any requirement that the managers or members be identified in any filing. In fact, the Delaware law relating to the formation of LLC’s specifically says that the names of the managers or members may be included, but are not required. See Delaware Code § 18-102. Therefore, if anonymity is what you want then Delaware is the place to incorporate, not Nevada. When deciding to incorporate in Delaware, companies of all sizes receive the benefit of the most developed business laws in the United States. The Delaware Chancery Court is renowned throughout the country for its handling of complex business matters. In fact, other States attempting to copy Delaware’s successful business climate turn to and defer to the Delaware Chancery court and its rulings, thereby acknowledging the superior climate provided to businesses by the State of Delaware. Where you incorporate is a big decision, but for companies of all sizes Delaware has made the decision very easy. Whether you are a start-up business, family business, small business, large business or subsidiary, Delaware is the place to incorporate. Whether you are forming a LLC, a partnership, a general corporation or a C-corporation, you will benefit from the nation’s premier legal system.
Delaware State in the USA now it attracts millions of tourists every year. The campsite is a vacation destination for many people each year. This camping site can accommodate tents and large recreational vehicles. Electricity, water and sewer services are also available at some sites. In the Indian River Inlet Snack vending machines, Showers and Laundry make life easier for the tourists coming here. These sites are available on a first come first serve basis, but you can book some of the sites for fully self contained camping units all year around. Holts Landing State Park has an interesting history. A small Holts family stayed there doing farming and fishing, near the bay until 1957 when the State Govt. took the property and made it into an historical park. This 203 acre area has some beautiful landscapes from Bay Shore to the grassy fields and on to the hardwood forests. In 1965 this state park was transferred to the State Commission of Parks, making it Holts Landing State Park. Located in the heart of Kent County is Killens Pond State Park. In the center of the park is a 66 acre millpond, set in 1700, offering boating and fishing in a serene and natural setting. Its places of stay are popular with the tourists no matter which season it is and are hired the full year around. The cabins offer sleeping rooms, kitchens, dining rooms, bath with shower, A/Cs and heaters. A grill, picnic table and a porch is available outdoors. In the rent of cabins also included is the rent of canoeing and boating. Trap Pond State Park is a fresh water wetland that covers a large portion of Sussex County. It still retains the beauty and mystery of the damp squib and covers the Northern most of the natural bald cypress trees in US. It was created in 1700 to work for a Sawmill during the harvesting of bald cypress trees. The Govt. bought this piece of land in 1930 and recreated it. It became a State Park in 1951. Visitors can do hiking, wildlife watching the humming bird, owls, blue heron, warbler, bald eagles and pileated woodpecker. Anybody who wants to stay overnight can do so at many camp sites that are equipped with water and electricity. Tents and large vehicles can be parked under the huge pines. Youth groups have to book these in advance. Two nature’s preserves are located in Brandywine Creek State Park making it a stunning place to watch lots of wild flowers, deer, songbirds, many species of hawks (mid-September to mid-November) and other flora and fauna. Anglers can fish in the Brandywine Creek, which is full of bluegill, small mouth bass and crappie and for trout in Wilsons Creek. Canoeing and boating can also be done in Brandywine Creek. For tourists that are interested in fishing in Delaware Bay are welcome to Cape Henlopen State Park. It offers Snacks, bait and transport for the handicapped people. It is open from April 1 to October 31. Lums Pond State Park is located in the largest fresh water lake in Delaware State. These 1757 acres of park is located between Chesapeake peak and Delaware River. Lums pond itself provides a nice and sandy beach and boating and swimming.
Extraordinary designs, high quality and innovation are some of the cornerstones that describe Aico perfectly. Over the past two decades, Aico has become a major furniture brand. Michael Amini, the CEO and founder of the Aico makes right use of his vast experience by creating some of the most unique and luxurious furniture collections. Affordability, durability, gorgeous finishes and elaborate cravings are some of the many highlights of Aico furniture collection. Continuous refinement and meticulous planning are pillars of Aico Furniture brand. The brand creates a perfect fusion of classic old world craftsmanship along with outstanding quality.
One of the finest stores carrying Aico Furniture Collection is Home Living Furniture. They carry a massive inventory of high quality furniture and showcase over 400 rooms of furniture in their stores with products ranging over 70 different brands including Aico Furniture. Home Living has two beautiful showrooms in New Jersey and has been satisfying customers for over 12 years with low prices, exceptional customer service and quick delivery. It’s no wonder that they have achieved an ‘A+’ rating from the Better Business Bureau. From bedroom, dining rooms, mattresses and more, you can find furniture for the entire home. Design services are also available for those looking to customize the furniture to suit their needs better. Home Living ensures that every single product is chosen with maximum care before being included on its showrooms and in its catalog. Home Living is a leading home furniture store servicing customers in New York, Maryland, New Jersey, Delaware, Connecticut and throughout the east coast.
Much of Discount Aico Furniture is also displayed on their showroom floors. From Essex Manor to Trevi, bedrooms and dining rooms, Home Living offers it all. Essex Manor furniture collection dining room on display features beautiful wood inlayed dining room table with leather and fabric upholstered chair. The large breakfront in this collection features 4 doors for convenience and ample display space for your silverware and china. This collection is elegant, stunning, mesmerizing and a treat to the eyes. With Essex Manor, your dining room would look no less than a dream castle.
You have a wide variety of career options to choose from, in today’s world. Old system of education has given way to a more rationalised form of education which gives every student the right to voice his/her opinion. This has also broadened the view about career choices. Also, due to stiff competition every field requires the best and highly trained professionals to be recruited even for minor jobs. Fields like teaching, fashion designing, education industry, architecture, etc. which were not even considered as viable career options are flourishing rapidly today.
Career in Teaching:
In order to take up the profession of teaching, one must be a patient listener and ready to exchange ideas with the students.
Innovative methods of teaching should be adopted and every child should be given the right to voice his/her opinion.
Since government has laid so much importance on education, teachers are in high demand. There is a school even in the remotest areas of the country which require efficient teachers who spread education.
The introduction of virtual class room teaching has also increased the opportunities for teachers.
Career in education industry:
It is a myth that career in education industry is confined to teachers and principals of various schools and colleges. The education industry is a much larger sector which provides large variety of job opportunities to the youth.
There are some people whose works are known to us however, there are other group of people who work behind the scenes. These include the administrating staff that takes care of various functions in schools, colleges etc.
Jobs in the education industry can range from the bus driver of a school bus to the principal of an esteemed school. Every person related directly or indirectly to any education institution makes a major contribution to the education industry.
Career counsellors, psychologists etc. come under the team of the education industry which aims at imparting education to the country.
Career in fashion designing:
A career in fashion designing helps an individual to exhibit his/her creative abilities through clothes.
With the influence of the west, every body’s live is dominated by fashion trends. This has opened a large opportunity for the fashion designers to earn their livelihood.
There are various brands where you can work after completing your graduation from any of the top-notch colleges.
If you have an eye for beauty and an innovative mind you can take up this career option. Apart from a luxuries income you can also get to meet famous designers and learn from them.
While education industry and teaching are professional careers and require a strong academic background, fashion designing thrives on creativity. However, all three are the leading career options in today’s time and have attracted the youth in large numbers.
WLCI College is one of the top professional training institutes in India. This college established in the year 1996 and ever since engaged in providing students, across India, the opportunity to grow professionally & personally in a well-structured environment. The college has presence in 16 locations all across the country viz Ahmedabad, Bangalore, Bhubaneswar, Chennai, Delhi, Goa, Hyderabad, Indore, Jaipur, Kathmandu (Nepal), Kolkata, Lucknow, Mumbai, Nagpur, Noida and Pune. It offers Management, Fashion, Advertising, Design & Media courses and programs for under graduates, graduates and for working professionals. Combined with WLCI’s process-based learning system, it ensures the creation of abilities that helps students succeed in their lives.
With the beginning of the session, WLCI College Invites Applications for the Academic Year 2012 in All Management and Creative Programs.
WLCI Business School has made its high reputation in the education industry. The business management programs offered by School of Business are designed to equip you with relevant knowledge and be trained in skills and attitudes that will help to perform effectively in the profession of your choice. The programs offered are Professional Program for graduates & undergraduate in both full time and part time basis. Besides, there are other programs for working professionals, which help them in pursuing their higher studies.
Media industry has been booming very fast in the last one decade. The speech with mass media industry is growing is phenomenal. Owing to such growth of this industry, this has become one of the most coveted professions for youngsters. Through media courses students can give a kick start to their career.
The Fashion Industry has emerged as a fastest growing industry in the recent past. The fashion industry offers tremendous opportunities to those, who have a zest for fashion designing and creativity. The fashion programs prepare students to take up job opportunities in buying houses, export houses, fashion studios. They can even work as independent fashion designer and can showcase their work through different fashion shows. Those who think out of the box should surely go for this profession.
The field of Advertising and Graphic Designing has popularized many folds lately. Now every business is engaged in taking service of advertising industry. Since this field is a booming segment of economy, so do the career opportunities there. Students who have a passion for doing something different can take this as a career option.
You may choose to specialize in a particular field through our professional level programmes in journalism, radio programming & production, television & video production and advertising & marketing communication.
WITH WLCI College India, get the best of all three worlds- Bachelor’s Degree from an UGC Recognized University, WLCI’s Professional Certification and Great Placement Opportunities.
The type of business structure you organize for your new enterprise is greatly determined by your personality, realities, needs and experience. Millions of people in the United States never enter into any type of formal business structure. This includes the bulk of the black or underground economy.
It is estimated that the underground economy consists of about 10% of all commercial activity in the United States. This includes legal and illegal activities. A kid cutting your grass for $20 is technically working black. The handyman that repairs your patio for cash might be working black. Drug dealers are definitely kingpins of the underground economy.
Entrepreneurs should not want to work black, but should seek to be totally transparent for many reasons. The reason a person typically seeks to become an entrepreneur is to maximize the opportunity our capitalist system offers each person willing to try. This means playing by the rules, competing and pursuing success utilizing every available legal tool. The opportunity to sell a successful entrepreneurial business is almost zero without complete books, records and tax returns, typically details that underground business works hard to avoid.
I recommend any new entrepreneur seek consultation with an attorney familiar with the laws and regulations of the state, county, city or township of your residence. Even if you are planning to run your enterprise as a sole proprietorship, there are local zoning laws, restrictions on business activity, public announcement requirements, DBA (Doing Business As), fictitious name ordinances, etc. Do not try to avoid the pesky forms and filings required in most localities. If compliance is a hurdle for you, then success prospects for you as an entrepreneur are probably slim.
Your investment in the attorney consultation will pay for itself. You can go online, or visit the business section of the local bookstore and find just enough information to get yourself in trouble in these areas. Occasionally, I meet an entrepreneur that did not consult professionals, and has everything in order. This is very rare. More often, I meet shortsighted dreamers trying to cut a corner and save a few dollars. Professional help will save you time, money and mistakes.
Here are the most common business structures that entrepreneurs have access to when formalizing their new venture.
This is the most commonly utilized structure for new, small, startup business ventures. Essentially, the proprietor, you, the entrepreneur, announces that you are working alone. The sole proprietor accounts for all income from sales as personal income and is responsible for all debts incurred by the enterprise. Personal and business funds are often commingled in this structure and need to be identifiable for tax purposes. There is no formal corporate entity, but you must adhere to all local laws and statutes. A Federal Identification Number is not needed (use Social Security Number) when filing taxes.
When two or more people decide to enter a partnership, they basically agree to enter a form of marriage. We all know that marriages can get messy. Partners must minimize any possibility for a messy divorce by creating a partnership agreement that details what each partner brings to the opportunity (investment, sweat equity, intellectual property, etc.). Also, the partners responsibilities (silent, working, sales, marketing, production, etc.), and an agreed split of income, profits and harvest, as well as liabilities and losses.
I like, and often recommend, a partnership for young entrepreneurs with limited, narrow experience. Operations experience often does not translate to sales and marketing for instance. The only imperative is that there are no surprises after the enterprise succeeds, or fails. This when a cloudy division of liabilities or profits often becomes problematic.
Limited Liability Corporation (LLC)
Again, there are “do it yourself” methods of creating LLC’s. Use an attorney. I am no friend or fan of the legal profession. I am not a lawyer, either. I just know from experience that this is difficult: and often a contentious area of law that requires expertise.
An LLC limits the owner’s exposure to some losses. The LLC also enables the owner to treat income beneficially for tax purposes. Professional legal and accounting assistance is really important in establishing the LLC in a proper legal format.
The Corporation offers the most comprehensive protection for the owners. Losses accrue to the Corporation, in most cases. The Corporation assumes the role of a person, even though abstract. A Corporation requires the filing of Articles of Incorporation in a state. Consult an attorney for advice on which state to file this document. Nevada offers secrecy. Delaware is most popular for large corporations. Each state has different fees and requirements. Get good help!
The Incorporation requires a fair amount of housekeeping. This includes appointing a board of directors, keeping meeting minutes, issuance of stock, etc. Many startups convert to corporate status after achieving some amount of success.
There are other intricate options, trusts and arcane structures available. However, for 99.9% of all entrepreneurs the four discussed here offer the best vehicles for properly structuring a new business. Approach each with the goal of maximizing your income and minimizing your time commitment to housekeeping the entity you choose. Remember: in order to be successful as an entrepreneur will require every scintilla of your thought, work and creativity to be concentrated on your project.
Geoff Ficke has been a serial entrepreneur for almost 50 years. As a small boy, earning his spending money doing odd jobs in the neighborhood, he learned the value of selling himself, offering service and value for money.
After putting himself through the University of Kentucky (B.A. Broadcast Journalism, 1969) and serving in the United States Marine Corp, Mr. Ficke commenced a career in the cosmetic industry. After rising to National Sales Manager for Vidal Sassoon Hair Care at age 28, he then launched a number of ventures, including Rubigo Cosmetics, Parfums Pierre Wulff Paris, Le Bain Couture and Fashion Fragrance.
Geoff Ficke and his consulting firm, Duquesa Marketing, Inc. (www.duquesamarketing.com) has assisted businesses large and small, domestic and international, entrepreneurs, inventors and students in new product development, capital formation, licensing, marketing, sales and business plans and successful implementation of his customized strategies. He is a Senior Fellow at the Page Center for Entrepreneurial Studies, Business School, Miami University, Oxford, Ohio.