Through the ups and downs of the economy, the stock markets, and private investment activity, Nevada remains loaded with highly successful family owned businesses approaching critical decision points. These decision points may arise from shifts in management or ownership to the next generation, retirement, need for capital to expand or remain competitive, desire to diversify the family assets by cashing in all or part of the ownership, among numerous other possibilities. Many of these business owners have worked with legal and tax advisers to plan their estates. While this is important, far fewer seem to have taken steps to prepare their businesses for a possible corporate transaction, whether a sale, merger, private financing, initial public offering, or even a major debt financing. Even if this seems remote today, a few steps today can save much time and money in the future.
By Neal Klegerman

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For years, law firms and industries have formed corporations under the provisions of the Delaware General Corporation Law (“DGCL”). Nevada corporations formed pursuant to the provisions of the Nevada Revised Statutes (“NRS”), although traditionally utilized by businesses in the Western United States, now have many advantages over correlative Delaware law. This memorandum will discuss certain advantages of Nevada over Delaware corporate law and will also compare the substantive provisions of both corporate statutes.

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