What Is Harvard Business Services? Your Guide to Delaware Company Formation

Starting a business is an exciting journey, but the legalities of setting up your company can often feel overwhelming. From choosing the right business structure to navigating state-specific requirements, it's easy to get lost in the paperwork. Have you ever wondered if there's a service that simplifies this complex process, especially if you're eyeing the business-friendly state of Delaware?

This article will demystify What Is Harvard Business Services, exploring their role as a specialist in Delaware company formation. We'll dive into the services they offer, why Delaware is a popular choice for businesses, and how Harvard Business Services can be a valuable partner in your entrepreneurial venture.

What Exactly Is Harvard Business Services?

At its core, Harvard Business Services (HBS) is a leading online provider specializing in business registration and incorporation services, with a primary focus on the state of Delaware. Founded in 1981 by Richard H. Bell, II, HBS has grown to help form over 400,000 Delaware corporations and LLCs for entrepreneurs worldwide.

It's important to clarify that despite its name, Harvard Business Services is not affiliated with Harvard University. Instead, their name reflects a commitment to a high standard of service and expertise in the business formation sector. They are also known as "DelawareInc.com," underscoring their deep specialization in Delaware entities.

Their mission is to make the process of forming a company in Delaware straightforward and efficient, offering a streamlined online experience from start to finish.

Why Choose Delaware for Your Business?

You might be asking, "Why Delaware?" It's a question many entrepreneurs ponder, and the answer lies in the state's remarkably business-friendly environment. Delaware has earned a reputation as the "Incorporation Capital of the World," attracting over half of all publicly traded U.S. companies and two-thirds of Fortune 500 companies.

Here are the key advantages that make Delaware an attractive state for incorporation:

• Business-Friendly Legal System: Delaware boasts a highly developed and predictable body of corporate law. The state's Court of Chancery, a specialized court with judges (not juries) experienced in corporate disputes, offers efficient and expert resolution of business conflicts. This provides a high degree of legal certainty for businesses.
• Tax Benefits: While taxes are ultimately paid where your business generates income, Delaware offers significant tax advantages for companies not physically conducting business within the state. These include:
  • No state corporate income tax on revenue earned outside of Delaware.
  • No state sales tax.
  • No tax on intangible income, such as trademark royalties, making it ideal for holding companies.
• Privacy Protection: Delaware offers a notable level of privacy for business owners. For LLCs, no public disclosure of members or managers is required. For corporations, only directors and officers are publicly disclosed, protecting the identities of owners.
• Flexibility and Simplicity: Delaware's corporate statutes are designed to be flexible and accommodating. The state allows for quick processing of incorporation paperwork, and business owners may not be required to identify shareholders or company officers publicly. You can even have just one person serve as a director, shareholder, and officer.

These benefits collectively create an appealing environment for startups, growing businesses, and established enterprises alike.

Services Offered by Harvard Business Services

Harvard Business Services focuses on providing comprehensive solutions tailored to Delaware entities. Their service offerings are designed to streamline the formation process and support ongoing compliance.

Key services include:

• Company Formation (LLC & Corporation): HBS facilitates the formation of both Limited Liability Companies (LLCs) and Corporations (C-Corps and S-Corps) in Delaware. They handle the preparation and filing of all necessary documents, including Articles of Organization for LLCs and Certificates of Incorporation for corporations.
• Registered Agent Services: A crucial requirement for any business incorporated in Delaware is to have a Registered Agent with a physical address in the state to receive legal and official correspondence. Harvard Business Services provides this essential service, often including the first year of Registered Agent service in their formation packages. They also offer one of the lowest annual Registered Agent fees in the industry, guaranteed at $50 per year for the life of your company.
• Compliance Services: Beyond initial formation, HBS offers services to help businesses maintain good standing and comply with Delaware regulations. These include:
  • Obtaining a Certificate of Good Standing.
  • Assisting with annual report filings.
  • Providing certified copies of documents and apostille services.
• Additional Business Services: To further support entrepreneurs, HBS also assists with:
  • Obtaining an Employer Identification Number (EIN) from the IRS.
  • Providing templates for essential legal documents like Operating Agreements.
  • Mail forwarding services.
  • Foreign qualifications, amendments, and dissolutions.

While their primary expertise is in Delaware, HBS has expanded to offer entity formation and Registered Agent services in all 50 states, though their specialization and competitive edge remain strongest for Delaware incorporations.

Who Can Benefit from Harvard Business Services?

Given their specialized focus and comprehensive offerings, Harvard Business Services is an ideal partner for a wide range of individuals and entities:

• Startups and Entrepreneurs: If you're launching a new venture and want to leverage Delaware's favorable business laws, HBS provides a fast and efficient path to incorporation.
• Small to Medium-Sized Businesses (SMBs): Existing businesses looking to reincorporate or establish a presence in Delaware can benefit from HBS's expertise in navigating the state's requirements.
• International Businesses: Non-U.S. residents and international companies often choose Delaware for its robust legal framework and investor appeal, and HBS is equipped to assist with these formations.
• Anyone Seeking Professional Guidance: If the thought of legal paperwork is daunting, HBS offers a simplified online process and lifetime customer support to guide you through each step.

Their services are particularly valuable for those who prioritize efficiency, competitive pricing, and a deep understanding of Delaware's unique corporate landscape.

The Harvard Business Services Difference: What Sets Them Apart?

In a crowded market of business formation services, what makes Harvard Business Services stand out? Several factors contribute to their strong reputation and long-standing success:

• Decades of Experience: With over 40 years in the industry, HBS has formed hundreds of thousands of businesses, demonstrating a profound understanding of Delaware business law and processes. This longevity speaks volumes about their reliability and expertise.
• Customer-Centric Approach: From its inception, HBS has prioritized personalized customer service. They offer lifetime customer support via phone, email, chat, and even Skype, ensuring clients have access to expert assistance whenever needed, often with a team of long-tenured employees.
• Transparent and Competitive Pricing: HBS is known for its clear and honest language regarding pricing, often including state filing fees in their package prices – a rare advantage in the industry. Their $50 annual Registered Agent fee is among the lowest and is guaranteed not to increase.
• Speed and Efficiency: HBS emphasizes rapid processing times, with options for same-day electronic filing. This means you can get your business registered and receive documents in a matter of days, or even hours with expedited services.
• Specialized Focus: Unlike many competitors who offer services across all 50 states, HBS's deep specialization in Delaware allows them to offer unmatched expertise and a highly refined process for companies looking to incorporate there.

These distinguishing features highlight why many entrepreneurs choose HBS for their Delaware incorporation needs.

Conclusion

Understanding What Is Harvard Business Services reveals a long-standing, reputable partner for entrepreneurs and businesses seeking to incorporate in Delaware. They stand out for their specialized expertise in Delaware company formation, competitive and transparent pricing, and a strong commitment to lifetime customer support. By simplifying the complexities of legal paperwork and offering crucial ongoing services like Registered Agent representation, HBS empowers businesses to leverage Delaware's favorable legal and tax environment with ease.

If you're considering forming an LLC or corporation and believe Delaware is the right strategic move for your venture, exploring the services offered by Harvard Business Services could be your next smart step.

Frequently Asked Questions

Is Harvard Business Services affiliated with Harvard University?

No, despite the similar name, Harvard Business Services is an independent company and has no affiliation with Harvard University.

Why do I need a Registered Agent in Delaware?

All businesses incorporated in Delaware are legally required to maintain a Registered Agent with a physical street address in the state. This agent is responsible for receiving official legal and tax documents on behalf of your company.

How long does it take to form a company with Harvard Business Services?

Harvard Business Services offers rapid processing times, with many requests handled within 1-2 business days. They also provide options for same-day or next-day expedited filing, depending on the package chosen and time of filing.

What are the ongoing costs after forming a company with HBS?

Beyond the initial formation package, the primary ongoing cost is the annual Registered Agent service fee, which Harvard Business Services guarantees at $50 per year for the life of your company. Additionally, Delaware requires an annual franchise tax (for corporations) or annual tax (for LLCs) to be paid to the state.