Delaware is the state of organization of many small business organizations including most of my clients.
Yesterday Delaware joined 34 other states in passage of legislation that makes use of more liberal federal crowdfunding rules for small business equity financing. The new state law recognizes the provisions of federal law under the JOBS act.
I’ve said in many talks and online posts before: to the extent that state laws move in conformity with federal laws, this is a help for small businesses. But when state laws are different from federal laws, this is setting a deliberate legal trap for firms.