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I researched this very briefly last year, and a Vermont Virtual company was quite interesting: http://gigaom.com/2008/06/17/vermont-oks-the-creation-of-virtual-

I researched this very briefly last year, and a Vermont Virtual company was quite interesting: http://gigaom.com/2008/06/17/vermont-oks-the-creation-of-virtual-corporations/ http://gigaom.com/2008/06/17/vermont-oks-the-creation-of-vir...

middayc 16y ago
wow, interesting.. haven't seen this yet. There are also some interesting links and details in comments.
pelle 16y ago
While the law is there it seems to have halted. I have tried to get information about this out of them on the state level. There is no services yet. But it might be an interesting opportunity for a startup.
rada 16y ago
I've been following this development but unfortunately, it's never materialized to the extent that is implied in the Gigaom article. http://en.wikipedia.org/wiki/Virtual_business http://en.wikipedia.org/wiki/Virtual_business In 2008, Vermont amended its laws governing corporations to accept electronic forms of legally required meetings, operating agreements, documents, signatures, and record keeping. A Vermont corporation (S-corp or LLC), while required to maintain a registered agent with a physical address in the state, can be started, operated and terminated without any of the principals ever being in each others' physical presence. Since you can register in any other state via a registered agent, it doesn't really add much to the registration process - the difference here is Board meetings. The requirements for in-person vs. teleconferenced Board meetings are governed by each state. Below is a (1999) compilation of various states' requirement. As you can see, there are NO states that explicitly require Board meetings to be in person and lots of states that provide for at least some form of teleconferencing. http://www.muridae.com/nporegulation/documents/teleconf_definitions.html http://www.muridae.com/nporegulation/documents/teleconf_defi... So personally, I don't see what is so crazy special about Vermont. Anyone cares to explain? Edit: Also, I am pretty sure the article references the wrong bill. If you look at the actual bill in the state database, you will see that the relevant bill is H-458, not H-888. http://www.leg.state.vt.us/docs/legdoc.cfm?URL=/docs/2008/bills/house/H-458.HTM http://www.leg.state.vt.us/docs/legdoc.cfm?URL=/docs/2008/bi...

middayc 16y ago

wow, interesting.. haven't seen this yet. There are also some interesting links and details in comments.

pelle 16y ago

While the law is there it seems to have halted. I have tried to get information about this out of them on the state level. There is no services yet. But it might be an interesting opportunity for a startup.

rada 16y ago

I've been following this development but unfortunately, it's never materialized to the extent that is implied in the Gigaom article. http://en.wikipedia.org/wiki/Virtual_business http://en.wikipedia.org/wiki/Virtual_business In 2008, Vermont amended its laws governing corporations to accept electronic forms of legally required meetings, operating agreements, documents, signatures, and record keeping. A Vermont corporation (S-corp or LLC), while required to maintain a registered agent with a physical address in the state, can be started, operated and terminated without any of the principals ever being in each others' physical presence. Since you can register in any other state via a registered agent, it doesn't really add much to the registration process - the difference here is Board meetings. The requirements for in-person vs. teleconferenced Board meetings are governed by each state. Below is a (1999) compilation of various states' requirement. As you can see, there are NO states that explicitly require Board meetings to be in person and lots of states that provide for at least some form of teleconferencing. http://www.muridae.com/nporegulation/documents/teleconf_definitions.html http://www.muridae.com/nporegulation/documents/teleconf_defi... So personally, I don't see what is so crazy special about Vermont. Anyone cares to explain? Edit: Also, I am pretty sure the article references the wrong bill. If you look at the actual bill in the state database, you will see that the relevant bill is H-458, not H-888. http://www.leg.state.vt.us/docs/legdoc.cfm?URL=/docs/2008/bills/house/H-458.HTM http://www.leg.state.vt.us/docs/legdoc.cfm?URL=/docs/2008/bi...