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<a href='http://VirtualCorporation.org'><font size='+2'>
A Virtual Corporation is an online company which can run by individuals who own the intellectual property or new branded services, that can enjoy limited liability and can open bank accounta, distribute net proceeds to firm participants who have contributed value, and enter into contracts with 3rd parties.
Requirements to enable this new online mode of economic production require some minor changes in existing law. It's not surprising our current laws governing <a href="http://corporatecommunications.com/">corporate corporations</a> and limited liability companies (LLC) do not fully recognize capabilities of the World-Wide-Web and Internet. Now that we can communicate and collaborate electronically from anywhere, it is time to eliminate artificial requirements of paper-based filings, of physical, face-to-face real-time meetings, and of physical company headquarters (while preserving, of course, the requirement of an agent for service of process). • Permitting the Secretary of State to prescribe document formats and methods for electronic filing allows for a company formation process that can adapt to the needs of online companies and to the ever-changing array of online communication tools. Electronic filings have the additional advantage to the Secretary of State of streamlining the filing process, enabling a more efficient and accurate record system. • Holding meetings in an entirely online forum is only a small departure from current practice, which regularly involves the use of telephonic communication. Asynchronous online communication tools, however, allow for wide participation by company members, providing the flexibility necessary to accommodate a global membership base rather than state specific. • The traditional requirement that a business entity retain a physical place of business is a vestige of a different time and way of thinking. The act of filing in Vermont is sufficient to confer jurisdiction and online companies should not be required to have more of a local presence than an agent for service of process. More information on corporations, incorporation, new <a href="http://incub.com/">business incubation</a> is next by going-here now...
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