Utilize the Best Venue

• Prior to filing a new corporation, the corporation's founders should carefully research the various state venues and choose a state that provides the advantages that meet the corporation's specific goals.
  
  For instance, a corporation that wishes to incorporate in an environment that allows shareholder friendly governance may choose to file in North Dakota where state laws favor shareholder rights. Corporations wanting to incorporate in a legal environment that is corporation-friendly may choose to file in Delaware where a special Court of Chancery has been established to adjudicate corporate matters.
  
  A corporation may also be advantaged by filing in a state that has a favorable tax environment. Some states, including South Dakota and Nevada, do not have a corporate income tax. This frees up corporate income and mitigates double taxation concerns on behalf of the corporation's shareholders.
  
  

Use Official Resources

• Many state secretary of state's offices provide the standard forms for incorporation online through their websites. These forms are frequently accompanied with instructions for how to complete the form and guidelines for submission as well as the applicable filing fee schedule. This resource allows incorporators to obtain the necessary forms, documentation and instructions without cost.
  
  

Don't Re-Invent the Bylaw Wheel

• Potential corporation officers can access a number of no-cost resources online. For example, online document sites such as Docstoc, Scribd and Issuu contain examples of bylaws that the new incorporation can copy, customize and use. This allows the corporation to take advantage of commonly used governance principles and best practices and avoid the cost of drafting new bylaws from scratch.
  
  

Carefully Review Bylaw Procedures

• Each bylaw provision should be carefully considered, and thought should be placed into the potential impact of each provision. For instance, the amendment provisions should be carefully calibrated so as to allow for the future amendment of the bylaws without establishing an amendment bar that is too low and could lead to instability within the corporation.