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Glossary Terms

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Electronic Signature

A mark, symbol, notation or signature in electronic form that is utilized to indicate one’s intent to be bound by that document.

Electronic Transmission

Any form of communication not in paper form that creates a record that can be retained, retrieved and reviewed by the recipient. Delaware allows voting by and notice to Members to be provided via electronic transmission.

Employer Identification Number (EIN)

The tax identification number provided by the Federal Government to each entity that applies. Single –member LLCs are disregarded entities to the IRS and therefore they are not given an EIN. Also see Federal Tax Identification Number. Get your EIN.

Estate Planning

The process of creating, while still alive, a mechanism for preserving assets for distribution to others upon one’s death or even before. LLCs are commonly used to hold real estate for estate planning purposes.

 

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