Launching a business in the U.S. can be complex, so finding the right partners along the way is essential. To help, we’re bringing you a new series, The Delaware Concierge Team, to introduce you to our group of business development experts. They have the answers and guidance for getting your business up and running quickly!
First, meet Matt O’Toole, a partner at Potter Anderson & Corroon LLP.
Matt won’t tell you this, but he is one of the world’s foremost experts on Delaware Limited Liability Companies. A longtime resident of Delaware, Matt has worked for many years counselling business owners on best practices for launching and operating a company in the U.S.
When he’s not helping entrepreneurs, Matt is helping to build the framework for Delaware business law:
- Matt chairs the Council of the Corporation Law Section of the Delaware State Bar Association
- He has helped draft amendments to the Delaware General Corporation Law, the Delaware Limited Liability Company Act, the Delaware Revised Uniform Limited Partnership Act, and the Delaware Revised Uniform Partnership Act
- He helped draft the Delaware Insurance Company Mutual-to-Stock Conversion Act and the Delaware Revised Captive Insurance Company Act.
- He is supporting State efforts to develop the Delaware Blockchain Initiative
- He is coauthor of what is considered the definitive treatise on Delaware LLCs, Symonds & O’Toole on Delaware Limited Liability Companies,
Wow. We are lucky to have him on our team (and in our State!).
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Hi Matt, thanks for talking to us. How do you specifically work with international entrepreneurs?
Essentially, I advise businesses, both large and small, on corporate and commercial matters. Entrepreneurs come with many questions. It’s important that I listen, and understand their real needs.
Often we discuss legal structure. I talk to people about the infrastructure of their company, and what makes sense for them now and for the long term. Sometimes forming a corporation is not the best fit, and an LLC or other “alternative” entity is better.
In addition, I introduce business owners to a network of professional advisers that I know. I connect them to people who can help for them to become successful in their specific market.
Do you charge a fee to work with international entrepreneurs exploring opportunities here?
I do charge a fee when providing legal services, but not when I’m working with Global Delaware. It’s my contribution to public service, and I am happy to share my thoughts and experience with international businesses and investors who are thinking about coming here to Delaware.
There are many lawyers working with international companies. What would you say makes you uniquely qualified to help those companies coming to the U.S.?
I have been living and practicing law here in Delaware for many years. I have the experience to provide sound legal advice and the local perspective necessary to provide practical guidance.
And you do all this as an employee of the State of Delaware?
No, actually. I am in the private practice of law as a partner at Potter Anderson & Corroon LLP in Wilmington and have been practicing law since 1993.
In addition, my role in the Delaware Bar Association is a volunteer position.
The Global Delaware team likes to call me an “ambassador” for the State. When you get to know Delaware, you find that the public and private sectors often work together for the common good. For example, private lawyers who practice corporate law are involved with monitoring our corporation law and recommending legislative changes to our General Assembly. That private-public partnership is analogous to the work of the Global Delaware Concierge Team in that it’s designed to maintain and bolster both businesses and our State. We all want our State’s economy and community to prosper. We take on personal responsibility to create the environment for business and entrepreneurial growth.
How can investors contact you?
They can email me, call me, or ask through Global Delaware. I look forward to talking to them.
Matthew J. O’Toole
Potter Anderson & Corroon LLP
1313 N. Market Street, P.O. Box 951
Wilmington, DE 19899-0951
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