Corporation service company

Corporation service company

Corporation Service Company ("CSC") is the second largest Registered Agent service company in the world representing hundreds of thousands of business entities worldwide including a substantial number of the Fortune 1000.

History

CSC commenced business in 1899. Otho Nowland, then President of Equitable Guarantee & Trust Company suggested to a young lawyer named Christopher Ward that they together establish an agency to assist and facilitate in organizing business entities (Corporations, LLC's, etc.) and subsequently acting as their registered agent. With only an initial investment by Nowland and Ward, "The Delaware Incorporators' Trust Company" was created. A similar company was formed separately by Josiah Marvel who was a well-respected attorney and then leader of the American Bar Association, The Delaware Bar Association and the Delaware State Chamber of Commerce.

In 1920, Ward and Marvel combined their companies under the name "Corporation Service Company" (CSC). Through the 1970s, CSC continued to serve only Delaware business entities. The company increased in size along with Delaware's then reputation as "The Corporate State". In 1975, Daniel R. Butler joined CSC as part-time president. At this time, CSC had only 12 employees. From 1976 to 1979, under the direction of Butler, CSC underwent a campaign of advertising and marketing and increasing the number of sales staff to facilitate growth. During this time, CSC grew from a small "Delaware only" service provider to the industry's leading privately held company and achieved record annual sales.

From 1980 to 1985, CSC continued to grow and received an infusion from the sale of its subsidiary company, the "Delaware Charter Guarantee & Trust Company", which it had acquired in 1977. In 1990, CSC acquired Florida-based "Corporate Information Services" (CIS). This acquisition was the first of many designed to expand CSC's scope beyond the State of Delaware. Between 1990 and 1998, CSC continued expanding through acquisitions of 9 other service providers including Prentice Hall Legal & Financial Services in 1995 and Entity Service Group, LLC in 1998. After this period, CSC had a solid footprint outside the State of Delaware in major cities throughout the United States.

Between 1990 and 1999, CSC acquired The Company Corporation (which was one of the first companies to provide incorporation services via the internet), and Corporate Agents.

In 2002 CSC acquired Powerbrief's litigation management application in order to facilitate offering litigation and matter management solutions to their clients. This same year, CSC's subsidiary, "Corporate Domains, Inc." became an ICANN accredited domain registrar and began managing domain names for CSC's many Fortune 500 clients. The culmination of CSC's acquisition strategy resulted in the release of RecordsCenterSM which is an online application combining "Compliance, Governance and Intellectual Property" tools.

In 2003, CSC acquired Lexis-Nexis Document Solutions to supplement its Uniform Commercial Code (UCC), secured lending, and motor vehicle services.

In 2006, CSC launched and expanded to offer incorporation and registered agent services to specific small-business sectors. They also created a new trust company, "The Capital Trust Company of Delaware" which provides corporate trustee services for personal and Delaware business trusts.

As of October 2006, CSC represented 121,979 entities in Delaware and 9,500 active entities in Nevada.

Corporate affairs

In recent years, CSC has been positioning themselves as an integrated solution to corporate governance. Through acquisitions of other firms, they have grown and amassed governance tools and name management systems. They are known to be fiercely competitive and it is rumored that every new employee at CSC is given an actual golden spike and told that they are to drive it through the heart of CT Corporation, CSC's larger competitor. The current president of CSC, Bruce R. Winn is known as an aggressive personality that makes known his strong desire to surpass CT Corporation as the largest agent service company.

References

External links

Search another word or see Corporation Service Companyon Dictionary | Thesaurus |Spanish
Copyright © 2014 Dictionary.com, LLC. All rights reserved.
  • Please Login or Sign Up to use the Recent Searches feature