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In this tutorial, Alec from the official YouTube channel of a social enterprise explains the concept of the Circuit of Incumbency. He discusses how, according to Delaware laws, a company doesn't need to provide all information on its certificate of formation. Instead, it can be presented on a Certificate of Incumbency, which allows for the inclusion of the company's owner names, shareholders, interest rates, and addresses. Key differences highlighted include that the certificate of formation is state-approved, while the certificate of incumbency is approved by a notary in Delaware. The latter requires less detailed information, allowing companies to simply provide their name.
