Contact: Allison Fore
INDIANAPOLIS (July 10 , 2007 ) – Indiana Secretary of State Todd Rokita announced today the launch of INBiz -- an online portal designed to serve as a one-stop shop for chartering new businesses in Indiana.
"The flexibility offered by incorporating online is a critical step toward building a more business-friendly Indiana," Rokita said. "It is the ideal complement to efforts we've undertaken to modernize business law and make Indiana more competitive with states like Delaware and Nevada – traditional havens for developing corporations."
The primary feature of the INBiz portal, located on the SOS Website, is the ability to incorporate online. Users may also search public databases to find information on businesses registered in Indiana, research trademarks, download trademark applications, perform Uniform Commercial Code (UCC) filings and searches, and file Business Entity Reports.
INBiz is part of Rokita's eGovernment initiative to streamline the business formation process. With increased efficiency resulting from reduced manpower and paperwork, the new process for incorporation will translate to savings for businesses and taxpayers.
"For frequent users, the benefit of incorporating online is significant. A process that used to take days now takes minutes," Rokita said.
Types of businesses that can be formed online include domestic corporations, domestic limited liability companies, domestic nonprofit corporations, domestic limited partnerships, domestic limited liability partnerships, foreign limited partnerships and foreign limited liability partnerships.
In 2006, the Business Services Division processed more than 31,000 new business filings. The number of filings has increased year to year since 2003, and 2007's numbers are on track to beat the last year's high mark. INBiz has been publicly tested since February 2007 and updated based on feedback from early users. To date, more than 1,600 entities have formed using the portal, and the adoption rate by users grows each month.