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The Electric Telegraph Company was registered under the new Joint Stock Companies Registration and Regulation Act of 1844 on September 2, 1845. To enable it to negotiate with public authorities and to obtain wayleaves over private property it required powers from Parliament through Statutory Incorporation, by legislation, as with the railways.The Electric Telegraph Company Bill was to pass through Parliamentary scrutiny with remarkably little difficulty.So much so that when the government took over in 1868 the board of directors, apparently, ordered the destruction of all of its historic documents, records and files. The new Company adopted as its motto the curious Latin sentiment – which very loosely translates as "succeed or do not try".
As in 1838 Morse recorded in his notes all the advances he had found in Europe regarding the far superior electro-magnets, the new overhead iron wires and the new ceramic insulators.
Speeding back to New York by steamer, Morse cynically incorporated them all with Alfred Vail's ingenious if clumsy apparatus into a patent for what was to become the well-known American telegraph in April 1846 in his own name.
Typically, he then approached one of the Electric's speculative competitors offering to sell them his apparatus.
Also in that September Morse contrived to examine the line worked with Wheatstone's dial telegraph between Haarlem and Amsterdam in the Netherlands before going on to Paris to view the government circuits there.
The three partners transferred all their rights in the patents to the Company by an indenture or contract dated August 5, 1846.