The U.S Chamber's Institute for Legal Reform just released its survey results for this year and Delaware is ranked #1 for the seventh year in a row as the state with the best legal climate. This is important because your business will benefit if you are incorporated in Delaware; the state is ranked #1 for the impartiality and competence of its judges and the fairness of its juries. Below is an excerpt:
The U.S. Chamber’s Institute for Legal Reform (ILR) today released its survey ranking the states with the best and worst legal climates in the country. According to the survey, the states with the worst legal climates are California (46th), Alabama (47th), Mississippi (48th), Louisiana (49th), and West Virginia (50th). The states with the best legal climates are Delaware (1st), North Dakota (2nd), Nebraska (3rd), Indiana (4th), and Iowa (5th).
The survey also shows that a state’s legal climate affects how and where a company does business and creates jobs. Two-thirds, or 67%, of the 1,482 corporate lawyers and executives contacted say a state’s lawsuit environment is likely to impact important business decisions at their company, such as where to locate or expand their businesses. That is up 10% from just three years ago.
Here is the full detailed Institute of Legal Reform report.
THE AUTHOR OF THIS BLOG ARTICLE IS NOT A LAWYER AND HARVARD BUSINESS SERVICES, INC. IS NOT A LAW FIRM. THE ARTICLE ABOVE IS NOT INTENDED AS LEGAL ADVICE AND SHOULD NOT BE TAKEN AS LEGAL ADVICE. THIS SHORT ARTICLE IS STRICTLY TO MENTION SOME ASPECTS OF DELAWARE’S CORPORATION LAWS AND/OR LAWS RELATING TO OTHER FORMS OF ENTITIES WHICH YOU MAY NOT BE FAMILIAR WITH. WE RECOMMEND THAT YOU CONSULT WITH A LAWYER BEFORE FORMULATING A STRATEGY WHICH WILL BE SUITABLE FOR YOUR SPECIFIC CASE.