News correspondent Chuck Todd, host of NBC’s Daily Rundown, recently interviewed Delaware’s Governor Jack Markell, discussing why Delaware is renowned as a friend to corporations.
Governor Markell explained why over a million businesses, including more than half of all Fortune 500 companies, find Delaware the best place to incorporate a business. While all states work hard in order to attract big business, Delaware has developed a three pronged approach that is just what most CEOs want. First, Delaware’s corporate law and judicial precedents go back a hundred years, respecting the good faith decisions of the Board of Directors. Second, the Delaware Division of Corporations is an efficient department which is known for its expedited service, and third, Delaware’s Court of Chancery has a world-class reputation for fair and fast decisions when a company faces litigation, especially litigation from shareholders.
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.