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Delaware maintains a national reputation as the corporate capital of the country. Its law firms represent some of the largest companies in the world, it has the most respected judiciary for corporate law in the nation, and it is home to over 60% of the companies listed on the New York Stock Exchange.
Delaware Courts have been instrumental in making Delaware the corporate capital it is today. Delaware’s 2,500 attorneys practice in the state’s Supreme Court, Superior Court, Court of Chancery, and Court of Common Pleas. Their decisions are generally pro-business and sway heavily in favor of allowing leeway to corporate boards of directors and executives.
A multitude of famous cases have made their way through Delaware courts. One that made it all the way to the Supreme Court was United States v. Playboy. The case was famous for preventing Cable operators from restricting what time of day people could choose to watch Playboy and other adult content.
Delaware was the first state to officially ratify the United States Constitution in 1787. For this reason, Delaware considers itself “the first state.” Delaware was also among the first states to allow corporate creation under their general laws, as opposed to legislative action. The move spurred rapid corporate growth in Delaware during the early 1900s, setting the stage for the Delaware Judiciary’s rise to preeminence in corporate jurisprudence.
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Last Modified: 05-06-2014 02:33 PM PDT