In the wake of headline-grabbing redomiciles many executives are reevaluating whether to form or maintain their companies in Delaware or to look instead to other jurisdictions such as Nevada and Texas. In this piece, we break down the key features of Delaware, Texas, and Nevada corporate law that early-stage entities should consider when choosing their state of incorporation.
DELAWARE -
With carefully crafted corporate law, a robust court system, and a responsive legislature, Delaware has long been the gold standard for incorporation. Delaware General Corporation Law (the “DGCL”) balances, in a nuanced fashion, the sometimes competing interests of directors and officers on the one hand and stockholders on the other. For example, the DGCL permits a high degree of director and officer discretion while providing certain stockholder inspection rights (unless waived)...
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