The First State
Corporate
The legal and financial engine of the First State.
Why a Million Companies Call Delaware Home
More than two-thirds of the Fortune 500 are incorporated in a state most of them never set foot in. The reason is less about taxes than about a courtroom.
M&A Watch: A Quarter of Deals End Up on the Chancery Docket
Almost every large merger draws a lawsuit, and a striking share of them are filed in Wilmington. Here is what the litigation actually accomplishes.
Boardroom Season: What Delaware Proxy Fights Teach Everyone Else
When activist investors and boards collide, the battle is often fought under Delaware rules. This year's contests offered a clinic in corporate power.
Inside the DGCL: The Statute That Governs Corporate America
The Delaware General Corporation Law is only as long as a modest paperback, yet it sets the ground rules for how public companies are run.
The Court of Chancery, Explained
No juries, no criminal cases, and judges who read balance sheets for a living. Delaware's business court is unlike any other in the country.
The Fee Economy: How Corporate Filings Fund the State Budget
Delaware residents enjoy no sales tax in part because the world's companies foot a remarkable share of the bill.
The Delaware Question: Is Incorporating Elsewhere Finally Worth It?
A handful of companies have made noisy exits to other states. We asked corporate lawyers whether the threat to Delaware's franchise is real.
Franchise Tax 101: What the State's Best-Known Revenue Stream Costs
Every entity registered in Delaware owes an annual franchise tax. Understanding the two ways it is calculated can save a company thousands.
Registered Agents: The Quiet Industry Behind One Famous Address
A single low-rise building in Wilmington is the legal address of hundreds of thousands of companies. Welcome to the registered-agent business.
Meet the Chancery Bar
A small, specialized group of litigators tries the cases that shape corporate law. Getting into their ranks is harder than it looks.
A Plain-English Guide to Forming an LLC in the First State
The limited liability company is Delaware's most popular entity by far. Here is what actually happens when you file one.
Startups and Series A: Why Your Term Sheet Says 'Delaware C-Corp'
Nearly every venture-backed startup converts to a Delaware corporation before raising serious money. Founders should understand why.
Wilmington's Riverfront Bet
A stretch of the Christina River that once held rail yards and warehouses has become the closest thing Delaware has to a financial district.
Credit Card Country: How Delaware Became a Banking Powerhouse
A 1981 law rewrote the rules on interest rates and lured the credit-card industry to Delaware. The state has been a banking hub ever since.
Annual Report Deadlines: A Compliance Calendar for Delaware Entities
Good standing in Delaware is easy to keep and easy to lose. A short calendar of dates separates the two.
Trust and Trusts: The Rise of the Delaware Statutory Trust
Beyond corporations and LLCs, a lesser-known Delaware vehicle has quietly become a workhorse of real estate and structured finance.
Downtown Reinvented: Office Vacancies and Wilmington's Core
Remote work emptied floors across the country. In a city built on white-collar employment, the question is what fills them next.
Directors' Duties: Reading the First State's Latest Fiduciary Rulings
Care and loyalty are the two obligations every corporate director owes. Delaware's recent decisions sharpened what they mean in practice.