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The Delaware General Corporation Law (Title 8, Chapter 1 of the Delaware Code) is the statute of the Delaware Code that governs corporate law in the U.S. state of Delaware. [ 1] The statute was adopted in 1899. Since then, Delaware has become the most prevalent jurisdiction in United States corporate law and has been described as the de facto ...
Delaware's economy shifted to a manufacturing base in the late 19th century, led by the transformation of the DuPont Company. [1] Modern growth in the financial workforce has overtaken the manufacturing sector in the state's economy. The Delaware General Corporation Law provides a flexible and stable framework for national incorporation. [2]
The Delaware Court of Chancery is a court of equity in the U.S. state of Delaware. It is one of Delaware's three constitutional courts, along with the Supreme Court and Superior Court. Since 2018, the court consists of seven judges. The court is known for being a hub for corporate governance litigation in the United States, as two-thirds of ...
February 14, 2024 at 6:01 AM. By Jody Godoy. (Reuters) - Elon Musk has claimed that Delaware, home to much of corporate America, is trying to prevent businesses from heeding his call to leave the ...
Corporation Trust Center. Coordinates: 39.74847°N 75.54764°W. American office for CT Corporation - 1209 North Orange Street, Wilmington, Delaware. The Corporation Trust Center is operated by CT Corporation, a subsidiary of Dutch information services firm Wolters Kluwer. The company provides " registered agent services" [ 1] and, as such, is ...
Smith v. Van Gorkom 488 A.2d 858 ( Del. 1985) [ 1] is a United States corporate law case of the Delaware Supreme Court, discussing a director's duty of care. It is often called the "Trans Union case". Van Gorkom is sometimes referred to as the most important case regarding business organizations because it shows a unique scenario when the board ...
Unocal v. Mesa Petroleum Co., 493 A.2d 946 (Del. 1985) [ 1] is a landmark decision of the Delaware Supreme Court on corporate defensive tactics against take-over bids. Until the Unocal decision in 1985, the Delaware courts had applied the business judgment rule, when appropriate, to takeover defenses, mergers, and sales. [ 2]
Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., 506 A.2d 173 (Del. 1986), [1] was a landmark decision of the Delaware Supreme Court on hostile takeovers. The Court declared that, in certain limited circumstances indicating that the "sale" or "break-up" of the company is inevitable, the fiduciary obligation of the directors of a target corporation are narrowed significantly, the singular ...