Lawrence A. Hamermesh Esq. Law professors enjoy scholarly debate. They engage their students in it, and they engage their colleagues in it. It is the grist of the academic mill. For many relatively heavily capitalized corporations, Delaware incorporation may be advisable to take advantage of Delaware law.
Commentators generally agree on the reasons why Delaware has become preeminent . . .
Firms feel relatively confident that Delaware will respond promptly to the concerns of corporate managers in the future, because it has done so in the past . . . The second consequence is less obvious, but much more important in the long run. Since the students of today are the lawyers of tomorrow, it is Delaware corporate law that the lawyers of tomorrow will be versed in when they practice corporate law. The human capital investment in knowledge of Delaware corporate law is a very valuable asset. Amassing a similar body of knowledge with respect to some other jurisdiction s corporate law would require a radical reformation of the corporate law curriculum and an expensive retooling of the nation s corporate bar.