Date Posted: 11/21/2013
For decades, business planners have been drawn to Delaware to form business entities. While Delaware’s popularity as a jurisdiction for formation is attributable to a number of factors, most business planners would note the quality of the State’s bench and bar, the entrepreneurial nature of the state government and a General Assembly that is committed to annually updating the business statutes to ensure that they remain state-of-the-art. In 2013, like most years, the Delaware General Assembly passed legislation updating and improving Delaware’s business statutes. One particular legislative change, the adoption of new Section 251(h) to the Delaware General Corporation Law, provides business planners with a new (and novel) way to effect certain corporate mergers.
Date Posted: 11/8/2013
A new law in Delaware allows companies that blend profit-seeking and enhancing societal-good to register as “Public Benefit Corporations” (aka “PBCs”). To date, 53 PBC’s have been formed making Delaware the fastest growing jurisdiction in the nation among the 20 states that have enacted similar legislation.