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While the Texas economy grows, the business court system is lost in the 20th century

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There comes a moment in each of our lives when we decide to actually read the invoices that we are forced to pay at the end of each month. Be it the house payment, the auto loan, or even the internet bill, there is almost always a tiny phrase that in the fine print of the legalese. No matter the obligation, the companies that have the greatest hold on our personal bank accounts are invariably designated: xyz company, a Delaware corporation.

Why Delaware? One of the tiniest states in the union. Why not New York, California or even Texas?

The simple answer is that Delaware determined early in its history that in order to bring new business to its territory, it would have to provide a judicial system that was as sophisticated as the companies it sought to attract. Delaware has developed one of the most litigated, settled, seasoned and vetted court systems for complex business organizations and practices on the planet. Over the last 200 years, during the evolution of economic commerce in America, it was in the small state of Delaware that businesses learned to speak to each other and, more important, to settle disputes among themselves.

A critical component […]

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