Why the corporations are fleeing Delaware

For more than a century, executives have flocked to Delaware, the First State, to incorporate their businesses. It’s not for the beaches or even the taxes — Delaware’s 8.7 percent corporate rate, in fact, ranks near the highest in the country.

Delaware’s secret sauce has long been its corporate jurisprudence. But recently, activist judges in the state have set out to padlock Delaware’s main attraction. They are sending companies packing for states like Texas, which for its part is doubling down on its efforts to recruit businesses to the Lone Star State.

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