Elon Musk Isn’t the Only Billionaire Fighting Delaware
The Wall Street Journal, February 11, 2024
- What happened: The Texas business court continues to get national attention thanks to Elon Musk’s comments about moving Tesla’s incorporation from Delaware to the Lone Star State.
- Tell me more: Texas is home to 54 Fortune 500 company headquarters. We are the eighth largest economy in the world, and the nation’s job creation engine. This robust business community deserves a court system that allows them to litigate matters here, rather than Delaware or New York, or even opting for closed-door arbitration.
- Looking ahead: This September, Texas’ new specialized business courts–a significant investment in economic development that will allow companies to effectively resolve complex disputes–will become operational in major metropolitan areas statewide.
- The business court will also relieve pressure on our general jurisdiction courts by diverting lengthy and complicated business cases, freeing up judges’ dockets so they can efficiently handle other types of cases. Catch-up in the TLR Advocate
- TLR Thoughts: While many states have established business courts, Texas’ strong economic environment—with low taxes, smart regulations and a fair and efficient legal system—is what truly sets it apart from the rest. The business court is a new and critical tool to help Texas compete for more jobs and economic growth.
Read the full article here.
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