Sin City does, too
of the 20th century the prime state to register businesses in America was New Jersey, home to America’s biggest trusts such as Standard Oil. Other states, including its diminutive next-door neighbour, coveted the spigot of easy money that came from business incorporation.
Las Vegas’s business courts are a far cry from Wilmington’s Court of Chancery. They are in the general courthouse, so you are checked for weapons before you enter. Their location on the 16th floor provides a sense of being high above the hurly-burly. Yet the first case Schumpeter heard was down to earth, concerning mould in a rental property. A paper on the desk of Mark Denton, the judge in that case, is a reminder of the state’s long battle to be taken seriously.
Now is one of those rare times. A flurry of rulings has been a cause for disquiet. The most prominent critic has been Mr Musk, who attacked Delaware in January after the Court of Chancery voided his $56bn pay package as boss of Tesla. In response, he reincorporated Neuralink, his brain-implant firm, in Nevada, and has filed to move SpaceX, his rocketry business, to Texas.
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