North Dakota Competes for Delaware's Corporate Business
Prof. Larry Ribstein provides scholarly analysis here on the Harvard Corporate Governance Blog about the new North Dakota Publicly Traded Corporation Act which is seen as an attempt to take "corporate business" away from Delaware, with provisions that read like a wish list for supporters of more shareholders' rights. The good professor describes the Act in detail, including an explanation of why it might be hard with one statute to duplicate the 200 years of Delaware case law as well as to duplicate overnight Delaware's experienced judiciary and experienced corporate bar.
UPDATE: Prof. Larry Hamermesh adds his analysis here.
