History
See also: Regulatory competition and Race to the bottomDelaware acquired its status as a corporate haven in the early 20th century. Following the example of New Jersey, which enacted corporate-friendly laws at the end of the 19th century to attract businesses from New York, Delaware played the game of fiscal competition by adopting in 1899 a general incorporation act aimed at attracting more businesses. Before the rise of general incorporation acts, forming a corporation required a special act of the state legislature. General incorporation allowed anyone to form a corporation by simply raising money and filing articles of incorporation with the state government's secretary of state.
Read more about this topic: Delaware General Corporation Law
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“Bias, point of view, fury—are they ... so dangerous and must they be ironed out of history, the hills flattened and the contours leveled? The professors talk ... about passion and point of view in history as a Calvinist talks about sin in the bedroom.”
—Catherine Drinker Bowen (1897–1973)
“In nature, all is useful, all is beautiful. It is therefore beautiful, because it is alive, moving, reproductive; it is therefore useful, because it is symmetrical and fair. Beauty will not come at the call of a legislature, nor will it repeat in England or America its history in Greece. It will come, as always, unannounced, and spring up between the feet of brave and earnest men.”
—Ralph Waldo Emerson (1803–1882)