Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Anonymous Companies, William J. Moon
Anonymous Companies, William J. Moon
Faculty Scholarship
Hardly a day goes by without hearing about nefarious activities facilitated by anonymous “shell” companies. Often described as menaces to the financial system, the creation of business entities with no real operations in sun-drenched offshore jurisdictions offering “zero percent” tax rates remains in vogue among business titans, pop stars, multimillionaires, and royals. The trending headlines and academic accounts, however, have paid insufficient attention to the legal uses of anonymous companies that are both ubiquitous and almost infinite in their variations.
This Article identifies privacy as a functional feature of modern business entities by documenting the hidden virtues of anonymous companies—business …
Delaware's Dominance, Wyoming's Dare: New Challenge, Same Outcome?, Pierluigi Matera
Delaware's Dominance, Wyoming's Dare: New Challenge, Same Outcome?, Pierluigi Matera
Faculty Scholarship
Despite increasing criticism, Delaware's dominance in corporate law has not experienced a significant decline: as of today, 67.8 percent of Fortune 500 companies are still incorporated in its jurisdiction. Nevada is known as Delaware's most important competitor, with an aggressive strategy that has overridden the efforts of any other jurisdiction. Yet, its success has been limited to a specific market segment: small firms with low institutional shareholding and high insider ownership.
Scholars suggest several explanations for both the rise and the staying power of Delaware. These explanations are essentially subsumed under the credible commitment theory and the network theory. According …