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Extraterritorial Courts For Corporate Law, Henry Hansmann, Jens Dammann Aug 2005

Extraterritorial Courts For Corporate Law, Henry Hansmann, Jens Dammann

Faculty Scholarship Series

A central goal in devising a system of courts is to make judicial services easily accessible. As a consequence, justice is usually administered in a geographically decentralized fashion: trial courts are distributed across the territory in which the jurisdiction’s law is applied. Corporate law, however, does not fit this pattern: courts are often located far away from the companies subject to their jurisdiction. In particular, Delaware law governs most publicly-traded firms in the U.S., and is now extending its reach to encompass corporations headquartered around the globe. But Delaware courts are located only in Delaware. Consequently, there is ...