Delaware has historically been a leading state for corporate incorporation, but recent events, particularly Elon Musk's shift of Tesla and SpaceX to Texas, have sparked concern among lawmakers. A unanimous bill to reform corporate law structures aims to reinforce Delaware's attractiveness to businesses, ensuring they remain competitive in the changing landscape. Governor Matt Meyer expresses the state's commitment to maintaining its corporate identity and luring back any companies that consider leaving. This legislation seeks to create protective measures for businesses against relocation threats.
We don't want there to be no guardrails - that's why we're putting this legislation in place to maintain Delaware's competitive edge.
Musk's decision to move Tesla and SpaceX has prompted Delaware lawmakers to take action and reinforce the state's appeal for corporations.
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