Delaware Discord Drives States to Grow Their Own Business Courts

Capitalizing on "DExit" drama, Iowa and other states are working to raise their profiles as desirable litigation venues for companies questioning whether Delaware is still the default corporate domicile.

Iowa's business court becomes a stand-alone entity on Sept. 1 with two full-time judges. Sen. Mike Bousselot (R) made his state's ambitions clear in floor remarks before a final vote in May approving the tribunal's creation (S.F. 639).

Iowa has business-friendly tax codes and modernized corporate laws, "and we also know that many companies are seeking to exit Delaware and looking for new places of incorporation," the lawmaker said. ...