We are thrilled to have the Chancellor William Chandler of the Delaware Chancery Court teaching a short course on Advanced Corporations here at Georgia Law. The Chancellor graciously agreed to talk to my Corporations class yesterday.

The Chancellor focused on how Delaware ended up with its unique court of Chancery and its special place in corporate law. Some highlights:

“The Chancery Court says to corporate directors, ‘Do what you want. As long as you don’t violate positive law, and work honestly and in good faith in the best interests of the corporation.’”

“I don’t think about competing for franchise fees when I do my job. I try to be faithful and true to Delaware corporate law.”

“We have 60% of Fortune 500 corporations incorporated in Delaware. 50% of NYSE and NASDAQ companies. Big companies like Lehman Brothers and AIG.”

Thanks for a rare treat, Chancellor Chandler.

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