Leave Delaware(@LeaveDelaware):🚨 NEW: Cooley says 50+ public companies have reincorporated out of Delaware in the last two years … while Delaware’s share of the IPO market fell from 81% in 2024 to “nearly 70%” in 2025. (CapitalXchange) The firm’s new guide for founder-led tech companies says the incorporation decision is no longer a routine default. Delaware, Nevada and Texas now present materially different governance choices, and Cooley says Delaware still carries greater fiduciary-duty litigation risk than either Nevada or Texas. (CapitalXchange) That is a major shift in how one of Silicon Valley’s core legal questions is being framed: where you incorporate is becoming a strategic decision for founders, not paperwork.

2026.08.14 10:50

🚨 NEW: Cooley says 50+ public companies have reincorporated out of Delaware in the last two years … while Delaware’s share of the IPO market fell from 81% in 2024 to “nearly 70%” in 2025. (CapitalXchange) The firm’s new guide for founder-led tech companies says the incorporation decision is no longer a routine default. Delaware, Nevada and Texas now present materially different governance choices, and Cooley says Delaware still carries greater fiduciary-duty litigation risk than either Nevada or Texas. (CapitalXchange) That is a major shift in how one of Silicon Valley’s core legal questions is being framed: where you incorporate is becoming a strategic decision for founders, not paperwork.

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