Regulatory Competition Puzzle : The US Design

This paper puts together the pieces of the puzzle of the ongoing regulatory competition debate on corporate law in the US. At early stages of this process Delaware conquered the leader’s place replacing Jersey, and forever locked-in there through peculiar manners. The States take as granted the hierarchy in these chartermongering activities with Delaware on the top, and it seems they hardly believe that one is able to change the system. The developments in this system are evolutionary, rather then revolutionary: there are no nasty attempts and shocks to change the rules of the game of the “unwritten but accepted hierarchy”. Instead, there is a kind of evolutionary adaptation to the here-there (but mainly in Delaware) appearing changes and it looks as if the system is to live its years unbothered