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Volume XII, Number 183

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Wyoming vs. Delaware

In 1869, Wyoming became the first state to extend voting rights to women.  In 1977, Wyoming became the first state to enact a law allowing for the formation of a business entity known as a "limited liability company".  Now, one academic is predicting that Wyoming will challenge Delaware's domination of the market for corporate charters:

Wyoming is attempting to exploit the opportunities provided by blockchain to attract incorporators. In particular, this jurisdiction is creating a safe harbor for a specific segment of the market that involves the incorporations of digital asset businesses and is introducing custom made provisions or exemptions in multiple fields of regulation— including state securities laws

Pierluigi Matera, Delaware’s Dominance, Wyoming’s Dare: New Challenge, Same Outcome?, 27 Fordham J. Corp. & Fin. L. 73 (2022).  

Time will, of course, tell whether Wyoming's latest innovation will succeed.  More than a decade after Wyoming enacted its limited liability company law, I was questioning whether California would ever follow suit.  See Bishop & Rizzi, "Are Limited Liability Companies Coming to California?" 13 CEB California Business Law Reporter 135 (Dec. 1991).   

© 2010-2022 Allen Matkins Leck Gamble Mallory & Natsis LLP National Law Review, Volume XII, Number 147
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About this Author

Keith Paul Bishop, Corporate Transactions Lawyer, finance securities attorney, Allen Matkins Law Firm
Partner

Keith Bishop works with privately held and publicly traded companies on federal and state corporate and securities transactions, compliance, and governance matters. He is highly-regarded for his in-depth knowledge of the distinctive corporate and regulatory requirements faced by corporations in the state of California.

While many law firms have a great deal of expertise in federal or Delaware corporate law, Keith’s specific focus on California corporate and securities law is uncommon. A former California state regulator of securities and financial institutions, Keith has decades of...

949-851-5428
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