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Delaware General Corporation Law (DGCL)
Practical Law Glossary Item 8-382-3393 (Approx. 2 pages)
Glossary
Delaware General Corporation Law (DGCL)
Delaware statutes governing corporations found in Chapter One of Title 8 of the Delaware Code. It provides, among other things, laws relating to the formation, management, governance, mergers, and dissolution of Delaware corporations. Delaware is a common state for incorporation for a variety of reasons such as:
- Ease of filing and online services.
- Lower franchise taxes.
- Well-developed body of corporate law and a highly respected judiciary.
- Business-friendly statutes and decisions.