Delaware's Frontier

13 Pages Posted: 12 Dec 2022

See all articles by Matthew Jennejohn

Matthew Jennejohn

Brigham Young University - J. Reuben Clark Law School

D. Gordon Smith

Brigham Young University - J. Reuben Clark Law School

Date Written: December 8, 2022

Abstract

This essay, prepared for a symposium honoring Chief Justice Leo Strine, explores how institutional capacity limits the Delaware courts’ role in the U.S. economy. A decision theoretic approach is employed to delineate the boundaries of that role, with particular attention paid to recent arguments that Delaware's Caremark doctrine should be extended to ESG concerns. The essay views muscular expansion of Caremark to encompass stakeholder interests as misguided without significant investments in institutional capacity.

Keywords: Delware courts, U.S. economy, corporate law, business law, litigation, private ordering, uncertainty

Suggested Citation

Jennejohn, Matthew and Smith, D. Gordon, Delaware's Frontier (December 8, 2022). 24 University of Pennsylvania Journal of Business Law 791 (2022), BYU Law Research Paper No. 22-27, Available at SSRN: https://ssrn.com/abstract=4297530

Matthew Jennejohn (Contact Author)

Brigham Young University - J. Reuben Clark Law School ( email )

436 JRCB
Brigham Young University
Provo, UT 84602
United States
9175093028 (Phone)

D. Gordon Smith

Brigham Young University - J. Reuben Clark Law School ( email )

422 JRCB
Provo, UT 84602
United States
801.422.3233 (Phone)
801.422.0390 (Fax)

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