Editor’s note: This is the first in a two-part series.

Delaware touts its status as “first” or “best” in many categories, and rightfully so. Not only was it the first state to ratify the U.S. Constitution, Delaware is the home to a majority of Fortune 500 companies and a renowned judiciary. The Delaware General Corporation Law serves as a model for the rest of the country and Delaware’s Court of Chancery is considered the premier business court in the land.