Delaware Corporation

In keeping with Delaware's generally boring reputation, this definition is generally boring...but with a slight twist.

In a very broad sense, a Delaware Corporation is just a corporation from Delaware. Just like a Delaware Person would be a person from Delaware (hat tip to former Vice President Joe Biden and 1970s sitcom star Valerie Bertinelli). That's the boring part.

Now for the twist: lots of companies end up Delaware Corporations (while relatively few people you'd recognize end up Delaware People). Even companies that otherwise have nothing to do with Delaware.

The state has a number of laws favorable to business. But none of its rules restrict these companies from operating outside the state, even as none of its operations actually take place in Delaware. So a lot of companies that have nothing to do with Delaware otherwise end up registered in Delaware as a Delaware corporation.

The catch: either Joe Biden or Valerie Bertinelli have to be on the company's board.