On December 5th 2012, the Journal of Business and Intellectual Property Law and the Corporate Governance Law and Theory class sponsored a school visit by Justice Randy Holland of the Delaware Supreme Court. Justice Holland is the youngest person to serve on the Delaware Supreme Court and was appointed to the court in 1986. In March 2011, Justice Holland was reappointed by Delaware Governor Jack Markell and unanimously confirmed by the Senate for an unprecedented third twelve-year term. Justice Holland is the national president of the American Inns of Court Foundation and has won numerous awards, including the 2009 James Wilson Award from the University of Pennsylvania School of Law and the 2011 Dwight D. Opperman Award for Judicial Excellence. In addition to his time spent serving on the Delaware Supreme Court, Justice Holland serves as a legal ambassador for Delaware and the United States to other countries as they try to create or improve their corporate laws.
A native of Milford, Delaware, Justice Holland began his presentation with a short background of Delaware corporate law, touching on how Delaware gained such strong momentum and became so influential for other states. During his presentation, Justice Holland described the shareholder- and director-balanced approach that Delaware law has sought to achieve. He addressed the responsibility he feels the Delaware Supreme Court has in exercising, in effect, nationwide jurisdiction in corporate law matters as parties “forum shop” to make Delaware law applicable.
Justice Holland further stressed the importance of building relationships with other countries to help those countries build their own set of corporate laws. Understanding how the world is becoming global in nature, Justice Holland has been instrumental in helping countries like Taiwan and Qatar establish their own corporate code. Justice Holland used his relationship with Taiwan as an example of how different legal bodies can work together to create a cohesive and beneficial set of laws and goals. Taiwanese individuals approached Justice Holland with the intent to set up a commercial court system in the quest to become the financial center of the Southeast. Justice Holland described how his commercial expertise prepared him to provide predictable and efficient results to Taiwan. In his opinion, Delaware is in the unique position to have influential discussions with other countries regarding the future of corporate and commercial law.
Finally, when asked for his opinion on the reciprocal nature of the Delaware Bar and the likelihood that it will change, Justice Holland stressed the importance of upholding the “Delaware Lawyer” concept. Justice Holland underscored the importance of the chivalry and reputation of the Delaware Bar for the furtherance of the Delaware brand of law. He believes that Delaware will not change its stance on its exclusion of lawyers who have not taken the Delaware Bar. The reputation of the Delaware lawyer has, to Justice Holland, added to the success of the Delaware court system and has improved the Delaware corporate law brand.
Justice Holland’s visit was truly a valuable event for the Wake Forest Law School community. His carefully considered, yet completely candid remarks undoubtedly left an impression on every person who attended his talk. The information he provided that day- from Delaware’s international corporate law presence to the reciprocity of Delaware’s Bar license – aids every student listening as they enter the current global marketplace.
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* Allison McCowan is a third-year student at Wake Forest University School of Law and is President of the Domestic Violence Advocacy Committee. She holds a Bachelor of Arts in Psychology from Norwich University. Upon graduation in May 2013, Ms. McCowan intends to practice corporate law, commercial law, or alternative entity law in either Delaware or Washington D.C.