# kaal:claim:617681-021

**Claim.** The two sources that finance Delaware's bundled package, franchise taxes and legal fees for local counsel, might not be as lucrative for a European Member State, so the expensive package of statutes plus adjudication may have no viable funding model.

**Type.** failure  **Support.** argued

**Holds when.**

- European Member States with tax systems built around taxing operations within their borders

**Source quote.**

> Two of the most often mentioned sources for financing Delaware's bundled package in the United States, franchise taxes and legal fees for Delaware counsel, unfortunately might not be as lucrative for a European Member State.

**From.** Christian Kirchner, Richard W. Painter, Wulf A. Kaal, *Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro* (2004), D.I.4 Costs of Building a Judicial System for Export, page 27

**Cite as.** Christian Kirchner, Richard W. Painter, Wulf A. Kaal, Regulatory Competition in EU Corporate Law after Inspire Art Unbundling Delaware's Product for Euro (2004). SSRN: https://ssrn.com/abstract=617681

**Verify.** sha256 of source PDF `e142130507ea2f5b025fd97b3f762d44ee3a7aaa82b155aab63434b85e8fd834` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kirchner%20et%20al.%20-%202004%20-%20Regulatory%20Competition%20in%20EU%20Corporate%20Law%20after%20Inspire%20Art%20Unbundling%20Delaware%27s%20Product%20for%20Euro.pdf

**Failure mode.** missing-revenue-model  (family: cold-start-and-bootstrapping)

**Topics.** law-and-legal-systems

**Keywords.** franchise-tax, legal-fees, financing, bundled-product

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