"Statutory changes are necessary to restore the core principles that have been the hallmark of Delaware for over a century and ensure that Delaware remains the preeminent jurisdiction for incorporation," Lisa Schmidt, president of RLF, said in a statement.
A spokesperson for the law firm said RLF's role in the legislation draft was not done on behalf of any specific client.
The bill was introduced in the Delaware General Assembly on Monday and would require approval by the state's two chambers as well as Gov. Matt Meyer before it could become law.