The court is known for being a hub for corporate governance litigation in the United States, as two-thirds of Fortune 500 companies are incorporated in Delaware.

[1] Many companies prefer to incorporate in Delaware because of the state's corporate-friendly tax system and the Court's historical expertise in business litigation.

The Court's judges tend to be longtime members of the Delaware State Bar Association who have spent their careers doing corporate litigation.

[2] Because of the extensive experience of the Delaware courts, Delaware has a more well-developed body of case law than other states, which serves to give corporations and their counsel greater guidance on matters of corporate governance and transaction liability issues.

According to the Delaware Judicial Information Center: The Court of Chancery has jurisdiction to hear and determine all matters and causes in equity.

"[7] Title 10, Section 341 of the Delaware Code states that the Court "shall have jurisdiction to hear and determine all matters and causes in equity.

[citation needed] The Court's most significant power is its ability to issue preliminary and permanent injunctions and temporary restraining orders.

In a typical sale or merger dispute, a plaintiff will seek a temporary restraining order, sometimes on an ex parte basis, to prevent the transaction from taking place and preserve the status quo.

If the Court grants that relief, the plaintiff will then seek a preliminary injunction to maintain the current state of affairs until a trial can take place.

First, the Court has sole power to appoint guardians of the property and person for mentally or physically disabled Delaware residents.

The Court has the discretion to appoint an advisory jury if it so desires, but this power is practically never exercised.

Along with the remainder of the original Thirteen Colonies, Delaware imported the English concept of common law.

This was prompted in part by similar reforms which had taken place elsewhere, notably the abolition of the New York Court of Chancery in 1847.

The Magistrates adjudicate cases assigned to them by the Court, with a particular focus on "the people's concerns in equity," such as guardianships, property disputes, and trust and estate matters.