Delaware Toys with LLC Run by AI, GPP Surveys Readers on Use of AI in Investor Relations, and Our Interns Detail Last Supper

Jul 31, 2026

Who needs the C-Suite when you can hire a C-Bot. Delaware is considering potential new legislation that would give autonomous software its own corporate form: a legal entity not run by a board of people, but by an AI agent.

In a recent Fortune op-ed, the bill’s co-sponsors, Charuni Patibanda-Sanchez (Delaware Secretary of State) and John Nay (founder and CEO of Norm AI), make the case for creating the Artificial Intelligence Company (AIC).

Their basic question, “what happens when autonomous software begins contracting, paying suppliers and transacting without a human at the helm?” Their answer is not to ban it, but to give the AIC a recognizable legal identity so it can be tracked and held accountable.

The draft bill would authorize a 30-month “sandbox” period starting next year to launch a public-private partnership AIC that would be managed day-to-day by an AI agent that could sue, hold property and sign contracts in its own name. A single member (person or corporate entity) would oversee the AIC and be responsible for keeping it funded, and would be protected from debts unless in case of fraud or a willful violation of law.

A committee of Delaware officials, including the Secretary of State, Attorney General, Delaware Supreme Court Justice and outside experts would be able to suspend the AIC, revoke authorization or ask the Court of Chancery to dissolve it. Each program would “sunset” after 30 months, leaving the General Assembly a full record for deciding future legislation.

Not all governance experts are convinced. Here are a few reactions law professors gave to Bloomberg:

Andrew Baker (UC Berkeley Law): “[The proposal] has very real risk. We are nowhere near not having a person in the loop… Imagine that a bajillion AI companies get created that are all liability shields… That’s a bad way to make corporate law.”
Peter Salib (University of Houston Law): “[The AIC] is a way of getting law and liability aimed more squarely at these AI agents to shape their behavior… If someone has to go first, of course it’s going to be Delaware.”
David Hoffman (UPenn Law): “I’m not some technophobe, but this particular idea seems like a solution in search of a problem. I don’t think this gives you anything you can’t do with regular corporate law. I would see this as outsourcing liability.”
Christopher Bruner (University of Georgia Law): “AI isn’t the square peg it’s made out to be… There are well-established fiduciary doctrines that prevent boards from delegating the most important decisions to some other kind of entity.”

Speaking of AI, we need help from our readers! We are keenly aware that it remains a hot topic across offices from law and finance to communications and, importantly, investor relations. GPP would appreciate perspectives from our readers on the impact of AI on investor relations via this quick (we promise!) pulse survey: https://www.surveymonkey.com/r/W8XG5DV

Have a great weekend,

GPP Team

ACTIVISM

The Deal: Ashland Settles With Ancora, Adds Directors
The Delaware-based chemical manufacturer announced it had reached an agreement with Ancora Holdings to add two mutually-agreed upon directors to the company’s Board, as well as form a new capital allocation committee to help oversee its dividend policy going forward. Read More

M&A

Reuters: Brown-Forman Board Says Sazerac Unsolicited Bid Not Actionable
Abigail Summerville writes that the board of Brown Forman, rejected another unsolicited $32/share bid from Sazerac, which valued the Jack Daniel’s whiskey maker at $15 billion. The news comes only a few months after Brown Forman rebuffed Sazerac’s first takeover approach in April. Read More

Financial Times: Grant Thornton seals accounting sector’s largest takeover in a generation
The accounting firm, Grant Thorton, revealed it had reached an agreement this week to acquire CBIZ, the eight largest accounting firm in the U.S., in a $5 billion, all-cash deal, which is set to become the largest M&A deal in the space since 1998, writes Stephen Foley. Read More

Reuters Breakingviews: Why hostile M&A is Rare – Especially in the UK
Liam Proud attempts to pinpoint potential factors driving the “particularly stark” decline in the number of attempted takeover bids of British firms, including regulatory policies which has resulted in deals involving U.K. targets increasingly requiring “giant takeover premiums”, giving their Boards considerable leverage. Read More

CORPORATE GOVERNANCE

Drinks with The Deal: Salesforce’s Niles on AI, Future of Legal Services
Salesforce President and Chief Legal Officer, Sebastian Niles joins David Marcus to discuss Salesforce’s efforts to build trustworthy AI-agents that will help improve productivity and decision making for legal advisors, as well as give them more time to build interpersonal relationships with clients. Listen Here

ESG Dive: AI governance growing in importance for investors: Diligent Market Intelligence
Diligent’s Josh Black joins ESG Dive for an extended conversation on how shareholder activism and the types of proxy proposals put forward by investors have evolved over the last two years, including how activist firms are starting to push companies that stand to benefit from incorporating AI into their operations. Read More

University of Oxford Business Law Blog: The Rise of Relational Economic Sovereignty: How FDI Screening Is Transforming Corporate Governance
Libra Legal Partners’ Pierluigi Matera and Ferruccio Sbarbaro discuss their recent paper which argues that existing foreign direct investment screening policies have evolved from their main historical use as tools for protecting national security, into tactics foreign states use today to increasingly exert pressure on corporations. Read More

Stanford Business: When Directors Need Direction Whom Do Board Members Go to For Advice?
Stanford Professors David F. Larcker, Stephen A. Miles, Amit Seru and Brian Tayan highlight results from a recent survey revealing that only a small subset of board directors rely on paid coaching to become better directors. They argue that many companies and directors stand to benefit from more regimented training. Read More

IPO

The Wall Street Journal: How Blackstone Put Jersey Mike’s on a Fast Track to This Week’s IPO
Mark Maurer and Heather Haddon offer a behind-the-scenes look at how Blackstone acquired a majority stake in the fan favorite sandwich maker and managed to bring the company public in only 18-months. Read More

CNBC: Squawk on the Street: SEC Chairman Paul Atkins: Public Markets Should Grow in Size and Breadth
Sara Eisen is joined by the head of the SEC for his opinions on the IPO market, including the outlook for potential listings in the second half of the year, and makes an open call for more private firms to continue seeking public offerings. Watch Here

OUR INTERNS LAST HURRAH (FOR NOW😊): FROM OUR DESK TO YOURS

After a summer of rave restaurant reviews, GPP’s summer interns decided the perfect way to celebrate the end of their internship was with one last dinner. They braved a dreary Tuesday evening—a Mets outing was rained out– to check out a new spot in our backyard: Golden Hof.

Following Sam Yoo’s success at Golden Diner, he has expanded his ambitions to revamp his parents’ restaurant, New York Kimchi, across from Rockefeller Center. In Korea, “hofs” are pubs where people gather to unwind after a day at the office, and Golden Hof is Yoo’s reimagination of what one of these spots would look like in the heart of Midtown.

From the ssamjang Caesar salad to the Busan lobster roll, the menu features an inventive combination of Korean and American comfort classics. After some deliberation, we kicked off the final feast with the sesame brussels sprouts. The dish might sound simple, but it delivered a satisfying crispy scallion crunch balanced by a tangy aioli. For main courses, we shared the Hof Bibimbap, Rose Rigiatoni and a Golden Cheeseburger. The overwhelming favorite was the rigatoni, its house-made pasta tossed in a creamy sauce with sweet and spicy gochujang garlic. The other entrees are not to be missed though, the Bibimbap was the perfect for the rainy-day blues, and you can never go wrong with a burger at a pub.

Of course, no meal is complete without something sweet, and the Honey Butter pancakes, a mini version of the ones foodies line up for at Golden Diner, were an easy choice. We can confirm they lived up to expectations: crispy at the edges, hot off the griddle in the middle finished with a generous glob of honey butter and citrusy syrup.

Fittingly, the dinner ended the same way the internship did: Sweet, satisfying, and gone too soon. And while summer may be ending, between the lessons learned and connections made, we are thankful to return to college with far more than just full stomachs.