From Fortune:

Neuralink Corp. moved its business incorporation from Delaware to Nevada, following legal setbacks suffered by Elon Musk in Delaware. A Delaware judge recently struck down Musk’s $55 billion Tesla Inc. pay package. The move involves transferring shares from the Delaware corporation to the Nevada corporation. Neuralink Lawyer declined to comment on the move.

Neuralink, the brain implant company owned by Elon Musk, recently implanted a device in a human patient for the first time. The startup aims to help people with traumatic injuries operate computers using only their thoughts. Musk has said the device will eventually give people “control of your phone or computer, and through them almost any device, just by thinking.”

Musk previously moved the incorporation of X (Twitter) from Delaware to Nevada. Tesla, headquartered in Austin, was incorporated in Delaware in 2003. Musk has vowed to try to shift Tesla’s incorporation from Delaware to Texas, which would require a shareholder vote.

Delaware is known as the country’s incorporation capital, but Musk has a history of legal disputes there. Two years ago, a Delaware judge rebuffed an investor suit challenging Musk’s $2.6 billion acquisition of SolarCity. Later, Musk had setbacks when he tried to back out of his bid to buy the social media platform once known as Twitter. He was repeatedly dealt setbacks in pretrial rulings by a Delaware judge.



Read more: Elon Musk’s Neuralink reincorporates outside Delaware