TripAdvisor Corporate Relocation Case Hinges on Delaware’s Value

TripAdvisor Inc. insiders defending its relocation to Nevada appeared to gain an edge in court Wednesday by stressing the problems with assigning a dollar value to the benefits provided by Delaware’s robust corporate laws.

Several members of Delaware’s top court voiced doubts about a ruling earlier in the year that said the travel company’s controlling stockholder, Greg Maffei, would be liable to shareholders if its shift to Nevada reduced corporate value. The decision allowed the reincorporation—assuaging concerns about Delaware as a “Hotel California” that it’s impossible to leave—but held open the possibility of money damages.

Maffei’s appeal involves the ...