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They say their doing this to save money on cooling and property taxes, which is all well and good, but I'm sure that's not why they're really doing it...

If they're offshore, they don't have any countries laws to follow.

Admiralty Law

International Waters

Don't know if these links are the right ones to show what I'm referring, but somebody else maybe able to shed a little more light?
 
Sounds like the first step in Google seceding from the US.
 
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