Doing Good While Doing Well — Delaware Is the 19th State to Adopt Public Benefit Corporation Law

A new Delaware law authorizing the creation of public benefit corporations (“PBCs”) in Delaware becomes effective on August 1, 2013. PBCs are a new type of socially conscious for profit corporation intended to operate in a responsible and sustainable manner. While PBCs operate on a for profit basis and pay income taxes, they are unique in that they are managed in a manner that balances the pecuniary interests of its stockholders with persons, entities or communities that are materially affected by the corporation’s conduct. Delaware is the 19th state to adopt such legislation.

Businesses that elect public benefit corporation status in Delaware will receive the stability, efficiency and predictability of Delaware law, as well as a way to differentiate their business and transparently report on their social and environmental performance.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

more+
less-

Schnader Harrison Segal & Lewis LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×
Loading...
×
×