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Benefit Corporations

Royer Cooper Cohen Braunfeld LLC

To “B” or Not to “B” a Benefit Corporation *

As counsel for many socially-conscious businesses, perhaps the most frequent early-stage question we field from entrepreneurs is whether they should organize their business as a traditional business entity (such as a...more

Allen Matkins

Articles Of Incorporation Doom Representational Standing

Allen Matkins on

The Short Term Rental Alliance of San Diego is an advocacy and education organization whose members include landlords and hosts with at least one single-family short-term rental property located in the “San Diego Coastal...more

Robins Kaplan LLP

The ABCs of PBCs: How This Relatively New Corporate Form Mandates a Broader View of Business

Robins Kaplan LLP on

Socially beneficial causes now play a large role in consumers’ and employees’ decision-making. A recent survey from 2021 shows that 44% of millennials and 49% of Gen Zers reported making choices about the type of work they...more

Morrison & Foerster LLP

Unique Considerations for Lending to a Delaware Public Benefit Corporation

In 2013, following in the footsteps of California, Delaware introduced a new corporate form that could be chosen by companies organized under its state law – the public benefit corporation (PBC). This type of corporation is...more

Wilson Sonsini Goodrich & Rosati

Converting to a Delaware Public Benefit Corporation: Lessons from Experience

The past two years have seen a dramatic shift in practice relating to the Delaware public benefit corporation (the PBC)—a corporate form that requires the board of directors to balance stockholders' monetary interests, the...more

Holland & Knight LLP

Sociedades de Beneficio e Interés Colectivo (BIC) en Colombia

Holland & Knight LLP on

La Ley 1901 de 2018 de Colombia consagra la posibilidad de que aquellas sociedades que además del beneficio e interés de sus accionistas, actúen en procura del interés de la colectividad y del medio ambiente, adopten la...more

White & Case LLP

Opportunities and Risks For Benefit Corporations in US Trade Proceedings

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Due to their unique operating principles, stakeholder-capitalism businesses and benefit corporations can face different challenges and opportunities under various areas of US law that regulate competition. In...more

Vicente LLP

[Webinar] Impact and ESG in the Cannabis Industry

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From investors and government officials to prospective employees and shareholders, the rapidly increasing focus on Environmental, Social, and Governance (ESG) practices is changing how businesses approach sustainability,...more

Blake, Cassels & Graydon LLP

Bill 797: Are Benefit Corporations Coming Soon to Quebec?

On May 26, 2021, Bill 797, An Act to amend the Business Corporations Act to include benefit corporations (Bill 797), was tabled before Quebec’s National Assembly by opposition member Carlos J. Leitão. If adopted, Bill...more

Saul Ewing LLP

Early Advocates of Organic Food Products, Amy’s Kitchen Believes in the Benefits of a Fully Regenerative Ecosystem and Aims to...

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In this episode, host Jonathan Havens, co-chair of Saul Ewing Arnstein & Lehr’s Food, Beverage and Agribusiness (FBA) Practice, speaks with Paul Schiefer, senior director of sustainability at Amy’s Kitchen, which started in a...more

Kilpatrick

KEY TAKEAWAYS - Corporations v. “B Corps:” What Are They and Why Do They Matter?

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Benefit Corporations, Certified B-Corps™ and similar social purpose entities are gaining traction, especially with Generation Z aging into the prime consumer and investor generation. Still, there is confusion around what...more

Cooley LLP

Blog: In a first, a traditional corporation converts to a PBC—will it spark a trend?

Cooley LLP on

For several years, we’ve witnessed a fierce debate regarding the extent to which, in making decisions, boards of traditional corporations may take into account constituencies or stakeholders other than shareholders, such as...more

Bowditch & Dewey

To B, or Not to B: Redemption Rock Becomes the 1st Massachusetts Certified B Corp Brewery

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Although Redemption Rock Brewing Co. in Worcester has demonstrated an unwavering dedication to producing first-rate beers and a top-flight taproom experience, it recently announced that it was willing to settle for a B. After...more

Benesch

Ohio Creates New For-Profit Benefit Corporation

Benesch on

A new law passed in Ohio that will create a “For-Profit Benefit Corporation” designation in Ohio. Senate Bill 21 amends Ohio Corporation law, as contained in ORC §1701, providing for a new form of for-profit corporation, a...more

Goodwin

New Amendment to Delaware General Corporation Law Solidifies Delaware’s Status as Welcoming of Benefit Corporations

Goodwin on

Since the 2013 adoption of a new subchapter to the Delaware General Corporation Law, which provided corporate entities the ability to be formed as, or convert into, a public benefit corporation, Delaware has been an...more

Wilson Sonsini Goodrich & Rosati

2020 Delaware Statutory Amendments Reduce Barriers to Becoming a Public Benefit Corporation

Acting in virtual sessions in June 2020, Delaware's General Assembly approved a set of amendments to the Delaware General Corporation Law (DGCL) proposed by the state's bar association, which the governor subsequently signed...more

Bennett Jones LLP

British Columbia Introduces Benefit Companies

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On June 30, 2020, British Columbia became the first Canadian jurisdiction to allow for the establishment of "benefit companies" by introducing amendments to the Business Corporations Act (British Columbia)....more

Pillsbury Winthrop Shaw Pittman LLP

Benefit Corporations and B Corps Among Options For Startups Seeking To Do Good

Added legal protection and potential marketing benefits make benefit corporations and B Corps a great fit for certain entrepreneurs and industries. But interested parties should carefully consider all details before jumping...more

The Rodman Law Group, LLC

Entity Selection for New Businesses

When you are thinking of starting a new business, the options for entity structures can seem endless and confusing. The following guide can be used to help you understand the basics and begin to narrow down the options in...more

Foley & Lardner LLP

The Purpose of a Corporation

Foley & Lardner LLP on

In 1932, Adolf Berle and Gardiner Means introduced the then-radical thesis that corporations are accountable not only to their stockholders, but also to other “stakeholders” such as customers, employees, suppliers and the...more

McDermott Will & Emery

Corporate Law & Governance Update - November 2019

McDermott Will & Emery on

LAWYER SPOTLIGHT ON CORPORATE PURPOSE - Board and executive leadership of large nonprofit health systems should note evolving trends concerning corporate social responsibility (CSR), corporate purpose and corporate...more

Verrill

Is a Benefit Corporation Right for You?

Verrill on

The “benefit corporation” is a relatively new type of business entity. In 2010, Maryland became the first state in the U.S. to enact a statute recognizing and providing for the organization of this form of entity. In...more

MoFo Impact

Impact Links: Newly launched IRIS+ tool; OK passes benefit corporation legislation; Ocean Spray sustainability commitment; New...

MoFo Impact on

The Global Impact Investing Network launched IRIS+, a new tool for investors to measure, manage, and optimize the impact of their investments. The tool allows investors to identify evidence-based metrics relevant to impact...more

Mintz - Energy & Sustainability Viewpoints

The Impact Terms Project: Defining the Standard for Impact

The Impact Terms Project (“ITP”) was launched as a platform intended to provide guidance on best practices to entrepreneurs, investors and other stakeholders in the rapidly-evolving social enterprise space. To this end, the...more

Mintz Edge

Liability Considerations for Delaware Public Benefit Corporations

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What is a Public Benefit Corporation? A public benefit corporation (PBC) is a statutorily designated type of corporation in Delaware that melds two concepts that are often seen as opposites: maximizing profit and providing...more

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