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Corporate Governance 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

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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

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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

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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

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

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

Cooley LLP

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

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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

Goodwin

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

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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

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

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

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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

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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?

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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

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

Mintz - Energy & Sustainability Viewpoints

Save the World, Reduce Your Cost of Capital: How Danone is Turning ESG Impact into Lower Borrowing Costs

The world is changing! Over the last several years, Environmental, Social and Governance (ESG) criteria have been an emerging focus in the investing world, primarily driven by equity investors where it can be harder for a...more

BCLP

Making a Difference (and a Profit): Advantages and Disadvantages of Forming or Converting into a “B” Entity

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With the creation of “B” Entities, businesses no longer need to choose between shareholder value and social impact. Under traditional corporate structures, directors have a fiduciary duty to maximize corporate profits and...more

Cooley LLP

Blog: So You Want to Be a “B Corp.” — What Does That Mean?

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Many of our clients approach us with some variation of “We want to be a B Corp.” What does that mean exactly? The term “B Corp” is often used interchangeably to refer to both benefit corporations and Certified B Corporations,...more

Cooley LLP

Blog: Delaware Public Benefit Corporation — Is It Right For You? A Five-Part Test

Cooley LLP on

If you’re an entrepreneur considering incorporating as or converting into a Delaware Public Benefit Corporation (PBC), the following five-part test may be helpful in determining whether it is the right choice of entity. ...more

Cooley LLP

Blog: What is a Benefit Corporation?

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Over the last several years, there has been a dramatic increase in entrepreneurs interested in using business to drive positive social change. While corporations retain substantial flexibility to pursue social and...more

Cooley LLP

Blog: Chief Justice Strine: In Praise Of B-Corps

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In an interesting article In the Harvard Business Law Review, Chief Justice Strine of the Delaware Supreme Court makes clear his view that the concept promoted by some academics and other commentators that corporate directors...more

Troutman Pepper

2013 Proposed Amendments To Delaware General Corporation Law

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On March 20, 2013, legislation proposing to amend the Delaware General Corporation Law, 8 Del. C. §§ 1-101, et. seq. (DGCL) was submitted to the Corporation Law Section of the Delaware State Bar Association. If the proposed...more

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