ESG is an acronym and importantly a movement with a viewpoint. It is also an evolving concept which uses the first letters of three words as its name. Those words are Environmental, Social and Governance. ESG is a concept...more
When forming your LLC, you may wonder the importance of specifying your company’s “purpose,” and may be tempted to provide a hasty response or use a generic phrase such as “any purpose authorized by law.” The reason defining...more
Recently a definition of corporate purpose has been proposed and elaborated on in a memorandum captioned “On the Purpose of the Corporation” (the Corporate Purpose Memo)....more
The nationwide landscape of statutes and case law governing judicial dissolution of limited liability companies exhibits more state-to-state similarity than dissimilarity....more
Frankly, I have to admit my reaction to the recent Business Roundtable’s issuance of a new Statement on the Purpose of a Corporation, which was signed by 181 CEOs who committed to lead their companies for the benefit of all...more
The test for judicial dissolution of LLCs under LLC Law § 702, as laid down in 1545 Ocean Avenue, initially asks whether the managers are unable or unwilling to reasonably permit or promote realization of the LLC’s “stated...more
Public benefit corporations, which are recognized in over 30 states, have now been adopted in Texas. The Texas public benefit corporation laws became effective on September 1, 2017. Now, businesses can incorporate in the...more