Public Benefit Corporation

News & Analysis as of

Recognizing Social Entrepreneurship: Minnesota Embraces the Public Benefit Corporation

As of January 1, 2015, Minnesota will join the ranks of states that have adopted statutes permitting public benefit corporations, a new form designed to enable businesses to seek not only shareholder value but also...more

Nonprofit Alert: Minnesota Public Benefit Corporation Act - Who Will Measure the Benefit, and How?

On January 1, 2015, the Minnesota Public Benefit Corporation Act (the Act) takes effect, and will allow the formation of public benefit corporations for the first time in this state. Public benefit corporations are not...more

Should You Consider Forming A Public Benefit Corporation?

Did you form your business to benefit the public and is it designed to operate in a responsible and sustainable manner? Does your business focus on pursuing a net material positive impact as well as making a profit? If so,...more

Nonprofit Alert: Minnesota Public Benefit Corporation Act - Preparing for Public Benefit Corporation Status on January 1, 2015

In its most recent session, the Minnesota legislature enacted legislation that allows for the formation of public benefit corporations. Public benefit corporations are not charitable or tax-exempt—they are commercial...more

Arizona Soon to Recognize For-Profit, Positive Impact Corporations Known As Benefit Corporations

Legislation enabling a new type of corporate legal entity in Arizona – the benefit corporation – takes effect January 1, 2015. A benefit corporation is distinguished from other for-profit corporations because it is required...more

Follow-Up on Delaware Public Benefit Corporations

On August 1, 2013, the Delaware legislature effected amendments to the Delaware General Corporation Law allowing corporations to elect to be formed as, or convert to, a public benefit corporation (PBC) (Subchapter XV of...more

Minnesota Public Benefit Corporation Act

In This Issue: - Introduction - Minnesota Public Benefit Corporation Legislation - Effective Date - Types of Public Benefit Corporations - Establishment of a Public Benefit Corporation - Name -...more

Proposed Minnesota Public Benefit Corporation Legislation

A bill has been introduced to bring public benefit corporations to Minnesota. The public benefit corporation is a relatively recent legal innovation that occupies a hybrid position between a traditional corporation and a...more

Public Benefit Corporation Act of Colorado

During the 2013 legislative session, the Colorado Legislature enacted H.B. 13-1138, the Public Benefit Corporation Act of Colorado (“PBC Act”). This act, which becomes effective April 1, 2014, creates a new kind of corporate...more

2013 Changes to Delaware Corporate and LLC Law

In this alert we summarize the most important recent additions and amendments to the Delaware General Corporation Law (the “DGCL”) and the Delaware Limited Liability Company Act (the “DLLCA”). These changes include...more

Delaware Public Benefit Corporations: A Brief Introduction

On August 1, 2013, the Delaware legislature added a potentially important new subchapter to the General Corporation Law, allowing corporations to elect to be formed as, or convert to, a public benefit corporation (PBC)...more

Delaware Legislature Adopts Amendments to Delaware General Corporation Law

Effective as of August 1, 2013, the Delaware legislature adopted several significant amendments to the Delaware General Corporation Law (DGCL). ...more

Public Benefit Corporations Open for Business in Delaware

Delaware is the 19th state to adopt a corporate business form for enterprises that wish to combine "for profit" pursuits and "public benefits." On August 1, 2013, Delaware began permitting the organization of for-profit...more

Significant Amendments to Delaware General Corporation Law Enacted

On June 30, 2013, Governor Jack Markell of Delaware signed into law amendments to the Delaware General Corporation Law (DGCL) that affect a number of provisions in the current DGCL and could have substantial effects on the...more

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...more

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