Law Commons^™

Benefit Corporations: Increased Oversight Through Creation Of The Benefit Corporation Commission, Thomas J. White Iii

Journal of Legislation

Traditional for-profit and nonprofit corporate forms do not provide the appropriate framework for an organization pursuing both profits and social responsibility. In response, state legislatures have begun to take initiative by offering new business forms to accommodate for an increased demand in social responsibility. These hybrid forms seek to offer an organization the optimal platform by which to meet their dynamic goals. This Note will analyze the recently popular hybrid form of a benefit corporation. Further, this Note will dissect the Model Benefit Corporation Legislation and explain how benefit corporations provide a solution to the theory of shareholder wealth maximization. …