Comparative and Foreign Law Commons^™

With The Emergence Of Public Benefit Corporations, Directors Of Traditional For-Profit Companies Should Tread Cautiously, But Welcome The Opportunity To Invest In Social Enterprise, Mckenzie Holden Granum

Seattle University Law Review

Social entrepreneurship has become the popular term used to describe business forms that aim to produce profits while also seeking to significantly advance one or more social or environmental goals. In response to an increase in social entrepreneurship across sectors—from progressive industries like organic farming to conservative industries such as insurance and banking—several states have adopted new corporate governance structures. Such legislation allows incorporating businesses to choose an off-the-shelf formation type that embeds a social mission into its legal structure. The bulk of the newly implemented statutory forms provide not only a new framework for social entrepreneurs to work within, …