Open Access. Powered by Scholars. Published by Universities.®
- Institution
Articles 1 - 4 of 4
Full-Text Articles in Law
Business Law–Corporate Purpose And Benefit Corporations–Making Benefit Corporation Legislation Work For Socially Minded Investors, Cody Mckinney
Business Law–Corporate Purpose And Benefit Corporations–Making Benefit Corporation Legislation Work For Socially Minded Investors, Cody Mckinney
The Arkansas Journal of Social Change and Public Service
No abstract provided.
Uncharted Waters? Legal Ethics And The Benefit Corporation, Joseph Pileri
Uncharted Waters? Legal Ethics And The Benefit Corporation, Joseph Pileri
St. Mary's Journal on Legal Malpractice & Ethics
Corporate law norms are reflected in lawyers’ ethical duties. The enactment of benefit corporation legislation across the country signals a legislative acknowledgment that corporate law can serve as a public, rather than a merely private, ordering mechanism. Benefit corporations expressly adopt a public benefit as a legal purpose of the enterprise. While many have written about this important development with respect to corporate fiduciary law, this essay is the first to explore the professional and ethical responsibility of lawyers representing benefit corporations. In the last century, as scholars and courts drove an understanding of corporate law that elevated the interests …
Improving The Benefit Corporation: How Traditional Governance Mechanisms Can Enhance The Innovative New Business Form, Steven Munch
Improving The Benefit Corporation: How Traditional Governance Mechanisms Can Enhance The Innovative New Business Form, Steven Munch
Northwestern Journal of Law & Social Policy
In recent years, a number of states have offered innovative new business forms to accommodate social enterprises, organizations that pursue both profit and social purpose. These hybrid forms are designed to free socially conscious entrepreneurs from the strict pursuit of shareholder value maximization that often controls in business practice and law, allowing them instead to serve the interests of other company stakeholders or even society. One form, the benefit corporation, has been adopted by seven states and is now under consideration in several more. This Note details the development, provisions, and advantages of the benefit corporation. It also identifies and …
Corporate And Business Law, Laurence V. Parker
Corporate And Business Law, Laurence V. Parker
University of Richmond Law Review
In the 2011 session, the Virginia General Assembly passed House Bill 2358, Benefit Corporations, to be codified as article 22 (the "Benefit Corporations Article") of the Virginia Stock Corporation Act ("VSCA"). The Benefit Corporations Article is largely based on legislation prepared in other states and allows a Virginia corporation to elect in its articles of incorporation to be treated as a "benefit corporation." These for-profit corporations are required to pursue not only profitability but also a general public benefit and, if one so elects, one or more specific public benefits. In Section II of this article, the author discusses the …