Corporate
Apr. 26, 2011
Entrepreneurs and Investors Get Legislative Support
Two new bills would enable socially conscious entrepreneurs to form companies tailored to specific causes. By Yuliya A. Oryol, Meg Catzen-Brown and Adam N. Lerner of Nossaman LLP.
Two new bills recently introduced in the California Legislature would allow socially conscious entrepreneurs to form either a "flexible purpose corporation" or a "benefit corporation." These two new forms of corporate entities would serve to not only maximize financial returns to shareholders, but also to advance a broader social and environmental purpose (known as a "special purpose...
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