Delaware Public Benefit Corporation Practice Note, Standard Clause & Conversion Checklist

Morris Nichols attorneys Rick Alexander, Eric Klinger-Wilensky and Melissa DiVincenzo published three guides on Delaware public benefit corporations for Practical Law Corporate & Securities.  Their Delaware Public Benefit Corporation Practice Note provides an overview of public benefit corporations organized in Delaware. It highlights the special provisions that apply to this type of corporation, including how public benefit is defined, duties of directors, notice and reporting requirements, and the conversion process.

The authors’ Certificate of Incorporation: Public Benefit Corporation Provisions Standard Clause contains integrated notes with important explanations and drafting tips.

The helpful Delaware Public Benefit Corporation Conversion Checklist summarizes the necessary steps for a traditional corporation to become a public benefit corporation (PBC) in Delaware. A PBC is similar to a traditional corporation, but has more requirements, including obligations to pursue one or more public benefits and to operate in a manner that considers the interests of those materially affected by its conduct.

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Frederick H. Alexander, Eric S. Klinger-Wilensky, Melissa A. DiVincenzo, “Public Benefit Corporations (DE),” Practical Law Corporate & Securities (Nov. 28, 2016).

Frederick H. Alexander, Eric S. Klinger-Wilensky, Melissa A. DiVincenzo, “Certificate of Incorporation (DE): Public Benefit Corporation Provisions,” Practical Law Corporate & Securities (Nov. 28, 2016).

Frederick H. Alexander, Eric S. Klinger-Wilensky, Melissa A. DiVincenzo, “Delaware Public Benefit Corporation Conversion Checklist,” Practical Law Corporate & Securities (Nov. 28, 2016).

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