Delaware Public Benefit Corporations: Widening the Aperture to Broaden the Corporate Mission
Beginning in 2010, state legislatures began to adopt legislation authorizing a new form of corporation called the “benefit corporation.” At the time, I was a practicing lawyer at a firm operating at the center of U.S. corporate Law: Delaware. Initially a skeptic, I now believe that benefit corporation law offers an important opportunity for a company to align the interests of its investors with those of its stakeholders in a way that is discouraged by traditional corporate law. Today I serve as Head of Legal Policy at a non-profit organization whose aim is to build an infrastructure for capitalism that incorporates stakeholder values. In a book published this past year,1 I describe the theory and practice of Delaware’s version of the benefit corporation, as well as my own journey from skeptic to evangelist.
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Frederick H. Alexander, “Delaware Public Benefit Corporations: Widening the Aperture to Broaden the Corporate Mission,” The Journal of Applied Corporate Finance, Spring 2016.