The Public Benefit Corporation Guidebook
The benefit corporation model has emerged in the last decade, having been adopted in a majority of U.S. states, and by over 3,000 corporations. This new governance model broadens the perspective of traditional corporate law by incorporating concepts of purpose, accountability and transparency with respect to all corporate stakeholders, not just stockholders. Delaware, the corporate domicile of most U.S. public companies, adopted legislation authorizing the creation of Delaware public benefit corporations in 2013, and since then, hundreds of PBCs have been formed in Delaware.
PBCs have a critical role to play in the twenty-first century economy. The PBC Guidebook is the first comprehensive treatment of Delaware’s new provisions. Author Frederick Alexander, Head of Legal Policy at B Lab, draws upon decades of practice as a Delaware corporate transactional lawyer to offer an explanation of the operation of the statute and practical advice for those using it.
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