Effective today, Washington will recognize a new corporate entity: the social purpose corporation.  You can learn more about this legal structure here and here (or even download the legislation’s text here).  The social purpose corporation (or SPC) is Washington State’s social enterprise; its version of the benefit corporation that has been adopted by several other states.  At bottom, these for-profit entities provide the corporation’s management with the legal cover to take actions that further a social or environmental goal, even if furthering that goal would come at the cost of shareholder value. After today, Washington will join several other......


Articles, Benefit Corporation, Dispute Resolution, Flexible Purpose Corporation, L3C, Social Enterprise, Social Entrepreneur, social entrepreneurship, Social Purpose Corporation |
April 2, 2012

Benefit Enforcement Proceedings for the Benefit Corporation– What are they and How will they work?

As more and more states enact legislation authorizing Benefit Corporations, more questions will be asked about the form and function of these hybrid entities.  Nowhere are these questions more evident...

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