01 Aug '13, 8pm

Historic Benefit Corp Legislation in Delaware Passes into Law

Historic Benefit Corp Legislation in Delaware Passes into Law 01 Aug 2013 – Headline Today marks the first official day that businesses in Delaware will be able to register as benefit corporations. New legislation allows benefit corporations to be formed and managed for the benefit not only of stockholders, but also for public interest and those affected by the corporation’s activities. Delaware is the 19th state (plus the District of Columbia) to enact benefit corporation legislation, but as legal home of most venture-backed businesses, the majority of publicly-traded companies, and nearly two-thirds of the Fortune 500, it is the most important state for businesses that seek access to venture capital, private equity, and public capital markets. Current Delaware law requires corporations to prioritize the financial interests of shareholders over the interests of workers, c...

Full article: http://www.sustainability.com/news/historic-benefit-corp-...

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