Doing Good While Doing Well — Delaware Is the 19th State to Adopt Public Benefit Corporation LawOn July 29, 2013 by Schnader
A new Delaware law authorizing the creation of public benefit corporations (“PBCs”) in Delaware becomes effective on August 1, 2013. PBCs are a new type of socially conscious for-profit corporation intended to operate in a responsible and sustainable manner. Directors of PBCs are required to balance the interests of stockholders with the best interests of those materially affected by the corporation’s conduct, such as the community and environment, and the specific public benefits identified by the corporation.
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