California’s Benefit Corporation Revolution
Benefit Corporations are a new and innovative corporate charter, available in only seven states, allowing a company's board of directors to consider social or environment objectives ahead of profits. Hanson Bridgett LLP and Full Circle Fund teamed up Tuesday night to present an exclusive panel of experts who spoke about the Benefit Corporation revolution now taking place in California.The legal structure of a Benefit Corporation is designed to shield the board from investor lawsuits, so companies that care about more than just their bottom line now have the opportunity to do well financially and "do good" in the world. View the slides in a new window or click below.
Hanson Bridgett Partner Jonathan Storper gave participants a solid overview of the new designation. Storper was instrumental in passing the new legislation which went into effect in January 2012. Dermot Hikisch of B-Lab pointed out the differences between good companies and good marketing, the B Impact rating system and performance standards, and how B-Corps are already affecting the economy. Full Circle Fund Founder Josh Becker wrapped up the panel with insights from the VC and investment community.
Members and guests left excited about the possibilities of this new sector. We'd like to thank Hanson Bridgett and moderator Leslie Keil for partnering with us on this event and helping energize our members and partners about this new movement in California.