Friday, December 14, 2018
Haskell Murray, this one's for you (and many others who work with B corporations and benefit corporations)!
Friend of the BLPB Tamara Belinfanti recently sent me a link to an article in which she was quoted. The premise of the article is clear from its title: To B or not to B? That’s the question for companies who seek to "balance profit and purpose." Familiar proposition; great article title. It's certainly worth a quick read, even if it says nothing new. (Although it does seem to imply that Justice Strine is no longer the Chief Justice of the Delaware Supreme Court . . . .)
In the article, various folks (including Justice Strine) comment about whether B corporation certification and/or benefit corporations are "needed" for social enterprise firms. This is a question that I love to think about (especially if it can keep me from grading papers for a bit . . . ). Some of you may remember my post on this topic from a few years ago. It also is an issue that I have approached at times in pieces of my academic writing, including in the article featured in this post.
Next summer, at the Southeastern Association of Law Schools annual meeting/conference, I am moderating a discussion group on the subject to continue and enrich the conversation. The title and brief abstract are set forth below.
Discussion Group: Benefit Corporation (or Not)? Establishing and Maintaining Social Impact Business Firms
As the benefit corporation form nears the end of its first decade of "life" as a legally recognized form of business association, it seems important to reflect on whether it has fulfilled its promise as a matter of legislative intent and public responsibility and service. This discussion group is designed to take on the challenge of engaging in that reflective process. The participating scholars include doctrinal and clinical faculty members who both favor and tend to recommend the benefit corporation form for social enterprises and those who disfavor or hesitate to recommend it.
To date, the participants include domestic and international law professors (clinical and doctrinal) and a practitioner, too! Let me know if you would like to join this group. The conference runs from July 28 - August 3 and will be held this year at the Boca Resort and Beach Club.
I will be interested in the discussion. In the mean time, as someone who does not recommend the benefit corporation form, I am opening the BLPB "floor" for discussion here. I am interested in your views.