A Delaware PBC is a for-profit corporation intended to produce a public benefit and operate in a responsible and sustainable manner. Unlike traditional corporations, a PBC must consider its public benefit purpose and interests of those materially affected by the corporation’s conduct in addition to stockholder value.
Cooley continues to see a surge of fervent interest among clients and investors in the PBC as focus grows for businesses to create a positive impact on society. With its new package, Cooley seeks to address the lack of publically available incorporation documents for Delaware PBCs and help companies determine whether being a public benefit corporation is appropriate for their business.
“The social enterprise movement is burgeoning in the Bay Area and across the US,” said Cooley emerging companies partner Peter Werner. “It’s great to be able to contribute in this practical way to the impact community.”
Entrepreneurs who wish to integrate sustainability and social impact into their company can choose to generate the PBC Incorporation Package via the Cooley GO document generator.
In addition to this new document package, Cooley GO hosts a variety of publically available information on public benefit corporations and alternative entities, including a five-part test to see if companies should consider incorporating as or converting into a PBC. Visit Cooley GO to find these resources.
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