Changes To Del. Law May Boost Public Benefit Corp. Appeal
By Ethan Klingsberg, Sarah Solum and Pamela Marcogliese (July 31, 2020, 5:56 PM EDT) -- On July 16, Delaware adopted amendments to the Delaware General Corporation Law that will have a meaningful impact on the factors being weighed by companies considering conversion to a public benefit corporation, or PBC.
What Is a PBC?
A PBC is incorporated under the DGCL like any other for-profit corporation organized under Delaware law. The primary difference is that the charter of a PBC specifies one or more public benefits that the corporation intends to pursue alongside its mission to act in the best interests of its stockholders. Public benefits may include artistic, charitable, cultural, economic, educational, environmental, literary, medical, religious,...
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