As of January 2012, there are two new corporate entities available to California businesses: Flexible Purpose Corporations and Benefit Corporations. These new corporate entities offer companies the opportunity to provide for sustainability and social goals in their corporate objectives, representing an exciting shift in corporate law that promises to have a major impact on how businesses operate now and in the future!
This program is designed to introduce you to California's new corporate structures, explain how you can incorporate them into your business or practice, and understand how to choose between them. Our speakers will include members of the working group that drafted and then advocated on behalf of the Flexible Purpose Corporation legislation—an effort that involved over 5 years of dedicated work.
Stay ahead of the trend by taking advantage of this unique opportunity to learn about these new corporate entities from experts who are involved in a nation-wide shift in corporate law.
The Need for New Corporate Forms
- Why is corporate form important from a sustainability and social benefit perspective?
- How can companies and shareholders emphasize social and environmental factors using traditional corporate forms? What are the legal limits?
Comparison of California's New Corporations
- How do these new corporate forms differ from traditional corporate forms, and how do they differ from each other?
- Why are these differences important, and what should a company consider when selecting a corporate structure?
- What systems are in place to ensure accountability with respect to the mission?
- What disclosure is required for shareholders, and what enforcement actions are permitted?
- What types of companies will utilize these new options? Can companies convert?
- How will these new forms impact the market generally? Will it have any impact on companies that do not elect to use it?
- Susan H. Mac Cormac (Moderator) Morrison & Foerster LLP, San Francisco
- R. Todd Johnson Jones Day, Palo Alto
- David A. Levitt Adler & Colvin, San Francisco
3 hours MCLE Credit will be provided.