California’s New Flexible Purpose Corporation:
Redefining the Corporate Form for the 21st Century

12/08/2011 01:30 a.m. - 01:30 p.m.

Clean Technology

Waterfront Restaurant
Main Dining Room (2nd Floor)
Pier 7, The Embarcadero
San Francisco, CA 94111

Susan H. Mac Cormac

Susan H. Mac Cormac

Sponsorship

Why is corporate form important from a social and environmental perspective? Join us for a lively discussion of the limitations of traditional corporate forms, and learn about a new development that promises to change corporate governance, accountability, and reporting.

California S.B. 201, which was signed into law on October 9, created the Flexible Purpose Corporation (FPC). The FPC is a new corporate form that has an additional "safe harbor" that requires boards and management to consider a special purpose, such as environmental and social factors, in addition to shareholder value in both the ordinary course of business and change of control situations while protecting them from shareholder liability in connection with those actions. This new form and others like it represent an exciting shift in corporate law which promises to have a major impact on how businesses operate now and in the future.

Topics Include:

  • How does California's new Flexible Purpose Corporation (FPC) differ from traditional corporate forms, and why are those differences important?
  • What other alternatives are available to a socially or environmentally conscious company? What are the benefits and drawbacks of each alternative?
  • Why is corporate form important for environmental sustainability as well as traditional economic goals?
  • Now that the FPC legislation has passed, what will happen next? What types of companies can become an FPC?

Moderator:

  • Susan Mac Cormac
    Partner
    Morrison & Foerster LLP

Speakers:

  • R. Todd Johnson
    Partner
    Jones Day
  • Will Fitzpatrick
    General Counsel
    Omidyar Network
  • Jordan Breslow
    General Counsel
    New Island Capital

MCLE Credit: 1 Hour General California MCLE

Email Disclaimer

Unsolicited e-mails and information sent to Morrison & Foerster will not be considered confidential, may be disclosed to others pursuant to our Privacy Policy, may not receive a response, and do not create an attorney-client relationship with Morrison & Foerster. If you are not already a client of Morrison & Foerster, do not include any confidential information in this message. Also, please note that our attorneys do not seek to practice law in any jurisdiction in which they are not properly authorized to do so.

©1996-2018 Morrison & Foerster LLP. All rights reserved.