A Skeptic's View of Benefit Corporations

Emory Corporate Governance and Accountability Review, Vol. 1, No. 1, 2015

Boston College Law School Legal Studies Research Paper No. 367

6 Pages Posted: 5 Aug 2015

Date Written: August 4, 2015

Abstract

Over the last few years there has been a shift in the core ideas of business with respect to corporate responsibility. A new type of business classification called benefit corporations is gaining popularity in the United States. Benefit corporations are required to have a positive impact on society and the planet, and to meet a higher level of accountability and transparency. However, will benefit corporations truly change the industry and world positively? This article provides for skepticism about the positive affects benefit corporations are purported to have on business. One reason is that benefit corporations are completely voluntary; thus, the corporations in most need of change and oversight are not likely to opt-in. The motivation behind benefit corporations is a step in the right direction; however, in order to effect real change in corporate responsibility, the law needs to be bolder.

Suggested Citation

Greenfield, Kent, A Skeptic's View of Benefit Corporations (August 4, 2015). Emory Corporate Governance and Accountability Review, Vol. 1, No. 1, 2015, Boston College Law School Legal Studies Research Paper No. 367, Available at SSRN: https://ssrn.com/abstract=2639788

Kent Greenfield (Contact Author)

Boston College Law School ( email )

885 Centre Street
Newton, MA 02459-1163
United States
617-552-3167 (Phone)
617-552-4098 (Fax)

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