Using Form to Counter Corruption: The Promise of the Public Benefit Corporation

25 Pages Posted: 15 Dec 2015 Last revised: 23 Mar 2016

See all articles by Joseph W. Yockey

Joseph W. Yockey

University of Iowa College of Law

Date Written: December 11, 2015

Abstract

Many observers argue that part of the blame for foreign corrupt practices should be placed on legal form. Their claim is that traditional corporate norms of shareholder wealth maximization help explain why corporate corruption is so prevalent. This essay shifts that argument to examine whether there are characteristics among corporate forms that can boost the efficacy of internal compliance strategies. In doing so, the paper’s primary recommendation is for founders to focus greater attention on an emerging new corporate association — the public benefit corporation — as a promising option for blueprinting sustainable anti-corruption compliance.

Keywords: FCPA, corruption, bribery, compliance, benefit corporation, social enterprise

Suggested Citation

Yockey, Joseph W., Using Form to Counter Corruption: The Promise of the Public Benefit Corporation (December 11, 2015). 49 U.C. Davis L. Rev. 623 (2015) , U Iowa Legal Studies Research Paper No. 16-06, Available at SSRN: https://ssrn.com/abstract=2702546

Joseph W. Yockey (Contact Author)

University of Iowa College of Law ( email )

Boyd Law Building
Iowa City, IA 52242
United States

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