Flexible Purpose Corporation
A flexible purpose corporation is a class of corporation in California lacking a profit motive when pursuing a social benefit defined in its charter. A flexible purpose corporation differs from a Benefit corporation in that it targets for-profit entities seeking traditional capital market investment. History Flexible purpose corporations were established in California S.B 201, which was signed into law on October 9 and became effective January 1, 2012. Formerly known as the “flexible purpose corporation”, the Social Purpose Corporation (SPC) was given a new name on January 1, 2015 to better reflect the intended purpose of this corporate form.¹ ¹ In September 2014, Governor Jerry Brown signed into law an amendment (S.B. 1301) to the Corporate Flexibility Act of 2011. This amendment renamed the “flexible purpose corporation” as the “social purpose corporation”; eliminated the waiver for the MD&A requirement; and now requires directors of SPCs to consider factors such ...
[...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  

Corporation
A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and recognized as such in law for certain purposes. Early incorporated entities were established by charter (i.e. by an ''ad hoc'' act granted by a monarch or passed by a parliament or legislature). Most jurisdictions now allow the creation of new corporations through registration. Corporations come in many different types but are usually divided by the law of the jurisdiction where they are chartered based on two aspects: by whether they can issue stock, or by whether they are formed to make a profit. Depending on the number of owners, a corporation can be classified as ''aggregate'' (the subject of this article) or '' sole'' (a legal entity consisting of a single incorporated office occupied by a single natural person). One of the most att ...
[...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  

Benefit Corporation
In the United States, a benefit corporation (or in several jurisdictions including Delaware, a public-benefit corporation or PBC) is a type of for-profit corporate entity, authorized by 35 U.S. states and the District of Columbia, that includes positive impact on society, workers, the community and the environment in addition to profit as its legally defined goals, in that the definition of "best interest of the corporation" is specified to include those impacts. Laws concerning conventional corporations (referred to as "C corporations" by the IRS) typically do not specify the definition of "best interest of the corporation", which has led to the interpretation that increasing shareholder value (profits and/or share price) is the only overarching or compelling interest of a corporation. Benefit corporations may not differ much from traditional C corporations. A C corporation may change to a B corporation merely by stating in its approved corporate bylaws that it is a benefit co ...
[...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]  

Social Purpose Corporation
#REDIRECT Social purpose corporation #REDIRECT Social purpose corporation {{redirect category shell, {{R from other capitalisation{{R from move ...