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It's a process the CEO tried to start, never became binding because they are incorporated in Delaware which doesn't recognize B corps, and can't finish because
by valuearb 10y ago
It's a process the CEO tried to start, never became binding because they are incorporated in Delaware which doesn't recognize B corps, and can't finish because he doesn't have buy-in from the owners of the company.
So it's temporary status doesn't belie the fact it's not going to be one and shouldn't be treated as one.
- dublinben 10y agoDelaware absolutely does incorporate Public Benefit Corporations. Kickstarter is one example.
- harlanlewis 9y agoThis is way outside of my expertise or experience, but this thread got me curious. Here's what 3 minutes of googling indicates: * most states have b corps * most states that have b corps based them on the Model Benefit Act, drafted by B-Lab * Delaware has b corps, but they are not based on the Model Benefit Act * whether the Model Benefit Act was used affects all sorts of things (requirements, reporting, standards, decision makers, enforcement…) So it seems fair to say that delaware has b corps, but they are not like the others.