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Could you start a company whose bylaws stipulate that a certain percentage of the profits has to go to charity, with no ability to ever change that rule? If so
by lobster_johnson 9y ago
Could you start a company whose bylaws stipulate that a certain percentage of the profits has to go to charity, with no ability to ever change that rule?
If so, you could set up two companies. One is the charity, the other is the for-profit. The for-profit has to give much of their profits away, but they're still allowed to be as capitalistic as they want to be, and the charity doesn't need to own them.
On the other hand, I don't know if such an arrangement could ever be legally binding.