Benefit Corporations: A Challenge in Corporate Governance
Mark J. Loewenstein, 68(4): 1007-1038 (August 2013)
Benefit corporations are a new form of business entity that is rapidly being adopted around the country. Though the legislations varies from jurisdiction to jurisdiction, most statutes are based on a model proposed and promoted by B Lab, itself a nonprofit corporation. The essence of these statutes is that, in making business judgments, the directors of a benefit corporation must take into account the impact of their decisions on the environment and society. The model legislation, though, may create serious governance issuance for the directors of benefit corporations that operate under these laws. This article analyzes the model legislation and identifies its weaknesses, particularly with respect to governance issues.
Benefit Corporation White Paper
Corporate Laws committee, ABA Business Law Section, 68(4): 1083-1110 (August 2013)
Interview with Marty Lipton
Jessica C. Pearlman; 75(2): 1709-1724 (Spring 2020)
In September of 2019, after wrapping up meetings of the Mergers and Acquisitions (“M&A”) Committee of the Business Law Section of the American Bar Association (“ABA”), I took the train from Washington, D.C. to New York City to meet with Marty Lipton—the well-known founder of Wachtell, Lipton, Rosen & Katz—in a conference room at his firm. It was perfect timing to have this conversation with Mr. Lipton, given recent developments relating to corporate views on the constituencies corporations may take into account in their decision-making.