As we previously reported, in October 2023, California enacted SB 54, a law requiring venture capital (VC) firms with a nexus to California to report data regarding the diversity of the founding members of the portfolio...more
On June 3, 2024, the US Court of Appeals for the 11th Circuit ordered entry of a preliminary injunction blocking venture capital firm Fearless Fund from administering a grant program through its philanthropic foundation for...more
California’s governor recently signed into law SB 54, a bill intended to increase transparency regarding diversity of founding teams in the venture capital (VC) industry. The new law will require VC companies, including...more
ESG – or environmental, social and governance – is an umbrella term for a broad range of non-financial factors to evaluate a company’s operations and its resilience and sustainability over time. ESG focuses on non-financial...more
Developing an ESG (environmental, social and governance) focus across the business is a journey that a company can begin at any stage. This roadmap is intended as a guide for early-stage companies that want to be more...more
What is a Delaware public benefit corporation?
A Delaware public benefit corporation (PBC) is a for-profit corporation intended to produce a public benefit and operate in a responsible and sustainable manner. A PBC must be...more
Nonprofit organizations can take advantage of many of the relief options offered by the US Coronavirus Aid, Relief, and Economic Security Act, a $2 trillion emergency relief in response to the COVID-19 pandemic signed into...more
So you’ve decided to incorporate as (or convert into) a Delaware Public Benefit Corporation (PBC). In your Certificate of Incorporation you have chosen a public benefit, or mission statement. Now what? This article discusses...more
Many of our clients approach us with some variation of “We want to be a B Corp.” What does that mean exactly? The term “B Corp” is often used interchangeably to refer to both benefit corporations and Certified B Corporations,...more
If you’re an entrepreneur considering incorporating as or converting into a Delaware Public Benefit Corporation (PBC), the following five-part test may be helpful in determining whether it is the right choice of entity.
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Over the last several years, there has been a dramatic increase in entrepreneurs interested in using business to drive positive social change. While corporations retain substantial flexibility to pursue social and...more