Guest Post: All Corporations Should Be a Benefit

 Guest Post by Steve Boland, Next in Nonprofits Secretary of State Mark Ritchie joined a panel of experts to discuss proposed legislation (which he says will pass in 2014) to create a new class of business in Minnesota. The “public benefit corporation” allows for businesses with shareholders to set a community purpose as a primary business driver, abrogating the perceived risk of a shareholder lawsuit if the publicly held company chooses to emphasize social good over shareholder value – though of course the purpose of a benefit corporation may well be to achieve both things. Where nonprofit corporations must provide…

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