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October 10, 2011 California Governor Jerry Brown signed Assembly Bill 361 of 2011 and related legislation, Senate Bill 201 of 2011 on October 10, 2011. The legislation created two new business structures: benefit corporations and flexible purpose corporations. Companies registered as benefit corporations must make business decisions that take into account adverse effects on the environment, their local community, employees, and suppliers. A flexible purpose corporation permits a company to focus on a specific mission that benefits society in addition to generating profits for shareholders. Both types of companies must file an annual, audited report with the California Secretary of . . .

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Market Intelligence Resource | October 10, 2011

California Assembly Bill 361, Creating Benefit Corporations

October 10, 2011 California Governor Jerry Brown signed Assembly Bill 361 of 2011 and related legislation, Senate Bill 201 of 2011 on October 10, 2011. The legislation created two new business structures: benefit corporations and flexible purpose corporations. Companies registered as benefit corporations must make business decisions that take into account adverse effects on the environment, their local community, employees, and suppliers. A flexible purpose corporation permits a company to focus on a specific mission that benefits society in addition to generating profits for shareholders. Both types of companies must file an annual, audited report with the California Secretary of . . .

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Resource Available For Paid OPEN MINDS Circle Members Only
Not a paid member? Don't miss out! Sign up today and receive unlimited organizational access to all OPEN MINDS strategic advice, market intelligence, and management best practices – over 250,000 resources!
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If you are already a paid member, log in to your account to access this resource and more. If you are a free member, you will need to upgrade to a paid membership before accessing this resource.

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If you are not yet a paid member, learn more about the OPEN MINDS Circle Market Intelligence Service Membership on our website, reach out to our team at info@openminds.com, or call us at 877-350-6463.