New Corporate Formats: Ownership Structures are Key - Susan Mac Cormac

Susan Mac Cormac of Morrison Foerster briefly discusses existing corporate forms of ownership structure and fiduciary duties including duty of care, duty of loyalty, and the business judgment rule. This last item is important in terms of understanding how sustainability and socially responsible actions may or may not be considered in the best interests of a corporation and its shareholders. Susan talks about this duty and how she and some others are working to create purpose documents for corporate for-profits that encourage and expressly permit companies to be formed or converted from other forms to pursue one or more social or environmental purposes in addition to creating economic value for shareholders. Lastly, Susan dives into 6 key considerations for a new corporate form: purpose, amendments, decision making, accountability, incorporation, and dissent.
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Category:

Education

Tags:

• susan mac cormac
• law
• corporation
• ownership
• structure
• fiduciary
• duty
• business
• judgment
• sustainability
• shareholders
• purpose
• company
• social
• environmental
• value
• accountability
• rule
• mission
• morrison foerster