The public benefit corporation is one of the most recent developments in corporate law. The essence of this new form is that directors are permitted under their fiduciary duties to consider purposes other than profit in decision-making. The public benefit corporation has therefore been described as different from the traditional corporation, which in some measure must be devoted solely to a for-profit motive. The public benefit corporation has been hailed as the “new corporate form” – one that permits a corporation to both earn money and serve a social purpose.
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