BrandChannel- A revolutionary model for corporations to "do good" better was recently signed into law by California Governor Jerry Brown. Assembly Bill 361 creates two new classes of corporations that are legally required to pursue a positive impact on society and the environment: Benefit Corporations and Flexible Purpose Corporations. The new legal structures widen traditional corporate shareholder value to include stakeholder value, extending to environmental and social responsibility and increased transparency and accountability. California is the first state to pass the Flexible Purpose Corporation model but the sixth state to approve the Benefit Corporation classification. California joins New Jersey, Virginia, Hawaii, Vermont and Maryland that officially allow Benefit Corporations.
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