Abstract
This essay assesses US benefit corporation legislation in the context of ethical decision-making by directors. Although benefit corporation legislation was enacted with the good intention of promoting social enterprises, this essay argues that it also may result in potential conflict for ethically-minded directors. This essay submits that this conflict arises from three problems: (a) the “No Guidance Problem”; (b) the “Expanded Conflict of Interest Problem and (c) the Unrepresented Public Interest Problem”.
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