Benefit Corporations and the Common Law Tradition

Abstract

AbstractThe phenomenon of benefit corporations is examined from the historical perspective within the common law tradition. In many ways, the recent history of benefit corporations is a restoration of aspects of corporation law that were obscured during the last century. After placing the history of benefit corporations in the broader historical context, this chapter presents an overview of the issues in corporation law that need to be addressed in some way—either legislatively, through court decisions, or private agreement—in order for benefit corporations to function.