"Social Purpose Corporations," Davis Wright Tremaine CLE, Seattle
Many companies are increasingly looking to build social values – such as making a commitment to environmental sustainability or improving other aspects of the local, national, or world communities – into their corporate DNA. As of June 7, 2012, a new form of business corporation – the social purpose corporation - is available in Washington that allows companies to do just that.
This program discussed the unique features of this new form of corporate entity, the requirements to form or convert to a social purpose corporation, and the social purposes that may be advanced using the social purpose corporation form. DWT partner John Reed, chair of the Washington State Bar Association Corporate Act Revision Committee that drafted and sponsored the proposed legislation, provided an insider’s perspective on the legislation.