Formation

Formation

Introducing the Public Benefit LLC

By Jesse Finfrock

Four years after Delaware first enacted its Public Benefit Corporation (PBC) statute, the state has taken another step forward in advancing legal entity forms for social enterprises. Learn more about the newest Delaware legal entity: the Public Benefit Limited Liability Company, or PBLLC.

Formation/Guidance

Delaware Considers New Statutory Public Benefit Limited Liability Company

By Suz Mac Cormac, Alfredo Silva and Jesse Finfrock

In April 2018, the Delaware State Bar Association’s Corporate Law Section approved an amendment to the Delaware Limited Liability Company Act that allows for the formation of public benefit limited liability companies (PBLLCs). The proposed new PBLLC statute – Subchapter XII of Chapter 18, Title 6 of the Delaware Code (PDF) – closely tracks the Delaware public benefit corporation (PBC) statute, so its material features will be familiar to most social entrepreneurs and impact investors.

Expansion/Formation/Funding/Guidance

A Startup Lawyer’s Guide to the 6 Top Things a Founder Should do Before Raising Venture Capital

By John Rafferty

What steps should startups take before raising venture capital financing? Morrison & Foerster Emerging Companies + Venture Capital partner John Rafferty outlines the top six things founders should do before raising venture capital in his recent article for the Silicon Valley Business Journal. Read the full Silicon Valley Business Journal article.
Exit/Expansion/Formation/Funding/Guidance/IP

Five Cs to watch in Silicon Valley’s emerging venture capital ecosystem in 2018.

By Murray Indick

Murray Indick recently authored the article “Five Cs to Watch in Silicon Valley’s Emerging Venture Capital Ecosystem in 2018,” the first in a new monthly series for the Silicon Valley Business Journal. The article outlines what startup businesses and investors should be watching in 2018, particularly around the Bay Area. Indick details how developments such as the legalization of recreational marijuana in California, increased scrutiny of workplace and industry culture, and the rise of cryptocurrencies... Read more »
Formation

When and How to “B” – Responsible B Corp Conversion

By Suz Mac Cormac

For companies considering converting to a form of benefit corporation, several factors should be carefully considered. This article details the many factors a social enterprise should examine before converting to a Delaware Public Benefit Corporation or California Social Purpose Corporation.