Tucked away on the East Coast and the sixth most densely populated state in the United States, “The First State” Delaware holds another nickname when it comes to business as the “incorporation capital of the world.”
Delaware is the legal home to more than a million business entities, including 50% of all U.S. publicly traded companies and 64% of the Fortune 500. Additionally, the state recently became 19th state to enact benefit corporation legislation, allowing companies the ability to register within Delaware as a benefit corporation.
No, you aren’t having Déjà vu - we’ve done a business basics on B-Corps before. However, we decided to revisit the benefit corporation because there are still so many question surrounding the new structure. In just a few short months, eight more states have enacted legislation to recognize benefit corporation, bringing the total up to twenty, if you include D.C. And, as more and more people weigh the pros and cons of forming a B-Corp, the inevitable question of ‘how do you even run one of these things?’ is bound to come up. Happily, running a B-Corp isn’t much different than running any other type of corporation.
Benefit Corporations: Part Two!