tag:blogger.com,1999:blog-55636167642602031802024-03-16T11:52:57.976-07:00Business for Good (sm)Unknownnoreply@blogger.comBlogger34125tag:blogger.com,1999:blog-5563616764260203180.post-22238059162519295212020-01-15T13:57:00.000-08:002020-01-15T13:57:09.910-08:00The BlackRock Announcement: A Long Time Coming
The announcement this week by Blackrock will be replicated over the entire financial services sector over the coming years. Those who adopt early will continue to have a serious advantage, so long as they can produce data for their clients showing how and where their money is having impact.
Stories are fine, but not nearly enough, as the SEC's investigation into ESG funds will no doubt Unknownnoreply@blogger.com20tag:blogger.com,1999:blog-5563616764260203180.post-33346899097387960642013-03-20T17:41:00.001-07:002013-03-20T17:41:21.896-07:00More States Moving Towards Integrated Corporate Statutes
For those keeping track, several new states have recently introduced legislation providing for integrated corporate structures for social entrepreneurs, with the most recent announcement coming today in a watershed moment as Delaware, the "grand-daddy" of the corporate bar, announced the introduction of legislation for a Public Benefit Corporation.
Delaware's proposed legislation looks a&Unknownnoreply@blogger.com11tag:blogger.com,1999:blog-5563616764260203180.post-5448296812430761592012-11-13T11:43:00.005-08:002012-11-13T11:43:33.869-08:00Priming the Pump for Impact Investing
Omidyar Network has done it again -- providing thought leadership for the impact investing and social enterprise space -- this time with a well-reasoned and well written white paper on impact investing as a sector play, rather than just the domain of a few firms.
Take a look. It's worth the read!
*Todd is a partner at the law firm of Jones Day, where he founded their Silicon Valley Unknownnoreply@blogger.com14tag:blogger.com,1999:blog-5563616764260203180.post-34496142040436905762012-05-22T11:10:00.001-07:002012-05-22T11:25:12.152-07:00Lessons from an Impact Investing Newbie
Okay, so I just couldn't resist linking to this new blog post from one of the coolest people I know (who just happens to be my daughter)!
*Todd is a partner at the law firm of Jones Day, where he founded their Silicon Valley Office and runs their Renewable Energy and Sustainability Practice. The views expressed in this column are solely Todd’s personal views, not the views of Jones Day or its Unknownnoreply@blogger.com51tag:blogger.com,1999:blog-5563616764260203180.post-79325418504987603562012-05-07T23:50:00.001-07:002012-05-07T23:51:47.815-07:00Work vs. Life's Work
I hope this is truly what you get as a welcome letter on the first day!
*Todd is a partner at the law firm of Jones Day, where he founded their Silicon Valley Office and runs their Renewable Energy and Sustainability Practice. The views expressed in this column are solely Todd’s personal views, not the views of Jones Day or its clients, and the information provided as to his Unknownnoreply@blogger.com68tag:blogger.com,1999:blog-5563616764260203180.post-23080181611934637482012-05-05T15:59:00.003-07:002012-05-05T15:59:53.541-07:00What would you do with $20?
First, let me offer an enticement for reading all the way through this post: it includes a secret for a challenge and a giveaway. So keep reading!
Last weekend, I had the privilege of working with 70 people (young, old, single, married) who showed up on Saturday knowing only that it they would be going on an adventure, that we fondly called "Love Out Loud." Knowing nothing more, they Unknownnoreply@blogger.com88tag:blogger.com,1999:blog-5563616764260203180.post-76239967777098101182011-10-12T23:35:00.000-07:002011-10-13T06:32:58.755-07:00New York Times Report on the Flexible Purpose Corporation
It doesn't feel so bad being quoted on the front page of the New York Times Business Section. I just wish the reporters paid a little more attention to the facts, namely:
it's not a low-profit model, if you don't want it to be;
the California State Bar's Corporations Committee and the Department of Corporations supported the Flexible Purpose Corporation; and
California is the only state that Unknownnoreply@blogger.com275tag:blogger.com,1999:blog-5563616764260203180.post-22554013213585730542011-10-10T09:05:00.000-07:002011-10-10T09:05:07.357-07:00Governor Brown Signs California Flexible Purpose Corporation and Benefit Corporation Legislation
At the 11th hour, last night, just before the deadline, Governor Brown signed Senate Bill 201 (the Corporate Flexibility Act of 2011) creating the Flexible Purpose Corporation, and Assembly Bill 361 creating the Benefit Corporation.
Both laws will take effect on January 1, 2012.
*Todd is a partner at the law firm of Jones Day, where he founded their Silicon Valley Office and runs their Unknownnoreply@blogger.com19tag:blogger.com,1999:blog-5563616764260203180.post-28901381301841681632011-09-06T17:01:00.000-07:002011-09-07T22:09:22.721-07:00A Movement in Need of a Rosetta Stone
As I prepare for tonight's official kick-off to SoCap11, I'm struck by where the economy sits today, compared to where it sat at the start of the very first SoCap four years ago -- SoCap08. Needless to say, based on the economy, it doesn't feel as if we've come that far.
And yet, as I watch the disparate elements of this social capital movement come to grips with the fact that it is (in fact) Unknownnoreply@blogger.com10tag:blogger.com,1999:blog-5563616764260203180.post-16713345814303114982011-09-01T17:45:00.000-07:002011-09-01T17:45:37.500-07:00Time for Governor Brown to Bring It Home
Senate Bill 201 passed the concurrence vote today in the Senate, which means that Governor Brown has (or shortly will have) two bills on his desk that would make California the leader in providing choice for social entrepreneurs.
For those who care: The final vote in the Senate was 39 in favor and none opposed.
Governor Brown -- sign this bill!
*Todd is a partner at the law firm of Jones DayUnknownnoreply@blogger.com5tag:blogger.com,1999:blog-5563616764260203180.post-27564368584222339252011-08-31T11:10:00.000-07:002011-08-31T20:10:15.061-07:00Two Bills Heading for the Governor's Desk in CaliforniaYesterday marked a big day in California.
As reported here, Assembly Bill 361 (the Benefit Corporation legislation sponsored by Assembly member Jared Huffman) passed the concurrence vote Tuesday in the Assembly and began the enrolling and engrossing process to end up on Governor Brown's desk this week. (No, it is not technically on the Governor's desk, but probably will be by the end of Unknownnoreply@blogger.com11tag:blogger.com,1999:blog-5563616764260203180.post-49477964344815721932011-07-18T11:59:00.000-07:002011-07-18T12:04:32.210-07:00One More Step Towards A California Flexible Purpose Corporation: A Legislative Update and A Great LossLegislative Update.
Friday marked a first in recent years: The California Legislature begain it's one-month summer recess! (During the past several years, the summer recess was cancelled while the legislature worked with the Governor to reach a budget compromise.) So, for the next four weeks, there will be no news from Sacramento regarding the two pieces of legislation we've been following: SB Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-5563616764260203180.post-38091636745583987672011-07-07T17:16:00.000-07:002011-07-07T17:24:57.635-07:00The Weekly Update on California's FPC and Benefit CorporationLast week, Sacramento took additional steps towards the ultimate passage of the Flexible Purpose Corporation (SB201) and the Benefit Corporation (AB361).
SB201 Flexible Purpose Corporation
The Flexible Purpose Corporation came closer to reality last week when the Assembly's Judiciary Committee passed the legislation out of committee on June 28, by a vote of six to three. The bill hasUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-5563616764260203180.post-18249803717049525622011-06-09T14:57:00.000-07:002011-06-09T14:57:32.117-07:00Benefit Corporation and Flexible Purpose Corporation Legislation PassIn their respective next steps towards becoming law, California's two separate pieces of legislation providing for a social corporate form passed their individual next hurdles, when the Benefit Corporation legislation (AB361) passed the Assembly and the Flexible Purpose Corporation (SB201) passed the Senate.
AB361 passed the Assembly on May 26, by a vote of 58 to 17, with 5 Assembly members not Unknownnoreply@blogger.com5tag:blogger.com,1999:blog-5563616764260203180.post-13980110180133835542011-04-17T13:30:00.000-07:002011-04-17T13:30:22.460-07:00California Senate Judiciary Committee Passes the Corporate Flexibility Act of 2011This week, California moved one step closer to adopting the new Flexible Purpose Corporation, when the Senate Judiciary Committee passed the legislation. Next stop, the full Senate.
Please consider offering your support for this important legislation, by signing the petition, linked below.
Petitions by Change.org|Start a Petition »
*Todd is a partner at the law firm of Jones Day, where he Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-5563616764260203180.post-57194818615696995462011-03-21T12:44:00.000-07:002011-03-21T12:44:50.333-07:00California's Benefit Corporation Legislation (AB 361)By R. Todd Johnson*
Assemblyperson Jared Huffman introduced his much-awaited amendment to AB 361 last week, providing for the California version of the Benefit Corporation.
*Todd is a partner at the law firm of Jones Day, where he founded their Silicon Valley Office and runs their Renewable Energy and Sustainability Practice. The views expressed in this column are solely Todd’s personal views, Unknownnoreply@blogger.com3tag:blogger.com,1999:blog-5563616764260203180.post-89931962747856738862011-03-07T10:57:00.000-08:002011-03-07T16:23:00.682-08:00Everything You Ever Wanted to Know About the Flexible Purpose Corporation (And Then Some)
Frequently Asked Questions
Proposed Amendments to the California Corporations Code for a New Corporate Form: The Flexible Purpose Corporation and Senate Bill 201February 23, 2011by W. Derrick Britt (Working Group Co-chair), Partner, Doty, Barlow, Britt, and Thomas, LLP,R. Todd Johnson (Working Group Co-chair), Partner, Jones Day, Susan H. MacCormac (Working Group Co-chair), Partner, MorrisonUnknownnoreply@blogger.com10tag:blogger.com,1999:blog-5563616764260203180.post-19420884694418178522011-03-03T17:49:00.000-08:002011-03-04T01:23:26.985-08:00The Freedom to Choose -- California May Be the First State to Offer a Choice to Social Entrepreneursby R. Todd Johnson*
In a prior post, I noted that California Senator Mark DeSaulnier had introduced the Corporate Flexibility Act of 2011. His bill is a reintroduction of the bill he introduced during the last session of the Assembly (before Maryland and Vermont had taken any action on the Benefit Corporation legislation that has since passed in both states). Unfortunately for California Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-5563616764260203180.post-42090692910975768002011-02-20T16:18:00.000-08:002011-02-23T19:44:37.673-08:00Why Do We Need a New Corporate Form?by R. Todd Johnson*
[The following piece was drafted as part of a "Frequently Asked Questions" piece to be distributed by the co-chairs of the California Working Group on New Corporate Forms, which should be published within the next several weeks.]
Why Consider Alternatives to Traditional Corporations and LLCs?Over the past decade or more, the previously episodic examples of company’s pursuingUnknownnoreply@blogger.com1tag:blogger.com,1999:blog-5563616764260203180.post-56890275868662110912011-02-09T10:23:00.000-08:002011-02-09T10:23:03.063-08:00New Legislation Introduced to Create For-Benefit CorproationsCalifornia Senator DeSaulnier yesterday introduced the latest legislation in the trend to create alternatives corporate forms for entrepreneurs who desire to mix money and mission in a for-benefit corporation. The Corporate Flexibility Act of 2011 continues the trend among states recognizing that the existing choices of for-profit and not-for-profit leaves entrepeneurs who seek a blended Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-5563616764260203180.post-6986159505842560182010-10-21T17:48:00.000-07:002010-10-21T17:54:57.683-07:00The Social Responsibility of Business is to Increase its Profits and More! Revisiting Milton Friedman Forty Years LaterMy apologies to faithful readers, as you may have seen some of this before. I wrote this piece in hopes that the New York Times would celebrate the 40th anniversary of Milton Friedman's piece and run it in their magazine. I've since given up hope.
by R. Todd Johnson
The businessmen believe that they are defending free enterprise when they declaim that business is not concerned “merely” Unknownnoreply@blogger.com8tag:blogger.com,1999:blog-5563616764260203180.post-56406073338256042922010-09-13T16:14:00.000-07:002010-09-13T16:14:02.870-07:00Revisiting Milton Friedman's Thinking, 40 Years LaterToday is the 40th anniversary of Milton Friedman's oft-cited piece in the New York Times Magazine, titled "The Social Responsibility of Business is to Increase its Profits." Over the coming week or so, we plan to review the thinking contained in this article and some of the other writings of Dr. Friedman, particularly within the context of whether a corporation can do "Business for Good."
But forUnknownnoreply@blogger.com4tag:blogger.com,1999:blog-5563616764260203180.post-71751719762361117222010-09-02T14:57:00.000-07:002010-09-02T14:57:45.420-07:00New Corporate Forms2010 will likely be remembered as the year in which states began looking at their powers in chartering companies in a new light. And for the entrepreneur looking for the opportunity to blend the values of doing well and doing good, this is very good news indeed.
First, a little reminder. As I've said before, we must move past the idea that organizational structures are "either" about maximizing Unknownnoreply@blogger.com3tag:blogger.com,1999:blog-5563616764260203180.post-52617798432143004652010-08-11T17:25:00.000-07:002010-08-11T18:06:19.848-07:00Reflections from Ethiopia: Is Philanthropy Killing Africa? (Part II)by R. Todd Johnson
When I posted this question several weeks ago, I never anticipated it would touch a nerve. Now I'm receiving comments here, here, here and (of course) right here. Not surprisingly, the responses span the spectrum.
One commenter noted, "That philanthropy is harmful to Africa should by now be a given for anyone who’s heard the Hippos vs Cheetahs pitch from George Unknownnoreply@blogger.com5tag:blogger.com,1999:blog-5563616764260203180.post-64215452371629552262010-07-20T15:18:00.000-07:002010-07-27T15:44:27.523-07:00Reflections from Ethiopia: Is Philanthropy Killing Africa?by R. Todd Johnson
My latest post on Law For Change -- Legal Resources (http://www.lawforchange.org/)
I just returned from my seventh trip to Ethiopia and I've been back in the United States for less than 48 hours. After only 120 days spent in Africa, I'm hardly an expert on anything that is happening or has happened there. And yet, I have a few impressions that seem worth sharing, particularlyUnknownnoreply@blogger.com16