New York Benefit Corporations at 5 Years Old: A Look Back & a Peek into the Future

Program Co-Chairs:

Michael E. Schiffres | Attorney at Law

David M. Silk | Wachtell Lipton Rosen & Katz

• Description
• Faculty
• Agenda
• CLE Credit
• Sponsors

• At the end of 2011, New York became the seventh state to authorize corporations formed with a purpose of creating general public benefits – known as “benefit corporations.” Several dozen benefit corporations have now been created in New York, and over thirty states have adopted statutes authorizing similar corporations. This program will bring together representatives of the legal and benefit corporations communities, including lawyers for and officers of benefit corporations and institutions that monitor the public benefit provided to review lessons presented by New York’s history of benefit corporations and to consider new directions that may be taken by these companies.

  DVDs & CDs: $99 Member | $199Nonmember
  On-Demand: $69 Member| $169 Nonmember
  Materials Only (No CLE Credit): $99 Member | $129 Nonmember

  * New York residents will be charged the New York sales tax for all audio visual purchases.

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• Rick Alexander
  Head of Legal Policy
  B Lab

  Allen Bromberger
  Perlman & Perlman

  Michael Dimin
  Founder
  Sea to Table, LLC

  Michal Rosenn
  General Counsel
  Kickstarter

  Kyle Westaway
  Managing Partner
  Westaway

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• 6:00 pm – 6:15 pm	Speaker Introduction/Experience with Benefit Corporations
  6:15 pm – 6:45 pm	Why Benefit Corporations Matter What is a benefit corporation? Why would a corporation elect to become a benefit corporation? A benefit LLC? Why should a state enable benefit corporations? Why aren’t constituency statutes enough? Why aren’t non-profits?
  6:45 pm – 7:05 pm	New York’s Experience: Celebrating the Five-Year Anniversary of Article 17 of the New York Business Corporation Law How is New York’s experience different from other states that have, or have not, enabled Benefit Corporations (in particular, Delaware)? Discussion of benefit reports – how to prepare, how to review.
  7:05 pm – 7:35 pm	Life as a Benefit Corporation: Management Perspectives What are the challenges and opportunities from managing a benefit corporation? What challenges do directors face from a fiduciary duty perspective? What are the challenges to taking a benefit corporation public?
  7:35 pm – 8:00 pm	Closing remarks and Q&A

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• This program provides 2.0 credits in professional practice for the New York & New Jersey MCLE requirements. California & Pennsylvania credit differs as it is based on a 60-minute credit hour. The live program provided transitional credit to newly admitted attorneys; the recording does not provide transitional credit.

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• Sponsoring Association Committee: Corporation Law | David M. Silk, Chair

  Sponsorship Opportunities are Available! Please Contact:
  Maricela Alfonso| Membership and CLE Relations Associate| (212) 382-6608 | MAlfonso@nycbar.org

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