Paper's abstract

Kevin Levillain, The emergence of new forms of companies: The example of the Flexible Purpose Corporation
The adoption of two new corporate forms in California could introduce a significant enrichment in commercial law. While maintaining the greatest possible proximity with traditional companies, their designers have equipped them with a new attribute: the inclusion, in their statutes, of a mission other than profit. We show that this innovation introduced by practitioners, in response to a failure of U.S. law to accommodate a class of collective projects combining profit and social and environ-mental objectives. It opens a new path based on an enrichment of the social object, which then becomes a central point of governance, as well as a theoretical key variable to describe a set of alternatives to conventional forms of companies.

Key Words : Flexible purpose corporation, statute
t. 56, 2013 : p. 321-336

---