On Monday, Wisconsin enacted legislation allowing companies to incorporate as benefit corporations. Although this may sound like routine, small-time legislative business, it is just as significant as major policy initiatives being debated in the halls of Congress. On issues from net neutrality to workers’ rights, corporations are perceived to—and often do—engage in practices that maximize profits at the expense of their workers and the general public. Benefit corporations are trying to change that.
In passing benefit corporation legislation, Wisconsin businesses will have the opportunity to ensure that their companies’ decisions provide returns for shareholders, employees, and society at large. In a nutshell, this legislation could revolutionize the way the private sector works. Read the full story here.