New Corporate Forms – Flexible Purpose Corporations, B Corps and L3Cs
What works, what doesn't and what will move the needle on Environmentally Sustainability and Why
Tuesday, Wednesday, February 7
6:00-6:30 pm Networking, Gallagher Hall Foyer
6:30 p.m. Talk with Susan Mac Cormac, Gallagher Hall, Room 1213
Child Family Institute for Innovation and Entrepreneurship
UC Davis Law School
UC Davis Business Law Journal
Davis Net Impact
Join us to hear an update from a leading expert on the new “Flexible Purpose Corporation” laws (SB201) that provide social entrepreneurs with two additional forms of entities to consider when creating their social enterprises and represents a tremendous step forward for businesses looking to factor social good into their traditional bottom line.
About Susan Mac Cormac
Susan Mac Cormac is a partner in the Corporate Group of Morrison & Foerster’s San Francisco office. She serves as co-chair of the Firm’s 550 lawyer Business Department, and co-chair of the Cleantech Group. She has extensive experience representing start-up to late-stage private companies primarily in the Cleantech or sustainable space, including Arcadia, ClimateEarth, driptech, ElectraTherm, enXco, OneSun, Revolution Foods, and SourceTrace. She also represents impact investors such as Capricorn/Virgo, Brightpath Capital Partners, Pacific Community Ventures, RSF Social Finance, and OPIC. She provides corporate and finance advice in connection with mergers, acquisitions, asset purchases and sales, reorganizations, joint ventures, and equity and debt financings. She regularly advises boards of private and public companies on corporate governance as it relates to sustainability and Corporate Social Responsibility (“CSR”) issues and has joined the faculty (teaching on issues of sustainability and corporate governance) at both the Stanford Director’s College and the Northwestern Corporate Counsel Institute. Ms. Mac Cormac also represents nonprofit corporations involved with Sustainability and CSR, providing advice to their boards on fiduciary issues, conflicts of interest, and other corporate matters.
Ms. Mac Cormac was recognized by the Daily Journal as one of the Top Female Attorneys in California (May 2011) and as one of the Top 25 Clean Tech Lawyers in California (March 2011). She was named to The American Lawyer’s “45 Under 45″ list of outstanding women lawyers (January 2011) and selected by her peers for Best Lawyers in America 2011. Ms. Mac Cormac was also recognized by clients in Legal 500 United States 2009 and 2010 for her expertise working with venture capitalists and emerging companies. Ms. Mac Cormac serves as co-chair of the Working Group and has spent 500 pro bono hours over the past three years drafting a new corporate form for California; now SB201. The new form of for-profit corporation proposed, also known as the Flexible Purpose Corporation, encourages and expressly permits companies to be formed or converted from other forms to pursue one or more purposes in addition to creating economic value for shareholders, pursuant to lawful acts or activities for which a corporation may otherwise be organized under the California General Corporation Law.