alt Hacker NewsCorporate charters require companies follow the law and make profit. Beyond following the law, what are citizen duties?
Public benefit corporations seem to go nowhere far enough. And I wonder if the language is intentionally vague at the outset.
For example:
> Beyond following the law, what are citizen duties?
Simple example: let’s say there’s an environmental law preventing corporation to make more profits. The good citizen should not try lobbying to repeal this law, even if this would be perfectly legal and lead to better outcome for shareholders. If CEO acts as good citizen and refuses to follow advice of the board and take this route, this should be legally defensible position.