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6 J. Marshall L.J. 627 (2012-2013)
Re-Engineering Georgia's Corporate DNA: A Benefit Analysis and Practicality Assessment for Benefit Corporation Legislation in Georgia

handle is hein.journals/jmlwj6 and id is 643 raw text is: COMMENT RE-ENGINEERING GEORGIA'S CORPORATE DNA: A BENEFIT ANALYSIS AND PRACTICALITY ASSESSMENT FOR BENEFIT CORPORATION LEGISLATION IN GEORGIA TABLE OF CONTENTS I. INTRODUCTION ............................................ 628 II. OVERVIEW .................................. ........ ........... 632 A. BriefHistory of the Traditional Corporate Structure.............. 632 B. Emergence of the Hybrid Entity ............ .......... 635 1. The Genesis of Experimentation ........... .......... 635 2. National Prevalence ofBenefit Corporation Laws........... 638 III. COMPREHENSIVE ANALYSIS FOR THE CREATION OF B-CHARTER STATUS IN GEORGIA ....................................... 638 A. Shareholder Wealth Maximization Norm Revisited................ 640 B. Fundamental Value ofB-Corps............................. 641 C. Particularized Social Value to Georgia ........................ 647 D. Criticisms Against B-Corp Legislation and Responses........... 650 1. B-Corps' Dual Purposes Are Bad for Business ................ 651 2. B-Corps Lack Investment Appeal.... .................. 652 3. B-Corps Are Disadvantaged in a Market Economy.......... 653 4. Legal Uncertainties Concerning the B-Corp Entity.......... 655 5. Third-Party Standard Requirements Concerns................. 657 6. Response to Asserted Lack ofNeed for B-Corp Laws....... 658 IV. PRACTICAL MODEL FOR GEORGIA BENEFIT CORPORATIONS........ 661 A. Procedural Formation ofB-Corps ............ ....... 662