BenefitCorporation
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Kickstarter is legally obliged to give back to society
Crowdfunding platform Kickstarter is reincorporating as a "public benefit corporation" (PBC). What does that mean? Well, it's a confusing term, and one that's defined differently depending on which state you're in. Loosely speaking, it's supposed to mean that a company operates both for profit and for the betterment of society. As part of the change, the company will be registered in Delaware -- which added PBCs into state law two years ago today -- rather than its native New York. Kickstarter has been a voluntary B-corp (benefit corporation) since last year, but by becoming a Delaware PBC it's turning an optional pledge into company law. With the switch comes a new charter, and it's in there that we see exactly how Kickstarter acts in our best interests.
