In recent years, there has been growing pressure on profit-seeking corporations to pursue social goals. In light of the pandemic, social inequalities, and growing concerns about climate change, this trend will likely increase. This class will critically evaluate the law and policies underlying recent developments that have allowed or required firms to take on a more active role in social and environmental issues. The class covers a range of topics, including the economic structure of nonprofit firms, the debate on corporate purpose and the profit-maximization norm, the rise of ESG investing, the proliferation of new legal hybrid forms, recent developments in the law of managerial fiduciary duties, the role of microfinance and fair trade in promoting development, and tax and subsidy policies to encourage corporations to pursue social goals, including the recent Opportunity Zone program. The inquiry will focus primarily on what types of structures best align investors’ interest in profit-making with different social purposes. Business Associations is a prerequisite for this class (except for LLM students who are taking Business Associations in the same semester).
Business Associations is a prerequisite for this class (except for LLM students who are taking Business Associations in the same semester).
|Course Areas of Practice|
Knowledge and understanding of substantive and procedural law