Be Good

Philadelphia partner Doug Raymond’s latest column for Directors & Boards, written with the assistance of Philadelphia associate Lizzie Babson, was published in the March 2012 issue of the magazine.

Doug, a partner in the firm’s Corporate and Securities Practice Group, tracks a shift in the predominant focus for corporate action. While it has generally been accepted that “the primary purpose and role of corporations is to create shareholder value,” in recent years, some have advocated the view that business has a responsibility to people and the environment, as well as to profits. The Benefit Corporation structure is a response to this trend that provides flexibility for boards to think and act beyond profit maximization.