The Revival of Corporate Purpose: Shaping a New Era of Accountability
The article explores the history and importance of the corporate purpose clause in legal documents. It shows how corporations have expressed their goals and values over time, from early charters to modern practices. The research reveals that despite changes in how companies define their purpose, the purpose clause remains a crucial reflection of the collaboration between public and private interests. It also highlights how stating a clear purpose in the corporate charter can impact corporate behavior and legal obligations, especially in the context of benefit corporations.