Viability of Non-Recognised Benefit Corporations
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Universitat de València
info
- Henry Peter (coord.)
- Carlos Vargas Vasserot (coord.)
- Jaime Alcalde Silva (coord.)
Éditorial: Springer Suiza
ISBN: 978-3-031-14215-4, 978-3-031-14216-1
Année de publication: 2023
Pages: 339-353
Type: Chapitre d'ouvrage
Résumé
This chapter assesses the viability of benefit corporations within jurisdictions that have not enacted regulations on the issue. In Roman-Latin systems, including Spain, profit is considered to be the cause of the contract from which a company arises. As a result, profit shall be the only purpose of a company. Throughout the 20th century, the academic discussion fostered the view that such a restrictive approach to profit should be abandoned in favour of a more flexible notion of company. Accordingly, these may pursue a wider range of lawful purposes, including ideal or non-profitable goals. Such a flexible approach is supported by most of the legal scholarship although courts maintain a more restrictive view. This chapter reviews the academic debate and sustains the view that benefit corporations may be formed without prior legislative intervention even in jurisdictions that have traditionally applied a for-profit requirement.