Tonkon Torp’s Benefit Company lawyers help organizations formally adopt governing documents that include commitment to a triple bottom line of social responsibility, economic prosperity, and environmental stewardship.
Under Oregon law, Benefit Company registration allows business owners to include in their company’s governing documents a commitment to provide a positive impact on society and the environment as primary business purposes.
Benefit Company status comes with expanded duties for directors, officers, and managers, and requires specific documentation regarding the purpose, accountability, and transparency of the organization. We’re particularly well positioned to assist our clients in these matters. Tonkon Torp corporate lawyer Jeff Cronn worked with a team of lawyers and legislators to craft the Oregon Benefit Company legislation, and attorney Justin Denton helped Rogue Creamery become the first Oregon business to register as a Benefit Company.
Our attorneys guide clients on what it means to become a Benefit Company and how to operate as one. We assist in preparing and filing appropriate charter documents with the State of Oregon, select a third-party standard to measure positive impact, and help with the publication of an annual benefit report. We also advise clients on potential exposure associated with Benefit Company status, whether due to complaints from customers, shareholder activists, the community, securities regulators, or others.
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Tonkon Torp Helps Create Oregon Benefit Companies
Tonkon Torp client Rogue Creamery became the first Oregon enterprise to become a Benefit Company on January 1, 2014, the date Oregon’s new law went into effect. Find details and more featured cases here.
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