About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

9 Ohio St. Entrepren. Bus. L.J. 173 (2014-2015)
To B or Not to B: Why Ohio Should Enact Benefit Corporation Legislation to Protect Small Businesses in Ohio Who Wish to Make a Profit While Making a Difference

handle is hein.journals/eblwj9 and id is 179 raw text is: To B OR NOT TO B: WHY OHIO SHOULD ENACT BENEFIT CORPORATION LEGISLATION TO PROTECT SMALL BUSINESSES IN OHIO WHO WISH TO MAKE A PROFIT WHILE MAKING A DIFFERENCE JACOB B. PUHL* I know it sounds crazy, but every time I have made a decision that is best for the planet, I have made money. Our customers know that-and they want to be part of that environmental commitment.1 I. INTRODUCTION Over the past few years, there has been a vast global movement in favor of social entrepreneurship, or supporting businesses that promise some sort of social benefit. Consumers, founders and investors are more interested in companies claiming goals that rise above a focus on profits. Consumers flock to stores like Whole Foods, buy shoes like Toms and support collaborative efforts from groups like Product Red.2 Consumers even went out of their way to purchase jackets from Patagonia after the company urged consumers to buy less. According to a 2007 study conducted by investment banking firm Goldman Sachs, fifty-two percent of American consumers actively seek information about the corporate social responsibility of the businesses they plan to support.4 The trend has continued to grow since then, with even the largest initial public offering (IPO) of the year jumping on board. When Twitter went public on November 7, 2013, they could have had any individual ring * J.D. Candidate, The Ohio State University Moritz College of Law, anticipated 2015. 1 Liz Welch, The Way I Work: Yvon Chouinard, Patagonia, INC. (Mar. 12, 2013), http://www.inc.com/magazine/201303/liz-welch/the-way-i-work-yvon-chouinard- patagonia.html (statement of Yvon Chouinard, Founder and Owner, Patagonia). See RED, http://www.red.org/en/leam/manifesto (last visited Apr. 4, 2014); ToMS SHOES, http://www.toms.com/our-movement/1 (last visited Apr. 4, 2014); WHOLE FOODS MARKET, http://www.wholefoodsmarket.com/mission-values (last visited Apr. 4, 2014). Kyle Stock, Patagonia's 'Buy Less Plea Spurs More Buying, BLOOMBERGBUSINESSWEEK (Aug. 28, 2013), http://www.businessweek.com/articles/2013-08-28/patagonias-buy-less-plea-spurs- more-buying. 4 GLOBAL INv. RESEARCH, GOLDMAN SACHS, INTRODUCING GS SUSTAIN 22 (2007).

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most