Wiggin and Dana Helps Goodstreets to Become One of the First Benefit Corporations in The State of Connecticut

Wiggin and Dana Helps Goodstreets to Become One of the First Benefit Corporations in The State of Connecticut

October 02, 2014 // Franchising.com // New Haven – Wiggin and Dana assisted client GoodStreets, Inc. with the preparation of the legal paperwork to become one of the first benefit corporations in the State of Connecticut on October 1, 2014, the day that the Connecticut Benefit Corporation Act took effect.

The benefit corporation is a new legal structure in Connecticut that allows companies to focus on profitability for shareholders while also pursuing socially minded objectives. As a benefit corporation, a business is provided certain legal protections, accountability, and a level of transparency that had been very expensive and time-consuming to obtain previously. The goal of this new legislation is to enable social entrepreneurs to catalyze a new wave of commercial innovation, job creation and economic development.

The Connecticut Benefit Corporation Act was passed on Monday, May 5, 2014. Connecticut is the 26th state in the nation to pass benefit corporation legislation. The inclusion of an optional "legacy preservation provision," which is unique to Connecticut's Act, makes it the most comprehensive version of benefit corporation legislation in the nation.

GoodStreets offers an online platform and services to connect local businesses and consumers. For more information about GoodStreets' filing, please go here [http://www.wiggin.com/Files/29506_Media-Alert-Benefit-Corp.pdf] to view their press release.

SOURCE Wiggin and Dana 

###

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Perkins Restaurant & Bakery
In today's market, the opportunity to buy a Perkins® couldn't be better for experienced restaurateurs interested in aligning with a concept that has...
Pancheros Mexican Grill
Panchero's is a quick-serve, fresh-Mexican franchise founded in 1992, famous for serving tortillas pressed fresh right before its customers' eyes...
TEFL
If you are looking to start your own online business that is rewarding and helps others, then invest in iTEFL, a quality education and tutoring...
Kiddie Academy
Educational Child Care Franchise. Kiddie Academy is one of the nation's most respected providers of quality educational child care.
The Brass Tap
Think of our brand as your neighborhood craft beer bar – only not your typical bar experience. We have optimized each of The Brass Tap’s...
Share This Page

Subscribe to Franchising Express

A Franchise Update Media Production
Franchise Update Media
P.O. Box 20547
San Jose, CA 95160
PH. (408) 402-5681
In Loving Memory Of Timothy Gardner (1987-2014)

Copyright © 2001 - 2018.
All Rights Reserved.