Benefit Company Law
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.
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.
Attorneys
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.
6.22.2018
David Forman and Adam Adkin Discuss Benefit Companies for OSB Nonprofit Newsletter
Tonkon Torp business attorneys David Forman and Adam Adkin had an article published in the spring issue of the Nonprofit Organizations Law Section of the Oregon State Bar Newsletter. In their article, "Private Businesses Benefiting the Public: Oregon…
4.30.2018
Tonkon Talk Unpacks Oregon Benefit Companies
At the March 7 Tonkon Talk, Tonkon Torp business attorneys Jeff Cronn and Adam Adkin hosted a discussion on Oregon Benefit Companies. They discussed the ins and outs of organizing and operating as a Benefit Company, and used examples of Oregon…
4.29.2014
Tonkon Torp Practice Group Supports Businesses Seeking Benefit Company Status
Tonkon Torp business lawyers have formed a practice group specializing in helping Oregon business owners obtain formal registration as a Benefit Company. The registration reflects a company’s commitment to a triple bottom line of social…
2.24.2014
Cronn & Materazzi Address Corporate Social Responsibility Questions
Tonkon Torp business lawyers Jeff Cronn and Marco Materazzi recently presented a continuing legal education seminar on Corporate Social Responsibility Reporting (CSR).
Cronn and Materazzi examined why companies engage in CSR reporting, and…
6.26.2013
Tonkon Torp Contributes Expertise to Benefit Company Legislation
When Governor John Kitzhaber signed House Bill 2296 into law last week, Tonkon Torp attorneys Jeffrey Cronn and Marco Materazzi were on hand for the ceremony. The two business lawyers played an active role in crafting the Oregon legislation which…
