Kickstarter — Case Study of a Public Benefit Corporation

Startup LAWnchpad  is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.

 

Episode Description:  Adam Mengler (Fordham Law ‘19) interviews Chris Mitchell (Fordham Law ‘00), General Counsel of Kickstarter—a Public Benefit Corporation and Certified B Corporation—to discuss the benefits and challenges that come with forming a benefit corporation.

 

Episode Roadmap:

• [:30] Adam Mengler introduces himself and Chris Mitchell, General Counsel of Kickstarter.
• [2:30] Chris Mitchell explains what a benefit corporation is and the associated legal obligations.
• [4:17] The benefits of transitioning to a benefit corporation.
• [5:41] Balancing charter goals with a company’s financial interests.
• [9:52] Challenges that benefit corporations face when raising money.
• [10:40] Considerations for companies before becoming a benefit corporation.
• [13:34] The effects of being a benefit corporation on the company’s attorneys.
• [14:47] Nurturing an entrepreneurial spirit and Chris Mitchell’s favorite books.

 

Tweetables:

• “The PBC form formalizes several long-standing Kickstarter beliefs and priorities.” — Chris Mitchell

 

• “I’m always referencing back to the charter; making sure that all of our commitments are being fulfilled, not just the profit maximization ones.” — Chris Mitchell

 

• “[Becoming a PBC] is not quite as daunting as people may realize, and I think it’s incredibly beneficial.” — Chris Mitchell

 

Mentioned in This Episode:

• Chris Mitchell
• Kickstarter
• Kafka on the Shore by Haruki Murakami
• The Good Life Lab- Radical Experiments in Hands-On Living by Wendy Jehanara Tremayne

 

Additional Resources:

• Fordham’s Entrepreneurial Law Clinic
• Follow us on Twitter @FordhamELC

 

Sponsors:

• Nasdaq Educational Foundation
• Fordham’s Entrepreneurial Law Advisory Council

 

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