Benefit company legislation comes to Canada
Posted September 11, 2020
Canadian businesses now have a corporate vehicle for evolving stakeholder capitalism
Valerie Mann, ICD.D, partner, Lawson Lundell LLP
Chat Ortved, partner, Lawson Lundell LLP
It was one year ago that the Business Roundtable, an influential group of CEOs of large American companies, reversed its commitment to the “primacy” of shareholders, endorsing instead “a fundamental commitment to all of our stakeholders.” This pivot arose from a landmark shift in thinking about the role of corporations in a free market economy, in which corporate leaders are recognizing the importance of long-term value over short-term expediency and the absolute necessity of a more inclusive prosperity.
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