Do good or make money? Now Alabama entrepreneurs can do both
Today 8:17 AM
Today’s guest columnists are Patrick J. Murphy and Jonathan Murphy.
In January 2021, a law went into effect in Alabama that allows the formation of a new kind of business entity called a “benefit corporation.”
Forming a benefit corporation allows a business to pursue financial value and social value simultaneously, without violating its fiduciary obligations to its shareholders.
As an endowed chair professor and director of entrepreneurship at UAB who has trained entrepreneurs around the world for decades, and as an Alabama attorney well-versed in the new law and active in growing the state’s entrepreneurial ecosystem, we are excited about this news and what it means for the future of entrepreneurship in our state.