Norris McLaughlin & Marcus, P.A.

Blogs > Business Without Borders

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Feb 15, 2017

INTRODUCTION TO US BENEFIT CORPORATIONS: US Subsidiaries of Foreign Parents Doing Good by Bridging Profitability and Responsible Business – PART II

Part II: Legal Structure and Requirements

As discussed in Part I of this series, business owners are increasingly choosing to pursue the B-corporation form to combine their companies’ for-profit and public benefit purposes.  B Lab, the independent non-profit that certifies B-corporations’ social and environmental benefits, recently reported increased instances of B-corporations forming outside the United States, and the B-corporation form may also help attract investors from around the world. » Read More

Feb 13, 2017

INTRODUCTION TO US BENEFIT CORPORATIONS: US Subsidiaries of Foreign Parents Doing Good by Bridging Profitability and Responsible Business

Part I: Background

In 2006, Yvon Chouinard, the founder of sportswear giant Patagonia, published a corporate memoir that would equally inspire board members in three-piece suits and surfers in wetsuits.  Let My People Go Surfing: The Education of a Reluctant Businessman attempts to reshape the way we think about business, and Chouinard leads by example.  He writes, “Who are businesses really responsible to? » Read More

Dec 16, 2015

The Fed Finally Moves – A 0.25% Interest Rate Hike

Fed Chair Janet Yellen announced this afternoon the much anticipated increase in its benchmark interest rate from zero to 0.25%. While many of the US economic sectors have improved, the Fed has been concerned about the low inflation rate. Notwithstanding that concern, the Fed unanimously agreed to the rate hike, noting in its policy statement that “the Committee judges that there has been considerable improvement in labor market conditions this year, and it is reasonably confident that inflation will rise over the medium term to its 2 percent objective.”

The increase in the Fed’s benchmark rate ends its quantitative easing program that has been going on for the better part of a decade.» Read More

Dec 09, 2015

FASB and International Accounting Standards Board Provide Breathing Room to CFOs

2016 will require CFOs to address changes in accounting standards both in the US and for companies engaged in international commerce. The rules regarding Revenue Recognition, Lease Accounting, Insurance Contracts and Corporate Tax are on tap for CFOs to address in 2016 and 2017.

With respect to Revenue Recognition, the Wall Street Journal reported on Tuesday, December 7 that “CFOs received some breathing room when the Financial Accounting Standards Board disclosed it would allow companies to wait until 2018—instead of 2017—to adopt rules governing how they account for deferred revenue from everything from cellphone contracts to car sales to software.» Read More

Oct 16, 2015

On October 6, 2015, the European Court of Justice Declared as “Invalid” the US-EU Safe Harbor Framework as it applies to the “Adequacy Standard”

In October, 1998, the European Commission put into effect its Directive on Data Protection, intended to prohibit the transfer of personal data to non-EU countries that do not meet the EU “adequacy standard” for the protection of personal data.  The EU’s approach from inception has been different than that of the US for the protection of personal information.  The EU approach is based upon comprehensive legislation and regulations that created independent governmental data protection agencies and the requirement that databases be registered with those agencies. » Read More

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