S2, Episode 2: Kickstarter – Case Study of a Public Benefit Corporation

Season Two: Episode TwoConsiderations and advice for forming a public benefit corporation from one of the most successful benefit corporations in the world.

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:

Additional Resources: 

Sponsors: 

 

Disclaimer: The information contained in the Startup LAWnchpad podcast and any materials associated therewith (the “Podcast”) is for educational, informational, and entertainment purposes only. It does not constitute legal advice or tax advice with respect to any particular circumstance. The Podcast is not a complete overview or analysis of the topics presented, and may contain information that varies in different jurisdictions and is subject to revision, interpretation, or nullification after the date of recording. The transmission of information to you does not create a lawyer-client relationship between you and any host, guest, or their respective employer, including but not limited to Fordham University School of Law and Lincoln Square Legal Services, Inc. None of these parties shall be liable for any loss that may arise from any reliance on the Podcast. You should not rely upon the Podcast or treat it as a substitute for legal advice. You should consult a lawyer familiar with your particular circumstances and licensed in your jurisdiction for legal advice.

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.