Jon Nygren in the Star Tribune on Investors Ponying Up for the Common Good

Beginning in January 2015, Minnesota entrepreneurs will be able to incorporate ventures as "public benefit corporations," which will allow for public benefit to be a chief purpose in the venture in addition to the traditional goal of maximizing profit for shareholders.

Faegre Baker Daniels partner Jon Nygren spoke to the Star Tribune about the future of benefit corporations in Minnesota. Nygren, who focuses his practice on corporate governance and general corporate issues for public and private companies, said that filing as a benefit corporation could make it easier to attract third-party investors. Nygren underscored that entrepreneurs seeking this route should ensure that the proposed public benefit is something that people with money to invest also want, and that there should be adequate flexibility in initial documents for the board to exercise its judgment.