Angela Lee, “Vague, Voluntary, and Void: A Critique of the British Columbia Community Contribution Company Hybrid Model”
In today’s world, markets eclipse governments in terms of economic activity; consequently, the influence that corporations have on our political, economic, environmental, and social realities is significant. As concern about the increasing size, scope, and impact of corporations has proliferated, there has been mounting pressure on corporations to exercise responsibilities as well as rights, as evidenced by the growth of the corporate social responsibility and social enterprise movements. Partly as a result of this pressure, as well as its own internal stresses, corporate law has been undergoing a period of tumult.
Hybrid corporate models have been one response to the cries for change, and British Columbia (BC) recently became the first jurisdiction in Canada to formally adopt such a model. This article compares and contrasts BC’s Community Contribution Company with other, more established hybrid models in the United States and the United Kingdom, and finds the BC model lacking on three grounds – it is vague, voluntary, and void. Despite these concerns, this article examines the opportunities for hybrid models as well as the challenges posed, arguing that the values that hybrid models strive towards represent the kind of shift that is necessary in order to realize a more sustainable system.
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