Stephen Bainbridge on Corporate Purpose
In this episode, Stephen M. Bainbridge, William D. Warren Distinguished Professor of Law at UCLA College of Law, discusses his article "BRT, Stakeholders and Corporate Purpose," which was published in The Corporate Board. Bainbridge begins by describing the current consensus on the legal obligations of board members, or the lack thereof. He explains why he disagrees with scholars who argue that board members should have duties to both shareholders and stakeholders. And he reflects on what his position means, as a practical matter. Bainbridge is on Twitter at @PrawfBainbridge.