Beginning on January 1, 2012, you can form a stock corporation (for profit) under two new subtypes in California. Such subtypes include a “flexible purpose corporation” and a “benefit corporation.” These new corporation subtypes allow you to organize your stock corporation so that it can pursue both economic as well as social objectives. In the past, a corporation could be formed either to pursue profitable endeavors or as a nonprofit corporation which must be operated solely to promote social and public benefit.

For further information on business formations and more please contact the Irvine Attorneys at Yanez & Associates at 714-665-8322. We offer a free initial consultation of 60-minutes. Call today to schedule a consultation with a lawyer at our firm.