Explainer: Why OpenAI plans transition to public benefit corporation

Contributing sentiments towards policy:

58% : DIFFERENCE BETWEEN A PBC AND OTHER CORPORATE STRUCTURES Unlike PBCs, non-profit corporations do not have shareholders and reinvest profits into their mission rather than distributing them to individuals. PBCs do not receive special tax exemptions or incentives, while non-profits are generally exempted from federal income taxes if they meet certain requirements. LIMITATIONS OF PBCs Becoming a benefit corporation does not guarantee a company will put its stated mission above profit, as the law only legally requires the board to "balance" its mission and profit-making interests, said Ann Lipton, a corporate law professor at Tulane Law School.

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