Public Benefit LLC
A Delaware LLC structure that includes a stated public benefit purpose alongside profit-making.
Definition
Delaware permits Public Benefit LLCs (PBLLCs) that combine for-profit operations with stated public-benefit purposes. Members may consider public benefit in addition to profit. Codified at 6 Del. C. § 18-1201.
Context
PBLLC structure useful for mission-driven for-profit businesses (social enterprise, environmental, education).
Example
A founder building a social-impact education platform forms a Delaware Public Benefit LLC with stated public benefit of expanding access to high-quality education.
Common pitfalls
- Requires explicit public-benefit purpose in Certificate of Formation.
- Reporting obligations include benefit-purpose progress.