U.S. Trade Unionism and Social Enterprise

The social enterprise movement created a new corporate governance regime that gives employees/stakeholders and a particular social or environmental goal equal fiduciary standing to that of shareholders. That is, the very basis for the so-called social enterprise movement is founded on a fundamental...

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Bibliographic Details
Published in:The Journal of corporation law 2021-01, Vol.46 (2), p.503-520
Main Author: Sharp, Kevin T
Format: Article
Language:English
Subjects:
19th century
20th century
Capitalism
Collective bargaining
Corporate governance
Directors
Economic analysis
Employees
Enforcement
Fiduciary duties
Hearings & confirmations
Labor relations
Labor unions
Law
Laws, regulations and rules
Organizing
Profits
Public interest
Social enterprises
Social entrepreneurship
Stakeholders
Stockholders
Workers
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Summary:The social enterprise movement created a new corporate governance regime that gives employees/stakeholders and a particular social or environmental goal equal fiduciary standing to that of shareholders. That is, the very basis for the so-called social enterprise movement is founded on a fundamental distinction between it and prevailing corporations operating under shareholder primacy. This Note, then, will analyze the current state of social enterprise governance and its relationship to employees as a primary stakeholder and the right to organize/collectively bargain. Part II will discuss the background and historical development of corporate conceptions and relevant theoretical contributions of corporate law scholars that ultimately gave rise to social enterprise. Part III will analyze the competing theories and criticisms surrounding the social enterprise movement and their respective merits and shortcomings. Specifically, it will look to the lack of enforcement mechanisms in social enterprise governance as well as the importance of employee welfare and collective bargaining under an analysis of the longevity and sustainability of the social enterprise movement generally. Part IV will recommend that all social enterprises should incorporate with a mandatory contract with a sectoral bargaining unit which represents all employees employed by a social enterprise certified under B Lab.
ISSN:0360-795X