Why OpenAI is trying to untangle its 'bespoke' corporate structure

8 months ago 8

On the Friday after Christmas, OpenAI published a blog post titled "Why OpenAI's structure must evolve to advance our mission." In it, the company detailed a plan to reorganize its for-profit arm into a public benefit corporation (PBC). In the weeks since that announcement, I've spoken to some of the country's leading corporate law experts to gain a better understanding of OpenAI's plan, and, more importantly, what it might mean for its mission to build safe artificial general intelligence (AGI).

What is a public benefit corporation?

"Public benefit corporations are a relatively recent addition to the universe of business entity types," says Jens Dammann, professor of corporate law at the University of Texas School of Law. Depending on who you ask, you may get a different history of PBCs...

Source: https://www.engadget.com/ai/why-openai-is-trying-to-untangle-its-bespoke-corporate-structure-160028589.html?src=rss

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