Explainer-What is a public benefit corporation, the Anthropic legal structure?

An Anthropic logo is displayed at Moscone Center during the Dreamforce 2026 technology summit in San Francisco, California, US, September 17, 2026. REUTERS/Carlos Barria

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WILMINGTON, Delaware, Sept 29 : AI lab Anthropic, the developer of Claude, is planning one of the biggest IPOs in history as a public benefit corporation, a legal structure that requires management to consider certain broader interests as well as turning a profit for investors. Below is a look at how public benefit corporations differ from traditional companies.

Delaware, home to the majority of large publicly traded companies, created public benefit corporations or PBCs in 2013 as a way of addressing the potential negative impacts of corporate behavior.

PBCs are expected to seek a profit for their investors, like the typical corporation. But while a corporate board has a fiduciary duty to act in the best interests of the company, a PBC's directors and executives are required to balance that with the interests of those materially affected by its conduct and with achieving its stated public benefit or mission.

PBCs must include language in their charter describing their public mission. Anthropic stated in its amended certificate of incorporation dated May 7, 2026, that "the specific public benefit that the corporation will promote is to responsibly develop and maintain advanced AI for the long term benefit of humanity."

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