We intend to elect the formation of a Benefit Corporation as a legal business structure filed with the state of Delaware.

For a real-time, data-driven platform like DisasterTrack, with its positive social impact potential we need to use the Benefit Corporation structure.

Delaware (The Investor Gold Standard)

Our primary goal for DisasterTrack is to eventually scale nationally/globally.

• Investor Confidence: Institutional investors and VCs overwhelmingly prefer Delaware C-Corps and Public Benefit Corporations. They are deeply familiar with the legal framework.

• The Court of Chancery: Delaware handles corporate disputes through a specialized court of corporate judges rather than juries. This means highly predictable, sophisticated legal outcomes if the company faces a dispute.

• More Flexible Reporting: Delaware PBC laws are slightly less rigid than other states. For example, Delaware only requires a progress report to be sent to shareholders every two years and does not legally force you to make that impact report public (though you can choose to).

Requirements:

FeatureDelaware PBC Model Act States (Most Other States) Primary Focus Requires a specific public benefit in the charter and requires a general broad public benefit.

Biennial report (every 2 years); private to shareholders.

Annual; must be made fully public.

Fiduciary Duty Balances shareholder profits, stakeholder interests, and the specific public benefit.

Explicitly requires prioritizing the impacts on workers, community, and environment.

Iincludes franchise taxes + foreign registration fees at home).