Purism, SPC (formerly Purism, Inc.) is pleased to announce that it has successfully become a social purpose corporation under the jurisdiction of the state of Washington, USA. Our assembly operations center will remain in South San Francisco, California. The company’s assets have been transferred from Purism, Inc. to Purism, SPC, and the company’s operations will continue as usual, with the added reassurance that our mission and values will always be upheld by a strong set of bylaws, and the ability to seek external investment to facilitate growth without compromising on our values and mission.
On the reasons behind the change of status, our CEO Todd Weaver explained:
“Typical corporations are by definition driven by one thing: maximizing profit. Yet, while Purism was incorporated in the traditional sense, profit maximization was not the purpose. On the other hand, it was not feasible to launch Purism as a non-profit organization: it sells products and has profit, and also needs to leverage lines-of-credit, accounts receivable, and investment vehicles, all which require a corporate status that charitable organizations do not have.”
Thankfully, we learned through one of our advisors, Ben Trister, that a relatively new state classification perfectly matches the essence of Purism: a social purpose corporation (SPC), where Purism defines general and specific social purposes that sit above the purpose of making a profit, and bakes its social contract and philosophy into its incorporation documents. These articles of incorporation are practically immutable in that any change to the company’s social purposes would require the support of those who collectively hold at least three-quarters of the voting shares. The company intends to have its social purposes remain in force for the lifetime of the company. This strong set of provisions ensure that we will continue our positive path of social purpose in the fight for digital rights of computer users.
Ben Trister, the advisor who helped introduce the idea of transitioning to a Social Purpose Corporation added:
“Moving from Purism, Inc. to Purism, SPC may seem like a tiny move to some, but it actually is a tremendous win for Purism’s longevity as a social movement in addition to a great hardware and software manufacturer.”
The articles of incorporation for Purism, SPC highlight our social contract and philosophy. Purism’s social purpose, as stated in the articles of incorporation, can be found at https://puri.sm/about/social-purpose/. SPCs are required to publish an annual Social Purpose report to provide transparency to the public, and we’re looking forward to publishing ours in addition to our regular news updates, highlighting how our activities reflect our official social purpose.
We are happy to announce that Purism has become a Social Purpose Corporation. What this means for us and for you.https://t.co/jOl41XOsMx
— Purism (@Puri_sm) May 7, 2017
A good step forward for (an already) good company 🙂
— Aral Balkan (@aral) May 7, 2017
— bron 🏳️🌈 (@0xbron) May 7, 2017