A New Twist on Capitalism
Susan Mac Cormac, a corporate lawyer with Morrison & Foerster, helped launch a novel corporate form – a kind of hybrid between a nonprofit and a corporation that has the flexibility to pursue both profits and stewardship.
Susan Mac Cormac is a partner in the Corporate Group of Morrison & Foerster’s San Francisco office. She serves as co-chair of the firm’s Business Department, as well as its Cleantech Group. She has spent 500 pro bono hours over the past three years drafting a new corporate form for California– the Flexible Purpose Corporation (FPC).
Susan was named by California Lawyer Magazine as one of the 2012 California Lawyers of the Year for her effective legislative change in California as co-chair of the Working Group for the FPC. The FPC encourages and expressly permits new or existing companies to pursue environmental and social goals in addition to creating economic value for shareholders.
Susan has extensive experience representing start-up to late-stage private companies in the cleantech or sustainable space. She regularly advises boards of private and public companies on corporate governance as it relates to sustainability and Corporate Social Responsibility (“CSR”) issues and has joined the faculty at both the Stanford Director’s College and the Northwestern Corporate Counsel Institute.
Susan joined Morrison & Foerster in 1997 and became a partner in 2001. She holds a degree in political economy from Williams College and received her J.D. and LL.M. degrees from Duke University School of Law. Susan lives in the Presidio National Park with her husband and three young boys.