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

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). "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, but in the dominant narrative, they came out of a certification program created by a nonprofit called B Lab. Companies that complete a self-assessment and pay an annual fee to B Lab can carry the B Lab logo on their products and websites and call themselves B-Corps.