Hobby Lobby and Social Justice: How the Supreme Court Opened the Door for Socially Conscious Investors

In Burwell v. Hobby Lobby, the Supreme Court upended the traditional foundations of corporate law. By allowing corporations to exercise legally recognized religious rights, the Court changed the very nature of a corporate entity. Moreover, the Court defied the conventional doctrine providing that the purpose of a corporation is to make profit for its shareholders. The case is being both praised and denounced by observers, but no one has yet fully analyzed how the Court's reasoning paved the way for social impact investors to use the corporate form as a vehicle to achieve their objectives.

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