Purposely is a free tool to put purpose at the heart of limited companies.
Realising entrepreneurial potential and maximising social impact.
Purposely is a free tool to put purpose at the heart of a business.
All companies have a purpose. Under company law, the default purpose of a limited company is to benefit the shareholders of the company, while having regard to wider stakeholder considerations.
Increasingly, many companies feel that this description of the purpose of a company places too narrow an emphasis on profit and fails to fully capture their true purpose. These companies are being set up and run with the aim of doing more than simply generating a profit for shareholders.
Fortunately, company law allows a company to specify purposes other than benefit to shareholders.
This tool guides you through the steps necessary to create your company articles and embed purpose into the DNA of your business. The final customised articles have been drafted by law firm Bates Wells Braithwaite and can be submitted to Companies House.
The amended articles have been drafted by law firm Bates Wells Braithwaite but this tool does not constitute legal advice. You may wish to seek legal advice before adopting any of the amended articles. This is particularly important if you plan to change the wording of the amended articles, or if you have any questions about their legal implications.