HI HB1158

Amends Hawaii Revised Statutes Section 420D-5(b) to expand the types of intellectual property that sustainable business corporations can use for public benefit purposes.

Extends the specific public benefit provision to include copyrights and trademarks in addition to patents, allowing corporations to use the right to exclude conferred by these intellectual property types.

Permits sustainable business corporations to use intellectual property rights for purposes including creating and retaining jobs within Hawaii and the United States, upholding fair labor standards nationally and internationally, and enhancing environmental protection.

Establishes that if a corporation specifies the public benefit related to intellectual property use, it becomes permanent and cannot be removed from the articles of incorporation unless the benefit director's annual statement concludes the corporation has failed to pursue this benefit, resulting in termination of sustainable business corporation status.

Effective upon approval.