In a context of grand challenges, states are increasingly using law to modify corporate governance in order to make business corporations more sustainable. They increasingly introduce new forms of corporations-labelled as profit-with-purpose corporations-with incorporated social and environmental goals. But the diversity of new legal forms is likely to create confusion, both for policy makers and for corporate leaders. This article offers a conceptual framework to distinguish between the different types of profit-with-purpose corporations, based on their type of purpose. It then derives several propositions to draw attention to the contingency criteria of the different purposes, and, more importantly, to the need to have governance rules appropriate to the pursued purposes, as a condition to avoid purpose-washing and ensure integrity.