Benefit Corporation

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Benefit Corporation

A corporation in which the members of board of directors have the statutory duty to provide some tangible benefit to the community and/or the environment. In other words, a benefit corporation is not prohibited from earning and distributing profits, but is expected to do these other things as well. A benefit corporation is informally called a b-corp.
References in periodicals archive ?
To address this question, the project studies the B-Corporations as a new legal business form of corporations (private and public) pursuing benefits for society and shareholders.
The same goes for B-Corporations, the for profit entities that walk around with their figurative chests puffed out saying: "Look at us.
Two cities--San Francisco and Philadelphia--have adopted legislation related to B-Corporations.