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 ?
Full Circle and Soma are certified B-corporation companies, dedicated to social and environmental issues.
Other commercial tenants will include street-level retail and B-corporation businesses with closely aligned social missions.
Individuals considering forming a Benefit Corporation, a B-Corporation or a Social Purpose Corporation should consult with an attorney.
Some benefit corporations may want the further recognition of achieving B-corporation status by being certified by B-Lab.
As a community focused B-Corporation, IIT is dedicated to assuring that its partners are better able to realize cost reductions and invest in their mission-related goals.
org started out as a nonprofit before filing to become a for-profit B-Corporation.
Clean Currents is a certified green business and a registered Benefit LLC and B-Corporation, a new legal designation that means a company provides a public benefit as well as a profit.
As a certified B-Corporation, Notogroup maintains the highest standards for corporate governance, employee benefits, professional development, environmental conservation, and overall community investment.