Benefit Corporation

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 ?
Established in 1996 and supported by Platinum sponsors Motorola Solutions and Thales, The Wireless Innovation Forum (SDR Forum Version 2.0) is a non-profit mutual benefit corporation dedicated to advocating for spectrum innovation, and advancing radio technologies that support essential or critical communications worldwide.
As part of this process, Chiesi chose to become a Benefit Corporation, a new innovative legal status under the Italian (Law no.
The New York Convention Center Operating Corporation (NYCCOC), a New YorkState public benefit corporation, is soliciting proposals from qualified firms toprocure and implement a contracts management solution for the Jacob K.
Over the last decade the new structure of the benefit corporation, and more recently the federal version proposed by Senator Elizabeth Warren in her recently proposed Accountable Capitalism Act (which was the subject of this column in the first quarter's issue), present a new paradigm: the corporation is run not only for the benefit of its owners, but is also required to have a purpose of creating a material positive impact on society and/or the environment.
"Last August, we began strengthening our documents for future generations and became a benefit corporation."
SB 133-the bill enacting the Benefit Corporation Act was sponsored by Senator John L.
In 2018, the XPS and STEEN Solution was incorported into the Silver Spring, Maryland laboratory of Lung Bioengineering Inc, a subsidiary of United Therapeutics' public benefit corporation Lung Biotechnology PBC.
According to the National Law Review, a public benefit corporation is a fairly new corporate form.
In the process of combining the two organizations, Salesforce.org will convert from a California public benefit corporation into a California business corporation and Salesforce will pay a one-time cash purchase price of $300M for all shares of Salesforce.org.
Case Name: Fourth Estate Public Benefit Corporation v.
is a benefit corporation that provides a community-driven solution to protect confidential consumer information by taking that information Under the Dome (i.e., secure and off the open internet).
Oakland, CA: Beneficial State Bancorp converted to a Delaware Public Benefit Corporation (PBC).