For-Benefit

For-Benefit

Describing a sector of the economy that is not opposed to making a profit but primarily exists for another purpose. A for-benefit company uses profit to promote efficiency but has statutory responsibilities beyond maximizing value for stockholders or owners.
References in periodicals archive ?
One year on from the signing in Davos of a Compact for Responsive and Responsible Business, a movement is under way among some global businesses to become for-benefit organizations, integrating social and environmental aims alongside delivering value to shareholders.
| GAP is celebrating its 10-year anniversary with RED, the for-benefit brand designed to help eliminate AIDS in Africa, by launching a limited-edition range that features inspirational words.
Founded in 2004, Research Square is a for-benefit company that provides innovative solutions to help researchers successfully communicate their work.
(1) Formerly Cooperative Action by Victorian Academic Libraries, a member-based for-benefit company offering reciprocal borrowing, shared collection storage and other economy-of-scale services to member libraries.
Another policy change Colander and Kupers advocate is the encouragement of "for-benefit" organizations.
More governments are pursuing public service objectives through third-party for-benefit organizations, like charities and social entrepreneurs.
(4) Also sometimes referred to as "blended enterprise" or "for-benefit enterprise".
673, 675 (2009) (describing CSR movement); Taylor, supra note 2, at 745-46 (explaining goals of CSR); Alissa Mickels, Note, Beyond Corporate Social Responsibility: Reconciling the Ideals of a For-Benefit Corporation with Director Fiduciary Duties in the U.S.
Some definitions of social enterprise are broader, including "for-benefit" companies created to generate profits that will be distributed to non-profit entities, business partnerships between non-profits and for-profits such as cause-related marketing or purchasing, and public-private partnerships for community development.
(24.) For example, Alissa Mickels refers to "the historical role of making a profit." Alissa Mickels, Beyond Corporate Social Responsibility: Reconciling the Ideals of a For-Benefit Corporation with Director Fiduciary Duties in the U.S.
An emerging business trend, these social entrepreneurs are the owners of corporations doing well while doing good--coined a for-benefit corporation.