Benefit Corporations

While looking for the existing different kinds of corporations and laws under which an enterprise can function, I came across the “Benefit Corporation”.  It is so impressive how doing business changes slowly and how initiating change takes serious law changes.

blablogoI initially found the info on a Forbes article by B Lab Co-Founders Jay Coen Gilbert, Bart Houlahan and Andrew Kassoy. Below is some info on what a Benefit Corporation is and what B Lab does.

About Benefit Corporations:

“A benefit corporation is a new class of corporation that voluntarily meets higher standards of corporate purpose, accountability, and transparency.

Benefit Corporations are a new class of corporation that 1) creates a material positive impact on society and the environment; 2) expands fiduciary duty to require consideration of non-financial interests when making decisions; and 3) reports on its overall social and environmental performance using recognized third party standards.” More info here.

About B Lab:

“B Lab is a 501(c)3 nonprofit that serves a global movement of entrepreneurs using the power of business to solve social and environmental problems. B Lab serves these entrepreneurs through three interrelated initiatives that provide them the legal infrastructure and help them attract the customers, talent, and capital to scale.

Certified B Corporations
Passing Legislationn
GIIRS Ratings & Analytics.”

More info here.


About mlaopodi

Cultural Manager trying to grasp and share knowledge on how culture can develop through entrepreneurship.

Posted on August 30, 2013, in News from organisations and tagged , , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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