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<li id="toc-United_States" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#United_States"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1</span> <span>United States</span> </div> </a> <ul id="toc-United_States-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Outside_of_the_United_States" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Outside_of_the_United_States"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.2</span> <span>Outside of the United States</span> </div> </a> <ul id="toc-Outside_of_the_United_States-sublist" class="vector-toc-list"> <li id="toc-Italy" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Italy"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.2.1</span> <span>Italy</span> </div> </a> <ul id="toc-Italy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Colombia" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Colombia"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.2.2</span> <span>Colombia</span> </div> </a> <ul id="toc-Colombia-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Canada" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Canada"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.2.3</span> <span>Canada</span> </div> </a> <ul id="toc-Canada-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-United_Kingdom" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#United_Kingdom"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.2.4</span> <span>United Kingdom</span> </div> </a> <ul id="toc-United_Kingdom-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> </ul> </li> <li id="toc-Differences_from_traditional_corporations" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Differences_from_traditional_corporations"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Differences from traditional corporations</span> </div> </a> <ul id="toc-Differences_from_traditional_corporations-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Provisions" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Provisions"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Provisions</span> </div> </a> <ul id="toc-Provisions-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Benefits" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Benefits"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Benefits</span> </div> </a> <ul id="toc-Benefits-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Benefit_corporation_vs._certified_benefit_corporation" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Benefit_corporation_vs._certified_benefit_corporation"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Benefit corporation vs. certified benefit corporation</span> </div> </a> <ul id="toc-Benefit_corporation_vs._certified_benefit_corporation-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Benefit_corporations_and_cooperatives" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Benefit_corporations_and_cooperatives"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Benefit corporations and cooperatives</span> </div> </a> <ul id="toc-Benefit_corporations_and_cooperatives-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Taxation" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Taxation"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Taxation</span> </div> </a> <ul id="toc-Taxation-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Possible_incentives_to_change_to_a_benefit_corporation" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Possible_incentives_to_change_to_a_benefit_corporation"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Possible incentives to change to a benefit corporation</span> </div> </a> <ul id="toc-Possible_incentives_to_change_to_a_benefit_corporation-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Transition_process" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Transition_process"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>Transition process</span> </div> </a> <ul id="toc-Transition_process-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Investor_and_consumer_preferences" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Investor_and_consumer_preferences"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>Investor and consumer preferences</span> </div> </a> <ul id="toc-Investor_and_consumer_preferences-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">11</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">12</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">13</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" 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mw-list-item"><a href="https://ca.wikipedia.org/wiki/Societat_de_Benefici_i_Inter%C3%A8s_Com%C3%BA" title="Societat de Benefici i Interès Comú – Catalan" lang="ca" hreflang="ca" data-title="Societat de Benefici i Interès Comú" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Benefit_Corporation" title="Benefit Corporation – German" lang="de" hreflang="de" data-title="Benefit Corporation" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Benefit_corporation" title="Benefit corporation – French" lang="fr" hreflang="fr" data-title="Benefit corporation" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EA%B3%B5%EC%9D%B5%EB%B2%95%EC%9D%B8" title="공익법인 – Korean" lang="ko" hreflang="ko" data-title="공익법인" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Benefit_corporation" title="Benefit corporation – Italian" lang="it" hreflang="it" data-title="Benefit corporation" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E3%83%99%E3%83%8D%E3%83%95%E3%82%A3%E3%83%83%E3%83%88%E3%83%BB%E3%82%B3%E3%83%BC%E3%83%9D%E3%83%AC%E3%83%BC%E3%82%B7%E3%83%A7%E3%83%B3" title="ベネフィット・コーポレーション – Japanese" lang="ja" hreflang="ja" data-title="ベネフィット・コーポレーション" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Manfaat_korporatsiyasi" title="Manfaat korporatsiyasi – Uzbek" lang="uz" hreflang="uz" data-title="Manfaat korporatsiyasi" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E5%85%AC%E7%9B%8A%E6%B3%95%E4%BA%BA" title="公益法人 – Chinese" lang="zh" hreflang="zh" data-title="公益法人" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a 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sidebar-collapse nomobile nowraplinks vcard hlist"><tbody><tr><td class="sidebar-pretitle">This article is part of <a href="/wiki/Category:Corporate_law" title="Category:Corporate law">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Corporate_law" title="Corporate law">Corporate law</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:Society.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/200px-Society.svg.png" decoding="async" width="200" height="79" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/300px-Society.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5b/Society.svg/400px-Society.svg.png 2x" data-file-width="96" data-file-height="38" /></a></span></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">By jurisdiction</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Anguillan_company_law" title="Anguillan company law">Anguilla</a></li> <li><a href="/wiki/Australian_corporate_law" title="Australian corporate law">Australia</a></li> <li><a href="/wiki/British_Virgin_Islands_company_law" title="British Virgin Islands company law">BVI</a></li> <li><a href="/wiki/Canadian_corporate_law" title="Canadian corporate law">Canada</a></li> <li><a href="/wiki/Cayman_Islands_company_law" title="Cayman Islands company law">Cayman Islands</a></li> <li><a href="/wiki/Indian_company_law" title="Indian company law">India</a></li> <li><a href="/wiki/South_African_company_law" title="South African company law">South Africa</a></li> <li><a href="/wiki/United_Kingdom_company_law" title="United Kingdom company law">UK</a></li> <li><a href="/wiki/United_States_corporate_law" title="United States corporate law">United States</a></li> <li><a href="/wiki/Corporate_law_in_Vietnam" title="Corporate law in Vietnam">Vietnam</a></li> <li><br /><a href="/wiki/European_corporate_law" class="mw-redirect" title="European corporate law">European Union</a> <ul><li><a href="/wiki/French_company_law" title="French company law">France</a></li> <li><a href="/wiki/German_company_law" title="German company law">Germany</a></li></ul></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">General corporate forms</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Company" title="Company">Company</a></li> <li><a href="/wiki/Conglomerate_(company)" title="Conglomerate (company)">Conglomerate</a></li> <li><a href="/wiki/Cooperative" title="Cooperative">Cooperative</a></li> <li><a href="/wiki/Corporation" title="Corporation">Corporation</a></li> <li><a href="/wiki/Holding_company" title="Holding company">Holding company</a></li> <li><a href="/wiki/Joint-stock_company" title="Joint-stock company">Joint-stock</a></li> <li><a href="/wiki/Partnership" title="Partnership">Partnership</a> <ul><li><a href="/wiki/General_partnership" title="General partnership">General</a></li> <li><a href="/wiki/Limited_partnership" title="Limited partnership">Limited</a></li> <li><a href="/wiki/Limited_liability_partnership" title="Limited liability partnership">Limited liability</a></li></ul></li> <li><a href="/wiki/Private_limited_company" title="Private limited company">Private limited</a></li> <li><a href="/wiki/Shell_corporation" title="Shell corporation">Shell corporation</a></li> <li><a href="/wiki/Shelf_corporation" title="Shelf corporation">Shelf corporation</a></li> <li><a href="/wiki/Sole_proprietorship" title="Sole proprietorship">Sole proprietorship</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)"><a href="/wiki/List_of_legal_entity_types_by_country" title="List of legal entity types by country">Corporate forms<br />by jurisdiction</a></div><div class="sidebar-list-content mw-collapsible-content"><table class="sidebar nomobile nowraplinks" style="background-color: transparent; color: var( --color-base ); border-collapse:collapse; border-spacing:0px; border:none; width:100%; margin:0px; font-size:100%; clear:none; float:none"><tbody><tr><th class="sidebar-heading"> <a href="/wiki/European_corporate_law" class="mw-redirect" title="European corporate law">European Union</a></th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Societas_Europaea" title="Societas Europaea"><i>Societas</i> <span style="font-size:85%;">(SE)</span></a></li> <li><a href="/wiki/Societas_cooperativa_Europaea" title="Societas cooperativa Europaea"><i>Societas cooperativa</i> <span style="font-size:85%;">(SCE)</span></a></li> <li><a href="/wiki/Societas_privata_Europaea" title="Societas privata Europaea"><i>Societas privata</i> <span style="font-size:85%;">(SPE)</span></a></li> <li><a href="/wiki/Societas_unius_personae" title="Societas unius personae"><i>Societas unius personae</i> <span style="font-size:85%;">(SUP)</span></a></li> <li><a href="/wiki/European_economic_interest_grouping" title="European economic interest grouping">Economic interest grouping <span style="font-size:85%;">(EEIG)</span></a></li></ul></td> </tr><tr><th class="sidebar-heading"> <span class="nowrap">UK / Ireland / Commonwealth</span></th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Charitable_incorporated_organisation" title="Charitable incorporated organisation">Charitable incorporated organisation (England and Wales) <span style="font-size:85%;">(CIO)</span></a></li> <li><a href="/wiki/Scottish_charitable_incorporated_organisation" title="Scottish charitable incorporated organisation">Scottish charitable incorporated organisation <span style="font-size:85%;">(SCIO)</span></a></li> <li><a href="/wiki/Community_interest_company" title="Community interest company">Community interest company <span style="font-size:85%;">(CIC)</span></a></li> <li><a href="/wiki/Industrial_and_provident_society" title="Industrial and provident society">Industrial and provident society <span style="font-size:85%;">(IPS)</span></a></li> <li><br /><a href="/wiki/Limited_company" title="Limited company">Limited company <span style="font-size:85%;">(Ltd.)</span></a> <ul><li><a href="/wiki/Private_company_limited_by_guarantee" class="mw-redirect" title="Private company limited by guarantee">by guarantee</a></li> <li><a href="/wiki/Private_company_limited_by_shares" title="Private company limited by shares">by shares</a></li> <li><a href="/wiki/Proprietary_company" title="Proprietary company">proprietary</a></li> <li><a href="/wiki/Public_limited_company" title="Public limited company">public</a></li></ul></li> <li><a href="/wiki/Unlimited_company" title="Unlimited company">Unlimited company</a></li></ul></td> </tr><tr><th class="sidebar-heading"> United States</th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a class="mw-selflink selflink">Benefit corporation</a></li> <li><a href="/wiki/C_corporation" title="C corporation">C corporation</a></li> <li><a href="/wiki/Limited_liability_company" title="Limited liability company">Limited liability company <span style="font-size:85%;">(LLC)</span></a> <ul><li><a href="/wiki/Low-profit_limited_liability_company" title="Low-profit limited liability company">Low-profit LLC</a></li></ul></li> <li><a href="/wiki/Series_LLC" title="Series LLC">Series LLC</a></li> <li><a href="/wiki/Limited_liability_limited_partnership" title="Limited liability limited partnership">Limited liability limited partnership <span style="font-size:85%;">(LLLP)</span></a></li> <li><a href="/wiki/S_corporation" title="S corporation">S corporation</a></li> <li><span class="nowrap"><a href="/wiki/Delaware_General_Corporation_Law" title="Delaware General Corporation Law">Delaware corporation</a> / <a href="/wiki/Delaware_statutory_trust" title="Delaware statutory trust">statutory trust</a></span></li> <li><a href="/wiki/Massachusetts_business_trust" title="Massachusetts business trust">Massachusetts business trust</a></li> <li><a href="/wiki/Nevada_corporation" title="Nevada corporation">Nevada corporation</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Others</th></tr><tr><td class="sidebar-content" style="border-bottom:#ccc 1px solid"> <ul><li><a href="/wiki/Aktiebolag" title="Aktiebolag"><i>Aktiebolag</i> <span style="font-size:85%;">(AB)</span></a></li> <li><a href="/wiki/Aktiengesellschaft" title="Aktiengesellschaft"><i>Aktiengesellschaft</i> <span style="font-size:85%;">(AG)</span></a></li> <li><a href="/wiki/Ansvarlig_selskap" title="Ansvarlig selskap"><i>Ansvarlig selskap</i> <span style="font-size:85%;">(ANS)</span></a></li> <li><a href="/wiki/Aktieselskab" title="Aktieselskab"><i>Aktieselskab</i> <span style="font-size:85%;">(A/S)</span></a></li> <li><a href="/wiki/Aksjeselskap" title="Aksjeselskap"><i>Aksjeselskap</i> <span style="font-size:85%;">(AS)</span></a></li> <li><a href="/wiki/Gesellschaft_mit_beschr%C3%A4nkter_Haftung" class="mw-redirect" title="Gesellschaft mit beschränkter Haftung"><i>Gesellschaft mit beschränkter Haftung</i> <span style="font-size:85%;">(GmbH)</span></a></li> <li><a href="/wiki/Kabushiki_gaisha" title="Kabushiki gaisha"><i>Kabushiki gaisha</i> <span style="font-size:85%;">(K.K.)</span></a></li> <li><a href="/wiki/Naamloze_vennootschap" title="Naamloze vennootschap"><i>Naamloze vennootschap</i> <span style="font-size:85%;">(N.V.)</span></a></li> <li><a href="/wiki/Osakeyhti%C3%B6" title="Osakeyhtiö"><i>Osakeyhtiö</i> <span style="font-size:85%;">(Oy)</span></a></li> <li><a href="/wiki/S.A._(corporation)" title="S.A. (corporation)">S.A.</a></li> <li><a href="/wiki/Soci%C3%A9t%C3%A9_%C3%A0_responsabilit%C3%A9_limit%C3%A9e" title="Société à responsabilité limitée"><i>Société à responsabilité limitée</i> <span style="font-size:85%;">(SARL)</span></a></li> <li><a href="/wiki/Types_of_business_entity" class="mw-redirect" title="Types of business entity">more...</a></li></ul></td> </tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">Doctrines</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Business_judgment_rule" title="Business judgment rule">Business judgment rule</a></li> <li><a href="/wiki/Corporate_governance" title="Corporate governance">Corporate governance</a></li> <li><a href="/wiki/De_facto_corporation_and_corporation_by_estoppel" title="De facto corporation and corporation by estoppel"><i>De facto</i> and estoppel corporations</a></li> <li><a href="/wiki/Internal_affairs_doctrine" title="Internal affairs doctrine">Internal affairs doctrine</a></li> <li><a href="/wiki/Limited_liability" title="Limited liability">Limited liability</a></li> <li><a href="/wiki/Tag-along_right" title="Tag-along right">Tag-along right</a></li> <li><a href="/wiki/Drag-along_right" title="Drag-along right">Drag-along right</a></li> <li><a href="/wiki/Piercing_the_corporate_veil" title="Piercing the corporate veil">Piercing the corporate veil</a></li> <li><a href="/wiki/Rochdale_Principles" title="Rochdale Principles">Rochdale Principles</a></li> <li><i><a href="/wiki/Ultra_vires" title="Ultra vires">Ultra vires</a></i></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="text-align:center; background:lavender; line-height:130%; padding:0.3em 0em;;color: var(--color-base)">Related areas</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Beneficial_ownership" title="Beneficial ownership">Beneficial ownership</a></li> <li><a href="/wiki/Civil_procedure" title="Civil procedure">Civil procedure</a></li> <li><a href="/wiki/Contract" title="Contract">Contract</a></li> <li><a href="/wiki/List_of_company_registers" class="mw-redirect" title="List of company registers">Corporate registers</a></li> <li><a href="/wiki/Registered_agent" title="Registered agent">Registered agent</a></li></ul></div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><a href="/wiki/Portal:Companies" title="Portal:Companies">Company portal</a></li> <li><a href="/wiki/Portal:Law" title="Portal:Law">Law portal</a></li></ul></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Corporate_law" title="Template:Corporate law"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Corporate_law" title="Template talk:Corporate law"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Corporate_law" title="Special:EditPage/Template:Corporate law"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Benefit_corporation_laws_in_the_United_States.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/2a/Benefit_corporation_laws_in_the_United_States.svg/220px-Benefit_corporation_laws_in_the_United_States.svg.png" decoding="async" width="220" height="138" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/2a/Benefit_corporation_laws_in_the_United_States.svg/330px-Benefit_corporation_laws_in_the_United_States.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/2a/Benefit_corporation_laws_in_the_United_States.svg/440px-Benefit_corporation_laws_in_the_United_States.svg.png 2x" data-file-width="958" data-file-height="602" /></a><figcaption>Map of U.S. states which have passed laws allowing the formation of benefit corporations:<br /> <br /> <span style="display:inline-block;border:1.62px solid black;vertical-align:text-top;" title="Navy Blue"><span class="mw-no-invert" style="display:block;padding:0;width:1em;height:1em;background:#000080;color:inherit;"> </span></span> Passed into law.<br /> <span style="display:inline-block;border:1.62px solid black;vertical-align:text-top;" title="Light Grey"><span class="mw-no-invert" style="display:block;padding:0;width:1em;height:1em;background:#d0d0d0;color:inherit;"> </span></span> No existing law.<br /> <span style="display:inline-block;border:1.62px solid black;vertical-align:text-top;" title="Goldenrod"><span class="mw-no-invert" style="display:block;padding:0;width:1em;height:1em;background:#808000;color:inherit;"> </span></span> Bill failed a vote in the state's legislature.</figcaption></figure> <p>In business, and only in <a href="/wiki/United_States_corporate_law" title="United States corporate law">United States corporate law</a>, a <b>benefit corporation</b> (or in some states, a <b>public benefit corporation</b>) is a type of for-profit <a href="/wiki/Corporate_entity" class="mw-redirect" title="Corporate entity">corporate entity</a> whose goals include making a positive impact on society. Laws concerning conventional corporations typically do not define the "best interest of society", which has led some to believe that increasing shareholder value (profits and/or share price) is the only overarching or compelling interest of a corporation.<sup id="cite_ref-:6_1-0" class="reference"><a href="#cite_note-:6-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Benefit corporations explicitly specify that profit is not their only goal.<sup id="cite_ref-:7_2-0" class="reference"><a href="#cite_note-:7-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> An ordinary corporation may change to a benefit corporation merely by stating in its approved corporate bylaws that it is a benefit corporation.<sup id="cite_ref-:7_2-1" class="reference"><a href="#cite_note-:7-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p><p>A company chooses to become a benefit corporation in order to operate as a traditional for-profit business while simultaneously addressing social, economic, and/or environmental needs.<sup id="cite_ref-:1_3-0" class="reference"><a href="#cite_note-:1-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> For example, a 2013 study done by MBA students at the University of Maryland showed that one main reason businesses in <a href="/wiki/Law_of_Maryland" class="mw-redirect" title="Law of Maryland">Maryland</a> had chosen to file as benefit corporations was for community recognition of their values.<sup id="cite_ref-:0_4-0" class="reference"><a href="#cite_note-:0-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> A benefit corporation's directors and officers operate the business with the same authority and behavior as in a traditional corporation, but are required to consider the impact of their decisions not only on shareholders but also on employees, customers, the community, and the local and global environment. For an example of what additional impacts directors and officers are required to consider, view the Maryland Code § 5-6C-07 – Duties of director. The nature of the business conducted by the corporation does not affect its status as a benefit corporation. Instead, it provides a justification for including public benefits in their missions and activities. </p><p>The benefit corporation legislation ensures that a director is required to consider other public benefits in addition to profit, preventing shareholders from using a drop in stock value as evidence for dismissal or a lawsuit against the corporation. Transparency provisions require benefit corporations to publish annual benefit reports of their social and environmental performance using a comprehensive, credible, independent, and transparent third-party standard. However, few of the states have included provisions for the removal of benefit corporation status or fines if the companies fail to publish benefit reports that comply with the state statutes.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> </p><p>Currently, there are no legal standards that define what constitutes a benefit corporation.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> A benefit corporation need not be certified or audited by the third-party standard. Instead, it may use third-party standards solely as a <a href="/wiki/Rubric" title="Rubric">rubric</a> to measure its own performance. Some authors have pointed out that in the current 36 states that recognize benefit corporations, the laws requiring certification for operation differ from state to state.<sup id="cite_ref-:8_7-0" class="reference"><a href="#cite_note-:8-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> For example, in the state of Indiana, there is no requirement for certification from a third party needed to operate as a benefit corporation.<sup id="cite_ref-:2_8-0" class="reference"><a href="#cite_note-:2-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> Other research has indicated a synergy between a benefit corporation and employee ownership.<sup id="cite_ref-Kurland_CMR_2018_9-0" class="reference"><a href="#cite_note-Kurland_CMR_2018-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>As a matter of law, in the 36 states that recognize this form of business, a benefit corporation is intended "to merge the traditional for-profit business corporation model with a non-profit model by allowing social entrepreneurs to consider interests beyond those of maximizing shareholder wealth."<sup id="cite_ref-:7_2-2" class="reference"><a href="#cite_note-:7-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="United_States">United States</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=2" title="Edit section: United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In April 2010, Maryland became the first U.S. state to pass benefit corporation legislation.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> As of March 2018<sup class="plainlinks noexcerpt noprint asof-tag update" style="display:none;"><a class="external text" href="https://en.wikipedia.org/w/index.php?title=Benefit_corporation&action=edit">[update]</a></sup>, 36 states and Washington, D.C., have passed legislation allowing for the creation of benefit corporations:<sup id="cite_ref-:8_7-1" class="reference"><a href="#cite_note-:8-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p> <style data-mw-deduplicate="TemplateStyles:r1232966811">.mw-parser-output .hover-highlight tr:hover,.mw-parser-output .mw-datatable 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tr:first-child::before{border-top-width:1px}body.skin-minerva .mw-parser-output .static-row-numbers.wikitable tbody tr:last-child::before,body.skin-minerva .mw-parser-output .static-row-numbers.wikitable tfoot tr:last-child::before{border-bottom-width:1px}}</style> <table class="wikitable sortable mw-datatable static-row-numbers sticky-table-head sticky-table-col1" style="text-align: left;"> <tbody><tr> <th>State</th> <th>Date passed</th> <th>Date in effect</th> <th>Legislation </th></tr> <tr> <td>Alabama </td> <td>December 31, 2020 </td> <td>January 1, 2021 </td> <td><a rel="nofollow" class="external text" href="https://law.justia.com/codes/alabama/title-10a/chapter-2a/article-17/section-10a-2a-17-01/">Act 2020-73, §8.</a><sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </td></tr> <tr> <td>Arizona</td> <td>April 30, 2013</td> <td>December 31, 2014</td> <td><a rel="nofollow" class="external text" href="http://www.azleg.gov/DocumentsForBill.asp?Bill_Number=SB1238&Session_ID=110">SB 1238</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160304093908/http://www.azleg.gov/DocumentsForBill.asp?Bill_Number=SB1238&Session_ID=110">Archived</a> March 4, 2016, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> </td></tr> <tr> <td>Arkansas</td> <td>April 19, 2013</td> <td>July 18, 2013</td> <td><a rel="nofollow" class="external text" href="http://www.arkleg.state.ar.us/assembly/2013/2013R/Pages/BillInformation.aspx?measureno=HB1510">HB 1510</a> </td></tr> <tr> <td>California</td> <td>October 9, 2011</td> <td>January 1, 2012</td> <td><a rel="nofollow" class="external text" href="http://leginfo.legislature.ca.gov/faces/billTextClient.xhtml?bill_id=201120120AB361">AB 361</a> for FPCs; revised and renamed as SPCs in 2015 via <a rel="nofollow" class="external text" href="http://www.leginfo.ca.gov/pub/13-14/bill/sen/sb_1301-1350/sb_1301_cfa_20140621_181747_asm_comm.html">SB 1301</a> </td></tr> <tr> <td>Colorado</td> <td>May 15, 2013</td> <td>April 1, 2014</td> <td><a rel="nofollow" class="external text" href="http://www.leg.state.co.us/clics/clics2013a/csl.nsf/fsbillcont3/A29836D875EF946987257AEE00574AC0?open&file=1138_enr.pdf">HB 13-1138</a> </td></tr> <tr> <td>Connecticut</td> <td>April 24, 2014</td> <td>October 1, 2014</td> <td><a rel="nofollow" class="external text" href="http://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00023&which_year=2014">SB 23</a>, <a rel="nofollow" class="external text" href="http://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=5597&which_year=2014&SUBMIT1.x=0&SUBMIT1.y=0">HB 5597 Section 140</a> </td></tr> <tr> <td>Delaware</td> <td>July 17, 2013</td> <td>August 1, 2013</td> <td><a rel="nofollow" class="external text" href="http://www.legis.delaware.gov/BillDetail?LegislationId=22350">SB 47</a> </td></tr> <tr> <td>Florida</td> <td>June 20, 2014</td> <td>July 1, 2014</td> <td><a rel="nofollow" class="external text" href="http://www.flsenate.gov/Session/Bill/2014/0654">SB 654</a>, <a rel="nofollow" class="external text" href="http://www.myfloridahouse.gov/Sections/Bills/billsdetail.aspx?BillId=51780">HB 685</a> </td></tr> <tr> <td>Hawaii</td> <td>July 8, 2011</td> <td>July 8, 2011</td> <td><a rel="nofollow" class="external text" href="http://www.capitol.hawaii.gov/session2011/bills/SB298_CD1_.htm">SB 298</a> </td></tr> <tr> <td>Idaho</td> <td>April 2, 2015</td> <td>July 1, 2015</td> <td><a rel="nofollow" class="external text" href="https://web.archive.org/web/20150929020443/http://www.legislature.idaho.gov//legislation/2015/S1076.htm">SB 1076</a> </td></tr> <tr> <td>Illinois</td> <td>August 2, 2012</td> <td>January 1, 2013</td> <td><a rel="nofollow" class="external text" href="http://www.ilga.gov/legislation/BillStatus.asp?DocNum=2897&GAID=11&DocTypeID=SB&LegId=63455&SessionID=84">SB 2897</a> </td></tr> <tr> <td>Indiana</td> <td>April 30, 2015</td> <td>July 1, 2015</td> <td><a rel="nofollow" class="external text" href="http://iga.in.gov/static-documents/e/6/c/c/e6cc8ccd/HB1015.01.INTR.pdf">HB 1015</a> </td></tr> <tr> <td>Iowa<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup></td> <td>June 8, 2021</td> <td>June 8, 2021</td> <td><a rel="nofollow" class="external text" href="https://www.legis.iowa.gov/legislation/BillBook?ga=89&ba=HF844">HB 844</a> </td></tr> <tr> <td>Kansas</td> <td>March 30, 2017</td> <td>July 1, 2017</td> <td><a rel="nofollow" class="external text" href="https://openstates.org/ks/bills/2017-2018/HB2153/">HB 2153</a> </td></tr> <tr> <td>Kentucky</td> <td>March 7, 2017</td> <td>July 1, 2017</td> <td><a rel="nofollow" class="external text" href="http://www.lrc.ky.gov/record/17RS/HB35.htm">HB 35</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170607154212/http://www.lrc.ky.gov/record/17RS/HB35.htm">Archived</a> June 7, 2017, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> </td></tr> <tr> <td>Louisiana</td> <td>May 31, 2012</td> <td>August 1, 2012</td> <td><a rel="nofollow" class="external text" href="http://www.legis.la.gov/legis/ViewDocument.aspx?d=809858&n=HB1178%20Act">HB 1178</a> </td></tr> <tr> <td>Maryland</td> <td>April 13, 2010</td> <td>October 1, 2010</td> <td><a rel="nofollow" class="external text" href="http://mgaleg.maryland.gov/webmga/frmMain.aspx?tab=subject3&ys=2010rs/billfile/sb0690.htm">SB 690/HB 1009</a> </td></tr> <tr> <td>Massachusetts</td> <td>August 7, 2012</td> <td>December 1, 2012</td> <td><a rel="nofollow" class="external text" href="https://malegislature.gov/Laws/SessionLaws/Acts/2012/Chapter238">2012 Acts, Chapter 238</a> </td></tr> <tr> <td>Minnesota</td> <td>April 29, 2014</td> <td>January 1, 2015</td> <td><a rel="nofollow" class="external text" href="https://www.revisor.mn.gov/bills/text.php?number=SF2053&version=0&session=ls88&session_year=2014&session_number=0">SF 2053</a>, <a rel="nofollow" class="external text" href="https://www.revisor.mn.gov/bills/text.php?number=HF2582&version=0&session=ls88&session_year=2014&session_number=0">HF 2582</a> </td></tr> <tr> <td>Montana</td> <td>April 27, 2015</td> <td>October 1, 2015</td> <td><a rel="nofollow" class="external text" href="http://laws.leg.mt.gov/legprd/LAW0203W$BSRV.ActionQuery?P_SESS=20151&P_BLTP_BILL_TYP_CD=HB&P_BILL_NO=258&P_BILL_DFT_NO=&P_CHPT_NO=&Z_ACTION=Find&P_ENTY_ID_SEQ2=&P_SBJT_SBJ_CD=&P_ENTY_ID_SEQ=">HB 2458</a> </td></tr> <tr> <td>Nebraska</td> <td>April 2, 2014</td> <td>July 18, 2014</td> <td><a rel="nofollow" class="external text" href="http://nebraskalegislature.gov/FloorDocs/103/PDF/Slip/LB751.pdf">LB 751</a> </td></tr> <tr> <td>Nevada</td> <td>May 24, 2013</td> <td>January 1, 2014</td> <td><a rel="nofollow" class="external text" href="https://nelis.leg.state.nv.us/77th2013/App#/77th2013/Bill/Overview/AB89">AB 89</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20150607122453/https://nelis.leg.state.nv.us/77th2013/App#/77th2013/Bill/Overview/AB89">Archived</a> June 7, 2015, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> </td></tr> <tr> <td>New Hampshire</td> <td>July 11, 2014</td> <td>January 1, 2015</td> <td><a rel="nofollow" class="external text" href="http://www.gencourt.state.nh.us/legislation/2014/SB0215.pdf">SB 215</a> </td></tr> <tr> <td>New Jersey</td> <td>January 10, 2011</td> <td>March 1, 2011</td> <td><a rel="nofollow" class="external text" href="http://www.njleg.state.nj.us/2010/Bills/A4000/3595_I1.PDF">S 2170</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20150926225023/http://www.njleg.state.nj.us/2010/Bills/A4000/3595_I1.PDF">Archived</a> September 26, 2015, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> </td></tr> <tr> <td>New Mexico</td> <td>February 18, 2020</td> <td>February 18, 2020</td> <td><a rel="nofollow" class="external text" href="https://www.nmlegis.gov/Sessions/20%20Regular/final/HB0118.pdf">HB 118</a>, <a rel="nofollow" class="external text" href="https://www.nmlegis.gov/Legislation/Legislation?Chamber=H&LegType=B&LegNo=118&year=20">Bill History</a> </td></tr> <tr> <td>New York</td> <td>December 12, 2011</td> <td>February 10, 2012</td> <td><a rel="nofollow" class="external text" href="http://open.nysenate.gov/legislation/bill/A4692A-2011">A4692-a and S79-a</a> </td></tr> <tr> <td>Oregon</td> <td>June 18, 2013</td> <td>January 1, 2014</td> <td><a rel="nofollow" class="external text" href="https://olis.oregonlegislature.gov/liz/2023R1/Downloads/MeasureDocument/HB2296/Enrolled">HB 2296</a> </td></tr> <tr> <td>Pennsylvania</td> <td>October 12, 2012</td> <td>January 1, 2013</td> <td><a rel="nofollow" class="external text" href="http://www.legis.state.pa.us/cfdocs/billinfo/bill_history.cfm?syear=2011&sind=0&body=H&type=B&bn=1616">HB 1616</a> </td></tr> <tr> <td>Rhode Island</td> <td>July 17, 2013</td> <td>January 1, 2014</td> <td><a rel="nofollow" class="external text" href="http://webserver.rilin.state.ri.us/BillText13/HouseText13/H5720.pdf">HB 5720</a> </td></tr> <tr> <td>South Carolina</td> <td>June 6, 2012</td> <td>June 14, 2012</td> <td><a rel="nofollow" class="external text" href="http://www.scstatehouse.gov/billsearch.php?billnumbers=4766&session=119&summary=B">HB 4766</a> </td></tr> <tr> <td>Tennessee</td> <td>May 20, 2015</td> <td>January 1, 2016</td> <td><a rel="nofollow" class="external text" href="http://wapp.capitol.tn.gov/apps/BillInfo/Default.aspx?BillNumber=HB0767&ga=109">HB 0767/SB 0972</a> </td></tr> <tr> <td>Texas</td> <td>June 14, 2017</td> <td>September 1, 2017</td> <td><a rel="nofollow" class="external text" href="http://www.legis.state.tx.us/tlodocs/85R/billtext/html/HB03488F.htm">HB 3488</a> </td></tr> <tr> <td>Utah</td> <td>April 1, 2014</td> <td>May 13, 2014</td> <td><a rel="nofollow" class="external text" href="http://le.utah.gov/~2014/bills/static/SB0133.html">SB 133</a> </td></tr> <tr> <td>Vermont</td> <td>May 19, 2010</td> <td>July 1, 2011</td> <td><a rel="nofollow" class="external text" href="http://www.leg.state.vt.us/docs/2010/Acts/ACT113.pdf">S 263</a> </td></tr> <tr> <td>Virginia</td> <td>March 26, 2011</td> <td>July 1, 2011</td> <td><a rel="nofollow" class="external text" href="http://lis.virginia.gov/cgi-bin/legp604.exe?ses=111&typ=bil&val=hb2358&Submit2=Go">HB 2358</a> </td></tr> <tr> <td>Washington</td> <td> </td> <td>January 1, 2022</td> <td><a rel="nofollow" class="external text" href="https://casetext.com/statute/revised-code-of-washington/title-24-corporations-and-associations-nonprofit/chapter-2403a-washington-nonprofit-corporation-act/part-i-formation-and-general-conditions/article-7-public-benefit-corporations/section-2403a245-public-benefit-designation">Wash. Rev. Code § 24.03A.245</a> </td></tr> <tr> <td>Washington, D.C.</td> <td>February 8, 2013</td> <td>May 1, 2013</td> <td><a rel="nofollow" class="external text" href="http://dcclims1.dccouncil.us/images/00001/20130124110730.pdf">B 19-058</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20150927032728/http://dcclims1.dccouncil.us/images/00001/20130124110730.pdf">Archived</a> September 27, 2015, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> </td></tr> <tr> <td>West Virginia</td> <td>March 31, 2014</td> <td>July 1, 2014</td> <td><a rel="nofollow" class="external text" href="http://www.legis.state.wv.us/Bill_Status/bills_text.cfm?billdoc=SB202%20INTR.htm&yr=2014&sesstype=RS&i=202">SB 202</a> </td></tr> <tr> <td>Wisconsin</td> <td>November 27, 2017</td> <td>February 26, 2018</td> <td><a rel="nofollow" class="external text" href="https://docs.legis.wisconsin.gov/2017/proposals/sb298">SB298</a> <a rel="nofollow" class="external text" href="https://docs.legis.wisconsin.gov/2017/related/acts/77">Act 77</a> </td></tr> </tbody></table> </div></div> <p>Connecticut's benefit corporation law is the first to allow "preservation clauses", which allow the corporation's founders to prevent it from reverting to a 'For Profit' entity at the will of their shareholders.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> </p><p>Illinois established a new type of entity called the "benefit LLC", making the state the first to allow <a href="/wiki/Limited_liability_company" title="Limited liability company">limited liability companies</a> the same opportunities afforded to Illinois corporations under the state's benefit corporation law.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p>Washington created <a href="/wiki/Social_purpose_corporation" title="Social purpose corporation">social purpose corporations</a> in 2012 with a similar focus and intent.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Outside_of_the_United_States">Outside of the United States</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=3" title="Edit section: Outside of the United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="Italy">Italy</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=4" title="Edit section: Italy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In December 2015, the Italian Parliament passed legislation recognizing a new kind of organization, named <i>Società Benefit</i>, which was directly modeled after benefit corporations in the United States.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Colombia">Colombia</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=5" title="Edit section: Colombia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 2018, Colombia introduced benefit corporation legislation.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Canada">Canada</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=6" title="Edit section: Canada"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In May 2018, the leader of the British Columbia Green Party introduced a bill to amend the <i>Business Corporations Act</i> to permit the incorporation of "benefit companies" in <a href="/wiki/British_Columbia" title="British Columbia">British Columbia</a>.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> On June 30, 2020, British Columbia became the first province in Canada to offer the option of incorporating as a benefit company.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="United_Kingdom">United Kingdom</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=7" title="Edit section: United Kingdom"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the United Kingdom, <a href="/wiki/Community_interest_company" title="Community interest company">Community Interest Companies</a> (CIC) were introduced in 2005, intended "for people wishing to establish businesses which trade with a social purpose..., or to carry on other activities for the benefit of the community".<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Differences_from_traditional_corporations">Differences from traditional corporations</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=8" title="Edit section: Differences from traditional corporations"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Historically, U.S. corporate law has not been structured or tailored to address the situation of for-profit companies that wish to pursue a social or environmental mission.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> While corporations generally have the ability to pursue a broad range of activities, corporate decision-making is usually justified in terms of creating long-term shareholder value. </p><p>The idea that a corporation has as its purpose to maximize financial gain for its shareholders was first articulated in <i><a href="/wiki/Dodge_v._Ford_Motor_Co." title="Dodge v. Ford Motor Co.">Dodge v. Ford Motor Co.</a></i> in 1919.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> Over time, through both law and custom, the concept of "<a href="/wiki/Shareholder_primacy" title="Shareholder primacy">shareholder primacy</a>" has come to be widely accepted. This was reaffirmed in 2010 for <a href="/wiki/Delaware_General_Corporation_Law" title="Delaware General Corporation Law">Delaware corporations</a> by the case <cite><i>eBay Domestic Holdings, Inc. v. Craig Newmark, et al.</i></cite>, <a rel="nofollow" class="external text" href="http://courts.delaware.gov/Opinions/Download.aspx?id=143440"> 3705-CC</a>, 61 (Del. Ch. 2010)., in which the Delaware Chancery Court stated that a non-financial mission that "seeks not to maximize the economic value of a for-profit Delaware corporation for the benefit of its stockholders" is inconsistent with directors' fiduciary duties. However, the fiduciary duties do not list profit or financial gains specifically, and to date no corporate charters have been written that identify profit as one of those duties. </p><p>In the ordinary course of business, decisions made by a corporation's directors are generally protected by the business judgment rule, under which courts are reluctant to second-guess operating decisions made by directors. In a takeover or change of control situation, however, courts give less deference to directors' decisions and require that directors obtain the highest price in order to maximize shareholder value in the transaction. Thus a corporation may be unable to maintain its focus on social and environmental factors in a change of control situation because of the pressure to maximize shareholder value. </p><p>Mission-driven businesses, impact investors, and social entrepreneurs are constrained by this legal framework, which is not equipped to accommodate for-profit entities whose mission is central to their existence. </p><p>Even in states that have passed "constituency" statutes, which permit directors and officers of ordinary corporations to consider non-financial interests when making decisions, legal uncertainties make it difficult for mission-driven businesses to know when they are allowed to consider additional interests. Without clear case law, directors may still fear civil claims if they stray from their fiduciary duties to the owners of the business to maximize profit.<sup id="cite_ref-:0_4-1" class="reference"><a href="#cite_note-:0-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>By contrast, benefit corporations expand the fiduciary duty of directors to require them to consider non-financial stakeholders as well as the interests of shareholders.<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> This gives directors and officers of mission-driven businesses the legal protection to pursue an additional mission and consider additional stakeholders.<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> The enacting state's benefit corporation statutes are placed within existing state corporation codes so that the codes apply to benefit corporations in every respect except those explicit provisions unique to the benefit corporation form. </p> <div class="mw-heading mw-heading2"><h2 id="Provisions">Provisions</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=9" title="Edit section: Provisions"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Typical major provisions of a benefit corporation are:<sup id="cite_ref-maryland_34-0" class="reference"><a href="#cite_note-maryland-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> </p><p><b>Purpose</b> </p> <ul><li>Shall create general <a href="/wiki/Common_good" title="Common good">public benefit</a>.</li> <li>Shall have the right to name specific public benefit purposes</li> <li>The creation of public benefit is in the best interests of the benefit corporation.</li></ul> <p><b>Accountability</b> </p> <ul><li>Directors' duties are to make decisions in the best interests of the corporation</li> <li>Directors and officers shall consider effect of decisions on shareholders and employees, suppliers, customers, community, environment (together the "stakeholders")</li></ul> <p><b>Transparency</b> </p> <ul><li>Shall publish annual Benefit Report in accordance with recognized third party standards for defining, reporting, and assessing social and environmental performance</li> <li>Benefit Report delivered to: 1) all shareholders; and 2) public website with exclusion of proprietary data</li></ul> <p><b>Right of action</b> </p> <ul><li>Only shareholders and directors have right of action</li> <li>Right of action can be for 1) violation of or failure to pursue general or specific public benefit; 2) violation of duty or standard of conduct</li></ul> <p><b>Change of control/purpose/structure</b> </p> <ul><li>Shall require a minimum status vote which is a 2/3 vote in most states, but slightly higher in a few states</li></ul> <p>Benefit corporations are treated like all other corporations for tax purposes.<sup id="cite_ref-maryland_34-1" class="reference"><a href="#cite_note-maryland-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Benefits">Benefits</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=10" title="Edit section: Benefits"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Benefit corporation laws address concerns held by entrepreneurs who wish to raise growth capital but fear losing control of the social or environmental mission of their business. In addition, the laws provide companies the ability to consider factors other than the highest purchase offer at the time of sale, in spite of the ruling on <i><a href="/wiki/Revlon,_Inc._v._MacAndrews_%26_Forbes_Holdings,_Inc." title="Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc.">Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc.</a></i> Chartering as a benefit corporation also allows companies to distinguish themselves as businesses with a social conscience, and as one that aspires to a standard they consider higher than <a href="/wiki/Profit_maximization" title="Profit maximization">profit-maximization</a> for shareholders.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Yvon_Chouinard" title="Yvon Chouinard">Yvon Chouinard</a>, founder of <a href="/wiki/Patagonia_(clothing)" class="mw-redirect" title="Patagonia (clothing)">Patagonia</a>, has written "Benefit corporation legislation creates the legal framework to enable companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards put in place by founding entrepreneurs."<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> </p><p>Oregon House Bill 3572, signed by the governor of Oregon in July 2023,<sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> allows public contracting agencies to award contracts to benefit corporations if the goods and services are not more than 5% higher than the goods and services available from another company.<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Benefit_corporation_vs._certified_benefit_corporation">Benefit corporation vs. certified benefit corporation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=11" title="Edit section: Benefit corporation vs. certified benefit corporation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>There is a difference between being filing as a <i>benefit corporation</i> in a state, and being a <i>certified benefit corporation</i> also known as a <a href="/wiki/B_Corporation_(certification)" title="B Corporation (certification)">B Corporation</a>. B Corporations voluntarily promise to run their firm with social and environmental causes as a concern.<sup id="cite_ref-:3_39-0" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> To receive their certification from B Lab they must score a minimum of 80 out of 200 on a survey called the B impact assessment.<sup id="cite_ref-:3_39-1" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> Next, they will have to pass through an audit process.<sup id="cite_ref-:3_39-2" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> Finally, the firms wishing to remain certified will be required to pay an annual fee to B Lab.<sup id="cite_ref-:3_39-3" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> Furthermore, companies will pledge to incorporate as a benefit corporation before their re-certification.<sup id="cite_ref-:3_39-4" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Benefit_corporations_and_cooperatives">Benefit corporations and cooperatives</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=12" title="Edit section: Benefit corporations and cooperatives"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Benefit corporations are not synonymous with <a href="/wiki/Cooperative" title="Cooperative">cooperatives</a>, which are a type of corporate governance in which the governance and shares are equally held by their members, such as all employees or all consumers. However, a benefit corporation may also be organized as a cooperative or vice versa. </p> <div class="mw-heading mw-heading2"><h2 id="Taxation">Taxation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=13" title="Edit section: Taxation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A public benefit corporation is a legal entity that is organized and taxed as either an S corporation or C corporation.<sup id="cite_ref-:3_39-5" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> Founders will want to keep in mind that C-corporations experience a double tax associated with profits and again with dividends or payouts to shareholders.<sup id="cite_ref-:4_40-0" class="reference"><a href="#cite_note-:4-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> S corporations are a legal entity that escapes this double taxation but there are certain stipulations that an entity will have to consider before being able to file as an S corporation.<sup id="cite_ref-:4_40-1" class="reference"><a href="#cite_note-:4-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> If you are currently an S or C corporation your company will not change its tax status when you transfer to a public benefit corporation.<sup id="cite_ref-:3_39-6" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> If you are currently an LLC, partnership or sole proprietorship then you will have to change tax status.<sup id="cite_ref-:3_39-7" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> While public benefit corporations are taxed the same as their underlying corporation status, there is added benefit to taxation on charitable contributions. If a firm makes donations to a qualifying non-profit the charitable contributions receive a tax deductible status. This will lower a firm's taxes compared to a typical C-corporation that is not donating money and only focusing on short term profits. </p> <div class="mw-heading mw-heading2"><h2 id="Possible_incentives_to_change_to_a_benefit_corporation">Possible incentives to change to a benefit corporation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=14" title="Edit section: Possible incentives to change to a benefit corporation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Reorganizing as a public benefit corporation affords a corporation's directors and founders protection from shareholder lawsuits when pursuing decisions that benefit the public at the expense of short-term profits.<sup id="cite_ref-:3_39-8" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> Furthermore, firms that transition typically experience advantages in retaining employees, increasing their customer loyalty and attracting prospective talent that will mesh well into the company culture.<sup id="cite_ref-:3_39-9" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Transition_process">Transition process</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=15" title="Edit section: Transition process"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Changing status to a public benefit corporation requires several steps. First, the firm should choose one or more specific public benefit projects that it will pursue. Next, the articles of incorporation should be amended to state at the beginning that the firm is a public benefit corporation. The term public benefit corporation (PBC) or another abbreviation may be added to the entity's name if the founders choose. Finally the share certificates that are issued by the entity should state that the firm is a public benefit corporation. A shareholder vote is required to amend the articles which must include "non-voting" shares. The vote must gain a two-thirds majority to pass, depending on the Articles of Incorporation.<sup id="cite_ref-:3_39-10" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> Shareholders should be notified early that dissenter's rights apply. Dissenter's rights mean that those that vote against the amendment and qualify, may require the company to buy back their shares at fair value before the change.<sup id="cite_ref-:3_39-11" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> Firms making the transition should also perform a "due diligence review" of their business contracts, affairs and status in order to avoid any unforeseen liability associated with changing the form of the entity.<sup id="cite_ref-:3_39-12" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> </p><p>The transition process is different state by state but for Colorado it is as follows. First, the firm must prepare the aforementioned amended articles. Then, they also amend their bylaws and assign responsibilities to the board of directors. Next, the amendments must be approved by the directors before going to a shareholder vote. Finally they file the amended articles of incorporation with the secretary of the state.<sup id="cite_ref-:3_39-13" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> </p><p>If the prior entity is an LLC or partnership there is an extra step required. For these entities the articles of incorporation themselves and the related bylaws must first be prepared and filed with the state secretary. Only then will it be possible to merge or transition the previous form into the benefit corporation.<sup id="cite_ref-:3_39-14" class="reference"><a href="#cite_note-:3-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Investor_and_consumer_preferences">Investor and consumer preferences</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=16" title="Edit section: Investor and consumer preferences"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>According to <i><a href="/wiki/William_Mitchell_Law_Review" class="mw-redirect" title="William Mitchell Law Review">William Mitchell Law Review</a></i> journal, about 68 million US customers have a preference for making decisions about their purchases based on a sense of environmental or social responsibility.<sup id="cite_ref-:5_41-0" class="reference"><a href="#cite_note-:5-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> Some individuals even go as far as using their purchases to "punish" companies for bad corporate behavior when it pertains to environmental or social cause.<sup id="cite_ref-:5_41-1" class="reference"><a href="#cite_note-:5-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> While others do the opposite, and use their purchasing power to reward firms that they believe are doing social or environmental good.<sup id="cite_ref-:5_41-2" class="reference"><a href="#cite_note-:5-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> The <i>Mitchell Law Review</i> also states that around 49% of Americans have at some point in time boycotted firms whose behavior they see as "not in the best interest of society."<sup id="cite_ref-:5_41-3" class="reference"><a href="#cite_note-:5-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> Recent research also suggests that when variables like price and quality are held constant, 87% of customers would switch from a less socially responsible brand to a more socially responsible competitor.<sup id="cite_ref-:5_41-4" class="reference"><a href="#cite_note-:5-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=17" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1259569809">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid 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company</a> – UK company using their profits and assets for the public good</li> <li><a href="/wiki/Conscious_business" title="Conscious business">Conscious business</a> – Business concept</li> <li>Examples of Delaware benefit corporations (known legally as public benefit corporations or PBCs): <ul><li><a href="/wiki/Kickstarter" title="Kickstarter">Kickstarter</a> – US-based crowdfunding platform</li> <li><a href="/wiki/Change.org" title="Change.org">Change.org</a> – American petition website</li></ul></li> <li><a href="/wiki/Flexible_purpose_corporation" title="Flexible purpose corporation">Flexible purpose corporation</a> – California corporation pursuing a social benefit</li> <li><a href="/wiki/Green_America" title="Green America">Green America</a> – US non-profit organization</li> <li><a href="/wiki/Impact_investing" title="Impact investing">Impact investing</a> – Investing in enterprises aiming at creating social/environmental impact alongside profit</li> <li><a href="/wiki/Low-profit_limited_liability_company" title="Low-profit limited liability company">Low-profit limited liability company</a> – Legal form of business entity in the US</li> <li><a href="/wiki/Public-benefit_nonprofit_corporation" title="Public-benefit nonprofit corporation">Public-benefit nonprofit corporation</a> – Chartered by a US state government</li> <li><a href="/wiki/Social_enterprise" title="Social enterprise">Social enterprise</a> – Type of organization</li> <li><a href="/wiki/Social_purpose_corporation" title="Social purpose corporation">Social purpose corporation</a> – For-profit that enables, without requiring, social or environmental decision making</li> <li><a href="/wiki/Socially_responsible_investing" title="Socially responsible investing">Socially responsible investing</a> – Any investment strategy combining both financial performance and social/ethical impact.</li> <li><a href="/wiki/Stakeholder_theory" title="Stakeholder theory">Stakeholder theory</a> – Management and ethical theory that considers multiple constituencies</li> <li><a href="/wiki/Sustainable_business" title="Sustainable business">Sustainable business</a> – Minimal negative or positive effect on the environment</li> <li><a href="/wiki/Workplace_spirituality" title="Workplace spirituality">Workplace spirituality</a> – Grassroots movement since early 1920s</li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=18" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-:6-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-:6_1-0">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFPearlstein2013" class="citation news cs1">Pearlstein, Steven (September 6, 2013). <span class="id-lock-subscription" title="Paid subscription required"><a rel="nofollow" class="external text" href="https://www.washingtonpost.com/business/economy/businesses-focus-on-maximizing-shareholder-value-has-numerous-costs/2013/09/05/bcdc664e-045f-11e3-a07f-49ddc7417125_story.html">"Businesses' focus on maximizing shareholder value has numerous costs"</a></span>. <i><a href="/wiki/The_Washington_Post" title="The Washington Post">The Washington Post</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20150207112613/https://www.washingtonpost.com/business/economy/businesses-focus-on-maximizing-shareholder-value-has-numerous-costs/2013/09/05/bcdc664e-045f-11e3-a07f-49ddc7417125_story.html">Archived</a> from the original on February 7, 2015<span class="reference-accessdate">. Retrieved <span class="nowrap">December 3,</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Washington+Post&rft.atitle=Businesses%27+focus+on+maximizing+shareholder+value+has+numerous+costs&rft.date=2013-09-06&rft.aulast=Pearlstein&rft.aufirst=Steven&rft_id=https%3A%2F%2Fwww.washingtonpost.com%2Fbusiness%2Feconomy%2Fbusinesses-focus-on-maximizing-shareholder-value-has-numerous-costs%2F2013%2F09%2F05%2Fbcdc664e-045f-11e3-a07f-49ddc7417125_story.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABenefit+corporation" class="Z3988"></span></span> </li> <li id="cite_note-:7-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-:7_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:7_2-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:7_2-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLee2018" class="citation journal cs1">Lee, Jaime (May 2018). <a rel="nofollow" class="external text" href="https://scholarship.law.cornell.edu/clr/vol103/iss4/5">"Benefit Corporations: A Proposal for Assessing Liability in Benefit Enforcement Proceedings"</a>. <i><a href="/wiki/Cornell_Law_Review" title="Cornell Law Review">Cornell Law Review</a></i>. <b>103</b> (4): 1075–1100. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0010-8847">0010-8847</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Cornell+Law+Review&rft.atitle=Benefit+Corporations%3A+A+Proposal+for+Assessing+Liability+in+Benefit+Enforcement+Proceedings&rft.volume=103&rft.issue=4&rft.pages=1075-1100&rft.date=2018-05&rft.issn=0010-8847&rft.aulast=Lee&rft.aufirst=Jaime&rft_id=https%3A%2F%2Fscholarship.law.cornell.edu%2Fclr%2Fvol103%2Fiss4%2F5&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABenefit+corporation" class="Z3988"></span></span> </li> <li id="cite_note-:1-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-:1_3-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBagley2018" class="citation book cs1">Bagley, Constance E. 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Triple Pundit.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Emerging+Legal+Forms+Allow+Social+Entrepreneurs+to+Blend+Mission+And+Profits&rft.pub=Triple+Pundit&rft.date=2014-03-11&rft.au=Marc+J.+Lane&rft_id=http%3A%2F%2Fwww.triplepundit.com%2F2014%2F03%2Femerging-legal-forms-allow-social-entrepreneurs-blend-mission-profits%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABenefit+corporation" class="Z3988"></span></span> </li> <li id="cite_note-32"><span class="mw-cite-backlink"><b><a href="#cite_ref-32">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarc_J._Lane" class="citation web cs1">Marc J. Lane. <a rel="nofollow" class="external text" href="http://www.aspenpublishers.com/product.asp?catalog_name=Aspen&category_name=&product_id=0735598088&promoID=EM95&cookie_test=1">"Representing Corporate Officers and Directors"</a>. Aspen Publishers: Wolters Kluwer Law & Business<span class="reference-accessdate">. Retrieved <span class="nowrap">August 8,</span> 2012</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Representing+Corporate+Officers+and+Directors&rft.pub=Aspen+Publishers%3A+Wolters+Kluwer+Law+%26+Business&rft.au=Marc+J.+Lane&rft_id=http%3A%2F%2Fwww.aspenpublishers.com%2Fproduct.asp%3Fcatalog_name%3DAspen%26category_name%3D%26product_id%3D0735598088%26promoID%3DEM95%26cookie_test%3D1&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABenefit+corporation" class="Z3988"></span></span> </li> <li id="cite_note-33"><span class="mw-cite-backlink"><b><a href="#cite_ref-33">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMarc_J._Lane" class="citation web cs1">Marc J. Lane. <a rel="nofollow" class="external text" href="http://www.americanbar.org/publications/young_lawyer/2011-12/december_2011/social_enterprises_new_business_form_driving_social_change.html">"Social Enterprises: A New Business Form Driving Social Change"</a>. The Young Lawyer<span class="reference-accessdate">. Retrieved <span class="nowrap">November 18,</span> 2014</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Social+Enterprises%3A+A+New+Business+Form+Driving+Social+Change&rft.pub=The+Young+Lawyer&rft.au=Marc+J.+Lane&rft_id=http%3A%2F%2Fwww.americanbar.org%2Fpublications%2Fyoung_lawyer%2F2011-12%2Fdecember_2011%2Fsocial_enterprises_new_business_form_driving_social_change.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABenefit+corporation" class="Z3988"></span></span> </li> <li id="cite_note-maryland-34"><span class="mw-cite-backlink">^ <a href="#cite_ref-maryland_34-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-maryland_34-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.csrwire.com/press_releases/29332-Maryland-First-State-in-Union-to-Pass-Benefit-Corporation-Legislation">"Maryland First State in Union to Pass Benefit Corporation Legislation"</a>. <a href="/w/index.php?title=CSRWire_USA&action=edit&redlink=1" class="new" title="CSRWire USA (page does not exist)">CSRWire USA</a>. April 14, 2010.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Maryland+First+State+in+Union+to+Pass+Benefit+Corporation+Legislation&rft.pub=CSRWire+USA&rft.date=2010-04-14&rft_id=http%3A%2F%2Fwww.csrwire.com%2Fpress_releases%2F29332-Maryland-First-State-in-Union-to-Pass-Benefit-Corporation-Legislation&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABenefit+corporation" class="Z3988"></span></span> </li> <li id="cite_note-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-35">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://neweconomicsinstitute.org/publications/new-economy-movement">New-Economy Movement</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20110807214604/http://neweconomicsinstitute.org/publications/new-economy-movement">Archived</a> August 7, 2011, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> article by Gar Alperovitz, also appeared in the June 13, 2011, edition of <a href="/wiki/The_Nation" title="The Nation">The Nation</a></span> </li> <li id="cite_note-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-36">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.patagonia.com/stories/benefit-corporation-update-patagonia-passes-b-impact-assessment-improves-score-to-116/story-17871.html">"Benefit Corporation Update: Patagonia Passes B Impact Assessment, Improves Score to 116 - Patagonia"</a>. <i>www.patagonia.com</i>. October 24, 2014.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.patagonia.com&rft.atitle=Benefit+Corporation+Update%3A+Patagonia+Passes+B+Impact+Assessment%2C+Improves+Score+to+116+-+Patagonia&rft.date=2014-10-24&rft_id=https%3A%2F%2Fwww.patagonia.com%2Fstories%2Fbenefit-corporation-update-patagonia-passes-b-impact-assessment-improves-score-to-116%2Fstory-17871.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABenefit+corporation" class="Z3988"></span></span> </li> <li id="cite_note-37"><span class="mw-cite-backlink"><b><a href="#cite_ref-37">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://olis.oregonlegislature.gov/liz/2023R1/Measures/Overview/HB3572">"HB 3572 Enrolled"</a>. <i>Oregon State Legislature</i><span class="reference-accessdate">. Retrieved <span class="nowrap">December 26,</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Oregon+State+Legislature&rft.atitle=HB+3572+Enrolled&rft_id=https%3A%2F%2Folis.oregonlegislature.gov%2Fliz%2F2023R1%2FMeasures%2FOverview%2FHB3572&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABenefit+corporation" class="Z3988"></span></span> </li> <li id="cite_note-38"><span class="mw-cite-backlink"><b><a href="#cite_ref-38">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKrizanac2023" class="citation web cs1">Krizanac, Antonija (November 14, 2023). <a rel="nofollow" class="external text" href="https://www.dwt.com/blogs/government-contracts-insider/2023/11/oregon-construction-contract-law-changes-2023">"Building in 2024: Recent Oregon Legislative Changes Impacting the Construction Industry"</a>. <i>Davis Wright Tremaine LLP</i><span class="reference-accessdate">. Retrieved <span class="nowrap">December 26,</span> 2023</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Davis+Wright+Tremaine+LLP&rft.atitle=Building+in+2024%3A+Recent+Oregon+Legislative+Changes+Impacting+the+Construction+Industry&rft.date=2023-11-14&rft.aulast=Krizanac&rft.aufirst=Antonija&rft_id=https%3A%2F%2Fwww.dwt.com%2Fblogs%2Fgovernment-contracts-insider%2F2023%2F11%2Foregon-construction-contract-law-changes-2023&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABenefit+corporation" class="Z3988"></span></span> </li> <li id="cite_note-:3-39"><span class="mw-cite-backlink">^ <a href="#cite_ref-:3_39-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:3_39-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:3_39-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-:3_39-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-:3_39-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-:3_39-5"><sup><i><b>f</b></i></sup></a> <a href="#cite_ref-:3_39-6"><sup><i><b>g</b></i></sup></a> <a href="#cite_ref-:3_39-7"><sup><i><b>h</b></i></sup></a> <a href="#cite_ref-:3_39-8"><sup><i><b>i</b></i></sup></a> <a href="#cite_ref-:3_39-9"><sup><i><b>j</b></i></sup></a> <a href="#cite_ref-:3_39-10"><sup><i><b>k</b></i></sup></a> <a href="#cite_ref-:3_39-11"><sup><i><b>l</b></i></sup></a> <a href="#cite_ref-:3_39-12"><sup><i><b>m</b></i></sup></a> <a href="#cite_ref-:3_39-13"><sup><i><b>n</b></i></sup></a> <a href="#cite_ref-:3_39-14"><sup><i><b>o</b></i></sup></a></span> <span class="reference-text">The Alliance Center. "What Is the Difference between a Certified B Corporation and a Public Benefit Corporation (PBC)?" The Alliance Center Organization, <a rel="nofollow" class="external free" href="http://www.thealliancecenter.org/wp-content/uploads/2019/11/Benefit-Corporation-101-Reduced.pdf">http://www.thealliancecenter.org/wp-content/uploads/2019/11/Benefit-Corporation-101-Reduced.pdf</a>.</span> </li> <li id="cite_note-:4-40"><span class="mw-cite-backlink">^ <a href="#cite_ref-:4_40-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:4_40-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations">"S Corporations | Internal Revenue Service"</a>. <i>www.irs.gov</i><span class="reference-accessdate">. Retrieved <span class="nowrap">December 18,</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.irs.gov&rft.atitle=S+Corporations+%7C+Internal+Revenue+Service&rft_id=https%3A%2F%2Fwww.irs.gov%2Fbusinesses%2Fsmall-businesses-self-employed%2Fs-corporations&rfr_id=info%3Asid%2Fen.wikipedia.org%3ABenefit+corporation" class="Z3988"></span></span> </li> <li id="cite_note-:5-41"><span class="mw-cite-backlink">^ <a href="#cite_ref-:5_41-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:5_41-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:5_41-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-:5_41-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-:5_41-4"><sup><i><b>e</b></i></sup></a></span> <span class="reference-text">Babson, William H. Clark Jr. & Elizabeth K. "How Benefit Corporations Are Redefining the Purpose of Business Corporations." <i>William Mitchell Law Review</i> (2012): 818-842.</span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Benefit_corporation&action=edit&section=19" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 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ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/40px-Wikiversity_logo_2017.svg.png" decoding="async" width="40" height="33" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/60px-Wikiversity_logo_2017.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/0b/Wikiversity_logo_2017.svg/80px-Wikiversity_logo_2017.svg.png 2x" data-file-width="626" data-file-height="512" /></span></span></div> <div class="side-box-text plainlist">Wikiversity has learning resources about <i><b><a href="https://en.wikiversity.org/wiki/Special:Search/Benefit_corporation" class="extiw" title="v:Special:Search/Benefit corporation">Benefit corporation</a></b></i></div></div> </div> <ul><li><a rel="nofollow" class="external text" href="http://www.socentlawtracker.org/#/bcorps">Social Enterprise Law Tracker</a> – Interactive map visualizing the progression of benefit corporation legislation across the United States</li> <li><a rel="nofollow" class="external text" href="http://www.benefitcorp.net">BenefitCorp.net</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20200820043515/http://www.benefitcorp.net/">Archived</a> August 20, 2020, at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> – Information about creating and running benefit corporations</li> <li><a rel="nofollow" class="external text" href="https://legislature.vermont.gov/statutes/fullchapter/11a/021">Vermont benefit corporation statute</a> – an example of legislation</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20130130003520/http://www.leginfo.ca.gov/cgi-bin/displaycode?section=corp&group=14001-15000&file=14600-14604">California benefit corporation statute</a></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 1em;line-height:1.5em;text-align:center}.mw-parser-output .navbox-group{white-space:nowrap;text-align:right}.mw-parser-output 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racism">Environmental racism</a> / <a href="/wiki/Environmental_racism_in_Russia" title="Environmental racism in Russia">in Russia</a> / <a href="/wiki/Environmental_racism_in_the_United_States" title="Environmental racism in the United States">in the United States</a> / <a href="/wiki/Environmental_racism_in_Western_Europe" title="Environmental racism in Western Europe">in Western Europe</a> / <a href="/wiki/Environmental_inequality_in_the_United_Kingdom" title="Environmental inequality in the United Kingdom"> inequality in the UK</a> / <a href="/wiki/Environmental_injustice_in_Europe" title="Environmental injustice in Europe">injustice in Europe</a></li> <li><a href="/wiki/Ethical_banking" title="Ethical banking">Ethical banking</a></li> <li><a href="/wiki/Ethical_code" title="Ethical code">Ethical code</a></li> <li><a href="/wiki/Extended_producer_responsibility" title="Extended producer responsibility">Extended producer responsibility</a></li> <li><a href="/wiki/Externality" title="Externality">Externality</a></li> <li><a href="/wiki/Harm" title="Harm">Harm</a></li> <li><a href="/wiki/Little_Eichmanns" title="Little Eichmanns">Little Eichmanns</a></li> <li><a href="/wiki/Loss_and_damage" class="mw-redirect" title="Loss and damage">Loss and damage</a></li> <li><a href="/wiki/Organizational_ethics" title="Organizational ethics">Organizational ethics</a></li> <li><a href="/wiki/Organizational_justice" title="Organizational justice">Organizational justice</a></li> <li><a href="/wiki/Pollution" title="Pollution">Pollution</a></li> <li><a href="/wiki/Principles_for_Responsible_Investment" title="Principles for Responsible Investment">Principles for Responsible Investment</a></li> <li><a href="/wiki/Racism" title="Racism">Racism</a></li> <li><a href="/wiki/Impact_Assessment" class="mw-redirect" title="Impact Assessment"> Social impact assessment</a></li> <li><a href="/wiki/Social_justice" title="Social justice">Social justice</a></li> <li><a href="/wiki/Social_responsibility" title="Social responsibility">Social responsibility</a></li> <li><a href="/wiki/Stakeholder_theory" title="Stakeholder theory">Stakeholder theory</a></li> <li><a href="/wiki/Sullivan_principles" title="Sullivan principles">Sullivan principles</a></li> <li><a href="/wiki/Transparency_(behavior)" title="Transparency (behavior)">Transparency (behavioral</a></li> <li><a href="/wiki/Transparency_(behavior)" title="Transparency (behavior)">social)</a></li> <li><a href="/wiki/United_Nations_Global_Compact" title="United Nations Global Compact">UN Global Compact</a></li></ul> </div></td><td class="noviewer navbox-image" rowspan="6" style="width:1px;padding:0 0 0 2px"><div><span typeof="mw:File"><a href="/wiki/File:OilCleanupAfterValdezSpill.jpg" class="mw-file-description" title="Clean up after the Exxon Valdez oil spill"><img alt="Clean up after the Exxon Valdez oil spill" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/OilCleanupAfterValdezSpill.jpg/125px-OilCleanupAfterValdezSpill.jpg" decoding="async" width="125" height="81" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/OilCleanupAfterValdezSpill.jpg/188px-OilCleanupAfterValdezSpill.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/52/OilCleanupAfterValdezSpill.jpg/250px-OilCleanupAfterValdezSpill.jpg 2x" data-file-width="400" data-file-height="259" /></a></span></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Social_accounting" title="Social accounting">Social<br />accounting</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Corporate_crime" title="Corporate crime">Corporate crime</a></li> <li><a href="/wiki/Double_bottom_line" title="Double bottom line">Double bottom line</a></li> <li><a href="/wiki/Ethical_positioning_index" title="Ethical positioning index">Ethical positioning index</a></li> <li><a href="/wiki/Higg_Index" title="Higg Index">Higg Index</a></li> <li><a href="/wiki/Impact_assessment" title="Impact assessment">Impact assessment</a> (<a href="/wiki/Environmental_impact_assessment" title="Environmental impact assessment">environmental</a></li> <li><a href="/wiki/Equality_impact_assessment" title="Equality impact assessment">equality</a></li> <li><a href="/wiki/Social_impact_assessment" title="Social impact assessment">social</a>)</li> <li><a href="/wiki/ISO_26000" title="ISO 26000">ISO 26000</a></li> <li><a href="/wiki/ISO_45001" title="ISO 45001">ISO 45001</a></li> <li><a href="/wiki/Genuine_progress_indicator" title="Genuine progress indicator">Genuine progress indicator</a></li> <li><a href="/wiki/Performance_indicator" title="Performance indicator">Performance indicator</a></li> <li><a href="/wiki/SA8000" title="SA8000">SA8000</a></li> <li><a href="/wiki/Social_return_on_investment" title="Social return on investment">Social return on investment</a></li> <li><a href="/wiki/Whole-life_cost" title="Whole-life cost">Whole-life cost</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Environmental_accounting" title="Environmental accounting">Environmental<br />accounting</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Carbon_accounting" title="Carbon accounting">Carbon accounting</a></li> <li><a href="/wiki/Eco-Management_and_Audit_Scheme" title="Eco-Management and Audit Scheme">Eco-Management and Audit Scheme</a></li> <li><a href="/wiki/Emission_inventory" title="Emission inventory">Emission inventory</a></li> <li><a href="/wiki/Environmental_full-cost_accounting" title="Environmental full-cost accounting">Environmental full-cost accounting</a> / <a href="/wiki/Environmental_conflict" title="Environmental conflict">Environmental conflict</a> / <a href="/wiki/Environmental_impact_assessment" title="Environmental impact assessment">impact assessment</a> / <a href="/wiki/Environmental_management_system" title="Environmental management system">management system</a> / <a href="/wiki/Environmental_profit_and_loss_account" title="Environmental profit and loss account">profit-and-loss account</a></li> <li><a href="/wiki/ISO_14000" class="mw-redirect" title="ISO 14000">ISO 14000</a></li> <li><a href="/wiki/ISO_14031" title="ISO 14031">ISO 14031</a></li> <li><a href="/wiki/Life-cycle_assessment" title="Life-cycle assessment">Life-cycle assessment</a></li> <li><a href="/wiki/Pollutant_release_and_transfer_register" title="Pollutant release and transfer register">Pollutant release and transfer register</a></li> <li><a href="/wiki/Sustainability_accounting" title="Sustainability accounting">Sustainability accounting</a> / <a href="/wiki/Sustainability_measurement" title="Sustainability measurement">measurement</a> / <a href="/wiki/Sustainability_metrics_and_indices" title="Sustainability metrics and indices">metrics and indices</a> / <a href="/wiki/Sustainability_standards_and_certification" title="Sustainability standards and certification">standards and certification</a> / <a href="/wiki/Supply_chain_sustainability" title="Supply chain sustainability">supply chain</a></li> <li><a href="/wiki/Toxics_Release_Inventory" title="Toxics Release Inventory">Toxics Release Inventory</a></li> <li><a href="/wiki/Triple_bottom_line" title="Triple bottom line">Triple bottom line</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Reporting</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Global_Reporting_Initiative" title="Global Reporting Initiative">Global Reporting Initiative</a></li> <li><a href="/wiki/GxP" title="GxP">GxP guidelines</a></li> <li><a href="/wiki/Sustainability_reporting" title="Sustainability reporting">Sustainability reporting</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Audit" title="Audit">Auditing</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Community-based_monitoring" title="Community-based monitoring">Community-based monitoring</a></li> <li><a href="/wiki/Environmental_audit" title="Environmental audit">Environmental</a> (<a href="/wiki/Environmental_certification" title="Environmental certification">certification</a>)</li> <li><a href="/wiki/Fair_trade" title="Fair trade">Fair trade</a> (<a href="/wiki/Fair_trade_certification" title="Fair trade certification">certification</a>)</li> <li><a href="/wiki/ISO_19011" title="ISO 19011">ISO 19011</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Accord_on_Fire_and_Building_Safety_in_Bangladesh" title="Accord on Fire and Building Safety in Bangladesh">Bangladesh Accord</a></li> <li><a class="mw-selflink selflink">Benefit corporation</a></li> <li><a href="/wiki/Child_labour" title="Child labour">Child labour</a></li> <li><a href="/wiki/Community_interest_company" title="Community interest company">Community interest company</a></li> <li><a href="/wiki/Conflict_of_interest" title="Conflict of interest">Conflict of interest</a></li> <li><a href="/wiki/Disaster" title="Disaster">Disasters</a></li> <li><a href="/wiki/Disinvestment" title="Disinvestment">Disinvestment</a></li> <li><a href="/wiki/Ecolabel" title="Ecolabel">Eco-labeling</a></li> <li><a href="/wiki/Environmental_degradation" title="Environmental degradation">Environmental degradation</a></li> <li><a href="/wiki/Environmental_pricing_reform" title="Environmental pricing reform">Environmental pricing reform</a></li> <li><a href="/wiki/Environmental,_social,_and_corporate_governance" class="mw-redirect" title="Environmental, social, and corporate governance">Environmental, social, and corporate governance</a></li> <li><a href="/wiki/Ethical_consumerism" title="Ethical consumerism">Ethical consumerism</a></li> <li><a href="/wiki/Euthenics" title="Euthenics">Euthenics</a></li> <li><a href="/wiki/Global_justice_movement" title="Global justice movement">Global justice movement</a></li> <li><a href="/wiki/Health_impact_assessment" title="Health impact assessment">Health impact assessment</a></li> <li><a href="/wiki/Market_governance_mechanism" title="Market governance mechanism">Market governance mechanism</a></li> <li><a href="/wiki/Product_certification" title="Product certification">Product certification</a></li> <li><a href="/wiki/Public_participation" title="Public participation">Public participation</a></li> <li><a href="/wiki/SDG_Publishers_Compact" title="SDG Publishers Compact">SDG Publishers Compact</a></li> <li><a href="/wiki/Social_enterprise" title="Social enterprise">Social enterprise</a></li> <li><a href="/wiki/Socially_responsible_business" title="Socially responsible business">Socially responsible business</a></li> <li><a href="/wiki/Socially_responsible_investing" title="Socially responsible investing">Socially responsible investing</a></li> <li><a href="/wiki/Socially_responsible_marketing" title="Socially responsible marketing">Socially responsible marketing</a></li> <li><a href="/wiki/Stakeholder_(corporate)" title="Stakeholder (corporate)">Stakeholder</a> (<a href="/wiki/Stakeholder_engagement" title="Stakeholder engagement">engagement</a>)</li> <li><a href="/wiki/Supply_chain_management" title="Supply chain management">Supply chain management</a></li></ul> </div></td></tr><tr><td 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