Benefit corporation

Rare card · No. 49798

In business, particularly in United States corporate law, a benefit corporation (or in some U.S. states, a public benefit corporation) is a type of for-profit corporate entity 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 to the belief that increasing shareholder value (profits and/or share price) is the only overarching or compelling interest of a corporation. Benefit corporations explicitly specify that profit is not their only goal. An ordinary corporation may change to a benefit corporation merely by stating in its approved corporate bylaws that it is a benefit corporation, while in some jurisdictions, the corporation's name must also be changed to state that it is a benefit corporation as well. 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...

Read on Wikipedia · Image Psiĥedelisto, CC0