Eine B Corporation darf nicht verwechselt werden mit einer „Benefit Corporation“, die in den USA eine eigene Rechtsform darstellt und durch staatliches Recht definiert ist. Are these for-profit models better for a company to make an impact in the world versus founding a nonprofit entity? Creating a non-profit corporation is a two-step process. Rather, it is a for profit corporation that generates a public benefit. Benefit Corp chart for more specifics.) Subscribe to our newsletter to stay informed of social enterprise news, events, jobs and opportunities. Despite certain similarities, there are important differences between public benefit corporations and B Corps, which I’ve outlined below. Keywords: Benefit corporation, B Corp, Public benefit, Società benefit, CSR, Italy Benefit corporations and B Corp for sustainable development Sustainability has been acknowledged as a paradigm for the twenty-first century (OECD, 2016; UN, 2015) that calls for business to serve society. For example, Etsy is a public benefit corporation with a B Corp certification. distinction is right for your organization, check out the following comparison chart: To become a B Corp, businesses need to complete the B Impact Assessment and ensure they meet the legal requirements. If B Lab is to achieve its transformative vision — “that one day all companies compete not only to be the best in the world, but the best for the world” — then the big, publicly traded companies that dominate the U.S. economy need to become B Corps. Code Ann. Availability: B Corps are available to every business regardless of corporate structure, state, or county of incorporation. Benefit Corporation (the Legal Structure) and B Corp (the Certification from B Lab) This is often a source of confusion for entrepreneurs, but the Benefit Corporation form should be distinguished from the B Corp certification, which is a social and environment impact certification from B Lab, and not its own legal corporate mechanism. A benefit corporation is not a non-profit organization. A benefit corporation is different from the “B Corporation” or “B Corp.” The “B Corp” is a certification issued by the organization B Lab Company to businesses that apply and meet certain standards of social and environmental performance, accountability, and transparency. The comparison isn’t apples to apples. A benefit corporation’s directors, in making decisions and discharging their duties, must take into account various factors, such as whether they are furthering a general public benefit, as well as the impact of their decision on their shareholders, employees, community, and the environment. To “Cross the Rubicon” is to irrevocably commit oneself to a revolutionary course of action. A Public Benefit Corporation is an actual legal entity that bakes into its Certificate of Incorporation a “public benefit”. Defining a Certified B Corporation. The creation of a general or specific public benefit by the benefit corporation. If you have any additional questions, don’t hesitate to contact firstname.lastname@example.org. Up until just a few years ago, there was no specific corporate form for a company that wanted to legally consider the impact of its activities on … Both designations are a great way for a company to differentia… While all three terms are used in reference to the “business for good” space, they encompass three distinct (but overlapping) concepts. The two platforms were created with different intentions, audiences and benefit opportunities in mind. Many entrepreneurs treat the decision to become a PBC and a Certified B Corp … Traditionally speaking, corporations are businesses that try to maximize profits for their shareholders. These options include organizing as a public benefit corporation and obtaining a “B Corp” certification. A benefit corporation, also known as a "B Corp," is a brand new type of business structure that empowers the corporation’s leadership to balance public benefits against shareholder profits. B Lab provides additional certification (B Corp) if organizations choose to pursue it, but benefit corporations do not need to be certified as a B Corp. You can still get the "B Corp" designation from them if legislation is not available in your state, but you do need to be a for-profit entity. Cost: PBC state filing fees range from $70-$200. 4. The IRS just released Information Letter 2016-0063, confirming that a “benefit” corporation may deduct payments to charity as an ordinary business expense. Becoming a public benefit corporation “protects mission through capital raises and leadership changes, creates more flexibility when evaluating potential sale and liquidity options, and prepares businesses to lead a mission-driven life post-IPO,” according to benefitcorp.net. It uses recycled paper and renewable energy and gives food scraps to a local farmer. Exclusive access to B Hive platform that allows B Corps to connect, ask questions and join groups, annual B Corp Champions retreat. Wrong, again. B All That You Can B! Accountability: Directors are required to consider impact on all stakeholders. 2. Advocates for this new type of entity—typically called a benefit corporation, or B Corp– say that it fills a […] Any of the interests or factors referred to in subdivision (b) of Section 14620. Most likely not. There is a distinction between a Public Benefit Corporation (PBC) and a B Corp. 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