Benefit corporation legislation, which creates a new corporate form, helps return business to its proper role in society: creating shared and durable prosperity. To date, there are around 1,000 registered benefit corporations.
As benefit corporations, business leaders and investors have a new freedom to make decisions that are in the best interests of society as well as their bottom line, and we – as citizens, customers, workers, and investors -- have the tools to identify and support them.
Please visit benefitcorp.net to find resources for businesses and attorneys interested in learning more.
On July 17, 2013, Delaware became the 19th state (plus D.C.) to enact benefit corporation legislation, but as home to most venture-backed businesses, 50% of all publicly-traded companies, and 64% of the Fortune 500, it is the most important state for businesses that seek access to venture capital, private equity, and public capital markets. The path is now clear to scale business as a force for good.
In recognition of this historic moment, more than 600 businesses signed an Open Letter inviting their peers to join the movement to redefine success in business.
The Difference Between Benefit Corporations and Certified B Corps
Benefit Corporations and Certified B Corporations are often, and understandably, confused. Both are sometimes called B Corps. They share much in common and have a few important differences.
Certified B Corporation is a certification conferred by the nonprofit B Lab. Benefit corporation is a legal status administered by the state.
Benefit corporations do NOT need to be certified. Certified B Corporations have been certified as having met a high standard of overall social and environmental performance, and as a result have access to a portfolio of services and support from B Lab that benefit corporations do not.
Read the Open Letter to Business Leaders
Read Delaware Governor Jack Markell's Op-Ed "A New Kind of Corporation"
Read Chrystia Freeland's New York Times / International Herald Tribune article, "Capitalism But with a Little Heart"
Read B Lab's Forbes / Skoll World Forum article "Tipping Point"