What’s a “Benefit Corporation”?
This is very interesting; I hope it catches on. I for one, would be all over this, and I expect a lot of people might…
“…Maybe something like the love child of Grist and Seventh Generation. Explains the Washington Post:
‘At its core, benefit corporations blend the altruism of nonprofits with the business sensibilities of for-profit companies. These hybrid entities pay taxes and can have shareholders, without the risk of being sued for not maximizing profits. Companies can consider the needs of customers, workers, the community or environment and be well within their legal right.’
It’s a new legal designation for socially responsible businesses. Ethical or environmental requirements would be written into the company’s charter, and the company has to report annually on its progress and undergo a third-party audit. A business decision like opting for more expensive but local suppliers wouldn’t necessarily be penalized…”
Click on any part of the link above to read the whole article…I think this is fantastic.