- B corporation
B corporations (the B standing for "beneficial") are a type of organization proposed by
B Lab ofPennsylvania . They use the power of business to create public benefit. B Corporations:
# Meet comprehensive and transparent social and environmental performance standards;
# Legally expand the responsibilities of the corporation to include stakeholder interests;
# Build collective voice through the power of the unifying B Corporation brand.Benefits
Purported benefits to classification as a B corporation are:
* Differentiate your business
* Maintain mission as you scale or plan succession
* Gain access to value-added services
* Build constituency for social capital markets and policy incentives
* Influence the market beyond the success of your individual companyClassification
To be classified as a B corporation under the B Lab system, the corporation must:
# Achieve a minimum score of 80 (out of 200) on the B Ratings System, a tool to assess a company's social and environmental performance.
# Agree to legally expand the responsibilities of your company to include consideration of stakeholder interests.
# Go to bcorporation.net for the legal language appropriate to your state and corporate structure.
# Sign the B Corporation Declaration of Interdependence and Term Sheet.External links
* [http://www.bcorporation.net The B Lab home page]
* [http://www.inc.com/magazine/20070701/priority-a-new-kind-of-company.html Inc. Magazine] (July 2007)
* [http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/05/18/BULH10JFU3.DTL San Francisco Chronicle] (May 18, 2008)
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