Category Archives: Benefit Corporation

California Passes Legislation Creating New Structures for Social Enterprise

Increasingly, social entrepreneurs struggle to choose a legal form for their ventures. The traditional legal forms are not suited to blended social and profit-making purposes. Mangers of a for-profit socially responsible business can find themselves liable to shareholders for failure to maximize profit at all coasts. Conversely, managers of tax-exempt nonprofits conducting social entrepreneurial activities can find themselves liable to the IRS when they try to reward investors and incentivize results.Read the full article

B Corps is Not a New Legal Form by Keren G. Raz

Critically, a Certified B Corporation (hereinafter referred to as B Corps or a B Corporation) is a label given by B Lab to businesses that pass a socially responsible certification process. B Corps is not a legal form and has no legal significance. A benefit corporation, on the other hand, is a new legal form, that became law in Maryland on October 1, 2010. Legislation similar to that in Maryland will become law in Vermont in July and was recently passed by the New Jersey legislature.Read the full article

Carter Law Group – A Certified B Corp.

Carter Law Group is pleased to announce that B Labs has certified us as a B Corporation, Arizona’s first!Read the full article