benifit

Benefits

Benefit corporation laws address concerns held by entrepreneurs who wish to raise growth capital but fear losing control of the social or environmental mission of their business. In addition, the laws provide companies the ability to consider factors other than the highest purchase offer at the time of sale, in spite of the ruling on Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc. Chartering as a benefit corporation also allows companies to distinguish themselves as businesses with a social conscience, and as one that aspires to a standard they consider higher than mere profit-maximization for shareholders.[6]
[edit]Third-party certification

Chartering as a benefit corporation is not the same as a third-party certified "B corporation". The organization B-Lab provides, for a paid fee, private third-party certification for various forms of for-profit enterprises. To be certified by B Labs, a company must achieve a minimum score of 80 points to show "positive impact", pass a phone review, submit supporting documentation on a portion of their application, and be available for a possible on-site review, for which it will receive advance notice. B Lab conducts on-site reviews of only 10% of the Certified businesses each year. B Lab certification has no legal standing. B Lab is run by business people for business people.