Читать книгу Go Legal Yourself! - Kelly Bagla - Страница 22

A Benefit Corporation is a relatively new type of business entity. Originally implemented by legislation in Maryland in 2010, this new entity is now recognized in half the states, while legislation is pending in many others. A Benefit Corporation is a for-profit corporation entity that in addition to profit also takes society and the environment into consideration when making decisions. The goal of this corporate structure is to encourage for-profit companies to identify social missions and demonstrate corporate sustainability efforts. To be recognized as a Benefit Corporation the company must include:

 Purpose: Benefit Corporations commit to creating public benefit and sustainable value in addition to generating profit. This sustainability is an integral part of their value proposition.

 Accountability: Benefit Corporations are committed to considering the company's impact on society and the environment in order to create long term sustainable value for all shareholders.

 Transparency: Benefit Corporations are required to report to their shareholders, and in most cases the wider public, in most states annually and using a third-party standard, showing their progress toward achieving social and environmental impact.

Becoming a Benefit Corporation has advantages for everyone in and related to your business, from shareholders and directors to your customers. These benefits include:

 Expanded Shareholder Rights: Investing in a Benefit Corporation gives impact investors the assurance they need that they will be able to hold a company accountable to its mission in the future. This could aid companies in attracting impact investment capital.

 Reputation for Leadership: Your business will join other high profile, highly respected companies as Benefit Corporations and be at the forefront of a growing movement.

 Attracting Talent: According to Inc. Magazine writer Peter Economy, by 2020, Millennials (those born between about 1980 and 2000) are forecast to represent half of the American workforce, and by 2025, 75% of the global workforce. Benefit Corporation status gives prospective employees confidence that a company is committed to their mission.

 Increased Access to Private Investment Capital: Benefit Corporation status can make your company more attractive to investors as a company with increased legal protection, accountability, and transparency around its mission. Benefit Corporations can also speed up investor due diligence, since they produce an annual benefit report, which describes their qualitative activities aimed at producing general public benefit.