A primer on the difference between B Corps and Benefit Corps
Last month, the state of Nevada became the 17th state to pass legislation enabling businesses to incorporate as benefit corporations. There are nearly a dozen other states considering legislation, illustrating just how rapidly this idea has spread since Maryland became the first to pass legislation in April 2010. Legislatures in all corners of the U.S. have supported this concept overwhelmingly. This widespread acceptance of a need for a corporation that is motivated by more than just profit is an intriguing trend especially as other environmental and economic trends continue to move in the opposite direction.