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Dante-Gabryell Monson

B-Corp. vs. Benefit Corporation - 0 views

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    One can be a B Corps and yet be incorporated legally as a C corporation, an LLC, even a sole proprietorship. In other words, a company can be certified as a B Corps without ever incorporating as a benefit corporation * One can be a benefit corporation under Maryland law without being a B Corps. The Maryland law does not require that benefit corporations be certified as B Corps. Rather, it requires that benefit corporations' social and environmental performance be assessed by an independent third party that makes publicly available or accessible the following information: 1. The factors considered when measuring the performance of a business; 2. The relative weightings of those factors; and 3. The identity of the persons who developed and control changes to the standard and the process by which those changes were made. The key difference is that the law requires a third party assessment, whereas B Corps is a certification.
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