Benefit Corporation Vs. Certified B Corp in Plain English.
Companies like Etsy, Patagonia and Warby Parker are among a new generation of socially responsible businesses that can fall under the category of a benefit corporation or a Certified B Corp.
But what is a benefit corporation? And how is it different from a Certified B Corp? Let’s break down the two types of organizations:
…A benefit corporation is a true legal entity classification for a for-profit business. Social entrepreneurs can choose this classification to mirror their desires for fiduciary and environmental responsibility….
…Benefit corporations can go an extra step and seek B Corp certification. B Corp certification is a third party certification and includes considerations for the following key items:…