The authoritative guide to Benefit CorporationsEntrepreneurs and leaders often have an inspiring vision for how their business can benefit society. In recent years a new legal structure has emerged, the "Benefit Corporation," "Public Benefit Corporation," or "B-Corp," which helps organizations make this vision a reality. Companies like Patagonia, Kickstarter, Warby Parker, Danone North America, Allbirds, and King Arthur Baking have become Benefit Corporations to help advance both their business and their broader mission. Rather than aim strictly at maximizing profits, thousands of revolutionary companies are now committing to consider their business strategy’s impact on their employees, customers, suppliers, the environment and anyone materially affected by their activities. The goal of benefit corporations is to foster a new, more humane, and sustainable capitalism by pursuing both profits and mission.Becoming a Public Benefit Corporation explains in-depth these new forms, when they make sense, and how they can help visionary leaders and organizations balance the tradeoffs between profits and mission. Law professor and corporate governance expert Michael Dorff explains the basic framework of corporate governance and how these forms fit in. He also explains their weaknesses, arguing that the enforcement mechanisms around benefit corporations are too weak to prevent "purpose washing." Using real-life examples from top companies, this book shows how leaders, board members, and advisors how to use the benefit corporation structure to advance their inspiring mission.

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