FAIRFAX, Va., Sept. 8 -- George Mason University issued the following news release:
The term "benefit corporation" is becoming increasingly familiar as a label for companies with a hybrid commitment to the social good as well as profit-making. Interestingly, the term itself has taken on a hybrid meaning.
"Benefit corporation" is a legal structure recognized by most U.S. states, but the term is often used synonymously with "B Corp," a certification granted by B Lab, a global NGO. The confusion is understandable, given that B Lab was the principal lobbying force behind the adoption of "benefit corporation" as an official legal entity.
"The legal framework is viewed by proponents as a way to help benefit corporations 'lock in' their social ...