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What are Benefit Corporations and “B Corps”? By Connie Allsopp, PhD

     In short, a B Corp is a for-profit corporation that receives a certification from a private company called B Lab. B Lab makes companies meet particular “social benefit” requirements in order to get certified, similar to certificated organic coffee beans that support the ethical values of Fair Trade. The B Corp is taxed similar to a regular corporation, unlike a charity or not-for-profit explained later. “B Lab” it self is actually a not-for-profit organization based in Washington DC whose purpose is to certify ‘Businesses’ as triple bottom line organizations. B Corps must go through a rigorous Certification process and must be re-certified every two years. B Corps include such global companies as Patagonia, Ben and Jerry’s Ice Cream and in Canada, BDC and Tartan Communications.

     The two specific examples explained later...

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