A benefit corporation or “B-Corp” is a corporate entity that includes positive impact on society and the environment in addition to profit as its legally defined goals.
The purpose of a benefit corporation includes creating general public benefit, which is defined as a material positive impact on society and the environment. A benefit corporation’s directors and officers operate the business with the same authority as in a traditional corporation but are required to consider the impact of their decisions not only on shareholders but also on society and the environment. In a traditional corporation shareholders judge the company’s financial performance; with a B-corporation shareholders judge performance based on how a corporation’s goals benefit society and the environment. Shareholders determine whether the corporation has made a material positive impact.
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Customers • Drake Sadler, co-founder of Traditional Medicinals, is now
partnering with mostly native and impoverished communities across the globe that farm and gather medicinal plants.