Source: https://www.barrettlaw.com/blog/business-and-corporate-law/a-new-kind-of-business-the-benefit-corporation
Timestamp: 2019-04-19 03:11:10+00:00

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The benefit corporation differs from both a traditional C corporation and a nonprofit corporation. A traditional C corporation focuses on maximizing gains for its shareholders, while a benefit corporation focuses on social or environmental goals in addition to making a profit. Further, unlike in a traditional corporation, the officers and directors of a benefit corporation must consider non-financial stakeholders (such as employees and customers) in their decision-making. The benefit corporation also differs from a non-profit, first in the respect that it is a for-profit company. In addition, a non-profit has certain tax advantages due to its legal status, while a benefit corporation is treated like a traditional corporation for tax purposes. The benefit corporation does share with a non-profit the general purpose of creating a public good or offering a service to others, and some entrepreneurs and investors might view the benefit corporation as a good way to blend their interests in creating general public benefit in a way that also maximizes profits.
If you would like additional information regarding the benefit corporation, you are encouraged to consult an attorney. Click here for the Corporate and Business attorneys at Barrett McNagny.
[i] Ind. Code §§ 23-1.3-4-1 and 23-1.3-2-7.
[ii] Ind. Code §§ 23-1.3-4-2 and 23-1.3-2-10.
[iii] Ind. Code § 23-1.3-2-10.
[iv] Ind. Code § 23-1.3-4-4.
[v] Ind. Code § 23-1.3-3-1.
[vi] Ind. Code §§ 23-1.3-3-1 and -2.
[vii] Ind. Code § 23-1.3-3-4.
[viii] Ind. Code § 23-1.3-5-1.
[ix] See id. and Ind. Code § 23-1.3-7-1.
[xi] Ind. Code § 23-1.3-6-1.
[xii] Ind. Code § 23-1.3-6-2 and -3.
[xv] Ind. Code § 23-1.3-9-1.
[xvi] Ind. Code § 23-1.3-9-3.
[xvii] Ind. Code § 23-1.3-9-2.
[xviii] Ind. Code § 23-1.3-10-1.
[xxi] Ind. Code § 23-1.3-10-1.
[xxii] Ind. Code §§ 23-1.3-10-5 and -6.

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