Louisiana became the first southern state to pass benefit corporation legislation as Entrepreneur sits down for a Q&A with Berwyn-based B Lab founder Jay Coen Gilbert.
In states where it has been legalized, entrepreneurs can amend their legal framework to declare they're both a for-profit and for-good company. As a result, a business protects itself from lawsuits by stakeholders that find the company is spending time and/or resources for anything other than solely maximizing profit. Also, in any state, regardless of whether it is legal to become a B Corp yet, a company can apply for certification, a status granted by B Lab.
Original source: Entrepreneur
Read the full story here