We also hear a lot of confusion about the difference between a “B Corp” and a “benefit corporation.”. The B Impact Assessment is available for free for those that do not wish to have a verified or certified report. Compare. People want to work for, buy from, and invest in businesses they believe in. B Corp Certification is the most powerful way to build credibility, trust, and value for your business. We spoke to Kate Sandle, Community Manager for B Corp UK, whose favourite interpretation of B Corp comes from Ghandi – “Be the change you wish to see in the world”. Keep reading to learn how B Corps are making a difference while remaking the typical business mold. Check out the list below of B Corps within the fashion world for your upcoming hike, holiday party or anything in between. Compare your answers to thousands of other businesses and see how you stack up. That has created relationships and collaboration among B Corps. Certified B Corporations pay an annual certification fee, which licenses them to use intellectual property like the Certified B Corp logo. B Corp is a certification. Many clients ask us about becoming a B Corp and whether it’s right for them. An example that was raised during the session was how Unilever, with wholly owned B Corp subsidiaries, like Ben & Jerry’s, under its portfolio, can leverage on them to set the standards as one of the leaders in their field driving sustainability and contributing to the B Corp movement. What is a Certified B Corporation? or Certified Benefit Corps., are for-profit companies that have met a high standard of overall social and environmental performance according to the nonprofit B Lab. B Lab is a non-profit corporation that certifies B Corporations—it offers a variety of support, varying from access to the Certified B Corp logo to introducing new Certified B companies to a large, lively community of other Certified B Corporations. By HBS Tuesday, March 19, 2019 What Is B Lab? It was originally derived from “benefit corporation”, a type of US corporate structure, but B Corp means many things to many people. This fee starts as low as £500 for certified B Corps and scales with revenue. What is a B Corp? Introduction to Corporation Examples. Corporation example includes General Motors Corporation or GMC an icon of American craftsmanship, Apple Corporation as one of the famous tech companies, Amazon Corporation founded by Jeff Bezos is the world’s leading eCommerce and innovation company, Domino’s Pizza is a global food chain company delivering quality food worldwide. B Corps are certified by the nonprofit B Lab to meet rigorous standards of social and environmental performance, accountability, and transparency. Conversely, the B Corp is a certification, conferred upon a company that meets certain social and environmental sustainability standards. Better World Books, which is one of the founding B Corporations, is an excellent example of what the B Corp movement is all about. Unlike the traditional corporation that gives priority only to financial profitability, B Corps actually look at the triple bottom line and use the power of business to address social and environmental problems. STEP 2. Benefit Corporation is a legal form. The law defining benefit corporations was passed in 2010, and ever since, this corporate form has become quite widespread, including businesses from fields such as IT, education, retail and food. The examples below share how companies are shifting their everyday operations — to consider people and planet as well as profit — while changing the world through their choices. Examples of B Corps. There is a fellowship of B Corporations that shares resources. B Corp certification is a tougher but more rewarding process. Certified B Corporations. In this article, we will discuss Corporation Examples. There are numerous member resources that are available to a B Corp once they are allowed to form. The online book retailer was founded in … B Lab, the certifying body, helps to foster the community by holding events that bring B Corps together. The B Corp Certification is a third-party certification administered by the non-profit B Lab, based in part on a company's verified performance on the B Impact Assessment. The B in B Corp is open to interpretation. B Corps can only be for-profit organizations, and they must meet B Labs’ standards for social and environmental performance, accountability and transparency. A corporation is typically a combination of people or a company that has derived its license from the state to operate as a single entity and legally can be recognized as such for a few specific purposes. If you have been operating for less than a year, you can become a Pending B Corp which is £250. Certified B Corporations are a new kind of business that balance purpose and profit. Some B Corps may also be allowed to charge annual fees, collect fundraising, and other non-profit activities that are inviting to investors. The benefit corporation is a legal structure for a business, like an LLC or a corporation. A B Corp, on the other hand, is an organization that has successfully completed the certification put forth by the nonprofit B Labs. Benefit corporations and Certified B Corporations are often confused.The B Corp Certification is a third-party certification administered by the non-profit B Lab, based in part on a company's verified performance on the B Impact Assessment. You can find a full list of Certified B Corps at http://bcorporation.net . Becoming a B Corp. As long as it is certified by B Lab and the applicable fees are paid, any company that sets about to make a profit can become a B Corp. As an example, Hanson Bridgett, LLP, a law firm, is a founding B Corp while being a limited liability partnership, rather than a corporation. Check out examples … They make decisions that make a positive impact across their workers, customers, suppliers, community, and the environment. B Lab believes that the B Impact Assessment is the best available standard for benefit corporations. Certified B Corporations are social enterprises verified by B Lab, a nonprofit organization. These fashion brands are B Corps: for-profit businesses that meet rigorous, third-party-verified social and environmental standards to balance profit and purpose. European B Corps are the best! Top 9 Examples of Most Common Corporations. A corporation that wishes to express further commitment to positive social and environmental changes can apply to become a Certified B Corporation (or B Corp). B Corporations, commonly known as B Corps, are a new type of corporation. Today, there is a growing community of more than 1,000 Certified B Corps from 33 countries and over 60 industries working together toward 1 unifying goal: to redefine success in business. Guardian Media Group, the Guardian's parent company, recently announced that it … Auditing for B Corp businesses. The B Corporation movement has come a long way since the founding of B Lab (the nonprofit behind the B Corps) in 2007. Nearly 2,000 companies (including TriplePundit) are now B Corp certified. If you go on to get certified as a B Corp, there is a chance your small business will get audited by B Corp, which says it checks up on about 10% of its certified companies each year. A C corporation may change to a B corporation merely by stating in its approved corporate bylaws that it is a benefit corporation; however in certain jurisdictions (especially Delaware), the terms "public benefit corporation" or "PBC" are also required to be in the legal name of B corporations. A benefit corporation has social and environmental goals, advocates for corporate accountability and protects the financial interests of shareholders. Learn more > B Impact Report A more holistic look at how your company scores across multiple questions related to the same impact topic B Corp certification is the latest status clothing for conscious companies. B Impact Score distribution of participating companies B Lab is a non-profit organization dedicated to using the power of business as a force for good. You have to agree to a possible on-site review/audit of your … Well-known companies such as Ben & Jerry’s, Dansko, Etsy, Method, New Belgium Brewery, Patagonia, Plum Organics, and Seventh Generation are just a few of the more than 1,100 Certified B Corporations (distinct from benefit corporations) now established across … More information on choosing a third-party standard can be found here. 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