Benefit Corporation. A not for profit corporation set up under specific state legislation to provide some stated societal benefit, and with some corresponding relaxation of the obligation to maximize shareholder return
This is a US-specific type of non-profit corporation defined in recent legislation in a number of states. In California, for example, benefit corporations may be defined as public benefit or mutual benefit corporations, depending on their purpose.
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.