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Qu’est-ce qu’un «B» Corporation ?

A Benefit Corporation or a “B-Corp.” is a private enterprise that creates a public benefit by allowing businesses to be profitable while considering the welfare of society and the environment.   Benefit Corporations require businesses to make their practices transparent to the public.  Becoming a Benefit Corporation has certain requirements, but it is mostly a three-step process.  First, a company must complete a “B Survey” and receive a composite score above 80 points (out of 200) to be certified as a Benefit Corporation. Then, a company’s governing documents must be revised to include the interests of all stakeholders and shareholders.  Finally, a company must sign a document describing the benefits and duties of becoming a Benefit Corporation, along with a “Declaration of Interdependence” symbolizing the company’s commitment to the Benefit Corporation.

Florida is now one of twenty-six states that allow “B-Corporations.”  In Florida, if you are creating a new corporation and want to become a B-Corp., the articles of incorporation must state that the corporation is a benefit corporation under Florida Statute 607.603.  However, if you are already established as a corporation, but want to change into a Benefit Corporation, the articles of incorporation must be amended to include a statement that the corporation is a benefit corporation under Florida Statute 607.604, but the amendment must be adopted by the minimum status vote.  A Benefit Corporation’s Annual Report must be made public and available, free of charge, to anyone that requests it.

If you are interested in establishing a Benefit Corporation, or you want to change an existing corporation to a Benefit Corporation, schedule a consultation with the experienced attorneys at EPGDLaw today, located in beautiful Coral Gables. Call us at (786) 837-6787 or e-mail us to schedule a consultation.

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EPGD Business Law is located in beautiful Coral Gables, West Palm Beach and historic Washington D.C. Call us at (786) 837-6787, or contact us through the website to schedule a consultation.

*Disclaimer: this blog post is not intended to be legal advice. We highly recommend speaking to an attorney if you have any legal concerns. Contacting us through our website does not establish an attorney-client relationship.*

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