LIBN Article about SEA-LI

NY B Corps look past profit on the bottom line

New York has joined a growing number of states allowing companies to file as benefit corporations, pledging in their incorporation papers to serve the triple bottom line of people, planet and profits.

And firms slowly are forming or shifting to this status, which they hope will let them stand out from competitors and give them greater freedom in making decisions.

The benefit corporation status is meant to give firms legal protection from shareholders who might claim executives operating under motives other than profit are shirking their fiduciary responsibility.

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