{"id":532,"date":"2015-07-08T17:10:50","date_gmt":"2015-07-08T21:10:50","guid":{"rendered":"http:\/\/www.michaelsmithlaw.com\/blog\/?p=532"},"modified":"2023-11-28T13:37:36","modified_gmt":"2023-11-28T18:37:36","slug":"benefit-corporations-and-small-businesses-part-iii","status":"publish","type":"post","link":"https:\/\/www.hpindiana.law\/business-blog\/benefit-corporations-and-small-businesses-part-iii\/","title":{"rendered":"Benefit Corporations and Small Businesses:  Part III"},"content":{"rendered":"<p><a href=\"https:\/\/www.hpindiana.law\/business-blog\/benefit-corporations-and-small-businesses-part-i\">Part I<\/a> of this series briefly discussed Indiana\u2019s new benefit corporation statute as well as certification of a company as a B Corp by B Lab and some of the their possible advantages.\u00a0 <a href=\"https:\/\/www.hpindiana.law\/business-blog\/benefit-corporations-and-small-businesses-part-ii\">Part II<\/a> began a closer look at the details of the benefit corporation statute, including the question of whether the benefit corporation is a good\u00a0choice for small businesses.<\/p>\n<p><u>The \u201cBenefit\u201d Part of a Benefit Corporation<\/u><\/p>\n<p>As we\u2019ve mentioned before, a benefit corporation is one with purposes in addition to making money for its shareholders. All benefit corporations share the purpose of creating a general public benefit, defined as having an overall material positive impact on society and the environment.\u00a0 In addition, benefit corporations may also establish for themselves the purpose of creating a specific public benefit that serves one or more public welfare, religious, charitable, scientific, literary, or educational purpose or another purpose that goes beyond the strict interests of the shareholders.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.hpindiana.law\/business-blog\/benefit-corporations-and-small-businesses-part-iii\/\"  title=\"Continue Reading Benefit Corporations and Small Businesses:  Part III\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Part III of this series looks at the transparency and accountability provisions of Indiana&#8217;s new benefit corporation statute.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,12,18],"tags":[],"class_list":["post-532","post","type-post","status-publish","format-standard","hentry","category-corporations","category-limited-liability-companies","category-small-businesses"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Benefit Corporations and Small Businesses: Part III &#8212; Indiana Business Law Blog &#8212; July 8, 2015<\/title>\n<meta name=\"description\" content=\"Part III of this series looks at the transparency and accountability provisions of Indiana&#039;s new benefit corporation statute. &#8212; July 8, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hpindiana.law\/business-blog\/benefit-corporations-and-small-businesses-part-iii\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael R. Smith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Benefit Corporations and Small Businesses: Part III &#8212; Indiana Business Law Blog &#8212; July 8, 2015","description":"Part III of this series looks at the transparency and accountability provisions of Indiana's new benefit corporation statute. &#8212; July 8, 2015","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.hpindiana.law\/business-blog\/benefit-corporations-and-small-businesses-part-iii\/","twitter_misc":{"Written by":"Michael R. 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