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The Demise of free enterprise? Merle
A Benefit Corp., or B Corp. has corporate social
responsibility, or CSR. This means that they
are involved in the three E's, Environment, Equity (social
justice) and Economy.
This is PPP, the Public
Private Partnership.
The concept of the B Corp was promoted by the Rockefeller Bros
Foundation.
The B Corporations are receiving benefits in San Francisco and
Philadelphia.
Benefits can include; tax breaks, and, to the head of the line
for licenses, permits, and contracts.
Tom DeWeese calls it, “the demise of free
enterprise.”
The Governor of Maryland signed it into law on July17, 2013.
The advocates say,”this is the tipping point in the evolution of
capitalism,”
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Benefit Corporation law in
Illinois was effective 1/1/13 Section 1. Short title. This Act may be
cited as the |
Benefit Corporation
Act. |
"Specific public benefit"
means: |
(1) providing low-income or underserved
individuals or |
communities with
beneficial products or services; |
(2) promoting economic opportunity for
individuals or |
communities beyond the
creation of jobs in the ordinary |
course of business;
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(3) preserving the environment;
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(4) improving human health;
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(5) promoting the arts, sciences or
advancement of |
knowledge;
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(6) increasing the flow of capital to
entities with a |
public benefit purpose;
or |
(7) the accomplishment of any other
particular benefit |
for society or the
environment. |
Terry (Read more below)
Article 3.
Corporate Purposes |
Section 3.01. Corporate
purposes. |
(a) A benefit corporation shall have a
purpose of creating |
general public benefit. This
purpose is in addition to its |
purposes under Section 3.05
of the Business Corporation Act |
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Terry
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