Benefit Corporation
Benefit Companies (SB) represent an evolution of the very concept of a company. While traditional companies exist with the main purpose of distributing dividends to shareholders, benefit companies are the expression of a more advanced paradigm: they integrate the purpose of having a positive impact on the community and / or on the biosphere. A Benefit Company is a new legal instrument that creates a solid basis for long-term mission alignment and the creation of shared value. It is not a question of Social Enterprises or an evolution of the non-profit sector, but of a positive transformation of traditional business models for profit, to make them more suitable for the challenges and opportunities of 21st century markets. Since January 2016, Italy has introduced with the 2016 Stability Law, first in Europe and first in the world outside the USA (where the legal form of Benefit Corporation, equivalent to the Italian Benefit Company, was introduced since 2010 and now exists in 31 States), the Benefit Company to allow entrepreneurs, managers, shareholders and investors to protect the company's mission and stand out on the market with respect to all other corporate forms through a virtuous and innovative legal form.
Benefit companies voluntarily pursue one or more common benefit purposes in the pursuit of their business, in addition to their profit. By common benefit we mean the pursuit of one or more positive effects (also achievable by reducing negative effects) on people, communities, territories and the environment, cultural and social goods and activities, entities and associations and other stakeholders. Benefit companies pursue these common benefit purposes in a responsible, sustainable and transparent way. The management of benefit companies requires managers to balance the interest of the members and the interest of the community. Benefit companies must appoint one or more management people who are / are responsible for the impact of the company and formally undertake to report their activities in a transparent and complete manner through an annual impact report, which describes both the actions breakthroughs that plans and commitments for the future.
At the present time, the Benefit Companies do not enjoy economic or fiscal incentives, so in addition to representing a value for the company, they do not cause burdens for taxpayers.