Proceedings of the International Association for Business and Society

Volume 31, 2020

Proceedings of the Thirty-First Annual Meeting

Caddie Putnam Rankin
Pages 77-88

The Benefits of Benefit Forms
Legal, Peer, and Stakeholder Benefits

This article explores adoption rates of B Corps certification and Benefit Corporation incorporation in order to discuss what benefits exist for organizations to adopt sustainable business forms. The analysis of the data identifies states with low and high adoption rates. The study is based on historical analysis of 4686 incorporated Benefit Corporations from 2007 to 2016 and 837 certified B Corps during the same time period. Patterns of adoption are identified and states with high and low adoption rates are categorized, analyzed, and discussed. The patterns reveal which states are most likely to support lasting or short lived legal, peer, and stakeholder benefits for sustainable business.