1. “A director is not personally liable for monetary damages for failure of the benefit corporation to create general or specific public benefits.” [B-Labs info sheet]

    I think BCorps and L3Cs are a bunch of whooey as currently composed/articulated: the stick is vague and the IRS doesn’t recognize the carrot. Are investors adding triggers (loss of certification) to their equity? Are state AGs creating oversight procedures? Who has standing to sue these entities over non-benefit?

    I recognize the desire for ownership that a nonprofit doesn’t offer (non-distribution), but I’m at a loss for a scenario in which it’s worth the trouble