benefit corporations

Noah Coffey / https://www.flickr.com/photos/noahwesley/

Indiana will begin registering businesses as “benefit corporations,” which gives companies the flexibility to be socially conscious while still making money. The new designation is meant to bridge the gap between for-profit and non-profit companies.

Secretary of State Connie Lawson says the benefit corporation designation protects companies against shareholder lawsuits when profits aren’t maximized at the expense of a social mission.  She notes it’s a popular concept with millennials, a group she says will make up 75 percent of the workforce in the next decade.