Question

Benefit corporations differ from traditional corporations in three main ways. The main purpose is to benefit the ___ , so directors must consider the impact of their decisions on society and the ___ . Shareholders have an additional right of private action, called a ___ , that allows them to sue the corporation for failure to pursue the purpose. Finally, benefit corporations must issue an annual ___on its performance and include a third-party standard of assessment.

Answer 1

The correct answers are, Public, Environment, Derivative Suit, Benefit Report.

Explanation:

Any corporation which is established to benefit people, society and the environment, is called as the Benefit corporation.

The main purpose is to benefit the Public, so the directors must consider the impacts of their decisions on society and the Environment. Shareholders have an additional right to private action called a Derivative Suit, that allow them to sue the corporation for failure to pursue the purpose. Finally, benefit corporations must issue an annual Benefit Report on its performance and include a third party standard of assessment.

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