How to Become a Maryland Benefit Corporation: New Guide for Social Entrepreneurs in Maryland
This resource provides expert analysis on key provisions of the new Benefit Corporation law, including type of public benefit recognized; obligations of and protections for leadership; and reporting requirements.
"Benefit Corporations are a unique designation under Maryland's new law," says Jon Widrick, co-founder of Ascensus Law Group. "This designation will now allow social ventures formed for social and environmental benefit to receive official recognition for their commitment to a triple bottom line of 'people, planet, and profit'"
The advisory also includes a practical overview of how small businesses and nonprofits can become elect to become Benefit Corporations.
"Maryland's new law is the first of its kind in the United States," according to Amy Kincaid, founder of ChangeMatters. "The enthusiasm among small businesses, nonprofits, and entrepreneurs represents the promise of sustainable social enterprise in Maryland, and demonstrates the value of this emerging sector to meet community needs around the country."
"Becoming a Benefit Corporation" is currently available online for purchase as a PDF download:
About Jon Widrick / Ascensus Law Group
Jon Widrick is a founding partner in Ascensus Law Group. He represents green, sustainable, and social enterprises throughout the Washington DC region in all aspects of business law. Jon has served as primary corporate counsel to companies ranging from information technology to utilities. His legal experience also extends to tax-exempt organizations, including international nonprofits and local charities.
About Amy Kincaid, ChangeMatters
Amy Kincaid is founder and principal of ChangeMatters, a consultancy for social purpose ventures and cultural entrepreneurs concerned with the greater creative economy and wellness of their communities. As a director, consultant, and trainer, she has guided nonprofit and for-profit organizations in the US and abroad through startup, turnaround, and major growth activities. With a particular record of service to overlooked market segments and underserved populations.
ChangeMatters provides strategic business consulting for social purpose ventures and cultural entrepreneurs concerned with the greater creative economy and wellness of their communities.
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