| Hello Friends, We are pleased to report that yesterday, Maryland Governor Martin O'Malley signed the nation's first Benefit Corporation law designating a new kind of company that creates social benefit and shareholder value. This was a historic day that recognized the growing movement of entrepreneurs, investors, consumers, employees, and communities that are harnessing the power of business to solve social and environmental problems. The legislation could not have passed without the concrete example and the leadership of nearly 300 Certified B Corporations that are speaking with collective voice about doing business in a different way.  As you all know, B Lab has made the creation of a new corporate form that requires both social benefit and shareholder value a top priority. With the creation of Benefit Corporations, we can then focus on creating incentives and benefits for companies that become Benefit Corporations. We'd like to thank all of the entrepreneurs and the broader community of B Corporation supporters for their leadership in building a new sector of the economy and for your help in winning this early victory. As we joined Governor O'Malley yesterday for the signing, we felt incredibly honored to be serving this community. We are working on similar legislation in Vermont that may become law in the next 30-60 days, and there is significant interest in creating Benefit Corporations in several other states, including New York, Pennsylvania, North Carolina, Colorado, Washington, and Oregon. Below is the press release that we sent out last night. All the Best,
Bart, Jay, Andrew, and the B Lab Team.
Maryland First State in the Union to create Benefit Corporation Legislation
 April 13, 2010 - Annapolis, MD: Maryland Governor Martin O'Malley signed into law the nation's first legislation creating Benefit Corporations, a new class of corporations required to create benefit for society as well as shareholders. Unlike traditional corporations, Benefit Corporations must by law create a material positive impact on society; consider how decisions affect employees, community and the environment; and publicly report their social and environmental performance using established third-party standards. The legislation, sponsored by Senators Jamie Raskin and Brian Frosh and Delegate Brian Feldman, passed the Maryland Senate with a vote of 44 - 0 and the Assembly 135 - 5. "Milton Friedman would have loved this," said Andrew Kassoy, co-founder of B Lab, the non-profit that drafted the model legislation with William H. Clark, Jr., partner in the Corporate & Securities Practice Group of Drinker Biddle and Reath. "For the first time, we have a market-based solution supporting investors and entrepreneurs who want to make money and make a difference," Kassoy added. The new law addresses a long time concern among entrepreneurs who need to raise growth capital but fear losing control of the social or environmental mission of their business. These entrepreneurs and other shareholders of Benefit Corporations now have additional rights to hold directors accountable for failure to create a material positive impact on society or to consider the impact of decisions on employees, community, and the environment. From a company's point of view, the new law empowers directors of Benefit Corporations to consider employees, community and the environment in addition to shareholder value when they make operating and liquidity decisions. And, it offers them legal protection for those considerations. "Today marks an inflection point in the evolution of capitalism," said B Lab co-founder Jay Coen Gilbert. "With public trust in business at an all-time low, this represents the first systemic response to the underlying problems that created the financial crisis -- protecting companies from the pressures of short-termism while creating benefit for shareholders and society over the long-haul." "This is a great moment in the evolution of commercial life in Maryland and America," said Senator Raskin. "We are giving companies a way to do good and do well at the same time. The benefit corporations will tie public and private purposes together." Maryland is the first state to pass Benefit Corporation legislation, but others are quickly following Maryland's lead. Vermont Bill S.263, co-sponsored by Senators Hinda Miller and Peter Shumlin, has already passed the Senate and will be considered by the Vermont Assembly over the next 30 days. Other states considering the legislation include Colorado, New York, North Carolina, Oregon, Pennsylvania, and Washington. ***
Thanks for your support. Please stay in touch: thelab@bcorporation.net. Follow us: Twitter and Facebook B Lab is a nonprofit organization dedicated to using the power of business to solve social and environmental problems. B Lab drives systemic change through three interrelated initiatives: 1) building a community of Certified B Corporations to make it easier for all of us to tell the difference between "good companies" and just good marketing; 2) accelerating the growth of the impact investing asset class through use of B Lab's GIIRS impact rating system by institutional investors; and 3) promoting supportive public policies, including creation of a new corporate form and tax, procurement, and investment incentives for sustainable business. | 
"When you do the common things in life in an uncommon way, you will command the attention of the world." George Washington CarverWhat is Social Entrepreneurship?Statement of Faith
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