TLDR:
A B Corporation (Benefit Corporation) is a company certified by B Lab that meets high standards of verified social and environmental performance, accountability, and transparency, balancing profit with purpose.
B Corp vs. Benefit Corporation:
B Corp is a certification by a private organization (B Lab). Benefit Corporation is a legal entity structure available in some US states.
B Corp Certification Process
To become a certified B Corporation, a company must complete the B Impact Assessment — a rigorous evaluation scoring performance across five categories: governance, workers, community, environment, and customers. A minimum score of 80 out of 200 points is required for certification. The assessment takes several months to complete, involves third-party verification of claims, and requires re-certification every three years.