What does being a Benefit Corporation mean?
A Benefit Corporation is a new type of corporation that uses the power of business to solve social and environmental problems. We are committed to holding ourselves to higher standards. As a Benefit Corporation, Step Research makes decisions that are good for society and for our stakeholders, not just our shareholders. For an ordinary corporation, the need to create value and profit for shareholders legally overrides all other moral or ethical concerns or concerns for the customers. Benefit corporations give stakeholders as much legal power as shareholders.
We define our stakeholders as our customers, employees, clients, and anyone using our services. This means that when we decide what to do with our customers’ and clients’ data, we consider what would our stakeholders want us to do with their data, not just benefit our shareholders. A business need for profit will never override our morals and values as it might in an ordinary corporation which has a legal obligation to profit for its shareholders.
For more information about Benefit Corporations and B Corporation Certifications, we recommend you go to BenefitCorp.net for a good overview and more detail. Additionally, see Wikipedia.