Maryland Benefit Corporation Act

The Maryland Benefit Corporation Act allows companies to prioritize social and environmental goals alongside profit. It provides a legal framework for "benefit corporations" to aim for positive impact on society and the environment, balancing these objectives with financial performance. These companies must meet specific transparency and accountability standards, reporting on their societal and environmental efforts annually. This law supports businesses committed to making a difference while remaining profitable, offering legal protection for their broader mission beyond just shareholder returns.