Maryland Benefit Corporation Law

Maryland Benefit Corporation Law allows companies to operate with a dual purpose: to generate profit and to produce a positive social or environmental impact. These Benefit Corporations combine traditional business goals with commitments to social responsibility, formalized through legal statutes. This structure ensures that companies consider their impact on stakeholders and the community, even as they pursue financial success. It provides legal protection for executives to prioritize broader benefits without fearing legal repercussions, promoting businesses that are both profitable and purposeful.