Social Purpose Corporation

A Social Purpose Corporation (SPC) is a type of business formed to pursue both profit and social or environmental goals. Unlike traditional corporations focused solely on shareholder returns, SPCs are legally committed to making a positive impact on society or the environment, alongside financial success. This structure allows companies to prioritize social purpose without losing legal protection or legitimacy. SPCs are often transparent about their mission and can measure their social or environmental performance, integrating purpose into their core operations while still generating profit for shareholders.