Benefit Corporation California

A dozen companies that try to do business in a socially and environmentally conscious way have filed papers with the state to become California's first "benefit corporations. " Chief executives, led by Yvon Chouinard, the founder of Patagonia, a 56-year-old seller of outdoor apparel and equipment based in Ventura County, marched into the secretary of state's office shortly after it opened Tuesday morning. It was the first business day after a new state law took effect Jan. 1, giving companies an option besides the traditional corporation or nonprofit organization to legally organize themselves.

A dozen companies that try to do business in a socially and environmentally conscious way have filed papers with the state to become California's first "benefit corporations. " Chief executives, led by Yvon Chouinard, the founder of Patagonia, a 56-year-old seller of outdoor apparel and equipment based in Ventura County, marched into the secretary of state's office shortly after it opened Tuesday morning. It was the first business day after a new state law took effect Jan. 1, giving companies an option besides the traditional corporation or nonprofit organization to legally organize themselves.