In the last five years, the majority of U.S. states enacted benefit corporation legislation, creating a new legal form of business that embraces the -triple-bottom line- of people, planet, and profit. Benefit corporation status provides legal protections for directors and officers, who may now balance social and environmental impact with shareholder returns. It also creates rich opportunities for social entrepreneurs, gives investors more socially responsible options, and offers a helpful designation for consumers. I describe the history and purpose of benefit corporations, evaluate their pros and cons, and argue that safeguards against -greenwashing- make benefit corporations a valuable business form of social enterprise.
