This Article analyzes the advent of benefit corporations in Florida, and it argues that benefit corporations provide a sound business model for social enterprises. The Author begins by providing an overview about the history of the corporate social enterprise movement leading up to the passing of the benefit corporation statutes. The Author then focuses on Florida’s benefit corporation statutes’ key features and provides examples of benefit corporations in Florida. Lastly, the Author addresses some concerns regarding benefit corporations, the potential issue of the use of benefit corporations as a form of greenwashing, and provides some recommendations to the benefit corporation statutes.
The Author advocates that because benefit corporation statutes provide more flexibility for social entrepreneurs and investors to engage in social and environmental causes, which are positive developments in corporate law, and therefore positively impacts society and economy by creating innovation, increased revenue and investments, and flexibility for social entrepreneurs to seek solutions to social and environmental issues.