B Corps, Benefit Corporations and Socially Oriented Enterprises in Canada

Abstract

Benefit corporations are quite new in Canada, having been brought into force only on 30 June 2020 in the province of British Columbia. B Corps, however, are present and gaining ground across most provinces and territories. Benefit corporations under the new legislation are deemed to meet certification as B Corps. Other similar stakeholder interest companies are considered, such as community interest/contribution companies, social enterprises and co-operatives. Reference is made as well to Supreme Court of Canada jurisprudence, which already lays the ground for a broader consideration of stakeholder interests and benefits under corporate law in Canada. Finally, diverse opinions on introducing benefit corporation legislation are presented.