B-Corporations are structured around factors beyond profitability and popularity. In this completely voluntary model, companies organize and run their businesses with a number of considerations including social, economic, and environmental impact (About B-Corps, 2021). Essentially, B-Corps are turning the traditional, capitalistic business model on its head by holding themselves to higher standards. The ideology can be summed up with a simple statement: a corporation can only prosper if all parties involved can similarly prosper. In other words, no one company or business can reap the benefits while exploiting people and/or the environment. Think of a B-Corp as having a basic, moral foundation for business beyond what is required by the federal government.
Co-ops are structured in a way that bring together people who have the same needs. They are owned by customers or board members and work on a basis of a democracy— that is one voice, one member, one vote. Within a Co-op, there is an equitable contribution and control of capital. They do not accept investments from outside entities. In a Co-op, investors are considered those who use it. An individual (person or business entity) can become a member of a Co-op by satisfying membership requirements. Typically, this requirement includes an upfront investment (Cooperatives Overview, 2020).
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