WILMINGTON, Del. (AP) - Delaware is seeing its first wave of companies who want to balance profits and social consciousness converting to "public benefit corporations."
The News Journal reports that 17 companies took advantage of a new law aimed at these companies on its first day.
Companies like Method, maker of environmentally friendly cleaning sprays, and Plum Organics baby foods, were among the first to sign up when the law went into effect on Thursday.
Delaware was the 20th state to adopt "B corporation" legislation and supporters say it is likely to see more public benefit filings. Observers say the new law appeals to a certain kind of privately held company, and won't quickly be adopted by corporate giants.
