Front matter · Methodology
About the Index
The PBC Index is an open index of companies whose governance is built to keep them accountable to a mission, not just to short-term shareholders. This project was inspired by Eric Ries's book Incorruptible. To learn more about mission-locked companies, you can watch his interview on Lenny's Podcast.
§ I · Scope
What qualifies for inclusion
A company belongs in the index if its governance protects its mission through at least one of these structures:
- Statutory benefit corporationBenefit corp
- Incorporated under a US statute that legally binds the company to a public or social benefit: a Delaware-style Public Benefit Corporation, a model Benefit Corporation, or a Washington/California Social Purpose Corporation. The exact form appears under Statutory form.
- Certified B CorporationB Corp
- Certified by the nonprofit B Lab against verified social and environmental standards. A certification, distinct from a legal entity type.
- Steward-ownedSteward-owned
- Ownership structured so control cannot be sold for short-term gain; profits serve the mission and the company governs itself.
- Perpetual Purpose TrustPPT
- Owned by a trust established for the benefit of a purpose rather than a person, holding the company in mission indefinitely.
- Golden ShareGolden share
- A special share held by an independent steward with veto rights over mission-critical decisions such as a sale.
- Other mission-lockOther
- A non-statutory mission lock: another credible governance structure that protects mission (statutory benefit corporations belong under Benefit corp). See notes.
Scope · U.S. companies, public & private
§ II · Definitions
Benefit corp vs. B Corp: not the same thing
A statutory benefit corporation is a legal corporate status: a company incorporated under a state statute that binds it to a public or social benefit. The family includes Public Benefit Corporations(Delaware's DGCL Subchapter XV and other states), Benefit Corporations (the model legislation most states adopted), and Social Purpose Corporations (Washington and California). A Certified B Corp is a different thing: a voluntary certificationfrom the nonprofit B Lab that verifies social and environmental performance and requires specific mission language in a company's governing documents. They overlap but are distinct: many B Corps are LLCs, and many benefit corporations never seek certification. A company can be one, both, or neither, and it can be listed in this index for any qualifying structure, with or without B Corp certification. This index groups the statutory forms under a single “Benefit corp” tag and names the exact form on each entry.
§ III · Provenance
How entries are sourced
Every entry carries its provenance: at least one credible source · an SEC filing, charter, press release, the B Lab directory, or reputable news. The search that finds and verifies these sources is powered by Exa. Strong, well-sourced cases are added automatically; weaker ones go for a quick human review before they join the index.
See exactly what happens when you search ↗
Found an error, a missing mission statement, no logo, or a source worth adding? Every company page has a suggest a correctionlink. Anyone, including a company's own team, can supply the right mission statement, upload a logo, or add a source link. Suggestions are reviewed by a person before they go live, so nothing changes the index automatically.
Add a company
Add it to the index
Type any company name and our research desk looks it up against live web sources and decides whether it belongs. Strong, well-sourced cases are added at once; the rest go for a quick human review. Either way you get a clear account of the company's governance.
Look up a company ↗Dataset licensed CC BY 4.0 · Informational only · not legal advice. Confirm current legal status from primary sources before relying on any entry.
