BCORP Licensing Criteria 4

Question 1

What ongoing public disclosure obligation do certified B Corps have regarding their B Impact Assessment?

Accepted Answer

They must publicly disclose their BIA score on the B Lab website

Answer

Certified B Corps are required to make their BIA score publicly available on B Lab's website, supporting transparency as a core principle of the certification.

Question 2

What must a B Corp do if it undergoes a significant corporate event such as a merger or acquisition?

Accepted Answer

Notify B Lab, as such changes may affect certification status

Answer

B Corps must notify B Lab of material corporate changes like mergers or acquisitions because these events can affect whether the company still meets licensing criteria.

Question 3

How are B Corp certification fees typically structured?

Accepted Answer

Based on the company's annual revenue

Answer

B Lab scales certification fees based on annual revenue so that smaller companies pay proportionally less, making certification accessible across company sizes.

Question 4

What is the potential consequence for a B Corp found to be misusing the B Corp trademark?

Accepted Answer

Potential loss of certification and legal action for trademark infringement

Answer

Unauthorized or misleading use of the B Corp trademark can result in certification revocation and legal action, as the mark is a registered trademark owned by B Lab.

Question 5

Under B Corp licensing criteria, what must companies maintain in their governing documents throughout the certification period?

Accepted Answer

Provisions requiring the company to consider the interests of all stakeholders

Answer

The legal accountability requirement means companies must keep stakeholder-consideration provisions in their articles, bylaws, or operating agreements for the duration of their certification.

(BCORP) Certified B Corp Practice Test

(BCORP) Certified B Corp Practice Test

BCORP Licensing Criteria 4