KSW lawyers helps company obtain first benefit company designation in canada

KSW Lawyers Helps Client Obtain First Benefit Company Designation in Canada!

We are pleased to announce that we successfully applied for Benefit Company status for Light Trail Consulting Ltd. This was the first application made in BC. Light Trail Consulting Ltd. provides consulting services to for-profit and non-profit organizations and is committed to creating a positive impact on society and the environment in the provision of its services.

On June 30, 2020, the British Columbia Business Corporations Act was amended to permit the designation of new and existing BC companies as “Benefit Companies”. Benefit Companies are for-profit companies that are committed to operating in a responsible and sustainable manner and promoting one or more public benefits.

In order to apply to become a Benefit Company, a company must:

  1. Have a benefit statement in its notice of articles; and
  2. State, in its articles, the company’s public benefits and its commitment to promote those public benefits.

Congratulations Light Trail Consulting on becoming the first company in Canada to be designated as a Benefit Company!

If you have any questions about Benefit Companies, contact Anthony Pranata at alp@old.kswlawyers.ca.

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