The textbook discusses and defines many different types of corporations. Since about 2010, a new type of corporation has developed called a Benefit Corporation. In the United States, a Benefit Corporation is a type of a for-profit corporation currently authorized in a number of states in the United States including Pennsylvania and the District of Columbia that has as one of its purposes activities and operations that have a positive impact on society and the environment in addition to making a profit for its owners. These Benefit Corporations differ from traditional C corporations in purpose, accountability, and transparency, but not in taxation.

Discuss whether you feel that corporations that operate solely on the Internet without any bricks and mortar offices for consumers to visit them should be classified and named differently as, by way of example, Benefit Corporations are. Discuss as part of the reasons for your answer legal implications of corporations operating solely on the Internet and without a bricks and mortar location. Discuss also what name you would assign to such corporations.

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