Externally, it's mainly marketing: the stated mission of a nonprofit with the equity and operating ability of a C-Corp (and the taxation that goes along with th

Externally, it's mainly marketing: the stated mission of a nonprofit with the equity and operating ability of a C-Corp (and the taxation that goes along with the latter). Internally, being a PBC adds "protection" of the mission in two ways: 1. Directors are protected from shareholders (e.g., VCs). Since shareholders are not primary to stakeholders in a PBC, directors can make business decisions that may not be in the "best interests" of shareholders and be protected from lawsuits. 2. Shareholders are protected from directors doing the same. Shareholders are able to demand external auditing of the mission and bring lawsuits alleging breach of the mission. There are a ton of details depending on the state of incorporation.