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I wonder if they have the Benefit Corporation designation in Sweden?
by wintermutestwin 5y ago
I wonder if they have the Benefit Corporation designation in Sweden?
- JoachimS 5y agoYes, in Sweden you have a number of legal constructs to use. You can organize a company as a cooperation. It is not a specific legal form of business, but a version of a normal limited company. It is used for non-profit businesses, for example a day care. You can also form a business association - which is fairly common for non-profit organizations. Typically house owners that share a road, have a small pier for their boats etc. Finally you can create a foundation. The foundation has no owners or members, but has a board. It is typically used to manage wealth, often for charity purposes (which I think matches the term used in the U.S.). The most famous foundation in Sweden is probably IKEA[0]. (INAL etc. And [0] yes, I know that the IKEA HQ is in Switzerland, with foundation operations in Holland IRRC. But it was founded in Sweden - and we get mixed up with Switzerland all the time anyway so... ;-)