Advantages of Community Interest Company (CIC)

CIC (Community Interest Company) is a type of company whose main motive is to serve society rather than make a profit. It's like a charity or NGO. Now here all the assets and financial properties are locked so that they should only be used for serving society whenever it is needed.

It helps the directors and shareholders of the company to be responsible for running the organisation in a charitable way. 

It also helps some people to donate any amount of funds to this type of company because anytime society faces a problem, this type of organisation will be the first to help financially.

As the major purpose of this type of company is to serve society, it can be operated as a public limited company, and the company's shares will be used to serve society whenever needed.

However, before serving society, it must have its legal status and have the power to exist. If it is dissolved earlier, some assets should be kept locked, but only after all creditors' debts have been paid.