Maryland First State to Recognize Socially Responsible “Benefit Corporation”
The benefit corporation concept has some similarities to the L3C model but is geared toward corporations rather than LLCs. Like the L3C, benefit corporations pursue a mission that goes beyond making a...
View ArticleSocial Enterprise in Action
The Marc Center is a thriving, creative and innovative nonprofit that is thinking strategically about how to achieve its mission through both nonprofit and for-profit ventures that provide vocational...
View ArticleWhat is a Flexible Purpose Corporation? by Keren Raz
California may soon offer a new corporate form for social enterprises. The California legislature is considering a bill, S.B. 1463, that would create a new corporate form called the Flexible Purpose...
View ArticleCarter Law Group – A Certified B Corp.
Carter Law Group is pleased to announce that B Labs has certified us as a B Corporation, Arizona’s first!
View ArticleL3C – An Update by Keren Raz
Since Charity Lawyer’s last blog post on the Low-Profit Limited Liability Company, there has continued to be significant legislative activity across the country in support of the L3C though no...
View ArticleB Corps is Not a New Legal Form by Keren G. Raz
Critically, a Certified B Corporation (hereinafter referred to as B Corps or a B Corporation) is a label given by B Lab to businesses that pass a socially responsible certification process. B Corps is...
View ArticleCalifornia Passes Legislation Creating New Structures for Social Enterprise
Increasingly, social entrepreneurs struggle to choose a legal form for their ventures. The traditional legal forms are not suited to blended social and profit-making purposes. Mangers of a for-profit...
View ArticleHere Comes the Arizona Benefit Corporation
Going into effect January 1, 2015, the Arizona benefit corporation statute will enable entrepreneurs to form a corporation unlike anything Arizona has seen before. Benefit corporations enable social...
View ArticleThe Arizona Entity Restructuring Act
Prior to passage of AREA, an entity seeking to change its structure likely had to undergo a multi-step transaction to accomplish its goal. AREA permits direct conversions and makes clear that it...
View ArticleL3C – What’s All the Excitement About?
The L3C, or Low Profit Limited Liability Company, is a new legal entity that can be legally formed in six jurisdictions. The concept started in Vermont and is quickly catching on in other states across...
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