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Law, Policy, and Social Innovation

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Neetal Parekh

on 5 December 2013

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Transcript of Law, Policy, and Social Innovation

Law, Policy and Social Innovation
legal structures
for social enterprise
social entrepreneurs
Bright Funds (tandem) http://i8s.us/XWIzQM
Back to the Roots (for-profit) http://i8s.us/11BM020
Rimon Law Group (benefit corp and B corp) http://i8s.us/17OiQOI
Prometheus Civic Technologies (flex-corp) http://i8s.us/HKHp5D
What do you
Neetal Parekh | @innov8social http://www.innov8social.com
Benefit Corporation
Benefit Corporations are a new class of corporation that
1) creates a
material positive impact
on society and the environment;
expands fiduciary duty
to require consideration of non-financial interests when making decisions; and
3) reports on its overall social and environmental performance using recognized
third party standards

flexible purpose corporation (CA)
Must list
special purpose
and complete corporate formalities.
required to file "special purposes, in addition to any other lawful purpose, that the corporation shall engage in, which may include, but are not limited to, charitable and public purpose activities that could be carried out by a nonprofit public benefit corporation."
low-profit limited liability company (L3C)

A low-profit, limited liability company (L3C) is a type of limited liability company (LLC) that defines a specific socially beneficial mission, like a non-profit does. But unlike a non-profit, it allows profits to be distributed to owners.

One of the key reasons for the creation of the L3C was to simplify investment to social businesses by foundations. To invest in a for-profit enterprise, private foundations must invest in IRS sanctioned program-related investments (
mix n' match
C corp / S corp
Business Judgment Rule
Constituency Statute
For-profit + non-profit
Crowdfunding legislation
Journey to social innovation
international, service, leadership
law + tech + social media
social innovation

For Love or Lucre
The Truth About Ben & Jerry's
Practicing Law in the Sharing Economy (Janelle Orsi, http://theselc.org)
SCU Global Social Benefit Institute http://i8s.us/1aBzEd8
SCU Frugal Innovation Lab http://i8s.us/1aBzEd8
40+ Blogs on Social Innovation http://i8s.us/1aBzEd8
70+ Social innovation fellowship programs http://bit.ly/sB7tKL

B Corporation and Benefit Corporation: 3 Key Differences http://i8s.us/1fle4e2
2 Social Enterprise Bills in California: Key Features of AB 361 and SB 201: http://bit.ly/rmCdpF
What is an L3C? http://bit.ly/uR91Fa
Full transcript