Social Enterprises – 6929
“Social enterprise” is a relatively new concept to describe organizations that sit somewhere between the extremes on a continuum between non-profit organizations and for-profit business corporations. The founders of and investors in social enterprises seek both to earn financial returns and also to advance particular social purposes. Many have argued that traditional legal forms of association, especially the business corporation and the non-profit corporation, do not provide good fits for the purpose of this emerging form. A variety of new legal forms are being developed, including the low-profit limited liability company (L3C), the benefit corporation, and the social purpose corporation. This course explores the challenges facing social enterprises, and how both traditional and new forms of legal associations respond to those challenges.