The “Benefit Corporation”: A Viable Option for Social Entrepreneurs?
Introduction
Choosing the correct corporate form for his or her social venture is a critical decision every social entrepreneur must make. Social entrepreneurs have had the option of pursuing several different potential legal forms: sole proprietorship, not-for-profit corporation, partnership, traditional for-profit corporation, and limited liability corporation. These are just some of the many different legal structures from which a social entrepreneur can choose when deciding on what type of organization to create. Until recently, these different corporate forms fell into two basic categories: for-profit or not-for-profit. Under ...
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