L3C

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Star Wars – Three Keys to the Alliance Victory Over the Galactic Empire

In response to the great article on forbes.com detailing the 5 mistakes of the Empire in Star Wars, I present the top 3 reasons that the rebels were able to take advantage of these mistakes, and achieve victory over the Emperor. Because this Blog spends a good deal of time looking at Social Entrepreneurship and …

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Before Raising Money – Identify Your Liabilities

As more social enterprises seek to obtain investment capital to help grow their business, it is important for Officers, Directors, and Founders to identify potential liabilities, and deal with them, before seeking financing. Many early stage companies have known outstanding liabilities facing them that must be addressed prior to raising investor capital.  Whether it’s a …

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What is a “Low-Profit Limited Liability Company” (L3C)?

The L3C (Low-profit Limited Liability Company) is a for-profit business entity that, as required under its organizing documents and state law, must have a primary goal of performing a socially beneficial purpose instead of simply maximizing profit.  In addition, an L3C must avoid engaging in certain lobbying and political activities. Otherwise, an L3C is organized …

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Dispute Resolution Planning for Social or Hybrid Entities

With the uncertainty surrounding new corporate entities such as the Benefit Corporation, Flexible Purpose Corporation, and Low Profit Limited Liability Company, it is important for these businesses to contractually control the dispute resolution process. Legislation acknowledging  new forms of business entities called “Benefit Corporations” (enacted in six states California, Maryland, Virginia, Vermont, Hawaii and New …

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