Social Entrepreneur

Personal Guaranties and Service Contracts – A thorny legal issue

Many founders of small companies and social enterprises will be asked to Guaranty service contracts or engagement agreements with consultants or contractors.  This should raise some key questions before any founder or small business owner puts themselves, and their assets, on the line for these relationships. The concept of the personal guaranty is not a …

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The “Social Purpose Corporation” passes the Washington State House of Representatives

As we’ve previously explained on this blog, several states have adopted legislation accommodating legal structures for businesses that make a social impact.  For example, Maryland, New Jersey, Hawaii, Vermont, California, New York, and Virginia and have passed statutes authorizing Benefit Corporations.  And Illinois, Louisiana, Maine, Michigan, North Carolina, Rhode Island, Utah, Vermont, Wyoming have passed …

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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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Trying to Raise Capital? Seven Things Every Executive Summary Should Include

For Companies seeking to raise seed capital, or going out for investor financing, it is important to make sure your Executive Summary is well put together Executive Summaries are documents companies use when they begin to try to raise money and are used whether a company is pursuing early stage start-up financing or later capital …

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The Importance of Understanding Your Company’s Financial Projections

Many companies seeking investor capital retain professional service providers to put together financial projections and other information about the company, evidencing why the company is poised for growth and deserving of investor funds.  It is important that management understand these financial projections, and are able to explain them in detail, as investors dig deeper into …

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An example of Social Entrepreneurship from NBC’s Shark Tank

Ever wonder what it means to be a social entrepreneur? Well, I found some great video to demonstrate what it means. This link will take you to an episode of ABC’s hit show “Shark Tank.”   In this episode, Donny McCall makes a pitch for his product and company called Invis-a-Rack (after the commercial, jump to the …

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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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Examining the “Independent” Benefits Director requirement for New Jersey and Vermont Benefit Corporations? Could it be a Deterrent?

As most people following the social enterprise world are aware, legislation has made its way through several states allowing for the formation of a hybrid business structure called the Benefit Corporation.   A Benefit Corporation is a unique entity structure as it represents an attempt to bridge the gap between the for-profit and non-profit worlds.  Benefit …

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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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