Season Two: Episode Six – Examining for-profits and non-profits, benefit corporations, the B Lab certification process, philanthropy LLCs, and impact investing.

Episode Description: Bernice Grant, Senior Director of the Entrepreneurial Law Program at Fordham University School of Law joins with Professor Dana Brakman Reiser, Professor of Law at Brooklyn Law School, Visiting Professor of Law at Fordham School of Law and author of Social Enterprise Law: Trust, Public Benefit, and Capital Markets, to discuss social enterprise law.

Episode Roadmap:

[:30] Bernice Grant welcomes Professor Reiser and introduces her new book.
[4:47] The legal difference between for-profit and non-profit companies.
[6:53] An overview of a benefit corporation and the responsibilities of their directors.
[13:14] Well known benefit corporations and what they all have in common.
[14:39] Adopting hybrid form business models and prioritizing the mission-protected hybrid business model.
[20:23] Advantages of using a for-profit LLC business model for philanthropic efforts.
[26:25] Impact investing and how it is closing the gap to capital for social benefit entrepreneurs.
[29:05] Defining the differences between benefit corporations and obtaining certification from B Labs.
[31:30] Nurturing an entrepreneurial spirit and great book recommendations.

Tweetables:

“My research focuses on any place where the boundary is blurred between charity and business, non-profit and for-profit activity.” — Dana Brakman Reiser

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“Entrepreneurs who are seeking to develop a business that has a social mission have a lot of choices.” — Dana Brakman Reiser

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“We argue that to differentiate from any for-profit entity, a specialized form would have to require prioritization of the social mission.” — Dana Brakman Reiser

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“Lawyers are not there to kill your dreams. Lawyers are there to make your dreams happen.” — Dana Brakman Reiser

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Mentioned in This Episode:

Additional Resources:

Fordham’s Entrepreneurial Law Clinic
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Startup LAWnchpad is the podcast that educates entrepreneurs about forming, growing, and protecting a startup. Startup LAWnchpad is produced by the Entrepreneurial Law Clinic at Fordham University School of Law in New York City.