Entity of Choice for Most Social Entrepreneurs
You are an inspired entrepreneur, and you’ve heard about the business wave of the future.
Social enterprise… conscious capitalism… whatever you call it, you identify with a new way of doing business. A method that focuses on meeting an compelling community, environmental or public need in addition to making a profit.
Making a profit and and remaining loyal to your principles do not have to be mutually exclusive.
The California Benefit Corporation
In California, you can choose to design your business with a little bit of “nonprofit DNA” inserted right into the foundational underpinnings of your enterprise.
In a nutshell, Benefit Corporations must create “… general public benefit,” and “may identify one or more specific public benefits that shall be the purpose or purposes….” of the corporation.
Moreover, in carrying out these purposes, the directors and officers must take into account multiple interests, not just the bottom line of increasing profits for the shareholders.
Professional assistance is available, from attorneys experienced in representing social enterprises including Benefit Corporations and their interesting California Cousin (the Social Purpose Corporation).
We offer a complete, start-up package on a fixed fee basis for new Benefit and Social Purpose Corporations.
Our Flat-Fee Package Includes:
- One on one consultation with an experienced Social Enterprise Attorney;
- Reserving the Desired Name with California Secretary of State;
- Drafting and Filing Custom Articles of Incorporation as a California Benefit Corporation;
- Drafting of Custom Bylaws, Tailored to Benefit Corporations;
- Obtaining Federal Employer Identification Number (FEIN);
- Filing of Statement of Information with California Secretary of State;
- Corporate Binder, with Required Statement on Share Certificates;
- Filing of a Limited Offering Exemption Notice (LOEN) with the California Department of Business Oversight;
- Preparing and submitting Form 2553, s-Corporation election if desired;
- Providing a Operational Memo, including referrals to various “third party” evaluators including B Labs, required under the Benefit Corporation statutes, so you get off to the best possible start.
The flat-fee we charge for a typical Benefit Corporation is less than you might think.
Schedule a 30-Minute In-Depth Strategy Session to speak with an experienced and knowledgeable attorney to learn more about our flat-fee packages.