Pursuing Profit & Purpose: Program to Explain New Benefit Corporation Legislation

July 15, 2011

Donald SimonWendel Rosen green business attorney Donald Simon will be a panelist on July 21 at the following presentation being hosted by The Hub in San Francisco.  Donald has been part of the legal working group to get the AB 361 legislation passed, including recently testifying before senate subcommittees.  You can view a recent video interview with Donald given on the steps of the capital in which he discusses the purpose of the benefit corporation legislation.

Here’s the event description.  Full program information, including the rest of the panelists and registration information, can be found by following the link at the end of this post.   Hope to see a great crowd in attendance. 

Pursuing Profit and Purpose: The Debate in California’s Statehouse and What it Means for Us

California has been a pioneer of innovation on many fronts – industry, media, science, and technology.  Today our statehouse is considering two bills that could significantly enhance California’s ability to innovate in the social enterprise sector.

In the State Assembly and State Senate, new legal forms are being considered for corporations — the Benefit Corporation and the Flexible Purpose Corporation.  Both seek to make it easier for entrepreneurs to pursue both purpose and profit under one roof.  

Why do we need such legislation?  What are the differences between the two bills?  Will new laws make it easier for entrepreneurs to find start-up capital?  What are the prospective advantages and potential perils for investors?  Should for-profit social businesses benefit from preferential treatment similar to the incentives available to non-profit organizations?

In partnership with the Impact Economy Initiative of the Aspen Institute, Omidyar Network is proud to host a conversation with leading voices in this conversation.  Panelists will share insights on the legislation as well as explore implications for impact investors, social entrepreneurs, and philanthropists.  This will be a hands-on discussion designed to frame the issues in a practical manner that will be useful to all.



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