Carpe Crisis: Capitalizing on the Breakdown of Capitalism to Consider the Creation of Social Businesses

New York Law School Law Review, Vol. 54, No. 743, 2010

U Denver Legal Studies Research Paper No. 10-22

30 Pages Posted: 15 Aug 2010

See all articles by Celia Taylor

Celia Taylor

University of Denver Sturm College of Law

Date Written: August 13, 2010

Abstract

The recent meltdown of the world’s financial systems presents a unique opportunity to examine the very nature of the corporate form and to consider whether other models of business operation are needed. This article explains the idea of “social businesses” – profit-making, but not profit-maximizing entities that operate to further social good instead of exclusively generating returns for their shareholders. The article then explores the current legal regime for both profit and non-profit businesses under United States law, and suggests there is no ideal business structure currently available under which to operate a social business. In light of the increasing recognition that corporations can and should do more than profit-maximize, the article suggests a need for more flexibility to laws governing business entities.

Suggested Citation

Taylor, Celia, Carpe Crisis: Capitalizing on the Breakdown of Capitalism to Consider the Creation of Social Businesses (August 13, 2010). New York Law School Law Review, Vol. 54, No. 743, 2010; U Denver Legal Studies Research Paper No. 10-22. Available at SSRN: https://ssrn.com/abstract=1658591

Celia Taylor (Contact Author)

University of Denver Sturm College of Law ( email )

2255 E. Evans Avenue
Denver, CO 80208
United States

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