Download this Paper Open PDF in Browser

The Next Big Thing: Flexible-Purpose Corporations

22 Pages Posted: 24 Oct 2012  

Dana Brakman Reiser

Brooklyn Law School

Date Written: October 24, 2012

Abstract

Over the past few years, jurisdictions across the country have enacted specialized organizational forms to house social enterprises. Social enterprises are entities dedicated to a blended mission of earning profits for owners and promoting social good. They are neither typical businesses, concentrated on the bottom line of profit, nor traditional charities, geared toward achieving some mission of good for society. Their founders instead see value in blending both goals. This article examines the latest specialized form to take shape: the flexible purpose corporation (FPC). After explaining the genesis of FPC enabling legislation, the article critiques its major provisions and compares them with relevant aspects of other specialized forms for social enterprise.

Keywords: Social Enterprise, B Corporation, Flexible Purpose Corporations, Benefit Corporations, Hybrid Organizations, L3C, Charity, Nonprofit, Philanthropy

Suggested Citation

Brakman Reiser, Dana, The Next Big Thing: Flexible-Purpose Corporations (October 24, 2012). Business Law Review, 2012; Brooklyn Law School, Legal Studies Paper No. 311. Available at SSRN: https://ssrn.com/abstract=2166474

Dana Brakman Reiser (Contact Author)

Brooklyn Law School ( email )

250 Joralemon Street, Rm. 814
Brooklyn, NY 11201
United States
718-780-0396 (Phone)
718-780-0376 (Fax)

Paper statistics

Downloads
417
Rank
57,600
Abstract Views
1,570