Producing Better Mileage: Advancing the Design and Usefulness of Hybrid Vehicles for Social Business Ventures

103 Pages Posted: 28 Mar 2015 Last revised: 15 Jul 2016

See all articles by John E. Tyler

John E. Tyler

Ewing Marion Kauffman Foundation; Columbia University

Evan Absher

University of Missouri at Kansas City

Kathleen Garman

University of Missouri at Kansas City

Anthony J. Luppino

University of Missouri at Kansas City - School of Law

Multiple version iconThere are 2 versions of this paper

Date Written: March 26, 2015

Abstract

Since 2008 approximately half of the states in the U.S. have enacted statutes permitting “hybrid” business forms that blend aspects of traditional for-profit ventures with characteristics normally associated with traditional non-profit entities. This article analyzes theoretical, academic, practical, legal, and regulatory questions regarding the extent to which the existing hybrids are suited to achieving social purposes objectives, including in comparison to modified traditional forms of business organization. Finding the current fleet of hybrids an innovative, useful start, but with need to evolve, this article proposes statutory language (set forth in a detailed appendix, and summarized in the article text), and regulatory policies, including in the areas of general oversight, tax, and securities regulation, for a next iteration of hybrid — a “Social Primacy Company” designed to provide more clarity in the marketplace for socially-conscious investors.

Keywords: social enterprise, hybrid forms, benefit corporation, b corps, social purpose corporation, l3c, low profit limited liability company, program related investments, pri, impact investing, social entrepreneurship, business forms, corporate forms, regulation, taxation, securities

JEL Classification: K20, K23, K29, L20, L21, L22, L29, L30, L31, L33

Suggested Citation

Tyler, John E. and Absher, Evan and Garman, Kathleen and Luppino, Anthony J., Producing Better Mileage: Advancing the Design and Usefulness of Hybrid Vehicles for Social Business Ventures (March 26, 2015). Quinnipiac Law Review, Vol. 33, No. 2, 2015. Available at SSRN: https://ssrn.com/abstract=2585755

John E. Tyler (Contact Author)

Ewing Marion Kauffman Foundation ( email )

4801 Rockhill Road
Kansas City, MO 64110-2046
United States
816-932-1293 (Phone)

Columbia University ( email )

3022 Broadway
New York, NY 10027
United States

Evan Absher

University of Missouri at Kansas City

5100 Rockhill Road
Kansas City, MO 64110-2499
United States

Kathleen Garman

University of Missouri at Kansas City

5100 Rockhill Road
Kansas City, MO 64110-2499
United States

Anthony J. Luppino

University of Missouri at Kansas City - School of Law ( email )

5100 Rockhill Road
Kansas City, MO 64110-2499
United States

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