The Why-and-How of Benefit Entities: Benefit Corporation, L3C, and Social Purpose Corporation

Date: Available 24/7 CLE Credits: 2 General

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Course Description

This program was recorded on August 30th, 2017

There is a new player in the business space, the social entrepreneur, who is out to improve the world and make money doing it. Legislatures across the United States have created legal entities to accommodate them: from the L3C to the Benefit Corporation, these entrepreneurs are doing amazing things to better their causes using “social enterprises.” This lecture will provide attorneys and social entrepreneurs alike with the engaging story behind social enterprises as well as the technical differences and uses for these entities. Come learn why we have social enterprises and then how to use the various structures including social purpose corporation, L3C, flexible purpose corporations, and benefit corporation.


  • Peter Smith
    Peter’s practice includes corporate transactions and dispute resolution. Specifically, Peter focuses on providing enterprises with counsel and advice for a variety of issues surrounding business start-up. His experience includes advising nonprofits, for-profits and the especially interesting formation of businesses seeking to make a social impact like those operating or forming social purpose corporations. Peter’s litigation background includes complex business dispute, environmental, land use, and real estate litigation. He has represented both public and private clients in a variety of jurisdictions including federal and state courts, local administrative proceedings, local legislative hearings, and state hearings boards including the Pollution Control Hearings Board. Peter speaks and writes about a number of corporate law issues including tax-exemption, nonprofit and for-profit governance, and the legal considerations facing social entrepreneurs. Peter has donated his time by lecturing for Wayfind, a nonprofit organization that provides legal support for community based nonprofits, and advocating for low-income tenants through for the Housing Justice Project.

    Contact Peter

      • 2 General Credits
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      Each On-Demand course is available to you for 1 year from date of purchase. Additionally, CLE credit is only available within that year.
    1. Why many states have adopted “benefit” or “social” entities;
    2. Basics of the Benefit Corporation, L3C, and Social Purpose Corporation;
    3. The differences among benefit entities and state laws;
    4. Practical application for attorneys to use these entity types;
    5. Real world examples of these entity types and how they are used.

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