In this Issue:
New corporate forms are blurring the boundaries between for profits and nonprofits. Old silos of financing and funding streams are giving way to hybrid structures like social capital firms, public/private collaborations and venture philanthropy. Entrepreneurs and established organizations alike are bending the marketplace to meet multiple bottom lines including a return on social capital. While some nimbly explore the space between for profit and nonprofit, many more are struggling to make sense of the new landscape of social change.
The Structure Lab provides participants with a roadmap of possibilities to navigate this new territory. Participants will have a clear understanding of the range of possible legal structures that can be employed for their newly forming venture, pros and cons of each of those structures as it applies to their prospective venture, and will be prepared to work with legal counsel to take the next steps in understanding and establishing the optimal legal structure.
Thursday, September 29th
Hanson Bridgett LLP
Pre-registration is required.
Support AB 361 (Huffman) Benefit Corporation Legislation in California
Businesses and organizations from all over California strongly support AB 361 (Huffman) Benefit Corporation Legislation. Benefit Corporation Legislation enables the development of a growing sector of the economy comprised of innovative businesses that seek to create benefit for society in addition to profit for shareholders. Business leaders in this new economy want the legal protection, currently not afforded under the California corporate code, to pursue a higher corporate purpose than simply maximizing shareholder value. Importantly, companies seek to do far more than simply pick a single charity or environmental task to improve their image (often called “green washing”), but rather seek to improve the world we work in by creating high quality jobs that improve quality of life in our communities. Benefit Corporation Legislation contains the general public benefit provisions that ensure that consumers, investors, and policy makers can clearly distinguish companies who are pursuing a higher corporate purpose from those that are doing something more narrow for marketing purposes.
Benefit Corporation Legislation also provides additional accountability to shareholders by redefining the fiduciary duty of directors, requiring them to consider the impact of their decisions on the long term interests of society, not just the short term interests of shareholders, even when considering a sale of the business. To ensure increased transparency to shareholders and the public, Benefit Corporations are also required to assess their overall social and environmental performance against a third party standard. By doing so, the company and all its stakeholders are made aware of how well the Benefit Corporation is doing relative to independent, credible, transparent, and comparable standards. Markets thrive on clarity and transparency, and these third party standards provisions create a level playing field and a more efficient and effective marketplace. They prevent the bad actors from simply cherry picking a few facts that are favorable for their image.
Benefit Corporation Legislation is now law in Maryland, Vermont, Virginia and New Jersey. Benefit Corporation Legislation has been introduced and is progressing rapidly in New York, Pennsylvania, Michigan, North Carolina, and Hawaii. It has attracted strong bipartisan support in every state, because it is entirely voluntary and has no budget impact.
On July 20th Hanson Bridgett was awarded the SF Business Times Community Partner in Sustainability Award.
Hanson Bridgett has been awarded the 2011 Diversity Award from the State Bar of California for our long term, sustained accomplishments toward increasing diversity in the legal profession.
Hanson Bridgett announced the opening of our new East Bay office in Walnut Creek.
Hanson Bridgett Partner Jonathan Storper received an award from Food From the Bar recognizing his leadership during the 20th annual food drive. In addition, Hanson Bridgett received the Platinum Partner award for our donations and efforts during the drive.
Executive Certificate Program Accepting Applications for Spring
The Executive Certificate Program in Sustainable Leadership at Presidio Graduate School is accepting applications for the spring session. Join us for an information webinar to learn how graduates of the program have transformed their careers and how to apply for our sessions.
For more information, email email@example.com or call Carl Schneebeck at (415) 655-8956
Social Capital Market Manifesto 2.0 by Kevin Jones
"Investors don’t enter the social capital market just to make money; they come in to make a difference and get a positive return on their capital. Sometimes that return is financial first, sometimes it’s impact first, but both sides of the spectrum are needed to build the market at the intersection of money and meaning."
Don't Miss 30% Off SOCAP11
What does Money + Meaning = ? Now in its fourth year, SOCAP is the premiere global conference celebrating a new form of capitalism that recognizes our ability to direct the power & efficiency of market systems toward social impact.
As partners of SOCAP11, we invite you to take advantage of our 30% off registration code (expires August 23rd): HansonBridgett30.
Register for SOCAP11 at SOCAP11.net »
September 6th - 9th
Fort Mason Center
2011 Angel Capital Expo
Keiretsu Forum, the world's largest angel investment community will hold its upcoming Angel Capital Expo on November 17, 2011 from 7:30am to 3:30pm at the Julia Morgan Ballroom in San Francisco.
Angel Capital Expo is the premier gathering of angel investors and entrepreneurs seeking funding capital to grow their business. On November 17, 2011 more than 300 of the Bay Area's most active and respected angel investors will attend the Expo.
Thursday, November 17th
Hanson Bridgett LLP, 425 Market Street, 26th Floor, San Francisco, CA 94105