Free Legal Chat: Which Legal Structure to Choose?Up to Message Board
Wednesday, August 24, 2011 1:00 pm - 2:00 pm Eastern Time
Free Live Chat
Marc J. Lane, a nationally recognized business and tax attorney based in Chicago, IL, and Ben Wirz, director of business consulting for the John S. and James L. Knight Foundation based in Miami, FL, will answer questions about how to choose between forming a nonprofit, for-profit, L3C, or B corporation to achieve your charitable mission. This event will be a live, text-based, online chat at GrantSpace.
With the availability of low-profit limited liability corporations (L3Cs) and B corporations in more and more states, choosing an organization type to achieve a charitable mission is no longer limited to nonprofits or for-profits. Learn from our expert panelists about what to consider when choosing a legal structure and the pros and cons of each form. Join our live Q&A, tap the expertise of our featured panelists, and share your own expertise. We devote most of the hour to your questions and comments!
If you missed the free lecture - Stanford Social Innovation Review is hosting another webinar on the subject on Thursday, Sep 22, 11-12pm PST. $49 registration fee also gets you access to all their archived webinars for 12 mos.
Veteran social entrepreneur Jim Fruchterman guides you through the issues you need to consider even before choosing an attorney. He emphasizes that a legal structure is simply a tool for accomplishing your goals, and explains that first a social entrepreneur must explore four basic issues: the motivation for starting the venture, the market being targeted, how capital will be raised, and what type of control is wanted. He then reviews the five basic legal structures and analyzes the advantages and disadvantages of each.