Hybrid Corporations as an Emerging Business Structure: Latest Legal Developments

Evaluating Flexible Purpose, Social Purpose and Benefit Corporations; Legal Considerations for Documentation

Recording of a 90-minute CLE webinar with Q&A


Conducted on Wednesday, March 6, 2013

Recorded event now available

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Program Materials

This CLE webinar will examine the latest legal trends regarding hybrid corporations, discuss the benefits and risks of pursuing this emerging corporate structure, explain circumstances in which a hybrid structure is appropriate, and review best practices for drafting corporate documents.

Description

Hybrid corporations bridge the gap between nonprofit and for-profit businesses, allowing businesses to access traditional capital while operating for social as well as business missions.

Massachusetts and Pennsylvania most recently passed benefit corporation laws. California, New York, New Jersey, Maryland, Virginia and Vermont have adopted hybrid corporation legislation, and other states are considering such legislation.

Corporate attorneys who advise businesses on hybrid corporations must have a detailed understanding of when the hybrid form is appropriate, how hybrid corporations operate, how they differ from other corporate structures, and how to draft corporate documents that incorporate social goals.

Listen as David A. Levitt, a partner with Adler & Colvin experienced in advising hybrid corporations, discusses the pros and cons of creating hybrid corporations, circumstances in which the hybrid structure might be used as an alternative or a subsidiary to a nonprofit business, and best practices for drafting corporate documents that incorporate the social mission.

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Outline

  1. Defining hybrid corporations and the various forms
    1. Benefit corporations
    2. Flexible purpose corporations
    3. Social purpose corporations
  2. Recent legal developments in the use of hybrid corporations—states with hybrid corporation statutes
  3. Determining when a hybrid corporate structure is appropriate
  4. Corporate documentation considerations

Benefits

The panel will review these and other key questions:

  • How are hybrid corporations being used as an alternative to traditional nonprofit and for-profit businesses?
  • What are the key benefits and risks of establishing a hybrid corporate structure?
  • What are the critical legal considerations for structuring and documenting a hybrid corporation?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

David A. Levitt
David A. Levitt

Principal
Adler & Colvin

His practice focuses on the representation of nonprofit and tax-exempt organizations, with an emphasis on...  |  Read More

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