Socially responsible enterprises are characterized by their pursuit of the dual purposes of social and financial goals. Typically, they have a commitment to their various stakeholders, including their workers, their communities and the environment. They have a number of alternatives available to help them achieve those dual purposes, including legal structure (such as a benefit corporation), policies, assessment, reporting and certifications.
They can be created by existing for-profit businesses, entrepreneurs starting a new business, or not-for-profit corporations. They can result from the creation or development of an entity itself or from utilizing contractual or joint venture agreements between entities.
We especially enjoy working with socially responsible enterprises because they offer such exciting opportunities for creativity, including developing and defining social purposes, a unique business plan, and mechanisms for assessing and reporting on social impact. In fact, prior to starting Singer Law PLLC, Doug Singer, a co-founder of Falcon & Singer P.C., led that firm’s efforts to become a Certified B Corporation.