| Title |
The Essential Role of Enterprises for an Inclusive and Sustainable Development: Towards a New Uniform Model Law for the Social Enterprise? |
| ID_Doc |
66630 |
| Authors |
Ventura, L |
| Title |
The Essential Role of Enterprises for an Inclusive and Sustainable Development: Towards a New Uniform Model Law for the Social Enterprise? |
| Year |
2020 |
| Published |
European Company Law, 17, 1 |
| DOI |
|
| Abstract |
This article provides a general overview of several new types of hybrid entities, blending for-profit and not-for-profit purposes, which have been introduced in the United States, Europe and Latin America with the objective of providing social entrepreneurs with a proper vehicle for the conduct of their mission-driven business activities. Among them, the most famous hybrid form is the benefit corporation, born in Maryland in 2010, currently adopted by thirty-five states of the US (including Delaware) and transplanted in Italy and Colombia. France also developed a new similar legal status, the one of 'entreprise a mission'. It seems that we are facing the birth of a new uniform hybrid entity model for the social enterprise (SE) movement. The adoption of a uniform model statute, such as the 'for-benefit' model, capable of solving the problems arising from the governance structure of a dual-purpose company, can serve the fundamental purpose of offering domestic legislatures a uniform point of reference in implementing domestic regulation of hybrid companies. From the European Union perspective, the introduction of a European SE model statute can provide the necessary legal framework to foster the development of a strong European fourth sector, establishing harmonized conditions for SEs all over the EU and thus facilitating cross-border investment and trading in this sector. |
| Author Keywords |
benefit corporation; societa benefit; sociedades de beneficio e interes colectivo; B Lab; social enterprise; shareholder primacy; dual purpose companies; triple bottom line; hybrid entities; SDGs |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Emerging Sources Citation Index (ESCI) |
| EID |
WOS:000518412500002 |
| WoS Category |
Law |
| Research Area |
Government & Law |
| PDF |
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