The Viability of the Low-Profit Limited Liability Company: What it Will Take for the L3C to Become Social Entrepreneurship's Next Big Thing

The Viability of the Low-Profit Limited Liability Company: What it Will Take for the L3C to Become Social Entrepreneurship's Next Big Thing

Bibliographic Details
Main Author: Shirkman, Jordan
Language:English
Published: Ohio University Honors Tutorial College / OhioLINK 2011
Subjects:
Entrepreneurship
L3C
low-profit limited liability company
social entrepreneurship
fourth sector
Vermont
qualitative interviews
Online Access:http://rave.ohiolink.edu/etdc/view?acc_num=ouhonors1307885423
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spelling ndltd-OhioLink-oai-etd.ohiolink.edu-ouhonors13078854232021-08-03T06:07:00Z The Viability of the Low-Profit Limited Liability Company: What it Will Take for the L3C to Become Social Entrepreneurship's Next Big Thing Shirkman, Jordan Entrepreneurship L3C low-profit limited liability company social entrepreneurship fourth sector Vermont qualitative interviews The low-profit limited liability company (L3C) has emerged as a result of the growingfourth sector of the American economy. As social entrepreneurship grows and a desirefor businesses to make a social impact along with profits continues, some believe thesolution is a “for-profit business with a non-profit soul” as the L3C creator RobertLang has dubbed the new legal entity. L3C legislation has been ratified in eight states,starting with Vermont. Due to the ambiguity and newness of the L3C, there are anumber of unanswered questions about the legal status, from funding to branding.Debates have swirled about the legitimacy and necessity of the L3C status since itsinception. This paper attempts to answer the question of what must change for L3Cs tobecome the legal option of choice for social enterprise. By conducting phoneinterviews with founders and managers of 16 Vermont-established L3Cs and askingquestions about the hurdles, hardships and happenings of L3Cs, this paper concludesL3Cs should take advantage of their branding platform to advance as the legal statusof choice for social business, and that L3Cs must individually pursue foundations withnearly identical social missions if they hope to acquire program related investments.Using qualitative-interpretivist exploratory interviewing methodology, this is one ofthe first qualitative research studies on low-profit limited liability companies. 2011-06-16 English text Ohio University Honors Tutorial College / OhioLINK http://rave.ohiolink.edu/etdc/view?acc_num=ouhonors1307885423 http://rave.ohiolink.edu/etdc/view?acc_num=ouhonors1307885423 unrestricted This thesis or dissertation is protected by copyright: all rights reserved. It may not be copied or redistributed beyond the terms of applicable copyright laws.
collection NDLTD
language English
sources NDLTD
topic Entrepreneurship
L3C
low-profit limited liability company
social entrepreneurship
fourth sector
Vermont
qualitative interviews
spellingShingle Entrepreneurship
L3C
low-profit limited liability company
social entrepreneurship
fourth sector
Vermont
qualitative interviews
Shirkman, Jordan
The Viability of the Low-Profit Limited Liability Company: What it Will Take for the L3C to Become Social Entrepreneurship's Next Big Thing
author Shirkman, Jordan
author_facet Shirkman, Jordan
author_sort Shirkman, Jordan
title The Viability of the Low-Profit Limited Liability Company: What it Will Take for the L3C to Become Social Entrepreneurship's Next Big Thing
title_short The Viability of the Low-Profit Limited Liability Company: What it Will Take for the L3C to Become Social Entrepreneurship's Next Big Thing
title_full The Viability of the Low-Profit Limited Liability Company: What it Will Take for the L3C to Become Social Entrepreneurship's Next Big Thing
title_fullStr The Viability of the Low-Profit Limited Liability Company: What it Will Take for the L3C to Become Social Entrepreneurship's Next Big Thing
title_full_unstemmed The Viability of the Low-Profit Limited Liability Company: What it Will Take for the L3C to Become Social Entrepreneurship's Next Big Thing
title_sort viability of the low-profit limited liability company: what it will take for the l3c to become social entrepreneurship's next big thing
publisher Ohio University Honors Tutorial College / OhioLINK
publishDate 2011
url http://rave.ohiolink.edu/etdc/view?acc_num=ouhonors1307885423
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