Socially-minded ventures have been getting a lot of press lately with the introduction of the business form known as the benefit corporations in several new states this year. However, in other states entrepreneurs with a social mission have another option for business formation known as the low-profit limited liability company, or L3C. This article briefly discusses the features and advantages of this form of business for socially-minded ventures.
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When Profit Is Not the Point: The Low-profit Limited Liability Company