GET EXCITED CHANGE NATION! This week we are talking about LEGAL ISSUES!
Wait… What?
You heard right! While it is not considered the most captivating or inspiring part of running a cause based business, legal structure is vital to determining the level social impact your company can have. We are very excited to talk this week with social business innovators Adam Wright and Bob Connaster of Wright Connaster Law in Dallas, Texas. Adam and Bob have a traditional corporate law background (over 45 years of experience combined) but recently created a very untraditional law firm driven to help caused based organizations create social good.
Wright Connaster Law completely flips the script of traditional corporate law practices. “We challenge ourselves to be as innovative as the clients we serve,” says Bob and Adam. This is all evident in their business model that allows clients to chose how much they want to spend for services. This low cost structure is made possible by efficient, lean, and transparent practices like working in a shared workspace for entrepreneurs instead of a legal office. Bob and Adam also refreshingly different with their willingness to suggest ways that social entrepreneurs can use low cost resources to handle legal matters themselves.
Adam and Bob share some great expertise that will benefit anyone in the Social Entrepreneur space. For-Profit, Non-Profit, and hybrid organizations like Benefit Corporations or Low-Profit Limited Liability Corporations are discussed in detail as Adam and Bob paint a picture of the different options for Social Entrepreneurs. They also dive into their approach to assessing the legal needs of an organization and give some great question to be thinking about before you start deciding the bylaws of your organization.
Listen in to Part 2 on Wednesday, Febuary 25th for more insight for more social business legal insight.
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