Social Enterprise: A Lawyer's Perspective

“Impact Investing Term Sheets: How to Protect Mission in 2019 and Beyond” is a newly released podcast with discussion points from the most recent Social Venture Circle Conference, building and serving communities of inspired and informed impact investors and business leaders to make social, economic, and environmental change for more than 30 years.Most business deals start with a term sheet setting forth the material terms and conditions of the agreement. For the social enterprise deal, provisions relating to social impact, values, or mission, are important to impact investors and entrepreneurs alike. The panel discussed use of the term sheet structure as a way to identify, articulate, and enshrine social values and mission into impact investment transactions. The panel also contrasted traditional term sheet provisions with non-traditional “social” term sheet provisions that establish clear understandings around mission and impact at the outset and guide the preparation of legal documents.Speakers included:Allen Bromberger, Partner, Perlman & Perlman, nationally recognized for his groundbreaking work on the development of “hybrid” legal structures that support the simultaneous pursuit of financial and social goals. Through his legal practice, as author of The Art of Social Enterprise, and as a speaker, Allen has been at the forefront of the fourth sector and social enterprise movements that have risen to recent prominence.Teresa Pahl, Partner, Hanson Bridgett, one of the top-rated business and corporate attorneys in California, represents clients in all phases and aspects of their businesses. Teresa’s expertise includes matters involving general corporate law, securities law, and real property law, with a focus on, and passion for, assisting mission-driven companies and impact investors.This content is intended for industries across family offices, impact investors, social ventures, social enterprises, non-profit organizations, and socially responsible companies, among others. Allen and Teresa are proud to release this content to support changemakers working on protecting mission who were unable to attend.