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https://doi.org/10.36880/c05.0...
Article . 2014 . Peer-reviewed
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Social Businesses and the Legal Structure of Social Businesses

Sosyal İşletmeler ve Sosyal İşletmelerin Hukuki Yapısı
Authors: Hülya Göktepe;

Social Businesses and the Legal Structure of Social Businesses

Abstract

Social business, was first defined by Nobel Peace Prize laureate Prof. Muhammad Yunus and is described in his books. Social businesses are non-loss, non-dividend companies created to address and solve social or environmental problems. Microfinance is another form of social businesses. Like an NGO, social business has a social mission, but like a business, it generates its own revenues to cover its costs. In a social business, the investors/owners can gradually recoup the money invested, but cannot take any dividend beyond that point. The purpose of the investment is purely to achieve one or more social objectives through the operation of the company. No personal gain is desired by the investors. The company must cover all costs and be financially sustainable, while achieving the social objective in sectors such as healthcare, education, poverty, environment, housing, climate urgency etc. Legal structures available to all enterprises can be used by social businesses. These are: for-profit organizations, non-profit organizations (associations, foundations), charities, co-operatives. However, there are legal structures specifically designed of social businesses. These are: benefit corporation, flexible purpose corporation, low profit limited liability company (L3C), hybrids, community interest company (CIC).The purpose is this study is to contribute to the Turkish literature related to social businesses. In this study, definition of social business and microfinance will be given. The characteristics of social business will be indicated, social business examples will be presented and finally legal structures of social businesses will be analyzed. This study is descriptive study.

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
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Average
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