The low-profit, limited liability company (“L3C”) is a hybrid social and business entity not entirely for-profit or entirely not-for-profit. Referred to as a “for-profit with the nonprofit soul,” an L3C is a “specifically branded LLC” governed by a state's Limited Liability Company...

One new business model is the low-profit, limited liability company (L3C). The L3C was first introduced in Vermont in 2008 and has since been adopted by several other states. The L3C is designed to serve the for-profit and nonprofit needs of social enterprise within one organization. As such, it...

The standard solutions to agency, incentive contracting and monitoring, are degraded by the frequency and the duration of the decisions affected. Decisions of low frequency and long duration are not effectively controlled by either monitoring or incentive contracting. For decisions of low...

We develop a theoretical framework for describing, modelling, and predicting entrepreneurial strategies by corporations in transitional public policy environments. Drawing on research in entrepreneurship, real options, and strategic management under uncertainty, we demonstrate how corporations...