Lisa Garrison, Attorney, Smith Moore Leatherwood
At the firm of Smith Moore Leatherwood LLP, Lisa Garrison maintains an active business litigation practice advising and representing clients in anything from claim appeals to multiple jury trials, but she also has an active presence with companies that have socially beneficial missions. Lisa serves as the founder of the firm’s “Benefit Corporation Team” or the “B Team” which focuses on exploring and serving the legal needs of aspiring or existing “benefit” or “B Corp” companies – for-profit businesses that seek to better the world through identified social missions and by focusing on sustainability and TPL/3BL (the “triple bottom line” pillars of profits, people, and planet).
Today, we’re discussing with Lisa how the “B Team” came to be at Smith Moore Leatherwood LLP and the assistance it provides Benefit Corporations in need, the financial advantages that come with forming a B Corp, and why every entrepreneur needs to read up on the pros and cons of Benefit Corporations before starting one up.
From Pikes Peak to Rocky Mountain National Park, coming to Colorado means getting a little bit of every kind of landscape under the sun from the aforementioned mountain areas to forests, deserts, canyons, mesas, and high plains. It also means meeting and greeting with an abundance of entrepreneurs starting up their own small businesses! Former technology and aerospace firm employees have branched out to Colorado to start up their own IT, manufacturing, and home-based consulting companies, as mentioned on CNNMoney with the 2011 numbers ranking in 420 new businesses per 100,000 adults.
What brings entrepreneurs in? Outside of the fact that there’s plenty to do and see and sites to ski on, starting up a business in Colorado means a lower cost of living all around, affordable worker’s compensation rates, and state-funded training programs made available. Before you decide to form an LLC or corporation in Colorado, however, keep the following advantages and rules in mind: