B Corp Experts Weigh In: Q&A with Lisa Garrison

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.

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J is for: Joint Venture

It’s that time in the alphabet, MyCorp blog readers- time for some ‘J!’

And today’s letter J is brought to you by Joint Ventures.

A joint venture is a firm formed to accomplish specific objectives with a partnership; a temporary arrangement between two or more firms. They’re great as a risk reduction tool when entering a new-market and for pooling resources for large projects. Continue reading

Great Advice from Terrible Lawyers

Is there anything that television can’t teach us? Well… yeah there is plenty but let’s focus on the positives. Lawyers have been the butt of television jokes for years – the stereotype of a sleazy, underhanded fellow in a cheap suit is alive and well on the tube.

Despite their lack of ethics and, in some cases, formal training a few of their key soundbites can instill a life-long lesson in those willing to listen. And the MyCorp Social Media team is always willing to listen to TV. Continue reading

LLC 101

If you’ve been following our blog for the past couple of Fridays, you know that we’re covering four basic tax tips to consider when forming a new entity. If you missed the first two, read up on the C-Corporation and S-Corporation.

The four considerations we’ve been covering are:

  1. Pass through of gains
  2. Pass through of losses
  3. Transfer of assets to the entity, and
  4. Transfer of assets from the entity Continue reading