Monthly Archive: September 2009

The Governor of Illinois, recently signed into law a new bill that will allow entities to form a new hybrid corporation: the low-profit corporation. Commonly known as L3Cs, companies can qualify for the low-profit status if their primary objective is to achieve a socially beneficial purpose. L3Cs may greatly reduce the barriers some companies have …

Continue reading »

Permanent link to this article: http://cobaltlaw.com/illinois-allows-companies-to-be-mostly-good-and-still-profit/