We are in an era of social responsibility – What you don’t do can cost you. Social enterprise is now the norm, and customers want to know that businesses share their desire to make the world a better place by supporting an important cause.
One major reason for the popular trend of brands utilizing Corporate Social Responsibility practices is that a halo effect can be produced – and it can be far reaching. The halo effect can be described as a cognitive bias in which one trait can positively affect the subsequent perceptions of a brand.
By sponsoring or partnering with a good cause, the brand may generate a positive effect on the consumer by borrowing from the equity and good will of the partnered cause ultimately increasing purchase intent.
Whether your business embodies social enterprise in its entity structure, such as incorporating as a Benefit Corporation, Social Purpose Corporation, or Low-Profit Limited Liability Company (L3C), our attorneys can provide unique insight given our expertise in social enterprise law.
Contact us for a consultation so we can discuss your specific social enterprise legal needs.