KICKSTARTER steps up for corporate responsibility, becomes new Benefit Corporation


If you follow business issues, particularly corporate entity structure and how the existing incorporation laws require companies to ignore the common good in favor of shareholder profits, then you may have applauded the recent creation of a new corporate entity form: the Benefit Corporation (also referred to as a “B-Corporation”). The popular current corporate structure (referred to as a “C-Corporation”) often comes under fire from all sides of the political spectrum because of the damage done to the economy, environment, and citizens as a result of its traditional focus on short-term profits. See, for example, “Clinton outlines steps to curb U.S. companies’ focus on short-term profits“.

Social funding site KICKSTARTER has just now converted to a Benefit Corporation.

KICKSTARTER

KICKSTARTER

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Crowdfunding and “Hey Zach Braff STFU and pay for your own movie” [UPDATED January 2014]


STFU ZACH BRAFF

STFU ZACH BRAFF

Why is there controversy about projects such as Rob Thomas‘s VERONICA MARS and Zach Braff‘s WISH I WAS HERE going to crowdfunding for the money to make their projects?

The surge in Perks-based Donor Crowdfunding over the past few years was primarily built on the concept that creative projects dreamed up by common folks with more ideas than money could go to each other rather than impenetrable banks or brokerages. The popular site Kickstarter (one of many) started in 2009 with the premise that such ideas, ones that were still good ideas even though they didn’t have a promise of likely profitability, could be brought to the public to allow the average person to help make the ideas into reality by donating money. This is a broad concept akin to what wealthy benefactors would do in ages past, when they became “patrons of the arts” by providing money so artists could create works of art.

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The JOBS Act of April 2012 is a Failure for America.


THIS IS A MAJOR JOBS PROBLEM AND NEEDS OUR ATTENTION:

America needs good jobs. Joblessness and low-wage jobs have crippled the survival and prosperity of millions of Americans, and are a drag on our entire economy.

The promise of the JOBS Act, signed into law a year ago and supported by the most bi-partisanship effort in recent history, is DEAD because the Federal Securities and Exchange Commission (SEC) has failed to enact it.

The JOBS Act established a deadline of Wednesday, July 4, 2012, for the SEC to promulgate rules and regulations for the implementation of TITLE II—ACCESS TO CAPITAL FOR JOB CREATORS (commonly referred to as the “general solicitation rule“). The SEC missed that deadline. The agency did publish proposed rules for TITLE II on August 29, 2012, but has not implemented them. There is no anticipated date for finalizing the rules for Title II of the JOBS Act.

The JOBS Act established a deadline of Monday, December 31, 2012 for the SEC to promulgate rules and regulations for the implementation of TITLE III—CROWDFUND (commonly referred to as “Equity Crowdfunding“). The SEC missed the deadline, and has no anticipated date for the rulemaking to implement TITLE III.

AMERICA NEEDS JOBS! Hope from the JOBS Act of 2012 has been *crushed* by the SEC’s inaction and dismissal of the JOBS Act!

 

FILMMAKERS, IT’S 2013. DO YOU KNOW WHERE YOUR JOBS ACT IS? Part 1


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FILMMAKERS, IT’S 2013. DO YOU KNOW WHERE YOUR JOBS ACT IS? Part 1 of 2

Michael R. Barnard

Michael R. Barnard

Written by Michael R. Barnard

Michael R. Barnard is a writer and filmmaker who has been researching the American JOBS Act since it was first proposed. Barnard is currently working on creating an independent feature film, A FATHER AND SON. He lives in Brooklyn, New York, and is the author of the historical novel NATE AND KELLY. Find him on Twitter at @mrbarnard1, Facebook at michael.barnard and LinkedIn at michaelrbarnard.

This article is an overview and observation, not legal advice.

 

SUMMARY: The independent film industry in America is not enjoying the growth that would be expected from the surge in the quantity of indie movies being made. The American JOBS Act, passed in April 2012, offers hope to reinvigorate the independent film industry.

 

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FILMMAKERS, IT’S 2013. DO YOU KNOW WHERE YOUR JOBS ACT IS? Part 2


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FILMMAKERS, IT’S 2013. DO YOU KNOW WHERE YOUR JOBS ACT IS? Part 2 of 2

Michael R. Barnard

Michael R. Barnard

Written by Michael R. Barnard

Michael R. Barnard is a writer and filmmaker who has been researching the American JOBS Act since it was first proposed. Barnard is currently working on creating an independent feature film, A FATHER AND SON. He lives in Brooklyn, New York, and is the author of the historical novel NATE AND KELLY. Find him on Twitter at @mrbarnard1, Facebook at michael.barnard and LinkedIn at michaelrbarnard.

This article is an overview and observation, not legal advice.

 

SUMMARY: The independent film industry in America is not enjoying the growth that would be expected from the surge in the quantity of indie movies being made. The American JOBS Act, passed in April 2012, offers hope to reinvigorate the independent film industry.

 

           In Part 1, we discussed the reasons behind the difficulty raising equity investment. Continue reading