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This seminar reflects the business and nonprofit communities' growing reliance on entrepreneurial principles as they craft innovative responses to social needs. Through lectures, discussions and role-playing, students will be introduced to the legal concepts, opportunities and challenges which can most significantly impact the social entrepreneur's success. The topics to be explored include: the legal and tax advantages and disadvantages of alternative entity designs; the tricks and traps of securing federal tax exemption for the social enterprise; the thorny tax issues of unrelated business taxable income, private benefit, private inurement, excess benefits (compensation), lobbying and political campaign activity; sponsorships, endorsements and cause-related marketing; fundraising registration compliance; the rights and obligations of investors in the social enterprise; and contractual and governance techniques to hold managers accountable for social and financial results. Evaluation: Periodic quizes and class participation Papers written in this class do not meet any graduation writing requirement