An anarchist's incorporation cookbook
Yesterday's news brought us an article from a group of anarchists about incorporation, and you may have noticed a bit of reluctance toward getting any more entangled with the government than is absolutely necessary. Not surprising, that--that's part of the anarchist value system.
But you don't have to be an anarchist to want to avoid dealing with the government when starting up a social enterprise. Doing good can be challenging, but it has other words; paperwork can be messy, hard, expensive and--when you add the possibility of tax audits and attorney general investigations that come with getting on the radar screen--risky.
So why bother?
Here are a few key advantages of incorporating. Later next week we'll add some details regarding a few other options, such as forming a trust ("property with a purpose") or an unincorporated association.
- Limited liability: Forming a corporation means that insiders are not personally liable for the group's obligations. In other words, your house is not on the line when the group gets sued for not honoring a contract or accidentally hurting someone.
- Contracting: If you want the organization to open a bank account, to acquire property or to enter into other agreements, incorporation helps clarify the legal relationships and may even be required.
- Decision-making rules: Corporate law is not just a bunch of requirements. It also provides a set of standard decision-making rules. You can change many of them in your bylaws to suit your organization's particular needs, but when disagreements arise it can be useful to have a set of procedures for resolving them ready-made out of the box.
- Funding: Grantmakers & other venture funders are often more comfortable giving money to corporations--which are legally distinct from their members, directors and officers--than to individuals in an unincorporated association.
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