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9 N.Y.U. J.L. & Bus. 439 (2012-2013)
Beyond Black and White: The New Paradigm of Social Enterprise

handle is hein.journals/nyujolbu9 and id is 453 raw text is: NEW YORK UNIVERSITY
VOL. 9        Special Issue 2013     No. 2

Editor's Note: In accordance with his role as emcee of the New York University journal of
Law & Business 2012 Fall Conference on the Law & Finance of Social Enterpise, Mr. West-
away composed this introduction to our Special Issue. It eloquently illustrates the breadth of
change occurring under the umbrella of social enterprise, which pieces of the puzzle our authors
and commenters have addressed in this issue, and what unanswered questions remain. We hope
that our efforts and those of our authors and commenters will flster additional scholarship in this
exciting area of law and business.
For too long we have been living in a black-and-white
world. Historically, the capitalist system has assumed that an
organization is either a for-profit (which exists to maximize
profit) or a non-profit/charity (which exists for a charitable
purpose).' At the center of the black-and-white paradigm is
the non-distribution constraint placed on charities, on the one
* Kyle Westaway believes in the power of the market to create a positive
social and environmental change. He is a Lecturer at Law on Social Entre-
preneurship at Harvard Law School. He is a cofounder of Biographe-a sus-
tainable style brand that employs and empowers survivors of the commercial
sex trade in Bangkok. Kyle is the Founding Partner of Westaway Law-an
innovative law firm that counsels social entrepreneurs on the leading edge
of the movement at every stage of growth from startup to acquisition. West-
away is the author of Profit & Purpose (Wiley) and founder of socentlaw
.com-the first blog on social enterprise law.
1. For one brief look at this history, see DAVmD BORNSTIIN & SUSAN DA-
vIs, SOCIAl. ENTREPRENEURSHIP pt.1 [Defining Social Entrepreneurship]
(2010). For a detailed history of Anglo-American charity, see Thomas Kelley,
Rediscovering Vulgar Charity: A Historical Analysis of America's Tangled Nonprofit
Law, 73 FORDHAM L. REv. 2437, 2466-67 (2005).

Imaged with Persmission of N.Y.U. Journal of Law and Business

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