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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 JOURNAL OF LAW & BUSINESS 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. BEYOND BLACK AND WHITE: THE NEW PARADIGM OF SOCIAL ENTERPRISE KYLE WESTAWAY* 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). 439 Imaged with Persmission of N.Y.U. Journal of Law and Business

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