This chapter argues that it is time to advance a legal scholarship agenda in the field of social entrepreneurship that prioritizes function over form, grounds theoretical observations in empirical research, and highlights the increasingly important role that corporate governance is likely to play in the evolution of the social entrepreneurship field. But it is not only the corporate governance of social enterprises that matters. The governance structures of those that invest in social enterprises matter too. Legal scholarship that focuses exclusively on how social enterprises are formed and governed runs the risk of overlooking another important driver of corporate behavior – that is, the investors that are mobilizing and aggregating sources of capital for companies engaged in social entrepreneurship.
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