In my opinion, the time is right for a Canadian version of the CIC. It will help modernize Canada’s legal
and regulatory framework regarding social or community enterprise, and it will fill a gap between
business corporations, co-operatives, non-profit organizations, and charities. This new legal structure
could be modeled closely on the UK approach, or it could draw on the Benefit Corporation model
legislation recently adopted in Maryland, or could combine attributes of both. Such a new structure will
not displace the existing options, but will give more choice to entrepreneurs and organizations with a
desire to devote their creativity to community benefit