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EMILIE AGUIRRE 1111 East 60th Street • Room 408 • Chicago, IL 60637 • [email protected] • (619) 339-9330

My research focuses on how business law treats companies that articulate objectives beyond profit. These companies offer potential to help solve some of the world’s most serious problems, but they are hotly contested and face legal and managerial barriers to success. I use a range of qualitative and quantitative methods, including in-depth on-site field work embedded at companies in the tech and food sectors, to understand their internal , their engagement with corporate finance and corporate governance frameworks, and how business law can facilitate their substantial potential for social impact.

CURRENT POSITION

University of Chicago Law School July 2019–present Earl B. Dickerson Fellow

EDUCATION

Harvard Business School, PhD in Health & Management Expected 2021 Joint Degree with Harvard Graduate School of Arts & Sciences Dissertation: Pairing Purpose and Profit Committee: Julie Battilana (chair), Herman “Dutch” Leonard, Anthony Casey Board Member, Latinx Student Association

Harvard Law School, J.D. February 2013 Journals: Harvard Civil Rights-Civil Liberties Law Review; Harvard International Law Journal Member, La Alianza

University of Cambridge, Corpus Christi College, LL.M. June 2012

Princeton University, A.B. in , summa cum laude June 2008 Graduated first in Sociology Department Isidore Brown Academic Achievement Award: highest four-year cumulative GPA of all Sociology concentrators Thesis: ethnography of taco trucks in post-Hurricane Katrina New Orleans conducted in Spanish and Portuguese

TEACHING AND RESEARCH INTERESTS

Primary: Contracts; Business Associations; Corporate Finance; Securities Regulation; Health Law

Secondary: Food Law; Corporate Governance; Entrepreneurship, Technology and the Law; Tech and Health Venture Capital; Corporate Social Responsibility

WORKS IN PROGRESS

Beyond Profit, 54 U.C. DAVIS LAW REVIEW (forthcoming 2021):

Etsy was a crown jewel of socially responsible businesses. It prioritized female entrepreneurship, its employees, and environmental stewardship. But after scaling up through an IPO, Etsy fell apart both socially and financially, despite its best attempts to preserve its objectives beyond profit through private ordering. Similar stories proliferate in the world of socially conscious business. Standard accounts point to market forces as the culprits. But this paper identifies a more fundamental problem: business law is not designed to facilitate scale-ups for companies that articulate objectives beyond profit. It lacks a durable commitment

1 mechanism for these companies to bind themselves to long-term pursuit of their multiple objectives. To help address this problem, the paper identifies potential solutions in corporate governance and corporate finance, and ultimately proposes providing a voluntary commitment mechanism in business law. The proposed commitment mechanism would require multiple stakeholder board representation and socially conscious executive compensation for public benefit corporations that IPO, get acquired, or exceed a certain size. Such legislation could better enable companies to bind themselves to their objectives beyond profit at scale— facilitating large-scale social impact instead of just large-scale profit.

Social Purpose Startup Success:

To realize their potential for social and economic impact, companies that pursue objectives beyond profit must first survive as early-stage startups—a notoriously difficult phase with failure rates estimated as high as ninety-five percent. These startups must navigate all of the significant challenges and risks facing regular startups, while also juggling social purpose and profit objectives that are often in tension with each other. In particular, it is little understood how an early-stage startup with objectives beyond profit can successfully manage their competing multiple objectives, and whether and how it engages with benefit corporation law and B-Corp certification—the two primary legal (or quasi-legal) tools designed to serve companies with objectives beyond profit—in this process. To address these questions, this paper uses in-depth qualitative research methods conducted over one year embedded at an early-stage startup with objectives beyond profit. It finds that this startup faces two primary categories of challenges to organizational survival, in corporate governance and corporate finance. The startup overcomes the corporate governance challenges by implementing practices of organizational democracy, and the corporate finance challenges by using a practice of savvy codeswitching to garner organizational legitimacy with each key stakeholder needed to secure resources for survival. Perhaps surprisingly, the startup does not engage with either benefit corporation law or B-Corp certification in this process. Amending benefit corporation law to leverage elements of organizational democracy could help better systemically address the corporate governance challenges faced. But the corporate finance challenges this startup faces seem to expose deeper underlying structural tensions that exist among financing, exit strategy, and the pursuit of multiple objectives. Addressing these structural tensions will require more than amending benefit corporation law, and suggest the need for new frameworks in corporate finance to better serve these startups specifically.

PUBLICATIONS

Placing Humans at the Core of Our Economy: Worker Well-Being, Organizational Democracy, and the Pursuit of Multiple Objectives, in HANDBOOK ON THE BUSINESS OF SUSTAINABILITY: THE ORGANIZATION, IMPLEMENTATION, AND PRACTICE OF SUSTAINABLE GROWTH (forthcoming 2021) (with Julie Battilana and Julie Yen) (peer reviewed)

What Role Should the Commercial Food System Play in Promoting Health through Better Diet?, BRITISH MEDICAL JOURNAL 368:m545 (2020) (with Martin White et al) (peer reviewed)

Contagion without Relief: Democratic Experimentalism and Regulating the Use of Antibiotics in Food-Producing Animals 64 UCLA LAW REVIEW 550 (2017)

An International Model for Antibiotics Regulation 72 FOOD & DRUG LAW JOURNAL 295 (2017) (peer reviewed)

Sickeningly Sweet: Analysis and Solutions for Adverse Dietary Consequences of European Agricultural Law, 11 JOURNAL OF FOOD LAW & POLICY 252 (2015)

Liberalising Agricultural Policy for Sugar in Europe Risks Damaging Public Health, BRITISH MEDICAL JOURNAL 351:h5085 (2015) (with Oliver Mytton and Pablo Monsivais) (peer reviewed)

The Importance of the Right to Food for Achieving Global Health, 9 GLOBAL HEALTH GOVERNANCE 164 (2015) (peer reviewed)

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TEACHING EXPERIENCE

University of Chicago Law School Corporate Law and Dual-Purpose Organizations (overall evaluation: 5/5)* Spring 2020 Food Law (co-taught with Omri Ben-Shahar) Spring 2020

UCLA School of Law Companies, Food Systems, and Public Health Law (overall evaluation: 8.64/9)* Spring 2017 Modes of Legal Inquiry: Food Fraud (co-taught with Michael Roberts) Spring 2016 Introduction to Food Law and Policy (assisted Michael Roberts) Fall 2015

Harvard Business School Power and Influence, MBA Course (Teaching Fellow for Julie Battilana) Fall 2018

Harvard College American Health Care Policy (Teaching Fellow for Michael Chernew) (overall eval: 4.6/5)* Spring 2019

*Teaching evaluations available

ACADEMIC POSITIONS AND FELLOWSHIPS

UCLA School of Law October 2015–July 2017 Resnick Center for Food Law & Policy Academic Fellow

University of Cambridge July 2013–October 2015 MRC Epidemiology Unit, Centre for Diet & Activity Research (CEDAR) Postdoctoral Research Associate Funding awarded:  Isaac Newton Trust Grant, from University of Cambridge (2015)  Fulbright Schuman Award, from US State Department and the European Union (2013–14)  Frank Knox Memorial Traveling Fellowship, from (2013–14)

PRESENTATIONS

Invited Talks “Beyond Profit,” Faculty Workshop, Saint Louis University School of Law, November 2020.

“Big Myths and the Radicalization of Corporate Forms: Comparing US For-Profit and Nonprofit Experiences” (with Lauren Taylor), Work, Organizations, and Markets Seminar, Harvard Business School and Harvard Sociology Department, December 2018.

“Food Innovation and the Law: Navigating the Next Frontier,” Harvard-UCLA Food Law & Policy Conference, , October 2017.

“Novel Perspectives on Potential Harms of Sugar Liberalisation,” UK Clinical Research Collaboration Public Health Centres of Excellence Annual Conference: Progress and Pathways, Royal College of Physicians, London, June 2017.

Expert Roundtable on Added/Free Sugar Consumption, UCLA Center for Research, May 2017.

“Local Impacts of a Global Food System,” Cambridge Global Food Security Initiative, University of Cambridge, December 2016.

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“Global Food Security,” Masters in International Security Studies, Sant'Anna School of Advanced Studies (Scuola Superiore Sant'Anna), Pisa, Italy, November 2016.

“Food Marketing to Children and the First Amendment,” Introduction to Food Law and Policy course, UCLA School of Law, October 2016.

“Public Health Law,” Harvard & Drake Law Schools Food Law Student Leadership Summit, Des Moines, Iowa, October 2016.

“Antibiotics Laws, Democratic Experimentalism, and Federalism,” Introduction to Food Law and Policy course, UCLA School of Law, September 2016.

“The Unintended Consequences for Health of 50 Years of the European Common Agricultural Policy,” Bocconi University Seminar Series, Milan, Italy, May 2016.

“Links between Health Outcomes and European Agricultural Law and Policy,” Università degli Studi Mediterranea, Reggio Calabria, Italy, April 2016.

“The Unintended Consequences for Health of 50 years of Common Agricultural Policy in Europe,” Università degli Studi della Tuscia, Viterbo, Italy, April 2016.

“A CAP on Health? The impacts of EU Common Agricultural Policy on Obesity and Diet,” MRC Epidemiology Unit, University of Cambridge, UK, March 2014.

“Innovation and Compliance: Proposing Effective and Legal Food Policy Solutions to Obesity in the United Kingdom,” US-UK Fulbright Conference, Durham University, UK, January 2014.

Conference Presentations “Business Law’s Dual-Objective Dilemma,” Examining Corporate Purpose, National Business Law Scholars Conference, University of Tennessee (virtual), June 2020.

“An Organizational and Legal Theory of Corporate Purpose,” Hybridity in Social Entrepreneurship, Social Entrepreneurship Conference, Indiana University, Bloomington, Indiana, November 2019.

“Your Purpose is Drifting: Acquisitions of Dual-Purpose Organizations In The Healthy Food Sector,” Emerging Issues in Mergers, Acquisitions, and Corporate Representation, Law and Society, Washington, DC, June 2019.

“Your Mission is Drifting: Hybrid Organizations and Acquisitions in the Food Sector—A Legal Perspective,” Stakeholders, Trust and Corporate Governance, Law and Society, Toronto, June 2018.

“Your Mission is Drifting: Hybrid Organizations and Acquisitions in the Food Sector—A Management Perspective,” Baruch College Symposium, New York, New York, April 2018.

“Connecting the Dots: Linking Food Systems, Obesity, Stress, and Food Insecurity Locally and Globally,” 11th Annual UCSF Sugar, Stress, Environment and Weight Symposium, UCLA School of Law, October 2017.

“An International Democratic Experimentalist Approach to Regulating Antibiotics Use,” Food and Drug Law Journal Symposium, Law Center, November 2016.

“Science and Food Marketing to Children,” UCLA-Harvard Law School Food Law & Policy Conference, UCLA School of Law, October 2016.

“The Common Agricultural Policy Sugar Regime Effects on Diet and Health in 20th Century Europe,” Food and Nutrition in 19c and 20c Europe Conference, University of Sussex, Brighton, UK, May 2016.

“Food Consumption in the Shadow of the Law,” Food Equity Symposium, UC Irvine, March 2016.

“The Roles of Sugar, EU Laws, and Policy Interventions in Poor Diet and Obesity Prevalence in the UK,” UKCRC Public Health Research Centres of Excellence Conference, Leeds, UK, June 2014 (poster).

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“Why Obesity? A Sociological and Legal Justification for Addressing Obesity in the UK,” British Sociological Association Food and Society Conference, British Library, London, UK, June 2014.

“Common Agricultural Fallacy?: Analysing the Structural Obesogenic Effects of EU Agricultural Law,” Early Career Researchers Symposium, Public Health at Cambridge Showcase, Cambridge, UK, May 2014.

HONORS & AWARDS

Certificate of Distinction in Teaching Award, 2019 UC Berkeley Fellowship for Graduate Study (University award for top admitted doctoral students) (declined) 2017 The PhD Project: program for minority candidates pursuing doctoral degrees in business 2016 30 Under 30 Award: University of California Global Food Initiative 2016 Isaac Newton Trust Grant: Postdoctoral Grant from University of Cambridge 2015 Charles Slater Fund Award: Small Grant from University of Cambridge School of Biological Sciences 2015 Non-Stipendiary Research Associate, Corpus Christi College, University of Cambridge 2013–2015 Fulbright Schuman Scholar to the European Union (University of Cambridge) 2013–2014 Frank Knox Memorial Traveling Fellowship: Research Grant from Harvard University 2013–2014 Cambridge University Women’s Varsity (Blues) Soccer: Cambridge University Women’s Team of the Year 2013–2014 Cambridge University Women’s Varsity (Blues) Lacrosse: Undefeated 2012 UK National Champions 2011–2012 Princeton in Latin America Fellowship, Barahona, Dominican Republic 2008–2009 Isidore Brown Academic Achievement Award () 2008

BAR ADMISSION

Admitted, State Bar of California 2014

EDITORIAL POSITIONS & SERVICE

Executive Board, AALS Section on Agricultural & Food Law 2019–2020 Founding Member, Academy of Food Law and Policy 2015–2016 Associate Editor, The Italian Law Journal, Naples, Italy 2015–2018 Peer Reviewer, The British Medical Journal 2014–2016 Peer Reviewer, Frontiers in Psychology 2014–2016

ADDITIONAL SKILLS

Language Spanish: Fluent. Portuguese, French, Italian: Intermediate

Data Analysis R, Stata

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REFERENCES

Omri Ben-Shahar Leo and Eileen Herzel Professor of Law PhD References: University of Chicago Law School 1111 E. 60th Street, Room 518 Julie Battilana Chicago, IL 60637 Joseph C. Wilson Professor of Business [email protected] Administration | Harvard Business School, and 773-702-9494 Alan L. Gleitsman Professor of Social Innovation | Harvard School Lisa Bernstein Morgan Hall T43 Wilson-Dickinson Professor of Law Soldiers Field Park University of Chicago Law School Boston, MA 02163 1111 E. 60th Street, Room 623 [email protected] Chicago, IL 60637 617-495-6113 [email protected] 773-834-2881 Robin Ely Diane Doerge Wilson Professor of Business Anthony Casey Administration Professor of Law Harvard Business School University of Chicago Law School Morgan Hall 341 1111 E. 60th Street, Room 407 Soldiers Field Park Chicago, IL 60637 Boston, MA 02163 [email protected] [email protected] 773-702-9578 (617) 495-6442

Jacob Gersen Herman “Dutch” Leonard Sidley Austin Professor of Law Eliot I. Snider and Family Professor of Business Harvard Law School Administration | Harvard Business School, and 1563 Ave George F. Baker, Jr. Professor of Public Cambridge, MA 02138 Management | [email protected] Morgan Hall 135 617-495-1414 Soldiers Field Road Boston, MA 02163 William Hubbard [email protected] Professor of Law 617-495-1117 University of Chicago Law School 1111 E. 60th Street, Room 417 Chicago, IL 60637 [email protected] 773-834-8999

Jonathan Masur John P. Wilson Professor of Law University of Chicago Law School 1111 E. 60th Street, Room 405 Chicago, IL 60637 [email protected] 773-702-5188

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