Social enterprise ecoinomy provide winning formula for businesses

IT & IP solicitor, Lyndsay Gough, has been helping to launch ecoinomy, an innovative social enterprise with a compelling set of benefits for business customers: cutting costs whilst motivating staff, reducing CO2 emissions and supporting good causes.

It has also just been backed by Dragon's Den entrepreneur Deborah Meaden.

CEO Robert Colwell and John Grant, chief ecoinomist and author of The Green Marketing Manifesto (2007), joined forces about three years ago to explore the business opportunities arising from John's book and the idea behind ecoinomy was born.

Colwell and Grant have devised a system which enables businesses, large or small, to motivate their employees to cut costs by reducing waste and energy through giving some of the financial savings back to local community causes. The motivation to support a good cause helps to change behaviour and a further advantage to everyone concerned is the savings in C02 emissions.

The sophisticated software package which enables the finance department to track savings and staff to track charitable support has been developed in twoversions: eco.logic for SMEs with less than 250 employees and eco.system for large organisations.

Lyndsay Gough has been involved in setting up the various commercial agreements for the company, including client contracts licensing businesses to use ecoinomy's intellectual property rights, assisting with client negotiations, devising terms and conditions for the use of the company's website and advising on data protection and privacy issues, including those relating to employee data. "It's been a fascinating project, with many legal issues to be addressed", said Lyndsay.

"It is not just a win-win opportunity for companies" says Colwell. "As one CEO remarked recently - it is more of a win-win-win-win situation. A number of large organisations are already using the system which is giving us the statistical evidence needed to convince other businesses that it really is not too good to be true."

Colwell adds "We were really impressed by the fact that Lyndsay was building her own eco-friendly house which I believe she has now moved in to. So not only is she an incredibly good legal counsel but she also shares the same values as us."

For further information, eco.logic (for SMEs) and eco.system can be accessed via the web site, where you can download a free book containing numerous tips to make your business more environmentally friendly and save money.

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This article is for general information purposes only and does not constitute legal or professional advice. It should not be used as a substitute for legal advice relating to your particular circumstances. Please note that the law may have changed since the date of this article.

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