community interest company
- community interest company
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community interest company (CIC)
United Kingdom
A limited liability company designed for social enterprises which has the specific aim of providing benefit to a community and uses its income, assets and profits for the community it is formed to serve. It can be limited by shares or by guarantee but must satisfy a community interest test.
For further information see Practice note, Community interest companies: CICs (www.practicallaw.com/resource.do?item=:48829205).
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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