This document discusses the challenge and risks of innovation in social entrepreneurship. It begins by stating that innovation is key for social enterprises but can also be in conflict with principles of consistency, equity and accountability. It then explores how social enterprises can balance innovation and these principles. The document discusses different conceptualizations of innovation and the ethical issues it can pose. It also examines how the choice of legal form can influence a social enterprise's ability to debate internal and external ethics when innovating. Throughout, it emphasizes framing problems collaboratively and avoiding overly narrow definitions that fail to consider all stakeholders and perspectives.