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More than 300 Hollywood elite, including Shonda Rhimes, Emma Stone and Reese Witherspoon, have joined forces for Time's Up, a new initiative aiming to fight sexual harassment and assault in the workplace.

Among the specific steps it announced, Time's Up has established a legal defense fund that, in just 12 days, has raised $13.4 million toward a $15 million goal aimed at providing legal aid for women and men who were sexually harassed, assaulted or abused in the workplace.

"TIME'S UP is a unified call for change from women in entertainment for women everywhere".

Yet another goal is for major Hollywood studios and talent agencies to reach gender parity - "time's up on this impenetrable monopoly", the letter reads.

Along with helping victims, the campaign calls for more women in positions of leadership and power across industries. The group rapidly expanded and now includes meetings and workshops for participants in NY and London.

The initiative was launched with an open letter vowing support for women in the entertainment business and beyond, from janitors to healthcare workers.

Backing legislation to penalise companies which tolerate harassment or participate in the cover-up of systemic sexual misconduct.

A request that women walking the red carpet at the Golden Globes wear black to raise awareness for the issue. "This is a moment of solidarity, not a fashion moment", Longoria, who rose to fame in Desperate Housewives, told the paper. "This time the industry can't expect us to go up and twirl around".

The initiative, dubbed Time's Up, caps a year in which the Harvey Weinstein sexual misconduct scandal touched off a deluge of allegations that brought down powerful men in entertainment, politics and the media, prompting companies, government agencies and even the U.S. federal court system to re-examine harassment policies.

"We have been siloed off from each other", Reese Witherspoon said. "We're finally hearing each other, and seeing each other, and now locking arms in solidarity with each other, and in solidarity for every woman who doesn't feel seen, to be finally heard". It will be housed and administrated by the National Women's Law Center, and now has more than $13 million in donations.