  The total cross sections of the process $e^+ e^-\to \Lambda_c^+
\bar{\Lambda}_c^-$ close to the threshold are calculated within the vector
meson dominance model. It is found that the theoretical results can describe
the current experimental measurements. In particular, the results for the
angular distribution parameters about the differential cross section are
consistent with the experiments from BESIII Collaboration. In addition, the
relative phase $\Delta \Phi$ of the electromagnetic form factors was given, and
the spin polarization of $\Lambda_c^+$ is predicted at center-mass energy $4.7
\ \rm GeV$. It is hopeful to provide a new perspective on the characteristics
of the charmed baryon $\Lambda_c^+$.
