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The principal liability faced is probably that of libel/ lawsuits.

To me an LLP is just a simple (and optimal, since it is entirely "open") legal wrapper for "pooling" risk and reward, but has the attraction that it can operate across borders better than anything else - a "Legal XML".

"Law is Code" / Semantic Web, yada yada.

An example of crossborder operation is a Microfinance Initiative I am working on (saw a Norwegian junior minister about it last week: it's all ready part-funded by Norway) where we are setting up "Trustee"/ Custodian entities in each jurisdiction, which will be members of a "Development Network" LLP (or - more comprehensibly to Joe Public) an "Ethical Equity/Stock Exchange".

The other members of this LLP are a "Club" of Investors; the "Club" of Users of Investment; and the "Operating Member" consortium.

No reason why ET LLP couldn't use a variation of what is IMHO an optimal generic structure.

ET "Founder"/ Trustee Member
ET User Club
ET Financier Club
ET Service Provider Club

With costs shared as may be agreed, a suitable "core" governance probably convening online etc etc I'm sure it's all been covered before, but I've forgotten what was said!

"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky

by ChrisCook (cojockathotmaildotcom) on Fri May 4th, 2007 at 05:56:20 AM EST
[ Parent ]
Not to toot my own horn, but see this discussion of the different kinds of ET "stakeholders".

Bush is a symptom, not the disease.
by Migeru (migeru at eurotrib dot com) on Fri May 4th, 2007 at 06:13:17 AM EST
[ Parent ]
THAT was the fella!

I might have known.

"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky

by ChrisCook (cojockathotmaildotcom) on Fri May 4th, 2007 at 06:31:43 AM EST
[ Parent ]
Toot away!  That was an excellent piece of work and I thank ye for it!

Don't fight forces, use them R. Buckminster Fuller.
by rg (leopold dot lepster at google mail dot com) on Fri May 4th, 2007 at 07:24:29 AM EST
[ Parent ]

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