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One of the interesting qualities about what I like to call "Open" Capital ("nth's") and Credit (redeemable Units) is that the securing of supply may be entirely distinguished from the securing of price. So you can make a supply contract, and then pay for it either conventionally or by redeeming a Unit the supplier had issued previously, and which you had bought on the open market to secure price.

Another aspect is that ownership and control may also be distinguished in new ways. Unlike in a Corporation, where it's typically one share, one vote.

"Property" is not in fact, as most people think, an object. It is the relationship between the subject (individual, or collective of them) and the object (eg land). ie land is the object of a man's property, or something which is proper to the man.

This property relationship consists of a bundle of rights and obligations, and I believe that by packaging the whole relationship up within the legal concept of an open "Corporate" we may actually then share out these rights and obligations optimally in an extremely simple but effective "co-ownership" framework agreement.

Limited Liability is a red herring.

Indeed, if you bring all the stakeholders "inside the box" - as I did with a film - then there is really no need to limit your liability at all since the people you would be protecting yourself against are now all your partners....


"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Mon Mar 23rd, 2009 at 05:00:41 PM EST
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