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CoMakery / dynamic-royalty-license

STATUS: EARLY DRAFT - A license to maximize open innovation and collaborative peer production through royalty sharing tokens.
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Founders agreement rules for conversion into an LLC, C Corp, Coop, or Non-Profit #6

Open aquabu opened 8 years ago

aquabu commented 8 years ago

In some cases this may be a temporary agreement. This case should be covered in the agreement or at least thought out.

aquabu commented 8 years ago

@jesseposner what do you think of this one? Doable?

jesseposner commented 8 years ago

There are already a few pathways to conversion with the current structure.

1. Conversion of a Core Contributor

If any of the core contributors are individuals, they could form a legal entity and transfer their rights under the governance and license agreements to that legal entity.

We could streamline this process under the governance agreement by allowing the name of the core contributor to be changed to the legal entity if a core contributor transfers their rights under the governance agreement to that legal entity.

2. Consolidation of Core Contributors

The project can begin with a single core contributor, which is itself a legal entity, or if the core contributors agree to consolidate governance in a single legal entity, they can form that entity and vote to add the entity as a core contributor and then remove the remaining core contributors.