September 21, 2020, 09:43:02 AM

Author Topic: Help required from y'all experienced adults on in-book legal set-up  (Read 2010 times)

Offline K.B. Adams

Re: Help required from y'all experienced adults on in-book legal set-up
« Reply #15 on: May 12, 2017, 10:57:44 PM »
Sounds somewhat like an S-Corporation to me. Member numbers can be as low as one, so four is fine. Can be set up so voting is needed to make financial decisions. Except that S-Corps must only have members from the USA. So perhaps a C-Corporation which can have members from around the world. Though they can have unlimited members/shareholders, a limit of four might be fine if that's in their rules. They can further own or be owned by other entities, including financial trusts that might be funding them.

Offline Nora

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Re: Help required from y'all experienced adults on in-book legal set-up
« Reply #16 on: May 12, 2017, 11:18:19 PM »
Sounds somewhat like an S-Corporation to me. Member numbers can be as low as one, so four is fine. Can be set up so voting is needed to make financial decisions. Except that S-Corps must only have members from the USA. So perhaps a C-Corporation which can have members from around the world. Though they can have unlimited members/shareholders, a limit of four might be fine if that's in their rules. They can further own or be owned by other entities, including financial trusts that might be funding them.

Interesting, I had never heard about this.
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Offline Henry Dale

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Re: Help required from y'all experienced adults on in-book legal set-up
« Reply #17 on: May 13, 2017, 06:58:41 AM »
Sounds somewhat like an S-Corporation to me. Member numbers can be as low as one, so four is fine. Can be set up so voting is needed to make financial decisions. Except that S-Corps must only have members from the USA. So perhaps a C-Corporation which can have members from around the world. Though they can have unlimited members/shareholders, a limit of four might be fine if that's in their rules. They can further own or be owned by other entities, including financial trusts that might be funding them.

Interesting, I had never heard about this.

Every country has these in some form or another since they are regular enterprise forms. C-CORP and S-CORP are the American based varieties.

The two listed can be compared to the French Société à Responsabilité Limitée (SARL or EARL) and Société Anonyme (SA) respectively.

Offline Dan D Jones

Re: Help required from y'all experienced adults on in-book legal set-up
« Reply #18 on: May 14, 2017, 02:06:30 PM »
I don't think this should be viewed as a  monolithic organization.  I think you actually have two co-mingled but separate issues here.  The first is the group of Eyes.  The second is the organization which supports or backs them.  This would be something like the Slayers and the Watchers in the Buffyverse.  Obviously, you don't have to (and probably don't want to) pattern your organizations identically to Wheeden's.  You can have your supporting group be completely subservient without any attempt to exert control over the Eyes, if you wish, although I think they would need some level of autonomy to prevent a single Eye from having too much influence.  But that group, which controls the money, would likely be some sort of trust in terms of legal organization.

The Eyes, on the other hand, would likely NOT be part of the trust but would be supported by them.  They could call themselves whatever they like, or not have a name for themselves at all.  The choice of that, I think, would depend a great deal on the tone and voice of your work.