Versions Compared

Version Old Version 149 New Version 150
Changes made by

Elisa Kendall

Dean Allemang

Saved on

Key

  • This line was added.
  • This line was removed.
  • Formatting was changed.

Cross-referenced to actions listed on Actions for BE 1.0 FTF Completion for Reston OMG

...

  • with a skos:definition of "a not for profit organization that is a citizen-based group that functions independently of government"
  • with a fibo-fnd-utl-av:explanatoryNote of "NGOs are neither a part of a government nor a conventional for-profit business.  Usually set up by ordinary citizens, NGOs may be funded by governments, foundations, businesses, or private persons."
  • with a fibo-fnd-utl-av:explanatoryNote of "NGOs, sometimes called civil societies, are organized on community, national and international levels to serve specific social or political purposes, and are cooperative, rather than commercial, in nature."
  • with a fibo-fnd-utl-av:explanatoryNote of "Some NGOs avoid formal funding altogether and are run primarily by volunteers. NGOs are highly diverse groups of organizations engaged in a wide range of activities, and take different forms in different parts of the world. Some may have charitable status, while others may be registered for tax exemption based on recognition of social purposes. Others may be fronts for political, religious, or other interests."
  • with a restriction that constrains the organization's objective to be an rdfs:subClassOf fibo-be-le-lp:hasObjective some fibo-be-le-lp:PublicPurpose

...

  • with a skos:definition of "a not for profit organization whose objective is specific to some fundamental set of beliefs and practices generally agreed upon by a number of people, and that is incorporated under the law"
  • with a fibo-fnd-utl-av:explanatoryNote of "Often religious corporations are recognized under the law on a sub-national level, for instance by a state or provincial government. The government agency responsible for regulating such corporations is usually the official holder of records, for instance a state department of corporations."
  • with a restriction that constrains the organization's objective to be an rdfs:subClassOf fibo-be-le-lp:hasObjective some fibo-be-le-lp:ReligiousObjective

...

  • with a skos:definition of "a corporation whose objective is to make money, in other words, to ensure realization of a financial benefit such that the amount of revenue gained from a business activity exceeds the expenses, costs and taxes needed to sustain that activity"
  • with a restriction that constrains the organization's objective to be an rdfs:subClassOf fibo-be-le-lp:hasObjective some fibo-be-le-lp:ProfitObjective
  • with a constraint that ForProfitCorporation is disjoint with NotForProfitCorporation

...

  • add class LimitedLiability as a subClassOf LiabilityCapacity
  • add label: "limited liability"
  • add definition: "a type of liability that does not exceed the amount invested in a partnership or limited liability company."
  • add definitionOrigin: http://www.investopedia.com/terms/l/limitedliability.asp
  • add explanatoryNote: "In a partnership, the limited partners have limited liability, while the general partner has unlimited liability. The limited liability feature protects the investor's or partner's personal assets from the risk of being seized to satisfy creditor claims in the event of the company's or partnership's insolvency."
  • add explanatoryNote: "The limited liability feature is one of the biggest advantages of investing in publicly listed companies. While a shareholder can participate wholly in the growth of a company, his or her liability is restricted to the amount of the investment in the company, even if it subsequently goes bankrupt and racks up millions or billions in liabilities."

  • add class UnlimitedLiability as a subClassOf LiabilityCapacity
  • add label: "unlimited liability"
  • add skos:definition: "full liability for the debt and other obligations of a legal entity."
  • add definitionOrigin: "http://financial-dictionary.thefreedictionary.com/Unlimited+Liability"
  • add explanatoryNote: "For corporations, partnerships, limited liability companies, trusts and other juridical persons, the assets of the entity itself may be subject to unlimited liability; while the shareholders and or owners may be subject to limited liability depending upon the terms of the agreement that formed the entity."
  • add explanatoryNote: "For general partners and sole proprietors unlimited liability is not capped at a maximum amount and exists regardless of the amount of investment each owner has personally made. If the business is unable to meet any financial obligations or settle any outstanding liabilities, the owner's personal assets can be seized to satisfy the debts."

...

  • add class Shareholder as subClassOf fibo-fnd-agr-ctr:TransferableContractHolder
  • add label "shareholder" to Shareholder
  • add skos:definition: "an individual, group, or organization that owns one or more shares in a company, and in whose name the share certificate is issued."
  • add explanatoryNote:  "It is legal for a company to have only one shareholder. Also called (in the US) stockholder."
  • add definitionOrigin: "http://www.businessdictionary.com/definition/shareholder.html"
  • add ProfitCorporationWithLimitedShareholderLiability as a subClassOf StockCorporation
  • add ProfitCorporationWithLimitedShareholderLiability as a subClassOf ForProfitCorporation
  • add label: "profit corporation with limited shareholder liability"
  • add restriction: fibo-be-le-lp:allowsLimitedLiabilityOn only (fibo-fnd-pty-rl:playsRole some fibo-be-le-cb:Shareholder)
  • add adaptedFrom: http://biztaxlaw.about.com/od/glossarys/g/stockcorp.htm
  • add adaptedFrom: http://www.oecd.org/daf/ca/CorporateGovernanceFactbook.pdf
  • add skos:definition: "a for-profit corporation which has shareholders (stockholders), each of whom receives a portion of the ownership of the corporation through shares of stock"
  • add explanatoryNote: "The restrictions defined herein extend the definition of incorporated company to link it to external entities that hold shares in it."
  • add explanatoryNote: "The shares in a stock corporation may receive a return on their investment in the form of dividends. Shares are used for voting on matters of corporate policy or to elect directors, at the corporation's annual meeting and at other meetings of the corporation."

  • Add Corporation subClassOf  BusinessEntity
  • add restriction: fibo-be-le-lp:allowsUnlimitedLiabilityOnEntity only fibo-be-le-cb:Corporation . 

  • add ProfitCorporationWithUnlimitedShareholderLiability as a subClassOf StockCorporation 
  • add ProfitCorporationWithUnlimitedShareholderLiability as a subClassOf fibo-be-le-cb:ForProfitCorporation
  • add label: "profit corporation with unlimited shareholder liability"
  • add skos:definition: "a corporation with unlimited liability for the shareholders."
  • add restriction: fibo-be-le-lp:allowsUnlimitedLiabilityOn only (fibo-fnd-pty-rl:playsRole some fibo-be-le-cb:Shareholder)
  • add skos:definitionOrigin: http://www.businessdictionary.com/definition/joint-stock-company.html

...

  • change name of NaturalPersonLimitedPartner to LegallyCapablePersonLimitedPartner
  • change label to "legally capable person limited partner"
  • change skos:definition to "a limited partner in a partnership, who is and may only be a LegallyCapable Person i.e. a human being."
  • change restriction from hasIdentity exactly 1 NaturalPerson to hasIdentity exactly 1 fibo-fnd-aap-ppl:LegallyCapablePerson

...

  • add LimitedLiabilityGeneralPartner as a subClassOf GeneralPartner
  • add label "limited liability general partner"
  • add restriction: fibo-fnd-pty-rl:isPlayedBy some (fibo-fnd-law-lcap:hasCapacity only fibo-be-le-lp:LimitedLiability)
  • add skos:definition: "a class of general partner who has limited liability per the terms of the limited liability limited partnership agreement"
  • add  disjoint with UnlimitedLiabilityGeneralPartner

  • remove LegallyIncorporatedPartnership 

  • add GeneralPartnership as a subClassOf PartnershipWithGeneralPartners
  • add label "general partnership"
  • add restriction: fibo-fnd-rel-rel:hasMember min 2 fibo-be-ptr-ptr:GeneralPartner
  • add skos:definition: "a partnership in which the partners are jointly and severally liable for liabilities incurred by the entity"
  • add adaptedFrom: http://www.investopedia.com/terms/g/generalpartnership.asp

  • delete LegallyIncorporatedPartnershipMember.

  • add restriction to LimitedPartner  fibo-fnd-pty-rl:isPlayedBy some (fibo-fnd-law-lcap:hasCapacity only fibo-be-le-lp:LimitedLiability)

  • add LimitedPartnership as a subClassOf PartnershipWithGeneralPartners and as a subClassOf PartnershipWithLimitedPartners
  • add label: "limited partnership"
  • add skos:definition: "a form of partnership similar to a general partnership, except that in addition to one or more general partners (GPs), there are one or more limited partners (LPs)."
  • add explanatoryNote: "It is a partnership in which only one partner is required to be a general partner."
  • add definitionOrigin: http://en.wikipedia.org/wiki/Limited_partnership

  • Remove NonIncorporatedPartnership as it is covered by other concepts

  • on class Partnership add restriction: fibo-be-le-lp:allowsUnlimitedLiabilityOn some fibo-be-ptr-ptr:Partnership 

  • change skos:definition to : "a business organization in which two or more individuals manage and operate the business."
  • add definitionOrigin: http://www.investopedia.com/terms/p/partnership.asp

  • delete class PartnershipIncorporatedByEquity

  • delete classPartnershipIncorporatedThroughAgreement

...

  • change name of PartnershipWithOnlyLimitedPartners to LimitedLiabilityPartnership
  • remove subClassOf Corporation
  • change label to "limited liability partnership"
  • add restriction: hasMember only LimitedPartner
  • change skos:definition: "a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities"
  • change adaptedFrom to: https://en.wikipedia.org/wiki/Limited_liability_partnership
  • change explanatoryNote to: "In an LLP, one partner is not responsible or liable for another partner's misconduct or negligence."

...

  • change name of class from PrivatelyHeldCompany to PrivatelyHeldCorporation
  • Make this a replace  subClassOf StockCorporation with subClassOf ProfitCorporationWithLimitedShareholderLiability
  • change label to "privately held corporation"
  • change synonym to "privately held company"

...

  • change name of class from PubliclyHeldCompany to PubliclyHeldCorporation
  • Make this a replace subClassOf with ProfitCorporationWithLimitedShareholderLiability
  • change label to "publicly held corporation"
  • add synonym "publicly held company"
  • add owl:disjointWith   PrivatelyHeldCorporation

...