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

Resolution A (BE-111; FIBOBE-_11)

Dependency: None  (can be done on the original pink)

...

  • 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

...

*** Draft resolution document, with revisions as stated above, has been posted to JIRA issue BE-111, along with the relevant OWL and model files

 

Resolution B  (Removed) / Resolved

Dependency: None

Title: Juridical Person

Rationale:   see (2) (4) (6)

In LegalPerson.rdf,

change JuridicalPerson from a subclass of LegalEntity to a subclass of LegalPerson

Remove JuridicalPerson subclassof FormalOrganization (4)

Add subclassof restriction on property &fibo-be-le-lp;isLegallyDefinedIn some \[hasReach some GeopoliticalEntity\]   (2)

Add disjointwith &fibo-fnd-aap-ppl;LegallyCapablePerson (6)

 

Resolution C (BE-112; FIBOBE-_12)

Dependency: Resolution A

Title: "The class name and definition of GeneralStockCorporation is jurisdiction-specific and not sufficiently broad for banking requirements"

...

  • 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

...

fibo-fnd-pty-rl:isPlayedBy some ((fibo-be-oac-cpty:holdsSomeMeansOf only fibo-be-oac-cpty:EquityBasedDeJureControl)
or (fibo-be-oac-opty:holdsAnInterestIn only fibo-be-le-cb:StockCorporation))

Resolution D (BE-96; FIBOBE-_9)

Title: The Legal Persons ontology is missing the concept of a Business Entity

...

  • add class BusinessLicense as a subClassOf License
  • add label "business license"
  • add skos:definition: "a license that allows the holder to conduct business or carry out a specific profession within some jurisdiction for some period of time" 
  • add adaptedFrom: Barron's Dictionary of Business and Economics Terms, Fifth Edition, 2012
  • add restriction: fibo-fnd-rel-rel:appliesTo exactly 1 BusinessEntity
  • add restriction: isRecognizedIn some Jurisdiction
  • add restriction: fibo-fnd-dt-bd:holdsDuring exactly 1 DatePeriod

Resolution E - Provide Expressions to Describe Liabilities of Business Entities (

...

Priority)

 

Depends on (D) because it refers to BusinessEntity

...

  • for class PrivateCompanyWithLimitedLiability:
  • import OwnershipParties.rdf
  • add restriction: allowsLimitedLiabilityOn only (playsRole some EntityOwner)
  • add restriction: allowsUnlimitedLiabilityOnEntity only PrivateCompanyWithLimitedLiability


RESOLUTION F - Make corrections to incorrect restrictions that depended on 'holds an interest in' property  (BE-113; FIBOBE-_21) (priority)  

Summary: Multiple restrictions that used the property holdsAnInterestIn were identified to be incorrect,  Many of the classes that these incorrect restrictions defined had nothing to do with ownership, but rather to control.  The property holdsAnInterestIn is a subproperty of owns and therefore implies holds an ownership interest in.  In other cases we can also remove the restriction containing holdsAnInterestIn when it is accompanied by a restriction that states there is some equity held, since equity already points back to the formal organization via the representsAnInterestIn relation.  These changes will result in corrections and simplification.

...

  • revise the rdfs:label from "entity owning party" to "entity owner"

 

  • For InvestmentEquity change restriction from: isEquityHeldBy min 1 Investor to isEquityHeldBy some Investor

 

  • For Investor change restriction from:

isPlayedBy some

...

isPlayedBy some (holdsEquityIn only InvestmentEquity)

 

  • For InvestorContract change restriction from: definesTermsFor min 1 InvestorContract to definesTermsFor some InvestorContract

 

  • Make miscellaneous punctuation changes to annotations to bring the VOM model and OWL in sync. This includes removing a duplicated skos:definition from ControllingEquity.

...

D  In module CorporateControl

  • Add an owl:imports and related namespace declarations for the Legal Persons ontology

  • For VotingShareholder change restriction from:

...

remove the domain Partner which is a relative thing  and instead allow it to inherit IndependentParty as the domain of owns


Resolution G  (Defer) / Done via Government Entities

Move SupraNationalEntity from LEIEntities to LegalPersons


LEIEntities (33)

LegalPersons (4)

 

Resolution H  (Defer)

Remove jurisdiction-specific distinctions from Corporate Forms

CorporateBodies.rdf (54) (58) (59)

Partnership.rdf (86) (87)

Resolution I  (Maybe) / Decided not to do

Rename FormallyConsitutedOrganization to ContractuallyConstitutedOrganization

 

Resolution J - Introduce Sole Proprietorships  (Yes – BE-64; BE-29; FIBOBE-_16)

Description: Create Sole Proprietorships directory and file

...

  • Add owl:imports SoleProprietoryships

Resolution K - Introduce Government Entities (Yes/Discretionary)

Description: Create Government Entities directory and file

...

 

D. In module LEIEntities

  • add class SupranationalEntity as a subClassOf Polity
  • add label: "supranational entity"
  • add skos:definition:  "a type of multinational political union where negotiated power is delegated to an authority by governments of member states"
  • add adaptedFrom: "Kiljunen, Kimmo (2004). The European Constitution in the Making. Centre for European Policy Studies. pp. 21–26. ISBN 978-92-9079-493-6"
  • add explanatoryNote: "A supranational union is a supranational polity which lies somewhere between a confederation that is an association of States and a federation that is a state. Unlike states in a federal super-state, member states retain ultimate sovereignty, although some sovereignty is shared with, or ceded to, the supranational body."
  • add restriction: hasSharedSovereigntyOver min 2 Country
  • add restriction: isRepresentedBy some GovernmentalEntity

 

D. In module LEIEntities

remove Sovereign (this will be replaced by Polity in GovernmentEntities)

remove MuncipalEntity  (this will be replaced by MunicipalEntity in GovernmentEntities)

remove SuparanationalEntity (this will be replaced by SupranationalEntity in GovernmentEntities)

 

E  AboutBE-1.0 Add import

 

 

Resolution L - Introduce Private Limited Companies  (Yes; FIBOBE-_19)

Description: Create Private Limited Companies directory and file

...

  • add rdfs:label "FIBO BE private limited companies module"
  • add skos:definition "individual representing metadata about the FIBO BE private limited companies module"^^xsd:string
  • add sm:moduleName "Private limited companies"^^xsd:string
  • add sm:moduleAbbreviation "fibo-be-plc"^^xsd:string
  • add sm:moduleVersion "1.0"^^xsd:string
  • add sm:moduleAbstract "This module includes ontologies describing business entities representing private limited companies -- i.e., a hybrid business entity having certain characteristics of both a corporation and a partnership or sole proprietorship."^^xsd:string
  • add fibo-fnd-rel-rel:isPartOf fibo-be:BESpecification
  • add fibo-fnd-utl-av:usageNote "Users should be aware that the BE Functional Entities ontologies depend on a number of the ontologies specified in the EDMC-FIBO Foundations (FND) specification. Individual ontologies in this module import only those FIBO FND ontologies they use directly, however."^^xsd:string
  • add rdfs:seeAlso <http://www.edmcouncil.org/>
  • add rdfs:seeAlso <http://www.omg.org/spec/EDMC-FIBO/AboutTheEDMC-FIBOFamily/>
  • add rdfs:seeAlso <http://www.omg.org/spec/EDMC-FIBO/BE/AboutBE/>

I. In ontology AboutBE-1.0

  • Add owl:imports PrivateLimitedCompanies

 

Resolution M - Reclassify SupranationalEntity

 

Resolution N - Remove Affiliate

 

Resolution O - Remove  unnecessary restrictions in Stock Corporation

 

...

I. In ontology AboutBE-1.0

  • Add owl:imports PrivateLimitedCompanies

Resolution P - Create LEIEligibleEntity and LEIRegisteredEntity (Mandatory) (done)

                          LEIEligibleEntity becomes a subClass of AutonomousAgent and  isIdentifiedBy exactly 1 LegalEntityIdentifier

                                  Fill in all metadata from line 30 on LEIEligibleEntity 

                                   Move LEICapableEntity to the LEIEntities module (and namespace)

                                  Remove ContractrallyCapableEntity entirely

                                  Remove  (Deprecate) LegalEntity 

 

Resolution R - Change FormallyConstituedOrganization to ContractuallyConstitutedOrganization (Discretionary)  - FCT determined that this was not worth doing (closed)


Resolution X - Deprecate OrganizationIndustrySectorClassification (done)


Resolution Y - Introduce additional capacities to Legal Person for greater clarity and completeness of concept