List of BE Resolutions (Open)
- Elisa Kendall
Resolution H (Defer)
Remove jurisdiction-specific distinctions from Corporate Forms
CorporateBodies.rdf (54) (58) (59)
Partnership.rdf (86) (87)
Resolution M - Deprecate Affiliate (Discretionary)
Description: Remove affiliate
Rationale: In current release the restrictions defining affiliate are too limiting and require further analysis. Also affiliate is often defined differently according to different regulations. Our recommendation is to remove the class Affiliate from this release and further develop the concept in a future release that will support regulatory plugins e.g. RegulationW, et.al. However we can add the object property isAffiliateOf which can describe an assertion that an IndependentParty is an affiliate of another IndependentParty. This is a much more generic view of the affiliate relationship.
Resolution:
A. In module CorporateControl
- remove Class Affiliate
- remove object property hasAffiliate so that it can instead be replaced by a more symmetrically named property as well as a broader domain than StockCorporation
B. In module ControlParties
- add object property isAffiliateOf
- add label: "is affiliate of"
- add skos:definition: "relates an independent party to another independent party such that one party directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under common control by the other party"
- add adaptedFrom: http://www.businessdictionary.com/definition/affiliate.html
- add editorialNote: "This definition will expand and become more precise in FIBO regulatory plugins that can more specifically define the relation in terms of the specific language and intent of the regulation, e.g. RegulationW."
- set property domain to be IndependentParty
- set property range to be IndependentParty
- set property characteristic to be symmetric
Resolution N - Remove certain restrictions in Stock Corporation (Discretionary)
Description: Remove certain restrictions in Stock Corporation
Rationale: There are several restrictions associated with a StockCorporation that are descriptive but may not be necessary. We want to reevaluate these restrictions. Our recommendation is to remove the below listed restrictions for this release. A subsequent release will refocus on ownership and control relations and may recommend new restrictions at that time.
Resolution:
A. In module CorporateControl
- for class StockCorporation:
- remove restriction hasControllingInterestParty min 0 VotingShareholder
- remove restriction hasMajorityControllingInterestParty min 0 OverFiftyPercentControllingInterestCompany
- remove restriction hasSignificantControllingInterestParty min 0 SignificantShareholdingCompany
- remove restriction isWhollyOwnedBy min 0 TotalControllingInterestCompany
Resolution O - Replace Natural Person with LegallyCapablePerson (Mandatory)
Also, implement Row 2 from the Actions
Resolution Q - Realign hasObjective to hasGoal for BusinessEntities (Highly Discretionary)
Resolution S - Introduce Jurisdictional Plugins to Define Unique Jurisdictions for Specific Legal Forms in US and UK (Mandatory) David
Resolution T - Introduce Business Entity to Group Legal Forms that are Companies
Note: Business Entity has been added but no additional grouping has been done as of 3/8/2018