On Jun 3, 2007, at 6:20 PM, Benjamin Goertzel wrote:
So you are going to make a special set of corporate bylaws that
disentangle shares from control?
Hmmm...
Something like: the initial "trustworthy owners" are given
temporary trusteeship over the shares, but are then bound to
distribute them according to the wishes of the AGI once the AGI
passes some threshold level of intelligence??
Disentangling shares from control in a way that is actually
bulletproof and/or legally viable is difficult and relatively
expensive. The laws and regulations are generally written
specifically to make that a pain for anything resembling a for-profit
entity. It requires a high degree of trust between multiple parties
to make it fly without having an unambiguous controlling financial
interest.
One State in the United States (all corporate law is state law for
most purposes) explicitly allows the creation of non-economic
interests in limited liability constructs: Nevada. As far as I know
it is unique to that State, but it allows one to completely separate
control from equity. This only applies to LLCs rather than
Corporations out of practical necessity, I believe due to securities
regulations, but it allows 100% of the control to be granted to a
party that has no financial interest in the organization and which
has no obligations and receives no profits. It is obvious this class
of entity was designed to allow the creation of a controlling
interest that lacks de facto exposure because the mechanism of
control has no intrinsic financial value, unlike control that is tied
to equity of some type.
Incidentally, control of equity must ultimately resolve to a Natural
Person. Your AGI will have no legal ownership of anything. But I
guess you can worry about that later...
Cheers,
J. Andrew Rogers
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