I completely agree. The legal entity is just to put into writing what we all believe, then set a couple of options should "something" happen.

Jerome
______________
BLANKSPACES
"work wide open"

www.blankspaces.com
5405 Wilshire Blvd (2 blocks west of La Brea)
Los Angeles, CA 90036
323.330.9505 (office)

On Feb 24, 2010, at 5:08 PM, Mike Schinkel wrote:

On Feb 24, 2010, at 7:40 PM, David Troy wrote:
If we can't trust at least one community member to be a good steward to an asset like coworking.com, maybe we have bigger problems on our hands.

I wasn't going to say anything more on this issue but I believe the discussion continues to ignore key points so I'll say it again.

We all agree that we can trust Alex to be a good steward.  (Right?)

But what we can't trust Alex to do with 100% certainty is to not die and we can't trust him to not get sued into bankruptcy. This is what legal entities (like trusts) are for. Many here argue against it for presumed complication and presumed overhead but that as stated is a red herring as people have ignored the death/bankruptcy concern.

-Mike Schinkel
Ignition Alley Atlanta Coworking
http://ignitionalley.com


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