Difference between revisions of "FairShares Partnership Model Articles"
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Revision as of 12:52, 1 January 2018
FairShares Partnerships are new to FairShares V3.0. They provide for the incorporation of a limited liability partnership under Partnership Law. Partnerships are particularly useful for bringing together individuals or organisations that might not otherwise be able to form a FairShares Company, Cooperative or Association.
Partners are either 'designated' (responsible for handling the administration of the partnership and liaising with tax authorities on behalf of the partnership' or 'non-designated' (in which case they have governance rights similar to company / cooperative members, but are not directly responsible for the administration of the partnership).
In a FairShares Partnership, the 'designated' partners are permitted to draw private profits up to the value of the Founder Share of surplus.
The User Share and Labour Share of surplus are allocated by User and Labour members respectively, to meet the needs of their members and to advance the partnership's objects.
The Investor Share is allocated by the governing body to advance the objects of the partnership.
See Also:
