Legal entity

Since we talked about this in the last two weekly calls, I have made more progress about the question of the legal entity to host the organization’s servers, as well as any other assets that are not purely digital and/or cannot be held in the Kredits contracts.

A call with NLnet confirmed that setting up a foundation in the Netherlands is indeed a great choice, and very easy to do, with not a lot of overhead in general. They can help us with that, too.

Here’s some more information about the process of setting up a foundation in NL:

Furthermore, for domain names, trademarks, and other such assets, it would make sense to hold those in something like their Commons Conservancy, which will split the responsibilities and risk between something neutral controlling the intangible assets, and an operational entity (the Kosmos foundation), that is appointed by the co-operative to run the infrastructure.

In this scenario, the infrastructure provider can be switched much more easily, while the intangibles are held in an entity that has been created with the goal to last a very long time, and that we don’t have to spend resources on.

@Core I think we should go ahead with creating the foundation soon, so that this basic building block is solved and available for us to build a service provider upon. WDYT?

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This all sounds great to me, I like the idea of using the Commons Conservancy, as I understand it - it’s sort of a template where most of the legal work is already done, correct?

Yes, exactly. And also, it is much more neutral than anything we could set up ourselves. So the operational entity would only be responsible for running the servers (as long as it is appointed to do so) and taking responsibility for that, but not much else.

Sounds all good to me. I also like the Commons Conservancy idea. I haven’t read everything on their website completely yet, but so far it all looks pretty suitable for us.