Every new economy startup hits the wall. Our legal system is set up to protect private property, not to enable commons based approaches. We still have to deal with the old world. How best to hack the legal system to support open companies and commons based approaches?
My take on an idea by Chris Cook called Nondominium. Chris uses this concept to manage a resource that is not ownable by definition (common resource of humanity, like space or ocean), or disputed territories, (like the Black Sea) - in order to exploit resources without needing to establish private property rights first. I have used this idea to define a hack of property to unbundle ownership rights, strip a few troublesome ones away and manage the rest with a liquid equity approach. Governance rights are also liquid.
A very dense document targeted to practitioners, my apologies.
It is possible to formulate contractual obligations so that computers can “understand” and make prima-facie compliance assessments with specified terms and cond
Kurt Laitner's insight:
nice to see contracts being broken out into clauses - not only are some clauses computable, all clauses are reusable if classified and marked up with tags. would like to see a clearing house for contractual terms. an approach very much to be emulated for open company legals
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