

Vermont OKs the Creation of Virtual Corporations - KB
http://gigaom.com/2008/06/17/vermont-oks-the-creation-of-virtual-corporations/

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admoin
Less significant than it sounds (and certainly the title of the blog post is
sort of linkbaity), but an encouraging sign nonetheless.

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ph0rque
I'm curious how much you have to pay for it (initially, yearly, and based on
revenues/profits).

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tstegart
I think most states have a yearly fee to be incorporated. They don't base it
on revenues or profit because thats what taxes are for :)

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pierrefar
Why "start filing virtual incorporation papers" instead of, oh I don't know,
email filing or online filing? Seems odd to stick to paper.

Unless it's a figure of speech...

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olefoo
I wonder what new forms of white collar crime this might make possible...

If you write software that creates virtual corporations that cause harm that
profits some other business entity you control can you be held liable?

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colinplamondon
Check out the book "Accelerando" by Charles Stross, he has a great section
about sentient corporations. Free to download, even:

<http://www.accelerando.org>

On topic, this is really great news, the current regulations for this stuff is
really archaic in an age where time zone matters more than country. Can't wait
to find out some more, especially about upkeep fees.

edit: Scratch it, this is an amendment to the current LLC/corporation law, not
an addition of a new class of company. Even cooler.

<http://dotank.nyls.edu/june18virtualcorp.html>

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delackner
Accelerando had a lot of great ideas, including this one taken to its logical
extreme -- companies owned by companies whose directors are themselves python
scripts. Didn't much like the story, but the ideas are lovely.

Near the end of the second link you provided, Johnson says that the new
amendment prohibits transfer of interest, even say, to your next of kin. I
suppose this will lead these firms to setup themselves to distribute nearly
all of their revenue to their partners, rather than maintaining large excess
capital beyond that needed for, say, foreseeable upkeep.

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khafra
...which is sort of incredibly cool, if you take the view that diminishing
energy supply means the economy will only sustain itself by focusing off
expansion and onto efficiency and paradigm revolutions.

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thomasswift
So some of the lawyers I talked to said were leery of LLC's because they
weren't proven in court as corporations are. So what are they going to think
of virtual corps? This is really interesting stuff though.

