A Conversation for How would a community-led h2g2 be run?
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bobstafford Started conversation Mar 24, 2011
How is this going to work then - without starting a 2 tier membership or is a share a vote, and have no value and is untradable.
Share holders
Z Posted Mar 24, 2011
A 'Share' in a company limited by guarantee is quite different from a share in a public limited company.
1. It means that the owner of the share has the right to vote at the AGM, which would be for the business committee only.
2. It means that the owner has agreed to pony up (guarentee) a small amount should the company go out of business, this is usually £1. Their liability goes no further than this amount.
They do not get a share of any profits, and the shares cannot be traded. There isn't a limited number of shares, anyone who is willing to give their name and address and pay a small fee (£1) is a shareholder.
Because we know that not everyone will be able or willing to do that but will still want to be involved then we will have separate on-site elections for the Elected Editors(or whatever we call them) who will make editorial and community decisions), where everyone with a user account can vote.
It's a not for profit so any profits would be invested back in the company, and we could write that into the articles of association.
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