New World Newsfeed: The Era Of The Virtual Company

Recent dispatches from the outside world...

Vermont OKs the Creation of Virtual Corporations - GigaOM

It is now possible to create a legally recognized limited liability corporation that only exists on the Internet (but incorporated in Vermont.)  In the post for GigaOM I note that this option's potentially open "even for corporations that exist only in Second Life". It's not a gratuitous mention, because David Johnson, the New York Law School professor who was instrumental in crafting the law, has also been closely involved in State of Play, the NYLS-sponsored virtual worlds-and-governance conference where the Lindens announced their IP rights policy.  (He even has an SL avatar, Kile Grommet.)

“Second Life has facilitated people going into business and working together," David told me during the interview, "that’s potentially a source of early adopters working right now" who'd be interested in using the Vermont code.  Go here to read more about it, and be sure to check out this essay where he discusses the complexities and caveats involved in the law.

Pictured: New Vermont in SL (not necessarily affiliated with RL Vermont.)

Comments

[Jacob]

Looks like linden is also looking to develop a feature so corporations can do real money transactions.
http://jira.secondlife.com/browse/VWR-7632

[Gail Kennedy]

So Delaware or Vermont ?
Where to incorporate our e-B2B company?

[Richard]

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