[MASTERCOIN] - Incorporation and Shares?

[crazy_rabbit]

I've recently started a company, and I'm toying with the idea of how I could possibly issue shares in the company using MasterCoin. The company is a real one, registered in Delaware, so I'm probably not able to pretend like the law governing these sorts of things doesn't exist. A lawyer I spoke with briefly on the subject said I could probably keep a record of the shares with Mastercoin or delineate the shares as such, but at some point I would still need the real identities of the shareholders. IE: It's can't be an anonymous company.

What do others thing about possibly issuing shares with Mastercoin? As my company is a NFC bitcoin tech company, my thoughts were to perhaps even put the shares on NFC tokens of some sort that people could hold onto.

Thoughts? Whats the best way to do this?

[markm]

Maybe the actual legal owning of the actual real legal shares could be left with a storage/holding/vault operation, so that until someone actually wants to go get the real legal share represented by a token there is no need to know who they are?

Basically you would initially have only one actual shareholder using tokens, that would be the storage/holding/vault operator.

Anyone could muck around with tokens back and forth play poker with them buy and sell them or whatever, all without any actual legal shares changing hands.

Then if/when some day someone decides they would like to cash in some tokens for actual shares only then need they find someone who is willing to not be anonymous who will hold the actual shares, or they will need themselves not to be anonymous.

-MarkM-

[crazy_rabbit]

Maybe the actual legal owning of the actual real legal shares could be left with a storage/holding/vault operation, so that until someone actually wants to go get the real legal share represented by a token there is no need to know who they are?

Basically you would initially have only one actual shareholder using tokens, that would be the storage/holding/vault operator.

Anyone could muck around with tokens back and forth play poker with them buy and sell them or whatever, all without any actual legal shares changing hands.

Then if/when some day someone decides they would like to cash in some tokens for actual shares only then need they find someone who is willing to not be anonymous who will hold the actual shares, or they will need themselves not to be anonymous.

-MarkM-

Thats a good idea. I wonder if shares can be sold without officially naming the person they are sold to- the idea of having a vault operator is interesting, because perhaps a vault operator could hold the shares of more the one company- making them more like a bank for stock shares?

[BitSpot]

Maybe the actual legal owning of the actual real legal shares could be left with a storage/holding/vault operation, so that until someone actually wants to go get the real legal share represented by a token there is no need to know who they are?

Basically you would initially have only one actual shareholder using tokens, that would be the storage/holding/vault operator.

Anyone could muck around with tokens back and forth play poker with them buy and sell them or whatever, all without any actual legal shares changing hands.

Then if/when some day someone decides they would like to cash in some tokens for actual shares only then need they find someone who is willing to not be anonymous who will hold the actual shares, or they will need themselves not to be anonymous.

-MarkM-

This is great advice. I really like this idea and the way you worded it.

I'm surprised that this thread hasn't received more responses or ideas pertaining to this subject.

Let's say for instance you have 1,000 legal shares you are able to distribute with your company, these are the legitimate paper shares where identities and such are tied. So we have the "Vault Holder" or whoever we should call them be in charge of the amount of shares that you wish to offer to the public through the virtual systems (mastercoin, cryptostocks, havelockinvestments, etc.). Is it reasonable to offer 100,000 shares based on these 1,000 "paper shares" of the company? It all seems like it would be fine to me except when someone wanted to redeem an uneven number or a fraction of a "legal share". The virtual shares, much like the ones on Cryptostocks and Havelock are traded daily back and forth and function as real shares although I still wonder why the validity and legality of these. Are they possible to be redeemed as a real paper share or what are they actually classified as?

I'm in the same circumstances that you are in crazy_rabbit and I'm also interested in these ideas being elaborated. Thanks for starting a great topic.

[2Kool4Skewl]

Maybe the actual legal owning of the actual real legal shares could be left with a storage/holding/vault operation, so that until someone actually wants to go get the real legal share represented by a token there is no need to know who they are?

Basically you would initially have only one actual shareholder using tokens, that would be the storage/holding/vault operator.

Anyone could muck around with tokens back and forth play poker with them buy and sell them or whatever, all without any actual legal shares changing hands.

Then if/when some day someone decides they would like to cash in some tokens for actual shares only then need they find someone who is willing to not be anonymous who will hold the actual shares, or they will need themselves not to be anonymous.

-MarkM-

Thats a good idea. I wonder if shares can be sold without officially naming the person they are sold to- the idea of having a vault operator is interesting, because perhaps a vault operator could hold the shares of more the one company- making them more like a bank for stock shares?

I would imagine that both the buyer and the seller would have to be recorded simply for tax purposes.

The "vault operator" sounds like a shell company scheme.