Subject: Re: Mozilla For Profit?
From: "Stephen J. Turnbull" <stephen@xemacs.org>
Date: Fri, 05 Aug 2005 11:57:25 +0900

>>>>> "J" == J David Boyd <david@adboyd.com> writes:

    J> You can definitely create a corp without stockholders.

You can't create a for-profit corporation without stockholders,
because somebody has to own the right to the stream of distributed
dividends, and somebody has to own the right to the proceeds should
the corporation be dissolved with positive net worth.  That's what
"stockholder" means, that you have a right to a specified share of the
corporation's net assets.  (Under certain conditions; eg, you can't
simply say "I'm taking my net assets and going home," unless the stock
is publically traded, and even then you get the market value rather
than the accounting value.)


-- 
School of Systems and Information Engineering http://turnbull.sk.tsukuba.ac.jp
University of Tsukuba                    Tennodai 1-1-1 Tsukuba 305-8573 JAPAN
               Ask not how you can "do" free software business;
              ask what your business can "do for" free software.