Difference between revisions of "Corporate Citizenship System"
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Latest revision as of 17:57, 29 May 2018
The Corporate Citizenship System was created by the World Board at the end of the Administration Era. It makes any born or cloned, but sentient individual an automatic employee of the Civil corporation that governs the jurisdiction in which the individual was born. This system is not restricted to any race, any human variant, be it unaffiliated, Corp or Incarnate can participate as long as they have reached the statutory age of 21 solar standard years.
The Corporate Citizenship System allows any legal age adult to sell shares of themselves to the market, as well as trade equity of other individuals. When any corporate citizen is born, they are registered as an employee of the governing civil corporation and shares are created, with the individual as a legal entity. Initially, the parents of the individual hold 40%, the governing civil corp which has jurisdiction has 20% and the individual has the remaining 20% of the shares. Upon reaching the adult age of 21, the parents usually give the shares back to the individual or sell them back at cost. The state, however, normally offers a one-time deal to let the individual buy back the shares at a fixed price determined by the valuation of the family unit.
Each individual in the Corporate Citizenship System, unlike 'actual' corporate entities, is treated as an unlimited company. This means each individual is incorporated with or without a share capital but where the legal liability of the members or shareholders is not limited: that is, its members or shareholders have a joint, several and non-limited obligations to meet any insufficiency in the assets of the citizen to enable settlement of any outstanding financial liability in the event of the citizen's formal liquidation, aka death.
Individual equity is both a powerful financial tool as well as a horrible risk. Any individual who owns even the smallest amount of shares in another individual is privy to a portion of their income and assets. For instance, if Azrielle owns 10% of Chiasa's shares, Azrielle would derive dividends which are calculated as 10% of Chiasa's net income and also has a 10% stake of all of Chiasa's assets. There are individuals that find the prospect of losing shares of their natural person scary prospect and simply choose not to participate. This is especially the case for most Gnost, as well as a large portion of the Incarnates. In that case, the parents simply give back their shares and help buy back the Civil corporations stake.
The Corporate Citizenship System's empowerment for the individual to trade shares can be leveraged to raise funds, especially if the individual's valuation rises. Celebrities usually have shares sought after due to their fame. The same holds for politicians, as their shares literally provide access to the halls of power, provided enough shares are available on the market. When anyone has a majority share of an individual, it empowers them to make legally binding decisions for them. This can even go as far as "Don't marry that man" or "Quit this job and join my company". In all of those cases, the individual would have to comply, just like a company which has a legal resolution signed by its directors. It gets even more invasive when the individual is Corp. Unlike the other races, the Corp literally have their bodies linked to the system. This means that majority shareholders can not only command them to follow instructions, they can actually make their bodies do it. There are privileged permissions such as dangerous life-threatening controls, which allow for organs to be turned on and off or closing off sensory perception. Some of these "hidden" functionalities are only possible when a 100% ownership state is achieved, the most notable being the ability to cause instant death. citizens that no longer have control over their own bodies anymore are referred to as Vassals, or modern-day slaves.