Open Company Sector

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= from a draft proposal under discussion at [1]

Description

Indy Johar:

"What we propose is that the private sector be split into two parts – a private sector and an open sector. Choice will be entirely voluntary although it is likely that the more onerous reporting requirements of the Open Sector will be balanced with a lower rate of corporation tax and, over time, may be invited to enjoy advantages in public sector tendering, depending on uptake. Those not wishing to be fully transparent will not be required to be so. Full and effective operation of markets requires transparency and therefore it is unlikely that those interested in seeing capitalism survive its current crisis will be able to muster arguments against a voluntary transparent sector. On the other hand, the availability of a more transparent sector could unleash powerful and positive market forces.

The purpose of this initiative is to avoid second guessing or agreeing a vast array of standards that are likely to be beyond consensus or are likely to change over time (e.g. levels of minimum tax, pay differentials, etc.) Therefore it is proposed that NO regulatory requirements be placed in this legislation and no political judgements made except those that bear upon transparency.

It is also critical that absolutely no attempt be made to make introduction of this optional sector dependent on international agreement of any kind. Arguments that various requirements here would be too onerous unless foreign competition were to be put onto the same playing field would be almost entirely spurious and likely motivated by a desire to indefinitely delay implementation. (It will nonetheless be illuminating to see what will effectively be attempts to prove that being open puts one at a competitive disadvantage.)

It may be necessary to consider a two-step approach that makes it easier for small companies, for example, to move in this direction." (https://docs.google.com/document/d/1GmgZ_fpZX9F1t0LGkD4KGbZV-AGG17dGoP9CeDARS1A/edit?hl=en&forcehl=1)


Characteristics

Indy Johar on the Open Limited Company:

"Commit to providing Open, Transparent and Real-Time data with regards to all economic activity internal and external in the company from employee reimbursement, expenses, transfer pricing, contracts to investments etc., focused on value created and level of compensation at each step of the supply chain might also be captured. (ie, What is the farmer paid?): Commit to providing this data in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing Open, Transparent and Real-Time data with regards all Human Resource Data in the company from the Gender and Ethnicity as well as other employment conditions, leave entitlements, etc; Commit to providing this data in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing Open, Transparent and Real-Time data with regards to energy and resource use and externalities in the company on a jurisdiction by jurisdiction basis: Commit to providing this data in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing Open, Transparent and Real-Time data with regards to beneficial ownership of every single aspect of the company and any vehicle over which it has fiduciary control, majority ownership, controlling ownership or interlocking ownership; Commit to providing this data in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing Open, Transparent and Real-Time data with regards to all tax paid by the company both direct, indirect and via employees. Commit to providing this data in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing Open, Transparent and Real-Time data with regards to all accounts, trusts, foundations, companies, banks and any other legal vehicle at all based in any jurisdiction which is engaged in unfair tax competition or any form of secrecy legislation ( see definitions below). Commit to providing this data in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing Open, Transparent and Real-Time data with regards to all contracts and relationships of the company and its staff, owners and directors, influencers, investors etc with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing Open, Transparent and Real-Time data with regards of any political donation, lobbying expenditure and the like, whether directly to politicians or parties or indirectly to unaccountable lobbying organisations such as the Corporation of London. Commit to providing this data in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing Open, Transparent and Real-Time data with regards all whole or partial property, asset and land holdings. Commit to providing this data in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing Open, Transparent and Real-Time data with regards to corporate policy, governance structure, ownerships. Commit to providing this data in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing an Open, Transparent and Real-Time Freedom of Speech for all employees, staff, contractors, supplies chains, customers to comment publicly on any aspect of the corporate commitments highlighted above. Commit to upholding this right in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit to providing an Open, Transparent and Real-Time API of the data committed above to any organisation which upholds the commitments listed above, Commit to providing this data in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain.

Commit that all data, api’s and information released under the open sector charter will remain open under creative commons licence, in every jurisdiction in the world in which it is economically active, broken down by jurisdiction; with a commitment to year on year drive this throughout its entire supply chain. (Q Johns 18/06/13)" (https://docs.google.com/document/d/1GmgZ_fpZX9F1t0LGkD4KGbZV-AGG17dGoP9CeDARS1A/edit?hl=en&forcehl=1)