Virtual in Vermont – software corporations get the green light

abandoned laptop in coffee shopVia Charlie Stross, who isn’t entirely over the moon to see a trope from one of his novels coming true, we hear that the state of Vermont has passed a bill allowing the creation of limited liability corporations that are almost entirely virtual:

… up until now, U.S. law required LLCs to have physical headquarters, in-person board meetings and other regulations that have little relevance in the digital age.

No longer. Under the new law, for example, a board meeting may be conducted “in person or through the use of [an] electronic or telecommunications medium.” A ‘virtual company’ will be, as a legal matter, a Vermont limited liability company,” said Johnson. And other states are required to recognize the corporation as a legitimate LLC.

Interesting news. Hell knows that with the economic downturn, it’ll be a much more sensible idea to operate from coffee shops and build your swanky futuristic-looking headquarters in Second Life… even though the rent there isn’t as stable as its residents would like. [image by Zesmerelda]

One thought on “Virtual in Vermont – software corporations get the green light”

  1. There is a new surface tension emerging. Right now there are new engine formats, new contracts, now ways in which Linden Labs move, or somehow find themselves “muscled into” agreements with prospective clients. Cant tell you the details, but Linden Labs is being railroaded into some USD government work as we speak, that will bite them in the ass for years. Right now.

    Right now the interface, the hardware, the whole playability of SL is something that is almost a career choice or a lifestyle. It is by no means accessible to the common user. You gotta be twisted in a way to do it.

    But that will change. Right now using SL as *a really elaborate phone/webcam/brainstorming” space is crap up to the heavens. But in a few years this will tilt and whammo, the millions will find themselves having to *struggle* NOT to be coerced into SL like environments. By their employers. By their fishing mates. By school.

    Its is unavoidable as the the rain being dead certain. I am hearing the distant rumble already.

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