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by cthalupa
949 days ago
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LLCs do not require rights be assigned fairly to all shareholders if the operating agreement and by-laws say otherwise. This is the case with OpenAI, where the operating agreement effectively makes the fiduciary duty of the for-profit the accomplishment of the non-profit's charter. The pinkish purpleish block of text on the page you linked goes into more detail here. (Remember, fiduciary does not necessarily have anything to do with money) |
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