online games, multiplayer games
Simcountry is an Online Digital World where you are the President of a country.
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What is Simcountry?
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What is Simcountry?

!!!!!!!!!!!!We want Limited Liability- Petition!!!!!!!!!!!!! (Fearless Blue)

Simcountry: Simcountry Bulletin Board  !!!!!!!!!!!!We want Limited Liability- Petition!!!!!!!!!!!!! (Fearless Blue)

Geraint Owens (Fearless Blue)

Tuesday, September 07, 2004 - 12:41 am Click here to edit this post
One particular gripe I have is when a corporation goes bankrupt in Simcountry, the owner has to pay out it's debts, whether thats the CEO or State. This is unrealisitic, in the real world the whole idea of setting up a company or corporation is to protect the owners from possible liabilities resulting from business failures.

Granted there is such thing (at least in England and Wales) of the non-Limited liability company, but since the 19th Centuary hardly anyone has bothered to do this since the law allowed for "Limited Liabilty"- indeed recent developments in that jurisdiction have even provided for limitied liability "partnerships", another form of corporation. Limited Liability was a key point I think first understood by the State of New York in the 19th Century, basically if you wanted investors to take risk, you had to allow them to "bet" a set stake, as opposed to signing an open chequebook.

I see no need really for the development of different forms of corporations in this game, such as "Industrial and Provident Societies, Limited Liability Partnerships, Unlimited Liability Companies, etc" (I am using examples from my own jurisdiction (England and Wales), I am sure there are subtle variations from the over 200 other jurisdictions that allow for the formations of artificial persons (corporations) too, but these subtleties are not important).

The common thread that most corporations in the world have this very important concept of Limited Liabilty.

Add your name for my petition for limited liability. Go on you know it the right thing! The 19th Centuary New York Business Community changed the real world, we can change The Game of the worlds!

Obviously CEOs should sign up obviously but players playing as states have an interest too.

P.S. Also to make the game more realistic I think CEOs should register in a particular country, (although they would be free to move around of course) where they would have to pay tax, and of course empoy people, this would require a new form of Game Corporation which could be called say a "Corporate Headquarters". But this is a separate point to Limited Liability.

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