In setting up The OWL Project as a business, we decided to use a business trust. But we did not want to use just any business trust. We wanted specific things in the trust, so we opted to draft our own indenture.
We had the person who, in 2006, organized and rewrote the master indenture for Frank Ozak and Gwenn Wycoff use his copy of that rewrite as the basis for our indenture. While he was editing and adapting the indenture to work as a business trust, he also included features to make it a Socially Responsible Business Trust™.
What is a Socially Responsible Business Trust™?
From the indenture:
A socially responsible business makes decisions based on more than immediate bottom-line considerations. Other factors that weigh in include:
Our ethics, especially as reflected in how our decisions effect the points listed below.
Our impact on the environment, both locally, and globally, through both our supply chains and product distribution and use.
The financial stability of our employees, their families, our community, and society at large.
The health and welfare of our employees, their families, our community, and society at large.
Our ability to help people grow and develop, starting with our employees and contractors, and then extending to their families, our community, and society at large.
Contributions we can make to the arts, including such programs as those encouraging and supporting younger artists.
The satisfaction of our customers with both our products and our business practices.
Once he completed the draft of the indenture, we had it reviewed by the legal team who had worked with Frank Ozak and Gwenn Wycoff to win the case brought against them by the Department of Justice on behalf of the IRS. Following that we had the Head Editor for The Art of Passing the Buck, Vols. I and II join the legal team for a point by point review of the indenture. In short, we did it right.
As soon as we have Policies and Procedures for the Business Trust, along with training, we intend to make it available as our next product.
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