Partnership shares.
Start something with friends. Share it fairly. Incorporate when you’re ready.
The path
Most things stay small, and that’s fine. Each step is optional. You only take the next one when you want to.
Token
Launch a token for your idea. People who like it can hold it.
Rooms
The token works as a ticket to your chat rooms. Your community gathers there.
Partnership shares
When a few of you start working on it together, record who owns what.
Company
Incorporate. Partnership shares become company shares, one for one.
Private placements
Raise money from people you choose, under the company’s own rules.
One day: IPO
A regulated public offering. Only then can shares trade in public.
An ice-cream story
Fred, Joe and you decide to sell ice cream, paid for in digital cash. You set up Partnership shares: Fred 30%, Joe 30%, you 40%.
After Max joins: everyone gives up a tenth, so 30/30/40 becomes 27/27/36, plus Max 10.
- Locked together. The shares are locked, so nobody can sell theirs without the others agreeing.
- Max joins. Max has freezers. The three of you agree to admit him for 10%.
- Every sale splits itself. Money from each sale goes straight to each partner by their share. No spreadsheet.
- Incorporate later. When the business grows, you form a company. Each partnership share becomes one company share.
b drafts it with you
The partners get a shared chat that only they are in. b, the bWalletX assistant, is in it too.
b drafts your partnership agreement, and any change to it. b explains each term in plain words. b helps you reach agreement, one point at a time.
When you all agree, each partner signs with their own wallet. Nobody signs for anyone else.
b is not a lawyer. Drafts are for the partners to read and agree. For bigger stakes, take advice from a solicitor or accountant.
Know what a partnership is
Until you incorporate, you are a partnership. Profits are shared. Each partner is personally liable for the business’s debts. Each partner pays tax on their own share.
Partnership shares are never offered to the public. Public trading comes only after a regulated offering.
Built working
These pieces are in bWalletX today, or in testing where marked.
- Token launch. Launch a token for your idea.
- Token-gated rooms. A token works as a ticket to a chat room.
- Multisig locks. Lock holdings so more than one person has to agree to move them.
- Automatic splits. Payments split between people by set shares.
- Ask b. The built-in assistant, in the wallet and in chat.
- bShares register. A company register of members, in testing with The Bitcoin Corporation Ltd.
Coming planned
These are plans. They are not built yet.
- Partnership shares set-up. Name the partners, set the split, and get a generated agreement.
- b in partner chats. b drafts and explains terms, and helps you agree changes.
- Admit a partner. Bring someone in with everyone’s agreement, and the split updates.
- Incorporate. Convert partnership shares to company shares, one for one.
- bShares for many companies. Any company can keep its register in bShares.
Start with the wallet
Everything here lives in bWalletX.
bWalletX is in beta: test with small amounts. Questions: support@bwalletx.com