EDMC-FIBO/BE 1.0 FTF Avatar
  1. OMG Issue

FIBOBE_ — The Legal Persons ontology is missing the concept of a Business Entity

Open Closed All
  • Key: FIBOBE_-9
  • Status: closed  
  • Source: Thematix Partners LLC ( Mrs. Elisa F. Kendall)
  • Summary:

    The notion of a business entity is missing from the legal persons ontology. Business entities would include business trusts, corporations, partnerships, companies with limited liability, and potentially sole proprietorships, which are all kinds of businesses.

    This is fundamental, and the definition is not the same as that of a legal person or juridical person, so needs distinct treatment.
  • Reported: EDMC-FIBO/BE 1.0b2 — Thu, 8 Oct 2015 00:14 GMT
  • Disposition: Resolved — EDMC-FIBO/BE 1.0
  • Disposition Summary:

    The Legal Persons ontology is missing the concept of a Business Entity

    The notion of a business entity is missing from the legal persons ontology. Business entities would include business trusts, corporations, partnerships, companies with limited liability, and potentially sole proprietorships, which are all kinds of businesses.

    This is fundamental, and the definition is not the same as that of a legal person or juridical person, so needs distinct treatment.

    This issue is limited to section 9.2.1 Legal Persons. The change is entirely additive and does not impact other FIBO specifications.

    This resolution depends on the resolution of FIBOBE-_11, however, which also modifies the Legal Persons ontology.
  • Updated: Tue, 12 Jul 2016 14:45 GMT
  • Attachments: