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Corporation 101 for tech pros: The publicly traded man

Since 2008, Kenneth Mike Merrill has been his own personal stock product. Through his Web site Kmikeym.com he sells to the public, shares of himself. ITBusiness.ca published an article on Merrill back in June this year. We are linking to this article for small business month because it demonstrates a unique way to use a “corporate” structure to accomplish goals other than the maximization of profit for shareholders.

Merrill is practicing what he calls “community through capitalism.” He has introduced the novel idea of selling shares in himself to the general public and allowing them to have a say in how he lives his life.

His stock goes up and down in value just like any other publicly traded company. The difference is that his “shareholders” are intimately involved with the way he lives his life and the “value” his shares represents is really the value investors see in participating in Mike’s life.

Here is an excerpt from that article:

Lessons learned from the ‘first publicly traded’ man

“Kenneth Mike Merrill, also known as “kmikeym,” the first publicly traded person.

Merrill is also an office manager, entrepreneur, and sometime artist. He has been his own personal stock market since early 2008. People can buy shares in Merrill on his website Kmikeym.com and then advise him on issues about his personal and professional life, fund his ideas, and have a say in which kind of projects he undertakes .

I have to admit that when I first started to research Mike, I thought this was a clever publicity stunt. However, after speaking with him for even a short period of time, I came to realize that this is a serious business for him.”

Click here, to read the full article

October is small business month and to celebrate, writers from Aluvion Law will be making daily posts on one of the most common forms of Small Businesses: Corporations!  Corporations are particularly popular among the high-tech and IT crowd because of the tax advantages they provide to rapidly growing companies, as well as the assistance they can provide in unlocking capital. The other great benefit recognized by the ‘serial entrepreneurs’ that flock to the IT sector is that they limit the liability of the owners in the event of the business failing.

 

Monica Goyal
Monica Goyalhttp://www.aluvionlaw.com
Monica Goyal, Entrepreneur, Lawyer and Innovator is the founder of Aluvion, a legal solutions company offering technology, paralegal and lawyer-driven solutions with a special focus on the quality, cost, and accessibility of legal services for both businesses and individuals. Monica began her career working as an engineer in R&D for companies like Toshiba, Nortel and Nokia while earning her Masters of Engineering at Stanford. Monica's history conditioned her to solve problems in a efficient and tech-savvy manner, an approach she brings with her to legal solutions. Monica currently sits on the Canadian Bar Association's Futures Initiative, and will be teaching a course on Legal Technology at York University’s Osgoode Hall. She was recently named one of 10 Women to Watch in Tech in the Journal of the American Bar Association.

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Jim Love, Chief Content Officer, IT World Canada

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