Status: Draft v0.1.0 — This section is informative.
Mori holds 1,000 common shares of an example stock company. The Source of
the shareholder Right is the entry recording that holding in the company’s
shareholder register — a Source of kind registration. The issuing company
keeps the register, so it appears as the Authority (registrar) and, when
shareholder rights are exercised, as the issuer of Eligibility Responses; the
shareholder register is the Evidence Source. The Object is the share
class held.
One Right — the rights of a shareholder in respect of those shares —
carries two Actions: vote and receive-dividend. Both hinge on the
same characteristic mechanism of corporate law: the record date. The
single Eligibility of vote states one requirement: the Subject is recorded
in the shareholder register as holder on the record date fixed for the
meeting. The single Eligibility of receive-dividend states the analogous
requirement for the dividend record date. Whether Mori may vote at a given
meeting depends not on today’s register but on the register as of the record
date attached to that meeting — the same Subject can be answered true for
one meeting and false for the next without the Right ever changing in
existence. Establishing what the register said on the record date is the
company’s evaluation, performed outside the layer; only its verifiable
Boolean Eligibility Response enters the model.
The example carries a full exercise chain for vote at an annual general
meeting: an ExerciseRequested Event at admission, an
EligibilityResponseIssued Event for the company’s true Response
(attested against the record-date register extract), the established
Decision with its DecisionEstablished Event, the Exercise of
casting the vote, and ExerciseStarted / ExerciseEnded Exercise
Events. The receive-dividend Eligibility is left unanswered, so no
Decision exists for that Action.
| Rights Layer concept | Domain instance |
|---|---|
| Subject | Mori, the shareholder |
| Object | Common shares of the company (the holding) |
| Right | Shareholder rights in respect of the recorded holding |
| Source | Registration: entry in the shareholder register |
| Authority | The issuing company (keeper of the register; registrar and Response issuer) |
| Action | vote; receive-dividend |
Eligibility (vote) |
Recorded as holder in the shareholder register on the record date fixed for the meeting (one requirement) |
Eligibility (receive-dividend) |
Recorded as holder on the dividend record date (one requirement) |
| Eligibility Response (1:1) | vote: answered true by the company against the record-date register extract; receive-dividend: unanswered in the example. How the company evaluates is outside the layer. |
| Evidence / Evidence Source | Register extract as of the record date, from the shareholder register, referenced by the Response |
| Decision | Established for vote because its single Response is verifiable and true; no Decision exists for the unanswered receive-dividend |
| Exercise / Exercise Event | Casting the vote after the Decision was established; requested, started, ended |
| Event | RightGranted when the holding was registered; transfer of the shares would end this Right |
flowchart TD
S["Source<br/>Registration:<br/>shareholder register entry"] --> R["Right<br/>Shareholder rights<br/>(held by Mori)"]
R --> A1["Action<br/>vote"]
R --> A2["Action<br/>receive-dividend"]
A1 --> EL1["Eligibility<br/>holder of record<br/>on the record date"]
A2 --> EL2["Eligibility<br/>holder on the dividend record date<br/>(unanswered: no Decision)"]
EL1 --> ER1["Response: true<br/>issuer: the company<br/>(record-date extract)"]
ER1 --> D["Decision<br/>established: all Responses true"]
D --> EX["Exercise<br/>casting the vote at the<br/>general meeting"]
EX --> EE["Exercise Event<br/>requested / started / ended"]
vote was answered true; admission procedure and the
validity of the vote under corporate law are the company’s affair.Machine-readable expression: shares.json