On 25 January 2018, at I am Coding Studio, a conversation was held with Vircon Legal co-founder Erdem Mümtaz Hacıpaşaoğlu on legal infrastructure for startups. See our Startup Law practice.
The records a company is judged by
“Legal infrastructure” sounds abstract until a due diligence begins, at which point it turns out to mean a small set of records that either exist or do not. The share ledger and the book of resolutions are the backbone: they are the evidence of who owns what and who decided what, and a share purchase agreement signed years earlier means little if the transfer was never recorded. Registered signatory authority has to match the people actually signing.
The data layer sits alongside it. A company processing personal data owes obligations to each data subject and may need VERBİS registration, which is checked from the register rather than taken on trust. Financial records follow their own mandates through e-invoicing. None of this is expensive to maintain; all of it is expensive to reconstruct. See KVKK & GDPR Compliance and Corporate Governance.
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