Legal foundations of digital shares
The representation of shares by security tokens is backed by legal foundations that came into force on February 1st, 2021. Therefore few legal advisors yet hold sufficient knowledge and experience in order to be able to consult companies in this field. Many law firms currently struggle with the topic because it holds quite a bit of complexity and use cases are still rare.
Aktionariat AG, however, has been following the topic very closely even since the drafting of the new law.
Partnership with experts
Comprehensive consultation as well as a legal package including articles of association, token terms, and a revision of the shareholder agreement is provided by our partner and law firm LEXR.
Of course, if you wish you may also choose to work with a different law firm or legal advisor while still enjoying our services.
LEXR, however, is one of the few law firms in Switzerland with blockchain experts with actual tokenization experience. The methodology and offering suggested by LEXR is currently only available in Switzerland, however research is being conducted on its application in other jurisdictions.
LEXR’s legal package covers:
- Corporate actions: Amendment of articles, board decision, etc.
- Share token terms
- Advisory on transfer restrictions, shareholders’ agreements and drag-along functionality
- Insider trading rules governing the trading by empoyees and board members
- KYC / AML advice
- Advice on trading of shares
The cost of LEXR’s legal package is between 2’000 and 4’000 CHF depending on the scope of work.
Other legal aspects
We can further provide under NDA: A confirmation by Finma that running a Brokerbot as we designed it does not require a license.
See also our Terms of Service.