Lead PI: Oliver Goodenough
The implementation of digital institutions for private economic activity depends on the availability of laws that permit the key attributes necessary for the creation of digital firms. Working with legislative and administrative officials in the State of Vermont, the Law Lab has helped to define those necessary elements as a matter of policy and to educate the interested parties and constituencies in state government on questions of implementation. Prior to the Law Lab’s formation, the Law Lab’s personnel had already made progress, helping Vermont craft the first business organization laws that fully embrace the power of software and digital communications as the basis for organizing and running the legal aspect of company life. In the winter and spring of 2009, Oliver Goodenough assisted the Vermont Legislature in drafting a new tax treatment for digitally-based Vermont Corporations, a treatment that exempts their out-of-state income from Vermont corporate income tax – an approach similar to that of Delaware.
Building on this foundation, Law Lab has worked with the Secretary of State’s office to help with an implementation strategy for the digital filing provisions authorized by the digital firm law changes and with the legislature and legislative counsel on strategies for extending this treatment to non-profit organizations as well.