Membership Deed
Every cooperative needs to define the terms of its membership. As coopon members agreed to be an LLP - Limited Liability by Partnership operating on cooperative principles, it requires a Partnership Deed.
LLP Deed Template - https://www.indiafilings.com/learn/wp-content/uploads/2015/04/LLP-Agreement.pdf
LLP Information from ICAI - https://resource.cdn.icai.org/46646bosfnd-p2-seca-cp4.pdf
Nilenso Cooperative Agreement - https://github.com/nilenso/cooperative-agreement
* NYD = Not Yet Discussed
* NYF = Not Yet Finalised
The Firm
| Registered Address | For now: Prasanna's Home Address |
|---|---|
| Official Name | Coopon SciTech LLP |
| Main business & areas of operation | To design, develop, research, purchase, take on hire, import, export, sell, assemble, host, manufacture, test and distribute all types of hardware, software, electronic devices and electronics with embedded software. To render services such as consultancy, support and training and all other allied activities for services mentioned above for Indian and overseas individuals or firms. |
| Powers of the firm to participate in business | Nilenso Deed |
| Intellectual property of the firm | To be linked with FSHM after meeting Executive Committee of FSHM (NYF) |
Relationship between Members
| Profit sharing percentage | None |
|---|---|
| Loss sharing percentage | None |
| Salary to partners | Equal sharing with contributors of the project |
| Min. Capital contributed by each member | Rs. 1024/- |
| Procedure to admit a new member | Unanimous vote required, member, should not work / business anywhere else |
| Procedure after leaving the firm | 1 month notice to leave the firm, all property & access removed, no dues, all IP owned by firm |
| Designated Partners | For now: Mr.Ganesh, Mr.Kamalavelan |
Rights & Powers of Members
| Right to participate in everyday management | Yes (whenever contributable) |
|---|---|
| Right to inspect accounts (granted by LLP Act) | Yes |
| Terms to call meeting & its terms | Based on Priority or Regular Schedules |
| Terms to take on a new project (Should this be in the deed?) | Not necessarily - more of discussion & arbitrary |
| Who should have direct access to coopon's funds | Designated Partners have full access by law, beyond DPs who should be authorized signatories? |
| Who should have direct access to coopon's infrastructure (git repos, servers, office) | Project & Roles (server admin etc) based access |
Rules for admission of a new member
| Eligibility | Skill, Cooperative Knowledge, People from Scientific Community Schools |
|---|---|
| Min. required votes | 75% ? |
Special
* Everything in the deed can be superseded on a meeting-to-meeting basis if the vote is unanimous