SECTION 4: CO-OWNERSHIP & EXECUTIVE ROLES

Businesses may have multiple owners or designated executives, but these roles must be properly documented and acknowledged by Business Management. Unregistered co-owners hold no legal rights within the city’s business system.

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4.1 – Mandatory Registration of Co-Owners

• All co-owners must be officially recorded in the Business Directory and internal Business Management documentation.

• Adding or removing a co-owner requires a ticket submission in the Business category of Discord to ensure records remain accurate.

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4.2 – Rights & Liabilities of Co-Owners

• Registered co-owners are entitled to a defined share of ownership (percentage decided internally by the business).

• Co-owners share legal and financial responsibility for business operations, debts, and compliance with city regulations.

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4.3 – Transfer or Sale of Shares

• Co-owners may sell or transfer their share of the business, but:

  • The sale must follow official ticket procedures.

  • Remaining owners must be informed and provided the option to purchase the shares before an external party is considered.

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4.4 – Unregistered Co-Owners

• Any individual not listed in the official Business Directory is not recognized as a co-owner by Business Management.

• Unregistered individuals cannot claim profit shares, decision-making authority, or legal protection in disputes.