Introduction

Remembering that in the Dominion the Mercantile Bureau and Trade Bureau operate a majority of shipping, independent ship owners are permitted to operate and trade. However because the Dominion doesn’t have a concept of a private corporation as a separate legal entity that exists in contemporary society, there aren’t large private shipping companies. What there are is groups of ship owners that get together and agree to pool costs and profits to defray individual risk.

In contemporary society such a group might form a limited liability company that would own the assets and the company directors would operate them. The company can enter into contracts, be sued etc. as a separate legal entity. However, in the Dominion, while the partners in such an enterprise can make economic arrangements between themselves (eg: Contribute N shares of ʄ1M each to a common pool with profits divided accordingly) they can only conduct business as individuals.

For example, one person has to be the registered owner of each ship. If that particular ship owner had not contributed enough to the partnership to own that ship then they would be considered financed in a private venture capital arrangement by the other partners in the venture. If something happened and legal action arose, it’s the individual ship owner (or their crew) who is liable; the venture capital partners aren’t a corporation and can’t be sued as a group.

Notwithstanding the above, the partners can register and brand themselves as a trading entity (eg Brighter Skies Traders) for their own administrative convenience.