Legal Entity Management

Know yourself and your partners are preconditions for doing business, collaborating and processing data.

The increased certainty regarding the reliability of the data makes it possible to organize the operational business processes more effectively and cost-efficiently.

Business users of the Trust Network manage their own data about their formal and functional organisation. By the rules of the TTP-policy, users of the Trust Network make agreements with other users about sharing their data.

Based on this data, a company creates an overview and insight into its responsibility and liability domain, and eventually that of the partners. Each company maintains an Information ecosystem where:

  • the data to be exchanged is more in line with the mores of the target groups;
  • the increased certainty about the reliability of the data makes it possible to organise the operational business processes more effectively and cost-efficiently; and
  • it is easier to organise compliance with legal and contractual obligations.

Ongoing

The MYOBI Trust Network uses Legal Entity Management (LEM). With their Information Ecosystems, users of the Trust Network use LEM for:

Users ask for additional LEM functionalities and services. MYOBI continues to optimize and develop LEM data driven.

Standardisation board

Standard definitions and data portability are characteristics of the MYOBI Trust Network. The purpose of standard definitions is to provide users of the Trust Network with certainty about the definitions (meaning) of data and to enable data portability. The reliability of data increases, and companies and persons can exchange data with each other easily. It allows companies to set up more business processes more effectively. Individuals can exercise their legally granted right to data portability.

MYOBI’s Standardisation Board (SB) organises data portability.

Based on legislation, schemas, and generally accepted standards, the SB derives, manages, and makes definitions of data available in the Information ecosystem of users.

Legal Entity Management (LEM)

A user’s Information ecosystem is equipped with basic LEM functionality. The user extracts generic business data from partners from the Trust Network or uses authentic sources (e.g. the Dutch Chambers of Commerce) to add business data from partners to the network. To add partners, as users of the network, it is necessary for MYOBI to establish the authenticity of the identity of the representative and for the user to endorse the TTP-policy.

The TTP-policy endorsement will give all users of the Trust Network more certainty that the company and personal data are shared in accordance with the TTP-policy, and in particular, are processed in accordance with the TTP Code of Conduct GDPR.

This assurance, concerning the processing of data by legal obligations, is also essential for an effective legal and compliance operation of a company.

Areas of application

Companies use Legal Entity Management (LEM) for various applications. We make a distinction between applications on our data: “in the organisation” and applications on the data of partners: “in relation to partners”.

A further explanation of the application areas has been elaborated in a the factsheet.
Legal Entity Management
Factsheet

In the organisation

In relationship to partners

Become a MYOBI user.

Accept the TTP-policy and start the Trust Services.

Frequently asked questions

Use the button to use the MYOBI trust services.

LEM is part of the MYOBI Trust Network. Costs for joining depend on annual turnover, number of employees and entities.

MYOBI service desk or account management. You can contact them via servicedesk@myobi.eu.

Duthler Associates professionals and First Lawyers attorneys are trained consultants. See trust services.

The authorised representative with the appropriate role can use the information ecosystem to activate additional trust services using the button: “Need support”.

With the help of the information ecosystem, the person with the appropriate role manages the hierarchy of the formal and functional organization. MYOBI enables data from authentic sources (for instance the Chambers of Commerce) and offers also: (1) e-learning training and (2) trained consultants.

MYOBI Service Desk determines the identity of the company and the persons in the role of representative authority. MYOBI links the role of “Company Admin” of the company’s Information ecosystem to the representative. MYOBI periodically checks the correctness of this link.

The Service Desk is the first line of contact.

Do you have more questions? Please contact the MYOBI service desk or account management via +31 0(70) 362 18 07 or servicedesk@myobi.eu.

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Legal Entity Management
André Biesheuvel

Standardization Board

The Standarization Board (SB) manages related data definitions, including those of the Legal Entity Framework (LEF), on the MYOBI Trust Network. The SB makes the

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MYOBI is a trusted third party and ensures that companies and individuals can control and direct their data.

Formal