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 trusted network manage their data about their formal and functional organisation themselves. By the rules of the TTP policy, users of the trusted network make agreements with other users about sharing their data.

Based on this data, the company and its partners gain mutual oversight and insight into areas of responsibility and liability. In this way, every company maintains an information ecosystem with which:

  • 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

MYOBI continues to develop Legal Entity Management (LEM) data-driven. Click on the themes:

Standardisation board

Data portability is an integral part of the MYOBI Trusted Network. The purpose of data portability is to provide users of the network with certainty about the definitions (meaning) of data. 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.

Lem needs a trusted third party

MYOBI fulfils the role of a trusted third party (TTP) on the MYOBI Trusted Network. MYOBI’s role is laid down in the TTP policy, the mores of the users of the trusted network.

Under the TTP policy, MYOBI organizes authentication of the identity of companies and persons. MYOBI also provides data definitions, electronic signatures, the ability to share in a controlled manner company and personal data and an accountability mechanism based on the MYOBI Code of Conduct GDPR. LEM uses the TTP and further expands MYOBI’s services in the role of TTP.

LEM is about gaining an overview and insight into the formal and functional structures of the organization of a company and its partners. Organizing this overview and insight is only possible within the mores of MYOBI’s TTP policy.

Areas of application

Companies use 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

  • From different perspectives (operational, commercial, fiscal, or data privacy) oversight and insight into holding, subsidiaries, participations, and partnerships.
  • Authorized representatives;
  • Modeling the functional business organisation, departments and roles from within the entities;
  • Overview of persons, roles and powers, internal Manual of Authority (MoA);
  • Inventory and assessment of the business risks of my formal and functional organisation;
  • Determine which entities can be dismantled based on different perspectives, of entities in their cohesion.

In relationship to partners

  • Access to structured entities based on processing and consent agreements with partners;
  • Access to corporate family based on authentic and freely available company data;
  • Access to the functional organization of my partners on the basis of processing and consent agreements;
  • External Manual of Authority (MoA);
  • Inventory and assessment of the business risks of the formal and functional organisation of my partners;
  • We can distinguish many types of investigations.

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 Trusted 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:

  • e-learning training; and
  • 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 sales@myobi.eu.

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Blogs about Legal Entity Management

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 (TTP) and ensures that companies and persons maintain control over their company and personal data.

Formal