Legal Entity Management

Knowing 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 organise the operational business processes more effectively and cost-efficiently.

Users manage their own data about their legal and functional organisation. By the rules of the TTP policy, users make agreements with other users about sharing their data.

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

  • the company and personal data are 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.

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‘. MYOBI uses LEM for keeping track of users’ data. 

The users use LEM in their information ecosystem for:

  • Managing their company and personal data and sharing this data in a controlled and directed fashion with partners; and
  • Managing the company and personal data of their partners.

Users of information ecosystems ask for additional LEM functionalities and services. MYOBI continues to optimise and develop LEM data-driven features.

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

The purpose of standardisation board  is to provide users certainty about the 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 business processes more effectively and persons can practice their legally granted right to data portability.

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Why Legal Entity Management?

A user is equipped with basic LEM functionality. The user extracts generic business data from partners or uses authentic sources (e.g. the Dutch Chambers of Commerce) to add business data from partners to the network. 

To add partners, as user, it is necessary for MYOBI to establish the authenticity of the identity of the representative and for the user to endorse the TTP policy.

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In the organisation

  • From different perspectives (operational, commercial, fiscal, or data privacy) oversight and insight into holding, subsidiaries, participations, and partnerships;
  • Authorised 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 organisation 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.

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.

Do you have more questions? Please, visit our service desk website or contact us via +31 0(70) 362 18 07 or servicedesk@myobi.eu.
Legal Entity Management
André Biesheuvel

Standardisation 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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André Biesheuvel