<div dir="ltr"><div class="gmail_default" style="font-family:verdana,sans-serif">Holly,</div><div class="gmail_default" style="font-family:verdana,sans-serif"><br></div><div class="gmail_default" style="font-family:verdana,sans-serif">I think it would be very helpful if you could provide some more specificity and basis to validate the two statements cited in the exchange:</div><div class="gmail_default" style="font-family:verdana,sans-serif"><br></div>"<b>(a) Requires forming a new entity and on an ongoing basis attending to a set of associated corporate formalities, although those can be fairly minimal;"</b><br><br><div class="gmail_default" style="font-family:verdana,sans-serif">In this case it would be helpful to list the "associated corporate formalities" to demonstrate that these can be "fairly minimal." Some mention of time and cost would also be helpful. For example:</div><div class="gmail_default" style="font-family:verdana,sans-serif"><br></div><div class="gmail_default" style="font-family:verdana,sans-serif"><font color="#0000ff">These corporate formalities would typically include preparing [documents XYZ] and filing [documents ABC], as well as having an annual meeting of [123] which can be conducted telephonically. Other than the meeting, most of these tasks would be handled by paralegals, with an approximate time demand on all participants of less than 10 hours and an approximate cost (including filing fees) of less than [$10,000]. The meeting would require less than two hours of each participant's time, and would require a lawyer (with paralegal assistance) to prepare fairly standardized documents. at a cost not likely to exceed [$10,000]. We cannot envision any reasonable scenario where the burden of such corporate formalities would be significantly greater than described above.</font></div><br><br>"<b><div class="gmail_default" style="font-family:verdana,sans-serif;display:inline"></div> (c) May have some negative impact on operational efficiency due to the functional separation, and the separate legal status will introduce some additional costs, although those should not be significant."</b><div><br></div><div><div class="gmail_default" style="font-family:verdana,sans-serif">Here it could be something like:</div><div class="gmail_default" style="font-family:verdana,sans-serif"><br></div><div class="gmail_default" style="font-family:verdana,sans-serif"><font color="#0000ff">The additional costs associated with separate legal status generally consist of [XYZ], which we expect would likely cost no more than $[______]. We do not believe that there is any way these costs would become significant greater.</font></div><br> <div class="gmail_default" style="font-family:verdana,sans-serif;display:inline">Right now the conversation in the CWG has introduced the possibility that these could be significant burdens. Some of this may be inadvertent. Some of this may be due to an excess of caution. Some of this may be due to those who oppose structural separation looking for any dirt they can throw on the option. Either way, I think this is unfounded and I'd like to take one more shot at closing this line of thinking off for the vast majority of the group (if that's consistent with reality and your views). </div><div class="gmail_default" style="font-family:verdana,sans-serif;display:inline">I hope this helps.</div></div><div><div class="gmail_default" style="font-family:verdana,sans-serif;display:inline"><br></div></div><div><div class="gmail_default" style="font-family:verdana,sans-serif;display:inline">Greg</div> <div class="gmail_extra"><br><div class="gmail_quote">On Tue, Apr 21, 2015 at 8:08 AM, Client Committee List for CWG <span dir="ltr"><<a href="mailto:cwg-client@icann.org" target="_blank">cwg-client@icann.org</a>></span> wrote:<br><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
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<p>Thanks Greg, an interesting discussion but I'm unclear on what you would like us to further comment. We stand by our advice and if you would like to include "counsel advises" we have no objection. Holly<br>
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Sent with Good (<a href="http://www.good.com" target="_blank">www.good.com</a>)<br>
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<font face="Tahoma" size="2"><b>From:</b> <a href="mailto:cwg-client-bounces@icann.org" target="_blank">cwg-client-bounces@icann.org</a> on behalf of Client Committee List for CWG<br>
<b>Sent:</b> Tuesday, April 21, 2015 01:34:11 AM<br>
<b>To:</b> Client<br>
<b>Subject:</b> [client com] Response B to Sidley Structure Document<br>
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<div class="gmail_default" style="font-family:verdana,sans-serif">Sidley team,</div>
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<div class="gmail_default" style="font-family:verdana,sans-serif">This document has a second thread that emerged in response to your draft. THis comments directly on some of your language, and thus requires a response.</div>
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That's all for tonight.</div>
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<div class="gmail_default" style="font-family:verdana,sans-serif">Greg</div>
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