[CWG-RFP3] Strawman Proposal 4

[Greg Shatan]

Guru,

I am not familiar with the use of a trust in this fashion either, nor can I
see how it would work.

Under, US law, trusts operate essentially the same way as you describe.
The "author" is typically called the "Settlor" or the "Grantor," but the
role is the same.  Typically, a trust is used for the holding of money or
other assets.  The Settlor typically donates the assets to the Trust, and
the Beneficiary ultimately gets the benefit of these assets.  The Trustee
(sometimes also called the Administrator) manages the Trust, and has a
"fiduciary responsibility" to both the Settler and the Beneficiary (but
typically, no responsibility to anyone else).  Sometimes, the Trustee
legally named in the document will hire a professional "Administrator" to
run the trust (this often happens where a family member is the Trustee).

Avri, it would be helpful if you could provide some examples of a trust
being used in this manner, or some explanations.  It would also be helpful
to know what entity (or entities) you envision as the party (or parties) to
the agreement that is being "held in trust."  Following the trust structure
as far as I can, I suppose this would be the "Settlor," but who is this?

Thanks!

Greg

On Fri, Nov 14, 2014 at 5:35 AM, Guru Acharya <gurcharya at gmail.com> wrote:

> Hi Avri and Greg,
>
> This is with reference to the Strawman 4 added to the matrix:
>
>
> https://docs.google.com/document/d/1kO8dtSdkTnH79FSUsxA8KmPv1O2IfYwYFm2k_CIoNMw/edit
>
> While I am familiar with how trusts operate in my country, I am not able
> to comprehend the use of trusts as done in Strawman 4. Maybe someone can
> help explain the nature of laws under which this proposal is being
> contemplated.
>
> As I understand, trusts are generally established between three legal
> entities: the author, trustee and the beneficiary.
>
> The person who reposes or declares the confidence is called the “author of
> the trust”; The person who accepts the confidence is called the “trustee”;
> the person for whose benefit the confidence is accepted is called the
> “beneficiary”.
>
> In Strawman 4, who are these entities?
>
> There is reference to a ICG like panel without any legal status - I
> suppose a committee within ICANN - is that the beneficiary? Who are you
> proposing the trustee be? Are you suggesting that that the trustee contract
> the IANA operator (ICANN) on behalf of the beneficiary (also ICANN)?
>
> I'm not able to see how all of this works - Maybe someone could help
> explain.
>
>
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