World of Mitera : Awakening of the Shapers
Act of Corporate Self Regulation
In the year 4134 the Global Representative Council was in a heated debate around the monopoly that Cycorp, Blackmoor Security Services, and Amtrukus Logistic had acquired. During this time there was a lot of voice to find a way to forcibly break up these corporations into smaller sizes. However, the lobby teams fought back and the Council was in a deadlock over the issue.
Fredrick Allbeard with the law offices of Allbeard and Sons came up with a solution to this problem called the Act of Corporate Self Regulation that both sides of the argument would be able to accept.
It listed out the following details
- Any corporation that has at least 75% of a type of industry can apply for a Government Sanctioned Monopoly status for that industry.
- The application will then be reviewed by committee and no more than 3 people from the requesting company.
- Defined boundaries around the industry will be applied to the request to define what falls into the industry and not into the industry.
- There will be a period of 6 months that any other company can then contest the application and if they can prove that the applying company does not have 75% or more of the industry the application is rejected.
- Once the 6 month probation period is over, the applying company’s application will be accepted.
Rules for Government Sanctioned Monopoly Status
- They will have the power to setup any regulation for the industry they have power over.
- They will have the power to run an audit on any other company within their sanctioned industry, the cost being split between both parties.
- They are required have a yearly audit from the council to ensure they comply to all regulations they create, the cost being paid for by the council.
- They are required to have publicly visible balance sheets for each quarter.
- Profit margins can not exceed 10%
- The highest paid employee can not be paid more then 5 times of the lowest paid employee.
- The overhead of a company can not exceed 25% of the cost of a goods or services.
- Breaking any of these rules or failing an audit will put the company’s Government Sanctioned Monopoly Status into review. If the faults are not corrected within a year the GMS status is lost.
To the public’s eye it seems that the Global Representative Council is still in control but anyone at the top of the power structure knows that the GRC just no more then a puppet show with the Mega-Corps pulling the strings.