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Legal Structure

This document discusses the legal structure and subtypes used to classify parties in the EPIC system. It outlines 10 legal structure types containing 34 subtypes that were initially derived for classifying parties. The subtypes are mapped from various internal and external sources based on party attributes. Background analysis was performed to understand certain values like business trusts and determine if they truly represent legal structures. As a result, some subtypes were merged or moved to different classifications to accurately reflect legal structure types.

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Arun Kumar
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169 views1 page

Legal Structure

This document discusses the legal structure and subtypes used to classify parties in the EPIC system. It outlines 10 legal structure types containing 34 subtypes that were initially derived for classifying parties. The subtypes are mapped from various internal and external sources based on party attributes. Background analysis was performed to understand certain values like business trusts and determine if they truly represent legal structures. As a result, some subtypes were merged or moved to different classifications to accurately reflect legal structure types.

Uploaded by

Arun Kumar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Legal Structure

Objective: Parties in EPIC to maintain Legal Structure and Legal structure sub type information for
the parties

Legal Structure values:

Initially 34 legal structure values have derived, all enterprise level. Later these were categorised as
10 Legal structure types under which the 34 legal structure sub type values are present

Eg:

Legal Structure Type Legal Structure Sub type


Partnership Limited Partnership
Corporation Non-profit Corporation
Limited Liability Company Professional LLC

Currently, legal structure values are being sourced from GLIEF, via the Party rule table.

The legal structure mapping is done basing on the attributes present for the parties in the source.
Below are the sources for which mapping has been done

External Sources: NIC

Internal Sources: WCIS, Hogan, GEMS

NIC Legal Structure Mapping:

Attributes: Org type Code

Mapped to 11 Legal structure sub types

ELF Codes

ELF codes are legal structure codes which are unique for each jurisdiction and legal structure filing

These values are sourced from GLIEF (External). These ELF codes are mapped to the legal structure
values.

Background Analysis:

Performed external and internal research on some values like Business Trust, Informal Organization,
REIT, Investment Trust to understand if they are truly legal structures or not. The research was done
firstly by understanding these values (extensive understanding on Trust, informal organisation) and
later by looking at parties present in EPIC which were tagged to these legal structure values and also
verified the same externally.

Conclusion: Business trust and Investment trust merged as a Sub type under Trust and also included
Statutory trust as another sub type.

Informal Organisation, Religious Organisation, REIT are not form of a legal structure. Hence Informal
organisation ELF codes are tagged to “Association”; Religious Organisation moved as a value under
“Org type”

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