3min chapter

The Ownership Economy cover image

Episode 055 - Steward-Ownership, Purpose-Trusts, and Exiting to Community with Zoe Schlag, Co-Founder and Managing Partner at Common Trust

The Ownership Economy

CHAPTER

Employee Ownership Trust or Perpetual Purpose Trust?

A perpetual purpose trust is an entirely different legal vehicle. It comes from kind of the legal lineage of trust in a state planning as a trust. Employee ownership typically refers to a business having a mechanism by which employees can participate in governance. Steward ownership has the two principles that I said at the beginning: one, profits of the business serve purpose, and two, independent governance.

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