Do We Want to Track Non-Economic Properties of Securities?

[JSv4]

Per Issue #56, importing comments / suggestions to our static Google Doc into GitHub for discussion

@ashawber raised a number of properties for given security types that would likely be of interest to many users of the various cap table platforms.

For StockClasses:

1. Transfer Restrictions (e.g. ROFR),
2. Dividend Terms,
3. Pay-to-Play terms,
4. Key Protective Provisions,
5. Redemption,
6. Board Designation Rights,
7. Round Type (e.g. 1st round, up round, down round, flat, recap),
8. Registration Rights,
9. Management Rights,
10. Key Information Rights,
11. Drag Along Terms

For Convertibles:

1. MFN
2. Side letters associated with the convertible

For Warrants

1. An option to tie the issuance of this warrant to another security, or whether it is standalone. Warrants can be issued alongside convertible notes and preferred stock, for example. But they can also be issued as standalone or in connection with debt offerings as well.

[JSv4]

Interesting suggestion. A lot of these would be hard to standardize, so you'd need someone to agreed on how to structure and standardize a lot of these data points. Even then, there's a ton of variation on how you can paper this stuff, so it could be really hard to choose a specific property's value, even we had a set of standards.

I think this could be a good discussion for the Standards Group, but, I suspect some of this will be too difficult to get enough alignment on to truly standardize.

This would definitely be out of scope for the v1 release though.