3 ms·
LLCs do not require rights be assigned fairly to all shareholders if the operating agreement and by-laws say otherwise. This is the case with OpenAI, where the
by cthalupa 3y ago
LLCs do not require rights be assigned fairly to all shareholders if the operating agreement and by-laws say otherwise. This is the case with OpenAI, where the operating agreement effectively makes the fiduciary duty of the for-profit the accomplishment of the non-profit's charter. The pinkish purpleish block of text on the page you linked goes into more detail here.
(Remember, fiduciary does not necessarily have anything to do with money)