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Business Standardization Act
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Short Title Business Standardization Act
Long Title A Law to standardize business accounts, set general rules for business founding and closing, and elaborate on large firm management.
Enacted June 14, 2015
Codification
Law Number 2015-II-7
UTC Parts(s) Amended 12 UTC
Legislative History
  • Framer(s): Aaron Ehtya; Howard Coleson
  • Cosponsor(s): Clark McDearny, Anna Antoniou; Bradford Durand


The Business Standardization Act was a law created by two prominent businessmen, Aaron Ehtya (President of the Chamber of Commerce, CEO of General Media/General Defense) and Howard Coleson (CEO of Investment Industries), who both also served as Administrators. It set up six different types of private institutions that could exist in the Triumvirate as recognized by the Department of Commerce for registration purposes:

Institution Public or Private Basic Definition In Charge
Company Private Basic business Singular owner
Partnership Private Basic business with more than one owner Owners/Partners
Private Bank Private Bank owned by private owner(s) Owners/Partners
Corporation Public Business that is publicly traded CEO/CEO and Board of Directors, Elected by shareholders
Corporate Bank Public Bank that is publicly traded CEO/CEO and Board of Directors, Elected by shareholders
Non-Profit "Private" Not for profit, for a cause or an organization (such as a political party) Depends...

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