How do you know that we really will allow you to make your own decisions and will not take away the fruits of your labour when you have made all the right decisions and built a profitable business?
How do we guarantee in It’s built into our constitution!
That’s where El is unique. Because its purpose in life is to nurture entrepreneurial start-ups and train managers and, most importantly, to let them learn from their mistakes, the El constitution gives El no power to overrule the decisions of management except to protect the company in case of a critical threat. So you can continue – for ever more – to: set policy, hire and fire, operate the bank accounts, manage the assets – and decide how much the company should pay to you.
There are only 4 circumstances in which El’s constitution allows it to overrule the decisions of management:
- a revenue authority claims you are the owner of the company and attempts to tax you on its profits;
- a creditor claims you are the owner of the company and attempts to attach its assets to pay your debts;
- you get the company involved in crime;
- you don’t pay your membership dues.
There is also one circumstance where you and El may part company. If we are convinced that you have deliberately caused damage to another El member, we shall require you to purchase all of El’s shares in your company at their current net equity value and, if you fail or refuse to do so, shall wind up the company.
El has two divisions.
The non-profit division is headed by Entrepreneurs Institute Ltd, a Hong Kong non-profit company limited by guarantee. Each member of the company undertakes to contribute a maximum amount of HK$100.00 (approximately US$12.82) if required towards the liabilities of the company if it is wound up insolvent. That is the only financial obligation of membership of El.
The primary object of the Institute is:
to nurture entrepreneurs and managers, to assist them in overcoming the obstacles to independence in business and to train, develop and nurture in them the skills, experience and other qualities required to create successful, independent entrepreneurs and businessmen and businesswomen.
The Corporate Division of the Institute comprises its Group Members. A Group Member of the Institute is any company in which Entrepreneurs International Ltd holds one or more shares. Entrepreneurs International Ltd is a wholly-owned subsidiary of the nonprofit company, incorporated in Hong Kong with similar objects to the non-profit, and is the forum in which the principles taught and resources provided by the Institute are put into practice in real life.
Classes of Membership
There are four classes of membership of El:
l. Ordinary Members. Ordinary membership is free of charge and open to any person who is interested in learning and promoting the lnstitute’s objects. Ordinary membership may be acquired by individuals (individual membership) and by corporations (corporate membership).
2. Premium Members are members (individual or corporate) who have purchased the El e-book or guide “Growing your Personal Business” or other paid study materials. (See page “Study Materials”). All sums paid for purchase of study materials are refunded in full by credit against the Group Membership fees paid by a Group Member when the Premium Member is appointed manager of a Group Member.
3. Special Members are either:
a. Sponsor Members who have sponsored seminars, tutorials or other resources provided by the Institute or scholarships or bursaries to struggling entrepreneurs or their Group Member companies; or
b. Honorary Members who are personalities who are able by their association with El to deliver benefits other than financial for the Institute and its members.
4. Group Members are the companies in which Entrepreneurs International Ltd holds one or more shares. Group Members pay a fee of US$5,000 per year plus 5% of their profits annually subject to a rebate for any purchases of study materials made by a Premium Member who becomes a manager of that Group Member.
Click here to see a graphic chart of the Membership Structure.
If you would like to view the Articles of Association of Entrepreneurs Institute Ltd. (the Ultimate Holding Company) and/or Entrepreneurs International Ltd. (the Corporate Holding Company), please click here to go to the Contact Us page and check the appropriate box.