Definition of Terms
Annual Meeting: Yearly gathering of all Subvert Co-op Members to elect the Subvert Co-op Board of Directors and make other major Decisions
Artist-Member: Member of the Subvert Co-op who sells music or merch through the Subvert Platform
Board of Directors: Elected governing body of the Subvert Co-op, responsible for strategic decisions and oversight
Bylaws: Formal written rules that govern the conduct and operations of the Subvert Co-op
Cooperative (Co-op): Business or other organization owned and operated by its members for their mutual benefit
Co-op Member: Artist, label, supporter or worker in the Subvert Co-op
Democratic Governance: A system of organizational management that empowers members to participate in decision-making processes.
Label-Member: Record label that is a member of the Subvert Co-op
Member Agreement: Legal document detailing the rights and responsibilities of Subvert Co-op Members
One Member, One Vote: Basic cooperative principle ensuring that each member has equal voting power in major decisions, regardless of their financial stake or length of membership
Ownership: Rights and responsibilities associated with financial and decision-making power
Ownership Assembly: Quarterly gathering of randomly selected Subvert Co-op Members to distribute Platform Shares
Ownership Dashboard: Tool in the Subvert Platform for Co-opMembers to track their Platform Shares and Subvert Platform metrics
Patronage: The use of Subvert’s services or participation in its activities by a member Patronage Activity Actions taken by Subvert Co-op Members on the Subvert Platform that may be rewarded with Platform Shares, including selling or buying releases
Platform Share: Units representing a measurement of a Member’s patronage activities
Preferred Shares: Shares in the Subvert Corporation that entail privileges in dividends and liquidity; reserved for fundraising
Quarterly Town Hall: Regular meetings where Subvert leadership updates Co-op Members on the Subvert Platform’s performance and gathers feedback
Release: A piece of digital music, physical media, or merch offered by artists and labels on the Subvert Platform
Sounding Board: Opt-in method for Subvert Co-op Members to provide input on strategic decisions related to the Subvert Platform
Special Meeting: Any meeting of Subvert Co-op Members called outside of Quarterly Town Halls and Annual Meetings to address urgent matters
Subvert Co-op: Member-owned entity that operates the Subvert Platform, comprising artists, labels, supporters, and workers
Subvert Corporation: Corporate entity of Subvert which, as planned, will own the code of the Subvert Platform and can issue preferred shares to investors
Subvert Development Agreement: Legal contract between the Subvert Co-op and the Subvert Corporation regarding use of the Subvert Platform
Subvert Model: Unique organizational and ownership structure developed by Subvert, combining cooperative and corporate entities
Subvert Platform: Online marketplace for artists and labels to sell releases to their supporters
Supporter-Member: Member of the Subvert Co-op who purchases releases on the Subvert Platform
User: Any individual utilizing Subvert’s platform. This includes both members of the Co-op and non-members
Worker-Member: Member of the Subvert Co-op who is employed by Subvert to develop the Subvert Platform