Welcome to the KoreConX blog. You are probably wondering who we are and what we do?
As our first blog, we wanted to start by telling you our story, explaining what we do and our target audience.
First lets start with our company name. For us, it was important to select a name that would to speak to everyone that would use our platform. We faced major challenges since the audience we serve is global and have similar but different requirements. See the info-graphic below to understand the attributes, stakeholders, and eco-system our platform supports.
At the Kore of our business, is the legal entity that needs to reduce their regulatory risks. Our secure patent-pending technology platform was developed to help entities manage their corporate records while connecting them to valuable tools and services in the capital markets, private equity, mergers and acquisitions (M&A), and crowdfunding industries. The infrastructure platform we provide connects (ConX) the eco-systems together for entities to effectively and efficiently manage their business while maintaining proper governance, transparency and compliance.
We are at the Kore of the eco-systems where our platform ConX all the pieces…hence KoreConX was born.
“I believe that KoreConX provides real value to our company and our shareholders. For us it provides an integrated, secure, transparent and efficient way for the management of WAFU to interact with its shareholders and its board of directors. The time and costs saving alone make it a no brainer for a small company like ours which currently has 20-30 shareholders but which is expecting to expand to more than 50 shareholders as a result of our upcoming equity crowdfunding round.” per Gil-Michel Garcia, CEO, WAFU
To understand KoreConX better let’s start with the users (the people) we support in our platform. Each entity or organization is run by key people such as the President, CEO, CFO, CCO, COO, Corporate Secretary, IR (Investor Relations), Partner, or Executive Director (collectively known as the “Management”). To make effective decisions, the Management works alongside the external users (people) such as the Lawyers, Accountants, Board of Directors, Members and Shareholders. Together the internal and external users make up the Stakeholders of an entity.
Each of these Stakeholders will want to use the KoreConX platform for different functions that are inherent to their position within their entity.
The one thing that all our users have in common is their connection to an entity (in our world an entity is our “Client”). An entity is governed by a legal structure that all users must work within. The types of entities that use our platform are Private Companies, Non-Profit Organizations, Public Listed Company, Associations, Condominium and Strata Corporations.
The legal structure of each entity is represented by the articles, bylaws and minute book that dictate how the Stakeholders are to run the business; how to conduct themselves in their organization; and acts as a historical record.
Stakeholders engage the KoreConX platform for the ability to: Manage their information more effectively and securely; Organize it so it can be understood and easily accessed by all; Share in a collaborative manner; and Communicate with all key Stakeholders in a secure environment.
KoreConX allows organizations to demonstrate that they are citizens of good governance, maintaining their compliance and being fully transparent to relevant Stakeholders.
Why is this all important? Our Clients need to appropriately manage corporate records because they may need to access capital via equity/debt investment; they may need to prepare for an M&A transaction; and/or they may wish to seek a public listing for their stock. It is also very important to properly manage these records to avoid regulatory risks or financial damages.
KoreConX is a multi-jurisdictional eco-system connector that facilitates efficient and effective management of corporate records in a secure online cloud. We are here to save our Clients time and money and facilitate good governance and compliance.
We are delighted to say that the CROWD helped us in the last mile of making our decision with our name “KoreConX”. Just further validating the power of the CROWD when you need help. Entrepreneurs not only can use the CROWD to access money, but could utilizing them to access new clients, partners or in our case feedback on the company name.
We are happy to present to you our new venture:
Visit us at www.koreconx.com to “Be the first” “all-in-one” (#BeTheFirst) to partner with us or to register, or see how we can help you.