[{"data":1,"prerenderedAt":661},["ShallowReactive",2],{"navigation_docs":3,"-diligence-corporate-legal":108,"-diligence-corporate-legal-surround":656},[4,9,48,52,57,62,67,72],{"title":5,"path":6,"stem":7,"icon":8},"Company overview","/why-now","1.why-now","i-lucide-building-2",{"title":10,"path":11,"stem":12,"children":13},"Product","/product","2.product",[14,18,23,28,33,38,43],{"title":15,"path":11,"stem":16,"icon":17},"Product & technology","2.product/index","i-lucide-workflow",{"title":19,"path":20,"stem":21,"icon":22},"Issuance Studio","/product/issuance-studio","2.product/1.issuance-studio","i-lucide-layers-3",{"title":24,"path":25,"stem":26,"icon":27},"Steer ALM","/product/alm","2.product/2.alm","i-lucide-chart-no-axes-combined",{"title":29,"path":30,"stem":31,"icon":32},"Steer Network","/product/network","2.product/3.network","i-lucide-network",{"title":34,"path":35,"stem":36,"icon":37},"Steer IDE","/product/ide","2.product/4.ide","i-lucide-code-xml",{"title":39,"path":40,"stem":41,"icon":42},"Steer Prime","/product/prime","2.product/5.prime","i-lucide-briefcase-business",{"title":44,"path":45,"stem":46,"icon":47},"Matador transaction policy","/product/matador","2.product/6.matador","i-lucide-shield-check",{"title":49,"path":50,"stem":51,"icon":27},"Traction","/proof","4.proof",{"title":53,"path":54,"stem":55,"icon":56},"Financials","/financials","5.financials","i-lucide-chart-column-increasing",{"title":58,"path":59,"stem":60,"icon":61},"Commercial engine","/business","6.business","i-lucide-badge-dollar-sign",{"title":63,"path":64,"stem":65,"icon":66},"Team","/team","7.team","i-lucide-users",{"title":68,"path":69,"stem":70,"icon":71},"Financing","/raise","8.raise","i-lucide-milestone",{"title":73,"path":74,"stem":75,"children":76},"Diligence","/diligence","9.diligence",[77,81,85,90,94,99,103],{"title":78,"path":74,"stem":79,"icon":80},"Documents","9.diligence/index","i-lucide-folder-open",{"title":82,"path":83,"stem":84,"icon":17},"Product & technical","/diligence/product-technical","9.diligence/1.product-technical",{"title":86,"path":87,"stem":88,"icon":89},"Commercial & financial","/diligence/commercial-financial","9.diligence/2.commercial-financial","i-lucide-receipt-text",{"title":91,"path":92,"stem":93,"icon":47},"Security & operations","/diligence/security-operations","9.diligence/3.security-operations",{"title":95,"path":96,"stem":97,"icon":98},"Corporate & legal","/diligence/corporate-legal","9.diligence/4.corporate-legal","i-lucide-landmark",{"title":100,"path":101,"stem":102,"icon":27},"Forecast & runway","/diligence/forecast-and-runway","9.diligence/5.forecast-and-runway",{"title":104,"path":105,"stem":106,"icon":107},"Token economics","/diligence/token-economics","9.diligence/6.token-economics","i-lucide-coins",{"id":109,"title":110,"body":111,"description":642,"extension":643,"links":644,"meta":645,"navigation":653,"path":96,"seo":654,"stem":97,"__hash__":655},"docs/9.diligence/4.corporate-legal.md","Corporate & legal documents",{"type":112,"value":113,"toc":632},"minimark",[114,119,123,231,234,238,241,320,324,327,384,387,391,452,455,459,462,518,522,627],[115,116,118],"h2",{"id":117},"corporate-structure","Corporate structure",[120,121,122],"p",{},"Steer uses four entities to separate ecosystem governance, token administration, commercial operations, and engineering and intellectual property. Registry references are taken from the linked incorporation artifacts, which also record legal form and formation date. Operating roles are management-reported.",[124,125,126,148],"table",{},[127,128,129],"thead",{},[130,131,132,136,139,142,145],"tr",{},[133,134,135],"th",{},"Entity",[133,137,138],{},"Jurisdiction",[133,140,141],{},"Registry reference",[133,143,144],{},"Operating role",[133,146,147],{},"Artifact",[149,150,151,173,192,212],"tbody",{},[130,152,153,157,160,163,166],{},[154,155,156],"td",{},"Steer Foundation",[154,158,159],{},"Cayman Islands",[154,161,162],{},"CP-418776",[154,164,165],{},"Ecosystem governance, grants, and ecosystem treasury oversight",[154,167,168],{},[169,170,172],"a",{"href":171},"/entity_docs/foundation-Incorporation.pdf","Certificate",[130,174,175,178,181,184,187],{},[154,176,177],{},"Steer Digital Assets Ltd.",[154,179,180],{},"British Virgin Islands",[154,182,183],{},"2172619",[154,185,186],{},"Token lifecycle administration and reserve management",[154,188,189],{},[169,190,172],{"href":191},"/entity_docs/bvi-%20Incorporation.pdf",[130,193,194,197,200,203,206],{},[154,195,196],{},"Steer Labs Inc.",[154,198,199],{},"Panama",[154,201,202],{},"Mercantile Record 155722340",[154,204,205],{},"Customer contracting, billing, and commercial operations",[154,207,208],{},[169,209,211],{"href":210},"/entity_docs/panama.png","Registry certificate",[130,213,214,217,220,223,226],{},[154,215,216],{},"Ciphergrid Labs PTE. LTD.",[154,218,219],{},"Singapore",[154,221,222],{},"UEN 202347858N",[154,224,225],{},"Engineering, security, DevOps, and core intellectual property",[154,227,228],{},[169,229,172],{"href":230},"/entity_docs/devco-incorporation.pdf",[120,232,233],{},"The linked artifacts establish formation and legal form as of their issue dates. Current good standing, ownership, directors, officers, and signing authority require current registry extracts and statutory records.",[115,235,237],{"id":236},"intellectual-property-and-intercompany-structure","Intellectual property and intercompany structure",[120,239,240],{},"The company’s current structure assigns core protocol engineering and intellectual property to Ciphergrid Labs, with operating and commercial rights documented across the affiliated entities.",[124,242,243,256],{},[127,244,245],{},[130,246,247,250,253],{},[133,248,249],{},"Material",[133,251,252],{},"Purpose",[133,254,255],{},"Access",[149,257,258,269,280,290,300,310],{},[130,259,260,263,266],{},[154,261,262],{},"Founder, employee, and contractor IP assignments",[154,264,265],{},"Establish contribution and ownership chain",[154,267,268],{},"Restricted",[130,270,271,274,277],{},[154,272,273],{},"Repository and license register",[154,275,276],{},"Map code, license, version, and owning entity",[154,278,279],{},"NDA",[130,281,282,285,288],{},[154,283,284],{},"Ciphergrid Labs ↔ Steer Labs services agreement",[154,286,287],{},"Engineering services and commercial-deployment support",[154,289,268],{},[130,291,292,295,298],{},[154,293,294],{},"Ciphergrid Labs ↔ Steer Labs IP license",[154,296,297],{},"Production deployment and commercialization rights",[154,299,268],{},[130,301,302,305,308],{},[154,303,304],{},"Ciphergrid Labs ↔ Steer Digital Assets token-development license",[154,306,307],{},"Token-related development and confidentiality",[154,309,268],{},[130,311,312,315,318],{},[154,313,314],{},"Trademark, domain, and brand register",[154,316,317],{},"Ownership and operating rights",[154,319,279],{},[115,321,323],{"id":322},"governance-treasury-and-authority","Governance, treasury, and authority",[120,325,326],{},"Management materials describe the following responsibility and treasury-control model:",[124,328,329,342],{},[127,330,331],{},[130,332,333,336,339],{},[133,334,335],{},"Area",[133,337,338],{},"Responsible entity",[133,340,341],{},"Reported control model",[149,343,344,354,364,374],{},[130,345,346,349,351],{},[154,347,348],{},"Ecosystem governance and grants",[154,350,156],{},[154,352,353],{},"Board oversight and multisignature treasury approval",[130,355,356,359,361],{},[154,357,358],{},"Token lifecycle and protocol reserves",[154,360,177],{},[154,362,363],{},"Entity-level multisignature approvals for issuance and reserve activity",[130,365,366,369,371],{},[154,367,368],{},"Customer contracts and commercial treasury",[154,370,196],{},[154,372,373],{},"Commercial contracting authority and finance-approved treasury transactions",[130,375,376,379,381],{},[154,377,378],{},"Engineering, security, and operating expenditure",[154,380,216],{},[154,382,383],{},"Operating treasury policy and multisignature approvals",[120,385,386],{},"Board records, delegated-authority schedules, treasury policies, and signer records control the legal authority analysis. Wallet addresses, signer identities, and recovery procedures are not reproduced in this room.",[115,388,390],{"id":389},"capitalization-and-financing","Capitalization and financing",[124,392,393,401],{},[127,394,395],{},[130,396,397,399],{},[133,398,249],{},[133,400,255],{},[149,402,403,410,417,424,431,438,445],{},[130,404,405,408],{},[154,406,407],{},"Fully diluted capitalization by entity",[154,409,268],{},[130,411,412,415],{},[154,413,414],{},"Shareholder and member registers",[154,416,268],{},[130,418,419,422],{},[154,420,421],{},"SAFEs, notes, warrants, side letters, and amendments",[154,423,268],{},[130,425,426,429],{},[154,427,428],{},"Option plan, grants, vesting, and available pool",[154,430,268],{},[130,432,433,436],{},[154,434,435],{},"Prior financing history and investor rights",[154,437,268],{},[130,439,440,443],{},[154,441,442],{},"Current $3M SAFE, token warrant, and approvals",[154,444,268],{},[130,446,447,450],{},[154,448,449],{},"Token rights associated with financings",[154,451,268],{},[120,453,454],{},"These documents are shared only with qualified recipients because they contain investor, ownership, and personal information.",[115,456,458],{"id":457},"product-and-regulatory-materials","Product and regulatory materials",[120,460,461],{},"Steer’s legal treatment depends on the product, wrapper, entity, jurisdiction, custody model, operator discretion, distribution path, and token involvement. The regulatory folder therefore organizes review by product rather than relying on one universal characterization.",[124,463,464,472],{},[127,465,466],{},[130,467,468,470],{},[133,469,249],{},[133,471,255],{},[149,473,474,481,489,496,504,511],{},[130,475,476,479],{},[154,477,478],{},"Product and entity responsibility matrix",[154,480,279],{},[130,482,483,486],{},[154,484,485],{},"Jurisdiction, eligibility, and KYC/KYB analysis",[154,487,488],{},"Restricted legal review",[130,490,491,494],{},[154,492,493],{},"Custody, discretion, advisory, brokerage, fund, derivatives, and money-transmission analysis",[154,495,488],{},[130,497,498,501],{},[154,499,500],{},"Product terms, disclosures, risk factors, and governing law",[154,502,503],{},"NDA / restricted",[130,505,506,509],{},[154,507,508],{},"Distribution-partner responsibility matrix",[154,510,279],{},[130,512,513,516],{},[154,514,515],{},"Token utility, allocation, vesting, governance, and regulatory analysis",[154,517,488],{},[115,519,521],{"id":520},"corporate-document-index","Corporate document index",[124,523,524,539],{},[127,525,526],{},[130,527,528,531,534,536],{},[133,529,530],{},"Folder",[133,532,533],{},"Included records",[133,535,255],{},[133,537,538],{},"Availability",[149,540,541,558,574,591,607],{},[130,542,543,546,549,552],{},[154,544,545],{},"Entity formation and standing",[154,547,548],{},"Incorporation, registry, good standing, and constitutional records",[154,550,551],{},"Link access / NDA",[154,553,554,557],{},[169,555,118],{"href":556},"#corporate-structure","; current standing records controlled",[130,559,560,563,566,568],{},[154,561,562],{},"Ownership and governance",[154,564,565],{},"Ownership chart, statutory registers, board records, and authority",[154,567,268],{},[154,569,570,573],{},[169,571,323],{"href":572},"#governance-treasury-and-authority","; statutory records controlled",[130,575,576,579,582,584],{},[154,577,578],{},"IP and intercompany",[154,580,581],{},"Assignments, licenses, services, repositories, and brands",[154,583,503],{},[154,585,586,590],{},[169,587,589],{"href":588},"#intellectual-property-and-intercompany-structure","IP and intercompany structure","; executed agreements controlled",[130,592,593,596,599,601],{},[154,594,595],{},"Financing and capitalization",[154,597,598],{},"Cap table, instruments, rights, grants, approvals, and closing records",[154,600,268],{},[154,602,603,606],{},[169,604,390],{"href":605},"#capitalization-and-financing","; detailed financing records controlled",[130,608,609,612,615,617],{},[154,610,611],{},"Product and regulatory",[154,613,614],{},"Product-specific legal analyses, terms, eligibility, and distribution",[154,616,268],{},[154,618,619,622,623,626],{},[169,620,458],{"href":621},"#product-and-regulatory-materials","; ",[169,624,625],{"href":105},"token design","; legal analyses controlled",[120,628,629],{},[169,630,631],{"href":74},"Back to Documents →",{"title":633,"searchDepth":634,"depth":634,"links":635},"",2,[636,637,638,639,640,641],{"id":117,"depth":634,"text":118},{"id":236,"depth":634,"text":237},{"id":322,"depth":634,"text":323},{"id":389,"depth":634,"text":390},{"id":457,"depth":634,"text":458},{"id":520,"depth":634,"text":521},"Entity structure, incorporation records, governance, IP, capitalization, treasury, and regulatory materials","md",null,{"updated":646,"confidentiality":647,"tags":648},"2026-07-17","internal",[649,650,651,652],"diligence","corporate","legal","entities",{"title":95,"icon":98},{"title":110,"description":642},"gaYsyvLUlGOXQMfo-UYfKl6-6-0qo95RFUJEYEaAMkM",[657,659],{"title":91,"path":92,"stem":93,"description":658,"icon":47,"children":-1},"Independent reviews, smart-contract controls, infrastructure operations, Matador assurance, and restricted security materials",{"title":100,"path":101,"stem":102,"description":660,"icon":27,"children":-1},"March 2026 planning model for managed capital, revenue, operating spend, and forward runway",1784300475394]