Group items tagged

an association of beneficiaries.

A trustee (custodian) for the CHM would be elected by the representatives

to oversee the legal operation of a collective entity

The representatives would also appoint a Manager, for a parallel partnership venture, to identify opportunities to develop the common pool resource in accord with a transparent revenue-sharing formula

Each representative would have power to exercise a veto with regard to the resource development proposal(s) circulated by the manager.

Once an agreed formula (non-vetoed by the countries) emerged for recognizing needed inputs, and for overall revenue-sharing, the manager of the nondominium partnership would arrange open tenders to seek economic partners to maximize the value of the common pool resources.

Revenues from ensuing activities would be distributed to the association members on the originally-agreed basis

Oversight of compliance would rest with the nondominium’s trustee

Ostrom’s key principles of successful collective choice agreements and monitoring by independent auditors.

Moreover, it does not confer the active power of control held under common law by a Trustee on behalf of beneficiaries,

the proposed negative or passive veto right of stewardship differs fundamentally from conventional property rights of absolute ownership and temporary use under Condominium

The Caspian Partnership agreement would comprise a master framework agreement within which a myriad of associative agreements between the Caspian littoral nations individually or severally would be registered.”

encourage Ostrom’s user association-based systems of economic governance

"Areas recognized as being the heritage of mankind are defined by treaties as falling outside of nation-state jurisdiction and ownership, and are to be instead developed on a basis that benefits all human beings

the combination of Elinor Ostrom’s economic governance strategies with nondominium legal structures can lead to a new basis for common pool resources to be developed on a basis benefiting all of humanity.