If tokens are issued to represent votes for a private company are they considered securities by the SEC?
I want to create a legal entity, like a trust, that will appoint board members who oversee a private company. Tokens will be issued to represent votes for these purposes as well as rights to a share of company profits.
The company would be wholly owned by the trust, and legal matters/decisions like the appointment of board members could only be affected by votes from token holders.
I would disseminate profits by creating a "pool" from which token holders would be able to claim their share periodically, for example quarterly.