Introductory Article
ARTICLES OF AGREEMENT
The Governments on whose behalf this Agreement is signed agree as follows:
INTRODUCTORY ARTICLE
The International Innovation Agency (hereinafter "the Agency") is established and shall operate in accordance with the provisions of this Agreement as originally adopted and subsequently amended.
To enable the Agency to conduct its operations and transactions, the Agency shall maintain a Financing Operation and a Business Consortium (hereinafter "the Business Consortium”). Membership in the Agency shall be reserved to fully fledged members of the World Sports Alliance Intergovernmental Organization (hereinafter " WSA”) and shall give right to participation in the Financing Operation.
Operations and transactions authorized by this Agreement shall be conducted through the Financing Operation, consisting in accordance with the provisions of this Agreement of the general reserve fund and the special reserve fund; except that operations involving productive projects shall be conducted through the Business Consortium in accordance with the provisions of this Agreement and the Business Consortium Protocols as originally adopted and subsequently amended.
The NK5 token (hereinafter "NK5”) shall be the digital utility token of the Agency. Grants shall be made in NK5 and, except as otherwise specifically provided, membership and access to productive projects authorized by this Agreement shall be effected through NK5.
All other operations and transactions on the account of the Agency involving the election of Managing Directors and the selection of productive projects other than those selected at the discretion of the Managing Director shall be conducted through the United Citizens Decentralized Autonomous Organization (hereinafter “the UNC-DAO”) in accordance with the provisions of this Agreement and the UNC-DAO Charter as originally adopted and subsequently amended.
The Agency, the WSA, the Business Consortium and the UNC-DAO together form the Innovation Alliance.
Last Updated: