{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/token-holder-rights",
 "identifier": "kaal:entity:token-holder-rights",
 "name": "Token holder rights",
 "termCode": "token-holder-rights",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/token-holder-rights.md",
 "sha256": "416bf633c4fdaf22c1517effd95927f78ad854053c9e6f0d2541b234cbb796e4",
 "additionalProperty": [
  {
   "@type": "PropertyValue",
   "name": "status",
   "value": "derived"
  },
  {
   "@type": "PropertyValue",
   "name": "claim_count",
   "value": 2
  },
  {
   "@type": "PropertyValue",
   "name": "work_count",
   "value": 1
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2017",
    "2017"
   ]
  },
  {
   "@type": "PropertyValue",
   "name": "non_current_claims",
   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3067615-019",
   "identifier": "kaal:claim:3067615-019",
   "text": "Token holders, unlike shareholders in the traditional corporate infrastructure, cannot vote for or against directors or nominate directors, so ordinary ICO investors have no governance channel and simply must trust the promoters and their business intent.",
   "abstract": "Further limitations for token holders that amount to significant risk factors include token holders' inability, unlike shareholders in the traditional infrastructure, to vote for or against directors or to nominate directors.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615",
   "datePublished": "2017",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "typical ICO token structures",
    "ordinary investors as distinct from institutional pre-sale investors"
   ],
   "source_pdf_sha256": "164ce15b9eb1e8847ebcb073f5b23a96b4974ad0308d77469a9455d4a1ebeb38",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3067615-020",
   "identifier": "kaal:claim:3067615-020",
   "text": "The only real control power available to token holders is the decision to hold or sell their tokens, and even that exit right may be unavailable until the token is fully listed on an exchange.",
   "abstract": "The only real control power for token holders is their decision to hold or sell their tokens and even that may be limited until the token is fully listed on an exchange.",
   "citation": "Wulf A. Kaal, Marco Dell'Erba, Initial Coin Offerings Emerging Practices, Risk Factors, and Red Flags (2017). SSRN: https://ssrn.com/abstract=3067615",
   "datePublished": "2017",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "typical ICO token structures",
    "period before full exchange listing"
   ],
   "source_pdf_sha256": "164ce15b9eb1e8847ebcb073f5b23a96b4974ad0308d77469a9455d4a1ebeb38",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'token-holder-rights'. Derived node: a roster, not an adjudicated definition."
}