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OpenCorporates & Open Company Data
Chris Taggart, Co-Founder & CEO
Hidden Money, Hidden Resources
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The largest open database of
companies in the world
Hidden Money, Hidden Resources
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why?
Hidden Money, Hidden Resources
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Because…
the corporate world is a complex
place
Hidden Money, Hidden Resources
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… and legal entities are the ground
truth of the corporate world
Pinnacle Sweden AB
Facebook
Inc
Edge Network
Services Limited
Vitesse LLC
Andale Acquisition Corp
Facebook Operations LLC
Facebook Ireland
Limited
Hidden Money, Hidden Resources
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… and legal entities are the ground
truth of the corporate world
Facebook
Inc
Edge Network
Services Limited
Facebook Ireland
Limited
Hidden Money, Hidden Resources
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…public records need to be ‘desiloed’
Hidden Money, Hidden Resources
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…we live in a data-driven world
Hidden Money, Hidden Resources
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open
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Open is ‘better’ than closed
Better for transparency
Better for innovation
Better for competition
Better for sharing (especially crossorganisation or cross-border)
Better for efficiency
Hidden Money, Hidden Resources
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…and the data is hard to get
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most people
don’t care
about ‘open’
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http://www.flickr.com/photos/x-ray_delta_one/8493335701/sizes/l/in/photostream/
But open has a secret weapon
it’s better
quality too
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Common proprietary data quality
issues
Problem
Cause
Data accuracy
Data is re-keyed. Few eyeballs. Often little
downside to lying
Gaps in data
High (& often duplicated) cost of data entry.
Limited to payers
Lack of granularity
Legacy systems/data models hard to re-engineer
in closed world
Errors go uncorrected
Few feedback mechanisms
Black box/No provenance
Can’t reveal (sometimes dubious) sources.
Limits usefulness/trust
Isolated
Proprietary IDs are internal identifiers & are
barriers to sharing & improved data quality
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Open identifiers particularly
important: Global LEI
Global Legal Entity Identifier landmark in identifiers
Maps 1:1 with Legal Entities
Data is free of charge and IP Free – cost borne by
registering entity. Public good and improved quality
Public benefit – Global LEI Foundation set up by
Financial Stability Board, overseen by regulators
Initially designed to solve identifier problems in
financial markets, but being investigated by other
regulators too
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