Mount Vema has introduced a new policy that establishes some economic barriers to entry. The barrier is a cost that must be incurred by a new entrant into the Mount Vema Market when incumbents do not have or have not had to incur.
The policy was introduced to protect those who come first, such as distributors or retailers, trademarks, servicemarks, patents owners and the supply chains. The policy is part of a plan to support those companies who are joining the project at this crucial stages of development.
Companies will need distributor agreements, an exclusive agreement which must be made with licensed distributors or licensed retailers. Potential entrants will require access to equally efficient production technology as the one already in use in order to freely enter the market. Trademarks, Servicemarks and Patents owners have the legal right to stop other firms producing a product for a given period of time, and so restrict entry into the market. Also exclusive agreements with key links in the supply chain will be required.
Mount Vema will be a small market, but the key is to be one step ahead and identify the opportunities before the market catches up. In this type of environment, the early investors always enjoy the rewards.
Considering that for the economy to work just in terms of management of its natural resource (fish), a single district will provide accommodation to 25,000 people, which is roughly the number of accommodations allocated for each district that will total 250,000+ residents.
These are the residents that will manage seafood production, distribution, sales and marketing to the world, revenues, investments, maintenance of the fisheries infrastructures, including ships. They will all need to do their daily shopping, banking, take children to school, socialize and be entertained from time to time.
If you are a business serving 250,000+ customers including visitors, spending just about 500 golles a month each, that can generate more than 12.5 million golles (about $25 million dollars) every month, with some fees and expenses maybe just about 10 million golles a month that will be shared between government and traders.
Small income for some, but steady and reliable income for others. These figures do not include the real estate market, or any other sector. So if you are a good businessman or businesswoman, you could aim to secure at least a share of this income. A business generating at least 500,000 golles a month ($1 million dollars or $12 million US dollars a year) can go a long way.
Vema Seamount Legislation
The Statutory Laws of the Kingdom of Mount Vema
Law of the Sea Treaty (United Nations Convention on the Law of the Sea)
MARPOL 73/78 (International Convention for the Prevention of Pollution from Ships)
The Vienna Convention on Diplomatic Relations of 1961
The Vienna Convention on Consular Relations 1963
The Right to Self-Determination
Many believe because our community is not a member of the United Nations and is only just over a decade old, doing business with the Kingdom of Mount Vema is not possible for foreign nationals and foreign companies seeking to take advantage of the business opportunities the floating city project is creating. Nothing could be further from the truth. The territory doesn't need a United Nations membership to function as a sovereign territory, or to exercise its inalienable right for self-determination