Jon ?, U Oslo:
Virtual organizations contain different legal entities, presenting as a single entity. Have inner life and externally visible life. [How is this different from a physical corporation?]
4 stages: business opportunity, constitutional phase, operational phase, closing phase.
Trust plays an important role. Consider precontractural liability, good faith, disclosure.
Mike C, HP: Glimpses into role of trust services; elements need to be backed up by 3rd party trust. 3 types: trust establishment, transaction trust (e.g. escrow), accountability/audit (records). Trusted time service, trusted storage service. ... Liability a big issue.
Not specifically part of the legal process, but is an underlying value of the legal process. Legal regime relies on existence of trust, with remedies to corect transgressions.