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A reminder to all of us of why we’re here…

Intercompany Agreements

21 September 2022

You’ve probably seen the news story that Yvon Chouinard, the founder of Patagonia, has given his company to a charitable trust - which may amount to around $100 m a year.

Coincidentally, I recently posted about Yvon Chouinard, gratuitously using a picture of him to illustrate the concept of ‘legal anchors’ in transfer pricing. But that’s not why I think this week’s news is an important message for TP professionals.

I think it’s a reminder to all of us of why we’re here.

If you’re anything like me, you’re a bundle of conflicting thoughts and emotions most of the time – both negative and positive.

On the negative side of the ledger, it’s tempting to see news like this, and just say ‘yes sure, when I’m a billionaire I will do a Bill Gates and give away millions to good causes.’

This negative side is also responsible for a scarcity mentality, and for disproportionately worrying about our own interests. And also for service providers who create unnecessary complexity, or who turn a blind eye to the impact of issues outside their own sphere of competence.

On the positive side, is the ability to see our work as an opportunity to give. This is not about making dramatic donations in public.

It's about how we do our work, every day – from a place of genuine caring.

Even if our jobs are as unsexy as being a ‘corporate plumber’ for the tax, transfer pricing and legal affairs of multinational businesses.

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Article by
Paul Sutton
LCN Legal Co-Founder

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