Vote NO on Proposition 71

Prop 71 exempts institute from "open meeting" laws

If passed by voters, Proposition 71 would let the proponents “Institute” to conduct secret, behind-closed-door negotiations with the very venture capitalists who bankrolled the initiative. Why would proponents exempt themselves from the “Open Meeting “ law which is specifically designed to stop backroom dealing with public money? (See Text of the initiative, Article I, Section 125281,05 (d), page 8)1

Reference

  1. 125281.05 Public and Financial Accountability Standards
    (d) Public Meeting Laws
    (3) The ICOC may conduct closed sessions as permitted by the Bagley-Keene Open Meeting Act, Government Code section 11126.  In addition, the ICOC may conduct closed sessions when it meets to consider or discuss:
    (B) Matters involving confidential intellectual property or work product, whether patentable or not, including, but not limited to, any formula, plan, pattern, process, tool, mechanism, compound, procedure, production data, or compilation of information, which is not patented, which is known only to certain individuals who are using it to fabricate, produce, or compound an article of trade or a service having commercial value and which gives its user an opportunity to obtain a business advantage over competitors who do not know it or use it.