Managing Global Entity Compliance: Pitfalls and Best Practices

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Caitlin: Hello, everyone, and welcome to today's webinar, "Managing Global Entity Compliance: Pitfalls and Best Practices." My name is Caitlin Alaburda, and I will be your moderator.

Joining us today are John LaPalomento and Rogier Bronk. John is a Global Subsidiary Management leader. He has been with CSC for more than 14 years. John works with GSM prospects to present an accurate and clear scope of services, including demonstrating CSC Entity Management. Rogier has worked across many different disciplines and with a wide variety of clients, ranging from large multinationals to private clients. With 25 years of experience, this has provided him with a broad understanding of client requirements that have been instrumental in helping them find the right solution to add value to their organizations. And with that, let's welcome John and Rogier.

John: Caitlin, thank you so much. Hey, Rogier, how are you this afternoon? Oh, Rogier, you might be on mute to start. I threw it over to you, Rogier.

Rogier: I'm very much looking forward to tackle this one with you today.

John: Awesome. Thank you.

Rogier: Yeah.

John: We want to thank everybody for sharing your time this morning, this afternoon, or this evening, wherever you are in the world, thank you very much. Again, my name is John LaPalomento and Rogier here, here with me. We're looking forward to sharing some information, talking a little bit about your needs and some of the concerns that we commonly hear about working internationally. And, of course, we're going to spend some time talking about CSC's Global Subsidiary Management solution.

So here with our agenda today we're going to start focusing on a little bit about who we are and what we do here at CSC. I would suspect that most of you know us a little bit or work with us in some capacity, but we're always happy to share. And we're always growing, we're always changing. In our 125 plus year legacy, there's been a lot of changes here at CSC, and we're happy to talk a little bit about an introduction. We're going to talk about global corporate governance and the industry landscape, what's happening around the world, some of the challenges that we commonly hear from our clients. We're going to tackle a few things upfront. I'll say the simplicity of working domestically in the U.S. versus working globally around the world, just to bring some illumination there.

We're going to spend plenty of time talking about CSC's Global Subsidiary Management solution, or you'll commonly hear us throw around the acronym GSM. We're going to talk about both our service solution for I'll say a proactive and centralized approach to your corporate secretarial needs around the world. But we're also going to set aside a little bit of time to talk about our supporting technology, our award-winning proprietary CSC Entity Management platform.

And we want to take full advantage of the Q&A widget today. Rogier and I both love for these discussions to be conversations with our audience, and your voice is the Q&A widget in the bottom part of your screen. So please hit it early, hit it often. We're here to answer your questions. We love to answer questions in the moment if they're relevant, or we'll be certainly saving time for the end. So go ahead and don't feel like you have to wait to populate that Q&A widget.

So a little bit about us, about CSC, Corporation Service Company. Of course, we are the world's leading provider of business administration and compliance solutions. We've been around for a long time. I'm sure most of you know that we were founded in 1899, celebrating our 125th anniversary this year, which we're very proud of certainly. We have our own teams around the world. When I started here, we were less than I believe 1,500 employees about 15 years ago, and over the years we've grown to greater than 8,000 employees around the world. I'm very proud to work for the company. We have just a wonderful, dedicated staff of knowledgeable, talented people who are here to serve you.

We are situated on five continents around the world, and we're trusted by some of the biggest and best organizations and companies around the world. More than 90% of the Fortune 500 use our services. Ninety percent of the 100 Best Global Brands use our services. And of course, right now, I'm talking about some of the biggest of big businesses, but we're also trusted by midsize and small businesses around the world as well. There's a lot of different things that we do and a lot of different verticals, but everything that we do is focused on making business easy for our clients based around the world.

Rogier: Yeah, the Barometer Report that we commissioned, we do it actually on an annual basis. Caitlin also mentioned that it's part of this webinar. So I highly recommend checking the report out if you can.

As I mentioned, we do this every single year. It's an independent research study among 3,000 (sic) general counsels and legal officers worldwide. And the report provides a good insight into what your colleagues around the globe face in terms of challenges from the regulatory landscape, but also trends are being discussed that are global or regional. For example, what came out of the report this year is that 54% of the respondents mentioned that they are going to either enter for the first time or expand their operations in LATAM, followed by North America. That number has always been the other way around. So it was kind of an interesting trend that we're seeing there. But, of course, it also highlights the importance of the combination between technology and the service delivery that is so much required on a global, regional, but also on a local basis.

Now John already mentioned we're going to take a look at the at the industry landscape, and I think most importantly we're going to take a look at the challenges that in-house legal teams face when managing the international entity portfolios, as well as a brief overview of the U.S. simplicity versus the international complexity. John, maybe you want to start by addressing maybe the registered agent concept and how we tackle this internationally.

John: Yeah. We thought this was an important little pit stop to make here along the lines. Of course, today we're focusing on our clients' needs globally, specifically outside of the United States, and we say that because so many of our clients are U.S.-based. While CSC is very much a global company, we've always been a U.S. company through and through, headquartered here in Wilmington, Delaware, and so many of our clients and I'm sure so many of you on the session today are here based in the U.S. So we want to take a quick pit stop here to talk about some of the differences and some of the nuances that we hear all the time in conversation.

It's very common that organizations will come to us and say, "CSC, you're our U.S. registered agent. We would like you to be our registered agent for all of our entities around the world." Well, first of all, we're here and we're happy to take on the support of your entities around the world, but the services certainly aren't registered agent services. The services that we provide globally, as part of our Global Subsidiary Management suite of services, are corporate secretarial in nature, and it's about taking a proactive and centralized approach to managing your corporate secretarial obligations.

The concept of registered agent is a very American concept. Now don't get me wrong. There are jurisdictions that use the phrase "registered agent" in the same capacity that we do here in the U.S. If you have Canadian extra-provincial registrations, we would act as your registered agent. If you have entities in the Cayman Islands or the British Virgin Islands or plenty of offshore jurisdictions, the concept of registered agent is an appointment. It might be a little bit different than the goal here in the U.S. of receiving service of process, receiving government notifications, but still it's a term that's used.

Most jurisdictions around the world don't use the term "registered agent." The appointments that we take on, if we're taking on appointments, is a registered office appointment, and oftentimes we're taking on appointments of director to satisfy residency requirements. Oftentimes we're taking on company secretary appointments to satisfy company secretary requirements. But when it comes to rolling off the tongue like "registered agent," the phrase "registered office" usually comes to mind. And it's not a registered agent appointment. It's not about receiving service of processes. This is not specifically about government notifications. The appointment of registered office is a domiciliation appointment, and it is creating your principal place of business where your physical minute books are held and so on and so forth.

So when understanding your needs around the world, don't make I'll say the pitfall of equating them to your needs here in the U.S. I wanted to make sure that we mention that upfront here today because we're going to be focusing the rest of our conversation on your global needs. There's quite a few nuances when working outside of the U.S., and it's going to vary from jurisdiction to jurisdiction. We're also going to be talking about the way regulations evolve and things change, and, of course, that can happen in any jurisdiction, the U.S. included.

A few things to understand when working internationally though, this is becoming more and more in focus for our American-based clientele, is the need for due diligence and heightened due diligence scrutiny as you see on the slide. The concepts of collecting due diligence to support anti-money laundering regulations and know your customer regulations, our regulations put on us, a service provider, to prove that we're working with good actors, good people, good organizations who aren't trying to do bad things in this world. And, of course, the concept of UBO or ultimate beneficial ownership registration around the world has become prevalent.

Now the U.S. Corporate Transparency Act, which is something that many of you are currently probably trying to sort out and figure out on your own here in the U.S., has brought some of this to the forefront for our U.S. customers. And please know that CSC does offer a full suite of services to assist with your Corporate Transparency Act services or filings. So if you have those needs, please feel free to reach out to any member of our customer service team or your customer solutions manager.

Rogier, anything to add?

Rogier: Yeah. You touched base on all important points, but it might be good to stress the fact that you mentioned KYC, AML. The KYC requirements for us, as a corporate and trust service provider, we fall under the broader umbrella of the financial industry regulations, right? So if our attendees are currently working with a law firm, they might not go through a rigorous KYC process as we do. We're bound by the financial industry regulations. So that might be something to be like, "Okay, what's happening here? Why is it all necessary?" But like you said, it's to make sure that the bad actors don't infiltrate in the portfolio that we're so proud of having. You saw the numbers before.

So it's something that we like to stress because also now it's on a global level. But also on a jurisdictional-specific level, KYC-related items can also be popping up and requested from time to time. So an enhanced process compared to working with law firms is definitely there. And, of course, we're protecting our clients as much as we can.

John: We had a question roll in here, and I think it's relevant while we're on that previous slide about the registered agent versus global services. A question came in saying, "Can you provide multiple places of business for a single entity, i.e., entities registered in multiple states or registered in the U.S. and abroad?"

And that is the hallmark of our services. If you have a United States entity, let's say a Delaware company that's registered to do business in 30 states, CSC, of course, can act as your registered agent in all of those states. Conversely, if you have a Delaware company that is also registered with branch registrations in different countries, let's say there's a branch registration in Portugal, known as a sucursal, or a branch registration in the UK, known as a UK establishment of a foreign company. CSC can take on appointment services in those jurisdictions as well. So this is either managing multiple entities in multiple jurisdictions or a single entity registered across multiple jurisdictions. Let's take it from there.

Rogier: Yeah. Okay. So international entity governance challenges, this slide has been now up since John was answering the question, and perhaps you see some items in there that are like, "Yeah, that's what I'm currently struggling with. It's a big challenge." Now managing an international entity portfolio presents very unique challenges, especially when you work with a variety of local providers. Law firms, maybe corporate and trust firms locally, they have their own set of rules for engagement.

So if we pick out a few, lack of budget certainty, that always stands out. Why do people come to CSC? They want to be extremely transparent in what they can expect for the annual compliance services. We provide all the services on a fixed fee basis. So if you're working with a law firm or other providers in country, they might do it on a time spent basis, so it's very hard to get budget certainty. And we know end of the year is coming up, so you will have those budgets conversations once more, and knowing what your spend is going to be in 2025 is for most of the clients that come to CSC a great eye-opener. They know exactly where they are at and what the budget needs to look like.

Now inaccurate up-to-date information, are you still using the latest documents and forms to file any of the requirements in country, or just are you using the ones that are stored in your computer for from last year?

So not being sure about the latest legislation brings me actually to how do we solve being on top of the changes in local legislation? As we mentioned, it's already complex enough, and then it also seems to be a moving target when we speak about the regulations in country John just mentioned the UBO filings. Some of them have only been in place three four years ago. So how do you maintain that, etc.

So a side step to that conversation is that most of the providers, if not all, have a fiduciary duty to inform its clients. Now you think you're mitigating your risk to your local provider, which in essence is true. But when it comes to updating local legislation, you're the one that needs to sift through either a newsletter that they forwarded to you or a mass email that might have started with tax regime is changing in your jurisdiction, so you're not really sure if it entails to your specific entity type. Or maybe you don't have an entity in that jurisdiction at all. So the way we are set up is that we are proactive in updating our clients based on that specific entity. If something is changing in a country, we will reach out proactively and update you about the change and how to manage that going forward.

Now security and data privacy issue comes also with the number of vendors that you're working with in country. Our solution is having one agreement in place. All the terms and conditions for all locations are mentioned in there. Data privacy, GDPR, all that is covered under one agreement. Maybe you had to renegotiate agreements in the past when GDPR came in play in Europe. Not necessary at CSC. It's one agreement.

So you see that there are many more bullet points that I can go over, and there's a lot. But the one thing that sticks out the most is, of course, risk mitigation, right? You want to be with a partner that takes away that risk from your plate and make sure that your entities remain in good legal standing, and that is contractual in place. Also the language is there. So that you can be rest assured that everything moves forward nice and slowly.

John: While we were talking about challenges, let's go back to that previous slide for a second.

Rogier: Yeah.

John: We had a question come in that is very relevant while we're talking about challenges. The question is, "If CSC is engaged to support all global entities, would we be required to go through KYC and AML collection in every jurisdiction?"

I love this question because, first of all, it highlights a strength of what we do, so that's why I'm going to love it. But it also highlights one of the challenges. When you're working with different service providers in different jurisdictions, you're duplicating your efforts over and over again. You're duplicating your efforts for your regular obligations in each jurisdiction. But especially at the time of onboarding new entities and producing due diligence, you're duplicating your efforts time and time again.

We as a service provider have an obligation to collect KYC about every entity to I'll say the regulation within each jurisdiction. However, instead of you providing KYC to a French vendor and KYC to a Brazilian vendor and KYC to a Japanese vendor and so on and so forth, you get to work centrally with CSC. So you're going to work with, if you're based in North America, my team here in Wilmington, if you're based in Europe, my team in London, if you're based in Asia, my team in India, and we're going to centrally collect information and we're going to reduce your duplicative efforts. If Bob Smith is a director on 20 entities in 20 countries, you're not sending Bob's vital personal information to 20 different vendors over 20 different connections.

You're working centrally with my team to collect it one time. We work within an international standard that our goal is to make things certainly satisfied in country, but to not take a belt and suspenders approach and to ask you for more than is required. And it's really going to simplify your processes, providing information one time and allowing us to apply it in all the jurisdictions where it's necessary.

Jake, I hope that answered your question. And let's go ahead and move on from there.

So we're going to quickly move away from just talking about some of the challenges that our clients hear to how CSC can help quell those challenges and make life easy for everybody. When you're considering options for fulfillment of your global needs around the world, there's a lot of points that usually come up and are considered.

Resourcing and budget. Resourcing in terms of who is going to be handling this. Most of our organizations, who come to CSC, are usually trying to find a centralized approach. So instead of having resources with one person in each jurisdiction taking the reins, oftentimes that's centralized to a small group centrally taking the reins, which will allow you to have additional resources doing what they're supposed to do. Of course, when it comes to budget, one of the strongest factors that anybody can bring to you is budget certainty. Flat rates as opposed to hourly rates are going to bring you that budget certainty. Consistency in terms of currency is going to bring you that budget certainty. We're going to talk you about how we'll do that.

The number of legal entities that you have around the world can greatly influence who you're working with in terms of providers, but also the cost models and the scales of economy. If you're working with a smaller provider who's only in one jurisdiction or a handful of jurisdictions, the overall size of your portfolio is not really going to impact your price benefit in those jurisdictions. But when you're working with a large global provider like CSC, we're going to take into consideration the overall volume of your portfolio, the overall economies of scale and allow you to take full advantage of discounting and best practices when it comes to pricing.

We're going to talk quite a bit about jurisdictions of incorporation and foreign qualifications or foreign registrations around the world and how that's different. One of the things that CSC is going to do is be very specific in terms of your itemized needs in each jurisdiction based on the type of entity that you have formed in each country.

We're going to chat quite a bit about the support needed for each entity and making sure that we're doing what is appropriate and what is understood in each jurisdiction as a requirement, as opposed to I'll say a blank list of inclusions that are meaningless until put under a microscope. We're here to be very specific in terms of the bullet pointing that we provide.

Rogier, what do you have to add?

Rogier: Yeah. What I actually would like to add to this is maybe some clarity on the fact that we are not a law firm or a tax advisory firm, so we cannot advise you. We can only speak about general considerations. It's always based on best practices now, and that's one of the items that I tell all of my clients. You have a dedicated client servicing team, single point of contact, and we'll get to that in a little bit. But they are also there to provide you with best practices and fact sheets on anything that you might require to have a more in-depth conversation with a tax advisory firm or an outside legal counsel.

Highly recommend that if you're on our GSM platform, so to say, to utilize the team and get access to the Knowledge Bank, the latest documentation that we're using to file the annual compliance due dates with, but also the information if you're going into a new country because we can fully support market entry, so from formation to providing the annual compliance as well as payroll and accounting. If you want to know what entity types are most common in that jurisdiction or what the economic climate is in that jurisdiction, reach out to your team. Most likely we're able to provide you that information with a very short turnaround time at no additional cost. And this will help you and set the tone for any further conversations and considerations you might have to expand globally.

John: While we're on this slide, we want to mention the need to consider technology. In this space, there are largely providers who are either service providers or technology providers. In many cases, those service providers will partner with a third party to provide some kind of technology or have a rudimentary technology at their disposal that they use, oftentimes as an oversight. One of the hallmarks of CSC services is the fact that we are a service provider through and through who has over three decades developed proprietary, robust, award-winning technology that our clients will take advantage of and see great value there. So please consider that when taking a look at your needs around the world.

So that brings us to the CSC solution. We're happy to bring to market our suite of Global Subsidiary Management services. CSC has been working internationally for over 50 years. So for those of you who still think of CSC as an American company first and foremost, we're a global company first and foremost, and we have a legacy of working cross borders. We've really brought into focus the suite of GSM or Global Subsidiary Management corporate secretary work over the past 12 to 13 years or so, developing it from the ground up. This is not a bolted-on service.

This is not a third-party service that we are white labeling as a CSC service. This is a service that we have built, we've strengthened. We bolstered it about two years ago with our $3 billion do acquisition of the Intertrust Group. We're very proud of that certainly, and we continue to grow it to this day. So Rogier, here if you want to . . . Oh, actually, I will start here with some of the benefits of Global Subsidiary Management.

Global Subsidiary Management is truly built on a centralized and simplified approach to corporate secretarial governance, and I will use those words every day of my life because that's truly what it is. When I think of centralization, I think of a three-lane highway of centralization.

The first is the centralization of your workflows, giving you one point of contact or as many points of contact as make sense for your organization. If you have different people working in Europe and North America, well, then we'd have a point of contact for you in Europe and North America. But we're here to take away your redundant workflows by working with different points of contact in different jurisdictions.

The second avenue to centralization is the centralized and automated collection of data and documentation in our award-winning technology, CSC Entity Management. This technology self-updates based on the documentation that we draft in dual languages, based on the data points that we manage on your behalf, and you have full visibility for an unlimited number of users.

The third avenue of centralization is I'll say the centralized approach to the corporate secretarial administrative role, having one accounts payable department work with one accounts receivable department, having an account management team, who is centralized, speaking with people in your time zone, using your language, just making life easy for you. That's what we're here to do from a centralized approach.

World-class service I think goes hand in hand with CSC I hope. I hope all of you agree with that. We always joke here at Corporation Service Company, service is our middle name and that couldn't be further from the truth here. While we're certainly known as a technology provider and a fiduciary services provider, first and foremost we are a service provider of business administration services.

Jurisdictional expertise is so critical for what we do. My Wilmington team are general experts around the world. Our London team, general experts around the world. However, our team in Switzerland are experts in Switzerland, and our team in France are experts in France, and our team in China are experts in China. We have the local teams and local expertise to be able to get the job done for your organization the way that you need it to be carried out.

Industry-leading solutions. Well, we're trusted by so many award-winning and recognizable organizations around the world for so many suites of services here at CSC, and of course Global Subsidiary Management is at the top of that list.

And lastly, simplified administration, which is really a point that I tackled in that first bullet here. We're going to make your life easy for you. You're going to have flat rate costs in U.S. dollars or a different currency if you prefer. You're going to have a single invoicing team to make your life easy. We work with legal billing solutions. We're just going to line things up for you to make it much simpler than tackling a pile of invoices in many different hourly rates in many different currencies, through which you would communicate with many different relationship managers. We're here to make that an easy process for all of our clients.

So let's talk a little bit about our service offering, and I'm happy to hand it over to Rogier to chat a little bit about Global Subsidiary Management.

Rogier: Yeah. Actually, I should start with your last bullet point of the previous slide —simplified administration. That translates also into the services that we provide to our clients. While you see three buckets or three lists on this specific slide, we have a bespoke service solution for you.

Annual Compliance services, when we talk about Annual Compliance services is basically everything what you need to keep the entity in good legal standing. Now the annual compliance service overview that you see on this particular slide is very high level. Every jurisdiction has somewhat of a different scope. The annual inclusions are different in each of the jurisdictions. As John already mentioned, in Cayman, BVI, etc., registered agent is a common terminology. But also for those office jurisdictions, we often include registered office/domiciliation services. Now if you do operate in Malaysia or in India, we include also corporate secretary. So it's basically very high level, but it shows you that all services that are needed to keep the entity in good legal standing are included.

Now there are some bullet points in the Annual Compliance service package that are more facilitating services that the actual services. Your dedicated client servicing team, your single point of contact, so to say, that provides you with the proactive updates of any upcoming due dates or legislative changes in country. And as mentioned earlier, Entity Management System, the read-only version is included in your in the Annual Compliance package. And, of course, John will touch base on this during the Entity Management demo. There is also a paid version that has additional benefits.

Now when we look at the additional services, obviously we can provide full market entry, which also means that if you need an interim director or a nominee director for a period of time, we can provide those services. Domiciliation was already discussed. If we look at, for example, the corporate health check is a transactional service, but it's also a default part of our transfer in process. We just want to make sure that we start with a clean slate or at least know what the discrepancies are with the entity that we're transferring in, so that we can provide you with a report, maybe the penalties that you're exposed to, so the risk that you're exposed to in the past period, but also the remedial actions and how we are going to solve those remedial actions and for which fixed fee.

Both the Annual Compliance services as well as any additional services are provided on a fixed fee. As John mentioned, budget certainty is very important for our clients. We're extremely transparent about our fees. They're fixed. They're per entity and per annum for each of the jurisdictions. You'll see the highlighted inclusions.

And, of course, we have specialized services. When we talk about market entry, we also often need the formation, but also accounting, tax reporting services, and maybe also business center solutions. Not everywhere we can provide business center solutions, but in the more economical powerhouses jurisdictions we are able to provide those services as well. I like to say one solution means one service provider, one agreement, and one invoice.

Now our framework, that's where it really starts to count, right? As I mentioned on the previous slide, it's very bespoke. Service solution is bespoke in terms of services but also in service delivery. John mentioned that we have three hubs, center of excellence, however you want to call it, from which we can follow the sun if necessary when our clients are situated here as U.S. multinational headquarters, but their colleagues in Japan need to get started right away. So we utilize our hubs around the globe.

Now we do understand that not one size fits all, which means that you might have several divisions within your organization. Maybe the structure of your organization allows for counterparts in region, hence we are making available single point of contacts in the EMEA or APAC region. But also this image indicates that you have access to, as I mentioned before, the Knowledge Bank. We highly recommend reaching out to the team and say like, "Well, we're going into Poland, Romania, or Bulgaria, but we don't know just yet. Can you provide me with some information on these jurisdictions?" So we provide you with a fact sheet, which might hopefully help you a little bit in making your decision.

But also, as previously discussed, access to subject matter experts in country is sometimes crucial. Sometimes it's a cultural challenge that you need to overcome. Maybe your colleagues in Japan are used to speaking with the law firm down the street for the last 15 years, and that's gone really, really well. And now all of a sudden, they need to go to a centralized approach. Now a centralized approach is there, coming from an agreement standpoint, but also an invoicing standpoint and a communication point of view. But if we do need to provide extra comfort, we can definitely make the introduction, and they can have a one-on-one, in-person meeting if necessary. But also if it's, for example, tax or financially driven that your structure is changing and you would like to sit down with a subject matter expert in Luxembourg together with your tax director, we make that available. Just ask the team and we facilitate the meeting.

I always say, and it was mentioned by John also, fixed fee pricing is always discussed on a global level meeting, on the centralized level that we provide to our clients. Our local offices don't know if you have preferential pricing, if there were any discounts negotiated based on the economies of skill, etc. So while we have access to subject matter experts in country or the Knowledge Bank, pricing if services come out of those discussions will be done on a centralized global level.

John, this is yeah, and I joke about this all the time, and it's already two years that we have been acquired from former Intertrust, but this Entity Management system is something else. It's been in the making for three decades, and it is an extremely robust and intuitive system that we were always very jealous of. So I'm very happy that this is being a part of our service offering. We use it internally ourselves, and we make it available as part of a read-only version for our clients.

But John, not taking away any thunder of this, you know way more about the system than I do at the moment. I think you're on mute.

John: It was my turn to be on mute now. I'm happy to share some more information about our robust CSC Entity Management platform, and I'm going to give a very brief demonstration. And this is nothing more than an introduction to this technology. But please know that we're happy to share more time with you specifically. Reach out to any member of our customer service team or your client solutions manager and we will be happy to plan a demo.

Before I jump into the demonstration, let's first start by saying that this technology, of course, is CSC's proprietary technology that we've developed. We develop this technology based on the needs of our clients. That is what shapes this technology, that and that only.

CSC's Entity Management technology is available as a standalone application. We have thousands and thousands of organizations around the world using our technology in a self-service capacity. But when coupled with our services, it takes on a high degree of automation. Everything that our teams produce for you automatically are loaded into the system. Every documentation that is drafted in dual language is loaded into the document management system. Every piece of data that we manage are loaded into this system in a database format. We're going to show you that today.

But it's still retains all of the same properties as if it was a standalone application. So you can customize it for your use. You can create fields that are reportable and unique to your organization and your needs. You can load an unlimited number of documents in it, and you have access for an unlimited number of users.