“I’ve seen the importance of company data in my work, whether in asset tracing, detailed due diligence or anti-money laundering controls. There are lots of situations where it helps to know exactly who you’re dealing with and the people involved. It’s also becoming increasingly important as more business is done via corporate structures – for instance, more and more luxury properties in the UK are being bought by companies.
Contributing to OpenCorporates helps make this data more convenient to use by drawing it together in one place. It also helps level the playing field by making this information openly accessible to everyone. The main alternatives are proprietary databases which have restrictions about how you can use their data, and can cost thousands of pounds per user per year.”