But, if the non-profit gives all its assets to the new legal entity, shouldn't the new legal entity be taxed heavily? The gift tax rate goes up to 40% in the US. And 40% of the value of openAI is huge.
You sign an exclusive, non-revocable licensing agreement. Ownership of the original IP remains 100% with the original startup.
Now, this only works if the non-profit's board is on-board.