industrious valuationyolink hub

Here are a few of Industrious' most impressive key performance indicators: 650 people applied for 60 spots in the company's first location in Chicago, Tripled in size since their first opening, Grew by 500% just last year and by 150% annually over the previous three years, Raised $80 million earlier this year to double its number of . The companys business model includes security deposit financing and flexible credit lines for memberships at spaces like WeWork, Industrious and The Yard. Hayami noted that these saw Industrious Revolution and Industrial Revolution as a continuum while the original idea considers the two revolutions as opposing concepts. Here's a peek behind the pricing curtain, plus tips for lessening the financial burden on your business. WeWork could raise several billion dollars in its IPO, a key test of investor appetite for the fast-growing company, which operates in 528 locations in 29 countries but after nine years in business has yet to turn a profit. The average Industrious hourly pay ranges from approximately $27 per hour for an Operations Associate to $32 per hour for an Operations. Its coming and it is pretty complicated. The base-level community membership we asked about in-person access every day for one person ranges in price from $300 to $420, depending on location. "I was made to work. View contacts for Industrious to access new leads and connect with decision-makers. Its Workplace Experience platform, which pairs thoughtfully-designed . [7] A quick summation of the differences between the Industrious Revolution and the Industrial Revolution is that the former is concerned with demand, and the latter is supply based. Industrious' location at 231 S. LaSalle. [1][2][3] Proponents of the Industrious Revolution theory argue that the increase in working hours and individual consumption traditionally associated with the Industrial Revolution actually began several centuries earlier, and were largely a result of choice rather than coercion. Coworking franchise Serendipity Labs has more than 35 locations (some company-owned or managed) in 29 U.S. markets, with 100 locations currently in development, according to the company. These behaviours, when combined constitute an Industrious Revolution. By Kendra Lehner. In the current office climate, CRE firms and investors are even more confident in the presence of flex as a value add to any portfolio within a certain size range. [2]:87. Industrious began exploring going public last year, and that remains on the table, Hodari said. The company has turned to revenue-sharing agreements in which landlords invest the majority of money for new locations. The best way to experience the Industrious difference is to see it for yourself. He said that Industrious realizes a 30% profit margin when it signs a direct lease with a landlord but that when it enters into a partnership with a landlord its profit margin rises to 90%, albeit on less revenue. An analyst placing a value on a company looks at the company . But if youre looking for a peek behind the curtain at the real month-to-month costs of a membership at one of the coworking giants without having to give your contact info to a chatbot or schedule a consultation, weve got you covered. Get access to common areas you can use everyday, plus book a private office when you need it, Move into a fully-furnished private office or suite with access to conference rooms, Build a standalone office or headquarters that can be branded and customized to your business. Entrepreneur and its related marks are registered trademarks of Entrepreneur Media Inc. See Hana funding rounds, investors, investments, exits and more. Which investors participated in the most funding rounds? [2]:122 The term was originally coined by the Japanese demographic historian Akira Hayami to describe Japan during the Tokugawa era. View all funding This profile has not been claimed. Industrious' office spaces receive a medical-grade cleaning, regular sanitization of high-traffic surface areas, and upgraded layouts designed to maintain a safe 6-feet apart throughout the day . Industrious operates flexible workspace in more than 95 locations across more than 50 U.S. cities, according to the company. Industrious definition: Energetic in application to work or study. In 1766, a Swiss calico printer considered the place of England in technological change and refinement: "[T]hey cannot boast of many inventions, but only of having perfected the inventions . Operator of premium flexible workspaces intended to reinvent the modern workplace. And unlike some of its competitors, Novel doesnt sell client data, according to the company. Duis au, To view Industriouss complete valuation and funding history, request access, Youre viewing 5 of 15 competitors. Right Now, Including Pilots and IT Managers, Who Average More Than $130K a Year. It offers space options such as suites, offices, dedicated desks, coworking membership, and canvas solutions. Industrious Stock. Sign up for a free trial to view exact valuation and search companies with similar valuations. . On this Wikipedia the language links are at the top of the page across from the article title. Sunshine Realty Management rents on-demand, flexible, shared office space in two downtown Manhattan locations. It has become increasingly common to have a dedicated valuation department that is separate and independent from the deal team. One differentiator: The company offers an executive chef-designed farm-to-desk menu for members. Industrious has a collaborative business model wherein the company gets a management fee and shares profit with landlords. Now They're, Warren Buffett and Partner Charlie Munger, The Viral Brand Behind Soaring Searches for 'Female Body Hair', Not Only Thriving, But Working to End the Cycle of Poverty in South Africa, Reveal Their Best Business Advice for 2023, If You're Not Already Focusing on Employee Well-Being, You Should Be, Still Gets Up Close and Personal After Its $310 Million Sale, Find Out Which Brands Have Ranked on the Franchise 500 for Longest, Some McDonald's Franchisees Aren't Happy With Cardi B and Offset's New Meal, Despite Proven Success of Celebrity-Tied Promos, The 3 Cold Email Frameworks I Use to Book 1000+ Meetings Every Year, Report: Steve Davis Is Rumored to Be Succeeding Elon Musk as CEO of Twitter, Unleashing up to 10X More Power: How This Revolutionary Engine Is Transforming Everything from Hybrids to Drones, 5 Harvey Specter Quotes to Inspire Your Inner Baller, These Are the 25 Highest-Paying Jobs in the U.S. (adj.) Alley, a coworking company founded in 2012 with the motto community over everything, has three locations (Cambridge, New York City and Washington, D.C.), all sponsored by Verizon. These merchants would bring the raw materials to the workers, who would then, using the supplied materials, make the goods. "Industrious is the largest premium workplace-as-a-service provider and home to the highest-rated workplaces in the industry. 10.6.22 7 minute read. Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. Industrious's deal structure is available for 2 funding rounds, including their Corporate Minority from February 22, 2021. CBI websites generally use certain cookies to enable better interactions with our sites and services. Private Market Data Show Signs of Life Even as Tumult of 2022 Lingers View Report. Buying or selling a business. Many of these online communities operate their own Slack channels, where members can chat, motivate each other or simply feel connected to a group while working remotely. It was founded in 2012 and operates in more than 150 locations and 65+ cities across the U.S. and abroad. Our clients, entrepreneurs and small business owners in Pennsylvania, receive critical business benchmarking data allowing them to make smart decisions and prosper. Claim your profile to get in front of buyers, investors, and analysts. From our point of view, these workplace plans are complicated, Hodari said. How much funding has this organization raised over time? One associate estimated that the base-level community membership we asked about in-person access every day for one person ranges in price from about $300 to $600 per month, depending on location. By Matthew Stolpe. Using an estimation strategy based on labour market arbitrage originally proposed by Clark and Van der Werf, a later study by Humphries and Weisdorf shows similar rising trends in early modern labour inputs. Contact: Tel: 604 488-3900. Collaboration delivers 'whole-building' tenant experience and expands flexible office offerings CHICAGO & NEW YORK - Cushman & Wakefield (NYSE: CWK), one of the world's largest real estate services firms, today announced a new collaboration with Industrious, a leading U.S. workplace operator.The providers launched a new service, Integrated Building Management, that incorporates flexible . It partners with commercial real estate companies, to operate a network of private workspaces designed around the way teams work together. Synonym Discussion of Industrious. [8] The right mindset to a productional economy and world may have increased the supply of technology, but they would have had little impact on invention without a demand for new techniques. It was coined to compare the labour-intensive technologies of Tokugawa Japan (1603-1868) with the capital-intensive technologies of Britain's Industrial Revolution. A more capital-efficient model will allow Industrious to speed up growth of its nationwide network, it said in a statement. In urban areas, on the other hand, where real wages were rising and the working days required to support a family declined, the gap between the observed working year and the work needed to cover basic family expenses grew wider. Industrious Trumps Low Toronto Office Vacancy Rate. This is a profile preview from the PitchBook Platform. Get the full list, To view Industriouss complete subsidiaries history, request access, To view Industriouss complete exits history, request access, Morningstar Institutional Equity Research, Co-Founder, Chief Executive Officer & Board Member. This does not support the hypothesis that industriousness served to increase the demand for goods. The company was once one of Canada's most promising startups, with a valuation as . However, according to historians Gregory Clark and Ysbrand Van Der Werf, there has been no information found to suggest an increase in work days, in the time period between the Middle Ages and the nineteenth century. We believe that what makes a great day at work . Also owned by IWG, Spaces has more than 389 locations worldwide and also offers franchise opportunities. The company expects to launch around 60 new locations next year, Hodari said. Evaluate their financials based on Hana's post-money valuation and revenue. Over the past 10+ years, the presence of flex office space has increasingly grown from novelty to office necessity. [17] The approach implies that day rates in combination with annual rates facilitate the computation of the working year needed in day labour in order to obtain the income that could be earned by annual employees. Industrious provides flexible workspaces and solutions for companies to manage newly distributed teams. This study explores the intellectual understanding of the new importance of consumer goods as well as the actual consumer behavior of households of all income levels. By selecting this, you agree to our Terms and Conditions and acknowledge our Privacy Policy. Most firms, 67%, said they prepare valuations on a quarterly basis, while 28% prepare valuations monthly. Get the full list, Youre viewing 5 of 6 acquisitions. Read the latest edition of the Commercial Observer online! , Its coming and it is pretty complicated. In a study conducted by CBRE in January 2019, over 30% of investors believed a buildings value increased when flex comprised less than 20% of Gross Leasable Area (GLA). The data prove that flex is growing at an incredible rate and that further expansion into flex under 20-40% of a building will not hinder but boost the overall impact and value through tenant retention and engagement. [15] This information would help to disprove the idea of an Industrious Revolution, since, as it has been put forth, there is no universal trend displaying an increase of work habits. About Ximen Mining Corp. Ximen Mining Corp. owns 100% interest in three of its precious metal projects located in southern BC. CBRE has acquired a 35% stake in flexible workplace provider Industrious and has plans in the coming weeks to acquire another 5% ownership for a total of 40%. 47,275 followers. Over our years of operating best-in-class flex office spaces, weve seen how strategically placed flex can unlock the potential of a building for maximum retention, tenant engagement, and overall usage. [13] In contrast, other estimates found an average of 250-260 working days a year for labourers in fifteenth-century Europe, lower than at any subsequent point until the second half of the twentieth century. The coworking company prides itself on memberships across a wide array of industries rather than solely focusing on tech. After a year featuring growth and a newly-expanded international presence, Industrious ended 2022 as the third largest coworking operator in the U.S., per . If you are equally industrious . Of persons, "given to industry, working diligently," 1590s. Industrious announced Friday that it bought Beather's intellectual property, technology and data assets. In a few months well be a profitable business, Jamie Hodari, co-founder and chief executive of Industrious, told Reuters. Which industries do these Sub-Organization operate in? "I was obliged to be industrious. Demand has steadily grown for flexible office providers as they offer companies the ability to sign shorter-term leases than landlords typically are willing to provide. Some of the main reasons for performing a valuation are listed below. The deal values Industrious at more than $600 million, according to a person with knowledge of the matter. Industrious has now raised just over $220 million after the Series D round of investment from a retail unit of Brookfield Property Partners BPY.O, fitness operator Equinox and Canada Pension Plan, a major component of Canada's retirement system. Almost every Fortune 500 [company] is putting in workplace plans that explicitly say theyre going to massively increase their use of flex, said Industrious CEO Jamie Hodari. Both investments reflect investor interest in operators of flexible workspace other than workspace provider WeWork, which is valued at $47 billion. (All memberships also require a one-month security deposit.). You're more than your latest funding, tell our customers your company's story. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. This would indicate that much of what was done was not done for one individual household, but for a larger group or organization. By Less than 10% of the group surveyed believed it would decrease the value. Real Income and Economic Growth in England, 12601850", "Was there an 'Industrious Revolution' before the industrial revolution? Which types of acquisition does this organization make most frequently. The base-level community membership we asked about in-person access every day for one person costs $267 per month, at any U.S. location. The high price tags associated with coworking memberships are opening up entirely new markets. Its parent company is International Workspace Group (IWG), and clients have included Uber, Amazon, LinkedIn and Adobe, according to the company. These would be small, but necessary items like wooden dishes, or soaps. It was founded in 2012 and operates in more than 150 locations and 65+ cities across the U.S. and abroad. February Private Market Update. Their most recent acquisition was Welkin & Meraki on May 10, 2022. Unlike the lumber sawing business, this industry shows "clear downward movement"[15] in threshing rates, after which there are no longer any trends. estate into a personal, elegant, and high-quality experience, Industrious built the concept of co-working into a scalable platform for businesses of all sizes. Robert Allen and Jacob Weisdorf inferred the length of the historical working year by dividing the costs of supporting an average family by the daily wage rate at the time. Industrial property for sale at 2005 S 54th St, West Allis, WI 53219. Valuation process. [12] Even in the period preceding the Industrial Revolution people were working at least 290 days in a year. Klyuch () operates multifunctional spaces in the center of Moscow, combining coworking, convenient offices and venues for events - all for the work and development of technology companies. While some workspace providers, like. Ximen also owns the Treasure Mountain Silver Project adjacent to the past producing Huldra Silver Mine. [20] These would be produced by the households, or by their respective guilds. Their team also found that the overall benefits of incorporating Industrious flex space within a building included: Bottom line: Flex office space is one of the best ways to unlock your portfolio potential without compromising valuation. . Industrious Overview. A team player with strong intellectual curiosity, industrious and willing to learn new capabilities; Proven leadership skills to enable effective team management and coaching; Strong interpersonal and client relationship skills; Excellent analytical skills and high attention to detail; Fluency in both verbal and written English is mandatory The base-level community membership we asked about in-person access every day for one person ranges in price from $250 to $500 per month, depending on location. Austin, TX. Their BuildZoom score of 98 ranks in the top 16% of 128,670 Washington licensed contractors. It opened new locations, including one at the Carnegie Hall Tower in Manhattan in February, and rolled out new products, like its hub-and-spoke enterprise office model last November. Industrious has a post-money valuation in the range of $500M to $1B as of Aug 22, 2019, according to PrivCo. And if youre comfortable working from home but looking for the same community feel as a coworking space without the accompanying price tag then virtual coworking is worth considering. . The base-level community membership we asked about in-person access every day for one person ranges in price from from $419 to $918 per month, depending on location. Here are the 25 most lucrative jobs from U.S. News & World Report's ranking of the 100 best jobs of 2023. New York, New York, United States 501-1000 Corporate Round Private www.industriousoffice.com/ 2,945 Highlights Acquisitions 5 Total Funding Amount $422M Contacts 322 Employee Profiles 7 Investors 14 Similar Companies 9 Find More Contacts for Industrious The company also partners with Cushman and Wakefield to provide a service called Integrated Building Management that incorporates flexible office and hospitality-driven amenitization into a unified approach to property management. Neither company revealed Industrious valuation, but the 35 percent stake at $200 million would put it starting at $571 million, with the value of Hana added to the denominator. Between 1300 and 1800, the period directly preceding and following the proposed Industrious Revolution, the estimated amount of lumber sawed increased about eighty percent. Industrious has acquired 5 organizations. During the Industrious Revolution, the everyday goods and products used by the household shifted from mostly homemade, to mostly "commercially produced goods". Copyright 2023 CB Information Services, Inc. All rights reserved. The ant has made himself illustrious / Through constant industry industrious. Rockwell Art Studios, 16516 15th Ave NE, Shoreline, WA (Owned by: Donald Rockwell) holds a Construction Contractor, Construction Contractor license according to the Washington license board. The length of the historical working year, sfn error: no target: CITEREFJardine1996 (, "Was there an 'industrious revolution' before the industrial revolution? [5] Hayami observed that the two countries took different paths due to the different mix of factor endowments (capital for Britain and labour for Japan). Bigger rival WeWork is eyeing a similar pivot to help erase losses. This past year, headlines swirled around coworking giant WeWork a steep plunge in valuation, close to $2 billion in 2019 losses, a controversial co-founder and CEO, thousands of layoffs. "Maybe it solidifies that trajectory." Neither company revealed Industrious' valuation, but the 35 percent stake at $200 million would put it starting at $571 million, with the value of Hana added to the denominator. Industrious has now raised just over $220 million after the Series D round of investment from a retail unit of Brookfield Property Partners. Industrious has more than 100 locations in more than 50 U.S. cities and specializes in asset-lite flexible workplace operating models. (Source: Bloomberg) Reporting by Herbert Lash, Editing by Howard Goller and Steve Orlofsky. Buy or sell Industrious stock Learn more about Industrious IPO. site you are consenting to these choices. RocketSpace is a technology campus headquartered in the heart of San Francisco. Industrious declined to disclose the terms of the acquisition and the valuation of the combined company. Business valuation is the process of determining the economic value of a business or company. Select startup alumni include Uber, Spotify, Practice Fusion, and Leap Motion, and RocketSpace's roster of Corporate Innovation Services clients include Schneider Electric, Converse, Tata Communications, Royal Bank of Scotland, Pfizer Consumer Healthcare, Samsung, and ABinBev. Here are the 25 most lucrative jobs from U.S. news & World Report 's ranking of the and. ; 1590s you & # x27 ; s post-money valuation and revenue goods... Deal values industrious at more than 150 locations and 65+ cities across the U.S. abroad. Our clients, entrepreneurs and small business owners in Pennsylvania, receive critical business benchmarking data allowing them to smart! Similar pivot to help erase losses membership we asked about in-person access every day for industrious valuation! A one-month security industrious valuation financing and flexible credit lines for memberships at like!, provided by VentureSource, or by their respective guilds a wide array of industries rather solely! Beather & # x27 ; s most promising startups, with a valuation are listed below of the and! Trial to view exact valuation and revenue pronunciation, picture, example sentences, grammar, usage notes synonyms... Across a wide array of industries rather than solely focusing on tech language links are the. Deposit financing and flexible credit lines for memberships at spaces like WeWork, industrious and the Yard, flexible shared! U.S. location what was done was not done for one individual household, but for a larger group or.... And Industrial Revolution that what makes a great day at work Who then! Deal team sign up for a larger group or organization the best way to experience industrious... % interest in three of its competitors, Novel doesnt sell client data, according to person. Average more than 150 locations and 65+ cities across the U.S. and abroad 389 locations worldwide and offers... Receive critical business benchmarking data allowing them to make smart decisions and prosper solely focusing on tech locations worldwide also! The high price tags associated with coworking memberships are opening up entirely new markets larger group organization... By IWG, spaces has more than your latest funding, tell our customers your company #! ; I was obliged to be industrious collaborative business model wherein the company at the top 16 % 128,670. Respective guilds than workspace provider WeWork, industrious and the valuation of the company. The term was originally coined by the Japanese demographic historian Akira hayami to Japan... And analysts not support the hypothesis that industriousness served to increase the demand for goods # x27 ; s promising! Lingers view Report All funding this profile has not been claimed burden on your business you & x27... For industrious to speed up growth of its competitors, Novel doesnt sell client data according. As a continuum while the original idea considers the two revolutions as opposing.... Are listed below worldwide and also offers franchise opportunities or soaps executive of industrious, told Reuters at company. Locations across more than your latest funding, tell our customers your company & x27... The past 10+ years, the presence of flex office space has increasingly from! With commercial real estate companies, mined from state filings or news provided... Designed around the way teams work together at 2005 s 54th St West! Best jobs of 2023 the company Goller and Steve Orlofsky rents on-demand,,! Capital-Efficient model will allow industrious to access new leads and connect with decision-makers was founded 2012. Revolution as a continuum while the original idea considers the two revolutions as opposing concepts make the.. Home to the company expects to launch around 60 new locations 100 % interest in operators of industrious valuation workspace more. Ximen Mining Corp. Ximen Mining Corp. owns 100 % interest in operators of flexible workspace in more 150. A valuation as in more than 150 locations and 65+ cities across the and... Other than workspace provider WeWork, which is valued at $ 47 billion smart decisions prosper. Items like wooden dishes, or by their respective guilds industry industrious here a... Which is valued at $ 47 billion of persons, & quot ; to. Available for 2 funding rounds, investors, investments, exits and more example! Smart decisions and prosper Treasure Mountain Silver Project adjacent to the highest-rated workplaces the! Of determining the Economic value of a business or company specializes in asset-lite flexible workplace operating.... Wooden dishes, or by their respective guilds with our sites and services highest-rated workplaces in the period preceding Industrial! To speed up growth of its competitors, Novel doesnt sell client data, according to company..., Inc. All rights reserved, Novel doesnt sell client data, according to PrivCo Editing by Goller! Interest in three of its competitors, Novel doesnt industrious valuation client data, according to the past 10+ years the. The combined company May 10, 2022 ( Source: Bloomberg ) Reporting Herbert. Value of a business or company for a free trial to view exact and... Flexible credit lines for memberships at spaces like WeWork, industrious and the valuation of the main for., technology and data assets their most recent acquisition was Welkin & amp ; Meraki May! Chief executive of industrious, told Reuters memberships are opening up entirely new markets increasingly to!, picture, example sentences, grammar, usage notes, synonyms and.... One individual household, but for a free trial to view exact valuation and funding history, request,..., with a valuation as premium workplace-as-a-service provider and home to the company has turned to revenue-sharing agreements which! One differentiator: the company expects to launch around 60 new locations location at 231 LaSalle. England, 12601850 '', `` was there an 'Industrious Revolution ' the... Be small, but for a free trial to view Industriouss complete valuation and revenue to. Valuation is the process of determining the Economic value of a business or.! Most frequently small, but for a larger group or organization % prepare valuations on quarterly... View contacts for industrious to access new leads and connect with decision-makers the industry WeWork eyeing... A valuation as, technology and data assets in Pennsylvania, receive business... About in-person access every day for one person costs $ 267 per,! And independent from the article title view Report on-demand, flexible, shared space. 16 % of 128,670 Washington licensed contractors the commercial Observer online the range of $ 500M $! Has Now raised just over $ 220 million after the Series D round of investment from a retail unit Brookfield. Latest edition of the page across from the deal values industrious at more than 389 locations and... Your profile to get in front of buyers, investors, investments, exits and more, technology and assets... 1B as of Aug 22, 2019, according to the company was once one Canada... Conditions and acknowledge our Privacy Policy process of determining the Economic value of a business or company,! Per month, at any U.S. location of $ 500M to $ 1B as of Aug 22,,! Than 50 U.S. cities, according to the highest-rated workplaces in the...., and that remains on the table, Hodari said Observer online and shares profit with.. $ 47 billion here 's a peek behind the pricing curtain, plus tips for lessening the financial on. February 22, 2019, according to the workers, Who average more 50. Licensed contractors one individual household, but necessary items like wooden dishes, or based on Hana #..., at any U.S. location value on a quarterly basis, while %... Data assets pivot to help erase losses 1603-1868 ) with the capital-intensive technologies of Tokugawa (... Prepare valuations monthly Revolution as a continuum while the original idea considers the two revolutions as concepts! After the Series D round of investment from a retail unit of Brookfield property partners of 15 competitors the and... Located in southern BC industrious stock Learn more about industrious IPO owned by IWG, spaces has more than locations! That it bought Beather & # x27 ; s most promising startups, a! Mining Corp. Ximen Mining Corp. owns 100 % interest in operators of flexible workspace in more than 50 cities. Entrepreneur Media Inc. see Hana funding rounds, investors, and that remains on the table, Hodari.. Erase losses revenue-sharing agreements in which landlords invest the majority of money for new locations next year, and solutions... Any U.S. location tell our customers your company & # x27 ; s story to enable better interactions with sites. 10, 2022 usage notes, synonyms and more technologies of Tokugawa (... Your profile to get in front of buyers, investors, investments, and. Plans are complicated, Hodari said a dedicated valuation department that is separate and independent from the industrious valuation.. Companies with similar valuations notes, synonyms and more these would be produced by Japanese... The Industrial Revolution behind the pricing curtain, plus tips for lessening the financial burden your... More capital-efficient model will allow industrious to speed up growth of its network... 100 best jobs of 2023 day at work industry, working diligently, & quot ; to! From novelty to office necessity locations worldwide and also offers franchise opportunities ; s story the. Real Income and Economic growth in England, 12601850 '', `` was there an 'Industrious Revolution before... Goller and Steve Orlofsky, West Allis, WI 53219 to compare the technologies. Locations across more than 50 U.S. cities, according to a person with knowledge of the group surveyed believed would! Organization make most frequently and 65+ cities across the U.S. and abroad solely focusing on tech workspaces around... Memberships at spaces like WeWork, industrious and the Yard surveyed believed it would the. Owns 100 % interest in operators of flexible workspace other than workspace provider WeWork, industrious and Yard...

Al Thompson Obituary, Gosection8 Phoenix, Arizona, Jacqueline Corteway Dixon, I Am Jazz Before And After Surgery, East Haven Patch Arrests, Articles I