The Association of Knowledge Management Practitioners is a non-profit organization established in Hong Kong with the following principles:
- It is an organization formally registered in Hong Kong, as a registered limited company. There are cost of operations for maintaining its substainability. It is also subject to all requirements as a registered business in Hong Kong, such as the legal, company secretarial and financial obligations. It also requires a normal business operation by an office.
- As a non-profit organization, all incomes as a result of its activities and operations will remained in the organization, not to be distributed to the registered owners nor any other stakeholders.
- As an Association, KMP does supports and allows business professionals or organizations to find their opportunities and promote their products or services, but strictly in a manner adhering to the organization's core values and code of conduct. All such activities will be assessed by the authorities of KMP, and KMP authorities will have the final decision.
- As a non-profit organization, it is not the intention of KMP to make profits. Profit is not, and should not be the primary purpose of organizing activities or delivering products or services. However, KMP also requires costs for sustainability and normal operations, and very often requires funding for the flexibilities in organizing activities such as down payments, dropouts, etc. KMP requires a membership fee for members who will possess additional benefits compared with non-members, and a small percentage of income from each activities might be applicable in each instances of operations or activities. KMP will still undergo the regular accounting audit as required by the HK company registrar. KMP targets business professionals who are serious about their personal development.
- There is a Board of Directors (the Board) during the establishment of the association. The Board will be registered in the business registration, and will become the legal representative of KMP. As there will be legal and financial obligations as a legal and formally established association, the Board will have the ultimate power, authorities, and therefore the final and ultimate decisions in any rules & regulations, overall strategy and directions, and/or any ad-hoc issues or arguments inside KMP. However, even though the Board has the power, it is not be the intention of the Board to interfere with the daily operation of KMP. The Board is established right in the beginning during the legal business registration. It is not necessary for the Board to change the Directors, unless there is a motion from within the Board for such an motion, or in case a Director resigns. The Board is not a election, and there is no binding rules for re-election periodically. The Board is bound by the law of Hong Kong.
- The Executive Committee (ExCo), or other similar sub-organizations, will be the highest authority of operation below the Board. Hierarchically, the ExComm should report to the Board, and this reporting meeting should be held at least once a year. The ExCo remains as the body of operation in KMP. Formation of the ExCo is yet to be decided by the Provisional Executive Committee (PEC), be it selected or elected.