In episode S3E22, Ray has Felicity sign some "corporate stuff" while talking to her. You'd expect her to actually read the document prior to signing it, since the last time someone of Team Arrow was in a rush and signed papers without reading them properly Ray's name ended up on the building. Sure, he's not a villain, but still.

This happens when Felicity is a bit distracted by other things, not noticing that it probably was something big. But what was the document she signed? I think it had something to do with corporate restructuring of Palmer Industries in Felicity's favor, but why did he do that?

Sure, the out of universe reason is likely that Ray is going to appear on Legends of Tomorrow and they need an excuse for him not showing up on Arrow anymore (or at least not as the Palmer Industries CEO), but I'm curious as to the in-universe reason.

1 Answer 1


Felicity Smoak is now the proud, unwitting owner of Palmer Technologies.

Ray hands her papers to sign, saying they're just "corporate stuff", but turns the papers over after she leaves. You can clearly see that the papers are a transfer of ownership, naming Felicity as the new owner of the company.

felicity signs clicky for bigger

read what you're signing! clicky for bigger so you can read the text easier

Unfortunately, I can't make out the text listing the official reasons that he's transferring the ownership (the document mentions "the reasons").

If I were to hazard a guess, I would think part of it is due to Ray believing his calling is as The Atom, and seeing that he loves Felicity, and knowing how Oliver's life as The Arrow prevented that relationship, he may want to leave entirely.

It's also possible that Ray knew he was going to be doing something really stupid dangerous, and worried about his own fate... like if he

blew up his entire lab with him in it,

and wanted to make sure that the company's ownership was accounted for in a way he approved of, just in case.

  • 2
    I'm not too savvy when it comes to American corporate legal stuff (being neither American nor a lawyer), but is this legally possible for a corporation like Palmer Industries? Or does it require approval of the shareholders or something like that? Also, I note that it's being held together with a paperclip instead of a staple, that's adorable. Commented May 21, 2015 at 13:15
  • 1
    @ThomasJacobs To become the CEO of a public company, yes, but not to become the owner.
    – phantom42
    Commented May 21, 2015 at 13:17
  • 3
    most likely he transferred his controlling stake in the company, giving her the same level of authority to make corporate decisions as he had. Also, corporate law in comics-world rarely matches the complexity of corporate law in the real world (see also: oliver losing his company == losing his home?)
    – KutuluMike
    Commented May 21, 2015 at 13:18
  • 3
    See also: Tony turning over control of Stark Enterprises to Pepper.
    – phantom42
    Commented May 21, 2015 at 13:59
  • 1
    @ThomasJacobs : Many CEOs & Presidents in Corporate America reserve the right to name their successor, but obviously that's something that has to be written in the contract. As for the paper clip, a document like this would need to be copied numerous times after being signed. Only then would the physical copies be stapled.
    – Omegacron
    Commented May 21, 2015 at 15:04

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge you have read our privacy policy.

Not the answer you're looking for? Browse other questions tagged or ask your own question.