This is a great idea. Without jurisdiction I think it can at least operate similar to mutual funds. Anyone can invest money into the bitcoin address backing the shares, but spending any coin from the bitcoin address requires a voting procedure taken by all the share holders or from the board members. An alt-chain can be used to implement trading of shares, board election, voting, and liquidation before going bankrupt. The investment of the shareholders can be protected on the protocol level.

A fund can do alot more things than a single person holding bitcoins in a single bitcoin address.