There comes a time in every child's life when he/she needs a time out from life. Try to find a space where the child has seclusion and no distraction.
May I suggest that a way to handle this "time out" theme would be, yes, give them a chair with his/her own space, but then place some of their favourite books around it. Your child can sit there and choose a book to read while he/she is inactive.
Studies show that reading calms kids down. They focus on words and pictures which soothe tempers and emotions. After a designated length of time you can come over to the space, pick up a book and read it - together. Actually it will be good for you too. Studies show that reading stabilizes blood pressure and lowers your heart rate. When you come together around a good book and everyone is engaged in the story the post reading will enable you to quietly and calmly discuss with your child why it was necessary for the time out.
Just think of it this way. If you make the time out chair alluring perhaps your child will recognize the need for it and end up there on his/her own just to read a good book.
Blessings and read on.
Quote: To learn to read is to light a fire; every syllable that is spelled out is a spark.
- Victor Hugo
For your interest: Victor Hugo was a French romantic poet, novelist and dramatist , 1802-1885