Enterprise Foundation Law In A Comparative Perspective

Enterprise foundations are foundations which own companies. The term is not widely known, but many will recognize the names of companies like Bosch, Bertelsmann, Carlsberg, Hershey, Rolex, Investor or Tata Sons, which are owned by foundations or equivalent entities - stiftungen, trusts, fonde, stichtingen etcetera - whose names reflect their legal and national origins. Although enterprise foundations have been around for more than a century, they have recently attracted attention as embodiments of the purpose-driven company advocated by Colin Mayer, the British Academy, the World Economic Forum, George Serafeim and others. Many foundations are non-profits without a personal profit motive, which sets them aside from other corporations. Instead, they are legally bound by their purpose, which is typically to secure the longevity and independence of the companies that they own and to contribute to society through philanthropy. As perpetuities which cannot be dissolved, they are long-term