Illusian Founder Office’s Post

Gijsbert Koren isn't the 28th regime something that can be used for a pan European Steward Owned inc. entity?

I support the idea of a European-wide company, EU Inc., but there are significant considerations to address. If EU Inc. were created at the EU level, you’d still have 27 court systems in 24 official languages adjudicating conflicts within these corporations. Each system would apply different rules for evidence and varying legal procedures. The European Court of Justice (ECJ) could offer guidance in only limited cases, given the vastness of corporate law. Without federalizing the court system along with EU Inc., you’d end up with 27 different court interpretations of how this entity should be treated. In addition, if corporate insolvency laws are not harmonized through an EU-wide regulation, you would face inconsistent liquidation and winding-up processes for EU Inc., depending on where the corporation’s center of main interests lies within the EU. Therefore, an EU-wide bankruptcy law is essential alongside the creation of EU Inc. One cannot exist without the other, as the threat or possibility of insolvency under different member state laws will influence how a corporation behaves and is financed. Otherwise, you risk fragmenting EU Inc. into 27 different corporate regimes at the member state level, making uniformity impossible.

This sounds very welcomed initiative to lower the barriers of investing into European startups! We have noticed at NSI that similar work is ahead in how to standardize the Universties tech transfer functions. We are working to pass best practises between Universities to help Universities to ease the commercialization processes. (Easy decision to sign the petition too)

Sounds like a fantastic initiative Ilkka. Congratulations. I think it might also be helpful to incorporate a leadership development / culture development component as well to ensure we have the right focus on developing great leaders to run and scale those companies and avoid common pitfalls. thoughts?

Fantastic initiative, what a perfect way to support great studios and connect them with the right capital

Thanks Ilkka Paananen for supporting this! Definitely important to the ones like us that are coming next ☺️

Signed and definitely support the initiative 👍

Signed and sealed ✅