Binding Capital to Free Purpose: Steward Ownership in Germany

Sanders Anne ()
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Sanders Anne: Chair for Civil law, Company law, the law of family businesses and comparative judicial studies, University of Bielefeld, GermanyBielefeld

European Company and Financial Law Review, 2022, vol. 19, issue 4, 622-653

Abstract: 622This paper discusses steward ownership, a concept of business ownership aiming at long-term and purpose-oriented entrepreneurship developed in Germany. Steward ownership can be seen in the context of the current worldwide discussion of corporate purpose and legal innovations like the US-American benefit corporation and the French société a mission has developed a unique approach. The concept is currently put into practice using German company law and the law of foundations. However, in the coalition agreement of the current German government, a new legal form is envisaged to facilitate the founding of steward-owned businesses. The paper presents the concepts and discusses a draft law developed as food for thought for the legislature.

Date: 2022
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DOI: 10.1515/ecfr-2022-0020

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