Stiftung
german, -noun-: “foundation”; a type of business organization dating from the late 19th century in which one or more companies are owned by a foundation. the foundation, in turn, is governed not by shareholders, but by whomever is chartered as a stakeholder in the firm, such as workers, financial planners, local residents of the town where the firm operates, and so on.
the biggest company owned by a foundation is robert bosch gmbh, which is 92% owned by robert bosch stiftung (stuttgart, germany). bertelsmann ag (guetersloh, germany) is owned by the bertelsmann-stiftung, which appears to possess the largest endowment of any german foundation; the affiliated company owns an enormous media empire.
plural: stiftungen
the prevalence of the -stiftung- in german industry probably contributed to the excellence of german manufactures, since the affiliated companies were managed by engineers.
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