The Company's purpose is to hold intellectual property rights, to hold and manage participations in other companies in Switzerland and abroad. It may create, acquire, encumber, and alienate licenses, patents, and other intangible rights, as well as engage in all commercial, financial, or other activities directly related to its purpose or conducive to its realization. The Company may also undertake, for its own account or for the account of third parties, all other industrial, commercial, financial, movable, or immovable operations, directly or indirectly related to its purpose, with the exception of operations subject to authorization under the federal law on the acquisition of real estate by foreigners (LFAIE). The Company may open branches in Switzerland or abroad and may also acquire participations in other companies. The Company may grant loans or provide other financing to its direct or indirect associates as well as to its direct or indirect subsidiaries, each time on a paid or gratuitous basis. The Company may provide securities of all kinds for the obligations of these group companies, such as, but not limited to, pledges or fiduciary transfers of the Company's assets or guarantees of all kinds, for payment or gratuitously. The Company may also enter into centralized cash management (cash pooling) agreements with other companies in the group.
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