In Switzerland and abroad, to conduct all commercial activities as well as the administration, development and exploitation of all intellectual property rights, the purchase and sale of all real estate abroad exclusively, the administration of company assets, as well as the acquisition of interests in all companies, excluding companies and corporations holding residential real estate in Switzerland. The company may carry out all financial, commercial, industrial, movable and immovable transactions, in Switzerland and abroad, directly or indirectly related to the main purpose, with the exception of transactions related to residential real estate in Switzerland. It may also establish branches and subsidiaries in Switzerland and abroad. The company may also grant loans to its shareholders and/or guarantee, secure or co-sign loans granted by third parties to its shareholders.