The purchase, sale, holding, administration and management of all participations, including the direct or indirect acquisition of real estate, which will be used exclusively for commercial purposes, if located in Switzerland; advisory services and provision of services in the fields of law, as well as any form of organizational and business management consulting, financial analysis and planning, and outsourcing of human resources tasks; the holding of art collections, trade, purchase, sale and creation of works of art in all its forms, as well as information and training in visual arts. The company may establish subsidiaries in Switzerland and abroad, as well as branches and hold participations in all commercial and civil companies and enterprises, in Switzerland and abroad. The company may acquire, hold and dispose of intellectual property rights. The company may carry out all commercial, financial or other operations that are directly or indirectly related to its purpose. The company may grant loans or guarantees to its associates and to the companies in which it participates and act as guarantor for them.