Acquisition, holding, administration and disposal of participations, as well as the creation of subsidiaries, in companies in Switzerland and abroad, the company being allowed to acquire, hold and manage participations in real estate companies or real estate only if these serve as a permanent establishment for trading, operating a factory or exercising any other industry in commercial form, as well as for exercising a craft or liberal profession of the company or subsidiary; it may carry out all commercial or financial transactions directly or indirectly related to its purpose; it may also acquire, hold, manage or sell intellectual property and real estate, provided that these assets, if located in Switzerland, serve as a permanent establishment for trading, operating a factory or exercising any other industry in commercial form, as well as for exercising a craft or liberal profession of the company.