This book is written for all those with an interest in building successful enterprises and a prosperous society, including users and providers of capital, stakeholders, educators and
citizens. It comes at a time when, after one of the most serious banking crises in modern history, many people are asking what useful purpose some major financial institutions should serve,
and are urgently seeking solutions.
The book describes the rich inheritance of enterprises and the financial systems which support them in the major market economies. It also looks at some serious problems which affect many
of them, from small and medium-size firms to major companies, providers of public services and diverse enterprises like mutual and non-profit organisations. It shows that there is a common
theme in these problems in the link between the ownership of enterprise and the provision of the risk capital it needs.
This book makes the case for addressing these problems with a fresh approach. It shows how to raise risk capital without affecting ownership or control, and without borrowing; in short, how
to hire risk capital, rather than be hired by it. It proposes royalty funding, a system grounded in proven and familiar practice, to provide a solution and enable more successful
enterprises to prosper and enrich society.
