Nicotra, Angelo Francesco (2019) Lo Statuto giuridico dell'impresa innovativa nell'ordinamento italiano. Doctoral Thesis.
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Starting from the analysis of the Italian innovative business model introduced by the law decree n° 179/2012 (better known as «decreto sviluppo»), the author aims to clarify which relevant meaning, from a legal stand of view, can be attributed to the concept of «technological innovation» (taking into account European law and the legislation regarding inventions), reaching the conclusion that the only kind of innovation that is juridically substantial is the one born from research and development activities.
Focusing therefore on innovative start-ups, regulated in the above-mentioned decree, the author comes to the conclusion that, among those listed by the legislator, the only element truly adequate to be used as a legal selection parameter in this case is the innovative corporate purpose, or better, the innovative activity that it implies (where technological innovation, lacking in itself an autonomous meaning, becomes a «second level prerequisite» of the economic activity conducted by the company).
For this reason, it is necessary that it carries out the productive cycle that connotes the innovative companies, as it is not permittable that the inclusion in the special section of the Italian Business Register dedicated to the innovative start-ups could be sufficient on its own to justify the applicability of the favourable legal regime.
Having said this, the author lingers on the problematics regarding the mandatory public disclosure related to the start-ups and on the relevant influences on internal organization coming from the clause on the innovative corporate purpose, which can be exemplified, among the others, by the possibility of its members to retire from the company under certain conditions, the potential winding up of the company caused by the impossibility of accomplishing the innovative corporate purpose and the exemption of start-ups from the bankruptcy proceedings.
Lastly, after a brief analysis of the possible funding solutions for innovative start-ups, he wishes for the introduction of a European common framework and a specific legislation for research and development companies.
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