Acronyms that contain the term stiftelse 

Stiftelse

Stiftelse, the Norwegian Foundation is an independent juridical entity that has assets at its disposal, given by will, gift, or other juridical disposition to the foundation for a given purpose; that might be for idealistic, humanitarian, cultureal, social, educational, economic or other purpose. Foundations are led by a board of directors and must follow the statute created by the founder. Foundations are governed by the Foundation Act of June 30, 2001. At the creation of a foundation, the creator loses the right to dispose the assets that are transferred to the foundation. Like other companies and organizations, a foundation is an independent juridical entity, so the foundation itself can be owner, that is can accept obligations and financial commitments and it can be subject to agreements and processes. Foundations are self-owning. Thus they do not have any owner. This differs the foundation from companies, where the participants have partial ownership of the companies assets, right to part of the companies profit and governance through the power vested as owners. The foundation also differs from the organization. Like the organization, the foundation is self-owning, but in the organization the members that govern it, and it is based on the goal set by the members, not based on an asset.

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