Abstract:
Entrepreneurs are the frontrunners of high-quality corporate development. Promoting entrepreneurship is one of the newly added legislative purposes of the revised Company Law. It is suggested that entrepreneurship, as conceptualized across the two disciplines of economics and company law, be systematically integrated so as to preserve the openness and systematic coherence of its connotation and denotation. The core of entrepreneurship lies in honesty and good faith, prudence and diligence, innovation and risk-taking, and respect for law coupled with moral integrity. A rational entrepreneur should possess professional competence that integrates four dimensions: legal intelligence, moral intelligence, intellectual intelligence, and emotional intelligence. Entrepreneurs should be subject to strict oversight and receive profound care. It is necessary to establish an entrepreneurship-friendly regulatory system characterized by a combination of leniency and severity, differentiation between good faith and malice, proportionality between fault and penalty, precise accountability, exemption from liability in cases of good faith, fair mitigation of liability, tolerance of failure, and reasonable allowance for error. Companies should be encouraged to independently establish entrepreneurial compensation and equity incentive plans that are closely tied to their sustainable development performance. Directors, supervisors, and senior managers all belong to the entrepreneurial community. Dual controllers must exercise corporate control appropriately and must not abuse it. While entrepreneurship may fail, adjudicative authority must not fail.