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The European Corporate Sustainability Framework (ECSF) is, among other concepts, based on a phase-wise development approach as described by Clare Graves' Levels of Existence Theory. As much as corporate sustainability has a sequence of adequate interpretations, aligned with each development level, also the notion of business excellence can be defined at multiple levels, as this paper demonstrates. Furthermore, the authors analyze the current EFQM Excellence Model for particular biases towards various development levels and suggest a new and innovative two-step approach to assessing organizational performance with respect to organizational excellence (OE) and corporate sustainability. According to the organization's ambition, the assessment is either limited to a shareholder approach, mainly focusing at optimal usage of resources, or it also includes an additional assessment format based on the stakeholder approach, with specific reference to the organization's performance on the financial, social and ecological bottom line. This paper demonstrates the need and feasibility of an EFQM-Based assessment tool with a combined focus on corporate sustainability and OE.

This is a draft version. For the final paper, refer to Reijers, W., Wuisman, I., Mannan, M. et al. Topoi (2018). https://doi.org/10.1007 2 according to a system of rules that have been encoded directly into the system that is responsible for enforcing them. Off-chain governance comprises all other (i.e. nonon-chain) rules and decision-making processes that might affect the operations and the future development of blockchain-based systems. Off-chain governance includes both endogenous and exogenous rules. The former category refers to the rules adopted by a reference community to ensure the proper functioning and ongoing development of a blockchain-based system (including procedures to implement protocol changes).The latter category includes all rules imposed by a third-party onto the reference community, e.g. national laws and regulations, contractual agreements, technology standards, and so forth 2 .The ongoing debate about on-chain and off-chain governance turns on the practical question of whether existing rules and decision-making processes governing a blockchain-based system should be changed from the inside or the outside by the reference community, and whether the system should provide for a mechanism to change the governance structure itself. This practical question leads to the more theoretical and normative question of whether an existing set of code-based rules could and should overtake the exercise of human judgment in decision-making, and what are the ethical and political considerations this would entail (De Filippi & Hassan 2018). Addressing these questions brings about a new legal discourse. In an earlier paper on blockchain technology, Reyes argues that distributed ledger technology (DLT), such as blockchain technology, "will change legal discourse about the fundamental elements of legal systems, including substantive law, legal structures, and legal culture" (Reyes 2017, p. 1).The new legal discourse, she claims, "will stand on its own as a new field of legal academic inquiry and area of legal practice" (ibid, p. 63). While this observation seems correct, blockchain technology also brings to the fore ideas that have long been subject to jurisprudential debate. This paper seeks to situate the blockchain discussion within the field of legal philosophy, examining how legal theory can apply in the context of blockchain governance. In doing so, it furthermore aims to connect analyses of the governance of financial technologies with the broader academic debate on philosophy of money and 2 Because of these specificities, most blockchain-based systems rely on off-chain governance only in exceptional situations when on-chain governance fails or is unable to process a certain decision-for example, when a protocol change is required to improve a network's functionalities or fix technical issues that would otherwise place the whole network in jeopardy.

The Societas Unius Personae is proposed for the benefit of a quicker and cheaper way of establishing a single-member private limited liability company across the border. In order to achieve this objective, a mandatory full electronic registration procedure is included in the proposed Directive. Although Member States are bound by certain conditions, they have some freedom in designing the (online) registration process and the requested information. As a result, twenty-eight different registration procedures may come into force.

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