The Sound of Economics What the heck is a 28th Regime?
Mar 25, 2026
Fiona Scott Morton, economist focused on competition and startup-focused 'Regime 0' ideas. Reinhilde Veugelers, innovation policy expert on EU scale-up and market implementation. Tobias Tröger, corporate law scholar with venture capital expertise. They unpack the 28th regime concept, debate targeted versus broad legal designs, discuss notaries and digital hubs, and consider implications for attracting venture finance and scaling firms.
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Optional European Corporate Form Must Enable Private Ordering
- The 28th regime creates an optional European corporate form to let founders and investors choose a single, self-sufficient legal instrument.
- Tobias Tröger warns the regime must be enabling for private ordering or it will block venture financing and fail its purpose.
Target The Regime To Young Innovative Firms
- Target the regime narrowly at very small, innovative firms to avoid wide political resistance and maximize impact on firms that currently don't exist in Europe.
- Fiona Scott Morton argues focused design reduces co-determination and union pushback and spurs new startups and VC activity.
Notary Role Creates Costly Friction For Startups
- Notaries in continental Europe provide identity verification and advisory roles that add significant fees and delay incorporations.
- Tobias Tröger notes EU Inc.'s 48-hour/€100 promise applies only when standard templates are used; bespoke deals revert to costly notary processes.