The paper presents the importance of risk transfer through insurance contract for all organizations. The paper explains risk adjustment rules who offer key points for decision making when dealing with risk, but each of them also have limitations. Also, the paper presents risk managerial policies.

This paper focuses on knowledge-based entrepreneurship, or new firm creation in industries which are considered to be science-based or to use research and development intensively, in the East Central European (ECE) context. On the basis of case studies of thirteen knowledge-based firms in six...