Asheesh Advani is in an enviable position for a successful entrepreneur: he has sold his business and is trying to decide what to do with the next phase of his life. For the first two years after selling CircleLending, a pioneer in the person-to-person lending field, to Richard Branson he stayed...

This note provides an overview of the rationale and the challenges associated with building new businesses within established companies. It provides a framework for understanding why corporations pursue entrepreneurial ventures and the various levers that they employ. The note offers a...