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wherever you get your podcasts. Welcome to the HPR Ideacast from Harvard Business Review.

I'm Justin Fox, and I'm talking today with Bill George,

a professor of management practice at Harvard Business School

and the former CEO of Medtronic,

and me here Desai, a finance professor at HBS and also a professor of law, I guess, at

Harvard Law School.

What we're going to talk about is the currently very controversial, if maybe a little arcane topic of corporate

inversions but first bill welcome to idea cast please be with you Justin

and mahir welcome to Ideacast.

Great to be here Justin.

I'm going to start with a very basic question for Mehere.

What is a corporate inversion?

So the simplest way to think about an inversion is that the usual structure of a company is there's a parent company on top,

usually in this case a US multinational, and then they have a foreign subsidiary often

let's say low tax jurisdiction and that subsidiary is below the parent and an

inversion is an inversion of that corporate structure so you you turn it upside down. So that subsidiary

in a low tax jurisdiction becomes the parent and the US company is now the subsidiary of that

...