On November 23, 2007, President Vladimir Putin endorsed the federal law[4][5] to establish Rostekhnologii, a state corporation, passed by the State Duma on November 9.[6][7] The state contributed 443 entities to the corporation’s capital.[8] Their total loss was RUR630 billion; 30% of such enterprises were in pre-crisis and crisis condition, 28 entities in bankruptcy proceedings, 17 had no business operations, and 27 had lost part of their assets or faced a material risk of such loss.