Beyond legal ownership, psychological ownership explains important organizational outcomes. Given its prominence, it is important to understand the formation of psychological ownership Psychological motivators, through the development of control, intimate knowledge, and selfinvestment, cultivate psychological ownership. The role of affect is neglected in current explanations while psychological ownership is not only cognitive but also affective. Entrepreneurial passion as a construct bears potential to offer explanations in the entrepreneurial context. In this study, we consider the experiential processes during organizational emergence and examine the effects of entrepreneurial passion on psychological ownership of founders of small- and mediumsized technology firms. Further, as the extent to which passion influences ownership may depend on cognitive factors, we consider the moderating role of core self-evaluation in that relationship.