This hereditary comital title is borne by all of Otto von Bismarck's descendants in the male line.
This hereditary princely title descends in the male line, but it is only held by the eldest son of the family.
The Duchy of Lauenburg was one of the territories which Prussia (and Austria) seized from Denmark in 1864, and the choice of this title was therefore a nod to Bismarck's career.
Upon Bismarck's death in 1898, his dukedom became extinct and his princely title passed to his eldest son, Herbert.
The heir apparent to the title is the current prince's son, Count Alexei von Bismarck (born 2006).