{"id":60947,"date":"2023-12-08T20:23:35","date_gmt":"2023-12-08T11:23:35","guid":{"rendered":"https:\/\/monolith.law\/cs\/?p=60947"},"modified":"2024-01-19T15:05:31","modified_gmt":"2024-01-19T06:05:31","slug":"clause-template-j-kiss","status":"publish","type":"post","link":"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss","title":{"rendered":"Jak\u00e9 jsou kl\u00ed\u010dov\u00e9 body investi\u010dn\u00edch smluv podle J-KISS?"},"content":{"rendered":"\n<p>J-KISS je syst\u00e9m, kter\u00fd umo\u017e\u0148uje jednoduch\u00e9 a rychl\u00e9 z\u00edsk\u00e1n\u00ed financ\u00ed pro startupy v semenn\u00e9 f\u00e1zi. Coral Capital (d\u0159\u00edve 500 Startups Japan), kter\u00fd J-KISS v Japonsku roz\u0161\u00ed\u0159il, vytvo\u0159il a zdarma zve\u0159ejnil vzorovou smlouvu pod dohledem odborn\u00edk\u016f, jako jsou pr\u00e1vn\u00edci. P\u0159i z\u00edsk\u00e1v\u00e1n\u00ed financ\u00ed pomoc\u00ed J-KISS se obvykle uzav\u00edr\u00e1 smlouva s investory pomoc\u00ed tohoto vzoru smlouvy. Proto je pro vyu\u017eit\u00ed J-KISS nezbytn\u00e9 porozum\u011bt jednotliv\u00fdm ustanoven\u00edm vzorov\u00e9 smlouvy. V n\u00e1sleduj\u00edc\u00edm textu vysv\u011btl\u00edme hlavn\u00ed ustanoven\u00ed vzorov\u00e9 smlouvy J-KISS.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss\/#Investicni_smlouva_J-KISS\" title=\"Investi\u010dn\u00ed smlouva J-KISS\">Investi\u010dn\u00ed smlouva J-KISS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss\/#Dulezite_body_v_investicni_smlouve_J-KISS\" title=\"D\u016fle\u017eit\u00e9 body v investi\u010dn\u00ed smlouv\u011b J-KISS\">D\u016fle\u017eit\u00e9 body v investi\u010dn\u00ed smlouv\u011b J-KISS<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss\/#Prideleni_prav_na_predkup_novych_akcii\" title=\"P\u0159id\u011blen\u00ed pr\u00e1v na p\u0159edkup nov\u00fdch akci\u00ed\">P\u0159id\u011blen\u00ed pr\u00e1v na p\u0159edkup nov\u00fdch akci\u00ed<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss\/#Prohlaseni_a_zaruky\" title=\"Prohl\u00e1\u0161en\u00ed a z\u00e1ruky\">Prohl\u00e1\u0161en\u00ed a z\u00e1ruky<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss\/#Klauzule_nejvyhodnejsi_zeme\" title=\"Klauzule nejv\u00fdhodn\u011bj\u0161\u00ed zem\u011b\">Klauzule nejv\u00fdhodn\u011bj\u0161\u00ed zem\u011b<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss\/#Prava_hlavnich_investoru\" title=\"Pr\u00e1va hlavn\u00edch investor\u016f\">Pr\u00e1va hlavn\u00edch investor\u016f<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss\/#Pravo_na_informace\" title=\"Pr\u00e1vo na informace\">Pr\u00e1vo na informace<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss\/#Pravo_na_prednostni_prijeti\" title=\"Pr\u00e1vo na p\u0159ednostn\u00ed p\u0159ijet\u00ed\">Pr\u00e1vo na p\u0159ednostn\u00ed p\u0159ijet\u00ed<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss\/#Podminky_pro_vydani_opce_na_nove_akcie_priloha\" title=\"Podm\u00ednky pro vyd\u00e1n\u00ed opce na nov\u00e9 akcie (p\u0159\u00edloha)\">Podm\u00ednky pro vyd\u00e1n\u00ed opce na nov\u00e9 akcie (p\u0159\u00edloha)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/clause-template-j-kiss\/#Shrnuti\" title=\"Shrnut\u00ed\">Shrnut\u00ed<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Investicni_smlouva_J-KISS\"><\/span>Investi\u010dn\u00ed smlouva J-KISS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Obecn\u011b p\u0159i z\u00edsk\u00e1v\u00e1n\u00ed financ\u00ed pro startupy se uzav\u00edraj\u00ed dva typy smluv: investi\u010dn\u00ed smlouva mezi investorem a startupem a smlouva mezi akcion\u00e1\u0159i, kter\u00e1 je uzav\u0159ena mezi investorem a st\u00e1vaj\u00edc\u00edmi akcion\u00e1\u0159i, jako jsou zakladatel\u00e9. Toto vedlo k tomu, \u017ee smlouvy p\u0159i p\u0159ij\u00edm\u00e1n\u00ed investic se snadno st\u00e1vaj\u00ed velmi dlouh\u00fdmi a vyjedn\u00e1v\u00e1n\u00ed o smlouv\u00e1ch samo o sob\u011b stoj\u00ed pen\u00edze.<\/p>\n\n\n\n<p>Investi\u010dn\u00ed smlouva J-KISS je co nejv\u00edce zjednodu\u0161ena a je p\u0159ipravena \u0161ablona smlouvy, kter\u00e1 vy\u017eaduje minim\u00e1ln\u00ed \u00fapravy pro ka\u017ed\u00fd p\u0159\u00edpad. Tak\u017ee pokud vyu\u017eijete J-KISS, n\u00e1klady na vyjedn\u00e1v\u00e1n\u00ed smlouvy se sn\u00ed\u017e\u00ed a z\u00edsk\u00e1n\u00ed financ\u00ed je jednoduch\u00e9 a rychl\u00e9. Pro startupy v semenn\u00e9 f\u00e1zi, kter\u00e9 jsou c\u00edlem J-KISS, je nejd\u016fle\u017eit\u011bj\u0161\u00ed dokon\u010dit z\u00edsk\u00e1v\u00e1n\u00ed financ\u00ed co nejd\u0159\u00edve a za\u010d\u00edt s nezbytn\u00fdm v\u00fdvojem syst\u00e9mu atd., co\u017e je kl\u00ed\u010dov\u00e9 pro r\u016fst budouc\u00edho podnik\u00e1n\u00ed. Toto je velk\u00e1 v\u00fdhoda vyu\u017eit\u00ed J-KISS.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dulezite_body_v_investicni_smlouve_J-KISS\"><\/span>D\u016fle\u017eit\u00e9 body v investi\u010dn\u00ed smlouv\u011b J-KISS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/05\/shutterstock_672255217-1024x682.jpg\" alt=\"\" class=\"wp-image-9532\" \/><\/figure>\n\n\n\n<p>Poj\u010fme se pod\u00edvat na d\u016fle\u017eit\u00e9 \u010dl\u00e1nky ve vzorov\u00e9 investi\u010dn\u00ed smlouv\u011b J-KISS, kterou zve\u0159ejnila spole\u010dnost Coral Capital. V \u010dl\u00e1nc\u00edch se &#8220;tato spole\u010dnost&#8221; odkazuje na startup, kter\u00fd p\u0159ij\u00edm\u00e1 investice, a &#8220;tento investor&#8221; odkazuje na venture kapit\u00e1l, kter\u00fd investuje.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prideleni_prav_na_predkup_novych_akcii\"><\/span>P\u0159id\u011blen\u00ed pr\u00e1v na p\u0159edkup nov\u00fdch akci\u00ed<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">\u010cl\u00e1nek 2.1 (P\u0159id\u011blen\u00ed a p\u0159evzet\u00ed pr\u00e1v na p\u0159edkup nov\u00fdch akci\u00ed)<br>V souladu s ustanoven\u00edmi t\u00e9to smlouvy, investor p\u0159evezme [\u25cf] pr\u00e1v na p\u0159edkup nov\u00fdch akci\u00ed (d\u00e1le jen &#8220;p\u0159evzat\u00e1 pr\u00e1va na p\u0159edkup nov\u00fdch akci\u00ed&#8221;) na den platby a zaplat\u00ed spole\u010dnosti [1,000,000] JPY za jedno pr\u00e1vo na p\u0159edkup nov\u00fdch akci\u00ed. Spole\u010dnost pot\u00e9 p\u0159id\u011bl\u00ed a vyd\u00e1 p\u0159evzat\u00e1 pr\u00e1va na p\u0159edkup nov\u00fdch akci\u00ed investorovi.<\/p>\n\n\n\n<p>Investi\u010dn\u00edm c\u00edlem v J-KISS nen\u00ed akcie startupu, ale pr\u00e1va na p\u0159edkup nov\u00fdch akci\u00ed. Proto po\u010det akci\u00ed, kter\u00e9 investor vlastn\u00ed v dob\u011b uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy, nen\u00ed stanoven. Je to v podstat\u011b investice do pr\u00e1v na p\u0159edkup nov\u00fdch akci\u00ed odpov\u00eddaj\u00edc\u00edch investi\u010dn\u00ed \u010d\u00e1stce. Ve vzorov\u00e9 smlouv\u011b je po\u010det pr\u00e1v na p\u0159edkup nov\u00fdch akci\u00ed stanoven libovoln\u011b, ale pokud neexistuj\u00ed \u017e\u00e1dn\u00e9 zvl\u00e1\u0161tn\u00ed okolnosti, m\u016f\u017ee b\u00fdt jedno pr\u00e1vo na p\u0159edkup nov\u00fdch akci\u00ed dostate\u010dn\u00e9. Cena pr\u00e1va na p\u0159edkup nov\u00fdch akci\u00ed je ve vzorov\u00e9 smlouv\u011b stanovena na 1 milion JPY, ale tato \u010d\u00e1stka m\u016f\u017ee b\u00fdt tak\u00e9 nastavena libovoln\u011b v z\u00e1vislosti na dohodnut\u00e9 investi\u010dn\u00ed \u010d\u00e1stce s investorem.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prohlaseni_a_zaruky\"><\/span>Prohl\u00e1\u0161en\u00ed a z\u00e1ruky<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u010cl\u00e1nky o prohl\u00e1\u0161en\u00edch a z\u00e1ruk\u00e1ch v investi\u010dn\u00ed smlouv\u011b se vztahuj\u00ed na prohl\u00e1\u0161en\u00ed a z\u00e1ruky smluvn\u00edch stran o ur\u010dit\u00fdch skute\u010dnostech. P\u016fvodn\u011b se jedn\u00e1 o \u010dl\u00e1nky poch\u00e1zej\u00edc\u00ed z anglo-americk\u00e9ho pr\u00e1va, kter\u00e9 se \u010dasto pou\u017e\u00edvaj\u00ed nejen v investi\u010dn\u00edch smlouv\u00e1ch, ale tak\u00e9 v obchodn\u00edch transakc\u00edch mezi spole\u010dnostmi, jako jsou f\u00faze a akvizice. Prohl\u00e1\u0161en\u00ed a z\u00e1ruky jsou podrobn\u011bji vysv\u011btleny v n\u00e1sleduj\u00edc\u00edm \u010dl\u00e1nku.<br><\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/representations-and-warranties-of-investment-contract\">https:\/\/monolith.law\/corporate\/representations-and-warranties-of-investment-contract[ja]<\/a><\/p>\n\n\n\n<p>Ve vzorov\u00e9 smlouv\u011b J-KISS jsou stanoveny n\u00e1sleduj\u00edc\u00ed prohl\u00e1\u0161en\u00ed a z\u00e1ruky ze strany startupu:<\/p>\n\n\n\n<ul>\n<li>Zalo\u017een\u00ed a existence<\/li>\n\n\n\n<li>Pravomoci<\/li>\n\n\n\n<li>Nab\u00eddka k n\u00e1kupu<\/li>\n\n\n\n<li>Neexistuje konflikt<\/li>\n\n\n\n<li>Vyd\u00e1n\u00ed akci\u00ed pro konverzi<\/li>\n\n\n\n<li>Pr\u00e1va k du\u0161evn\u00edmu vlastnictv\u00ed<\/li>\n\n\n\n<li>Soudn\u00ed \u0159\u00edzen\u00ed<\/li>\n\n\n\n<li>Antisoci\u00e1ln\u00ed s\u00edly atd.<\/li>\n\n\n\n<li>Prohl\u00e1\u0161en\u00ed<\/li>\n<\/ul>\n\n\n\n<p>Na druh\u00e9 stran\u011b, prohl\u00e1\u0161en\u00ed a z\u00e1ruky ze strany investora jsou n\u00e1sleduj\u00edc\u00ed:<\/p>\n\n\n\n<ul>\n<li>Pravomoci<\/li>\n\n\n\n<li>Skute\u010dn\u00fd n\u00e1kup<\/li>\n\n\n\n<li>Investi\u010dn\u00ed zku\u0161enosti<\/li>\n\n\n\n<li>Antisoci\u00e1ln\u00ed s\u00edly atd.<\/li>\n<\/ul>\n\n\n\n<p>\u010cl\u00e1nky o prohl\u00e1\u0161en\u00edch a z\u00e1ruk\u00e1ch v investi\u010dn\u00ed smlouv\u011b J-KISS nejsou tak slo\u017eit\u00e9 jako v b\u011b\u017en\u00e9 investi\u010dn\u00ed smlouv\u011b zalo\u017een\u00e9 na akci\u00edch. Zvl\u00e1\u0161t\u011b d\u016fle\u017eit\u00fdm bodem je &#8220;zalo\u017een\u00ed a existence&#8221;, kde startup prohla\u0161uje a zaru\u010duje, \u017ee existuje a provozuje podnik\u00e1n\u00ed tak, jak bylo p\u0159edem vysv\u011btleno investorovi. Zejm\u00e9na startupy v seed f\u00e1zi, kter\u00e9 jsou c\u00edlem J-KISS, \u010dasto je\u0161t\u011b neza\u010daly podnikat, a proto je investi\u010dn\u00ed rozhodnut\u00ed investora do ur\u010dit\u00e9 m\u00edry z\u00e1visl\u00e9 na prohl\u00e1\u0161en\u00edch startupu. Proto je z\u00e1ruka, \u017ee v prohl\u00e1\u0161en\u00edch startupu, kter\u00fd p\u0159ij\u00edm\u00e1 investice, nejsou \u017e\u00e1dn\u00e9 nepravdiv\u00e9 informace, velmi d\u016fle\u017eit\u00e1.<\/p>\n\n\n\n<p>Je t\u0159eba poznamenat, \u017ee &#8220;pravomoci&#8221;, &#8220;nab\u00eddka k n\u00e1kupu&#8221;, &#8220;neexistuje konflikt&#8221; a &#8220;vyd\u00e1n\u00ed akci\u00ed pro konverzi&#8221; jsou v\u0161echny z\u00e1ruky, \u017ee vyd\u00e1n\u00ed pr\u00e1v na p\u0159edkup nov\u00fdch akci\u00ed a jejich n\u00e1sledn\u00e1 konverze na akcie jsou v souladu s r\u016fzn\u00fdmi z\u00e1kony a intern\u00edmi p\u0159edpisy.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Klauzule_nejvyhodnejsi_zeme\"><\/span>Klauzule nejv\u00fdhodn\u011bj\u0161\u00ed zem\u011b<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">Tento investor m\u00e1 pr\u00e1vo, pokud se rozhodne, \u017ee n\u00e1sleduj\u00edc\u00ed cenn\u00e9 pap\u00edry nebo n\u00e1sleduj\u00edc\u00ed investi\u010dn\u00ed smlouva obsahuje ustanoven\u00ed, kter\u00e1 jsou v\u00fdhodn\u011bj\u0161\u00ed pro osoby, kter\u00e9 p\u0159ijaly vyd\u00e1n\u00ed nebo ud\u011blen\u00ed n\u00e1sleduj\u00edc\u00edch cenn\u00fdch pap\u00edr\u016f, nebo pro t\u0159et\u00ed strany, kter\u00e9 uzav\u0159ely n\u00e1sleduj\u00edc\u00ed investi\u010dn\u00ed smlouvu s touto spole\u010dnost\u00ed ne\u017e obsah t\u00e9to opce na nov\u00e9 akcie nebo t\u00e9to smlouvy, (i) zm\u011bnit obsah t\u00e9to smlouvy a zahrnout ustanoven\u00ed se stejn\u00fdm obsahem a\/nebo (ii) vym\u011bnit p\u0159ijatou opci na nov\u00e9 akcie za n\u00e1sleduj\u00edc\u00ed cenn\u00e9 pap\u00edry.<\/p>\n\n\n\n<p>Klauzule nejv\u00fdhodn\u011bj\u0161\u00ed zem\u011b v investi\u010dn\u00ed smlouv\u011b umo\u017e\u0148uje, \u017ee pokud dojde po investici tohoto investora k financov\u00e1n\u00ed za lep\u0161\u00edch podm\u00ednek, m\u016f\u017ee se \u010d\u00e1stka investovan\u00e1 t\u00edmto investorem zm\u011bnit na podm\u00ednky lep\u0161\u00edho financov\u00e1n\u00ed.<\/p>\n\n\n\n<p>Obecn\u011b plat\u00ed, \u017ee \u010d\u00edm d\u0159\u00edve investor investuje, t\u00edm v\u00edce riskuje, a proto je t\u0159eba chr\u00e1nit jeho zisky pomoc\u00ed klauzule nejv\u00fdhodn\u011bj\u0161\u00ed zem\u011b. Nicm\u00e9n\u011b, pokud existuje klauzule nejv\u00fdhodn\u011bj\u0161\u00ed zem\u011b, startup, kter\u00fd p\u0159ij\u00edm\u00e1 investice, mus\u00ed m\u011bnit obsah smlouvy s existuj\u00edc\u00edmi investory poka\u017ed\u00e9, kdy\u017e dojde k financov\u00e1n\u00ed, co\u017e znamen\u00e1, \u017ee je t\u0159eba v\u011bnovat pozornost administrativn\u00ed pr\u00e1ci.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prava_hlavnich_investoru\"><\/span>Pr\u00e1va hlavn\u00edch investor\u016f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>V J-KISS se definuje investor, kter\u00fd investoval ur\u010ditou \u010d\u00e1stku nebo v\u00edce, jako &#8220;hlavn\u00ed investor&#8221;, a existuj\u00ed ustanoven\u00ed, kter\u00e1 stanovuj\u00ed pr\u00e1va, kter\u00e1 jsou p\u0159izn\u00e1na pouze hlavn\u00edm investor\u016fm. V J-KISS je definice hlavn\u00edho investora v modelov\u00e9 smlouv\u011b stanovena jako 5 milion\u016f jen\u016f nebo v\u00edce, ale m\u016f\u017ee b\u00fdt zm\u011bn\u011bna podle konkr\u00e9tn\u00edho p\u0159\u00edpadu. Pr\u00e1va, kter\u00e1 jsou v J-KISS p\u0159izn\u00e1na pouze hlavn\u00edm investor\u016fm, jsou pr\u00e1vo na informace a pr\u00e1vo na p\u0159ednostn\u00ed p\u0159ijet\u00ed.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pravo_na_informace\"><\/span>Pr\u00e1vo na informace<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">(a) Tato spole\u010dnost poskytne hlavn\u00edm investor\u016fm tyto finan\u010dn\u00ed v\u00fdkazy atd. co nejd\u0159\u00edve, pokud to bude mo\u017en\u00e9 (ale nejpozd\u011bji do 30 dn\u016f od konce prvn\u00edho a\u017e t\u0159et\u00edho \u010dtvrtlet\u00ed ka\u017ed\u00e9ho obchodn\u00edho roku nebo do 90 dn\u016f od konce ka\u017ed\u00e9ho obchodn\u00edho roku), kdy\u017e o to po\u017e\u00e1daj\u00ed hlavn\u00ed investo\u0159i. Tyto finan\u010dn\u00ed v\u00fdkazy atd. mus\u00ed b\u00fdt rozumn\u011b podrobn\u00e9 a mus\u00ed b\u00fdt vytvo\u0159eny na z\u00e1klad\u011b konzistentn\u00ed politiky.<br>(b) Krom\u011b toho, tato spole\u010dnost poskytne hlavn\u00edm investor\u016fm informace o finan\u010dn\u00edm stavu a provozu spole\u010dnosti, kter\u00e9 hlavn\u00ed investo\u0159i mohou kdykoli rozumn\u011b po\u017eadovat.<\/p>\n\n\n\n<p>Informace, kter\u00e9 hlavn\u00ed investo\u0159i mohou po\u017eadovat v modelov\u00e9 smlouv\u011b J-KISS, zahrnuj\u00ed informace o finan\u010dn\u00edm stavu a provozu spole\u010dnosti, v\u010detn\u011b finan\u010dn\u00edch v\u00fdkaz\u016f. Tyto informace jsou d\u016fle\u017eit\u00e9 pro rozhodov\u00e1n\u00ed investor\u016f o investic\u00edch. Proto se uzn\u00e1v\u00e1 pr\u00e1vo na informace pro investory, kte\u0159\u00ed investovali ur\u010ditou \u010d\u00e1stku nebo v\u00edce.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pravo_na_prednostni_prijeti\"><\/span>Pr\u00e1vo na p\u0159ednostn\u00ed p\u0159ijet\u00ed<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p class=\"has-very-light-gray-background-color has-background\">(a) Tato spole\u010dnost, pokud se rozhodne vyhled\u00e1vat osoby, kter\u00e9 p\u0159ijmou nebo p\u0159ijmou ud\u011blen\u00ed t\u011bchto akci\u00ed atd. (v\u010detn\u011b vyhled\u00e1v\u00e1n\u00ed v p\u0159\u00ed\u0161t\u00edm zv\u00fd\u0161en\u00ed kapit\u00e1lu nebo vyhled\u00e1v\u00e1n\u00ed proveden\u00e9ho do t\u00e9 doby, s v\u00fdjimkou vyd\u00e1n\u00ed opc\u00ed na akcie), mus\u00ed ozn\u00e1mit hlavn\u00edm investor\u016fm p\u00edsemn\u011b nejm\u00e9n\u011b 10 pracovn\u00edch dn\u00ed p\u0159ed datem rozhodnut\u00ed o p\u0159id\u011blen\u00ed, \u017ee dojde k takov\u00e9mu vyhled\u00e1v\u00e1n\u00ed a podm\u00ednky tohoto vyhled\u00e1v\u00e1n\u00ed a \u010d\u00e1stku, kterou je t\u0159eba zaplatit za tyto akcie atd. v souvislosti s t\u00edmto vyhled\u00e1v\u00e1n\u00edm. V tomto p\u0159\u00edpad\u011b maj\u00ed hlavn\u00ed investo\u0159i pr\u00e1vo p\u0159ijmout nebo p\u0159ijmout ud\u011blen\u00ed t\u011bchto akci\u00ed atd. za stejn\u00fdch podm\u00ednek jako ostatn\u00ed investo\u0159i, kte\u0159\u00ed se \u00fa\u010dastn\u00ed tohoto vyhled\u00e1v\u00e1n\u00ed, a\u017e do celkov\u00e9 \u010d\u00e1stky, kterou je t\u0159eba zaplatit za tyto akcie atd. p\u0159ijat\u00e9 nebo ud\u011blen\u00e9 na z\u00e1klad\u011b tohoto ustanoven\u00ed, dos\u00e1hne maxim\u00e1ln\u00ed \u00fa\u010dastnick\u00e9 \u010d\u00e1stky, v jednom nebo v\u00edce vyhled\u00e1v\u00e1n\u00edch.<\/p>\n\n\n\n<p>Pr\u00e1vo na p\u0159ednostn\u00ed p\u0159ijet\u00ed je pr\u00e1vo, kter\u00e9 umo\u017e\u0148uje investorovi udr\u017eet si sv\u016fj pod\u00edl na akci\u00edch p\u0159i dal\u0161\u00edm zv\u00fd\u0161en\u00ed kapit\u00e1lu t\u00edm, \u017ee po\u017e\u00e1d\u00e1 o p\u0159ednostn\u00ed p\u0159id\u011blen\u00ed akci\u00ed. V p\u0159\u00edpad\u011b venture kapit\u00e1lu je b\u011b\u017en\u00e9, \u017ee se prov\u00e1d\u00ed n\u011bkolik kol financov\u00e1n\u00ed podle f\u00e1ze r\u016fstu spole\u010dnosti, ale pokud investor investuje pouze jednou na za\u010d\u00e1tku, jeho pod\u00edl na akci\u00edch se sni\u017euje s ka\u017ed\u00fdm zv\u00fd\u0161en\u00edm po\u010dtu vyd\u00e1van\u00fdch akci\u00ed. Pod\u00edl na akci\u00edch je p\u0159\u00edmo \u00fam\u011brn\u00fd vlivu na \u0159\u00edzen\u00ed spole\u010dnosti, co\u017e nen\u00ed pro investora \u017e\u00e1douc\u00ed. Proto je pr\u00e1vo na p\u0159ednostn\u00ed p\u0159ijet\u00ed opat\u0159en\u00ed, kter\u00e9 zohled\u0148uje z\u00e1jmy investor\u016f.<\/p>\n\n\n\n<p>Av\u0161ak v J-KISS se pod\u00edl investor\u016f na akci\u00edch neur\u010duje, dokud se opce na nov\u00e9 akcie nep\u0159evedou. Proto v J-KISS, v modelov\u00e9 smlouv\u011b, je stanovena &#8220;maxim\u00e1ln\u00ed \u00fa\u010dastnick\u00e1 \u010d\u00e1stka&#8221;, kter\u00e1 umo\u017e\u0148uje, \u017ee do t\u00e9to \u010d\u00e1stky m\u016f\u017ee investor p\u0159i dal\u0161\u00edm financov\u00e1n\u00ed prov\u00e9st dal\u0161\u00ed investice.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Podminky_pro_vydani_opce_na_nove_akcie_priloha\"><\/span>Podm\u00ednky pro vyd\u00e1n\u00ed opce na nov\u00e9 akcie (p\u0159\u00edloha)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Podrobnosti o opci na nov\u00e9 akcie, kter\u00e1 se vyd\u00e1v\u00e1 investor\u016fm, jsou uvedeny v p\u0159\u00edloze s podm\u00ednkami vyd\u00e1n\u00ed. V podm\u00ednk\u00e1ch vyd\u00e1n\u00ed jsou stanoveny z\u00e1kladn\u00ed z\u00e1le\u017eitosti, jako je po\u010det opci na nov\u00e9 akcie, \u010d\u00e1stka k zaplacen\u00ed, datum p\u0159id\u011blen\u00ed atd., stejn\u011b jako metoda v\u00fdpo\u010dtu konverzn\u00ed ceny opce na nov\u00e9 akcie. Metoda v\u00fdpo\u010dtu konverzn\u00ed ceny je d\u016fle\u017eit\u00fdm bodem jedn\u00e1n\u00ed p\u0159i investov\u00e1n\u00ed do J-KISS. Metoda v\u00fdpo\u010dtu konverzn\u00ed ceny atd. je podrobn\u011b vysv\u011btlena v n\u00e1sleduj\u00edc\u00edm \u010dl\u00e1nku.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/jkiss-investment-contract\">https:\/\/monolith.law\/corporate\/jkiss-investment-contract[ja]<\/a><\/p>\n\n\n\n<p>Krom\u011b toho, v J-KISS se p\u0159edpokl\u00e1d\u00e1, \u017ee po financov\u00e1n\u00ed dojde k financov\u00e1n\u00ed s\u00e9rie A, ale ve skute\u010dnosti nemus\u00ed v\u0161e prob\u011bhnout podle pl\u00e1nu. Proto J-KISS tak\u00e9 p\u0159edpokl\u00e1d\u00e1 n\u00e1sleduj\u00edc\u00ed sc\u00e9n\u00e1\u0159e.<\/p>\n\n\n\n<ol>\n<li>Startup je koupen p\u0159ed dosa\u017een\u00edm s\u00e9rie A<\/li>\n\n\n\n<li>Financov\u00e1n\u00ed s\u00e9rie A ani akvizice nenastanou b\u011bhem ur\u010dit\u00e9 konverzn\u00ed lh\u016fty (v modelov\u00e9 smlouv\u011b J-KISS je to 18 m\u011bs\u00edc\u016f od data p\u0159id\u011blen\u00ed opce na nov\u00e9 akcie)<\/li>\n<\/ol>\n\n\n\n<p>V p\u0159\u00edpad\u011b 1. je v podm\u00ednk\u00e1ch vyd\u00e1n\u00ed stanoveno, \u017ee investorovi se vr\u00e1t\u00ed dvojn\u00e1sobek jeho investice. V p\u0159\u00edpad\u011b 2. je tak\u00e9 stanoveno, \u017ee se p\u0159evede na b\u011b\u017en\u00e9 akcie. Sc\u00e9n\u00e1\u0159e investic po financov\u00e1n\u00ed J-KISS jsou podrobn\u011b vysv\u011btleny v n\u00e1sleduj\u00edc\u00edm \u010dl\u00e1nku.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/financing-mechanism-j-kiss\">https:\/\/monolith.law\/corporate\/financing-mechanism-j-kiss[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Shrnuti\"><\/span>Shrnut\u00ed<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Charakteristick\u00fdm rysem investic prost\u0159ednictv\u00edm J-KISS (Japonsk\u00fd jednoduch\u00fd investi\u010dn\u00ed smluvn\u00ed syst\u00e9m) je, \u017ee obsah smlouvy je jednodu\u0161\u0161\u00ed ve srovn\u00e1n\u00ed s b\u011b\u017en\u00fdmi investi\u010dn\u00edmi smlouvami. To umo\u017e\u0148uje sn\u00ed\u017eit n\u00e1klady spojen\u00e9 s vyjedn\u00e1v\u00e1n\u00edm a tvorbou smlouvy, kter\u00e9 byly tradi\u010dn\u011b vy\u017eadov\u00e1ny p\u0159i p\u0159ij\u00edm\u00e1n\u00ed investic. Nicm\u00e9n\u011b, vyjedn\u00e1v\u00e1n\u00ed je st\u00e1le nutn\u00e9 pro stanoven\u00ed metody v\u00fdpo\u010dtu konverzn\u00ed hodnoty. Doporu\u010dujeme konzultovat s odborn\u00edky, jako jsou pr\u00e1vn\u00edci, p\u0159edem o klauzul\u00edch, kter\u00e9 vy\u017eaduj\u00ed vyjedn\u00e1v\u00e1n\u00ed, proto\u017ee p\u0159ijateln\u00fd obsah se m\u016f\u017ee m\u011bnit v z\u00e1vislosti na podnikatelsk\u00e9 \u010dinnosti startupu, kter\u00fd p\u0159ij\u00edm\u00e1 investice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>J-KISS je syst\u00e9m, kter\u00fd umo\u017e\u0148uje jednoduch\u00e9 a rychl\u00e9 z\u00edsk\u00e1n\u00ed financ\u00ed pro startupy v semenn\u00e9 f\u00e1zi. Coral Capital (d\u0159\u00edve 500 Startups Japan), kter\u00fd J-KISS v Japonsku roz\u0161\u00ed\u0159il, vytvo\u0159il a zdarma zve\u0159ejni [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":62463,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,27],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/60947"}],"collection":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/comments?post=60947"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/60947\/revisions"}],"predecessor-version":[{"id":62464,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/60947\/revisions\/62464"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media\/62463"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media?parent=60947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/categories?post=60947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/tags?post=60947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}