{"id":61269,"date":"2023-12-08T20:24:59","date_gmt":"2023-12-08T11:24:59","guid":{"rendered":"https:\/\/monolith.law\/cs\/?p=61269"},"modified":"2024-03-26T08:23:44","modified_gmt":"2024-03-25T23:23:44","slug":"investment-contract-and-shareholder-agreement","status":"publish","type":"post","link":"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement","title":{"rendered":"Vztah mezi investi\u010dn\u00edmi smlouvami a smlouvami mezi akcion\u00e1\u0159i"},"content":{"rendered":"\n<p>Pokud se pod\u00edl\u00edte na podnic\u00edch typu startup, m\u016f\u017ee se st\u00e1t, \u017ee VC a podobn\u00e9 subjekty provedou investici a uzav\u0159ou pouze investi\u010dn\u00ed smlouvu, nebo v n\u011bkter\u00fdch p\u0159\u00edpadech uzav\u0159ou jak investi\u010dn\u00ed smlouvu, tak smlouvu mezi akcion\u00e1\u0159i. Existuje mnoho r\u016fzn\u00fdch typ\u016f smluv, kter\u00e9 se uzav\u00edraj\u00ed p\u0159i investov\u00e1n\u00ed do startup\u016f a podobn\u00fdch podnik\u016f, ale je p\u0159ekvapiv\u011b m\u00e1lo lid\u00ed, kte\u0159\u00ed pln\u011b rozum\u00ed jednotliv\u00fdm typ\u016fm smluv nebo rozd\u00edl\u016fm mezi nimi.<br> V tomto \u010dl\u00e1nku tedy vysv\u011btl\u00edme, co p\u0159esn\u011b jsou investi\u010dn\u00ed smlouvy a smlouvy mezi akcion\u00e1\u0159i, a pot\u00e9 se pod\u00edv\u00e1me na jejich vz\u00e1jemn\u00fd vztah a rozd\u00edly.<\/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\/investment-contract-and-shareholder-agreement\/#Co_je_investicni_smlouva\" title=\"Co je investi\u010dn\u00ed smlouva\">Co je investi\u010dn\u00ed smlouva<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Ucastnici_investicni_smlouvy\" title=\"\u00da\u010dastn\u00edci investi\u010dn\u00ed smlouvy\">\u00da\u010dastn\u00edci investi\u010dn\u00ed smlouvy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Bezne_nazvy_investicnich_smluv\" title=\"B\u011b\u017en\u00e9 n\u00e1zvy investi\u010dn\u00edch smluv\">B\u011b\u017en\u00e9 n\u00e1zvy investi\u010dn\u00edch smluv<\/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\/investment-contract-and-shareholder-agreement\/#Hlavni_obsah_investicni_smlouvy\" title=\"Hlavn\u00ed obsah investi\u010dn\u00ed smlouvy\">Hlavn\u00ed obsah investi\u010dn\u00ed smlouvy<\/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\/investment-contract-and-shareholder-agreement\/#Co_je_smlouva_mezi_akcionari\" title=\" Co je smlouva mezi akcion\u00e1\u0159i \"> Co je smlouva mezi akcion\u00e1\u0159i <\/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\/investment-contract-and-shareholder-agreement\/#Smluvni_strany_smlouvy_mezi_akcionari\" title=\" Smluvn\u00ed strany smlouvy mezi akcion\u00e1\u0159i \"> Smluvn\u00ed strany smlouvy mezi akcion\u00e1\u0159i <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Hlavni_obsah_smlouvy_mezi_akcionari\" title=\" Hlavn\u00ed obsah smlouvy mezi akcion\u00e1\u0159i \"> Hlavn\u00ed obsah smlouvy mezi akcion\u00e1\u0159i <\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Co_je_obvykle_podepsano_pri_investici\" title=\"Co je obvykle podeps\u00e1no p\u0159i investici?\">Co je obvykle podeps\u00e1no p\u0159i investici?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Pripad_kdy_je_uzavrena_pouze_investicni_smlouva\" title=\"P\u0159\u00edpad, kdy je uzav\u0159ena pouze investi\u010dn\u00ed smlouva\">P\u0159\u00edpad, kdy je uzav\u0159ena pouze investi\u010dn\u00ed smlouva<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Pripad_kdy_jsou_uzavreny_investicni_smlouva_a_smlouva_mezi_akcionari\" title=\"P\u0159\u00edpad, kdy jsou uzav\u0159eny investi\u010dn\u00ed smlouva a smlouva mezi akcion\u00e1\u0159i\">P\u0159\u00edpad, kdy jsou uzav\u0159eny investi\u010dn\u00ed smlouva a smlouva mezi akcion\u00e1\u0159i<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Duvody_pro_ruzne_typy_smluv_uzavrenych_pri_investici\" title=\"D\u016fvody pro r\u016fzn\u00e9 typy smluv uzav\u0159en\u00fdch p\u0159i investici\">D\u016fvody pro r\u016fzn\u00e9 typy smluv uzav\u0159en\u00fdch p\u0159i investici<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Smlouva_o_rozdeleni_majetku\" title=\"Smlouva o rozd\u011blen\u00ed majetku\">Smlouva o rozd\u011blen\u00ed majetku<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Ucastnici_smlouvy_o_rozdeleni_majetku\" title=\"\u00da\u010dastn\u00edci smlouvy o rozd\u011blen\u00ed majetku\">\u00da\u010dastn\u00edci smlouvy o rozd\u011blen\u00ed majetku<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Bezne_nazvy_smlouvy_o_rozdeleni_majetku\" title=\"B\u011b\u017en\u00e9 n\u00e1zvy smlouvy o rozd\u011blen\u00ed majetku\">B\u011b\u017en\u00e9 n\u00e1zvy smlouvy o rozd\u011blen\u00ed majetku<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Hlavni_obsah_smlouvy_o_rozdeleni_majetku\" title=\"Hlavn\u00ed obsah smlouvy o rozd\u011blen\u00ed majetku\">Hlavn\u00ed obsah smlouvy o rozd\u011blen\u00ed majetku<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/investment-contract-and-shareholder-agreement\/#Shrnuti\" title=\"Shrnut\u00ed\">Shrnut\u00ed<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_je_investicni_smlouva\"><\/span>Co je investi\u010dn\u00ed smlouva<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Investi\u010dn\u00ed smlouva je smlouva, kter\u00e1 stanovuje hlavn\u00ed podm\u00ednky pro proveden\u00ed investice, kdy\u017e investor z\u00edsk\u00e1v\u00e1 akcie. Jednodu\u0161e \u0159e\u010deno, je to smlouva, kter\u00e1 stanovuje podm\u00ednky pro n\u00e1kup akci\u00ed investory, jako jsou nap\u0159\u00edklad VC (venture capital).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ucastnici_investicni_smlouvy\"><\/span>\u00da\u010dastn\u00edci investi\u010dn\u00ed smlouvy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>V investi\u010dn\u00ed smlouv\u011b jsou obvykle p\u0159edpokl\u00e1d\u00e1ni tito t\u0159i \u00fa\u010dastn\u00edci:<\/p>\n\n\n\n<ol>\n<li>Spole\u010dnost vyd\u00e1vaj\u00edc\u00ed akcie<\/li>\n\n\n\n<li>Zakladatel\u00e9 spole\u010dnosti<\/li>\n\n\n\n<li>Investor<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bezne_nazvy_investicnich_smluv\"><\/span>B\u011b\u017en\u00e9 n\u00e1zvy investi\u010dn\u00edch smluv<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Investi\u010dn\u00ed smlouvy mohou b\u00fdt ozna\u010dov\u00e1ny r\u016fzn\u00fdmi n\u00e1zvy, nap\u0159\u00edklad:<\/p>\n\n\n\n<ol>\n<li>Investi\u010dn\u00ed smlouva<\/li>\n\n\n\n<li>Smlouva o p\u0159evzet\u00ed akci\u00ed<\/li>\n\n\n\n<li>Smlouva o p\u0159evzet\u00ed dluhopis\u016f<\/li>\n\n\n\n<li>Smlouva o p\u0159evodu akci\u00ed<\/li>\n<\/ol>\n\n\n\n<p>N\u00e1zev smlouvy je pouze ozna\u010den\u00ed a neovliv\u0148uje jej\u00ed obsah.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hlavni_obsah_investicni_smlouvy\"><\/span>Hlavn\u00ed obsah investi\u010dn\u00ed smlouvy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Investi\u010dn\u00ed smlouva obvykle obsahuje n\u00e1sleduj\u00edc\u00ed ustanoven\u00ed:<\/p>\n\n\n\n<ul>\n<li>Podm\u00ednky t\u00fdkaj\u00edc\u00ed se z\u00e1kladn\u00edch aspekt\u016f investice<\/li>\n\n\n\n<li>Podm\u00ednky t\u00fdkaj\u00edc\u00ed se p\u0159edpoklad\u016f investice<\/li>\n\n\n\n<li>Podm\u00ednky t\u00fdkaj\u00edc\u00ed se akci\u00ed<\/li>\n\n\n\n<li>Podm\u00ednky t\u00fdkaj\u00edc\u00ed se \u0159\u00edzen\u00ed spole\u010dnosti<\/li>\n\n\n\n<li>Podm\u00ednky t\u00fdkaj\u00edc\u00ed se zve\u0159ej\u0148ov\u00e1n\u00ed informac\u00ed<\/li>\n\n\n\n<li>Podm\u00ednky t\u00fdkaj\u00edc\u00ed se ukon\u010den\u00ed investice (Exit) investora<\/li>\n\n\n\n<li>Obecn\u00e9 podm\u00ednky<\/li>\n<\/ul>\n\n\n\n<p>Podrobnosti o investi\u010dn\u00ed smlouv\u011b jsou vysv\u011btleny v n\u00e1sleduj\u00edc\u00edm \u010dl\u00e1nku, kter\u00fd si m\u016f\u017eete tak\u00e9 p\u0159e\u010d\u00edst.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/importance-and-necessity-of-investment-contract\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/importance-and-necessity-of-investment-contract[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_je_smlouva_mezi_akcionari\"><\/span> Co je smlouva mezi akcion\u00e1\u0159i <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p> Smlouva mezi akcion\u00e1\u0159i je dohoda, kter\u00e1 stanovuje pr\u00e1va a povinnosti mezi hlavn\u00edmi investory a vyd\u00e1vaj\u00edc\u00ed spole\u010dnost\u00ed a zakladatelsk\u00fdmi akcion\u00e1\u0159i po proveden\u00ed investice. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Smluvni_strany_smlouvy_mezi_akcionari\"><\/span> Smluvn\u00ed strany smlouvy mezi akcion\u00e1\u0159i <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p> V investi\u010dn\u00ed smlouv\u011b se p\u0159edpokl\u00e1daj\u00ed n\u00e1sleduj\u00edc\u00ed t\u0159i strany jako smluvn\u00ed strany. <\/p>\n\n\n\n<ol>\n<li> Spole\u010dnost vyd\u00e1vaj\u00edc\u00ed akcie <\/li>\n\n\n\n<li> Zakladatelsk\u00fd akcion\u00e1\u0159 <\/li>\n\n\n\n<li> Hlavn\u00ed investo\u0159i (VC atd.) <\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hlavni_obsah_smlouvy_mezi_akcionari\"><\/span> Hlavn\u00ed obsah smlouvy mezi akcion\u00e1\u0159i <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p> Hlavn\u00ed obsah smlouvy mezi akcion\u00e1\u0159i obvykle zahrnuje n\u00e1sleduj\u00edc\u00ed. <\/p>\n\n\n\n<ul>\n<li> Obsah t\u00fdkaj\u00edc\u00ed se \u0159\u00edzen\u00ed spole\u010dnosti <\/li>\n\n\n\n<li> Obsah t\u00fdkaj\u00edc\u00ed se zve\u0159ej\u0148ov\u00e1n\u00ed informac\u00ed <\/li>\n\n\n\n<li> Obsah t\u00fdkaj\u00edc\u00ed se Exitu investor\u016f <\/li>\n<\/ul>\n\n\n\n<p> Mysl\u00edm, \u017ee n\u011bkte\u0159\u00ed lid\u00e9 si mohou myslet, \u017ee hlavn\u00ed obsah smlouvy mezi akcion\u00e1\u0159i se shoduje s hlavn\u00edm obsahem investi\u010dn\u00ed smlouvy. Ve skute\u010dnosti se m\u016f\u017ee st\u00e1t, \u017ee obsah, kter\u00fd jsme uvedli jako hlavn\u00ed, se m\u016f\u017ee v investi\u010dn\u00ed smlouv\u011b a smlouv\u011b mezi akcion\u00e1\u0159i shodovat. Proto n\u00ed\u017ee vysv\u011btl\u00edme vztah mezi investi\u010dn\u00ed smlouvou a smlouvou mezi akcion\u00e1\u0159i. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_je_obvykle_podepsano_pri_investici\"><\/span>Co je obvykle podeps\u00e1no p\u0159i investici?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>P\u0159edt\u00edm, ne\u017e vysv\u011btl\u00edme vztah mezi investi\u010dn\u00ed smlouvou a smlouvou mezi akcion\u00e1\u0159i, nejprve vysv\u011btl\u00edme r\u016fzn\u00e9 typy smluv, kter\u00e9 se obvykle uzav\u00edraj\u00ed p\u0159i investici.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pripad_kdy_je_uzavrena_pouze_investicni_smlouva\"><\/span>P\u0159\u00edpad, kdy je uzav\u0159ena pouze investi\u010dn\u00ed smlouva<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Nejprve m\u016f\u017ee b\u00fdt uzav\u0159ena pouze investi\u010dn\u00ed smlouva. V tomto p\u0159\u00edpad\u011b je jedinou smlouvou investi\u010dn\u00ed smlouva, tak\u017ee je nutn\u00e9 do n\u00ed zahrnout v\u0161echny pot\u0159ebn\u00e9 informace. Proto, a\u010dkoli to z\u00e1le\u017e\u00ed na konkr\u00e9tn\u00edm p\u0159\u00edpadu, obsahuje v\u011bt\u0161inu hlavn\u00edch bod\u016f investi\u010dn\u00ed smlouvy, kter\u00e9 jsme uvedli v\u00fd\u0161e.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pripad_kdy_jsou_uzavreny_investicni_smlouva_a_smlouva_mezi_akcionari\"><\/span>P\u0159\u00edpad, kdy jsou uzav\u0159eny investi\u010dn\u00ed smlouva a smlouva mezi akcion\u00e1\u0159i<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>D\u00e1le m\u016f\u017ee b\u00fdt uzav\u0159ena investi\u010dn\u00ed smlouva a smlouva mezi akcion\u00e1\u0159i. V tomto p\u0159\u00edpad\u011b jsou informace t\u00fdkaj\u00edc\u00ed se \u0159\u00edzen\u00ed spole\u010dnosti, zve\u0159ej\u0148ov\u00e1n\u00ed informac\u00ed a exitu investora obecn\u011b stanoveny v smlouv\u011b mezi akcion\u00e1\u0159i, jak jsme uvedli v\u00fd\u0161e.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Duvody_pro_ruzne_typy_smluv_uzavrenych_pri_investici\"><\/span>D\u016fvody pro r\u016fzn\u00e9 typy smluv uzav\u0159en\u00fdch p\u0159i investici<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>V\u00fd\u0161e jsme uvedli p\u0159\u00edpady, kdy je uzav\u0159ena pouze investi\u010dn\u00ed smlouva a kdy jsou uzav\u0159eny investi\u010dn\u00ed smlouva a smlouva mezi akcion\u00e1\u0159i. Nyn\u00ed vysv\u011btl\u00edme d\u016fvody, pro\u010d m\u016f\u017eeme o\u010dek\u00e1vat r\u016fzn\u00e9 typy smluv. Pokud se pod\u00edv\u00e1me na p\u0159\u00edpad, kdy je uzav\u0159ena pouze investi\u010dn\u00ed smlouva, strany uzav\u00edraj\u00edc\u00ed smlouvu jsou, jak jsme uvedli v\u00fd\u0161e, emitent akci\u00ed, zakladatel\u00e9 a investo\u0159i. Investi\u010dn\u00ed smlouva je &#8220;smlouva&#8221;, tak\u017ee zavazuje pouze strany uzav\u00edraj\u00edc\u00ed smlouvu, tj. emitenta akci\u00ed, zakladatele a investory. Tak\u017ee nap\u0159\u00edklad, i kdy\u017e se emitent akci\u00ed, zakladatel\u00e9 a investo\u0159i dohodnou na jmenov\u00e1n\u00ed investora do dozor\u010d\u00ed rady, pokud pod\u00edl akci\u00ed zakladatel\u016f a investor\u016f nedosahuje v\u00edce ne\u017e poloviny, nemohou zakladatel\u00e9 a investo\u0159i jmenovat investora do dozor\u010d\u00ed rady sami.<\/p>\n\n\n\n<p>Takto, investi\u010dn\u00ed smlouva sama o sob\u011b nem\u016f\u017ee zav\u00e1zat ostatn\u00ed akcion\u00e1\u0159e silou smlouvy a nem\u016f\u017ee se vypo\u0159\u00e1dat s p\u0159\u00edpady, kdy by bylo nevhodn\u00e9, pokud by ostatn\u00ed akcion\u00e1\u0159i nebyli stranami smlouvy a nebyli zav\u00e1z\u00e1ni silou smlouvy.<\/p>\n\n\n\n<p>Proto je uzav\u0159ena smlouva mezi akcion\u00e1\u0159i. Strany smlouvy mezi akcion\u00e1\u0159i jsou, jak jsme vysv\u011btlili v\u00fd\u0161e, emitent akci\u00ed, zakladatel\u00e9 a hlavn\u00ed investo\u0159i (nap\u0159. VC) atd. V smlouv\u011b mezi akcion\u00e1\u0159i jsou stranami smlouvy hlavn\u00ed investo\u0159i (nap\u0159. VC) atd., tak\u017ee mohou zav\u00e1zat ostatn\u00ed akcion\u00e1\u0159e silou smlouvy a mohou dos\u00e1hnout v\u00edce ne\u017e poloviny pod\u00edlu na akci\u00edch silou smlouvy. Z t\u011bchto d\u016fvod\u016f je uzav\u0159ena smlouva mezi akcion\u00e1\u0159i, pokud je t\u0159eba zav\u00e1zat ostatn\u00ed akcion\u00e1\u0159e jako strany smlouvy, a investi\u010dn\u00ed smlouva, pokud to nen\u00ed nutn\u00e9.<\/p>\n\n\n\n<p>Av\u0161ak nap\u0159\u00edklad, pokud existuje jen m\u00e1lo investor\u016f a nen\u00ed probl\u00e9m, pokud ostatn\u00ed akcion\u00e1\u0159i nejsou zav\u00e1z\u00e1ni jako strany smlouvy, smlouva mezi akcion\u00e1\u0159i nebude uzav\u0159ena a bude uzav\u0159ena pouze investi\u010dn\u00ed smlouva. To proto, \u017ee uzav\u0159en\u00edm pouze investi\u010dn\u00ed smlouvy lze dos\u00e1hnout c\u00edle a tak\u00e9 proto, \u017ee je ni\u017e\u0161\u00ed riziko spor\u016f v budoucnosti. Nav\u00edc je mo\u017en\u00e9 zjednodu\u0161it postupy.<\/p>\n\n\n\n<p>Jak jsme vysv\u011btlili v\u00fd\u0161e, v z\u00e1vislosti na velikosti spole\u010dnosti, pod\u00edlu na akci\u00edch, v\u00fdhodnosti postup\u016f atd., m\u016f\u017eeme o\u010dek\u00e1vat r\u016fzn\u00e9 typy smluv uzav\u0159en\u00fdch p\u0159i investici.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Smlouva_o_rozdeleni_majetku\"><\/span>Smlouva o rozd\u011blen\u00ed majetku<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>P\u0159i investov\u00e1n\u00ed, jako je nap\u0159\u00edklad VC, m\u016f\u017ee b\u00fdt uzav\u0159ena smlouva o rozd\u011blen\u00ed majetku. Smlouva o rozd\u011blen\u00ed majetku je dohoda, kter\u00e1 upravuje ot\u00e1zky t\u00fdkaj\u00edc\u00ed se Exitu prost\u0159ednictv\u00edm M&amp;A, kter\u00e9 zahrnuj\u00ed zm\u011bnu \u0159\u00edzen\u00ed podniku.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ucastnici_smlouvy_o_rozdeleni_majetku\"><\/span>\u00da\u010dastn\u00edci smlouvy o rozd\u011blen\u00ed majetku<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>V r\u00e1mci smlouvy o rozd\u011blen\u00ed majetku jsou n\u00e1sleduj\u00edc\u00ed t\u0159i strany pova\u017eov\u00e1ny za \u00fa\u010dastn\u00edky smlouvy:<\/p>\n\n\n\n<ol>\n<li>Spole\u010dnost vyd\u00e1vaj\u00edc\u00ed akcie<\/li>\n\n\n\n<li>Zakladatel\u00e9 spole\u010dnosti<\/li>\n\n\n\n<li>V\u0161ichni akcion\u00e1\u0159i<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bezne_nazvy_smlouvy_o_rozdeleni_majetku\"><\/span>B\u011b\u017en\u00e9 n\u00e1zvy smlouvy o rozd\u011blen\u00ed majetku<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Smlouva o rozd\u011blen\u00ed majetku m\u016f\u017ee b\u00fdt ozna\u010dov\u00e1na r\u016fzn\u00fdmi n\u00e1zvy, nap\u0159\u00edklad:<\/p>\n\n\n\n<ol>\n<li>Smlouva o rozd\u011blen\u00ed majetku<\/li>\n\n\n\n<li>Dohoda t\u00fdkaj\u00edc\u00ed se rozd\u011blen\u00ed akcion\u00e1\u0159\u016f v souvislosti s akvizic\u00ed<\/li>\n\n\n\n<li>Dohoda mezi akcion\u00e1\u0159i<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hlavni_obsah_smlouvy_o_rozdeleni_majetku\"><\/span>Hlavn\u00ed obsah smlouvy o rozd\u011blen\u00ed majetku<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Hlavn\u00ed obsah smlouvy o rozd\u011blen\u00ed majetku zahrnuje n\u00e1sleduj\u00edc\u00ed:<\/p>\n\n\n\n<ul>\n<li>Obsah t\u00fdkaj\u00edc\u00ed se pr\u00e1va na sou\u010dasn\u00fd prodej<\/li>\n\n\n\n<li>Obsah t\u00fdkaj\u00edc\u00ed se p\u0159edpokl\u00e1dan\u00e9 likvidace<\/li>\n<\/ul>\n\n\n\n<p>Smlouva o rozd\u011blen\u00ed majetku, jak ji\u017e n\u00e1zev napov\u00edd\u00e1, je smlouva t\u00fdkaj\u00edc\u00ed se rozd\u011blen\u00ed majetku, a proto je nutn\u00e9 zav\u00e1zat v\u0161echny osoby zapojen\u00e9 do rozd\u011blen\u00ed majetku jako \u00fa\u010dastn\u00edky smlouvy. To znamen\u00e1, \u017ee v\u0161echny akcion\u00e1\u0159e, v\u010detn\u011b and\u011blsk\u00fdch investor\u016f a zam\u011bstnanc\u016f-akcion\u00e1\u0159\u016f, lze pova\u017eovat za \u00fa\u010dastn\u00edky smlouvy, co\u017e je jedna z hlavn\u00edch charakteristik.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/investment-contract-liquidation-provision\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/investment-contract-liquidation-provision[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>V\u00fd\u0161e jsme vysv\u011btlili vztah mezi investi\u010dn\u00ed smlouvou a smlouvou mezi akcion\u00e1\u0159i. Je d\u016fle\u017eit\u00e9 pe\u010dliv\u011b pochopit, jak\u00fd obsah ka\u017ed\u00e1 z t\u011bchto smluv stanovuje, a tak\u00e9 pe\u010dliv\u011b pochopit vztah mezi nimi. Ot\u00e1zka, kter\u00e9 strany by m\u011bla smlouva zavazovat, je d\u016fle\u017eit\u00e1 pro ob\u011b strany, jak pro podniky, tak pro investory jako jsou VC atd., tak\u017ee je tak\u00e9 d\u016fle\u017eit\u00e9 pe\u010dliv\u011b zkontrolovat, kdo jsou strany p\u0159i uzav\u00edr\u00e1n\u00ed smlouvy. Pro tvorbu a uzav\u00edr\u00e1n\u00ed investi\u010dn\u00edch smluv a smluv mezi akcion\u00e1\u0159i je nezbytn\u00e1 odborn\u00e1 pr\u00e1vn\u00ed znalost, tak\u017ee je vhodn\u00e9 z\u00edskat pr\u00e1vn\u00ed radu od advok\u00e1ta.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pokud se pod\u00edl\u00edte na podnic\u00edch typu startup, m\u016f\u017ee se st\u00e1t, \u017ee VC a podobn\u00e9 subjekty provedou investici a uzav\u0159ou pouze investi\u010dn\u00ed smlouvu, nebo v n\u011bkter\u00fdch p\u0159\u00edpadech uzav\u0159ou jak investi\u010dn\u00ed smlouvu, ta [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":63246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,28],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/61269"}],"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=61269"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/61269\/revisions"}],"predecessor-version":[{"id":63247,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/61269\/revisions\/63247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media\/63246"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media?parent=61269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/categories?post=61269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/tags?post=61269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}