{"id":61463,"date":"2023-12-08T20:25:34","date_gmt":"2023-12-08T11:25:34","guid":{"rendered":"https:\/\/monolith.law\/cs\/?p=61463"},"modified":"2024-03-25T19:13:07","modified_gmt":"2024-03-25T10:13:07","slug":"importance-and-necessity-of-investment-contract","status":"publish","type":"post","link":"https:\/\/monolith.law\/cs\/general-corporate\/importance-and-necessity-of-investment-contract","title":{"rendered":"Co je investi\u010dn\u00ed smlouva? Nutnost uzav\u0159en\u00ed smlouvy pro podniky"},"content":{"rendered":"\n<p>Kdy\u017e p\u0159ij\u00edmaj\u00ed investice startupy a podobn\u00e9 firmy, mohou je z\u00edskat od zn\u00e1m\u00fdch nebo takzvan\u00fdch and\u011blsk\u00fdch investor\u016f, ale tak\u00e9 od rizikov\u00fdch kapit\u00e1lov\u00fdch fond\u016f (VC). V p\u0159\u00edpad\u011b, \u017ee investici p\u0159ij\u00edm\u00e1te od zn\u00e1m\u00e9ho, m\u016f\u017ee se st\u00e1t, \u017ee kv\u016fli existuj\u00edc\u00edmu vztahu neuzav\u0159ete investi\u010dn\u00ed smlouvu.<br> Na druhou stranu, pokud p\u0159ij\u00edm\u00e1te investici od VC, budou v\u011bt\u0161inou cht\u00edt uzav\u0159\u00edt investi\u010dn\u00ed smlouvu. P\u0159esto\u017ee se o investi\u010dn\u00edch smlouv\u00e1ch \u010dasto mluv\u00ed v souvislosti s p\u0159ij\u00edm\u00e1n\u00edm investic, mnoho lid\u00ed nem\u00e1 \u00fapln\u00e9 pochopen\u00ed toho, co takov\u00e1 smlouva obsahuje, pro\u010d je d\u016fle\u017eit\u00e1 a zda je v\u016fbec pot\u0159eba ji uzav\u00edrat. V tomto \u010dl\u00e1nku vysv\u011btl\u00edme d\u016fle\u017eitost a nutnost uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy.<\/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\/importance-and-necessity-of-investment-contract\/#Jaka_je_povaha_investicni_smlouvy\" title=\"Jak\u00e1 je povaha investi\u010dn\u00ed smlouvy\">Jak\u00e1 je povaha investi\u010dn\u00ed smlouvy<\/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\/importance-and-necessity-of-investment-contract\/#Zakladni_informace_o_investicich\" title=\"Z\u00e1kladn\u00ed informace o investic\u00edch\">Z\u00e1kladn\u00ed informace o investic\u00edch<\/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\/importance-and-necessity-of-investment-contract\/#Podminky_pro_investice\" title=\"Podm\u00ednky pro investice\">Podm\u00ednky pro investice<\/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\/importance-and-necessity-of-investment-contract\/#Obsah_tykajici_se_akcii\" title=\"Obsah t\u00fdkaj\u00edc\u00ed se akci\u00ed\">Obsah t\u00fdkaj\u00edc\u00ed se akci\u00ed<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/importance-and-necessity-of-investment-contract\/#Obsah_tykajici_se_provozu_spolecnosti\" title=\"Obsah t\u00fdkaj\u00edc\u00ed se provozu spole\u010dnosti\">Obsah t\u00fdkaj\u00edc\u00ed se provozu spole\u010dnosti<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/importance-and-necessity-of-investment-contract\/#Obsah_tykajici_se_stazeni_investic\" title=\"Obsah t\u00fdkaj\u00edc\u00ed se sta\u017een\u00ed investic\">Obsah t\u00fdkaj\u00edc\u00ed se sta\u017een\u00ed investic<\/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\/importance-and-necessity-of-investment-contract\/#Obsah_tykajici_se_obecnych_ustanoveni\" title=\"Obsah t\u00fdkaj\u00edc\u00ed se obecn\u00fdch ustanoven\u00ed\">Obsah t\u00fdkaj\u00edc\u00ed se obecn\u00fdch ustanoven\u00ed<\/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\/importance-and-necessity-of-investment-contract\/#Dulezitost_uzavreni_investicni_smlouvy\" title=\"D\u016fle\u017eitost uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy\">D\u016fle\u017eitost uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy<\/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\/importance-and-necessity-of-investment-contract\/#%E2%80%9CAbsence_of_a_contract_after_receiving_an_investment_is_highly_disadvantageous_for_the_company%E2%80%9D\" title=\"&#8220;Absence of a contract after receiving an investment is highly disadvantageous for the company&#8221;\">&#8220;Absence of a contract after receiving an investment is highly disadvantageous for the company&#8221;<\/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\/importance-and-necessity-of-investment-contract\/#Pokud_nedojde_k_uzavreni_smlouvy_nelze_potvrdit_ze_jde_o_%E2%80%9Ckapital%E2%80%9D\" title=\"Pokud nedojde k uzav\u0159en\u00ed smlouvy, nelze potvrdit, \u017ee jde o &#8220;kapit\u00e1l&#8221;\">Pokud nedojde k uzav\u0159en\u00ed smlouvy, nelze potvrdit, \u017ee jde o &#8220;kapit\u00e1l&#8221;<\/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\/importance-and-necessity-of-investment-contract\/#Investicni_smlouvy_a_smlouvy_o_celkovem_prevzeti\" title=\"Investi\u010dn\u00ed smlouvy a smlouvy o celkov\u00e9m p\u0159evzet\u00ed\">Investi\u010dn\u00ed smlouvy a smlouvy o celkov\u00e9m p\u0159evzet\u00ed<\/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\/importance-and-necessity-of-investment-contract\/#Potreba_uzavreni_investicni_smlouvy\" title=\"Pot\u0159eba uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy\">Pot\u0159eba uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/cs\/general-corporate\/importance-and-necessity-of-investment-contract\/#Shrnuti\" title=\"Shrnut\u00ed\">Shrnut\u00ed<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Jaka_je_povaha_investicni_smlouvy\"><\/span>Jak\u00e1 je povaha investi\u010dn\u00ed smlouvy<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\/2019\/09\/shutterstock_552038356-1024x684.jpg\" alt=\"\" class=\"wp-image-5012\" \/><figcaption class=\"wp-element-caption\">Vysv\u011btl\u00edme d\u016fle\u017eit\u00e9 body, kter\u00e9 je t\u0159eba vz\u00edt v \u00favahu p\u0159i uzav\u00edr\u00e1n\u00ed investi\u010dn\u00ed smlouvy.<\/figcaption><\/figure>\n\n\n\n<p>V r\u00e1mci podnik\u00e1n\u00ed se setk\u00e1v\u00e1me s r\u016fzn\u00fdmi subjekty, jako jsou firmy, management firem, investo\u0159i, akcion\u00e1\u0159i, obchodn\u00ed partne\u0159i firem atd. Investi\u010dn\u00ed smlouva je jednou z kl\u00ed\u010dov\u00fdch smluv, kter\u00e1 koordinuje z\u00e1jmy firem, jejich managementu a investor\u016f a z\u00e1rove\u0148 se sna\u017e\u00ed p\u0159edch\u00e1zet budouc\u00edm probl\u00e9m\u016fm.<\/p>\n\n\n\n<p>Obsah investi\u010dn\u00ed smlouvy obvykle zahrnuje n\u00e1sleduj\u00edc\u00ed:<\/p>\n\n\n\n<ul>\n<li>Z\u00e1kladn\u00ed informace t\u00fdkaj\u00edc\u00ed se investice<\/li>\n\n\n\n<li>Podm\u00ednky p\u0159edpokl\u00e1dan\u00e9 investice<\/li>\n\n\n\n<li>Informace t\u00fdkaj\u00edc\u00ed se akci\u00ed a provozu spole\u010dnosti<\/li>\n\n\n\n<li>Podm\u00ednky pro odstoupen\u00ed od investice<\/li>\n\n\n\n<li>Obecn\u00e9 ustanoven\u00ed<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Zakladni_informace_o_investicich\"><\/span>Z\u00e1kladn\u00ed informace o investic\u00edch<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Investo\u0159i obecn\u011b obdr\u017e\u00ed akcie. To znamen\u00e1, \u017ee z\u00e1kladn\u00edm principem investov\u00e1n\u00ed je, \u017ee investor zaplat\u00ed spole\u010dnosti pen\u00edze a spole\u010dnost vyd\u00e1 akcie investorovi.<\/p>\n\n\n\n<p>Jako z\u00e1kladn\u00ed informace o investic\u00edch jsou stanoveny klauzule t\u00fdkaj\u00edc\u00ed se typu vyd\u00e1van\u00fdch akci\u00ed, po\u010dtu vyd\u00e1van\u00fdch akci\u00ed, ceny akci\u00ed (ceny akci\u00ed), celkov\u00e9 \u010d\u00e1stky, kterou investor zaplat\u00ed, atd.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Podminky_pro_investice\"><\/span>Podm\u00ednky pro investice<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Investo\u0159i investuj\u00ed s rizikem, \u017ee by mohli p\u0159ij\u00edt o pen\u00edze. Toto riziko je t\u011b\u017ek\u00e9 \u00fapln\u011b eliminovat, ale pokud z\u00edsk\u00e1te spr\u00e1vn\u00e9 informace o firm\u011b, je mo\u017en\u00e9 riziko sn\u00ed\u017eit. Proto se \u010dasto stanovuj\u00ed klauzule t\u00fdkaj\u00edc\u00ed se p\u0159edpoklad\u016f, na kter\u00fdch investo\u0159i rozhoduj\u00ed o investici.<\/p>\n\n\n\n<p>Nap\u0159\u00edklad, firma m\u016f\u017ee investor\u016fm prohl\u00e1sit a zaru\u010dit p\u0159esnost informac\u00ed v \u00fa\u010detn\u00edch v\u00fdkazech, jako jsou rozvaha (B\/S), v\u00fdkaz zisku a ztr\u00e1ty (P\/L), v\u00fdkaz cash flow (C\/F), v\u00fdkaz o zm\u011bn\u00e1ch vlastn\u00edho kapit\u00e1lu (S\/S) atd., kter\u00e9 firma sd\u011blila investor\u016fm. Toto se naz\u00fdv\u00e1 klauzule o prohl\u00e1\u0161en\u00ed a z\u00e1ruk\u00e1ch (Representations and Warranties).<\/p>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/representations-and-warranties-of-investment-contract\" target=\"_blank\" rel=\"noreferrer noopener\">Co je klauzule o prohl\u00e1\u0161en\u00ed a z\u00e1ruk\u00e1ch v investi\u010dn\u00ed smlouv\u011b[ja]<\/a><\/p>\n\n\n\n<p>D\u00e1le, m\u016f\u017ee b\u00fdt stanovena klauzule, kter\u00e1 potvrzuje, \u017ee po sd\u011blen\u00ed informac\u00ed investor\u016fm nedo\u0161lo k \u017e\u00e1dn\u00fdm dal\u0161\u00edm ud\u00e1lostem, nebo klauzule, kter\u00e1 stanovuje, \u017ee firma p\u0159edlo\u017e\u00ed investor\u016fm d\u016fle\u017eit\u00e9 dokumenty, jako jsou z\u00e1pisy z valn\u00e9 hromady akcion\u00e1\u0159\u016f, a dal\u0161\u00ed klauzule t\u00fdkaj\u00edc\u00ed se p\u0159edpoklad\u016f, na kter\u00fdch investo\u0159i rozhoduj\u00ed o investici.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Obsah_tykajici_se_akcii\"><\/span>Obsah t\u00fdkaj\u00edc\u00ed se akci\u00ed<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A\u010dkoli mluv\u00edme obecn\u011b o akci\u00edch, jejich obsah nen\u00ed v\u017edy stejn\u00fd. Je mo\u017en\u00e9 nastavit r\u016fzn\u00fd obsah pro n\u00e1sleduj\u00edc\u00ed aspekty:<\/p>\n\n\n\n<ul>\n<li>Obsah t\u00fdkaj\u00edc\u00ed se dividend z p\u0159ebytku<\/li>\n\n\n\n<li>Obsah t\u00fdkaj\u00edc\u00ed se distribuce zbytkov\u00e9ho majetku<\/li>\n\n\n\n<li>Obsah t\u00fdkaj\u00edc\u00ed se uplat\u0148ov\u00e1n\u00ed hlasovac\u00edch pr\u00e1v na valn\u00e9 hromad\u011b akcion\u00e1\u0159\u016f<\/li>\n\n\n\n<li>Obsah t\u00fdkaj\u00edc\u00ed se p\u0159evodu akci\u00ed<\/li>\n\n\n\n<li>Obsah t\u00fdkaj\u00edc\u00ed se po\u017eadavku akcion\u00e1\u0159\u016f na n\u00e1kup akci\u00ed od spole\u010dnosti<\/li>\n\n\n\n<li>Obsah t\u00fdkaj\u00edc\u00ed se mo\u017enosti spole\u010dnosti odkoupit akcie od akcion\u00e1\u0159\u016f v p\u0159\u00edpad\u011b ur\u010dit\u00fdch ud\u00e1lost\u00ed<\/li>\n\n\n\n<li>Obsah t\u00fdkaj\u00edc\u00ed se mo\u017enosti spole\u010dnosti odkoupit v\u0161echny akcie na z\u00e1klad\u011b rozhodnut\u00ed valn\u00e9 hromady akcion\u00e1\u0159\u016f<\/li>\n\n\n\n<li>Obsah t\u00fdkaj\u00edc\u00ed se pot\u0159eby rozhodnut\u00ed valn\u00e9 hromady akcion\u00e1\u0159\u016f ur\u010dit\u00e9ho typu<\/li>\n\n\n\n<li>Obsah t\u00fdkaj\u00edc\u00ed se volby \u0159editel\u016f a dozor\u010d\u00edch rad na valn\u00e9 hromad\u011b akcion\u00e1\u0159\u016f ur\u010dit\u00e9ho typu<\/li>\n<\/ul>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/issuance-of-class-shares\" target=\"_blank\" rel=\"noreferrer noopener\">Vyd\u00e1n\u00ed akci\u00ed ur\u010dit\u00e9ho typu a jejich obsah v investi\u010dn\u00edch smlouv\u00e1ch startup\u016f[ja]<\/a><\/p>\n\n\n\n<p>Investo\u0159i cht\u011bj\u00ed z\u00edskat akcie za co nejlep\u0161\u00edch podm\u00ednek, ale spole\u010dnosti cht\u011bj\u00ed zabr\u00e1nit vyd\u00e1n\u00ed akci\u00ed, kter\u00e9 by investorem poskytly kontrolu nad spole\u010dnost\u00ed. Proto je d\u016fle\u017eit\u00e9 pe\u010dliv\u011b stanovit obsah t\u00fdkaj\u00edc\u00ed se akci\u00ed v r\u00e1mci investi\u010dn\u00ed smlouvy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Obsah_tykajici_se_provozu_spolecnosti\"><\/span>Obsah t\u00fdkaj\u00edc\u00ed se provozu spole\u010dnosti<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Existuje mnoho investor\u016f, kte\u0159\u00ed investuj\u00ed do dob\u0159e \u0159\u00edzen\u00fdch spole\u010dnost\u00ed, jako jsou ve\u0159ejn\u011b obchodovan\u00e9 spole\u010dnosti, a kte\u0159\u00ed nemaj\u00ed velk\u00fd z\u00e1jem o provoz spole\u010dnosti. Nicm\u00e9n\u011b, v p\u0159\u00edpad\u011b startup\u016f a podobn\u00fdch spole\u010dnost\u00ed, jejich\u017e provoz nemus\u00ed b\u00fdt nutn\u011b dob\u0159e \u0159\u00edzen, se m\u016f\u017ee st\u00e1t, \u017ee investo\u0159i se budou pod\u00edlet na provozu spole\u010dnosti.<\/p>\n\n\n\n<p>Proto m\u016f\u017ee b\u00fdt v obsahu investi\u010dn\u00ed smlouvy stanovena klauzule t\u00fdkaj\u00edc\u00ed se provozu spole\u010dnosti. Nap\u0159\u00edklad, pokud investuje VC (Venture Capital), m\u016f\u017ee b\u00fdt stanovena klauzule, kter\u00e1 umo\u017e\u0148uje \u0159editel\u016fm VC p\u0159ijmout pozici \u0159editele v investovan\u00e9 spole\u010dnosti, nebo klauzule, kter\u00e1 umo\u017e\u0148uje \u00fa\u010dast na sch\u016fz\u00edch spr\u00e1vn\u00ed rady investovan\u00e9 spole\u010dnosti jako pozorovatel.<\/p>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/clause-dispatching-of-company-executives\" target=\"_blank\" rel=\"noreferrer noopener\">Co je klauzule o vysl\u00e1n\u00ed \u0159editel\u016f v investi\u010dn\u00ed smlouv\u011b[ja]<\/a><\/p>\n\n\n\n<p>Krom\u011b toho, m\u016f\u017ee b\u00fdt tak\u00e9 stanovena klauzule, kter\u00e1 vy\u017eaduje souhlas nebo schv\u00e1len\u00ed investor\u016f, kdy\u017e spole\u010dnost rozhoduje, nebo klauzule, kter\u00e1 vy\u017eaduje, aby spole\u010dnost informovala investory o ur\u010dit\u00fdch z\u00e1le\u017eitostech t\u00fdkaj\u00edc\u00edch se provozu spole\u010dnosti.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Obsah_tykajici_se_stazeni_investic\"><\/span>Obsah t\u00fdkaj\u00edc\u00ed se sta\u017een\u00ed investic<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>V r\u00e1mci investi\u010dn\u00ed smlouvy jsou stanoveny r\u016fzn\u00e9 dolo\u017eky, jak bylo uvedeno v\u00fd\u0161e, ale je mo\u017en\u00e9, \u017ee strany mohou poru\u0161it investi\u010dn\u00ed smlouvu. Proto m\u016f\u017ee b\u00fdt stanovena dolo\u017eka t\u00fdkaj\u00edc\u00ed se sta\u017een\u00ed investor\u016f z investic v p\u0159\u00edpad\u011b, \u017ee dojde k poru\u0161en\u00ed investi\u010dn\u00ed smlouvy.<\/p>\n\n\n\n<p>Nap\u0159\u00edklad, m\u016f\u017ee nastat situace, kdy spole\u010dnost poru\u0161\u00ed investi\u010dn\u00ed smlouvu a investor se st\u00e1hne z investice. V tomto p\u0159\u00edpad\u011b by investor mohl prodat akcie, kter\u00e9 p\u0159evzal od spole\u010dnosti, kter\u00e1 vydala akcie, nebo od jednotliv\u00e9ho z\u00e1stupce spole\u010dnosti, a st\u00e1hnout se z investice.<\/p>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/investment-stock-purchase-clause\" target=\"_blank\" rel=\"noreferrer noopener\">Co je dolo\u017eka o odkupu akci\u00ed v investi\u010dn\u00ed smlouv\u011b[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Obsah_tykajici_se_obecnych_ustanoveni\"><\/span>Obsah t\u00fdkaj\u00edc\u00ed se obecn\u00fdch ustanoven\u00ed<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Investo\u0159i nemohou rozhodnout o investici bez jak\u00fdchkoli informac\u00ed. Proto je obvykl\u00e9, \u017ee od spole\u010dnost\u00ed jsou investo\u0159i poskytov\u00e1ny ur\u010dit\u00e9 informace, ale aby se zabr\u00e1nilo situaci, kdy by investor mohl informace uniknout t\u0159et\u00ed stran\u011b, v investi\u010dn\u00ed smlouv\u011b jsou obvykle stanovena ustanoven\u00ed t\u00fdkaj\u00edc\u00ed se d\u016fv\u011brnosti.<\/p>\n\n\n\n<p>D\u00e1le m\u016f\u017eeme p\u0159edpokl\u00e1dat, \u017ee v investi\u010dn\u00ed smlouv\u011b budou stanovena ustanoven\u00ed t\u00fdkaj\u00edc\u00ed se doby trv\u00e1n\u00ed investi\u010dn\u00ed smlouvy, ustanoven\u00ed t\u00fdkaj\u00edc\u00ed se konzultac\u00ed mezi spole\u010dnost\u00ed a investorem, a ustanoven\u00ed pro p\u0159\u00edpad vzniku sporu mezi spole\u010dnost\u00ed a investorem, jako je ustanoven\u00ed o soudn\u00ed pravomoci.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dulezitost_uzavreni_investicni_smlouvy\"><\/span>D\u016fle\u017eitost uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy<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\/2019\/09\/shutterstock_599411303-1024x731.jpg\" alt=\"\" class=\"wp-image-5013\" \/><figcaption class=\"wp-element-caption\">Jak\u00e1 je nutnost a d\u016fle\u017eitost investi\u010dn\u00ed smlouvy?<\/figcaption><\/figure>\n\n\n\n<p>Jak jsme v\u00fd\u0161e vysv\u011btlili obsah investi\u010dn\u00ed smlouvy, ve skute\u010dnosti uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy nen\u00ed postupem vy\u017eadovan\u00fdm podle japonsk\u00e9ho obchodn\u00edho z\u00e1kon\u00edku (Japanese Company Law). Je mo\u017en\u00e9, aby spole\u010dnost vydala akcie i bez uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy. Nicm\u00e9n\u011b, uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy je d\u016fle\u017eit\u00e9 z n\u00e1sleduj\u00edc\u00edch d\u016fvod\u016f.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E2%80%9CAbsence_of_a_contract_after_receiving_an_investment_is_highly_disadvantageous_for_the_company%E2%80%9D\"><\/span>&#8220;Absence of a contract after receiving an investment is highly disadvantageous for the company&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Firstly, in terms of investment, the situation where there is no contract at all is a &#8220;favorable&#8221; situation for the investor, not for the company receiving the investment. This may be difficult to understand, especially for venture companies receiving investment for the first time, so I will explain it in a little more detail below.<\/p>\n\n\n\n<p>First, if only the phenomenon of &#8220;the investor has transferred money to the company&#8221; exists, if the investor decides after the fact that &#8220;this company should not be invested in&#8221;, the company is at a disadvantage. If only the phenomenon of &#8220;the investor has transferred money to the company&#8221; exists, it is not clear whether the money is:<\/p>\n\n\n\n<ol>\n<li>Investment funds transferred as &#8220;investment&#8221;<\/li>\n\n\n\n<li>Deposit money transferred in advance for 1<\/li>\n\n\n\n<li>(Money transferred in the form of a loan, etc., without any legal cause)<\/li>\n<\/ol>\n\n\n\n<p>Because its nature is not determined. Therefore, the investor has room to demand a refund from the company, saying, &#8220;The money I transferred before was a deposit.&#8221; On the other hand, if you decide that &#8220;you should invest after all&#8221;, the investor can ask the company, &#8220;By the way, the contract has not been concluded yet, so let&#8217;s make an investment contract.&#8221; Therefore, in the case of &#8220;money has been transferred but there is no contract&#8221;, the investor has the option of:<\/p>\n\n\n\n<ul>\n<li>Ask for a refund if you think the investment is a failure<\/li>\n\n\n\n<li>Ask for the conclusion of an investment contract if you think the investment is successful<\/li>\n<\/ul>\n\n\n\n<p>This is a very &#8220;disadvantageous&#8221; situation from the perspective of the company receiving the investment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pokud_nedojde_k_uzavreni_smlouvy_nelze_potvrdit_ze_jde_o_%E2%80%9Ckapital%E2%80%9D\"><\/span>Pokud nedojde k uzav\u0159en\u00ed smlouvy, nelze potvrdit, \u017ee jde o &#8220;kapit\u00e1l&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Jin\u00fdmi slovy, uzav\u0159en\u00ed smlouvy o investici z pohledu firmy potvrzuje, \u017ee pen\u00edze, kter\u00e9 byly p\u0159ijaty, nejsou vklad nebo p\u016fj\u010dka, ale investice a tedy kapit\u00e1l.<\/p>\n\n\n\n<p>D\u00e1le bych cht\u011bl dodat, \u017ee zejm\u00e9na u startup\u016f v seed f\u00e1zi, jakmile p\u0159ijmou pen\u00edze od investor\u016f, pravd\u011bpodobn\u011b je rychle vyu\u017eij\u00ed na investice do podnik\u00e1n\u00ed. Proto nen\u00ed neobvykl\u00e9, \u017ee pokud jsou po\u017e\u00e1d\u00e1ni o vr\u00e1cen\u00ed pen\u011bz ex post, tyto pen\u00edze ji\u017e nejsou na \u00fa\u010dtu. To d\u00e1le znev\u00fdhod\u0148uje firmu. Investo\u0159i maj\u00ed mo\u017enost:<\/p>\n\n\n\n<ul>\n<li>Po\u017eadovat vr\u00e1cen\u00ed pen\u011bz, pokud se domn\u00edvaj\u00ed, \u017ee investice selhala<\/li>\n\n\n\n<li>Po\u017eadovat uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy, pokud se domn\u00edvaj\u00ed, \u017ee investice byla \u00fasp\u011b\u0161n\u00e1. Nicm\u00e9n\u011b, pokud na \u00fa\u010dtu firmy nejsou \u017e\u00e1dn\u00e9 pen\u00edze, ji\u017e nemaj\u00ed mo\u017enost odm\u00edtnout uzav\u0159en\u00ed smlouvy, proto\u017ee podm\u00ednky investi\u010dn\u00ed smlouvy jsou nev\u00fdhodn\u00e9. I p\u0159es nev\u00fdhodn\u00e9 podm\u00ednky mus\u00ed firma smlouvu uzav\u0159\u00edt. Jako investor mohou prosadit jak\u00e9koliv podm\u00ednky, kter\u00e9 jsou pro n\u011b v\u00fdhodn\u00e9<\/li>\n<\/ul>\n\n\n\n<p>To je d\u016fvod, pro\u010d maj\u00ed tuto mo\u017enost.<\/p>\n\n\n\n<p>Z pohledu firmy je situace, kdy &#8220;p\u0159ijali investici, ale nemaj\u00ed smlouvu&#8221;, velmi nev\u00fdhodn\u00e1.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Investicni_smlouvy_a_smlouvy_o_celkovem_prevzeti\"><\/span>Investi\u010dn\u00ed smlouvy a smlouvy o celkov\u00e9m p\u0159evzet\u00ed<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Av\u0161ak, situace, kdy &#8220;firma p\u0159ijala investici od investora, ale nakonec neexistuje \u017e\u00e1dn\u00e1 smlouva t\u00fdkaj\u00edc\u00ed se t\u00e9to investice&#8221;, je v z\u00e1sad\u011b nemo\u017en\u00e1.<\/p>\n\n\n\n<p>Kdy\u017e spole\u010dnost vyd\u00e1 nov\u00e9 akcie, mus\u00ed b\u00fdt zm\u011bna zaregistrov\u00e1na na m\u00edst\u011b jej\u00edho hlavn\u00edho s\u00eddla do dvou t\u00fddn\u016f od doby, kdy nabyla \u00fa\u010dinnosti (Japonsk\u00fd z\u00e1kon o spole\u010dnostech \u010dl. 915 odst. 1, stejn\u00fd z\u00e1kon \u010dl. 911 odst. 3). P\u0159i pod\u00e1n\u00ed \u017e\u00e1dosti o registraci je nutn\u00e9 p\u0159ilo\u017eit &#8220;smlouvu o celkov\u00e9m p\u0159evzet\u00ed&#8221;, a proto je nutn\u00e9 uzav\u0159\u00edt investi\u010dn\u00ed smlouvu a jasn\u011b specifikovat obsah investice.<\/p>\n\n\n\n<p>P\u0159esto v\u0161ak existuje mnoho p\u0159\u00edpad\u016f, kdy se smlouva o celkov\u00e9m p\u0159evzet\u00ed vytv\u00e1\u0159\u00ed ne p\u0159ed realizac\u00ed investice, ale a\u017e po n\u00ed, pro \u00fa\u010dely registrace. Tak\u017ee nakonec,<\/p>\n\n\n\n<ol>\n<li>uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy,<\/li>\n\n\n\n<li>p\u0159evod pen\u011bz,<\/li>\n\n\n\n<li>uzav\u0159en\u00ed smlouvy o celkov\u00e9m p\u0159evzet\u00ed,<\/li>\n<\/ol>\n\n\n\n<p>se st\u00e1v\u00e1 postupem, a pak vznik\u00e1 mezera mezi kroky 2 a 3, kdy &#8220;pen\u00edze byly p\u0159evedeny, ale neexistuje \u017e\u00e1dn\u00e1 smlouva&#8221;.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Potreba_uzavreni_investicni_smlouvy\"><\/span>Pot\u0159eba uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Z v\u00fd\u0161e uveden\u00fdch d\u016fvod\u016f je velmi d\u016fle\u017eit\u00e9 uzav\u0159\u00edt investi\u010dn\u00ed smlouvu. V p\u0159\u00edpad\u011b, \u017ee investorem je VC (Venture Capital), je situace, kdy se neuzav\u0159e investi\u010dn\u00ed smlouva, pova\u017eov\u00e1na za vz\u00e1cnou. Nicm\u00e9n\u011b, v p\u0159\u00edpad\u011b bl\u00edzk\u00fdch vztah\u016f, jako jsou zn\u00e1m\u00ed, m\u016f\u017ee b\u00fdt uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy zanedb\u00e1no.<\/p>\n\n\n\n<p>I kdy\u017e existuje osobn\u00ed vztah, je t\u0159eba vz\u00edt v \u00favahu, \u017ee tento vztah se m\u016f\u017ee rozpadnout. Proto bychom m\u011bli uzav\u0159\u00edt investi\u010dn\u00ed smlouvu v jak\u00e9koli situaci.<\/p>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/seedround-conclusion-investment-contract\" target=\"_blank\" rel=\"noreferrer noopener\">Pot\u0159eba uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy v seed round[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 d\u016fle\u017eitost a nutnost uzav\u0159en\u00ed investi\u010dn\u00ed smlouvy. Investice zahrnuj\u00ed pohyb nemal\u00fdch \u010d\u00e1stek pen\u011bz, a proto je nezbytn\u00e9 pe\u010dliv\u011b zv\u00e1\u017eit obsah investi\u010dn\u00ed smlouvy a uzav\u0159\u00edt ji. Nav\u00edc, investi\u010dn\u00ed smlouva nen\u00ed jednoduchou smlouvou jako kupn\u00ed nebo n\u00e1jemn\u00ed smlouva, tak\u017ee se ujist\u011bte, \u017ee ji nech\u00e1te vytvo\u0159it pr\u00e1vn\u00edkem, kter\u00fd je odborn\u00edkem v oboru, nebo se podrobte pr\u00e1vn\u00ed kontrole pr\u00e1vn\u00edkem.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kdy\u017e p\u0159ij\u00edmaj\u00ed investice startupy a podobn\u00e9 firmy, mohou je z\u00edskat od zn\u00e1m\u00fdch nebo takzvan\u00fdch and\u011blsk\u00fdch investor\u016f, ale tak\u00e9 od rizikov\u00fdch kapit\u00e1lov\u00fdch fond\u016f (VC). V p\u0159\u00edpad\u011b, \u017ee investici p\u0159ij\u00edm\u00e1te od [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":63133,"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\/61463"}],"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=61463"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/61463\/revisions"}],"predecessor-version":[{"id":63134,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/61463\/revisions\/63134"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media\/63133"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media?parent=61463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/categories?post=61463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/tags?post=61463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}