{"id":65408,"date":"2024-02-16T19:46:18","date_gmt":"2024-02-16T10:46:18","guid":{"rendered":"https:\/\/monolith.law\/el\/?p=65408"},"modified":"2024-04-05T10:45:08","modified_gmt":"2024-04-05T01:45:08","slug":"venture-capital-investment","status":"publish","type":"post","link":"https:\/\/monolith.law\/el\/general-corporate\/venture-capital-investment","title":{"rendered":"\u03a4\u03bf \u03a6\u03cd\u03bb\u03bb\u03bf \u038c\u03c1\u03c9\u03bd \u03c4\u03b7\u03c2 \u03a3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03c9\u03c2 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2 \u03c3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b7\u03bd \u0391\u03cd\u03be\u03b7\u03c3\u03b7 \u039a\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5 \u03bc\u03ad\u03c3\u03c9 \u0391\u03bd\u03ac\u03b8\u03b5\u03c3\u03b7\u03c2 \u03c3\u03b5 \u03a4\u03c1\u03af\u03c4\u03bf\u03c5\u03c2"},"content":{"rendered":"\n<p>\u038c\u03c4\u03b1\u03bd \u03bc\u03b9\u03b1 \u03b5\u03ba\u03ba\u03b9\u03bd\u03bf\u03cd\u03c3\u03b1 \u03b5\u03c0\u03b9\u03c7\u03b5\u03af\u03c1\u03b7\u03c3\u03b7 (startup) \u03c0\u03c1\u03bf\u03c3\u03b5\u03b3\u03b3\u03af\u03b6\u03b5\u03b9 \u03ad\u03bd\u03b1\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03cc \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf (Venture Capital &#8211; VC) \u03ae \u03ac\u03bb\u03bb\u03bf\u03c5\u03c2 \u03c4\u03c1\u03af\u03c4\u03bf\u03c5\u03c2 \u03b3\u03b9\u03b1 \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03bf\u03b4\u03cc\u03c4\u03b7\u03c3\u03b7, \u03b5\u03af\u03bd\u03b1\u03b9 \u03c3\u03c5\u03bd\u03ae\u03b8\u03c9\u03c2 \u03bd\u03b1 \u03b1\u03bd\u03b1\u03c4\u03af\u03b8\u03b5\u03bd\u03c4\u03b1\u03b9 \u03bd\u03ad\u03b5\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03c3\u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03bc\u03ad\u03c3\u03c9 \u03bc\u03b9\u03b1\u03c2 \u03b1\u03cd\u03be\u03b7\u03c3\u03b7\u03c2 \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5 \u03bc\u03b5 \u03c4\u03c1\u03af\u03c4\u03bf\u03c5\u03c2. \u039a\u03b1\u03c4\u03ac \u03c4\u03b7 \u03b4\u03b9\u03b1\u03b4\u03b9\u03ba\u03b1\u03c3\u03af\u03b1 \u03b1\u03c5\u03c4\u03ae\u03c2 \u03c4\u03b7\u03c2 \u03b1\u03cd\u03be\u03b7\u03c3\u03b7\u03c2 \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5, \u03bb\u03cc\u03b3\u03c9 \u03c4\u03b7\u03c2 \u03c0\u03bf\u03b9\u03ba\u03b9\u03bb\u03af\u03b1\u03c2 \u03c4\u03c9\u03bd \u03b8\u03b5\u03bc\u03ac\u03c4\u03c9\u03bd \u03c0\u03bf\u03c5 \u03c0\u03c1\u03ad\u03c0\u03b5\u03b9 \u03bd\u03b1 \u03ba\u03b1\u03b8\u03bf\u03c1\u03b9\u03c3\u03c4\u03bf\u03cd\u03bd \u03c3\u03c4\u03b7\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ae \u03c3\u03c5\u03bc\u03c6\u03c9\u03bd\u03af\u03b1, \u03c3\u03c5\u03c7\u03bd\u03ac \u03b4\u03b7\u03bc\u03b9\u03bf\u03c5\u03c1\u03b3\u03b5\u03af\u03c4\u03b1\u03b9 \u03ad\u03bd\u03b1 term sheet \u03ba\u03b1\u03c4\u03ac \u03c4\u03bf \u03c3\u03c4\u03ac\u03b4\u03b9\u03bf \u03c4\u03c9\u03bd \u03b4\u03b9\u03b1\u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b5\u03cd\u03c3\u03b5\u03c9\u03bd. \u0398\u03b1 \u03b5\u03be\u03b7\u03b3\u03ae\u03c3\u03c9 \u03c0\u03bf\u03b9\u03b1 \u03b8\u03ad\u03bc\u03b1\u03c4\u03b1 \u03c0\u03b5\u03c1\u03b9\u03bb\u03b1\u03bc\u03b2\u03ac\u03bd\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c3\u03c5\u03bd\u03ae\u03b8\u03c9\u03c2 \u03c3\u03c4\u03bf term sheet \u03c4\u03b7\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ae\u03c2 \u03c3\u03c5\u03bc\u03c6\u03c9\u03bd\u03af\u03b1\u03c2 \u03ba\u03b1\u03b9 \u03b1\u03c0\u03bf\u03c4\u03b5\u03bb\u03bf\u03cd\u03bd \u03ba\u03c1\u03af\u03c3\u03b9\u03bc\u03b1 \u03c3\u03b7\u03bc\u03b5\u03af\u03b1 \u03ba\u03b1\u03c4\u03ac \u03c4\u03b9\u03c2 \u03b4\u03b9\u03b1\u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b5\u03cd\u03c3\u03b5\u03b9\u03c2.<\/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\/el\/general-corporate\/venture-capital-investment\/#%CE%A4%CE%B9_%CE%B5%CE%AF%CE%BD%CE%B1%CE%B9_%CE%B7_%CE%A3%CF%8D%CE%BC%CE%B2%CE%B1%CF%83%CE%B7_%CE%95%CF%80%CE%AD%CE%BD%CE%B4%CF%85%CF%83%CE%B7%CF%82\" title=\"\u03a4\u03b9 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b7 \u03a3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2\">\u03a4\u03b9 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b7 \u03a3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2<\/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\/el\/general-corporate\/venture-capital-investment\/#%CE%A4%CF%8D%CF%80%CE%BF%CE%B9_%CE%A3%CF%85%CE%BC%CE%B2%CE%AC%CF%83%CE%B5%CF%89%CE%BD_%CE%95%CF%80%CE%AD%CE%BD%CE%B4%CF%85%CF%83%CE%B7%CF%82\" title=\"\u03a4\u03cd\u03c0\u03bf\u03b9 \u03a3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03c9\u03bd \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2\">\u03a4\u03cd\u03c0\u03bf\u03b9 \u03a3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03c9\u03bd \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2<\/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\/el\/general-corporate\/venture-capital-investment\/#%CE%97_%CE%91%CF%8D%CE%BE%CE%B7%CF%83%CE%B7_%CE%9A%CE%B5%CF%86%CE%B1%CE%BB%CE%B1%CE%AF%CE%BF%CF%85_%CE%BC%CE%AD%CF%83%CF%89_%CE%A4%CF%81%CE%AF%CF%84%CF%89%CE%BD_%CF%83%CF%84%CE%B7_%CE%A3%CF%8D%CE%BC%CE%B2%CE%B1%CF%83%CE%B7_%CE%95%CF%80%CE%AD%CE%BD%CE%B4%CF%85%CF%83%CE%B7%CF%82\" title=\"\u0397 \u0391\u03cd\u03be\u03b7\u03c3\u03b7 \u039a\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5 \u03bc\u03ad\u03c3\u03c9 \u03a4\u03c1\u03af\u03c4\u03c9\u03bd \u03c3\u03c4\u03b7 \u03a3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2\">\u0397 \u0391\u03cd\u03be\u03b7\u03c3\u03b7 \u039a\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5 \u03bc\u03ad\u03c3\u03c9 \u03a4\u03c1\u03af\u03c4\u03c9\u03bd \u03c3\u03c4\u03b7 \u03a3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/el\/general-corporate\/venture-capital-investment\/#%CE%A4%CE%B1_Term_Sheets_%CF%83%CF%84%CE%B9%CF%82_%CE%A3%CF%85%CE%BC%CE%B2%CE%AC%CF%83%CE%B5%CE%B9%CF%82_%CE%95%CF%80%CE%AD%CE%BD%CE%B4%CF%85%CF%83%CE%B7%CF%82\" title=\"\u03a4\u03b1 Term Sheets \u03c3\u03c4\u03b9\u03c2 \u03a3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2\">\u03a4\u03b1 Term Sheets \u03c3\u03c4\u03b9\u03c2 \u03a3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/el\/general-corporate\/venture-capital-investment\/#%CE%97_%CE%A3%CE%B7%CE%BC%CE%B1%CF%83%CE%AF%CE%B1_%CF%84%CE%BF%CF%85_%CE%A6%CF%8D%CE%BB%CE%BB%CE%BF%CF%85_%CE%8C%CF%81%CF%89%CE%BD\" title=\"\u0397 \u03a3\u03b7\u03bc\u03b1\u03c3\u03af\u03b1 \u03c4\u03bf\u03c5 \u03a6\u03cd\u03bb\u03bb\u03bf\u03c5 \u038c\u03c1\u03c9\u03bd\">\u0397 \u03a3\u03b7\u03bc\u03b1\u03c3\u03af\u03b1 \u03c4\u03bf\u03c5 \u03a6\u03cd\u03bb\u03bb\u03bf\u03c5 \u038c\u03c1\u03c9\u03bd<\/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\/el\/general-corporate\/venture-capital-investment\/#%CE%A3%CF%84%CE%BF%CE%B9%CF%87%CE%B5%CE%AF%CE%B1_%CE%A6%CF%8D%CE%BB%CE%BB%CE%BF%CF%85_%CE%8C%CF%81%CF%89%CE%BD\" title=\"\u03a3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1 \u03a6\u03cd\u03bb\u03bb\u03bf\u03c5 \u038c\u03c1\u03c9\u03bd\">\u03a3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1 \u03a6\u03cd\u03bb\u03bb\u03bf\u03c5 \u038c\u03c1\u03c9\u03bd<\/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\/el\/general-corporate\/venture-capital-investment\/#%CE%98%CE%AD%CE%BC%CE%B1%CF%84%CE%B1_%CE%A3%CF%87%CE%B5%CF%84%CE%B9%CE%BA%CE%AC_%CE%BC%CE%B5_%CF%84%CE%B9%CF%82_%CE%9A%CE%B1%CF%84%CE%B7%CE%B3%CE%BF%CF%81%CE%AF%CE%B5%CF%82_%CE%9C%CE%B5%CF%84%CE%BF%CF%87%CF%8E%CE%BD\" title=\"\u0398\u03ad\u03bc\u03b1\u03c4\u03b1 \u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b9\u03c2 \u039a\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b5\u03c2 \u039c\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd\">\u0398\u03ad\u03bc\u03b1\u03c4\u03b1 \u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b9\u03c2 \u039a\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b5\u03c2 \u039c\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd<\/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\/el\/general-corporate\/venture-capital-investment\/#%CE%98%CE%AD%CE%BC%CE%B1%CF%84%CE%B1_%CE%A3%CF%87%CE%B5%CF%84%CE%B9%CE%BA%CE%AC_%CE%BC%CE%B5_%CF%84%CE%B9%CF%82_%CE%9C%CE%B5%CF%84%CE%BF%CF%87%CE%AD%CF%82\" title=\"\u0398\u03ad\u03bc\u03b1\u03c4\u03b1 \u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b9\u03c2 \u039c\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2\">\u0398\u03ad\u03bc\u03b1\u03c4\u03b1 \u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b9\u03c2 \u039c\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/el\/general-corporate\/venture-capital-investment\/#%CE%98%CE%AD%CE%BC%CE%B1%CF%84%CE%B1_%CE%94%CE%B9%CE%BF%CE%AF%CE%BA%CE%B7%CF%83%CE%B7%CF%82_%CE%95%CF%84%CE%B1%CE%B9%CF%81%CE%B5%CE%AF%CE%B1%CF%82\" title=\"\u0398\u03ad\u03bc\u03b1\u03c4\u03b1 \u0394\u03b9\u03bf\u03af\u03ba\u03b7\u03c3\u03b7\u03c2 \u0395\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2\">\u0398\u03ad\u03bc\u03b1\u03c4\u03b1 \u0394\u03b9\u03bf\u03af\u03ba\u03b7\u03c3\u03b7\u03c2 \u0395\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2<\/a><\/li><\/ul><\/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\/el\/general-corporate\/venture-capital-investment\/#%CE%A3%CF%85%CE%BD%CE%BF%CF%80%CF%84%CE%B9%CE%BA%CE%AC\" title=\"\u03a3\u03c5\u03bd\u03bf\u03c0\u03c4\u03b9\u03ba\u03ac\">\u03a3\u03c5\u03bd\u03bf\u03c0\u03c4\u03b9\u03ba\u03ac<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%CE%A4%CE%B9_%CE%B5%CE%AF%CE%BD%CE%B1%CE%B9_%CE%B7_%CE%A3%CF%8D%CE%BC%CE%B2%CE%B1%CF%83%CE%B7_%CE%95%CF%80%CE%AD%CE%BD%CE%B4%CF%85%CF%83%CE%B7%CF%82\"><\/span>\u03a4\u03b9 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b7 \u03a3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u038c\u03c4\u03b1\u03bd \u03bc\u03b9\u03b1 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03bb\u03b1\u03bc\u03b2\u03ac\u03bd\u03b5\u03b9 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7 \u03b1\u03c0\u03cc VC (Venture Capital) \u03ae \u03ac\u03bb\u03bb\u03bf\u03c5\u03c2 \u03c4\u03c1\u03af\u03c4\u03bf\u03c5\u03c2, \u03b5\u03af\u03bd\u03b1\u03b9 \u03b1\u03c0\u03b1\u03c1\u03b1\u03af\u03c4\u03b7\u03c4\u03bf \u03bd\u03b1 \u03c3\u03c5\u03bd\u03ac\u03c8\u03b5\u03b9 \u03bc\u03b9\u03b1 \u03c3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u03c0\u03bf\u03c5 \u03b8\u03b1 \u03ba\u03b1\u03b8\u03bf\u03c1\u03af\u03b6\u03b5\u03b9 \u03c4\u03bf\u03c5\u03c2 \u03cc\u03c1\u03bf\u03c5\u03c2 \u03c4\u03b7\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2. \u039f\u03b9 \u03c3\u03c5\u03bc\u03b2\u03b1\u03bb\u03bb\u03cc\u03bc\u03b5\u03bd\u03bf\u03b9 \u03c3\u03b5 \u03b1\u03c5\u03c4\u03ae \u03c4\u03b7 \u03c3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b7 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03c0\u03bf\u03c5 \u03bb\u03b1\u03bc\u03b2\u03ac\u03bd\u03b5\u03b9 \u03c4\u03b7\u03bd \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7, \u03bf\u03b9 \u03c5\u03c6\u03b9\u03c3\u03c4\u03ac\u03bc\u03b5\u03bd\u03bf\u03b9 \u03bc\u03ad\u03c4\u03bf\u03c7\u03bf\u03b9 \u03cc\u03c0\u03c9\u03c2 \u03bf\u03b9 \u03b9\u03b4\u03c1\u03c5\u03c4\u03ad\u03c2, \u03ba\u03b1\u03b9 \u03bf\u03b9 \u03bd\u03ad\u03bf\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03cc\u03c0\u03c9\u03c2 \u03c4\u03b1 VC.<\/p>\n\n\n\n<p>\u0397 \u03c3\u03cd\u03bd\u03b1\u03c8\u03b7 \u03bc\u03b9\u03b1\u03c2 \u03c3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2 \u03b4\u03b5\u03bd \u03b1\u03c0\u03b1\u03b9\u03c4\u03b5\u03af\u03c4\u03b1\u03b9 \u03b1\u03c0\u03cc \u03c4\u03bf\u03bd \u03bd\u03cc\u03bc\u03bf \u03c0\u03b5\u03c1\u03af \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03b9\u03ce\u03bd, \u03b1\u03bb\u03bb\u03ac \u03c7\u03c9\u03c1\u03af\u03c2 \u03b1\u03c5\u03c4\u03ae\u03bd, \u03bc\u03b9\u03b1 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03c0\u03bf\u03c5 \u03ad\u03c7\u03b5\u03b9 \u03bb\u03ac\u03b2\u03b5\u03b9 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7 \u03b4\u03b5\u03bd \u03b8\u03b1 \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03b1\u03c0\u03bf\u03b4\u03b5\u03af\u03be\u03b5\u03b9 \u03cc\u03c4\u03b9 \u03c4\u03b1 \u03c7\u03c1\u03ae\u03bc\u03b1\u03c4\u03b1 \u03c0\u03bf\u03c5 \u03ad\u03bb\u03b1\u03b2\u03b5 \u03b1\u03c0\u03cc \u03c4\u03bf VC \u03b5\u03af\u03bd\u03b1\u03b9 \u03b3\u03b9\u03b1 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03bf\u03cd\u03c2 \u03c3\u03ba\u03bf\u03c0\u03bf\u03cd\u03c2, \u03b3\u03b5\u03b3\u03bf\u03bd\u03cc\u03c2 \u03c0\u03bf\u03c5 \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03bf\u03b4\u03b7\u03b3\u03ae\u03c3\u03b5\u03b9 \u03c3\u03b5 \u03bc\u03b5\u03bb\u03bb\u03bf\u03bd\u03c4\u03b9\u03ba\u03ad\u03c2 \u03b4\u03b9\u03b1\u03c6\u03bf\u03c1\u03ad\u03c2. \u0395\u03ac\u03bd \u03b4\u03b5\u03bd \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03b1\u03c0\u03bf\u03b4\u03b5\u03b9\u03c7\u03b8\u03b5\u03af \u03cc\u03c4\u03b9 \u03c4\u03b1 \u03ba\u03b5\u03c6\u03ac\u03bb\u03b1\u03b9\u03b1 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b3\u03b9\u03b1 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03bf\u03cd\u03c2 \u03c3\u03ba\u03bf\u03c0\u03bf\u03cd\u03c2, \u03c5\u03c0\u03ac\u03c1\u03c7\u03b5\u03b9 \u03b5\u03c0\u03af\u03c3\u03b7\u03c2 \u03bf \u03ba\u03af\u03bd\u03b4\u03c5\u03bd\u03bf\u03c2 \u03bf\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03bd\u03b1 \u03b1\u03c0\u03b1\u03b9\u03c4\u03ae\u03c3\u03bf\u03c5\u03bd \u03c4\u03b7\u03bd \u03b5\u03c0\u03b9\u03c3\u03c4\u03c1\u03bf\u03c6\u03ae \u03c4\u03c9\u03bd \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03c9\u03bd \u03c4\u03bf\u03c5\u03c2 \u03b1\u03c1\u03b3\u03cc\u03c4\u03b5\u03c1\u03b1. \u0393\u03b9&#8217; \u03b1\u03c5\u03c4\u03cc \u03b5\u03af\u03bd\u03b1\u03b9 \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03cc, \u03b9\u03b4\u03b9\u03b1\u03af\u03c4\u03b5\u03c1\u03b1 \u03b3\u03b9\u03b1 \u03c4\u03b7\u03bd \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03c0\u03bf\u03c5 \u03bb\u03b1\u03bc\u03b2\u03ac\u03bd\u03b5\u03b9 \u03c4\u03b7\u03bd \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7, \u03bd\u03b1 \u03c3\u03c5\u03bd\u03ac\u03c8\u03b5\u03b9 \u03c3\u03c9\u03c3\u03c4\u03ac \u03c4\u03b7 \u03c3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2.<\/p>\n\n\n\n<p>\u0393\u03b9\u03b1 \u03c4\u03b7\u03bd \u03b1\u03bd\u03ac\u03b3\u03ba\u03b7 \u03c3\u03cd\u03bd\u03b1\u03c8\u03b7\u03c2 \u03bc\u03b9\u03b1\u03c2 \u03c3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2, \u03ad\u03c7\u03bf\u03c5\u03bc\u03b5 \u03b5\u03be\u03b7\u03b3\u03ae\u03c3\u03b5\u03b9 \u03bb\u03b5\u03c0\u03c4\u03bf\u03bc\u03b5\u03c1\u03ce\u03c2 \u03c3\u03c4\u03bf \u03c0\u03b1\u03c1\u03b1\u03ba\u03ac\u03c4\u03c9 \u03ac\u03c1\u03b8\u03c1\u03bf.<\/p>\n\n\n\n<p>\u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03cc \u03ac\u03c1\u03b8\u03c1\u03bf: <a href=\"https:\/\/monolith.law\/corporate\/importance-and-necessity-of-investment-contract\" target=\"_blank\" rel=\"noreferrer noopener\">\u03a4\u03b9 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b7 \u03a3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2; \u0397 \u03b1\u03bd\u03b1\u03b3\u03ba\u03b1\u03b9\u03cc\u03c4\u03b7\u03c4\u03b1 \u03c4\u03b7\u03c2 \u03c3\u03cd\u03bd\u03b1\u03c8\u03b7\u03c2 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03c9\u03bd \u03b3\u03b9\u03b1 \u03c4\u03b9\u03c2 \u03b5\u03c0\u03b9\u03c7\u03b5\u03b9\u03c1\u03ae\u03c3\u03b5\u03b9\u03c2[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%CE%A4%CF%8D%CF%80%CE%BF%CE%B9_%CE%A3%CF%85%CE%BC%CE%B2%CE%AC%CF%83%CE%B5%CF%89%CE%BD_%CE%95%CF%80%CE%AD%CE%BD%CE%B4%CF%85%CF%83%CE%B7%CF%82\"><\/span>\u03a4\u03cd\u03c0\u03bf\u03b9 \u03a3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03c9\u03bd \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u039f\u03b9 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03c0\u03bf\u03c5 \u03c3\u03c5\u03bd\u03ac\u03c0\u03c4\u03bf\u03bd\u03c4\u03b1\u03b9 \u03ba\u03b1\u03c4\u03ac \u03c4\u03b7 \u03bb\u03ae\u03c8\u03b7 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2 \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03b4\u03b7\u03bc\u03b9\u03bf\u03c5\u03c1\u03b3\u03b7\u03b8\u03bf\u03cd\u03bd \u03c9\u03c2 \u03ad\u03bd\u03b1 \u03bc\u03cc\u03bd\u03bf \u03ad\u03b3\u03b3\u03c1\u03b1\u03c6\u03bf, \u03b1\u03bb\u03bb\u03ac \u03c3\u03c5\u03bd\u03ae\u03b8\u03c9\u03c2 \u03c7\u03c9\u03c1\u03af\u03b6\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c3\u03b5 \u03c0\u03bf\u03bb\u03bb\u03ac \u03ad\u03b3\u03b3\u03c1\u03b1\u03c6\u03b1 \u03b1\u03bd\u03ac\u03bb\u03bf\u03b3\u03b1 \u03bc\u03b5 \u03c4\u03bf \u03c0\u03b5\u03c1\u03b9\u03b5\u03c7\u03cc\u03bc\u03b5\u03bd\u03bf \u03c4\u03b7\u03c2 \u03c3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7\u03c2. \u03a4\u03b1 \u03c0\u03b9\u03bf \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03ac \u03ad\u03b3\u03b3\u03c1\u03b1\u03c6\u03b1 \u03c0\u03bf\u03c5 \u03c0\u03c1\u03ad\u03c0\u03b5\u03b9 \u03bd\u03b1 \u03c3\u03c5\u03bd\u03b1\u03c6\u03b8\u03bf\u03cd\u03bd \u03bc\u03b5 \u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b7 \u03a3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2 \u03ba\u03b1\u03b9 \u03b7 \u03a3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u039c\u03b5\u03c4\u03b1\u03be\u03cd \u039c\u03b5\u03c4\u03cc\u03c7\u03c9\u03bd.<\/p>\n\n\n\n<p>\u0397 \u03a3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b7 \u03c3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u03c0\u03bf\u03c5 \u03c3\u03c5\u03bd\u03ac\u03c0\u03c4\u03b5\u03c4\u03b1\u03b9 \u03bc\u03b5\u03c4\u03b1\u03be\u03cd \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 \u03c0\u03bf\u03c5 \u03bb\u03b1\u03bc\u03b2\u03ac\u03bd\u03b5\u03b9 \u03c4\u03b7\u03bd \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7 \u03ba\u03b1\u03b9 \u03c4\u03c9\u03bd \u03bd\u03ad\u03c9\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ce\u03bd \u03cc\u03c0\u03c9\u03c2 \u03c4\u03b1 VC, \u03ba\u03b1\u03b9 \u03ba\u03b1\u03b8\u03bf\u03c1\u03af\u03b6\u03b5\u03b9 \u03c4\u03b9\u03c2 \u03b4\u03b9\u03b1\u03c4\u03ac\u03be\u03b5\u03b9\u03c2 \u03c3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b1 \u03b1\u03bd\u03c4\u03b9\u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03b1 \u03c4\u03b7\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2 \u03cc\u03c0\u03c9\u03c2 \u03c4\u03b9\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2, \u03ba\u03b1\u03b8\u03ce\u03c2 \u03ba\u03b1\u03b9 \u03c4\u03b9\u03c2 \u03b4\u03b9\u03b1\u03c4\u03ac\u03be\u03b5\u03b9\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7\u03bd \u03bf\u03b9\u03ba\u03bf\u03bd\u03bf\u03bc\u03b9\u03ba\u03ae \u03ba\u03b1\u03b9 \u03b4\u03b9\u03bf\u03b9\u03ba\u03b7\u03c4\u03b9\u03ba\u03ae \u03ba\u03b1\u03c4\u03ac\u03c3\u03c4\u03b1\u03c3\u03b7 \u03c4\u03b7\u03c2 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id=\"%CE%97_%CE%91%CF%8D%CE%BE%CE%B7%CF%83%CE%B7_%CE%9A%CE%B5%CF%86%CE%B1%CE%BB%CE%B1%CE%AF%CE%BF%CF%85_%CE%BC%CE%AD%CF%83%CF%89_%CE%A4%CF%81%CE%AF%CF%84%CF%89%CE%BD_%CF%83%CF%84%CE%B7_%CE%A3%CF%8D%CE%BC%CE%B2%CE%B1%CF%83%CE%B7_%CE%95%CF%80%CE%AD%CE%BD%CE%B4%CF%85%CF%83%CE%B7%CF%82\"><\/span>\u0397 \u0391\u03cd\u03be\u03b7\u03c3\u03b7 \u039a\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5 \u03bc\u03ad\u03c3\u03c9 \u03a4\u03c1\u03af\u03c4\u03c9\u03bd \u03c3\u03c4\u03b7 \u03a3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7 \u0395\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u038c\u03c4\u03b1\u03bd \u03c4\u03bf \u03b1\u03bd\u03c4\u03b9\u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf \u03c4\u03b7\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2 \u03b1\u03c0\u03cc VC \u03ba\u03b1\u03b9 \u03ac\u03bb\u03bb\u03bf\u03c5\u03c2 \u03b5\u03af\u03bd\u03b1\u03b9 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2, \u03b7 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\u03bc\u03b9\u03b1 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03b5\u03ba\u03b4\u03af\u03b4\u03b5\u03b9 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03bc\u03ad\u03c3\u03c9 \u03b1\u03cd\u03be\u03b7\u03c3\u03b7\u03c2 \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5 \u03bc\u03ad\u03c3\u03c9 \u03c4\u03c1\u03af\u03c4\u03c9\u03bd \u03ba\u03b1\u03b9 \u03c0\u03c1\u03bf\u03c3\u03b5\u03bb\u03ba\u03cd\u03b5\u03b9 \u03ba\u03b5\u03c6\u03ac\u03bb\u03b1\u03b9\u03b1 \u03b1\u03c0\u03cc \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03cc\u03c0\u03c9\u03c2 \u03c4\u03b1 VC, \u03c5\u03c0\u03ac\u03c1\u03c7\u03bf\u03c5\u03bd \u03c0\u03bf\u03bb\u03bb\u03ac \u03b8\u03ad\u03bc\u03b1\u03c4\u03b1 \u03c0\u03bf\u03c5 \u03c0\u03c1\u03ad\u03c0\u03b5\u03b9 \u03bd\u03b1 \u03ba\u03b1\u03b8\u03bf\u03c1\u03b9\u03c3\u03c4\u03bf\u03cd\u03bd \u03c3\u03c4\u03bf \u03c3\u03c4\u03ac\u03b4\u03b9\u03bf \u03c4\u03c9\u03bd \u03c3\u03c5\u03bc\u03b2\u03b1\u03c4\u03b9\u03ba\u03ce\u03bd 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\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%CE%97_%CE%A3%CE%B7%CE%BC%CE%B1%CF%83%CE%AF%CE%B1_%CF%84%CE%BF%CF%85_%CE%A6%CF%8D%CE%BB%CE%BB%CE%BF%CF%85_%CE%8C%CF%81%CF%89%CE%BD\"><\/span>\u0397 \u03a3\u03b7\u03bc\u03b1\u03c3\u03af\u03b1 \u03c4\u03bf\u03c5 \u03a6\u03cd\u03bb\u03bb\u03bf\u03c5 \u038c\u03c1\u03c9\u03bd<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u038c\u03c4\u03b1\u03bd \u03c0\u03c1\u03cc\u03ba\u03b5\u03b9\u03c4\u03b1\u03b9 \u03bd\u03b1 \u03b5\u03ba\u03b4\u03ce\u03c3\u03b5\u03c4\u03b5 \u03bd\u03ad\u03b5\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03bc\u03ad\u03c3\u03c9 \u03b1\u03cd\u03be\u03b7\u03c3\u03b7\u03c2 \u03c4\u03bf\u03c5 \u03bc\u03b5\u03c4\u03bf\u03c7\u03b9\u03ba\u03bf\u03cd \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5 \u03b1\u03c0\u03cc \u03c4\u03c1\u03af\u03c4\u03bf\u03c5\u03c2 \u03ba\u03b1\u03b9 \u03bd\u03b1 \u03b1\u03bd\u03c4\u03bb\u03ae\u03c3\u03b5\u03c4\u03b5 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class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%CE%A3%CF%84%CE%BF%CE%B9%CF%87%CE%B5%CE%AF%CE%B1_%CE%A6%CF%8D%CE%BB%CE%BB%CE%BF%CF%85_%CE%8C%CF%81%CF%89%CE%BD\"><\/span>\u03a3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1 \u03a6\u03cd\u03bb\u03bb\u03bf\u03c5 \u038c\u03c1\u03c9\u03bd<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u03a4\u03b1 \u03c3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1 \u03c4\u03bf\u03c5 \u03c6\u03cd\u03bb\u03bb\u03bf\u03c5 \u03cc\u03c1\u03c9\u03bd \u03c3\u03b5 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2 \u03ba\u03b1\u03b9 \u03bc\u03b5\u03c4\u03b1\u03be\u03cd \u03bc\u03b5\u03c4\u03cc\u03c7\u03c9\u03bd \u03b4\u03b9\u03b1\u03c6\u03ad\u03c1\u03bf\u03c5\u03bd \u03b1\u03bd\u03ac\u03bb\u03bf\u03b3\u03b1 \u03bc\u03b5 \u03c4\u03b7\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ae \u03c5\u03c0\u03cc\u03b8\u03b5\u03c3\u03b7 \u03ba\u03b1\u03b9 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\u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03bf\u03c5\u03c2 \u03ba\u03b1\u03c4\u03cc\u03c7\u03bf\u03c5\u03c2 \u03b1\u03c5\u03c4\u03ce\u03bd \u03c4\u03c9\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd.<\/p>\n\n\n\n<ul>\n<li>\u03a3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1 \u03c3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b1 \u03c3\u03c5\u03bc\u03b2\u03b1\u03bb\u03bb\u03cc\u03bc\u03b5\u03bd\u03b1 \u03bc\u03ad\u03c1\u03b7<\/li>\n\n\n\n<li>\u0393\u03b5\u03bd\u03b9\u03ba\u03ad\u03c2 \u03c0\u03bb\u03b7\u03c1\u03bf\u03c6\u03bf\u03c1\u03af\u03b5\u03c2 \u03b3\u03b9\u03b1 \u03c4\u03b7 \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03bf\u03b4\u03cc\u03c4\u03b7\u03c3\u03b7 (\u03c4\u03cd\u03c0\u03bf\u03c2 \u03c4\u03c9\u03bd \u03b5\u03ba\u03b4\u03b9\u03b4\u03cc\u03bc\u03b5\u03bd\u03c9\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd, \u03c3\u03c5\u03bd\u03bf\u03bb\u03b9\u03ba\u03cc\u03c2 \u03b1\u03c1\u03b9\u03b8\u03bc\u03cc\u03c2 \u03b4\u03c5\u03bd\u03b1\u03c4\u03ce\u03bd 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\u03c0\u03c1\u03bf\u03b8\u03b5\u03c3\u03bc\u03af\u03b1 \u03ba\u03b1\u03c4\u03b1\u03b2\u03bf\u03bb\u03ae\u03c2, \u03c7\u03c1\u03ae\u03c3\u03b7 \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03c9\u03bd \u03ba.\u03bb\u03c0.)<\/li>\n\n\n\n<li>\u03a3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1 \u03c3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b9\u03c2 \u03c0\u03c1\u03bf\u03bd\u03bf\u03bc\u03b9\u03bf\u03cd\u03c7\u03b5\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 (\u03c0\u03c1\u03bf\u03bd\u03bf\u03bc\u03b9\u03b1\u03ba\u03ae \u03b4\u03b9\u03b1\u03bd\u03bf\u03bc\u03ae \u03ba\u03b5\u03c1\u03b4\u03ce\u03bd, \u03c0\u03c1\u03bf\u03c4\u03b5\u03c1\u03b1\u03b9\u03cc\u03c4\u03b7\u03c4\u03b1 \u03c3\u03c4\u03b7 \u03b4\u03b9\u03b1\u03bd\u03bf\u03bc\u03ae \u03c4\u03bf\u03c5 \u03c5\u03c0\u03bf\u03bb\u03bf\u03af\u03c0\u03bf\u03c5 \u03c0\u03b5\u03c1\u03b9\u03bf\u03c5\u03c3\u03b9\u03b1\u03ba\u03bf\u03cd \u03c3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03bf\u03c5, \u03b4\u03b9\u03ba\u03b1\u03af\u03c9\u03bc\u03b1 \u03b1\u03af\u03c4\u03b7\u03c3\u03b7\u03c2 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2, \u03cc\u03c1\u03bf\u03b9 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2, \u03b4\u03b9\u03ba\u03b1\u03b9\u03ce\u03bc\u03b1\u03c4\u03b1 \u03c8\u03ae\u03c6\u03bf\u03c5, \u03b4\u03b9\u03b1\u03af\u03c1\u03b5\u03c3\u03b7 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03ba.\u03bb\u03c0.)<\/li>\n\n\n\n<li>\u03a3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1 \u03c3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b9\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 (\u03b4\u03b7\u03bb\u03ce\u03c3\u03b5\u03b9\u03c2 \u03ba\u03b1\u03b9 \u03b5\u03b3\u03b3\u03c5\u03ae\u03c3\u03b5\u03b9\u03c2, \u03c0\u03c1\u03bf\u03bd\u03bf\u03bc\u03b9\u03b1\u03ba\u03cc \u03b4\u03b9\u03ba\u03b1\u03af\u03c9\u03bc\u03b1 \u03c5\u03c0\u03bf\u03b4\u03bf\u03c7\u03ae\u03c2 \u03c4\u03c9\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ce\u03bd, \u03b4\u03b9\u03b1\u03c7\u03b5\u03af\u03c1\u03b9\u03c3\u03b7 \u03c0\u03b5\u03c1\u03b9\u03c0\u03c4\u03ce\u03c3\u03b5\u03c9\u03bd \u03c0\u03b1\u03c1\u03b1\u03b2\u03af\u03b1\u03c3\u03b7\u03c2 \u03c4\u03b7\u03c2 \u03c3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7\u03c2, \u03bb\u03ae\u03be\u03b7 \u03c4\u03b7\u03c2 \u03c3\u03cd\u03bc\u03b2\u03b1\u03c3\u03b7\u03c2 \u03ba.\u03bb\u03c0.)<\/li>\n\n\n\n<li>\u03a3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1 \u03c3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b7 \u03b4\u03b9\u03b1\u03c7\u03b5\u03af\u03c1\u03b9\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 (\u03c7\u03c1\u03ae\u03c3\u03b7 \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03c9\u03bd, \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b7\u03bd \u03c0\u03c1\u03bf\u03c3\u03c0\u03ac\u03b8\u03b5\u03b9\u03b1 \u03b3\u03b9\u03b1 \u03b5\u03b9\u03c3\u03b1\u03b3\u03c9\u03b3\u03ae \u03c3\u03c4\u03bf 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class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%CE%98%CE%AD%CE%BC%CE%B1%CF%84%CE%B1_%CE%A3%CF%87%CE%B5%CF%84%CE%B9%CE%BA%CE%AC_%CE%BC%CE%B5_%CF%84%CE%B9%CF%82_%CE%9A%CE%B1%CF%84%CE%B7%CE%B3%CE%BF%CF%81%CE%AF%CE%B5%CF%82_%CE%9C%CE%B5%CF%84%CE%BF%CF%87%CF%8E%CE%BD\"><\/span>\u0398\u03ad\u03bc\u03b1\u03c4\u03b1 \u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03ac \u03bc\u03b5 \u03c4\u03b9\u03c2 \u039a\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b5\u03c2 \u039c\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u039a\u03b1\u03c4\u03ac \u03c4\u03b7\u03bd \u03b1\u03c0\u03bf\u03b4\u03bf\u03c7\u03ae \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd \u03b1\u03c0\u03cc VC (Venture Capital) \u03ba\u03b1\u03b9 \u03ac\u03bb\u03bb\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2, \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03b5\u03ba\u03b4\u03bf\u03b8\u03bf\u03cd\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03b5\u03b9\u03b4\u03b9\u03ba\u03ae\u03c2 \u03ba\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b1\u03c2, \u03bf\u03b9 \u03cc\u03c1\u03bf\u03b9 \u03c4\u03c9\u03bd \u03bf\u03c0\u03bf\u03af\u03c9\u03bd \u03b8\u03b1 \u03ba\u03b1\u03c4\u03b1\u03b3\u03c1\u03b1\u03c6\u03bf\u03cd\u03bd \u03c3\u03c4\u03bf term sheet. \u039f\u03b9 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03b5\u03b9\u03b4\u03b9\u03ba\u03ae\u03c2 \u03ba\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b1\u03c2 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b5\u03ba\u03b5\u03af\u03bd\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b4\u03b9\u03b1\u03c6\u03ad\u03c1\u03bf\u03c5\u03bd \u03c3\u03b5 \u03bf\u03c1\u03b9\u03c3\u03bc\u03ad\u03bd\u03b1 \u03b4\u03b9\u03ba\u03b1\u03b9\u03ce\u03bc\u03b1\u03c4\u03b1 \u03ba\u03b1\u03b9 \u03c3\u03c5\u03c7\u03bd\u03ac \u03c7\u03c1\u03b7\u03c3\u03b9\u03bc\u03bf\u03c0\u03bf\u03b9\u03bf\u03cd\u03bd\u03c4\u03b1\u03b9 \u03ba\u03b1\u03c4\u03ac \u03c4\u03b7\u03bd \u03b1\u03c0\u03bf\u03b4\u03bf\u03c7\u03ae \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd \u03b1\u03c0\u03cc VC \u03ba\u03b1\u03b9 \u03ac\u03bb\u03bb\u03bf\u03c5\u03c2.<\/p>\n\n\n\n<p>\u0393\u03b9\u03b1 \u03c0\u03b1\u03c1\u03ac\u03b4\u03b5\u03b9\u03b3\u03bc\u03b1, \u03c5\u03c0\u03ac\u03c1\u03c7\u03bf\u03c5\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03b5\u03b9\u03b4\u03b9\u03ba\u03ae\u03c2 \u03ba\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b1\u03c2 \u03c0\u03bf\u03c5 \u03bf\u03c1\u03af\u03b6\u03bf\u03c5\u03bd \u03b4\u03b9\u03b1\u03c6\u03bf\u03c1\u03b5\u03c4\u03b9\u03ba\u03bf\u03cd\u03c2 \u03cc\u03c1\u03bf\u03c5\u03c2 \u03b3\u03b9\u03b1 \u03c4\u03b7 \u03b4\u03b9\u03b1\u03bd\u03bf\u03bc\u03ae \u03c4\u03c9\u03bd \u03ba\u03b5\u03c1\u03b4\u03ce\u03bd \u03ae \u03c4\u03b7\u03bd \u03ba\u03b1\u03c4\u03b1\u03bd\u03bf\u03bc\u03ae \u03c4\u03b7\u03c2 \u03c0\u03b5\u03c1\u03b9\u03bf\u03c5\u03c3\u03af\u03b1\u03c2 \u03c3\u03b5 \u03c0\u03b5\u03c1\u03af\u03c0\u03c4\u03c9\u03c3\u03b7 \u03b4\u03b9\u03ac\u03bb\u03c5\u03c3\u03b7\u03c2, \u03ba\u03b1\u03b8\u03ce\u03c2 \u03ba\u03b1\u03b9 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03c0\u03bf\u03c5 \u03c0\u03b1\u03c1\u03ad\u03c7\u03bf\u03c5\u03bd \u03b4\u03b9\u03ba\u03b1\u03af\u03c9\u03bc\u03b1 \u03b1\u03c1\u03bd\u03b7\u03c3\u03b9\u03ba\u03c5\u03c1\u03af\u03b1\u03c2 \u03c3\u03b5 \u03bf\u03c1\u03b9\u03c3\u03bc\u03ad\u03bd\u03b1 \u03b8\u03ad\u03bc\u03b1\u03c4\u03b1 \u03c0\u03bf\u03c5 \u03b1\u03c0\u03b1\u03b9\u03c4\u03bf\u03cd\u03bd \u03b1\u03c0\u03cc\u03c6\u03b1\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b3\u03b5\u03bd\u03b9\u03ba\u03ae\u03c2 \u03c3\u03c5\u03bd\u03ad\u03bb\u03b5\u03c5\u03c3\u03b7\u03c2 \u03c4\u03c9\u03bd \u03bc\u03b5\u03c4\u03cc\u03c7\u03c9\u03bd. \u039f\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2, \u03cc\u03c0\u03c9\u03c2 \u03c4\u03b1 VC, \u03c0\u03c1\u03bf\u03b2\u03bb\u03ad\u03c0\u03bf\u03c5\u03bd \u03bd\u03b1 \u03c3\u03c5\u03bc\u03bc\u03b5\u03c4\u03ad\u03c7\u03bf\u03c5\u03bd \u03c3\u03b5 \u03ba\u03ac\u03c0\u03bf\u03b9\u03bf \u03b2\u03b1\u03b8\u03bc\u03cc \u03c3\u03c4\u03b7 \u03b4\u03b9\u03bf\u03af\u03ba\u03b7\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7, \u03b3\u03b9&#8217; \u03b1\u03c5\u03c4\u03cc \u03ba\u03b1\u03b9 \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03b5\u03ba\u03b4\u03ce\u03c3\u03bf\u03c5\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03b5\u03b9\u03b4\u03b9\u03ba\u03ae\u03c2 \u03ba\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b1\u03c2 \u03bc\u03b5 \u03c4\u03ad\u03c4\u03bf\u03b9\u03bf\u03c5\u03c2 \u03cc\u03c1\u03bf\u03c5\u03c2.<\/p>\n\n\n\n<p>\u038c\u03c4\u03b1\u03bd \u03b5\u03ba\u03b4\u03af\u03b4\u03bf\u03bd\u03c4\u03b1\u03b9 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03b5\u03b9\u03b4\u03b9\u03ba\u03ae\u03c2 \u03ba\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b1\u03c2, \u03bf\u03b9 \u03bb\u03b5\u03c0\u03c4\u03bf\u03bc\u03ad\u03c1\u03b5\u03b9\u03b5\u03c2 \u03c4\u03bf\u03c5\u03c2 \u03ba\u03b1\u03c4\u03b1\u03b3\u03c1\u03ac\u03c6\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c3\u03c4\u03bf term sheet. \u0393\u03b9\u03b1 \u03c0\u03b1\u03c1\u03ac\u03b4\u03b5\u03b9\u03b3\u03bc\u03b1, \u03bf \u03cc\u03c1\u03bf\u03c2 \u03c0\u03c1\u03bf\u03c4\u03b5\u03c1\u03b1\u03b9\u03cc\u03c4\u03b7\u03c4\u03b1\u03c2 \u03c3\u03c4\u03b7\u03bd \u03ba\u03b1\u03c4\u03b1\u03bd\u03bf\u03bc\u03ae \u03c4\u03b7\u03c2 \u03c0\u03b5\u03c1\u03b9\u03bf\u03c5\u03c3\u03af\u03b1\u03c2 \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03c0\u03b5\u03c1\u03b9\u03b3\u03c1\u03b1\u03c6\u03b5\u03af \u03c9\u03c2 \u03b5\u03be\u03ae\u03c2:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>\u03a0\u03c1\u03bf\u03c4\u03b5\u03c1\u03b1\u03b9\u03cc\u03c4\u03b7\u03c4\u03b1 \u03b1\u03bd\u03ac \u03bc\u03b5\u03c4\u03bf\u03c7\u03ae \u03a7 \u03b5\u03c5\u03c1\u03ce (\u03a7% \u03b5\u03c0\u03af \u03c4\u03bf\u03c5 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href=\"https:\/\/www.meti.go.jp\/press\/2018\/04\/20180402006\/20180402006-1.pdf\">https:\/\/www.meti.go.jp\/press\/2018\/04\/20180402006\/20180402006-1.pdf<\/a><\/cite><\/blockquote>\n\n\n\n<p>\u0393\u03b9\u03b1 \u03c4\u03b9\u03c2 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b9\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03b5\u03b9\u03b4\u03b9\u03ba\u03ae\u03c2 \u03ba\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b1\u03c2 \u03c3\u03c4\u03b9\u03c2 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2, \u03bc\u03c0\u03bf\u03c1\u03b5\u03af\u03c4\u03b5 \u03bd\u03b1 \u03b4\u03b9\u03b1\u03b2\u03ac\u03c3\u03b5\u03c4\u03b5 \u03c0\u03b5\u03c1\u03b9\u03c3\u03c3\u03cc\u03c4\u03b5\u03c1\u03b1 \u03c3\u03c4\u03bf \u03b1\u03ba\u03cc\u03bb\u03bf\u03c5\u03b8\u03bf \u03ac\u03c1\u03b8\u03c1\u03bf.<\/p>\n\n\n\n<p>\u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03cc \u0386\u03c1\u03b8\u03c1\u03bf: <a href=\"https:\/\/monolith.law\/corporate\/issuance-of-class-shares\" target=\"_blank\" rel=\"noreferrer noopener\">\u0397 \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03b5\u03b9\u03b4\u03b9\u03ba\u03ae\u03c2 \u03ba\u03b1\u03c4\u03b7\u03b3\u03bf\u03c1\u03af\u03b1\u03c2 \u03ba\u03b1\u03b9 \u03bf\u03b9 \u03bb\u03b5\u03c0\u03c4\u03bf\u03bc\u03ad\u03c1\u03b5\u03b9\u03b5\u03c2 \u03c4\u03bf\u03c5\u03c2 \u03c3\u03c4\u03b9\u03c2 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2 \u03c4\u03c9\u03bd \u03b5\u03c0\u03b9\u03c7\u03b5\u03b9\u03c1\u03ae\u03c3\u03b5\u03c9\u03bd[ja]<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%CE%98%CE%AD%CE%BC%CE%B1%CF%84%CE%B1_%CE%A3%CF%87%CE%B5%CF%84%CE%B9%CE%BA%CE%AC_%CE%BC%CE%B5_%CF%84%CE%B9%CF%82_%CE%9C%CE%B5%CF%84%CE%BF%CF%87%CE%AD%CF%82\"><\/span>\u0398\u03ad\u03bc\u03b1\u03c4\u03b1 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\u03c0\u03bf\u03c3\u03bf\u03c3\u03c4\u03bf\u03cd \u03c4\u03c9\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03c0\u03bf\u03c5 \u03ae\u03b4\u03b7 \u03ba\u03b1\u03c4\u03ad\u03c7\u03bf\u03c5\u03bd. \u039f\u03b9 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03c1\u03bf\u03bd\u03bf\u03bc\u03b9\u03b1\u03ba\u03ae\u03c2 \u03b5\u03c0\u03b9\u03bb\u03bf\u03b3\u03ae\u03c2 \u03b1\u03bd\u03b1\u03c6\u03ad\u03c1\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c3\u03c5\u03bd\u03ae\u03b8\u03c9\u03c2 \u03c3\u03c4\u03bf term sheet \u03c9\u03c2 \u03b5\u03be\u03ae\u03c2.<\/p>\n\n\n<p>\u038c\u03c4\u03b1\u03bd \u03bc\u03b9\u03b1 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03b5\u03ba\u03b4\u03af\u03b4\u03b5\u03b9 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03ae \u03ac\u03bb\u03bb\u03b1 \u03c3\u03c5\u03bc\u03bc\u03b5\u03c4\u03bf\u03c7\u03b9\u03ba\u03ac \u03c4\u03af\u03c4\u03bb\u03b1, \u03bf\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03ad\u03c7\u03bf\u03c5\u03bd \u03c4\u03bf \u03b4\u03b9\u03ba\u03b1\u03af\u03c9\u03bc\u03b1 \u03bd\u03b1 \u03c4\u03b1 \u03b1\u03bd\u03b1\u03bb\u03ac\u03b2\u03bf\u03c5\u03bd \u03c0\u03c1\u03bf\u03c4\u03b5\u03c1\u03b1\u03b9\u03cc\u03c4\u03b7\u03c4\u03b1 \u03b1\u03bd\u03ac\u03bb\u03bf\u03b3\u03b1 \u03bc\u03b5 \u03c4\u03bf \u03c0\u03bf\u03c3\u03bf\u03c3\u03c4\u03cc \u03c4\u03c9\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03c0\u03bf\u03c5 \u03ba\u03b1\u03c4\u03ad\u03c7\u03bf\u03c5\u03bd. \u03a9\u03c3\u03c4\u03cc\u03c3\u03bf, \u03b1\u03c5\u03c4\u03cc \u03b4\u03b5\u03bd \u03b9\u03c3\u03c7\u03cd\u03b5\u03b9 \u03b3\u03b9\u03b1 \u03c4\u03b7\u03bd \u03ad\u03ba\u03b4\u03bf\u03c3\u03b7 stock options \u03c0\u03bf\u03c5 \u03b1\u03bd\u03c4\u03b9\u03c3\u03c4\u03bf\u03b9\u03c7\u03bf\u03cd\u03bd \u03c3\u03b5 \u03ad\u03bd\u03b1 \u03c0\u03bf\u03c3\u03bf\u03c3\u03c4\u03cc \u039f% \u03c4\u03bf\u03c5 \u03c3\u03c5\u03bd\u03cc\u03bb\u03bf\u03c5 \u03c4\u03c9\u03bd \u03ae\u03b4\u03b7 \u03b5\u03ba\u03b4\u03bf\u03b8\u03ad\u03bd\u03c4\u03c9\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd.<\/p>\n<p>\u0395\u03c0\u03b9\u03c0\u03bb\u03ad\u03bf\u03bd, \u03b7 \u03c1\u03ae\u03c4\u03c1\u03b1 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03b5\u03af\u03bd\u03b1\u03b9 \u03bc\u03b9\u03b1 \u03b4\u03b9\u03ac\u03c4\u03b1\u03be\u03b7 \u03c0\u03bf\u03c5 \u03c0\u03c1\u03bf\u03b2\u03bb\u03ad\u03c0\u03b5\u03b9 \u03c4\u03bf \u03b4\u03b9\u03ba\u03b1\u03af\u03c9\u03bc\u03b1 \u03c4\u03c9\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ce\u03bd, \u03cc\u03c0\u03c9\u03c2 \u03c4\u03c9\u03bd \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03b9\u03ce\u03bd \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03c9\u03bd \u03ba\u03b9\u03bd\u03b4\u03cd\u03bd\u03bf\u03c5 (VC), \u03bd\u03b1 \u03b1\u03c0\u03b1\u03b9\u03c4\u03ae\u03c3\u03bf\u03c5\u03bd \u03b1\u03c0\u03cc \u03c4\u03b7\u03bd \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03ae \u03c4\u03b1 \u03c3\u03c4\u03b5\u03bb\u03ad\u03c7\u03b7 \u03c4\u03b7\u03c2 \u03c4\u03b7\u03bd \u03b1\u03b3\u03bf\u03c1\u03ac \u03c4\u03c9\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03c0\u03bf\u03c5 \u03ba\u03b1\u03c4\u03ad\u03c7\u03bf\u03c5\u03bd, \u03b5\u03c6\u03cc\u03c3\u03bf\u03bd \u03c0\u03c1\u03bf\u03ba\u03cd\u03c8\u03bf\u03c5\u03bd \u03bf\u03c1\u03b9\u03c3\u03bc\u03ad\u03bd\u03b5\u03c2 \u03c3\u03c5\u03bd\u03b8\u03ae\u03ba\u03b5\u03c2. \u03a3\u03c4\u03bf term sheet, \u03b7 \u03c1\u03ae\u03c4\u03c1\u03b1 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03c0\u03b5\u03c1\u03b9\u03b3\u03c1\u03ac\u03c6\u03b5\u03c4\u03b1\u03b9 \u03c9\u03c2 \u03b5\u03be\u03ae\u03c2: \u039a\u03c1\u03af\u03c3\u03b9\u03bc\u03b1 \u03c3\u03b7\u03bc\u03b5\u03af\u03b1 \u03b5\u03af\u03bd\u03b1\u03b9 \u03bf\u03b9 \u03cc\u03c1\u03bf\u03b9 \u03c0\u03bf\u03c5 \u03c0\u03c1\u03bf\u03ba\u03b1\u03bb\u03bf\u03cd\u03bd \u03c4\u03b7\u03bd \u03b5\u03bd\u03b5\u03c1\u03b3\u03bf\u03c0\u03bf\u03af\u03b7\u03c3\u03b7 \u03c4\u03bf\u03c5 \u03b4\u03b9\u03ba\u03b1\u03b9\u03ce\u03bc\u03b1\u03c4\u03bf\u03c2 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2 \u03ba\u03b1\u03b9 \u03b7 \u03bc\u03b5\u03b8\u03bf\u03b4\u03bf\u03bb\u03bf\u03b3\u03af\u03b1 \u03c5\u03c0\u03bf\u03bb\u03bf\u03b3\u03b9\u03c3\u03bc\u03bf\u03cd \u03c4\u03b7\u03c2 \u03c4\u03b9\u03bc\u03ae\u03c2 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2.<br \/>1. \u039f\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03bc\u03c0\u03bf\u03c1\u03bf\u03cd\u03bd \u03bd\u03b1 \u03b6\u03b7\u03c4\u03ae\u03c3\u03bf\u03c5\u03bd \u03b1\u03c0\u03cc \u03c4\u03b7\u03bd \u03b5\u03ba\u03b4\u03cc\u03c4\u03c1\u03b9\u03b1 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03ba\u03b1\u03b9 \u03c4\u03bf\u03c5\u03c2 \u03b9\u03b4\u03c1\u03c5\u03c4\u03b9\u03ba\u03bf\u03cd\u03c2 \u03bc\u03b5\u03c4\u03cc\u03c7\u03bf\u03c5\u03c2 \u03bd\u03b1 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c3\u03bf\u03c5\u03bd \u03c4\u03b9\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03c0\u03bf\u03c5 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\u03b1\u03bb\u03b7\u03b8\u03b5\u03af\u03c2 \u03ae \u03b1\u03ba\u03c1\u03b9\u03b2\u03b5\u03af\u03c2 \u03ba\u03b1\u03b9 \u03c4\u03bf \u03c0\u03b5\u03c1\u03b9\u03b5\u03c7\u03cc\u03bc\u03b5\u03bd\u03bf \u03b5\u03af\u03bd\u03b1\u03b9 \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03cc<br \/>2. \u0397 \u03c4\u03b9\u03bc\u03ae \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2 \u03c4\u03c9\u03bd \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03c4\u03bf\u03c5 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ae \u03bc\u03b5 \u03b2\u03ac\u03c3\u03b7 \u03c4\u03bf \u03b1\u03af\u03c4\u03b7\u03bc\u03b1 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2 \u03c4\u03bf\u03c5 \u03c0\u03b1\u03c1\u03b1\u03c0\u03ac\u03bd\u03c9 1. \u03b8\u03b1 \u03ba\u03b1\u03b8\u03bf\u03c1\u03af\u03b6\u03b5\u03c4\u03b1\u03b9 \u03b1\u03c0\u03cc \u03c4\u03bf \u03c0\u03bf\u03c3\u03cc \u03c0\u03bf\u03c5 \u03c3\u03c5\u03bc\u03c6\u03c9\u03bd\u03bf\u03cd\u03bd \u03bf \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ae\u03c2, \u03b7 \u03b5\u03ba\u03b4\u03cc\u03c4\u03c1\u03b9\u03b1 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03ba\u03b1\u03b9 \u03bf\u03b9 \u03b9\u03b4\u03c1\u03c5\u03c4\u03b9\u03ba\u03bf\u03af \u03bc\u03ad\u03c4\u03bf\u03c7\u03bf\u03b9 \u03bc\u03b5 \u03b2\u03ac\u03c3\u03b7 \u03c4\u03b7\u03bd \u03c3\u03c5\u03bc\u03c6\u03c9\u03bd\u03b7\u03b8\u03b5\u03af\u03c3\u03b1 \u03bc\u03ad\u03b8\u03bf\u03b4\u03bf \u03c5\u03c0\u03bf\u03bb\u03bf\u03b3\u03b9\u03c3\u03bc\u03bf\u03cd.<\/p>\n<p><cite><a href=\"https:\/\/www.meti.go.jp\/press\/2018\/04\/20180402006\/20180402006-1.pdf\">https:\/\/www.meti.go.jp\/press\/2018\/04\/20180402006\/20180402006-1.pdf<\/a><\/cite><\/p>\n<p>\u0393\u03b9\u03b1 \u03c4\u03b9\u03c2 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03c3\u03b5 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd, \u03ad\u03c7\u03bf\u03c5\u03bc\u03b5 \u03c0\u03b1\u03c1\u03ac\u03c3\u03c7\u03b5\u03b9 \u03bb\u03b5\u03c0\u03c4\u03bf\u03bc\u03b5\u03c1\u03ae \u03b5\u03be\u03ae\u03b3\u03b7\u03c3\u03b7 \u03c3\u03c4\u03bf \u03c0\u03b1\u03c1\u03b1\u03ba\u03ac\u03c4\u03c9 \u03ac\u03c1\u03b8\u03c1\u03bf.<\/p>\n<p>\u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03cc \u03ac\u03c1\u03b8\u03c1\u03bf: <a title=\"\" href=\"https:\/\/monolith.law\/corporate\/investment-stock-purchase-clause\" target=\"_blank\" rel=\"noopener\">\u03a4\u03b9 \u03b5\u03af\u03bd\u03b1\u03b9 \u03bf\u03b9 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03b1\u03b3\u03bf\u03c1\u03ac\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ce\u03bd \u03c3\u03b5 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd[ja]<\/a><\/p>\n<p>\u0395\u03c0\u03b9\u03c0\u03bb\u03ad\u03bf\u03bd, \u03c4\u03bf \u03b4\u03b9\u03ba\u03b1\u03af\u03c9\u03bc\u03b1 &#8220;Drag-Along&#8221; \u03b1\u03bd\u03b1\u03c6\u03ad\u03c1\u03b5\u03c4\u03b1\u03b9 \u03c3\u03c4\u03b7 \u03c1\u03ae\u03c4\u03c1\u03b1 \u03c0\u03bf\u03c5 \u03b5\u03c0\u03b9\u03c4\u03c1\u03ad\u03c0\u03b5\u03b9 \u03c3\u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2, \u03cc\u03c0\u03c9\u03c2 \u03c4\u03b1 VC, \u03bd\u03b1 \u03b5\u03c0\u03b9\u03b2\u03ac\u03bb\u03bb\u03bf\u03c5\u03bd \u03bc\u03b9\u03b1 \u03b5\u03be\u03b1\u03b3\u03bf\u03c1\u03ac \u03ae EXIT. \u0391\u03c0\u03cc \u03c4\u03b7\u03bd \u03ac\u03c0\u03bf\u03c8\u03b7 \u03c4\u03c9\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ce\u03bd, \u03cc\u03c0\u03c9\u03c2 \u03c4\u03b1 VC, \u03c4\u03bf \u03b4\u03b9\u03ba\u03b1\u03af\u03c9\u03bc\u03b1 &#8220;Drag-Along&#8221; \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03b8\u03b5\u03c9\u03c1\u03b7\u03b8\u03b5\u03af \u03b1\u03c0\u03bf\u03c4\u03b5\u03bb\u03b5\u03c3\u03bc\u03b1\u03c4\u03b9\u03ba\u03cc \u03b3\u03b9\u03b1 \u03c4\u03b7\u03bd \u03b5\u03c0\u03b9\u03c3\u03c4\u03c1\u03bf\u03c6\u03ae \u03c4\u03b7\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7\u03c2, \u03ba\u03b1\u03b9 \u03bc\u03b5\u03c1\u03b9\u03ba\u03bf\u03af \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03b1\u03c0\u03b1\u03b9\u03c4\u03bf\u03cd\u03bd \u03c4\u03ad\u03c4\u03bf\u03b9\u03bf\u03c5\u03c2 \u03cc\u03c1\u03bf\u03c5\u03c2. \u0393\u03b9\u03b1 \u03c4\u03b9\u03c2 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 &#8220;Drag-Along&#8221; \u03c3\u03b5 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd, \u03ad\u03c7\u03bf\u03c5\u03bc\u03b5 \u03c0\u03b1\u03c1\u03ac\u03c3\u03c7\u03b5\u03b9 \u03bb\u03b5\u03c0\u03c4\u03bf\u03bc\u03b5\u03c1\u03ae \u03b5\u03be\u03ae\u03b3\u03b7\u03c3\u03b7 \u03c3\u03c4\u03bf \u03c0\u03b1\u03c1\u03b1\u03ba\u03ac\u03c4\u03c9 \u03ac\u03c1\u03b8\u03c1\u03bf.<\/p>\n<p>\u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03cc \u03ac\u03c1\u03b8\u03c1\u03bf: <a title=\"\u03a1\u03ae\u03c4\u03c1\u03b5\u03c2 Drag-Along \u03c3\u03b5 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd \u03c3\u03b5 startups\" href=\"https:\/\/monolith.law\/corporate\/investment-law-drag-along-right\" target=\"_blank\" rel=\"noopener\">\u03a1\u03ae\u03c4\u03c1\u03b5\u03c2 Drag-Along \u03c3\u03b5 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd \u03c3\u03b5 startups[ja]<\/a><\/p>\n<p>\u039f\u03b9 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 &#8220;\u0394\u03ae\u03b8\u03b5\u03bd \u0395\u03ba\u03ba\u03b1\u03b8\u03ac\u03c1\u03b9\u03c3\u03b7\u03c2&#8221; \u03b1\u03bd\u03b1\u03c6\u03ad\u03c1\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c3\u03c4\u03b7 \u03c1\u03ae\u03c4\u03c1\u03b1 \u03c0\u03bf\u03c5 \u03c0\u03c1\u03bf\u03b2\u03bb\u03ad\u03c0\u03b5\u03b9 \u03cc\u03c4\u03b9, \u03c3\u03b5 \u03c0\u03b5\u03c1\u03af\u03c0\u03c4\u03c9\u03c3\u03b7 \u03c0\u03bf\u03c5 \u03b7 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03c0\u03bf\u03c5 \u03ad\u03c7\u03b5\u03b9 \u03bb\u03ac\u03b2\u03b5\u03b9 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7 \u03b1\u03c0\u03cc VC \u03ba\u03bb\u03c0. \u03b1\u03b3\u03bf\u03c1\u03b1\u03c3\u03c4\u03b5\u03af, \u03b8\u03b1 \u03b8\u03b5\u03c9\u03c1\u03b7\u03b8\u03b5\u03af \u03cc\u03c4\u03b9 \u03ad\u03c7\u03b5\u03b9 \u03b5\u03ba\u03ba\u03b1\u03b8\u03b1\u03c1\u03b9\u03c3\u03c4\u03b5\u03af \u03c0\u03c1\u03bf\u03ba\u03b5\u03b9\u03bc\u03ad\u03bd\u03bf\u03c5 \u03bd\u03b1 \u03b4\u03b9\u03b1\u03bd\u03b5\u03bc\u03b7\u03b8\u03bf\u03cd\u03bd \u03c0\u03b5\u03c1\u03b9\u03bf\u03c5\u03c3\u03b9\u03b1\u03ba\u03ac \u03c3\u03c4\u03bf\u03b9\u03c7\u03b5\u03af\u03b1 \u03c3\u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2. \u0395\u03b9\u03b4\u03b9\u03ba\u03ac \u03cc\u03c4\u03b1\u03bd \u03ad\u03c7\u03b5\u03b9 \u03b3\u03af\u03bd\u03b5\u03b9 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7 \u03b1\u03c0\u03cc \u03c4\u03b7\u03bd \u03b1\u03c1\u03c7\u03ae \u03c4\u03b7\u03c2 \u03af\u03b4\u03c1\u03c5\u03c3\u03b7\u03c2, \u03b5\u03af\u03bd\u03b1\u03b9 \u03c3\u03c5\u03c7\u03bd\u03cc \u03c4\u03bf \u03c6\u03b1\u03b9\u03bd\u03cc\u03bc\u03b5\u03bd\u03bf \u03bd\u03b1 \u03b1\u03b3\u03bf\u03c1\u03ac\u03b6\u03b5\u03c4\u03b1\u03b9 \u03b7 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03bc\u03ad\u03c3\u03c9 M&amp;A \u03b1\u03bd\u03c4\u03af \u03b3\u03b9\u03b1 IPO, \u03b5\u03c0\u03bf\u03bc\u03ad\u03bd\u03c9\u03c2 \u03b3\u03b9\u03b1 \u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2, \u03b7 \u03b1\u03c0\u03bf\u03c5\u03c3\u03af\u03b1 \u03c1\u03ae\u03c4\u03c1\u03b1\u03c2 &#8220;\u0394\u03ae\u03b8\u03b5\u03bd \u0395\u03ba\u03ba\u03b1\u03b8\u03ac\u03c1\u03b9\u03c3\u03b7\u03c2&#8221; \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03c3\u03b7\u03bc\u03b1\u03af\u03bd\u03b5\u03b9 \u03cc\u03c4\u03b9 \u03b4\u03b5\u03bd \u03b8\u03b1 \u03bc\u03c0\u03bf\u03c1\u03ad\u03c3\u03bf\u03c5\u03bd \u03bd\u03b1 \u03b5\u03b9\u03c3\u03c0\u03c1\u03ac\u03be\u03bf\u03c5\u03bd \u03c4\u03b7\u03bd \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03ae \u03c4\u03bf\u03c5\u03c2. \u0393\u03b9\u03b1 \u03c4\u03b9\u03c2 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 &#8220;\u0394\u03ae\u03b8\u03b5\u03bd \u0395\u03ba\u03ba\u03b1\u03b8\u03ac\u03c1\u03b9\u03c3\u03b7\u03c2&#8221; \u03c3\u03b5 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd, \u03ad\u03c7\u03bf\u03c5\u03bc\u03b5 \u03c0\u03b1\u03c1\u03ac\u03c3\u03c7\u03b5\u03b9 \u03bb\u03b5\u03c0\u03c4\u03bf\u03bc\u03b5\u03c1\u03ae \u03b5\u03be\u03ae\u03b3\u03b7\u03c3\u03b7 \u03c3\u03c4\u03bf \u03c0\u03b1\u03c1\u03b1\u03ba\u03ac\u03c4\u03c9 \u03ac\u03c1\u03b8\u03c1\u03bf.<\/p>\n<p>\u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03cc \u03ac\u03c1\u03b8\u03c1\u03bf: <a title=\"\" href=\"https:\/\/monolith.law\/corporate\/investment-contract-liquidation-provision\" target=\"_blank\" rel=\"noopener\">\u03a4\u03b9 \u03b5\u03af\u03bd\u03b1\u03b9 \u03bf\u03b9 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 &#8220;\u0394\u03ae\u03b8\u03b5\u03bd \u0395\u03ba\u03ba\u03b1\u03b8\u03ac\u03c1\u03b9\u03c3\u03b7\u03c2&#8221; \u03c3\u03b5 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03c9\u03bd[ja]<\/a><\/p>\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%CE%98%CE%AD%CE%BC%CE%B1%CF%84%CE%B1_%CE%94%CE%B9%CE%BF%CE%AF%CE%BA%CE%B7%CF%83%CE%B7%CF%82_%CE%95%CF%84%CE%B1%CE%B9%CF%81%CE%B5%CE%AF%CE%B1%CF%82\"><\/span>\u0398\u03ad\u03bc\u03b1\u03c4\u03b1 \u0394\u03b9\u03bf\u03af\u03ba\u03b7\u03c3\u03b7\u03c2 \u0395\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u03a3\u03c4\u03bf term sheet \u03b5\u03bd\u03cc\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03bf\u03cd \u03c3\u03c5\u03bc\u03b2\u03bf\u03bb\u03b1\u03af\u03bf\u03c5, \u03c4\u03b1 \u03b8\u03ad\u03bc\u03b1\u03c4\u03b1 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7 \u03b4\u03b9\u03bf\u03af\u03ba\u03b7\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 \u03c0\u03b5\u03c1\u03b9\u03bb\u03b1\u03bc\u03b2\u03ac\u03bd\u03bf\u03c5\u03bd \u03c4\u03b1 \u03b5\u03be\u03ae\u03c2. \u0393\u03b9\u03b1 \u03bb\u03b5\u03c0\u03c4\u03bf\u03bc\u03b5\u03c1\u03ae \u03b5\u03be\u03ae\u03b3\u03b7\u03c3\u03b7 \u03c4\u03c9\u03bd \u03c1\u03b7\u03c4\u03c1\u03ce\u03bd \u03c0\u03bf\u03c5 \u03c3\u03c7\u03b5\u03c4\u03af\u03b6\u03bf\u03bd\u03c4\u03b1\u03b9 \u03bc\u03b5 \u03c4\u03b7 \u03b4\u03b9\u03bf\u03af\u03ba\u03b7\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 \u03c3\u03b5 \u03ad\u03bd\u03b1 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03cc \u03c3\u03c5\u03bc\u03b2\u03cc\u03bb\u03b1\u03b9\u03bf, \u03b4\u03b5\u03af\u03c4\u03b5 \u03c4\u03bf \u03c0\u03b1\u03c1\u03b1\u03ba\u03ac\u03c4\u03c9 \u03ac\u03c1\u03b8\u03c1\u03bf.<\/p>\n\n\n\n<p>\u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03cc \u03ac\u03c1\u03b8\u03c1\u03bf: <a href=\"https:\/\/monolith.law\/corporate\/investment-contract-clause-management-company\" target=\"_blank\" rel=\"noreferrer noopener\">\u03a1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7 \u03b4\u03b9\u03bf\u03af\u03ba\u03b7\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 \u03c3\u03b5 \u03ad\u03bd\u03b1 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03cc \u03c3\u03c5\u03bc\u03b2\u03cc\u03bb\u03b1\u03b9\u03bf[ja]<\/a><\/p>\n\n\n\n<ul>\n<li>\u03a1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7\u03bd \u03c5\u03c0\u03bf\u03c7\u03c1\u03ad\u03c9\u03c3\u03b7 \u03c0\u03c1\u03bf\u03c3\u03c0\u03ac\u03b8\u03b5\u03b9\u03b1\u03c2 \u03b3\u03b9\u03b1 \u03b5\u03b9\u03c3\u03b1\u03b3\u03c9\u03b3\u03ae \u03c3\u03c4\u03bf \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03b9\u03c3\u03c4\u03ae\u03c1\u03b9\u03bf<\/li>\n\n\n\n<li>\u03a1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7 \u03c7\u03c1\u03ae\u03c3\u03b7 \u03c4\u03c9\u03bd \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03c9\u03bd<\/li>\n\n\n\n<li>\u03a1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7\u03bd \u03b1\u03c0\u03bf\u03c3\u03c4\u03bf\u03bb\u03ae \u03b4\u03b9\u03b5\u03c5\u03b8\u03c5\u03bd\u03c4\u03ce\u03bd \u03ae \u03c0\u03b1\u03c1\u03b1\u03c4\u03b7\u03c1\u03b7\u03c4\u03ce\u03bd<\/li>\n\n\n\n<li>\u03a1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b9\u03c2 \u03b4\u03b7\u03bb\u03ce\u03c3\u03b5\u03b9\u03c2 \u03ba\u03b1\u03b9 \u03b5\u03b3\u03b3\u03c5\u03ae\u03c3\u03b5\u03b9\u03c2<\/li>\n\n\n\n<li>\u03a1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7\u03bd \u03b5\u03b9\u03b4\u03bf\u03c0\u03bf\u03af\u03b7\u03c3\u03b7 \u03ba\u03b1\u03b9 \u03c4\u03b7\u03bd \u03c0\u03c1\u03bf\u03b7\u03b3\u03bf\u03cd\u03bc\u03b5\u03bd\u03b7 \u03ad\u03b3\u03ba\u03c1\u03b9\u03c3\u03b7 \u03b1\u03c0\u03cc \u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03b3\u03b9\u03b1 \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03ac \u03b8\u03ad\u03bc\u03b1\u03c4\u03b1<\/li>\n\n\n\n<li>\u03a1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7\u03bd \u03b5\u03b9\u03b4\u03bf\u03c0\u03bf\u03af\u03b7\u03c3\u03b7 \u03c0\u03c1\u03bf\u03c2 \u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd \u03b5\u03ba\u03c4\u03ad\u03bb\u03b5\u03c3\u03b7<\/li>\n\n\n\n<li>\u03a1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7\u03bd \u03b1\u03c6\u03bf\u03c3\u03af\u03c9\u03c3\u03b7 \u03c3\u03c4\u03b7 \u03b4\u03b9\u03bf\u03af\u03ba\u03b7\u03c3\u03b7<\/li>\n<\/ul>\n\n\n\n<p>\u0397 \u03c1\u03ae\u03c4\u03c1\u03b1 \u03b1\u03c0\u03bf\u03c3\u03c4\u03bf\u03bb\u03ae\u03c2 \u03b4\u03b9\u03b5\u03c5\u03b8\u03c5\u03bd\u03c4\u03ce\u03bd \u03b1\u03bd\u03b1\u03c6\u03ad\u03c1\u03b5\u03c4\u03b1\u03b9 \u03c3\u03c4\u03b7\u03bd \u03c0\u03c1\u03cc\u03b2\u03bb\u03b5\u03c8\u03b7 \u03cc\u03c0\u03bf\u03c5 \u03bf\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2, \u03cc\u03c0\u03c9\u03c2 \u03c4\u03b1 venture capitals (VCs) \u03ba\u03b1\u03b9 \u03ac\u03bb\u03bb\u03bf\u03b9, \u03b1\u03c0\u03b1\u03b9\u03c4\u03bf\u03cd\u03bd \u03c4\u03b7\u03bd \u03c4\u03bf\u03c0\u03bf\u03b8\u03ad\u03c4\u03b7\u03c3\u03b7 \u03c4\u03c9\u03bd \u03b4\u03b9\u03ba\u03ce\u03bd \u03c4\u03bf\u03c5\u03c2 \u03c5\u03c0\u03b1\u03bb\u03bb\u03ae\u03bb\u03c9\u03bd \u03c9\u03c2 \u03b4\u03b9\u03b5\u03c5\u03b8\u03c5\u03bd\u03c4\u03ad\u03c2 \u03c3\u03c4\u03b9\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03bf\u03c5\u03bd. \u0395\u03af\u03bd\u03b1\u03b9 \u03c3\u03c5\u03bd\u03b7\u03b8\u03b9\u03c3\u03bc\u03ad\u03bd\u03bf \u03b3\u03b9\u03b1 \u03c4\u03b1 VCs \u03ba\u03b1\u03b9 \u03ac\u03bb\u03bb\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03bd\u03b1 \u03b6\u03b7\u03c4\u03bf\u03cd\u03bd \u03bd\u03b1 \u03b5\u03bc\u03c0\u03bb\u03ad\u03ba\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c3\u03b5 \u03ad\u03bd\u03b1\u03bd \u03b2\u03b1\u03b8\u03bc\u03cc \u03c3\u03c4\u03b7 \u03b4\u03b9\u03bf\u03af\u03ba\u03b7\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 \u03b3\u03b9\u03b1 \u03c4\u03b7\u03bd \u03b5\u03c0\u03b9\u03c3\u03c4\u03c1\u03bf\u03c6\u03ae \u03c4\u03b7\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03ae\u03c2 \u03c4\u03bf\u03c5\u03c2. \u0397 \u03b1\u03c0\u03bf\u03c3\u03c4\u03bf\u03bb\u03ae \u03c5\u03c0\u03b1\u03bb\u03bb\u03ae\u03bb\u03c9\u03bd \u03c9\u03c2 \u03b4\u03b9\u03b5\u03c5\u03b8\u03c5\u03bd\u03c4\u03ad\u03c2 \u03ae \u03c0\u03b1\u03c1\u03b1\u03c4\u03b7\u03c1\u03b7\u03c4\u03ad\u03c2 \u03b5\u03c0\u03b9\u03c4\u03c1\u03ad\u03c0\u03b5\u03b9 \u03c3\u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03bd\u03b1 \u03ba\u03b1\u03c4\u03b1\u03bd\u03bf\u03bf\u03cd\u03bd \u03c4\u03b9\u03c2 \u03b5\u03c3\u03c9\u03c4\u03b5\u03c1\u03b9\u03ba\u03ad\u03c2 \u03c3\u03c5\u03bd\u03b8\u03ae\u03ba\u03b5\u03c2 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 \u03c3\u03b5 \u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b9\u03ba\u03cc \u03c7\u03c1\u03cc\u03bd\u03bf \u03ba\u03b1\u03b9, \u03bc\u03ad\u03c3\u03c9 \u03c4\u03b7\u03c2 \u03c3\u03c5\u03bc\u03bc\u03b5\u03c4\u03bf\u03c7\u03ae\u03c2 \u03c4\u03bf\u03c5\u03c2 \u03c3\u03c4\u03bf \u03b4\u03b9\u03bf\u03b9\u03ba\u03b7\u03c4\u03b9\u03ba\u03cc \u03c3\u03c5\u03bc\u03b2\u03bf\u03cd\u03bb\u03b9\u03bf, \u03bd\u03b1 \u03b5\u03c0\u03b7\u03c1\u03b5\u03ac\u03b6\u03bf\u03c5\u03bd \u03c3\u03b5 \u03ba\u03ac\u03c0\u03bf\u03b9\u03bf \u03b2\u03b1\u03b8\u03bc\u03cc \u03c4\u03b7 \u03bb\u03ae\u03c8\u03b7 \u03b1\u03c0\u03bf\u03c6\u03ac\u03c3\u03b5\u03c9\u03bd \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2. \u03a4\u03b1 \u03b8\u03ad\u03bc\u03b1\u03c4\u03b1 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7\u03bd \u03bf\u03bd\u03bf\u03bc\u03b1\u03c3\u03af\u03b1 \u03c4\u03c9\u03bd \u03b4\u03b9\u03b5\u03c5\u03b8\u03c5\u03bd\u03c4\u03ce\u03bd \u03ba\u03b1\u03c4\u03b1\u03b3\u03c1\u03ac\u03c6\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c3\u03c4\u03bf term sheet \u03c9\u03c2 \u03b5\u03be\u03ae\u03c2.<\/p>\n\n\n<p>\u039f\u03b9 \u03bc\u03ad\u03c4\u03bf\u03c7\u03bf\u03b9 \u03c0\u03bf\u03c5 \u03ba\u03b1\u03c4\u03ad\u03c7\u03bf\u03c5\u03bd \u03c0\u03ac\u03bd\u03c9 \u03b1\u03c0\u03cc \u03a7% \/ \u03a7 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03b1\u03c0\u03cc \u03c4\u03b9\u03c2 \u03ae\u03b4\u03b7 \u03b5\u03ba\u03b4\u03bf\u03b8\u03b5\u03af\u03c3\u03b5\u03c2 \u039f\u03a0\u039f\u0399\u039f\u03a5\u0394\u0397\u03a0\u039f\u03a4\u0395 \u0395\u0399\u0394\u039f\u03a5\u03a3 \u03c0\u03c1\u03bf\u03bd\u03bf\u03bc\u03b9\u03bf\u03cd\u03c7\u03b5\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2, \u03ad\u03c7\u03bf\u03c5\u03bd \u03c4\u03bf \u03b4\u03b9\u03ba\u03b1\u03af\u03c9\u03bc\u03b1 \u03bd\u03b1 \u03bf\u03c1\u03af\u03c3\u03bf\u03c5\u03bd \u03ad\u03bd\u03b1\u03bd \u03b4\u03b9\u03b5\u03c5\u03b8\u03c5\u03bd\u03c4\u03ae.<\/p>\n<p>\u0393\u03b9\u03b1 \u03c4\u03b9\u03c2 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03b1\u03c6\u03bf\u03c1\u03bf\u03cd\u03bd \u03c4\u03b7\u03bd \u03b1\u03c0\u03bf\u03c3\u03c4\u03bf\u03bb\u03ae \u03b4\u03b9\u03b5\u03c5\u03b8\u03c5\u03bd\u03c4\u03ce\u03bd \u03ba\u03b1\u03b9 \u03ac\u03bb\u03bb\u03c9\u03bd \u03c3\u03c4\u03b5\u03bb\u03b5\u03c7\u03ce\u03bd \u03c3\u03c4\u03b1 \u03c0\u03bb\u03b1\u03af\u03c3\u03b9\u03b1 \u03b5\u03bd\u03cc\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03bf\u03cd \u03c3\u03c5\u03bc\u03b2\u03bf\u03bb\u03b1\u03af\u03bf\u03c5, \u03ad\u03c7\u03bf\u03c5\u03bc\u03b5 \u03c0\u03b1\u03c1\u03ac\u03c3\u03c7\u03b5\u03b9 \u03bc\u03b9\u03b1 \u03bb\u03b5\u03c0\u03c4\u03bf\u03bc\u03b5\u03c1\u03ae \u03b5\u03be\u03ae\u03b3\u03b7\u03c3\u03b7 \u03c3\u03c4\u03bf \u03c0\u03b1\u03c1\u03b1\u03ba\u03ac\u03c4\u03c9 \u03ac\u03c1\u03b8\u03c1\u03bf.<\/p>\n<p>\u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03cc \u03ac\u03c1\u03b8\u03c1\u03bf: <a title=\"\" href=\"https:\/\/monolith.law\/corporate\/clause-dispatching-of-company-executives\" target=\"_blank\" rel=\"noopener\">\u03a4\u03b9 \u03b5\u03af\u03bd\u03b1\u03b9 \u03bf\u03b9 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03b1\u03c0\u03bf\u03c3\u03c4\u03bf\u03bb\u03ae\u03c2 \u03b4\u03b9\u03b5\u03c5\u03b8\u03c5\u03bd\u03c4\u03ce\u03bd \u03c3\u03b5 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ac \u03c3\u03c5\u03bc\u03b2\u03cc\u03bb\u03b1\u03b9\u03b1[ja]<\/a><\/p>\n<p>\u0395\u03c0\u03b9\u03c0\u03bb\u03ad\u03bf\u03bd, \u03c3\u03c4\u03b1 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ac \u03c3\u03c5\u03bc\u03b2\u03cc\u03bb\u03b1\u03b9\u03b1 \u03ba\u03b1\u03b8\u03bf\u03c1\u03af\u03b6\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c3\u03c5\u03bd\u03ae\u03b8\u03c9\u03c2 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03b5\u03ba\u03c0\u03c1\u03bf\u03c3\u03ce\u03c0\u03b7\u03c3\u03b7\u03c2 \u03ba\u03b1\u03b9 \u03b5\u03b3\u03b3\u03c5\u03ae\u03c3\u03b5\u03c9\u03bd \u03b3\u03b9\u03b1 \u03bd\u03b1 \u03b5\u03be\u03b1\u03c3\u03c6\u03b1\u03bb\u03b9\u03c3\u03c4\u03b5\u03af \u03cc\u03c4\u03b9 \u03b7 \u03bf\u03b9\u03ba\u03bf\u03bd\u03bf\u03bc\u03b9\u03ba\u03ae \u03ba\u03b1\u03c4\u03ac\u03c3\u03c4\u03b1\u03c3\u03b7 \u03ba\u03b1\u03b9 \u03b7 \u03b4\u03b9\u03b1\u03c7\u03b5\u03af\u03c1\u03b9\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 \u03c0\u03bf\u03c5 \u03b4\u03ad\u03c7\u03b5\u03c4\u03b1\u03b9 \u03c4\u03b7\u03bd \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7 \u03b5\u03af\u03bd\u03b1\u03b9 \u03ba\u03b1\u03c4\u03ac\u03bb\u03bb\u03b7\u03bb\u03b5\u03c2 \u03ba\u03b1\u03b9 \u03c3\u03cd\u03bc\u03c6\u03c9\u03bd\u03b5\u03c2 \u03bc\u03b5 \u03c4\u03b9\u03c2 \u03c0\u03c1\u03bf\u03b7\u03b3\u03bf\u03cd\u03bc\u03b5\u03bd\u03b5\u03c2 \u03b4\u03b7\u03bb\u03ce\u03c3\u03b5\u03b9\u03c2. \u039f\u03b9 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03b1\u03c5\u03c4\u03ad\u03c2 \u03b1\u03bd\u03b1\u03c6\u03ad\u03c1\u03bf\u03bd\u03c4\u03b1\u03b9 \u03b5\u03c0\u03af\u03c3\u03b7\u03c2 \u03c3\u03c4\u03bf term sheet. \u0393\u03b9\u03b1 \u03c4\u03b9\u03c2 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03b5\u03ba\u03c0\u03c1\u03bf\u03c3\u03ce\u03c0\u03b7\u03c3\u03b7\u03c2 \u03ba\u03b1\u03b9 \u03b5\u03b3\u03b3\u03c5\u03ae\u03c3\u03b5\u03c9\u03bd \u03c3\u03b5 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ac \u03c3\u03c5\u03bc\u03b2\u03cc\u03bb\u03b1\u03b9\u03b1, \u03c0\u03b1\u03c1\u03ad\u03c7\u03bf\u03c5\u03bc\u03b5 \u03bb\u03b5\u03c0\u03c4\u03bf\u03bc\u03b5\u03c1\u03ae \u03b5\u03be\u03ae\u03b3\u03b7\u03c3\u03b7 \u03c3\u03c4\u03bf \u03c0\u03b1\u03c1\u03b1\u03ba\u03ac\u03c4\u03c9 \u03ac\u03c1\u03b8\u03c1\u03bf.<\/p>\n<p>\u03a3\u03c7\u03b5\u03c4\u03b9\u03ba\u03cc \u03ac\u03c1\u03b8\u03c1\u03bf: <a title=\"\" href=\"https:\/\/monolith.law\/corporate\/representations-and-warranties-of-investment-contract\" target=\"_blank\" rel=\"noopener\">\u03a4\u03b9 \u03b5\u03af\u03bd\u03b1\u03b9 \u03bf\u03b9 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03b5\u03ba\u03c0\u03c1\u03bf\u03c3\u03ce\u03c0\u03b7\u03c3\u03b7\u03c2 \u03ba\u03b1\u03b9 \u03b5\u03b3\u03b3\u03c5\u03ae\u03c3\u03b5\u03c9\u03bd \u03c3\u03b5 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03ac \u03c3\u03c5\u03bc\u03b2\u03cc\u03bb\u03b1\u03b9\u03b1[ja]<\/a><\/p>\n<p>\u0395\u03c0\u03b9\u03c0\u03c1\u03cc\u03c3\u03b8\u03b5\u03c4\u03b1, \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03c5\u03c0\u03ac\u03c1\u03c7\u03bf\u03c5\u03bd \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03c0\u03bf\u03c5 \u03c0\u03b5\u03c1\u03b9\u03bf\u03c1\u03af\u03b6\u03bf\u03c5\u03bd \u03c4\u03b7 \u03b4\u03b9\u03b1\u03c1\u03c1\u03bf\u03ae \u03c3\u03c4\u03b5\u03bb\u03b5\u03c7\u03ce\u03bd \u03c3\u03b5 \u03c4\u03c1\u03af\u03c4\u03bf\u03c5\u03c2 \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03b7, \u03c9\u03c2 \u03bc\u03ad\u03c1\u03bf\u03c2 \u03c4\u03c9\u03bd \u03cc\u03c1\u03c9\u03bd \u03b3\u03b9\u03b1 \u03c4\u03b7\u03bd \u03b1\u03c6\u03bf\u03c3\u03af\u03c9\u03c3\u03b7 \u03c3\u03c4\u03b7 \u03b4\u03b9\u03bf\u03af\u03ba\u03b7\u03c3\u03b7. \u03a3\u03c4\u03bf term sheet, \u03b1\u03c5\u03c4\u03ad\u03c2 \u03bf\u03b9 \u03c1\u03ae\u03c4\u03c1\u03b5\u03c2 \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03c0\u03b5\u03c1\u03b9\u03b3\u03c1\u03ac\u03c6\u03bf\u03bd\u03c4\u03b1\u03b9 \u03c9\u03c2 \u03b5\u03be\u03ae\u03c2.<br \/>1. \u0394\u03b9\u03b5\u03c5\u03b8\u03c5\u03bd\u03c4\u03ad\u03c2 \u03b4\u03b5\u03bd \u03c0\u03b1\u03c1\u03b1\u03b9\u03c4\u03bf\u03cd\u03bd\u03c4\u03b1\u03b9 \u03ae \u03b1\u03c1\u03bd\u03bf\u03cd\u03bd\u03c4\u03b1\u03b9 \u03b5\u03c0\u03b1\u03bd\u03b5\u03ba\u03bb\u03bf\u03b3\u03ae \u03c7\u03c9\u03c1\u03af\u03c2 \u03c4\u03b7\u03bd \u03ad\u03b3\u03ba\u03c1\u03b9\u03c3\u03b7 \u03c4\u03c9\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ce\u03bd.<\/p>\n<p>2. \u0391\u03c0\u03b1\u03b3\u03cc\u03c1\u03b5\u03c5\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b1\u03bd\u03ac\u03bb\u03b7\u03c8\u03b7\u03c2 \u03c0\u03b1\u03c1\u03ac\u03bb\u03bb\u03b7\u03bb\u03c9\u03bd \u03b8\u03ad\u03c3\u03b5\u03c9\u03bd \u03ae \u03ba\u03b1\u03b8\u03b7\u03ba\u03cc\u03bd\u03c4\u03c9\u03bd \u03c7\u03c9\u03c1\u03af\u03c2 \u03c4\u03b7\u03bd \u03c0\u03c1\u03bf\u03b7\u03b3\u03bf\u03cd\u03bc\u03b5\u03bd\u03b7 \u03ad\u03b3\u03ba\u03c1\u03b9\u03c3\u03b7 \u03c4\u03c9\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ce\u03bd.<\/p>\n<p>3. \u03a5\u03c0\u03bf\u03c7\u03c1\u03ad\u03c9\u03c3\u03b7 \u03b1\u03c0\u03bf\u03c6\u03c5\u03b3\u03ae\u03c2 \u03b1\u03bd\u03c4\u03b1\u03b3\u03c9\u03bd\u03b9\u03c3\u03bc\u03bf\u03cd \u03ba\u03b1\u03c4\u03ac \u03c4\u03b7 \u03b4\u03b9\u03ac\u03c1\u03ba\u03b5\u03b9\u03b1 \u03c4\u03b7\u03c2 \u03b8\u03b7\u03c4\u03b5\u03af\u03b1\u03c2 \u03ba\u03b1\u03b9 \u03b3\u03b9\u03b1 \u039f \u03c7\u03c1\u03cc\u03bd\u03b9\u03b1 \u03bc\u03b5\u03c4\u03ac \u03c4\u03b7\u03bd \u03b1\u03c0\u03bf\u03c7\u03ce\u03c1\u03b7\u03c3\u03b7.<\/p>\n<p>\u0395\u03c0\u03b9\u03c0\u03bb\u03ad\u03bf\u03bd, \u03bf\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2 \u03cc\u03c0\u03c9\u03c2 \u03c4\u03b1 VC (Venture Capital) \u03c3\u03c5\u03bd\u03ae\u03b8\u03c9\u03c2 \u03b5\u03c0\u03b9\u03b4\u03b9\u03ce\u03ba\u03bf\u03c5\u03bd \u03c4\u03b7\u03bd \u03b5\u03c0\u03b9\u03c3\u03c4\u03c1\u03bf\u03c6\u03ae \u03c4\u03b7\u03c2 \u03b5\u03c0\u03ad\u03bd\u03b4\u03c5\u03c3\u03ae\u03c2 \u03c4\u03bf\u03c5\u03c2 \u03bc\u03ad\u03c3\u03c9 \u03c4\u03b7\u03c2 \u03b4\u03b7\u03bc\u03cc\u03c3\u03b9\u03b1\u03c2 \u03c0\u03c1\u03bf\u03c3\u03c6\u03bf\u03c1\u03ac\u03c2 (IPO) \u03c4\u03c9\u03bd \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03b9\u03ce\u03bd \u03c3\u03c4\u03b9\u03c2 \u03bf\u03c0\u03bf\u03af\u03b5\u03c2 \u03ad\u03c7\u03bf\u03c5\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03b9. \u0393\u03b9\u03b1 \u03b1\u03c5\u03c4\u03cc \u03c4\u03bf \u03bb\u03cc\u03b3\u03bf, \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03b8\u03b5\u03c3\u03c0\u03b9\u03c3\u03c4\u03b5\u03af \u03c5\u03c0\u03bf\u03c7\u03c1\u03ad\u03c9\u03c3\u03b7 \u03b3\u03b9\u03b1 \u03c4\u03b9\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b5\u03c2 \u03bd\u03b1 \u03ba\u03b1\u03c4\u03b1\u03b2\u03ac\u03bb\u03bb\u03bf\u03c5\u03bd \u03c0\u03c1\u03bf\u03c3\u03c0\u03ac\u03b8\u03b5\u03b9\u03b5\u03c2 \u03b3\u03b9\u03b1 \u03c4\u03b7\u03bd \u03b5\u03b9\u03c3\u03b1\u03b3\u03c9\u03b3\u03ae \u03c4\u03bf\u03c5\u03c2 \u03c3\u03c4\u03bf \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03b9\u03c3\u03c4\u03ae\u03c1\u03b9\u03bf. \u03a3\u03b5 \u03b1\u03c5\u03c4\u03ae \u03c4\u03b7\u03bd \u03c0\u03b5\u03c1\u03af\u03c0\u03c4\u03c9\u03c3\u03b7, \u03b7 \u03b4\u03b9\u03b1\u03c4\u03cd\u03c0\u03c9\u03c3\u03b7 \u03c3\u03c4\u03bf term sheet \u03b8\u03b1 \u03b5\u03af\u03bd\u03b1\u03b9 \u03c9\u03c2 \u03b5\u03be\u03ae\u03c2:<\/p>\n\n\n<p>1. \u0397 \u03b5\u03ba\u03b4\u03cc\u03c4\u03c1\u03b9\u03b1 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03ba\u03b1\u03b9 \u03bf\u03b9 \u03b9\u03b4\u03c1\u03c5\u03c4\u03b9\u03ba\u03bf\u03af \u03bc\u03ad\u03c4\u03bf\u03c7\u03bf\u03b9 \u03ad\u03c7\u03bf\u03c5\u03bd \u03c4\u03b7\u03bd \u03c5\u03c0\u03bf\u03c7\u03c1\u03ad\u03c9\u03c3\u03b7 \u03bd\u03b1 \u03ba\u03b1\u03c4\u03b1\u03b2\u03ac\u03bb\u03bf\u03c5\u03bd \u03c0\u03c1\u03bf\u03c3\u03c0\u03ac\u03b8\u03b5\u03b9\u03b1 \u03b3\u03b9\u03b1 \u03c4\u03b7\u03bd \u03b5\u03b9\u03c3\u03b1\u03b3\u03c9\u03b3\u03ae \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2 \u03c3\u03c4\u03bf \u03a7\u03c1\u03b7\u03bc\u03b1\u03c4\u03b9\u03c3\u03c4\u03ae\u03c1\u03b9\u03bf \u03a0\u03c1\u03bf\u03ca\u03cc\u03bd\u03c4\u03c9\u03bd \u039a\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5 \u03bc\u03ad\u03c7\u03c1\u03b9 \u03c4\u03bf \u03c4\u03ad\u03bb\u03bf\u03c2 \u03c4\u03bf\u03c5 \u03bc\u03ae\u03bd\u03b1 \u039f\u039f \u03c4\u03bf\u03c5 \u03ad\u03c4\u03bf\u03c5\u03c2 \u039f\u039f.<br> 2. \u0397 \u03b5\u03ba\u03b4\u03cc\u03c4\u03c1\u03b9\u03b1 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1 \u03ba\u03b1\u03b9 \u03bf\u03b9 \u03b9\u03b4\u03c1\u03c5\u03c4\u03b9\u03ba\u03bf\u03af \u03bc\u03ad\u03c4\u03bf\u03c7\u03bf\u03b9 \u03ad\u03c7\u03bf\u03c5\u03bd \u03c4\u03b7\u03bd \u03c5\u03c0\u03bf\u03c7\u03c1\u03ad\u03c9\u03c3\u03b7 \u03bd\u03b1 \u03c3\u03c5\u03bd\u03b5\u03c1\u03b3\u03b1\u03c3\u03c4\u03bf\u03cd\u03bd \u03c3\u03c4\u03b7\u03bd \u03c0\u03b5\u03c1\u03af\u03c0\u03c4\u03c9\u03c3\u03b7 \u03c0\u03bf\u03c5 \u03bf\u03b9 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2, \u03bb\u03cc\u03b3\u03c9 \u03bb\u03ae\u03be\u03b7\u03c2 \u03c4\u03b7\u03c2 \u03c0\u03c1\u03bf\u03b8\u03b5\u03c3\u03bc\u03af\u03b1\u03c2 \u03ae \u03ac\u03bb\u03bb\u03c9\u03bd \u03bb\u03cc\u03b3\u03c9\u03bd, \u03b5\u03af\u03bd\u03b1\u03b9 \u03b1\u03bd\u03b1\u03b3\u03ba\u03b1\u03c3\u03bc\u03ad\u03bd\u03bf\u03b9 \u03bd\u03b1 \u03c0\u03bf\u03c5\u03bb\u03ae\u03c3\u03bf\u03c5\u03bd \u03c4\u03b9\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03c4\u03b7\u03c2 \u03b5\u03ba\u03b4\u03cc\u03c4\u03c1\u03b9\u03b1\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2.<\/p>\n\n\n<p><cite><a href=\"https:\/\/www.meti.go.jp\/press\/2018\/04\/20180402006\/20180402006-1.pdf\">https:\/\/www.meti.go.jp\/press\/2018\/04\/20180402006\/20180402006-1.pdf<\/a><\/cite><\/p>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%CE%A3%CF%85%CE%BD%CE%BF%CF%80%CF%84%CE%B9%CE%BA%CE%AC\"><\/span>\u03a3\u03c5\u03bd\u03bf\u03c0\u03c4\u03b9\u03ba\u03ac<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u038c\u03c0\u03c9\u03c2 \u03b5\u03af\u03b4\u03b1\u03bc\u03b5 \u03c0\u03b1\u03c1\u03b1\u03c0\u03ac\u03bd\u03c9, \u03cc\u03c4\u03b1\u03bd \u03bb\u03b1\u03bc\u03b2\u03ac\u03bd\u03b5\u03c4\u03b5 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03b9\u03c2 \u03bc\u03ad\u03c3\u03c9 \u03b1\u03cd\u03be\u03b7\u03c3\u03b7\u03c2 \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf\u03c5 \u03bc\u03b5 \u03c4\u03b7\u03bd \u03b1\u03bd\u03ac\u03b8\u03b5\u03c3\u03b7 \u03c3\u03b5 \u03c4\u03c1\u03af\u03c4\u03bf\u03c5\u03c2, \u03b1\u03c0\u03b1\u03b9\u03c4\u03b5\u03af\u03c4\u03b1\u03b9 \u03b7 \u03bb\u03ae\u03c8\u03b7 \u03b1\u03c0\u03bf\u03c6\u03ac\u03c3\u03b5\u03c9\u03bd \u03b3\u03b9\u03b1 \u03c0\u03bf\u03bb\u03bb\u03ac \u03b8\u03ad\u03bc\u03b1\u03c4\u03b1. \u03a4\u03b1 \u03b8\u03ad\u03bc\u03b1\u03c4\u03b1 \u03c0\u03bf\u03c5 \u03ba\u03b1\u03b8\u03bf\u03c1\u03af\u03b6\u03bf\u03bd\u03c4\u03b1\u03b9 \u03b5\u03b4\u03ce \u03b5\u03af\u03bd\u03b1\u03b9 \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03ac \u03b3\u03b9\u03b1 \u03c4\u03b7\u03bd \u03b5\u03c0\u03b1\u03ba\u03cc\u03bb\u03bf\u03c5\u03b8\u03b7 \u03b4\u03b9\u03b1\u03c7\u03b5\u03af\u03c1\u03b9\u03c3\u03b7 \u03c4\u03b7\u03c2 \u03b5\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\u03c2, \u03b5\u03c0\u03bf\u03bc\u03ad\u03bd\u03c9\u03c2 \u03b5\u03af\u03bd\u03b1\u03b9 \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03cc \u03bd\u03b1 \u03b5\u03be\u03b5\u03c4\u03ac\u03c3\u03b5\u03c4\u03b5 \u03ba\u03ac\u03b8\u03b5 \u03ad\u03bd\u03b1 \u03b1\u03c0\u03cc \u03b1\u03c5\u03c4\u03ac \u03bc\u03b5 \u03c0\u03c1\u03bf\u03c3\u03bf\u03c7\u03ae \u03c3\u03c4\u03bf \u03c3\u03c4\u03ac\u03b4\u03b9\u03bf \u03c4\u03bf\u03c5 term sheet. \u03a0\u03bf\u03bb\u03bb\u03ac \u03b1\u03c0\u03cc \u03b1\u03c5\u03c4\u03ac \u03c4\u03b1 \u03b8\u03ad\u03bc\u03b1\u03c4\u03b1 \u03c0\u03c1\u03bf\u03cb\u03c0\u03bf\u03b8\u03ad\u03c4\u03bf\u03c5\u03bd \u03b3\u03bd\u03ce\u03c3\u03b7 \u03c4\u03bf\u03c5 \u0399\u03b1\u03c0\u03c9\u03bd\u03b9\u03ba\u03bf\u03cd \u039d\u03cc\u03bc\u03bf\u03c5 \u0395\u03c4\u03b1\u03b9\u03c1\u03b5\u03b9\u03ce\u03bd (Japanese Companies Act), \u03b3\u03b9&#8217; \u03b1\u03c5\u03c4\u03cc \u03bc\u03c0\u03bf\u03c1\u03b5\u03af \u03bd\u03b1 \u03b5\u03af\u03bd\u03b1\u03b9 \u03b4\u03cd\u03c3\u03ba\u03bf\u03bb\u03bf \u03bd\u03b1 \u03c4\u03b1 \u03ba\u03b1\u03c4\u03b1\u03bd\u03bf\u03ae\u03c3\u03b5\u03c4\u03b5. \u0393\u03b9&#8217; \u03b1\u03c5\u03c4\u03cc \u03c3\u03c5\u03bd\u03b9\u03c3\u03c4\u03bf\u03cd\u03bc\u03b5 \u03bd\u03b1 \u03c3\u03c5\u03bc\u03b2\u03bf\u03c5\u03bb\u03b5\u03c5\u03c4\u03b5\u03af\u03c4\u03b5 \u03ad\u03bd\u03b1\u03bd \u03b4\u03b9\u03ba\u03b7\u03b3\u03cc\u03c1\u03bf \u03bc\u03b5 \u03c0\u03bb\u03bf\u03cd\u03c3\u03b9\u03b1 \u03b5\u03bc\u03c0\u03b5\u03b9\u03c1\u03af\u03b1 \u03c3\u03c4\u03b7 \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03bf\u03b4\u03cc\u03c4\u03b7\u03c3\u03b7 \u03b5\u03c0\u03b9\u03c7\u03b5\u03b9\u03c1\u03ae\u03c3\u03b5\u03c9\u03bd \u03cc\u03c4\u03b1\u03bd \u03b4\u03b9\u03b1\u03c0\u03c1\u03b1\u03b3\u03bc\u03b1\u03c4\u03b5\u03cd\u03b5\u03c3\u03c4\u03b5 \u03c3\u03c5\u03bc\u03b2\u03ac\u03c3\u03b5\u03b9\u03c2 \u03b3\u03b9\u03b1 \u03bd\u03b1 \u03bb\u03ac\u03b2\u03b5\u03c4\u03b5 \u03b5\u03c0\u03b5\u03bd\u03b4\u03cd\u03c3\u03b5\u03b9\u03c2 \u03b1\u03c0\u03cc \u03c4\u03c1\u03af\u03c4\u03bf\u03c5\u03c2, \u03cc\u03c0\u03c9\u03c2 \u03c4\u03b1 venture capitals (VCs).<\/p>\n\n\n\n<p><a href=\"https:\/\/www.chusho.meti.go.jp\/kinyu\/shikinguri\/equityfinance\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/www.chusho.meti.go.jp\/kinyu\/shikinguri\/equityfinance\/index.html[ja]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u038c\u03c4\u03b1\u03bd \u03bc\u03b9\u03b1 \u03b5\u03ba\u03ba\u03b9\u03bd\u03bf\u03cd\u03c3\u03b1 \u03b5\u03c0\u03b9\u03c7\u03b5\u03af\u03c1\u03b7\u03c3\u03b7 (startup) \u03c0\u03c1\u03bf\u03c3\u03b5\u03b3\u03b3\u03af\u03b6\u03b5\u03b9 \u03ad\u03bd\u03b1\u03bd \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03b9\u03ba\u03cc \u03ba\u03b5\u03c6\u03b1\u03bb\u03b1\u03af\u03bf (Venture Capital &#8211; VC) \u03ae \u03ac\u03bb\u03bb\u03bf\u03c5\u03c2 \u03c4\u03c1\u03af\u03c4\u03bf\u03c5\u03c2 \u03b3\u03b9\u03b1 \u03c7\u03c1\u03b7\u03bc\u03b1\u03c4\u03bf\u03b4\u03cc\u03c4\u03b7\u03c3\u03b7, \u03b5\u03af\u03bd\u03b1\u03b9 \u03c3\u03c5\u03bd\u03ae\u03b8\u03c9\u03c2 \u03bd\u03b1 \u03b1\u03bd\u03b1\u03c4\u03af\u03b8\u03b5\u03bd\u03c4\u03b1\u03b9 \u03bd\u03ad\u03b5\u03c2 \u03bc\u03b5\u03c4\u03bf\u03c7\u03ad\u03c2 \u03c3\u03c4\u03bf\u03c5\u03c2 \u03b5\u03c0\u03b5\u03bd\u03b4\u03c5\u03c4\u03ad\u03c2  [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":74963,"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\/el\/wp-json\/wp\/v2\/posts\/65408"}],"collection":[{"href":"https:\/\/monolith.law\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/el\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/el\/wp-json\/wp\/v2\/comments?post=65408"}],"version-history":[{"count":5,"href":"https:\/\/monolith.law\/el\/wp-json\/wp\/v2\/posts\/65408\/revisions"}],"predecessor-version":[{"id":74962,"href":"https:\/\/monolith.law\/el\/wp-json\/wp\/v2\/posts\/65408\/revisions\/74962"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/el\/wp-json\/wp\/v2\/media\/74963"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/el\/wp-json\/wp\/v2\/media?parent=65408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/el\/wp-json\/wp\/v2\/categories?post=65408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/el\/wp-json\/wp\/v2\/tags?post=65408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}