{"id":60935,"date":"2023-12-12T14:30:21","date_gmt":"2023-12-12T05:30:21","guid":{"rendered":"https:\/\/monolith.law\/et\/?p=60935"},"modified":"2024-08-27T11:42:55","modified_gmt":"2024-08-27T02:42:55","slug":"ma-business-transfer-merit-demerit","status":"publish","type":"post","link":"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit","title":{"rendered":"M&amp;A &#8220;\u00c4ritegevuse \u00fcleandmise&#8221; protseduuri selgitus: eelised, puudused, mida tuleks silmas pidada?"},"content":{"rendered":"\n<p>Ettev\u00f5tte juhtide jaoks pole uue \u00e4ri alustamine ja selle \u00f5igele teele juhtimine lihtne \u00fclesanne. Teisest k\u00fcljest pole ka olulise \u00e4ri kolmandale osapoolele m\u00fc\u00fcmine, mida nimetatakse &#8220;\u00e4ri\u00fcleandmiseks&#8221;, otsus, mida saab lihtsalt teha ja ellu viia.<\/p>\n\n\n\n<p>M&amp;A raames &#8220;\u00e4ri\u00fcleandmine&#8221; on juhtimisotsus, mida tehakse teatud aegadel, kuid selle rakendamisel on palju teadmata asju, nagu milliseid protseduure tuleks j\u00e4rgida, millised on eelised ja puudused jne.<\/p>\n\n\n\n<p>Selles artiklis selgitame lihtsalt ja arusaadavalt &#8220;\u00e4ri\u00fcleandmise&#8221; skeemi, eeliseid ja puudusi ning protseduurilisi m\u00e4rkuseid, mis on ettev\u00f5tte juhtide jaoks suur juhtimisotsus.<\/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\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Aritegevuse_uleandmise_omadused\" title=\"\u00c4ritegevuse \u00fcleandmise omadused\">\u00c4ritegevuse \u00fcleandmise omadused<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Pohjused_miks_ostja_valib_ariulekande\" title=\"P\u00f5hjused, miks ostja valib \u00e4ri\u00fclekande\">P\u00f5hjused, miks ostja valib \u00e4ri\u00fclekande<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Aritegevuse_uleandmise_eelised_muujale\" title=\"\u00c4ritegevuse \u00fcleandmise eelised m\u00fc\u00fcjale\">\u00c4ritegevuse \u00fcleandmise eelised m\u00fc\u00fcjale<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Jarglase_probleemi_lahendusena\" title=\"J\u00e4rglase probleemi lahendusena\">J\u00e4rglase probleemi lahendusena<\/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\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Voimalus_vabaneda_kahjumlikust_aritegevusest\" title=\"V\u00f5imalus vabaneda kahjumlikust \u00e4ritegevusest\">V\u00f5imalus vabaneda kahjumlikust \u00e4ritegevusest<\/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\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Voimalus_rahastada\" title=\"V\u00f5imalus rahastada\">V\u00f5imalus rahastada<\/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\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Voimalus_sailitada_ettevote\" title=\"V\u00f5imalus s\u00e4ilitada ettev\u00f5te\">V\u00f5imalus s\u00e4ilitada ettev\u00f5te<\/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\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Aritegevuse_uleandmise_miinused_muuja_vaatepunktist\" title=\"\u00c4ritegevuse \u00fcleandmise miinused m\u00fc\u00fcja vaatepunktist\">\u00c4ritegevuse \u00fcleandmise miinused m\u00fc\u00fcja vaatepunktist<\/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\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Protseduur_on_keeruline_ja_aeganoudev\" title=\"Protseduur on keeruline ja aegan\u00f5udev\">Protseduur on keeruline ja aegan\u00f5udev<\/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\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Erakorraline_otsus_aktsionaride_uldkoosolekul_on_vajalik\" title=\"Erakorraline otsus aktsion\u00e4ride \u00fcldkoosolekul on vajalik\">Erakorraline otsus aktsion\u00e4ride \u00fcldkoosolekul on vajalik<\/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\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Ariuhingute_tulumaks_tuleb_tasuda\" title=\"\u00c4ri\u00fchingute tulumaks tuleb tasuda\">\u00c4ri\u00fchingute tulumaks tuleb tasuda<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#On_oht_kaotada_andekaid_tootajaid\" title=\"On oht kaotada andekaid t\u00f6\u00f6tajaid\">On oht kaotada andekaid t\u00f6\u00f6tajaid<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#On_konkurentsi_valtimise_kohustus\" title=\"On konkurentsi v\u00e4ltimise kohustus\">On konkurentsi v\u00e4ltimise kohustus<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Aritegevuse_uleandmise_protsess\" title=\"\u00c4ritegevuse \u00fcleandmise protsess\">\u00c4ritegevuse \u00fcleandmise protsess<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Aritegevuse_uleandmise_protseduuride_tahelepanekohad\" title=\"\u00c4ritegevuse \u00fcleandmise protseduuride t\u00e4helepanekohad\">\u00c4ritegevuse \u00fcleandmise protseduuride t\u00e4helepanekohad<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Uleandmise_hind\" title=\"\u00dcleandmise hind\">\u00dcleandmise hind<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Ajutise_aruande_esitamine\" title=\"Ajutise aruande esitamine\">Ajutise aruande esitamine<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Teavitamine_voi_avaldamine_aktsionaridele\" title=\"Teavitamine v\u00f5i avaldamine aktsion\u00e4ridele\">Teavitamine v\u00f5i avaldamine aktsion\u00e4ridele<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Eriresolutsioon_aktsionaride_uldkoosolekul\" title=\"Eriresolutsioon aktsion\u00e4ride \u00fcldkoosolekul\">Eriresolutsioon aktsion\u00e4ride \u00fcldkoosolekul<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Lihtsustatud_ariuleandmine\" title=\"Lihtsustatud \u00e4ri\u00fcleandmine\">Lihtsustatud \u00e4ri\u00fcleandmine<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Luhendatud_ariuleandmine\" title=\"L\u00fchendatud \u00e4ri\u00fcleandmine\">L\u00fchendatud \u00e4ri\u00fcleandmine<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Aritegevuse_uleviimise_protseduur\" title=\"\u00c4ritegevuse \u00fcleviimise protseduur\">\u00c4ritegevuse \u00fcleviimise protseduur<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/monolith.law\/et\/general-corporate\/ma-business-transfer-merit-demerit\/#Kokkuvote\" title=\"Kokkuv\u00f5te\">Kokkuv\u00f5te<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Aritegevuse_uleandmise_omadused\"><\/span>\u00c4ritegevuse \u00fcleandmise omadused<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u00c4ritegevuse \u00fcleandmine on \u00fcks M&amp;A meetodeid, kus ettev\u00f5te m\u00fc\u00fcb osa v\u00f5i kogu oma \u00e4ritegevuse kolmandale osapoolele. Osa \u00e4ritegevuse m\u00fc\u00fcmist nimetatakse &#8220;osaliseks m\u00fc\u00fcgiks&#8221;, kogu \u00e4ritegevuse m\u00fc\u00fcmist nimetatakse &#8220;t\u00e4ielikuks m\u00fc\u00fcgiks&#8221;.<\/p>\n\n\n\n<p>\u00c4ritegevus h\u00f5lmab mitmesuguseid aspekte, nagu immateriaal\u00f5igused nagu &#8220;goodwill&#8221; ja &#8220;br\u00e4nd&#8221;, intellektuaalomand nagu patendid ja know-how, tehnoloogia, personal, juhtimisorganisatsioon, m\u00fc\u00fcgikanalid, loa saamine, tarnijad ja muud \u00e4ripartnerid, tehased ja seadmed.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2021\/03\/ma-Business-transfer-merit-demerit1.jpg\" alt=\"\" class=\"wp-image-31357\" \/><\/figure>\n\n\n\n<p>\u00c4ritegevuse \u00fcleandmise p\u00f5him\u00f5te on need k\u00f5ik komplektina \u00fcle anda, kuid \u00e4ritegevuse \u00fcleandmise erip\u00e4ra on see, et saate valida ja osta ainult vajalikke asju.<\/p>\n\n\n\n<p>Lisaks sellele on \u00e4ritegevuse \u00fcleandmise meetodite hulgas ka &#8220;ettev\u00f5tte jagunemine&#8221;. Kui soovite selle kohta rohkem teada saada, lugege j\u00e4rgmist artiklit.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/business-transfer-company-split\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/business-transfer-company-split[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pohjused_miks_ostja_valib_ariulekande\"><\/span>P\u00f5hjused, miks ostja valib \u00e4ri\u00fclekande<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>2020. aastal (Reiwa 2. aastal) viis Mitsubishi UFJ Research &amp; Consulting l\u00e4bi uuringu &#8220;V\u00e4ikeste ja keskmise suurusega ettev\u00f5tete \u00e4ri restruktureerimine, \u00fchinemine ja ettev\u00f5tetevaheline koost\u00f6\u00f6&#8221;, milles osales umbes 30 000 v\u00e4ikest ja keskmise suurusega ettev\u00f5tet \u00fcle kogu Jaapani. Uuringus selgus, et ostjad valisid \u00e4ri\u00fclekande j\u00e4rgmistel p\u00f5hjustel:<\/p>\n\n\n\n<ul>\n<li>Soovitud vara, t\u00f6\u00f6tajate ja klientidega lepingute valik &#8211; 65,6%<\/li>\n\n\n\n<li>V\u00f5imalus v\u00e4ltida bilansiv\u00e4liste kohustuste \u00fclev\u00f5tmist ja ootamatuid riske &#8211; 29,6%<\/li>\n<\/ul>\n\n\n\n<p>Ostja jaoks on \u00e4ri\u00fclekande suurim eelis v\u00f5imalus v\u00e4ltida soovimatuid elemente ja riske ning valida ainult soovitud elemendid.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Aritegevuse_uleandmise_eelised_muujale\"><\/span>\u00c4ritegevuse \u00fcleandmise eelised m\u00fc\u00fcjale<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\/2021\/03\/ma-Business-transfer-merit-demerit2.jpg\" alt=\"\" class=\"wp-image-31360\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Jarglase_probleemi_lahendusena\"><\/span>J\u00e4rglase probleemi lahendusena<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Vananevate v\u00e4ike- ja keskmise suurusega ettev\u00f5tete juhtide suurim probleem on j\u00e4rglaste puudumine.<\/p>\n\n\n\n<p>Kui ettev\u00f5te l\u00f5petab tegevuse, v\u00f5ib see avaldada negatiivset m\u00f5ju t\u00f6\u00f6tajatele ja tarnijatele, kes on seotud \u00e4ritegevusega. \u00c4ritegevuse \u00fcleandmise kaudu on v\u00f5imalik tagada \u00e4ritegevuse j\u00e4tkumine.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Voimalus_vabaneda_kahjumlikust_aritegevusest\"><\/span>V\u00f5imalus vabaneda kahjumlikust \u00e4ritegevusest<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Kui peamine \u00e4ritegevus on edukas, kuid ettev\u00f5te kannatab kahjumliku osakonna t\u00f5ttu, v\u00f5ib see m\u00f5jutada kogu ettev\u00f5tte juhtimist. Sellisel juhul v\u00f5imaldab kahjumliku \u00e4ritegevuse m\u00fc\u00fck v\u00e4hendada kahjusid ja taastada ettev\u00f5tte juhtimine.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Voimalus_rahastada\"><\/span>V\u00f5imalus rahastada<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u00c4ritegevuse \u00fcleandmisest saadud raha saab kasutada peamise \u00e4ritegevuse tugevdamiseks ja laiendamiseks, uute \u00e4ritegevuste tehnoloogia arendamiseks v\u00f5i seadmete suurendamiseks.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Voimalus_sailitada_ettevote\"><\/span>V\u00f5imalus s\u00e4ilitada ettev\u00f5te<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Pikaajaliselt loodud ettev\u00f5tte maine, vara nagu kinnisvara, ja suhted tarnijatega saab s\u00e4ilitada, kui valitakse \u00e4ritegevuse \u00fcleandmine.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Aritegevuse_uleandmise_miinused_muuja_vaatepunktist\"><\/span>\u00c4ritegevuse \u00fcleandmise miinused m\u00fc\u00fcja vaatepunktist<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\/2021\/03\/ma-Business-transfer-merit-demerit3.jpg\" alt=\"\" class=\"wp-image-31361\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Protseduur_on_keeruline_ja_aeganoudev\"><\/span>Protseduur on keeruline ja aegan\u00f5udev<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Erinevalt ettev\u00f5tte \u00fcleandmisest n\u00f5uab \u00e4ritegevuse \u00fcleandmine erinevate vajalike elementide \u00fcleandmist v\u00f5i \u00fcleviimist, mis teeb selle protsessi teiste M&amp;A meetoditega v\u00f5rreldes keerulisemaks ja aegan\u00f5udvamaks.<\/p>\n\n\n\n<p>M\u00f5ned protsessid, nagu lepingud \u00e4ripartneritega v\u00f5i t\u00f6\u00f6lepingud \u00e4ritegevusega seotud t\u00f6\u00f6tajatega, ei saa l\u00f5pule viia ainult m\u00fc\u00fcja ja ostja vahel.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Erakorraline_otsus_aktsionaride_uldkoosolekul_on_vajalik\"><\/span>Erakorraline otsus aktsion\u00e4ride \u00fcldkoosolekul on vajalik<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Detailsemalt selgitame seda j\u00e4rgmises osas &#8220;Mida tuleb arvestada \u00e4ritegevuse \u00fcleandmise protsessis&#8221;.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ariuhingute_tulumaks_tuleb_tasuda\"><\/span>\u00c4ri\u00fchingute tulumaks tuleb tasuda<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Maksustatakse &#8220;\u00fcleandmise kasum&#8221;, mis on \u00fcleandmise summa miinus \u00fcleantud vara raamatupidamisv\u00e4\u00e4rtus. Kui vara antakse \u00fcle madalama hinnaga kui raamatupidamisv\u00e4\u00e4rtus, tekib negatiivne \u00fcleandmise kasum. Sellisel juhul v\u00e4hendatakse negatiivse summa v\u00f5rra \u00e4ri\u00fchingute tulumaksu.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"On_oht_kaotada_andekaid_tootajaid\"><\/span>On oht kaotada andekaid t\u00f6\u00f6tajaid<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u00dcleantud \u00e4ritegevuse tegelikuks juhtimiseks on vaja teadmiste ja kogemustega t\u00f6\u00f6tajaid, seega pole harvad juhud, kus t\u00f6\u00f6tajad liiguvad ostja soovil koos \u00e4ritegevusega.<\/p>\n\n\n\n<p>On v\u00f5imalik, et m\u00f5ned t\u00f6\u00f6tajad, kes tunnevad end selles \u00e4ris motiveerituna, soovivad ise \u00fcle minna, seega on oht kaotada andekaid t\u00f6\u00f6tajaid \u00e4ritegevuse \u00fcleandmise vastu.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"On_konkurentsi_valtimise_kohustus\"><\/span>On konkurentsi v\u00e4ltimise kohustus<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Jaapani \u00e4ri\u00fchingute seadus (Japanese Companies Act) s\u00e4testab j\u00e4rgmised konkurentsi v\u00e4ltimise kohustused \u00e4ritegevuse m\u00fc\u00fcjatele:<\/p>\n\n\n\n<ul>\n<li>Kui pooled ei ole teisiti kokku leppinud, ei tohi m\u00fc\u00fcja 20 aasta jooksul p\u00e4rast \u00e4ritegevuse \u00fcleandmist tegeleda sama \u00e4ritegevusega samas v\u00f5i naaberlinnas v\u00f5i -vallas.<\/li>\n\n\n\n<li>Kui \u00fcleandev ettev\u00f5te on erikokkuleppes kohustunud mitte tegelema sama \u00e4ritegevusega, kehtib see erikokkulepe 30 aasta jooksul p\u00e4rast \u00e4ritegevuse \u00fcleandmist.<\/li>\n\n\n\n<li>Kui eelnevad kaks punkti ei kehti, ei tohi \u00fcleandev ettev\u00f5te tegeleda sama \u00e4ritegevusega ebaausa konkurentsi eesm\u00e4rgil.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Aritegevuse_uleandmise_protsess\"><\/span>\u00c4ritegevuse \u00fcleandmise protsess<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Protseduuriderohke \u00e4ritegevuse \u00fcleandmise p\u00f5hiprotsess on j\u00e4rgmine:<\/p>\n\n\n\n<ul>\n<li>\u00dcleantavate varade loetlemine ja \u00fcleandmise plaani koostamine<\/li>\n\n\n\n<li>\u00dcleandmise hindamise (v\u00e4\u00e4rtustamise) tegemine<\/li>\n\n\n\n<li>Projekti \u00fclevaate koostamine<\/li>\n\n\n\n<li>\u00dcleandmise sihtkoha valimine, l\u00e4bir\u00e4\u00e4kimised, p\u00f5hilepingu s\u00f5lmimine<\/li>\n\n\n\n<li>Juhatuse otsus<\/li>\n\n\n\n<li>\u00c4ritegevuse \u00fcleandmise lepingu s\u00f5lmimine (tingimusel, et aktsion\u00e4ride \u00fcldkoosolek on selle heaks kiitnud)<\/li>\n\n\n\n<li>Aktsion\u00e4ride \u00fcldkoosoleku \u00e4ritegevuse \u00fcleandmise lepingu heakskiitmine<\/li>\n\n\n\n<li>Ajutise aruande esitamine<\/li>\n\n\n\n<li>Teavitamine v\u00f5i avaldamine aktsion\u00e4ridele<\/li>\n\n\n\n<li>Aktsion\u00e4ride \u00fcldkoosoleku erakorraline otsus<\/li>\n\n\n\n<li>Varade jms nimetuse muutmise protseduurid ning lepingud klientide ja t\u00f6\u00f6tajatega<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Aritegevuse_uleandmise_protseduuride_tahelepanekohad\"><\/span>\u00c4ritegevuse \u00fcleandmise protseduuride t\u00e4helepanekohad<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\/2021\/03\/ma-Business-transfer-merit-demerit4.jpg\" alt=\"\" class=\"wp-image-31362\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Uleandmise_hind\"><\/span>\u00dcleandmise hind<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u00c4ritegevuse \u00fcleandmiseks peate objektiivselt hindama oma ettev\u00f5tte v\u00e4\u00e4rtust ja arvutama \u00fcleandmise hinna. Kuigi v\u00f5ite kasutada ettev\u00f5tte v\u00e4\u00e4rtuse hindamise meetodit, v\u00f5ib see olla aegan\u00f5udev ja kulukas ning tulemused v\u00f5ivad s\u00f5ltuvalt arvutusmeetodist oluliselt erineda, seega ei soovitata seda v\u00e4ikestele ja keskmise suurusega ettev\u00f5tetele.<\/p>\n\n\n\n<p>\u00c4ritegevuse v\u00e4\u00e4rtuse hindamisel kasutatakse sageli l\u00e4henemisviisi, kus \u00e4ritegevuse v\u00e4\u00e4rtus on &#8220;turuv\u00e4\u00e4rtusega \u00fcleantavad varad&#8221; ja &#8220;\u00e4ri\u00f5igused (goodwill)&#8221; summa.<\/p>\n\n\n\n<p>\u00c4ri\u00f5igused (goodwill) h\u00f5lmavad kaubam\u00e4rke, tehnoloogiat, teadmisi, juhtimisorganisatsiooni, suhteid klientidega ja muid immateriaalseid varasid, mille rahaline hindamine on keeruline. Seet\u00f5ttu kasutatakse arvutusmeetodina sageli &#8220;viimase 2-5 aasta tegelik kasum&#8221; \u00d7 &#8220;hindamise koefitsient&#8221;. Hindamise koefitsient varieerub s\u00f5ltuvalt t\u00f6\u00f6stusharust ja trendidest.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ajutise_aruande_esitamine\"><\/span>Ajutise aruande esitamine<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Ettev\u00f5tted, kellel on kohustus esitada v\u00e4\u00e4rtpaberite aruanne, peavad esitama &#8220;ajutise aruande&#8221;, kui nad vastavad j\u00e4rgmistele tingimustele:<\/p>\n\n\n\n<ul>\n<li>Kui \u00e4ritegevuse \u00fcleandmise t\u00f5ttu v\u00e4heneb v\u00f5i suureneb varade summa viimase majandusaasta l\u00f5pu seisuga rohkem kui 30% v\u00f5rra netovara suhtes<\/li>\n\n\n\n<li>Kui \u00e4ritegevuse \u00fcleandmise t\u00f5ttu v\u00e4heneb v\u00f5i suureneb k\u00e4ive rohkem kui 10% v\u00f5rra v\u00f5rreldes viimase majandusaasta tulemustega<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Teavitamine_voi_avaldamine_aktsionaridele\"><\/span>Teavitamine v\u00f5i avaldamine aktsion\u00e4ridele<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Kui teostate \u00e4ritegevuse \u00fcleandmist, peab ettev\u00f5te teavitama v\u00f5i avaldama sellest aktsion\u00e4ridele v\u00e4hemalt 20 p\u00e4eva enne selle j\u00f5ustumise kuup\u00e4eva. Samal ajal antakse teada ka vastuoluliste aktsion\u00e4ride aktsiate ostmise \u00f5igusest ja luuakse v\u00f5imalus ostmise taotlemiseks.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Eriresolutsioon_aktsionaride_uldkoosolekul\"><\/span>Eriresolutsioon aktsion\u00e4ride \u00fcldkoosolekul<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\/2021\/03\/ma-Business-transfer-merit-demerit5.jpg\" alt=\"\" class=\"wp-image-31363\" \/><\/figure>\n\n\n\n<p>Kui \u00e4ri\u00fcleandmine vastab \u00fchele j\u00e4rgmistest tingimustest, tuleb selle j\u00f5ustumise p\u00e4eva eelneval p\u00e4eval saada aktsion\u00e4ride \u00fcldkoosoleku eriresolutsiooniga heakskiit.<\/p>\n\n\n\n<ul>\n<li>\u00c4ri kogu osa \u00fcleandmine<\/li>\n\n\n\n<li>\u00c4ri olulise osa \u00fcleandmine<\/li>\n<\/ul>\n\n\n\n<p>Siiski on erandina v\u00f5imalik j\u00e4rgmiste kahe \u00e4ri\u00fcleandmise korral eriresolutsiooni mitte n\u00f5uda v\u00f5i see vahele j\u00e4tta.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Lihtsustatud_ariuleandmine\"><\/span>Lihtsustatud \u00e4ri\u00fcleandmine<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Kui \u00fcleantavate varade raamatupidamisv\u00e4\u00e4rtus ei \u00fcleta m\u00fc\u00fcja ettev\u00f5tte koguvarade 20%, siis on tegemist lihtsustatud \u00e4ri\u00fcleandmisega ja aktsion\u00e4ride \u00fcldkoosoleku eriresolutsioon ei ole vajalik.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Luhendatud_ariuleandmine\"><\/span>L\u00fchendatud \u00e4ri\u00fcleandmine<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Kui ostja ettev\u00f5te on erikontrolli ettev\u00f5te (ettev\u00f5te, mis omab 9\/10 v\u00f5i rohkem h\u00e4\u00e4le\u00f5igusega aktsiaid), siis on tegemist l\u00fchendatud \u00e4ri\u00fcleandmisega ja aktsion\u00e4ride \u00fcldkoosoleku eriresolutsiooni on v\u00f5imalik vahele j\u00e4tta.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Aritegevuse_uleviimise_protseduur\"><\/span>\u00c4ritegevuse \u00fcleviimise protseduur<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\/2021\/03\/ma-Business-transfer-merit-demerit6.jpg\" alt=\"\" class=\"wp-image-31364\" \/><\/figure>\n\n\n\n<p>\u00c4ritegevuse \u00fcleandmise korral tuleb k\u00f5ik varad, sealhulgas kinnisvara nagu maa ja hooned, seadmed, v\u00f5lakirjad ja v\u00f5lad, intellektuaalomandi \u00f5igused ning \u00e4ri\u00f5igused, \u00fcle anda eraldi.<\/p>\n\n\n\n<p>Kinnisvara puhul tuleb teha registri nime muutmise protseduur, patendi\u00f5iguste ja kaubam\u00e4rgi\u00f5iguste puhul tuleb teha \u00fcleviimise registreerimise protseduur. Lisaks on oluline korralikult planeerida \u00fcleviimise protseduuri ajakava, kuna on olemas mitmeid erinevaid protseduure, nagu lepingud \u00e4ripartneritega ja t\u00f6\u00f6lepingud \u00fcleantavate t\u00f6\u00f6tajatega.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Kokkuvote\"><\/span>Kokkuv\u00f5te<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Oleme selgitanud j\u00e4rgmisi teemasid: &#8220;ettev\u00f5tte \u00fcleandmise erip\u00e4rad&#8221;, &#8220;miks ostjad valivad ettev\u00f5tte \u00fcleandmise&#8221;, &#8220;ettev\u00f5tte \u00fcleandmise eelised ja puudused m\u00fc\u00fcjale&#8221;, &#8220;ettev\u00f5tte \u00fcleandmise protsess&#8221; ja &#8220;ettev\u00f5tte \u00fcleandmise protseduuri olulised punktid&#8221;.<\/p>\n\n\n\n<p>V\u00e4ikeste ja keskmise suurusega ettev\u00f5tete M&amp;A puhul on &#8220;ettev\u00f5tte \u00fcleandmine&#8221; koos &#8220;aktsiate \u00fcleandmisega&#8221; k\u00f5ige sagedamini valitud variant, kuid see n\u00f5uab hoolikat l\u00e4henemist, kuna see h\u00f5lmab mitmesuguseid protseduure ja lepinguid, nagu materiaalsete ja immateriaalsete varade \u00fcleandmine ning lepingud \u00e4ripartneritega.<\/p>\n\n\n\n<p>Soovitame konsulteerida \u00fcleandmise plaani koostamise etapis \u00f5igusb\u00fcrooga, mis on ka kogenud M&amp;A n\u00f5ustaja, et saada n\u00f5u protsessi l\u00e4biviimise ja oluliste punktide kohta.<\/p>\n\n\n\n<p>Kui soovite rohkem teada saada &#8220;ettev\u00f5tte j\u00e4rgluse eelistest ja protseduuridest M&amp;A kaudu&#8221;, siis lugege allpool toodud artiklit.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/business-succession-ma-merit\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/business-succession-ma-merit[ja]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ettev\u00f5tte juhtide jaoks pole uue \u00e4ri alustamine ja selle \u00f5igele teele juhtimine lihtne \u00fclesanne. Teisest k\u00fcljest pole ka olulise \u00e4ri kolmandale osapoolele m\u00fc\u00fcmine, mida nimetatakse &#8220;\u00e4ri\u00fcleandmis [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":65278,"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\/et\/wp-json\/wp\/v2\/posts\/60935"}],"collection":[{"href":"https:\/\/monolith.law\/et\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/et\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/et\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/et\/wp-json\/wp\/v2\/comments?post=60935"}],"version-history":[{"count":4,"href":"https:\/\/monolith.law\/et\/wp-json\/wp\/v2\/posts\/60935\/revisions"}],"predecessor-version":[{"id":65999,"href":"https:\/\/monolith.law\/et\/wp-json\/wp\/v2\/posts\/60935\/revisions\/65999"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/et\/wp-json\/wp\/v2\/media\/65278"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/et\/wp-json\/wp\/v2\/media?parent=60935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/et\/wp-json\/wp\/v2\/categories?post=60935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/et\/wp-json\/wp\/v2\/tags?post=60935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}