{"id":67010,"date":"2025-06-11T15:45:39","date_gmt":"2025-06-11T06:45:39","guid":{"rendered":"https:\/\/monolith.law\/ne\/?p=67010"},"modified":"2025-06-26T11:47:11","modified_gmt":"2025-06-26T02:47:11","slug":"investment-contract-convertible-bill","status":"publish","type":"post","link":"https:\/\/monolith.law\/ne\/general-corporate\/investment-contract-convertible-bill","title":{"rendered":"\u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0915\u094b \u0932\u0917\u093e\u0928\u0940 \u0938\u092e\u094d\u091d\u094c\u0924\u093e\u092e\u093e \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u0926\u093e\u092c\u0940 \u0905\u0927\u093f\u0915\u093e\u0930 \u0916\u0923\u094d\u0921\u0915\u094b \u0935\u094d\u092f\u093e\u0916\u094d\u092f\u093e"},"content":{"rendered":"\n<p>\u300c\u0932\u0917\u093e\u0928\u0940 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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\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%BE%E0%A4%A5%E0%A4%AE%E0%A4%BF%E0%A4%95_%E0%A4%B6%E0%A5%87%E0%A4%AF%E0%A4%B0%E0%A4%AC%E0%A4%BE%E0%A4%9F_%E0%A4%B8%E0%A4%BE%E0%A4%A7%E0%A4%BE%E0%A4%B0%E0%A4%A3_%E0%A4%B6%E0%A5%87%E0%A4%AF%E0%A4%B0%E0%A4%AE%E0%A4%BE_%E2%80%9C%E0%A4%B0%E0%A5%82%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A5%8D%E0%A4%A4%E0%A4%B0%E0%A4%A3%E2%80%9D_%E0%A4%95%E0%A5%87_%E0%A4%B9%E0%A5%8B\" title=\"\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u092c\u093e\u091f \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u092e\u093e &#8220;\u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923&#8221; \u0915\u0947 \u0939\u094b?\">\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u092c\u093e\u091f \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u092e\u093e &#8220;\u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923&#8221; \u0915\u0947 \u0939\u094b?<\/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\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%A8_%E0%A4%AE%E0%A4%BE%E0%A4%97_%E0%A4%85%E0%A4%A7%E0%A4%BF%E0%A4%95%E0%A4%BE%E0%A4%B0_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%AF%E0%A5%8B%E0%A4%97_%E0%A4%97%E0%A4%B0%E0%A5%8D%E0%A4%A8%E0%A5%87_%E0%A4%B8%E0%A4%AE%E0%A4%AF_%E0%A4%95%E0%A4%B9%E0%A4%BF%E0%A4%B2%E0%A5%87_%E0%A4%B9%E0%A5%81%E0%A4%A8%E0%A5%8D%E0%A4%9B\" title=\"\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930 \u092a\u094d\u0930\u092f\u094b\u0917 \u0917\u0930\u094d\u0928\u0947 \u0938\u092e\u092f \u0915\u0939\u093f\u0932\u0947 \u0939\u0941\u0928\u094d\u091b?\">\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930 \u092a\u094d\u0930\u092f\u094b\u0917 \u0917\u0930\u094d\u0928\u0947 \u0938\u092e\u092f \u0915\u0939\u093f\u0932\u0947 \u0939\u0941\u0928\u094d\u091b?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%B8%E0%A5%8D%E0%A4%9F%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%9F%E0%A4%85%E0%A4%AA%E0%A4%B2%E0%A5%87_IPO_%E0%A4%B6%E0%A5%87%E0%A4%AF%E0%A4%B0_%E0%A4%B8%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%B5%E0%A4%9C%E0%A4%A8%E0%A4%BF%E0%A4%95_%E0%A4%97%E0%A4%B0%E0%A5%8D%E0%A4%A8%E0%A5%87_%E0%A4%85%E0%A4%B5%E0%A4%B8%E0%A5%8D%E0%A4%A5%E0%A4%BE%E0%A4%AE%E0%A4%BE\" title=\"\u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0932\u0947 IPO (\u0936\u0947\u092f\u0930 \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915) \u0917\u0930\u094d\u0928\u0947 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e\">\u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0932\u0947 IPO (\u0936\u0947\u092f\u0930 \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915) \u0917\u0930\u094d\u0928\u0947 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%B8%E0%A5%8D%E0%A4%9F%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%9F%E0%A4%85%E0%A4%AA%E0%A4%95%E0%A5%8B_%E0%A4%85%E0%A4%A7%E0%A4%BF%E0%A4%97%E0%A5%8D%E0%A4%B0%E0%A4%B9%E0%A4%A3_%E0%A4%B9%E0%A5%81%E0%A4%A8%E0%A5%87_%E0%A4%85%E0%A4%B5%E0%A4%B8%E0%A5%8D%E0%A4%A5%E0%A4%BE%E0%A4%AE%E0%A4%BE\" title=\"\u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0915\u094b \u0905\u0927\u093f\u0917\u094d\u0930\u0939\u0923 \u0939\u0941\u0928\u0947 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href=\"https:\/\/monolith.law\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A5%80_%E0%A4%95%E0%A4%BE%E0%A4%A8%E0%A5%82%E0%A4%A8%E0%A5%80_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%A3%E0%A4%BE%E0%A4%B2%E0%A5%80_%E0%A4%85%E0%A4%A8%E0%A5%8D%E0%A4%A4%E0%A4%B0%E0%A5%8D%E0%A4%97%E0%A4%A4_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%A8_%E0%A4%AE%E0%A4%BE%E0%A4%97_%E0%A4%85%E0%A4%A7%E0%A4%BF%E0%A4%95%E0%A4%BE%E0%A4%B0_%E0%A4%96%E0%A4%A3%E0%A5%8D%E0%A4%A1%E0%A4%AE%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%A8_%E0%A4%AE%E0%A5%82%E0%A4%B2%E0%A5%8D%E0%A4%AF%E0%A4%95%E0%A5%8B_%E0%A4%B8%E0%A4%AE%E0%A4%BE%E0%A4%AF%E0%A5%8B%E0%A4%9C%E0%A4%A8_%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A4%BF\" title=\"\u091c\u093e\u092a\u093e\u0928\u0940 \u0915\u093e\u0928\u0942\u0928\u0940 \u092a\u094d\u0930\u0923\u093e\u0932\u0940 \u0905\u0928\u094d\u0924\u0930\u094d\u0917\u0924 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href=\"https:\/\/monolith.law\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%AB%E0%A5%81%E0%A4%B2_%E0%A4%B0%E0%A5%8D%E0%A4%AF%E0%A4%BE%E0%A4%9A%E0%A5%87%E0%A4%9F_%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A4%BF\" title=\"\u092b\u0941\u0932 \u0930\u094d\u092f\u093e\u091a\u0947\u091f \u0935\u093f\u0927\u093f\">\u092b\u0941\u0932 \u0930\u094d\u092f\u093e\u091a\u0947\u091f \u0935\u093f\u0927\u093f<\/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\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%AD%E0%A4%BE%E0%A4%B0%E0%A4%BF%E0%A4%A4_%E0%A4%94%E0%A4%B8%E0%A4%A4_%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A4%BF\" title=\"\u092d\u093e\u0930\u093f\u0924 \u0914\u0938\u0924 \u0935\u093f\u0927\u093f\">\u092d\u093e\u0930\u093f\u0924 \u0914\u0938\u0924 \u0935\u093f\u0927\u093f<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%AC%E0%A5%8D%E0%A4%B0%E0%A5%89%E0%A4%A1-%E0%A4%AC%E0%A5%87%E0%A4%B8_%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A4%BF\" title=\"\u092c\u094d\u0930\u0949\u0921-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f\">\u092c\u094d\u0930\u0949\u0921-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f<\/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\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%A8%E0%A5%8D%E0%A4%AF%E0%A4%BE%E0%A4%B0%E0%A5%8B-%E0%A4%AC%E0%A5%87%E0%A4%B8_%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A4%BF\" title=\"\u0928\u094d\u092f\u093e\u0930\u094b-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f\">\u0928\u094d\u092f\u093e\u0930\u094b-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f<\/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\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%A8_%E0%A4%AE%E0%A5%82%E0%A4%B2%E0%A5%8D%E0%A4%AF%E0%A4%95%E0%A5%8B_%E0%A4%B8%E0%A4%AE%E0%A4%BE%E0%A4%AF%E0%A5%8B%E0%A4%9C%E0%A4%A8_%E0%A4%A8%E0%A4%97%E0%A4%B0%E0%A5%8D%E0%A4%A8%E0%A5%87_%E0%A4%85%E0%A4%B5%E0%A4%B8%E0%A5%8D%E0%A4%A5%E0%A4%BE%E0%A4%AE%E0%A4%BE\" title=\"\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u0942\u0932\u094d\u092f\u0915\u094b \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0928\u0917\u0930\u094d\u0928\u0947 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e\">\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u0942\u0932\u094d\u092f\u0915\u094b \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0928\u0917\u0930\u094d\u0928\u0947 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class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/ne\/general-corporate\/investment-contract-convertible-bill\/#Pay_to_Play_%E0%A4%A7%E0%A4%BE%E0%A4%B0%E0%A4%BE\" title=\"Pay to Play \u0927\u093e\u0930\u093e\">Pay to Play \u0927\u093e\u0930\u093e<\/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\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%B8%E0%A4%BE%E0%A4%B0%E0%A4%BE%E0%A4%82%E0%A4%B6_%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A5%80_%E0%A4%B2%E0%A4%97%E0%A4%BE%E0%A4%A8%E0%A5%80_%E0%A4%B8%E0%A4%AE%E0%A5%8D%E0%A4%9D%E0%A5%8C%E0%A4%A4%E0%A4%BE%E0%A4%AE%E0%A4%BE_%E0%A4%B0%E0%A5%82%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A5%8D%E0%A4%A4%E0%A4%B0%E0%A4%A3_%E0%A4%A6%E0%A4%BE%E0%A4%AC%E0%A5%80_%E0%A4%85%E0%A4%A7%E0%A4%BF%E0%A4%95%E0%A4%BE%E0%A4%B0_%E0%A4%A7%E0%A4%BE%E0%A4%B0%E0%A4%BE\" title=\"\u0938\u093e\u0930\u093e\u0902\u0936: 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href=\"https:\/\/monolith.law\/ne\/general-corporate\/investment-contract-convertible-bill\/#%E0%A4%B9%E0%A4%BE%E0%A4%AE%E0%A5%8D%E0%A4%B0%E0%A5%8B_%E0%A4%AB%E0%A4%B0%E0%A5%8D%E0%A4%AE%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%A6%E0%A4%BE%E0%A4%A8_%E0%A4%97%E0%A4%B0%E0%A4%BF%E0%A4%A8%E0%A5%87_%E0%A4%89%E0%A4%AA%E0%A4%BE%E0%A4%AF%E0%A4%B9%E0%A4%B0%E0%A5%82%E0%A4%95%E0%A5%8B_%E0%A4%9C%E0%A4%BE%E0%A4%A8%E0%A4%95%E0%A4%BE%E0%A4%B0%E0%A5%80\" title=\"\u0939\u093e\u092e\u094d\u0930\u094b \u092b\u0930\u094d\u092e\u0926\u094d\u0935\u093e\u0930\u093e \u092a\u094d\u0930\u0926\u093e\u0928 \u0917\u0930\u093f\u0928\u0947 \u0909\u092a\u093e\u092f\u0939\u0930\u0942\u0915\u094b \u091c\u093e\u0928\u0915\u093e\u0930\u0940\">\u0939\u093e\u092e\u094d\u0930\u094b \u092b\u0930\u094d\u092e\u0926\u094d\u0935\u093e\u0930\u093e \u092a\u094d\u0930\u0926\u093e\u0928 \u0917\u0930\u093f\u0928\u0947 \u0909\u092a\u093e\u092f\u0939\u0930\u0942\u0915\u094b \u091c\u093e\u0928\u0915\u093e\u0930\u0940<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%BE%E0%A4%A5%E0%A4%AE%E0%A4%BF%E0%A4%95_%E0%A4%B6%E0%A5%87%E0%A4%AF%E0%A4%B0%E0%A4%AC%E0%A4%BE%E0%A4%9F_%E0%A4%B8%E0%A4%BE%E0%A4%A7%E0%A4%BE%E0%A4%B0%E0%A4%A3_%E0%A4%B6%E0%A5%87%E0%A4%AF%E0%A4%B0%E0%A4%AE%E0%A4%BE_%E2%80%9C%E0%A4%B0%E0%A5%82%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A5%8D%E0%A4%A4%E0%A4%B0%E0%A4%A3%E2%80%9D_%E0%A4%95%E0%A5%87_%E0%A4%B9%E0%A5%8B\"><\/span>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u092c\u093e\u091f \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u092e\u093e &#8220;\u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923&#8221; \u0915\u0947 \u0939\u094b?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u092a\u094d\u0930\u0915\u093e\u0930\u0917\u0924 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u092e\u093e, \u0935\u093f\u0936\u0947\u0937 \u0935\u093f\u0937\u092f\u0939\u0930\u0942\u092e\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u0905\u0927\u093f\u0915\u093e\u0930 \u0930\u093e\u0916\u094d\u0928\u0947 \u0936\u0947\u092f\u0930\u0932\u093e\u0908 &#8220;\u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930&#8221; \u092d\u0928\u093f\u0928\u094d\u091b\u0964 \u092f\u0940 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0932\u093e\u0908 \u0927\u093e\u0930\u0923 \u0917\u0930\u094d\u0928\u0947 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915 (\u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915) \u0932\u0947, \u091c\u093e\u0930\u0940 \u0917\u0930\u094d\u0928\u0947 \u0915\u092e\u094d\u092a\u0928\u0940\u0938\u0901\u0917 \u0924\u0940 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0932\u093e\u0908 \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u092e\u093e \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u0917\u0930\u094d\u0928 \u092e\u093e\u0917 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u0928\u0947 \u0905\u0927\u093f\u0915\u093e\u0930\u0932\u093e\u0908 &#8220;\u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930&#8221; \u092d\u0928\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<p>\u091c\u093e\u092a\u093e\u0928\u0940 \u0915\u092e\u094d\u092a\u0928\u0940 \u0910\u0928 (\u0915\u092e\u094d\u092a\u0928\u0940 \u0910\u0928 \u0927\u093e\u0930\u093e 108, \u0909\u092a\u0927\u093e\u0930\u093e 1, \u0927\u093e\u0930\u093e 5) \u0905\u0928\u094d\u0924\u0930\u094d\u0917\u0924, \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0932\u0947 \u0938\u092e\u094d\u092c\u0928\u094d\u0927\u093f\u0924 \u0915\u092e\u094d\u092a\u0928\u0940\u0938\u0901\u0917 \u0924\u0940 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u092a\u094d\u0930\u093e\u092a\u094d\u0924\u093f \u092e\u093e\u0917 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u0928\u0947 \u092a\u094d\u0930\u0915\u093e\u0930\u0917\u0924 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u091c\u093e\u0930\u0940 \u0917\u0930\u094d\u0928 \u0905\u0928\u0941\u092e\u0924\u093f \u0926\u093f\u0907\u090f\u0915\u094b \u091b\u0964 \u0915\u092e\u094d\u092a\u0928\u0940\u0932\u0947 \u0924\u0940 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u092a\u094d\u0930\u093e\u092a\u094d\u0924\u093f\u0915\u094b \u0932\u093e\u0917\u093f \u092e\u0942\u0932\u094d\u092f\u0915\u094b \u0930\u0942\u092a\u092e\u093e \u0928\u0917\u0926, \u0915\u092e\u094d\u092a\u0928\u0940 \u092c\u0928\u094d\u0927\u092a\u0924\u094d\u0930, \u0928\u092f\u093e\u0901 \u0936\u0947\u092f\u0930 \u0906\u0930\u0915\u094d\u0937\u0923 \u0905\u0927\u093f\u0915\u093e\u0930, \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930, \u0935\u093e \u0905\u0928\u094d\u092f \u092a\u094d\u0930\u0915\u093e\u0930\u0917\u0924 \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u092a\u094d\u0930\u0926\u093e\u0928 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u091b\u0964 \u0915\u092e\u094d\u092a\u0928\u0940\u0932\u0947 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0917\u0930\u0940, \u0924\u094d\u092f\u0938\u0915\u094b \u092e\u0942\u0932\u094d\u092f\u0915\u094b \u0930\u0942\u092a\u092e\u093e \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0938\u092e\u094d\u092c\u0928\u094d\u0927\u093f\u0924 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0932\u093e\u0908 \u092a\u094d\u0930\u0926\u093e\u0928 \u0917\u0930\u094d\u0928\u0947 (\u0905\u0930\u094d\u0925\u093e\u0924\u094d, \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0932\u093e\u0908 \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u092e\u093e &#8220;\u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923&#8221; \u0917\u0930\u094d\u0928\u0947) \u0905\u0927\u093f\u0915\u093e\u0930\u0932\u093e\u0908 &#8220;\u092a\u094d\u0930\u093e\u092a\u094d\u0924\u093f \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930&#8221; \u0938\u0901\u0917 \u092d\u093f\u0928\u094d\u0928\u0924\u093e \u0930\u093e\u0916\u094d\u0926\u0948 &#8220;\u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930&#8221; \u092d\u0928\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<p>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092d\u0947\u0928\u094d\u091a\u0930 \u0932\u0917\u093e\u0928\u0940 \u0938\u092e\u094d\u091d\u094c\u0924\u093e\u092e\u093e \u0928\u093f\u0930\u094d\u0926\u093f\u0937\u094d\u091f \u0917\u0930\u093f\u090f\u0915\u093e &#8220;\u092a\u094d\u0930\u0915\u093e\u0930\u0917\u0924 \u0936\u0947\u092f\u0930\u0939\u0930\u0942&#8221; \u092c\u093e\u0930\u0947 \u0935\u093f\u0938\u094d\u0924\u0943\u0924 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u091a\u093e\u0939\u0928\u0941\u0939\u0941\u0928\u094d\u091b \u092d\u0928\u0947, \u0924\u0932\u0915\u094b \u0932\u0947\u0916\u092e\u093e \u0935\u093f\u0938\u094d\u0924\u0943\u0924 \u0930\u0942\u092a\u092e\u093e \u0935\u0930\u094d\u0923\u0928 \u0917\u0930\u093f\u090f\u0915\u094b \u091b, \u0915\u0943\u092a\u092f\u093e \u092f\u0938 \u0932\u0947\u0916\u0938\u0901\u0917\u0948 \u0939\u0947\u0930\u094d\u0928\u0941\u0939\u094b\u0938\u094d\u0964<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/issuance-of-class-shares\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/issuance-of-class-shares[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%A8_%E0%A4%AE%E0%A4%BE%E0%A4%97_%E0%A4%85%E0%A4%A7%E0%A4%BF%E0%A4%95%E0%A4%BE%E0%A4%B0_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%AF%E0%A5%8B%E0%A4%97_%E0%A4%97%E0%A4%B0%E0%A5%8D%E0%A4%A8%E0%A5%87_%E0%A4%B8%E0%A4%AE%E0%A4%AF_%E0%A4%95%E0%A4%B9%E0%A4%BF%E0%A4%B2%E0%A5%87_%E0%A4%B9%E0%A5%81%E0%A4%A8%E0%A5%8D%E0%A4%9B\"><\/span>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930 \u092a\u094d\u0930\u092f\u094b\u0917 \u0917\u0930\u094d\u0928\u0947 \u0938\u092e\u092f \u0915\u0939\u093f\u0932\u0947 \u0939\u0941\u0928\u094d\u091b?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/monolith-law.jp\/wp-content\/uploads\/2022\/04\/shutterstock_393918229.jpg\" alt=\"\u0938\u092e\u092f\u0915\u094b \u091b\u0935\u093f\" class=\"wp-image-43902\" \/><\/figure><\/div>\n\n\n<p>\u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930 \u092a\u094d\u0930\u092f\u094b\u0917 \u0917\u0930\u094d\u0926\u093e, \u0938\u092e\u094d\u092c\u0928\u094d\u0927\u093f\u0924 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0932\u0947 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u092e\u093e \u092a\u094d\u0930\u0926\u093e\u0928 \u0917\u0930\u093f\u090f\u0915\u093e \u0935\u093f\u092d\u093f\u0928\u094d\u0928 \u0905\u0927\u093f\u0915\u093e\u0930\u0939\u0930\u0942 \u0917\u0941\u092e\u093e\u0909\u0901\u091b\u0928\u094d\u0964 \u0924\u094d\u092f\u0938\u0948\u0932\u0947, \u0938\u093e\u092e\u093e\u0928\u094d\u092f\u0924\u092f\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0932\u0947 \u0906\u092b\u0948\u0902\u0932\u0947 \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930 \u092a\u094d\u0930\u092f\u094b\u0917 \u0917\u0930\u094d\u0928\u0947 \u0905\u092a\u0947\u0915\u094d\u0937\u093e \u0917\u0930\u093f\u0901\u0926\u0948\u0928\u0964 \u0924\u0930, \u0938\u0940\u092e\u093f\u0924 \u0930\u0942\u092a\u092e\u093e \u0924\u0932\u0915\u093e \u091c\u0938\u094d\u0924\u093e \u0915\u0947\u0938\u0939\u0930\u0942\u092e\u093e \u092f\u094b \u0905\u0927\u093f\u0915\u093e\u0930 \u092a\u094d\u0930\u092f\u094b\u0917 \u0917\u0930\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%B8%E0%A5%8D%E0%A4%9F%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%9F%E0%A4%85%E0%A4%AA%E0%A4%B2%E0%A5%87_IPO_%E0%A4%B6%E0%A5%87%E0%A4%AF%E0%A4%B0_%E0%A4%B8%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%B5%E0%A4%9C%E0%A4%A8%E0%A4%BF%E0%A4%95_%E0%A4%97%E0%A4%B0%E0%A5%8D%E0%A4%A8%E0%A5%87_%E0%A4%85%E0%A4%B5%E0%A4%B8%E0%A5%8D%E0%A4%A5%E0%A4%BE%E0%A4%AE%E0%A4%BE\"><\/span>\u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0932\u0947 IPO (\u0936\u0947\u092f\u0930 \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915) \u0917\u0930\u094d\u0928\u0947 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u091c\u093e\u092a\u093e\u0928\u092e\u093e, \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915 \u0935\u093e \u092c\u091c\u093e\u0930\u092e\u093e \u0938\u0942\u091a\u0940\u092c\u0926\u094d\u0927 \u0917\u0930\u093f\u090f\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0938\u093e\u092e\u093e\u0928\u094d\u092f\u0924\u092f\u093e &#8220;\u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930&#8221; \u0939\u0941\u0928\u094d\u091b\u0928\u094d\u0964 \u0924\u094d\u092f\u0938\u0948\u0932\u0947, \u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0932\u0947 IPO \u0917\u0930\u094d\u0928\u0947 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e, \u092a\u0939\u093f\u0932\u0947 \u0928\u0948 &#8220;\u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930&#8221; \u0932\u093e\u0908 &#8220;\u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930&#8221; \u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u0917\u0930\u094d\u0928 \u0906\u0935\u0936\u094d\u092f\u0915 \u0939\u0941\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%B8%E0%A5%8D%E0%A4%9F%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%9F%E0%A4%85%E0%A4%AA%E0%A4%95%E0%A5%8B_%E0%A4%85%E0%A4%A7%E0%A4%BF%E0%A4%97%E0%A5%8D%E0%A4%B0%E0%A4%B9%E0%A4%A3_%E0%A4%B9%E0%A5%81%E0%A4%A8%E0%A5%87_%E0%A4%85%E0%A4%B5%E0%A4%B8%E0%A5%8D%E0%A4%A5%E0%A4%BE%E0%A4%AE%E0%A4%BE\"><\/span>\u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0915\u094b \u0905\u0927\u093f\u0917\u094d\u0930\u0939\u0923 \u0939\u0941\u0928\u0947 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0932\u0947 \u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e\u092a\u0928\u092e\u093e \u0938\u092e\u0938\u094d\u092f\u093e \u092d\u094b\u0917\u094d\u0926\u0948 \u0917\u0930\u094d\u0926\u093e \u0905\u0927\u093f\u0917\u094d\u0930\u0939\u0923 \u0939\u0941\u0928\u0947 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e, \u0916\u0930\u093f\u0926\u0915\u0930\u094d\u0924\u093e\u0932\u0947 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930 \u0939\u091f\u093e\u0909\u0928 \u092e\u093e\u0917 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u091b \u0930 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0932\u093e\u0908 \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930 \u092a\u094d\u0930\u092f\u094b\u0917 \u0917\u0930\u094d\u0928 \u0905\u0928\u0941\u0930\u094b\u0927 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u091b\u0964 \u0924\u0930, \u0938\u092b\u0932 \u0935\u094d\u092f\u0935\u0938\u093e\u092f \u092d\u090f\u0915\u094b \u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0915\u094b \u0905\u0927\u093f\u0917\u094d\u0930\u0939\u0923\u0915\u094b \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e, \u0936\u0947\u092f\u0930 \u092e\u0942\u0932\u094d\u092f \u0909\u091a\u094d\u091a \u0939\u0941\u0928 \u0938\u0915\u094d\u091b, \u091c\u0938\u0932\u0947 \u0917\u0930\u094d\u0926\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0932\u0947 \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u0917\u0930\u094d\u0926\u093e \u092c\u0922\u0940 \u0932\u093e\u092d \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u0928\u0947 \u0938\u092e\u094d\u092d\u093e\u0935\u0928\u093e \u0939\u0941\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A5%80_%E0%A4%95%E0%A4%BE%E0%A4%A8%E0%A5%82%E0%A4%A8%E0%A5%80_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%A3%E0%A4%BE%E0%A4%B2%E0%A5%80_%E0%A4%85%E0%A4%A8%E0%A5%8D%E0%A4%A4%E0%A4%B0%E0%A5%8D%E0%A4%97%E0%A4%A4_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%A8_%E0%A4%AE%E0%A4%BE%E0%A4%97_%E0%A4%85%E0%A4%A7%E0%A4%BF%E0%A4%95%E0%A4%BE%E0%A4%B0_%E0%A4%96%E0%A4%A3%E0%A5%8D%E0%A4%A1%E0%A4%AE%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%A8_%E0%A4%AE%E0%A5%82%E0%A4%B2%E0%A5%8D%E0%A4%AF%E0%A4%95%E0%A5%8B_%E0%A4%B8%E0%A4%AE%E0%A4%BE%E0%A4%AF%E0%A5%8B%E0%A4%9C%E0%A4%A8_%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A4%BF\"><\/span>\u091c\u093e\u092a\u093e\u0928\u0940 \u0915\u093e\u0928\u0942\u0928\u0940 \u092a\u094d\u0930\u0923\u093e\u0932\u0940 \u0905\u0928\u094d\u0924\u0930\u094d\u0917\u0924 \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930 \u0916\u0923\u094d\u0921\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u0942\u0932\u094d\u092f\u0915\u094b \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0935\u093f\u0927\u093f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/monolith-law.jp\/wp-content\/uploads\/2022\/05\/venturebusiness-investment-contract2.jpg\" alt=\"\u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u0942\u0932\u094d\u092f \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0917\u0930\u094d\u0928\u0947 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\" class=\"wp-image-44543\" \/><\/figure><\/div>\n\n\n<p>\u091c\u092c \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0932\u093e\u0908 \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u0917\u0930\u093f\u0928\u094d\u091b, \u0924\u094d\u092f\u0938\u0915\u094b \u0905\u0928\u0941\u092a\u093e\u0924\u0932\u093e\u0908 &#8220;\u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u0905\u0928\u0941\u092a\u093e\u0924&#8221; \u092d\u0928\u093f\u0928\u094d\u091b\u0964 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930 \u091c\u093e\u0930\u0940 \u0917\u0930\u094d\u0926\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u0905\u0928\u0941\u092a\u093e\u0924 \u0938\u093e\u092e\u093e\u0928\u094d\u092f\u0924\u092f\u093e 1:1 \u0928\u093f\u0930\u094d\u0927\u093e\u0930\u0923 \u0917\u0930\u093f\u0928\u094d\u091b, \u0924\u0930 \u092a\u091b\u093f \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u0915\u094b \u0935\u093f\u092d\u093e\u091c\u0928 \u0935\u093e \u0928\u093f\u0903\u0936\u0941\u0932\u094d\u0915 \u0935\u093f\u0924\u0930\u0923 \u091c\u0938\u094d\u0924\u093e \u0915\u093e\u0930\u094d\u092f\u0939\u0930\u0942 \u0917\u0930\u093f\u090f\u092e\u093e \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u0915\u094b \u0915\u0941\u0932 \u0938\u0902\u0916\u094d\u092f\u093e \u092c\u0922\u094d\u091b \u0930 \u092a\u094d\u0930\u0924\u093f \u0936\u0947\u092f\u0930\u0915\u094b \u092e\u0942\u0932\u094d\u092f \u0918\u091f\u094d\u091b (\u0936\u0947\u092f\u0930\u0915\u094b \u092a\u0924\u0932\u093e \u0939\u0941\u0928\u0947 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e)\u0964 \u092f\u0938 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0915\u094b \u0932\u093e\u092d \u0939\u093e\u0928\u093f \u0939\u0941\u0928 \u0938\u0915\u094d\u091b, \u0924\u094d\u092f\u0938\u0948\u0932\u0947 \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u0905\u0928\u0941\u092a\u093e\u0924\u0932\u093e\u0908 \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0917\u0930\u094d\u0928\u0947 \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u093e\u0917 \u0905\u0927\u093f\u0915\u093e\u0930 \u0916\u0923\u094d\u0921 \u0906\u0935\u0936\u094d\u092f\u0915 \u0939\u0941\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<p>\u0909\u0926\u093e\u0939\u0930\u0923\u0915\u093e \u0932\u093e\u0917\u093f, \u092f\u0926\u093f A \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u094b \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0915\u094b \u092d\u0941\u0915\u094d\u0924\u093e\u0928\u0940 \u0930\u0915\u092e\u092d\u0928\u094d\u0926\u093e \u0915\u092e \u092e\u0942\u0932\u094d\u092f\u092e\u093e B \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u094b \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930 \u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u0928\u094d\u091b \u092d\u0928\u0947 (\u203b) \u092a\u0924\u0932\u093e \u0939\u0941\u0928\u0947 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e\u0932\u093e\u0908 \u0930\u094b\u0915\u094d\u0928 \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u0942\u0932\u094d\u092f \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0917\u0930\u094d\u0928\u0947 \u0916\u0923\u094d\u0921 \u0928\u093f\u0930\u094d\u0927\u093e\u0930\u0923 \u0917\u0930\u093f\u0928\u094d\u091b\u0964<br>\uff08\u203b\uff09\u092f\u0938 \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u094b \u092a\u0942\u0901\u091c\u0940 \u0938\u0902\u0915\u0932\u0928\u0932\u093e\u0908 \u0938\u093e\u092e\u093e\u0928\u094d\u092f\u0924\u092f\u093e &#8220;\u0921\u093e\u0909\u0928\u0930\u093e\u0909\u0928\u094d\u0921&#8221; \u092d\u0928\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<p>\u092a\u0924\u0932\u093e \u0939\u0941\u0928\u0947 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e\u0932\u093e\u0908 \u0930\u094b\u0915\u094d\u0928 \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u0942\u0932\u094d\u092f\u0915\u094b \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0935\u093f\u0927\u093f\u092e\u093e \u092e\u0941\u0916\u094d\u092f\u0924\u092f\u093e \u0926\u0941\u0908 \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u093e \u0935\u093f\u0927\u093f\u0939\u0930\u0942 \u091b\u0928\u094d: &#8220;\u092a\u0942\u0930\u094d\u0923-\u0930\u094d\u092f\u093e\u091a\u0947\u091f \u0935\u093f\u0927\u093f&#8221; \u0930 &#8220;\u092d\u093e\u0930\u093f\u0924 \u0914\u0938\u0924 \u0935\u093f\u0927\u093f&#8221;\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%AB%E0%A5%81%E0%A4%B2_%E0%A4%B0%E0%A5%8D%E0%A4%AF%E0%A4%BE%E0%A4%9A%E0%A5%87%E0%A4%9F_%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A4%BF\"><\/span>\u092b\u0941\u0932 \u0930\u094d\u092f\u093e\u091a\u0947\u091f \u0935\u093f\u0927\u093f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0915\u094b \u0932\u093e\u0917\u093f \u0932\u093e\u092d\u0926\u093e\u092f\u0915 \u0935\u093f\u0927\u093f \u092d\u0928\u0947\u0915\u094b \u092f\u094b \u092b\u0941\u0932 \u0930\u094d\u092f\u093e\u091a\u0947\u091f \u0935\u093f\u0927\u093f (Full Ratchet Adjustment) \u0939\u094b\u0964 \u092f\u094b \u0935\u093f\u0927\u093f\u0915\u094b \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0935\u093f\u0927\u093f \u0905\u0928\u094d\u0924\u0930\u094d\u0917\u0924, \u0921\u093e\u0909\u0928\u0930\u093e\u0909\u0928\u094d\u0921\u092e\u093e \u0928\u092f\u093e\u0901 \u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u0928\u0947 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u091c\u093e\u0930\u0940 \u092e\u0942\u0932\u094d\u092f\u0938\u0901\u0917\u0948 \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f\u0932\u093e\u0908 \u0918\u091f\u093e\u0907\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<p>\u0909\u0926\u093e\u0939\u0930\u0923\u0915\u093e \u0932\u093e\u0917\u093f, A \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u094b \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u092a\u094d\u0930\u093e\u0930\u092e\u094d\u092d\u093f\u0915 \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f 1,000 \u092f\u0947\u0928 \u0925\u093f\u092f\u094b \u092d\u0928\u0947, B \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u094b \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u091c\u093e\u0930\u0940 \u092e\u0942\u0932\u094d\u092f 500 \u092f\u0947\u0928 \u0930\u093e\u0916\u093f\u090f\u0915\u094b \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e, \u0928\u092f\u093e\u0901 \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f 500 \u092f\u0947\u0928 \u0939\u0941\u0928\u0947\u091b \u0930 A \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u094b \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0932\u0947 \u0968 \u0917\u0941\u0923\u093e \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u092e\u093e \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u0928\u0947\u091b\u0928\u094d\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%AD%E0%A4%BE%E0%A4%B0%E0%A4%BF%E0%A4%A4_%E0%A4%94%E0%A4%B8%E0%A4%A4_%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A4%BF\"><\/span>\u092d\u093e\u0930\u093f\u0924 \u0914\u0938\u0924 \u0935\u093f\u0927\u093f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0935\u093e\u0938\u094d\u0924\u0935\u092e\u093e, \u0938\u092c\u0948\u092d\u0928\u094d\u0926\u093e \u092c\u0922\u0940 \u092a\u094d\u0930\u092f\u094b\u0917 \u0917\u0930\u093f\u0928\u0947 \u0935\u093f\u0927\u093f \u092d\u093e\u0930\u093f\u0924 \u0914\u0938\u0924 \u0938\u092e\u093e\u092f\u094b\u091c\u0928 (Weighted Average Adjustment) \u0939\u094b, \u091c\u0938\u092e\u093e \u0928\u092f\u093e\u0901 \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f \u0928\u093f\u092e\u094d\u0928 \u0917\u0923\u0928\u093e \u0938\u0942\u0924\u094d\u0930\u092c\u093e\u091f \u0928\u093f\u0915\u093e\u0932\u094d\u0928 \u0938\u0915\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<p>\u0928\u092f\u093e\u0901 \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f = \u092a\u0941\u0930\u093e\u0928\u094b \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f \u00d7\u3010\uff5b \u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u090f\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0938\u0902\u0916\u094d\u092f\u093e \uff0b\uff08 \u0928\u092f\u093e\u0901 \u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u090f\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0938\u0902\u0916\u094d\u092f\u093e \u00d7 \u091c\u093e\u0930\u0940 \u092e\u0942\u0932\u094d\u092f \uff09\u00f7 \u092a\u0941\u0930\u093e\u0928\u094b \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f \uff5d\u00f7\uff08 \u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u090f\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0938\u0902\u0916\u094d\u092f\u093e \uff0b \u0928\u092f\u093e\u0901 \u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u090f\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0938\u0902\u0916\u094d\u092f\u093e \uff09\u3011<\/p>\n\n\n\n<p>\u0925\u092a \u0930\u0942\u092a\u092e\u093e, \u092e\u093e\u0925\u093f\u0915\u094b \u0917\u0923\u0928\u093e \u0938\u0942\u0924\u094d\u0930\u092e\u093e &#8220;\u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u090f\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0938\u0902\u0916\u094d\u092f\u093e&#8221; \u0915\u094b \u092a\u0930\u093f\u092d\u093e\u0937\u093e \u0905\u0928\u0941\u0938\u093e\u0930, \u092f\u0938\u0932\u093e\u0908 \u2460 \u092c\u094d\u0930\u0949\u0921-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f \u0930 \u2461 \u0928\u094d\u092f\u093e\u0930\u094b-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f\u092e\u093e \u0935\u093f\u092d\u093e\u091c\u0928 \u0917\u0930\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%AC%E0%A5%8D%E0%A4%B0%E0%A5%89%E0%A4%A1-%E0%A4%AC%E0%A5%87%E0%A4%B8_%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A4%BF\"><\/span>\u092c\u094d\u0930\u0949\u0921-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u092c\u094d\u0930\u0949\u0921-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f\u092e\u093e &#8220;\u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u090f\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0938\u0902\u0916\u094d\u092f\u093e&#8221; \u092e\u093e \u0928\u093f\u092e\u094d\u0928 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0915\u0941\u0932 \u0938\u0902\u0916\u094d\u092f\u093e \u0938\u092e\u093e\u0935\u0947\u0936 \u0917\u0930\u093f\u0928\u094d\u091b, \u091c\u0938\u0932\u0947 \u0917\u0930\u094d\u0926\u093e \u0938\u092e\u093e\u092f\u094b\u091c\u0928\u0915\u094b \u0926\u093e\u092f\u0930\u093e \u0938\u093e\u0928\u094b \u0939\u0941\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<ul>\n<li>\u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u090f\u0915\u093e \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u0939\u0930\u0942<\/li>\n\n\n\n<li>\u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u0917\u0930\u094d\u0926\u093e \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0939\u0941\u0928\u0947 \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u0939\u0930\u0942<\/li>\n\n\n\n<li>\u0938\u094d\u091f\u0915 \u0905\u092a\u094d\u0936\u0928 (\u0928\u092f\u093e\u0901 \u0936\u0947\u092f\u0930 \u0906\u0930\u0915\u094d\u0937\u0923 \u0905\u0927\u093f\u0915\u093e\u0930) \u0935\u093e \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u0906\u0930\u0915\u094d\u0937\u0923 \u0905\u0927\u093f\u0915\u093e\u0930 \u0938\u0939\u093f\u0924\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u091c\u0938\u094d\u0924\u093e \u0938\u092e\u094d\u092d\u093e\u0935\u093f\u0924 \u0936\u0947\u092f\u0930\u0939\u0930\u0942<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%A8%E0%A5%8D%E0%A4%AF%E0%A4%BE%E0%A4%B0%E0%A5%8B-%E0%A4%AC%E0%A5%87%E0%A4%B8_%E0%A4%B5%E0%A4%BF%E0%A4%A7%E0%A4%BF\"><\/span>\u0928\u094d\u092f\u093e\u0930\u094b-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>\u0928\u094d\u092f\u093e\u0930\u094b-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f\u092e\u093e &#8220;\u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u090f\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0938\u0902\u0916\u094d\u092f\u093e&#8221; \u092e\u093e \u092e\u093e\u0925\u093f \u0909\u0932\u094d\u0932\u093f\u0916\u093f\u0924 &#8220;\u0938\u092e\u094d\u092d\u093e\u0935\u093f\u0924 \u0936\u0947\u092f\u0930\u0939\u0930\u0942&#8221; \u0938\u092e\u093e\u0935\u0947\u0936 \u0917\u0930\u093f\u0901\u0926\u0948\u0928, \u091c\u0938\u0932\u0947 \u0917\u0930\u094d\u0926\u093e \u0938\u092e\u093e\u092f\u094b\u091c\u0928\u0915\u094b \u0926\u093e\u092f\u0930\u093e \u0920\u0942\u0932\u094b \u0939\u0941\u0928\u094d\u091b \u0930 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0939\u0930\u0942\u0932\u093e\u0908 \u0932\u093e\u092d\u0926\u093e\u092f\u0915 \u092e\u093e\u0928\u093f\u0928\u094d\u091b\u0964 \u0938\u093e\u0925\u0948, \u0928\u094d\u092f\u093e\u0930\u094b-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f\u092e\u093e, \u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u090f\u0915\u093e \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0938\u0902\u0916\u094d\u092f\u093e \u092e\u093e\u0924\u094d\u0930 &#8220;\u091c\u093e\u0930\u0940 \u0917\u0930\u093f\u090f\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0938\u0902\u0916\u094d\u092f\u093e&#8221; \u092e\u093e\u0928\u094d\u0928 \u0938\u0915\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<p>\u0935\u093e\u0938\u094d\u0924\u0935\u092e\u093e, \u0924\u0940\u0928 \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u091c\u093e\u0930\u0940 \u0917\u0930\u094d\u0928\u0947 \u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0932\u0947 \u0928\u092f\u093e\u0901 B \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u091c\u093e\u0930\u0940 \u0917\u0930\u094d\u0926\u093e, \u092c\u094d\u0930\u0949\u0921-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f \u0930 \u0928\u094d\u092f\u093e\u0930\u094b-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f\u092c\u093e\u091f \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f\u0915\u094b \u092d\u093f\u0928\u094d\u0928\u0924\u093e \u0939\u0947\u0930\u094c\u0902\u0964<\/p>\n\n\n\n<ul>\n<li>\u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u300010,000 \u0936\u0947\u092f\u0930<\/li>\n\n\n\n<li>A \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u3000\u3000\u3000\u3000\u3000      3,000 \u0936\u0947\u092f\u0930\uff08\uff2010 \u0932\u093e\u0916 \u092f\u0947\u0928\uff1d\u092a\u0941\u0930\u093e\u0928\u094b \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f\uff09<\/li>\n\n\n\n<li>\u0938\u094d\u091f\u0915 \u0905\u092a\u094d\u0936\u0928 \u3000\u3000\u30002,000 \u0936\u0947\u092f\u0930<\/li>\n\n\n\n<li>\u091c\u093e\u0930\u0940 \u0917\u0930\u094d\u0928 \u0932\u093e\u0917\u093f\u090f\u0915\u094b B \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942      4,000 \u0936\u0947\u092f\u0930\uff08\uff205 \u0932\u093e\u0916 \u092f\u0947\u0928\uff1d\u091c\u093e\u0930\u0940 \u092e\u0942\u0932\u094d\u092f\uff09<\/li>\n<\/ul>\n\n\n\n<p>\u3010\u092c\u094d\u0930\u0949\u0921-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f\u092c\u093e\u091f \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f \u0917\u0923\u0928\u093e\u3011<\/p>\n\n\n\n<p>\u0928\u092f\u093e\u0901 \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f\uff1d10 \u0932\u093e\u0916 \u092f\u0947\u0928 \u00d7\uff3b\uff5b( 10,000 \uff0b 3,000 \uff0b 2,000 ) \uff0b\uff08 4,000 \u00d7 5 \u0932\u093e\u0916 \u092f\u0947\u0928 \uff09\u00f7 10 \u0932\u093e\u0916 \u092f\u0947\u0928 \uff5d\u00f7 \uff5b\uff08 10,000 \uff0b 3,000 \uff0b 2,000 ) \uff0b 4,000 \uff09\uff3d= 8 \u0932\u093e\u0916 9,474 \u092f\u0947\u0928<br>\uff08\u203b1 \u092f\u0947\u0928\u092d\u0928\u094d\u0926\u093e \u0915\u092e\u0915\u094b \u092d\u093f\u0928\u094d\u0928\u093e\u0902\u0936\u0932\u093e\u0908 \u0926\u0936\u092e\u0932\u0935\u0915\u094b \u092a\u0939\u093f\u0932\u094b \u0938\u094d\u0925\u093e\u0928\u092e\u093e \u0917\u094b\u0932 \u0917\u0930\u093f\u0928\u094d\u091b, \u0924\u0932 \u092a\u0928\u093f \u0909\u0938\u094d\u0924\u0948\uff09<\/p>\n\n\n\n<p>\u3010\u0928\u094d\u092f\u093e\u0930\u094b-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f\u092c\u093e\u091f \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f \u0917\u0923\u0928\u093e\u3011<\/p>\n\n\n\n<p>\u0928\u092f\u093e\u0901 \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u092e\u0942\u0932\u094d\u092f\uff1d10 \u0932\u093e\u0916 \u092f\u0947\u0928 \u00d7\uff3b\uff5b( 10,000 \uff0b 3,000 ) \uff0b\uff08 4,000 \u00d7 5 \u0932\u093e\u0916 \u092f\u0947\u0928 \uff09\u00f7 10 \u0932\u093e\u0916 \u092f\u0947\u0928 \uff5d\u00f7 \uff5b\uff08 10,000 \uff0b 3,000 ) \uff0b 4,000 \uff09\uff3d= 8 \u0932\u093e\u0916 8,235 \u092f\u0947\u0928<\/p>\n\n\n\n<p>\u0917\u0923\u0928\u093e\u0915\u094b \u092a\u0930\u093f\u0923\u093e\u092e \u0905\u0928\u0941\u0938\u093e\u0930, \u092e\u093e\u0925\u093f\u0915\u094b \u0915\u0947\u0938\u092e\u093e \u0928\u094d\u092f\u093e\u0930\u094b-\u092c\u0947\u0938 \u0935\u093f\u0927\u093f A \u092a\u094d\u0930\u0915\u093e\u0930\u0915\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915\u0924\u093e \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0939\u0930\u0942\u0915\u093e \u0932\u093e\u0917\u093f 1,239 \u092f\u0947\u0928 \u0938\u0938\u094d\u0924\u094b\u092e\u093e \u0938\u093e\u0927\u093e\u0930\u0923 \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0917\u0930\u094d\u0928 \u0932\u093e\u092d\u0926\u093e\u092f\u0915 \u0939\u0941\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%AA%E0%A4%B0%E0%A4%BF%E0%A4%B5%E0%A4%B0%E0%A5%8D%E0%A4%A4%E0%A4%A8_%E0%A4%AE%E0%A5%82%E0%A4%B2%E0%A5%8D%E0%A4%AF%E0%A4%95%E0%A5%8B_%E0%A4%B8%E0%A4%AE%E0%A4%BE%E0%A4%AF%E0%A5%8B%E0%A4%9C%E0%A4%A8_%E0%A4%A8%E0%A4%97%E0%A4%B0%E0%A5%8D%E0%A4%A8%E0%A5%87_%E0%A4%85%E0%A4%B5%E0%A4%B8%E0%A5%8D%E0%A4%A5%E0%A4%BE%E0%A4%AE%E0%A4%BE\"><\/span>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u0942\u0932\u094d\u092f\u0915\u094b \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0928\u0917\u0930\u094d\u0928\u0947 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" src=\"https:\/\/monolith-law.jp\/wp-content\/uploads\/2022\/07\/investment-contract-convertible-bill2.png\" alt=\"\u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0928\u0917\u0930\u094d\u0928\u0947 \u0935\u094d\u092f\u0915\u094d\u0924\u093f\u0915\u094b \u091b\u0935\u093f\" class=\"wp-image-47003\" \/><\/figure><\/div>\n\n\n<p>\u091c\u093e\u092a\u093e\u0928\u0940 \u0932\u0917\u093e\u0928\u0940 \u0938\u092e\u094d\u091d\u094c\u0924\u093e\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u0942\u0932\u094d\u092f\u0915\u094b \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0917\u0930\u094d\u0928\u0947 \u0915\u0941\u0930\u093e \u0938\u093e\u092e\u093e\u0928\u094d\u092f\u0924\u092f\u093e \u0909\u0932\u094d\u0932\u0947\u0916 \u0917\u0930\u093f\u0928\u094d\u091b, \u0924\u0930 \u0928\u093f\u092e\u094d\u0928 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e \u0905\u092a\u0935\u093e\u0926\u0938\u094d\u0935\u0930\u0942\u092a \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u092e\u0942\u0932\u094d\u092f\u0915\u094b \u0938\u092e\u093e\u092f\u094b\u091c\u0928 \u0928\u0917\u0930\u094d\u0928\u0947 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\u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u0905\u0928\u0941\u0930\u094b\u0927 \u0905\u0927\u093f\u0915\u093e\u0930\u0915\u094b \u092a\u094d\u0930\u092f\u094b\u0917 \u0917\u0930\u094d\u0928\u0947 \u0918\u091f\u0928\u093e\u0938\u0901\u0917 \u092e\u093f\u0932\u094d\u0926\u094b\u091c\u0941\u0932\u094d\u0926\u094b, \u091c\u092c \u0915\u0941\u0928\u0948 \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u094b \u0906\u0930\u094d\u0925\u093f\u0915 \u0938\u094d\u0925\u093f\u0924\u093f \u092c\u093f\u0917\u094d\u0930\u0928\u094d\u091b, \u0928\u092f\u093e\u0901 \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0932\u0947 \u0909\u0926\u094d\u0927\u093e\u0930\u0915\u094b \u0930\u0942\u092a\u092e\u093e \u0932\u0917\u093e\u0928\u0940 \u0917\u0930\u094d\u0928\u0947 \u0936\u0930\u094d\u0924\u092e\u093e, \u0935\u093f\u0926\u094d\u092f\u092e\u093e\u0928 \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0927\u093e\u0930\u0915\u0932\u0947 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class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a\u0915\u094b \u091c\u093e\u092a\u093e\u0928\u0940 \u0932\u0917\u093e\u0928\u0940 \u0938\u092e\u094d\u091d\u094c\u0924\u093e\u092e\u093e \u0928\u093f\u0930\u094d\u0926\u093f\u0937\u094d\u091f \u0917\u0930\u093f\u090f\u0915\u094b \u0930\u0942\u092a\u093e\u0928\u094d\u0924\u0930\u0923 \u0926\u093e\u092c\u0940 \u0905\u0927\u093f\u0915\u093e\u0930 \u0927\u093e\u0930\u093e \u092e\u0941\u0916\u094d\u092f\u0924\u092f\u093e \u0921\u093e\u0909\u0928\u0930\u093e\u0909\u0928\u094d\u0921\u092e\u093e \u092a\u094d\u0930\u093e\u0925\u092e\u093f\u0915 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u092a\u0924\u0928 \u0930\u094b\u0915\u0925\u093e\u092e \u091c\u0938\u094d\u0924\u093e \u0935\u093f\u0937\u092f\u0939\u0930\u0942\u092e\u093e \u0915\u0947\u0928\u094d\u0926\u094d\u0930\u093f\u0924 \u0939\u0941\u0928\u094d\u091b, \u0924\u0930 \u092f\u0938\u092e\u093e 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\u0917\u0930\u093f\u090f\u0915\u094b &#8220;\u0936\u0947\u092f\u0930 \u0938\u092e\u094d\u092c\u0928\u094d\u0927\u0940 \u0927\u093e\u0930\u093e&#8221; \u0915\u094b \u092c\u093e\u0930\u0947\u092e\u093e \u0935\u093f\u0938\u094d\u0924\u0943\u0924 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u091a\u093e\u0939\u0928\u0941\u0939\u0941\u0928\u094d\u091b \u092d\u0928\u0947, \u0924\u0932\u0915\u094b \u0932\u0947\u0916\u092e\u093e \u0935\u093f\u0938\u094d\u0924\u0943\u0924 \u0930\u0942\u092a\u092e\u093e \u0935\u0930\u094d\u0923\u0928 \u0917\u0930\u093f\u090f\u0915\u094b \u091b, \u0915\u0943\u092a\u092f\u093e \u092f\u0938 \u0932\u0947\u0916\u0938\u0901\u0917\u0948 \u0939\u0947\u0930\u094d\u0928\u0941\u0939\u094b\u0938\u094d\u0964<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/investment-contract-shares-provision\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/investment-contract-shares-provision[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%B9%E0%A4%BE%E0%A4%AE%E0%A5%8D%E0%A4%B0%E0%A5%8B_%E0%A4%AB%E0%A4%B0%E0%A5%8D%E0%A4%AE%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%A6%E0%A4%BE%E0%A4%A8_%E0%A4%97%E0%A4%B0%E0%A4%BF%E0%A4%A8%E0%A5%87_%E0%A4%89%E0%A4%AA%E0%A4%BE%E0%A4%AF%E0%A4%B9%E0%A4%B0%E0%A5%82%E0%A4%95%E0%A5%8B_%E0%A4%9C%E0%A4%BE%E0%A4%A8%E0%A4%95%E0%A4%BE%E0%A4%B0%E0%A5%80\"><\/span>\u0939\u093e\u092e\u094d\u0930\u094b \u092b\u0930\u094d\u092e\u0926\u094d\u0935\u093e\u0930\u093e \u092a\u094d\u0930\u0926\u093e\u0928 \u0917\u0930\u093f\u0928\u0947 \u0909\u092a\u093e\u092f\u0939\u0930\u0942\u0915\u094b \u091c\u093e\u0928\u0915\u093e\u0930\u0940<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u092e\u094b\u0928\u094b\u0932\u093f\u0925 \u0915\u093e\u0928\u0942\u0928\u0940 \u092b\u0930\u094d\u092e \u090f\u0915 \u092f\u0938\u094d\u0924\u094b \u0915\u093e\u0928\u0942\u0928\u0940 \u092b\u0930\u094d\u092e \u0939\u094b \u091c\u0938\u0932\u0947 IT, \u0935\u093f\u0936\u0947\u0937 \u0917\u0930\u0940 \u0907\u0928\u094d\u091f\u0930\u0928\u0947\u091f \u0930 \u0915\u093e\u0928\u0942\u0928\u0940 \u0915\u094d\u0937\u0947\u0924\u094d\u0930\u0915\u094b \u0926\u0941\u0935\u0948 \u092a\u0915\u094d\u0937\u092e\u093e \u0909\u091a\u094d\u091a \u0935\u093f\u0936\u0947\u0937\u091c\u094d\u091e\u0924\u093e \u0930\u093e\u0916\u094d\u0926\u091b\u0964 \u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0932\u0917\u093e\u0928\u0940 \u0938\u092e\u094d\u091d\u094c\u0924\u093e\u0939\u0930\u0942\u0915\u094b \u0932\u093e\u0917\u093f \u0938\u092e\u094d\u091d\u094c\u0924\u093e \u092a\u0924\u094d\u0930\u0915\u094b \u0924\u092f\u093e\u0930\u0940 \u0906\u0935\u0936\u094d\u092f\u0915 \u0939\u0941\u0928\u094d\u091b\u0964 \u0939\u093e\u092e\u094d\u0930\u094b \u092b\u0930\u094d\u092e\u0932\u0947 \u091c\u093e\u092a\u093e\u0928\u092e\u093e \u091f\u094b\u0915\u094d\u092f\u094b \u0938\u094d\u091f\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u0928\u094d\u091c \u092a\u094d\u0930\u093e\u0907\u092e \u0938\u0942\u091a\u0940\u092c\u0926\u094d\u0927 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0926\u0947\u0916\u093f \u0932\u093f\u090f\u0930 \u0938\u094d\u091f\u093e\u0930\u094d\u091f\u0905\u092a \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0938\u092e\u094d\u092e\u0915\u093e \u0935\u093f\u092d\u093f\u0928\u094d\u0928 \u092a\u0930\u093f\u092f\u094b\u091c\u0928\u093e\u0939\u0930\u0942\u0915\u094b \u0932\u093e\u0917\u093f \u0938\u092e\u094d\u091d\u094c\u0924\u093e \u092a\u0924\u094d\u0930\u0915\u094b \u0924\u092f\u093e\u0930\u0940 \u0930 \u0938\u092e\u0940\u0915\u094d\u0937\u093e \u0917\u0930\u094d\u0926\u091b\u0964 \u092f\u0926\u093f \u0924\u092a\u093e\u0908\u0902 \u0938\u092e\u094d\u091d\u094c\u0924\u093e \u092a\u0924\u094d\u0930\u0915\u094b \u092c\u093e\u0930\u0947\u092e\u093e \u0938\u092e\u0938\u094d\u092f\u093e\u092e\u093e \u0939\u0941\u0928\u0941\u0939\u0941\u0928\u094d\u091b \u092d\u0928\u0947, \u0915\u0943\u092a\u092f\u093e \u0924\u0932\u0915\u094b \u0932\u0947\u0916\u0932\u093e\u0908 \u0939\u0947\u0930\u094d\u0928\u0941\u0939\u094b\u0938\u094d\u0964<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/contractcreation\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/contractcreation[ja]<\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u300c\u0932\u0917\u093e\u0928\u0940 \u0938\u092e\u094d\u091d\u094c\u0924\u093e\u300d\u3068\u306f\u3001\u4f01\u696d\u304c\u6295\u8cc7\u3092\u53d7\u3051\u308b\u969b\u306b\u3001\u6295\u8cc7\u5bb6\u3068\u306e\u9593\u3067\u7de0\u7d50\u3059\u308b\u5951\u7d04\u3067\u3059\u3002\u6295\u8cc7\u5951\u7d04\u306b\u306f\u3001\u682a\u5f0f\u306e\u6570\u91cf\u30fb\u4fa1\u984d\u3084\u6255\u8fbc\u6761\u4ef6\u306a\u3069\u306e\u4ed6\u306b\u3082\u3055\u307e\u3056\u307e\u306a\u5185\u5bb9\u304c\u542b\u307e\u308c\u3066\u3044\u307e\u3059\u3002 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[&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":68917,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[25,24],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/posts\/67010"}],"collection":[{"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/comments?post=67010"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/posts\/67010\/revisions"}],"predecessor-version":[{"id":68918,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/posts\/67010\/revisions\/68918"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/media\/68917"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/media?parent=67010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/categories?post=67010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/tags?post=67010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}