{"id":67381,"date":"2025-06-13T18:39:50","date_gmt":"2025-06-13T09:39:50","guid":{"rendered":"https:\/\/monolith.law\/ne\/?p=67381"},"modified":"2025-06-22T13:42:29","modified_gmt":"2025-06-22T04:42:29","slug":"exit-by-ipo-m-and-a","status":"publish","type":"post","link":"https:\/\/monolith.law\/ne\/general-corporate\/exit-by-ipo-m-and-a","title":{"rendered":"\u0906\u0908\u092a\u0940\u0913 \u0930 \u090f\u092e&amp;\u090f \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u093e \u0935\u093f\u0927\u093f\u0939\u0930\u0942"},"content":{"rendered":"\n<p>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915\u0939\u0930\u0942 \u0930 \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u092e\u093e \u0932\u0917\u093e\u0928\u0940 \u0917\u0930\u094d\u0928\u0947 \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942 \u0926\u0941\u0935\u0948 \u091c\u0928\u093e \u092b\u093e\u0907\u0926\u093e \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0917\u0930\u094d\u0928\u0947 \u0909\u0926\u094d\u0926\u0947\u0936\u094d\u092f\u0932\u0947 \u0915\u093e\u0930\u094d\u092f \u0917\u0930\u094d\u0926\u091b\u0928\u094d\u0964 \u0924\u0930, \u092b\u093e\u0907\u0926\u093e \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0917\u0930\u094d\u0928\u0941 \u092d\u0928\u0947\u0915\u094b \u090f\u0909\u091f\u093e \u092e\u093e\u0924\u094d\u0930 \u0924\u0930\u093f\u0915\u093e \u0939\u094b\u0907\u0928, \u0935\u093f\u092d\u093f\u0928\u094d\u0928 \u0924\u0930\u093f\u0915\u093e\u0939\u0930\u0942 \u091b\u0928\u094d\u0964 \u0924\u094d\u092f\u0938\u0948\u0932\u0947, \u092f\u0938 \u0932\u0947\u0916\u092e\u093e, \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915\u0939\u0930\u0942 \u0930 \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0932\u0947 \u092b\u093e\u0907\u0926\u093e \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0917\u0930\u094d\u0928\u0947 \u092a\u094d\u0930\u092e\u0941\u0916 \u0924\u0930\u093f\u0915\u093e\u0939\u0930\u0942\u092e\u0927\u094d\u092f\u0947 IPO \u0930 M&amp;A \u092e\u093e\u0930\u094d\u092b\u0924 EXIT \u0917\u0930\u094d\u0928\u0947 \u0924\u0930\u093f\u0915\u093e\u0939\u0930\u0942\u0915\u094b \u0935\u0930\u094d\u0923\u0928 \u0917\u0930\u093f\u0928\u0947\u091b\u0964<\/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\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#EXIT_%E0%A4%95%E0%A5%8B_%E0%A4%85%E0%A4%B0%E0%A5%8D%E0%A4%A5_%E0%A4%95%E0%A5%87_%E0%A4%B9%E0%A5%8B\" title=\"EXIT \u0915\u094b \u0905\u0930\u094d\u0925 \u0915\u0947 \u0939\u094b?\">EXIT \u0915\u094b \u0905\u0930\u094d\u0925 \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\/exit-by-ipo-m-and-a\/#%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_EXIT_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A4%BF%E0%A4%AF%E0%A4%BE\" title=\"\u091c\u093e\u092a\u093e\u0928\u092e\u093e EXIT \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e\">\u091c\u093e\u092a\u093e\u0928\u092e\u093e EXIT \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e<\/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\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%86%E0%A4%88%E0%A4%AA%E0%A5%80%E0%A4%93_IPO_%E0%A4%AE%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%AB%E0%A4%A4_%E0%A4%8F%E0%A4%95%E0%A5%8D%E0%A4%9C%E0%A4%BF%E0%A4%9F\" title=\"\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 (IPO) \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\">\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 (IPO) \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f<\/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\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#%E0%A4%86%E0%A4%88%E0%A4%AA%E0%A5%80%E0%A4%93_IPO_%E0%A4%AD%E0%A4%A8%E0%A5%87%E0%A4%95%E0%A5%8B_%E0%A4%95%E0%A5%87_%E0%A4%B9%E0%A5%8B\" title=\"\u0906\u0908\u092a\u0940\u0913 (IPO) \u092d\u0928\u0947\u0915\u094b \u0915\u0947 \u0939\u094b?\">\u0906\u0908\u092a\u0940\u0913 (IPO) \u092d\u0928\u0947\u0915\u094b \u0915\u0947 \u0939\u094b?<\/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\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%86%E0%A4%88%E0%A4%AA%E0%A5%80%E0%A4%93_%E0%A4%AE%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%AB%E0%A4%A4_%E0%A4%8F%E0%A4%95%E0%A5%8D%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%95%E0%A5%8B_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A4%BF%E0%A4%AF%E0%A4%BE\" title=\"\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u094b \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e\">\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u094b \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e<\/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\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%86%E0%A4%88%E0%A4%AA%E0%A5%80%E0%A4%93_%E0%A4%AE%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%AB%E0%A4%A4_%E0%A4%8F%E0%A4%95%E0%A5%8D%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%95%E0%A4%BE_%E0%A4%AB%E0%A4%BE%E0%A4%87%E0%A4%A6%E0%A4%BE%E0%A4%B9%E0%A4%B0%E0%A5%82\" title=\"\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u093e \u092b\u093e\u0907\u0926\u093e\u0939\u0930\u0942\">\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u093e \u092b\u093e\u0907\u0926\u093e\u0939\u0930\u0942<\/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\/exit-by-ipo-m-and-a\/#%E0%A4%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%86%E0%A4%88%E0%A4%AA%E0%A5%80%E0%A4%93_%E0%A4%AE%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%AB%E0%A4%A4_%E0%A4%8F%E0%A4%95%E0%A5%8D%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%95%E0%A4%BE_%E0%A4%A6%E0%A5%81%E0%A4%B7%E0%A5%8D%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%AD%E0%A4%BE%E0%A4%B5%E0%A4%B9%E0%A4%B0%E0%A5%82\" title=\"\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u093e \u0926\u0941\u0937\u094d\u092a\u094d\u0930\u092d\u093e\u0935\u0939\u0930\u0942\">\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u093e \u0926\u0941\u0937\u094d\u092a\u094d\u0930\u092d\u093e\u0935\u0939\u0930\u0942<\/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\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#M_A_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_EXIT\" title=\"M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT\">M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT<\/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\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#M_A_%E0%A4%AD%E0%A4%A8%E0%A5%87%E0%A4%95%E0%A5%8B_%E0%A4%95%E0%A5%87_%E0%A4%B9%E0%A5%8B\" title=\"M&amp;A \u092d\u0928\u0947\u0915\u094b \u0915\u0947 \u0939\u094b?\">M&amp;A \u092d\u0928\u0947\u0915\u094b \u0915\u0947 \u0939\u094b?<\/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\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#M_A_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_EXIT_%E0%A4%95%E0%A5%8B_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%A3%E0%A4%BE%E0%A4%B2%E0%A5%80\" title=\"M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u094b \u092a\u094d\u0930\u0923\u093e\u0932\u0940\">M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u094b \u092a\u094d\u0930\u0923\u093e\u0932\u0940<\/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\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#M_A_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_EXIT_%E0%A4%95%E0%A4%BE_%E0%A4%AB%E0%A4%BE%E0%A4%87%E0%A4%A6%E0%A4%BE%E0%A4%B9%E0%A4%B0%E0%A5%82\" title=\"M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u093e \u092b\u093e\u0907\u0926\u093e\u0939\u0930\u0942\">M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u093e \u092b\u093e\u0907\u0926\u093e\u0939\u0930\u0942<\/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\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#M_A_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_EXIT_%E0%A4%95%E0%A4%BE_%E0%A4%A6%E0%A5%8B%E0%A4%B7%E0%A4%B9%E0%A4%B0%E0%A5%82\" title=\"M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u093e \u0926\u094b\u0937\u0939\u0930\u0942\">M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u093e \u0926\u094b\u0937\u0939\u0930\u0942<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/ne\/general-corporate\/exit-by-ipo-m-and-a\/#%E0%A4%B8%E0%A4%BE%E0%A4%B0%E0%A4%BE%E0%A4%82%E0%A4%B6\" title=\"\u0938\u093e\u0930\u093e\u0902\u0936\">\u0938\u093e\u0930\u093e\u0902\u0936<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"EXIT_%E0%A4%95%E0%A5%8B_%E0%A4%85%E0%A4%B0%E0%A5%8D%E0%A4%A5_%E0%A4%95%E0%A5%87_%E0%A4%B9%E0%A5%8B\"><\/span>EXIT \u0915\u094b \u0905\u0930\u094d\u0925 \u0915\u0947 \u0939\u094b?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u091c\u093e\u092a\u093e\u0928\u092e\u093e, EXIT \u092d\u0928\u094d\u0928\u093e\u0932\u0947 \u092d\u0947\u0928\u094d\u091a\u0930 \u0935\u094d\u092f\u0935\u0938\u093e\u092f \u0930 \u0915\u092e\u094d\u092a\u0928\u0940 \u092a\u0941\u0928\u0930\u094d\u0938\u0902\u0930\u091a\u0928\u093e\u092e\u093e \u092a\u094d\u0930\u092f\u094b\u0917 \u0917\u0930\u093f\u0928\u0947 \u090f\u0915 \u0905\u0935\u0927\u093e\u0930\u0923\u093e \u0939\u094b, \u091c\u0938\u092e\u093e \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915\u0939\u0930\u0942, \u0932\u0917\u093e\u0928\u0940 \u0915\u094b\u0937 \u0930 VC\u0939\u0930\u0942 \u091c\u0938\u094d\u0924\u093e \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0932\u0947 \u0936\u0947\u092f\u0930 \u092c\u093f\u0915\u094d\u0930\u0940 \u0935\u093e M&amp;A \u092e\u093e\u0930\u094d\u092b\u0924 \u0932\u0917\u093e\u0928\u0940 \u0917\u0930\u093f\u090f\u0915\u094b \u092a\u0942\u0901\u091c\u0940 \u092b\u093f\u0930\u094d\u0924\u093e \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0917\u0930\u094d\u0928\u0947 \u0930 \u0924\u094d\u092f\u0938\u0948\u0917\u0930\u0940 \u0932\u093e\u092d \u0915\u092e\u093e\u0909\u0928\u0947 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0939\u094b\u0964 \u0938\u0930\u0932 \u0936\u092c\u094d\u0926\u092e\u093e \u092d\u0928\u094d\u0928\u0941\u092a\u0930\u094d\u0926\u093e, \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915 \u0930 \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0932\u0947 \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u092e\u093e \u0932\u0917\u093e\u0928\u0940 \u0917\u0930\u0947\u0930 \u0932\u093e\u092d \u0915\u092e\u093e\u0909\u0928\u0947 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e \u0939\u094b\u0964 \u092f\u0938\u0915\u094b \u0905\u0930\u094d\u0915\u094b \u0928\u093e\u092e \u0939\u093e\u0930\u094d\u092d\u0947\u0938\u094d\u091f\u093f\u0919 (Harvesting) \u092a\u0928\u093f \u0939\u094b, \u091c\u0941\u0928 &#8216;\u0938\u0902\u0915\u0932\u0928&#8217; \u092d\u0928\u094d\u0928\u0947 \u0905\u0930\u094d\u0925 \u092c\u094b\u0915\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_EXIT_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A4%BF%E0%A4%AF%E0%A4%BE\"><\/span>\u091c\u093e\u092a\u093e\u0928\u092e\u093e EXIT \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u091c\u093e\u092a\u093e\u0928\u092e\u093e EXIT \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e\u0915\u093e \u0932\u093e\u0917\u093f \u092e\u0941\u0916\u094d\u092f \u0930\u0942\u092a\u092e\u093e \u0926\u0941\u0908 \u0935\u093f\u0927\u093f \u0905\u092a\u0928\u093e\u0907\u0928\u094d\u091b:<\/p>\n\n\n\n<ul>\n<li>\u0936\u0947\u092f\u0930 \u092c\u091c\u093e\u0930\u092e\u093e \u0938\u0942\u091a\u0940\u0915\u0930\u0923 (IPO) \u092e\u093e\u0930\u094d\u092b\u0924 EXIT<\/li>\n\n\n\n<li>M&amp;A \u092e\u093e\u0930\u094d\u092b\u0924 EXIT<\/li>\n<\/ul>\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%86%E0%A4%88%E0%A4%AA%E0%A5%80%E0%A4%93_IPO_%E0%A4%AE%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%AB%E0%A4%A4_%E0%A4%8F%E0%A4%95%E0%A5%8D%E0%A4%9C%E0%A4%BF%E0%A4%9F\"><\/span>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 (IPO) \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u092a\u0939\u093f\u0932\u094b \u0935\u093f\u0915\u0932\u094d\u092a\u0915\u094b \u0930\u0942\u092a\u092e\u093e, \u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f \u0917\u0930\u094d\u0928 \u0938\u0915\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%86%E0%A4%88%E0%A4%AA%E0%A5%80%E0%A4%93_IPO_%E0%A4%AD%E0%A4%A8%E0%A5%87%E0%A4%95%E0%A5%8B_%E0%A4%95%E0%A5%87_%E0%A4%B9%E0%A5%8B\"><\/span>\u0906\u0908\u092a\u0940\u0913 (IPO) \u092d\u0928\u0947\u0915\u094b \u0915\u0947 \u0939\u094b?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith-law.jp\/wp-content\/uploads\/2020\/02\/shutterstock_318368702-1024x683.jpg\" alt=\"\" class=\"wp-image-7173\" \/><figcaption class=\"wp-element-caption\">\u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u094b \u092c\u093e\u0930\u0947\u092e\u093e \u0935\u093f\u0938\u094d\u0924\u0943\u0924 \u091c\u093e\u0928\u0915\u093e\u0930\u0940\u0964<\/figcaption><\/figure>\n\n\n\n<p>\u0906\u0908\u092a\u0940\u0913, \u091c\u0941\u0928 initial public offering \u0915\u094b \u091b\u094b\u091f\u0915\u0930\u0940 \u0939\u094b, \u092f\u0938\u0932\u093e\u0908 \u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0938\u094d\u091f\u0915 \u0932\u093f\u0938\u094d\u091f\u093f\u0919, \u092a\u092c\u094d\u0932\u093f\u0915 \u0907\u0936\u094d\u092f\u0942, \u0935\u093e \u0928\u092f\u093e\u0901 \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915 \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0915\u094b \u0930\u0942\u092a\u092e\u093e \u091a\u093f\u0928\u093f\u0928\u094d\u091b\u0964 \u092f\u0938\u092e\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0932\u093e\u0908 \u0938\u094d\u091f\u0915 \u090f\u0915\u094d\u0938\u091a\u0947\u091e\u094d\u091c\u092e\u093e \u0932\u093f\u0938\u094d\u091f \u0917\u0930\u093f\u0928\u094d\u091b \u0930 \u0938\u093e\u0930\u094d\u0935\u091c\u0928\u093f\u0915 \u0930\u0942\u092a\u092e\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u092a\u094d\u0930\u0938\u094d\u0924\u0941\u0924 \u0917\u0930\u093f\u0928\u094d\u091b, \u091c\u0938\u0932\u0947 \u0917\u0930\u094d\u0926\u093e \u0915\u0938\u0948\u0932\u0947 \u092a\u0928\u093f \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0916\u0930\u0940\u0926 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u091b\u0964<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/blockchain\/comparison-ico-ipo\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/blockchain\/comparison-ico-ipo[ja]<\/a><\/p>\n\n\n\n<h3 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%86%E0%A4%88%E0%A4%AA%E0%A5%80%E0%A4%93_%E0%A4%AE%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%AB%E0%A4%A4_%E0%A4%8F%E0%A4%95%E0%A5%8D%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%95%E0%A5%8B_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%95%E0%A5%8D%E0%A4%B0%E0%A4%BF%E0%A4%AF%E0%A4%BE\"><\/span>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u094b \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0938\u0941\u0930\u0941\u092e\u093e, \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915\u0939\u0930\u0942\u0915\u094b \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923\u092c\u093e\u091f \u0939\u0947\u0930\u094d\u0926\u093e, \u0909\u0928\u0940\u0939\u0930\u0942\u0932\u0947 \u0938\u093e\u092e\u093e\u0928\u094d\u092f\u0924\u092f\u093e \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u093e \u0927\u0947\u0930\u0948 \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0927\u093e\u0930\u0923 \u0917\u0930\u094d\u0926\u091b\u0928\u094d\u0964 \u0906\u0908\u092a\u0940\u0913 \u0917\u0930\u094d\u0926\u093e, \u0936\u0947\u092f\u0930\u0915\u094b \u092e\u0942\u0932\u094d\u092f \u090f\u0915\u093e\u090f\u0915 \u092c\u0922\u094d\u0928\u0947 \u0917\u0930\u094d\u0926\u091b\u0964 \u092f\u0938\u094b \u0939\u0941\u0901\u0926\u093e, \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915\u0939\u0930\u0942\u0932\u0947 \u0906\u092b\u094d\u0928\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0932\u093e\u0908 \u0906\u0908\u092a\u0940\u0913 \u092a\u091b\u093f\u0915\u094b \u0909\u091a\u094d\u091a \u092e\u0942\u0932\u094d\u092f\u092e\u093e \u092c\u0947\u091a\u0947\u0930 \u0932\u093e\u092d \u0915\u092e\u093e\u0909\u0928 \u0938\u0915\u094d\u091b\u0928\u094d\u0964 \u0905\u0930\u094d\u0915\u094b\u0924\u0930\u094d\u092b, \u092d\u0940\u0938\u0940 \u091c\u0938\u094d\u0924\u093e \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0915\u094b \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923\u092c\u093e\u091f \u0939\u0947\u0930\u094d\u0926\u093e, \u0909\u0928\u0940\u0939\u0930\u0942\u0932\u0947 \u092a\u0939\u093f\u0932\u0947 \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u094b \u0935\u094d\u092f\u093e\u0935\u0938\u093e\u092f\u093f\u0915 \u0938\u093e\u092e\u0917\u094d\u0930\u0940 \u0930 \u092d\u0935\u093f\u0937\u094d\u092f\u092e\u093e \u0935\u0943\u0926\u094d\u0927\u093f \u0939\u0941\u0928\u0947 \u0938\u092e\u094d\u092d\u093e\u0935\u0928\u093e\u0932\u093e\u0908 \u0906\u0927\u093e\u0930 \u092e\u093e\u0928\u0947\u0930 \u0928\u093f\u0930\u094d\u0923\u092f \u0917\u0930\u094d\u091b\u0928\u094d\u0964 \u092f\u0926\u093f \u092d\u0935\u093f\u0937\u094d\u092f\u092e\u093e \u0935\u0943\u0926\u094d\u0927\u093f \u0939\u0941\u0928\u0947 \u0938\u092e\u094d\u092d\u093e\u0935\u0928\u093e \u0926\u0947\u0916\u093f\u0928\u094d\u091b \u092d\u0928\u0947, \u0909\u0928\u0940\u0939\u0930\u0942\u0932\u0947 \u0924\u094d\u092f\u0938 \u0915\u092e\u094d\u092a\u0928\u0940\u092e\u093e \u0932\u0917\u093e\u0928\u0940 \u0917\u0930\u094d\u091b\u0928\u094d \u0930 \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0916\u0930\u0940\u0926 \u0917\u0930\u094d\u091b\u0928\u094d\u0964 \u092f\u0938 \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e\u092e\u093e, \u0915\u092e\u094d\u092a\u0928\u0940 \u0905\u091d\u0948 \u0935\u093f\u0915\u093e\u0938\u0915\u094b \u091a\u0930\u0923\u092e\u093e \u0939\u0941\u0901\u0926\u093e, \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0932\u0947 \u0924\u0941\u0932\u0928\u093e\u0924\u094d\u092e\u0915 \u0930\u0942\u092a\u092e\u093e \u0915\u092e \u092e\u0942\u0932\u094d\u092f\u092e\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0916\u0930\u0940\u0926 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u091b\u0928\u094d\u0964 \u0930, \u0915\u0939\u093f\u0932\u0947\u0915\u093e\u0939\u0940\u0901, \u0909\u0928\u0940\u0939\u0930\u0942\u0932\u0947 \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u094b \u092a\u094d\u0930\u092c\u0928\u094d\u0927\u0928 \u091f\u094b\u0932\u0940\u0932\u093e\u0908 \u0938\u0932\u094d\u0932\u093e\u0939 \u0935\u093e \u0938\u092e\u0930\u094d\u0925\u0928 \u092a\u094d\u0930\u0926\u093e\u0928 \u0917\u0930\u0947\u0930 \u0906\u0908\u092a\u0940\u0913\u0915\u094b \u0932\u0915\u094d\u0937\u094d\u092f \u092a\u094d\u0930\u093e\u092a\u094d\u0924\u093f \u0938\u0939\u092f\u094b\u0917 \u0917\u0930\u094d\u091b\u0928\u094d\u0964 \u092f\u0938\u0930\u0940, \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0932\u0947 \u0906\u0908\u092a\u0940\u0913 \u0905\u0918\u093f \u0916\u0930\u0940\u0926 \u0917\u0930\u0947\u0915\u093e \u0936\u0947\u092f\u0930\u0939\u0930\u0942\u0932\u093e\u0908 \u0906\u0908\u092a\u0940\u0913 \u092a\u091b\u093f\u0915\u094b \u0909\u091a\u094d\u091a \u092e\u0942\u0932\u094d\u092f\u092e\u093e \u092c\u0947\u091a\u0947\u0930 \u0932\u093e\u092d \u0915\u092e\u093e\u0909\u0928 \u0938\u0915\u094d\u091b\u0928\u094d\u0964 \u092f\u0938\u094d\u0924\u094b \u092a\u094d\u0930\u0915\u094d\u0930\u093f\u092f\u093e\u092c\u093e\u091f, \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f \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%9C%E0%A4%BE%E0%A4%AA%E0%A4%BE%E0%A4%A8%E0%A4%AE%E0%A4%BE_%E0%A4%86%E0%A4%88%E0%A4%AA%E0%A5%80%E0%A4%93_%E0%A4%AE%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%AB%E0%A4%A4_%E0%A4%8F%E0%A4%95%E0%A5%8D%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%95%E0%A4%BE_%E0%A4%AB%E0%A4%BE%E0%A4%87%E0%A4%A6%E0%A4%BE%E0%A4%B9%E0%A4%B0%E0%A5%82\"><\/span>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u093e \u092b\u093e\u0907\u0926\u093e\u0939\u0930\u0942<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u094b \u092e\u0941\u0916\u094d\u092f \u092b\u093e\u0907\u0926\u093e \u092d\u0928\u0947\u0915\u094b \u0920\u0942\u0932\u094b \u0932\u093e\u092d \u0915\u092e\u093e\u0909\u0928 \u0938\u0915\u094d\u0928\u0947 \u0938\u092e\u094d\u092d\u093e\u0935\u0928\u093e \u0939\u094b\u0964 \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915\u0939\u0930\u0942\u0932\u0947 \u0905\u0924\u094d\u092f\u0928\u094d\u0924\u0948 \u0915\u092e \u092e\u0942\u0932\u094d\u092f\u092e\u093e \u0927\u0947\u0930\u0948 \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0916\u0930\u0940\u0926 \u0917\u0930\u0947\u0915\u093e \u0939\u0941\u0928\u094d\u091b\u0928\u094d\u0964 \u0924\u094d\u092f\u0938\u0948\u0917\u0930\u0940, \u092d\u0940\u0938\u0940 \u091c\u0938\u094d\u0924\u093e \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0932\u0947 \u092a\u0928\u093f, \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u094b \u0906\u0908\u092a\u0940\u0913 \u0939\u0941\u0928\u0941 \u0905\u0918\u093f \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0916\u0930\u0940\u0926 \u0917\u0930\u094d\u0928\u0947 \u0939\u094b \u092d\u0928\u0947 \u0932\u0917\u093e\u0928\u0940 \u0917\u0930\u094d\u0928\u0947 \u0930\u0915\u092e \u0909\u091a\u094d\u091a \u0939\u0941\u0928 \u0938\u0915\u094d\u091b, \u0924\u0930 \u092f\u0926\u093f \u0915\u092e\u094d\u092a\u0928\u0940 \u0938\u094d\u0925\u093e\u092a\u0928\u093e \u092d\u090f\u0915\u094b \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e \u091b \u092d\u0928\u0947, \u0909\u0928\u0940\u0939\u0930\u0942\u0932\u0947 \u0905\u0924\u094d\u092f\u0928\u094d\u0924\u0948 \u0938\u0938\u094d\u0924\u094b \u092e\u0942\u0932\u094d\u092f\u092e\u093e \u0927\u0947\u0930\u0948 \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0916\u0930\u0940\u0926 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u091b\u0928\u094d\u0964 \u092f\u0938\u0930\u0940, \u092a\u094d\u0930\u093e\u0930\u092e\u094d\u092d\u093f\u0915 \u091a\u0930\u0923\u092e\u093e \u0915\u092e \u0932\u0917\u093e\u0928\u0940 \u0917\u0930\u0947\u0915\u094b \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e, \u092e\u0942\u0932\u094d\u092f \u092c\u0922\u0947\u092a\u091b\u093f \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u092c\u0947\u091a\u0947\u0930 \u0920\u0942\u0932\u094b \u0932\u093e\u092d \u0915\u092e\u093e\u0909\u0928 \u0938\u0915\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h3 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%86%E0%A4%88%E0%A4%AA%E0%A5%80%E0%A4%93_%E0%A4%AE%E0%A4%BE%E0%A4%B0%E0%A5%8D%E0%A4%AB%E0%A4%A4_%E0%A4%8F%E0%A4%95%E0%A5%8D%E0%A4%9C%E0%A4%BF%E0%A4%9F%E0%A4%95%E0%A4%BE_%E0%A4%A6%E0%A5%81%E0%A4%B7%E0%A5%8D%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%AD%E0%A4%BE%E0%A4%B5%E0%A4%B9%E0%A4%B0%E0%A5%82\"><\/span>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u093e \u0926\u0941\u0937\u094d\u092a\u094d\u0930\u092d\u093e\u0935\u0939\u0930\u0942<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u094b \u0926\u0941\u0937\u094d\u092a\u094d\u0930\u092d\u093e\u0935\u0915\u094b \u0930\u0942\u092a\u092e\u093e, \u092a\u0939\u093f\u0932\u094b, \u090f\u0915\u094d\u091c\u093f\u091f \u0917\u0930\u094d\u0928 \u0928\u0938\u0915\u094d\u0928\u0947 \u091c\u094b\u0916\u093f\u092e \u091b\u0964 \u0906\u0908\u092a\u0940\u0913 \u0917\u0930\u094d\u0928\u0915\u093e \u0932\u093e\u0917\u093f, \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0932\u093e\u0908 \u0932\u093f\u0938\u094d\u091f\u093f\u0919 \u092a\u0930\u0940\u0915\u094d\u0937\u0923\u092e\u093e \u0938\u0939\u0928 \u0917\u0930\u094d\u0928 \u0938\u0915\u094d\u0928\u0947 \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e \u0935\u093f\u0915\u093e\u0938 \u0917\u0930\u094d\u0928\u0941\u092a\u0930\u094d\u0926\u091b, \u0924\u0930 \u092f\u094b \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e \u092a\u0941\u0917\u094d\u0928 \u0928\u0938\u0915\u0947\u0930 \u0906\u0908\u092a\u0940\u0913 \u0917\u0930\u094d\u0928 \u091b\u094b\u0921\u094d\u0928\u0941\u092a\u0930\u094d\u0928\u0947 \u0905\u0935\u0938\u094d\u0925\u093e \u092a\u0928\u093f \u0906\u0909\u0928 \u0938\u0915\u094d\u091b\u0964 \u092f\u0938\u094b \u0939\u0941\u0901\u0926\u093e, \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f \u0917\u0930\u0947\u0930 \u0932\u093e\u092d \u0915\u092e\u093e\u0909\u0928 \u0938\u0915\u093f\u0928\u094d\u0928\u0964 \u0924\u094d\u092f\u0938\u0948\u0917\u0930\u0940, \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0932\u093e\u0908 \u0906\u0908\u092a\u0940\u0913 \u0917\u0930\u094d\u0928\u0915\u093e \u0932\u093e\u0917\u093f \u0920\u0942\u0932\u094b \u092a\u094d\u0930\u092f\u093e\u0938 \u0917\u0930\u094d\u0928\u0941\u092a\u0930\u094d\u0926\u091b\u0964 \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f \u0917\u0930\u094d\u0928\u0915\u093e \u0932\u093e\u0917\u093f \u0920\u0942\u0932\u094b \u092a\u094d\u0930\u092f\u093e\u0938 \u0917\u0930\u094d\u0928\u0941\u092a\u0930\u094d\u0928\u0947 \u092d\u090f\u0915\u093e\u0932\u0947, \u092f\u094b \u0906\u0908\u092a\u0940\u0913 \u092e\u093e\u0930\u094d\u092b\u0924 \u090f\u0915\u094d\u091c\u093f\u091f\u0915\u094b \u0926\u0941\u0937\u094d\u092a\u094d\u0930\u092d\u093e\u0935 \u0939\u094b\u0964<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"M_A_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_EXIT\"><\/span>M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith-law.jp\/wp-content\/uploads\/2020\/02\/shutterstock_1413966269-1024x683.jpg\" alt=\"\" class=\"wp-image-7174\" \/><figcaption class=\"wp-element-caption\">\u0905\u0930\u094d\u0915\u094b, M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u094b \u092c\u093e\u0930\u0947\u092e\u093e \u0935\u093f\u0938\u094d\u0924\u0943\u0924 \u091c\u093e\u0928\u0915\u093e\u0930\u0940 \u0926\u093f\u0928\u094d\u091b\u094c\u0902\u0964<\/figcaption><\/figure>\n\n\n\n<p>\u0926\u094b\u0938\u094d\u0930\u094b \u0935\u093f\u0915\u0932\u094d\u092a\u0915\u094b \u0930\u0942\u092a\u092e\u093e, M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0932\u093e\u0908 \u0938\u092e\u093e\u0935\u0947\u0936 \u0917\u0930\u094d\u0928 \u0938\u0915\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"M_A_%E0%A4%AD%E0%A4%A8%E0%A5%87%E0%A4%95%E0%A5%8B_%E0%A4%95%E0%A5%87_%E0%A4%B9%E0%A5%8B\"><\/span>M&amp;A \u092d\u0928\u0947\u0915\u094b \u0915\u0947 \u0939\u094b?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>M&amp;A \u092d\u0928\u094d\u0928\u093e\u0932\u0947 Mergers (\u0938\u0902\u0917\u0920\u0928) \u0930 Acquisitions (\u0905\u0927\u093f\u0917\u094d\u0930\u0939\u0923) \u0915\u094b \u091b\u094b\u091f\u0915\u0930\u0940 \u0939\u094b, \u091c\u0938\u0932\u0947 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0915\u094b \u0938\u0902\u0917\u0920\u0928 \u0935\u093e \u0905\u0927\u093f\u0917\u094d\u0930\u0939\u0923\u0932\u093e\u0908 \u091c\u0928\u093e\u0909\u0901\u091b\u0964 \u092a\u094d\u0930\u092f\u094b\u0917\u0915\u094b \u0938\u0928\u094d\u0926\u0930\u094d\u092d\u092e\u093e, M&amp;A \u092d\u0928\u094d\u0928\u093e\u0932\u0947 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0915\u094b \u0938\u0939\u0915\u093e\u0930\u094d\u092f\u0938\u092e\u094d\u092e \u092a\u0928\u093f \u091c\u0928\u093e\u0909\u0928 \u0938\u0915\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/merger-acquisition\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/merger-acquisition[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"M_A_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_EXIT_%E0%A4%95%E0%A5%8B_%E0%A4%AA%E0%A5%8D%E0%A4%B0%E0%A4%A3%E0%A4%BE%E0%A4%B2%E0%A5%80\"><\/span>M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u094b \u092a\u094d\u0930\u0923\u093e\u0932\u0940<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>M&amp;A \u092d\u0928\u094d\u0928\u093e\u0932\u0947 \u0915\u092e\u094d\u092a\u0928\u0940 \u0935\u093e \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u094b \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u092c\u0947\u091a\u0947\u0930 \u0932\u093e\u092d \u0915\u092e\u093e\u0909\u0928\u0947 \u0935\u093f\u0927\u093f \u0939\u094b\u0964 \u0935\u093f\u0936\u0947\u0937 \u0917\u0930\u0940, \u0915\u092e\u094d\u092a\u0928\u0940\u0932\u093e\u0908 \u0935\u093f\u0915\u093e\u0938 \u0917\u0930\u0940, \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u094b \u092e\u0942\u0932\u094d\u092f \u092c\u0922\u093e\u090f\u092a\u091b\u093f, \u0915\u092e\u094d\u092a\u0928\u0940 \u0935\u093e \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u094b \u0935\u094d\u092f\u093e\u092a\u093e\u0930 \u092c\u0947\u091a\u0947\u0930 \u0932\u093e\u092d \u0915\u092e\u093e\u0909\u0928\u0947 \u0917\u0930\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"M_A_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_EXIT_%E0%A4%95%E0%A4%BE_%E0%A4%AB%E0%A4%BE%E0%A4%87%E0%A4%A6%E0%A4%BE%E0%A4%B9%E0%A4%B0%E0%A5%82\"><\/span>M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u093e \u092b\u093e\u0907\u0926\u093e\u0939\u0930\u0942<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>M&amp;A \u0915\u093e \u092b\u093e\u0907\u0926\u093e\u0939\u0930\u0942\u092e\u093e, IPO \u0938\u092e\u094d\u092e \u092a\u0941\u0917\u094d\u0928 \u0928\u0938\u0915\u0947 \u092a\u0928\u093f EXIT \u0917\u0930\u094d\u0928 \u0938\u0915\u093f\u0928\u0947 \u092c\u093f\u0928\u094d\u0926\u0941 \u091b\u0964 \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u094b \u092e\u0942\u0932\u094d\u092f \u092c\u0922\u0947\u0915\u094b \u091b \u0924\u0930 IPO \u0938\u092e\u094d\u092e \u092a\u0941\u0917\u094d\u0928 \u0928\u0938\u0915\u094d\u0928\u0947 \u0927\u0947\u0930\u0948 \u0909\u0926\u093e\u0939\u0930\u0923\u0939\u0930\u0942 \u091b\u0928\u094d\u0964 \u092f\u0938\u094d\u0924\u094b \u0905\u0935\u0938\u094d\u0925\u093e\u092e\u093e, M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0917\u0930\u0947\u0930 \u0932\u093e\u092d \u0915\u092e\u093e\u0909\u0928 \u0938\u0915\u093f\u0928\u094d\u091b\u0964 \u092f\u0938\u0915\u093e \u0938\u093e\u0925\u0948, VC \u091c\u0938\u094d\u0924\u093e \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0915\u093e \u0932\u093e\u0917\u093f, \u0936\u0947\u092f\u0930\u0939\u0930\u0942 \u0928\u093f\u0936\u094d\u091a\u093f\u0924 \u0930\u0942\u092a\u092e\u093e \u091b\u094b\u0921\u094d\u0928 \u0938\u0915\u093f\u0928\u094d\u091b, \u091c\u0938\u0932\u0947 \u0936\u0947\u092f\u0930 \u0932\u093f\u0928\u0947 \u0915\u0938\u0948\u0932\u093e\u0908 \u0928\u092a\u093e\u0909\u0928\u0947 \u091c\u094b\u0916\u093f\u092e\u0932\u093e\u0908 \u091f\u093e\u0930\u094d\u0928 \u0938\u0915\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"M_A_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%BE%E0%A4%B0%E0%A4%BE_EXIT_%E0%A4%95%E0%A4%BE_%E0%A4%A6%E0%A5%8B%E0%A4%B7%E0%A4%B9%E0%A4%B0%E0%A5%82\"><\/span>M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u093e \u0926\u094b\u0937\u0939\u0930\u0942<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u093e \u0926\u094b\u0937\u0939\u0930\u0942\u092e\u093e, M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e \u0935\u0930\u094d\u0924\u092e\u093e\u0928 \u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e\u092a\u0928 \u091f\u094b\u0932\u0940\u092c\u093e\u091f \u0928\u092f\u093e\u0901 \u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e\u092a\u0928 \u091f\u094b\u0932\u0940\u092e\u093e \u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e\u092a\u0928 \u0905\u0927\u093f\u0915\u093e\u0930 \u0938\u093e\u0930\u094d\u0928\u0947 \u092c\u093f\u0928\u094d\u0926\u0941 \u091b\u0964 \u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e\u092a\u0928 \u0905\u0927\u093f\u0915\u093e\u0930 \u0938\u093e\u0930\u093f\u090f \u092a\u0928\u093f, VC \u091c\u0938\u094d\u0924\u093e \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0915\u094b \u0926\u0943\u0937\u094d\u091f\u093f\u0915\u094b\u0923\u092c\u093e\u091f \u0939\u0947\u0930\u094d\u0926\u093e, \u092f\u0938\u0932\u093e\u0908 \u0935\u093f\u0936\u0947\u0937 \u0926\u094b\u0937 \u092e\u093e\u0928\u093f\u0901\u0926\u0948\u0928, \u0924\u0930 \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915\u0939\u0930\u0942\u0915\u093e \u0932\u093e\u0917\u093f, \u092f\u0938\u092a\u091b\u093f \u0935\u094d\u092f\u0935\u0938\u094d\u0925\u093e\u092a\u0928\u092e\u093e \u0938\u0902\u0932\u0917\u094d\u0928 \u0939\u0941\u0928 \u0928\u0938\u0915\u094d\u0928\u0947 \u0938\u092e\u094d\u092d\u093e\u0935\u0928\u093e \u091b, \u092f\u0938\u0948\u0932\u0947 \u092f\u094b \u0926\u094b\u0937 \u092e\u093e\u0928\u093f\u0928\u094d\u091b\u0964 \u092f\u0938\u0915\u093e \u0938\u093e\u0925\u0948, \u0938\u0942\u091a\u0928\u093e \u091a\u0941\u0939\u093e\u0935\u091f\u0915\u094b \u091c\u094b\u0916\u093f\u092e \u092a\u0928\u093f \u091b\u0964 M&amp;A \u0917\u0930\u094d\u0926\u093e, \u0905\u0927\u093f\u0917\u094d\u0930\u0939\u0923 \u0917\u0930\u094d\u0928\u0947 \u092a\u0915\u094d\u0937\u0932\u0947 \u0915\u0941\u0928\u0948 \u092a\u0928\u093f \u0905\u0928\u0941\u0938\u0928\u094d\u0927\u093e\u0928 \u092c\u093f\u0928\u093e \u0905\u0927\u093f\u0917\u094d\u0930\u0939\u0923 \u0928\u093f\u0930\u094d\u0923\u092f \u0917\u0930\u094d\u0926\u0948\u0928, \u092c\u0930\u0941 \u0926\u0943\u0922 \u0921\u094d\u092f\u0942 \u0921\u093f\u0932\u093f\u091c\u0947\u0928\u094d\u0938 (DD) \u0906\u0926\u093f \u0917\u0930\u0947\u0930 \u0905\u0927\u093f\u0917\u094d\u0930\u0939\u0923\u0915\u094b \u0928\u093f\u0930\u094d\u0923\u092f \u0917\u0930\u094d\u091b\u0964 \u092f\u0938 \u0915\u094d\u0930\u092e\u092e\u093e, \u092c\u0947\u091a\u094d\u0928\u0947 \u092a\u0915\u094d\u0937\u0932\u0947 \u0905\u0927\u093f\u0917\u094d\u0930\u0939\u0923 \u0917\u0930\u094d\u0928\u0947 \u092a\u0915\u094d\u0937\u0932\u093e\u0908 \u0915\u0947\u0939\u093f \u0938\u0942\u091a\u0928\u093e \u092a\u094d\u0930\u0926\u093e\u0928 \u0917\u0930\u094d\u0928\u0941\u092a\u0930\u094d\u0928\u0947 \u0939\u0941\u0928\u094d\u091b, \u091c\u0938\u0932\u0947 \u0917\u0930\u094d\u0926\u093e \u0938\u0942\u091a\u0928\u093e \u091a\u0941\u0939\u093e\u0935\u091f\u0915\u094b \u091c\u094b\u0916\u093f\u092e \u0909\u0924\u094d\u092a\u0928\u094d\u0928 \u0939\u0941\u0928\u094d\u091b\u0964 \u092f\u0938\u094d\u0924\u094b \u0938\u0942\u091a\u0928\u093e \u091a\u0941\u0939\u093e\u0935\u091f\u0932\u093e\u0908 \u0930\u094b\u0915\u094d\u0928\u0915\u093e \u0932\u093e\u0917\u093f, \u0926\u0943\u0922 \u0917\u094b\u092a\u0928\u0940\u092f\u0924\u093e \u0938\u092e\u094d\u091d\u094c\u0924\u093e \u0917\u0930\u094d\u0928\u0941 \u092e\u0939\u0924\u094d\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0939\u0941\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<p>\u0924\u094d\u092f\u0938\u0948\u0917\u0930\u0940, M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e EXIT \u0915\u094b \u0926\u094b\u0937\u0915\u094b \u0930\u0942\u092a\u092e\u093e, \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u0940\u0939\u0930\u0942\u0915\u094b \u0939\u0947\u0930\u091a\u093e\u0939\u0915\u094b \u0906\u0935\u0936\u094d\u092f\u0915\u0924\u093e \u0930\u0939\u0928\u094d\u091b\u0964 M&amp;A \u0926\u094d\u0935\u093e\u0930\u093e \u0917\u0930\u093f\u090f\u0915\u094b \u0938\u092e\u094d\u091d\u094c\u0924\u093e\u0915\u094b \u0906\u0927\u093e\u0930\u092e\u093e, \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u0940\u0939\u0930\u0942\u0938\u0901\u0917\u0915\u094b \u0938\u092e\u094d\u091d\u094c\u0924\u093e \u0938\u092e\u094d\u092c\u0928\u094d\u0927 \u092a\u0928\u093f M&amp;A \u092e\u093e \u0938\u092e\u093e\u0935\u0947\u0936 \u0939\u0941\u0928 \u0938\u0915\u094d\u091b\u0964 \u092f\u0938\u094b \u0939\u0941\u0901\u0926\u093e, \u0915\u093e\u0930\u094d\u092f\u0938\u094d\u0925\u0932\u0915\u094b \u0935\u093e\u0924\u093e\u0935\u0930\u0923 \u0930 \u0905\u0918\u093f\u0932\u094d\u0932\u094b \u0915\u093e\u092e\u0915\u094b \u0938\u092e\u094d\u092c\u0928\u094d\u0927\u092e\u093e \u092a\u0930\u093f\u0935\u0930\u094d\u0924\u0928 \u0906\u0909\u0928 \u0938\u0915\u094d\u091b, \u091c\u0938\u0932\u0947 \u0917\u0930\u094d\u0926\u093e \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u0940\u0939\u0930\u0942\u0932\u093e\u0908 \u0915\u093e\u092e \u0917\u0930\u094d\u0928 \u0917\u093e\u0939\u094d\u0930\u094b \u0939\u0941\u0928 \u0938\u0915\u094d\u091b\u0964 \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u093e \u0932\u093e\u0917\u093f \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u0940\u0939\u0930\u0942 \u092e\u0939\u0924\u094d\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u0938\u092e\u094d\u092a\u0924\u094d\u0924\u093f \u0939\u0941\u0928\u094d, \u0924\u094d\u092f\u0938\u0948\u0932\u0947 \u0915\u0930\u094d\u092e\u091a\u093e\u0930\u0940\u0939\u0930\u0942\u0915\u094b \u0939\u0947\u0930\u091a\u093e\u0939\u0915\u094b \u0906\u0935\u0936\u094d\u092f\u0915\u0924\u093e \u0930\u0939\u0928\u094d\u091b, \u091c\u0941\u0928 \u0926\u094b\u0937\u0915\u094b \u0930\u0942\u092a\u092e\u093e \u092e\u093e\u0928\u093f\u0928\u094d\u091b\u0964<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E0%A4%B8%E0%A4%BE%E0%A4%B0%E0%A4%BE%E0%A4%82%E0%A4%B6\"><\/span>\u0938\u093e\u0930\u093e\u0902\u0936<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u092f\u0938\u092e\u093e, IPO \u0930 M&amp;A \u092e\u093e\u0930\u094d\u092b\u0924 EXIT \u0917\u0930\u094d\u0928\u0947 \u0935\u093f\u0927\u093f\u0939\u0930\u0942\u0915\u094b \u0935\u0930\u094d\u0923\u0928 \u0917\u0930\u093f\u090f\u0915\u094b \u091b\u0964 \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942 \u0930 \u0924\u093f\u0928\u0940\u0939\u0930\u0942\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915\u0939\u0930\u0942\u092e\u093e \u0932\u0917\u093e\u0928\u0940 \u0917\u0930\u094d\u0928\u0947 \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942 \u0938\u093e\u092e\u093e\u0928\u094d\u092f\u0924\u092f\u093e \u0932\u0917\u093e\u0928\u0940\u092c\u093e\u091f \u0932\u093e\u092d \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0917\u0930\u094d\u0928\u0947 \u0938\u093e\u091d\u093e \u0909\u0926\u094d\u0926\u0947\u0936\u094d\u092f \u092c\u094b\u0915\u0947\u0915\u093e \u0939\u0941\u0928\u094d\u091b\u0928\u094d\u0964 \u0924\u094d\u092f\u0938\u0948\u0932\u0947, EXIT \u0917\u0930\u094d\u0928\u0947 \u0935\u093f\u0927\u093f\u0939\u0930\u0942 \u092c\u0941\u091d\u094d\u0928\u093e\u0932\u0947 \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915\u0939\u0930\u0942 \u0930 \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942\u0915\u094b \u0915\u0926\u092e \u092e\u093f\u0932\u094d\u0928 \u0938\u0915\u094d\u0928\u0947 \u0906\u0936\u093e \u0917\u0930\u093f\u0928\u094d\u091b\u0964 \u0924\u094d\u092f\u0938\u0948\u0932\u0947, \u092a\u0939\u093f\u0932\u0947 IPO \u0930 M&amp;A \u091c\u0938\u094d\u0924\u093e EXIT \u0917\u0930\u094d\u0928\u0947 \u092a\u094d\u0930\u092e\u0941\u0916 \u0935\u093f\u0927\u093f\u0939\u0930\u0942\u0932\u093e\u0908 \u0930\u093e\u092e\u094d\u0930\u0930\u0940 \u092c\u0941\u091d\u094d\u0928\u0941 \u092e\u0939\u0924\u094d\u0924\u094d\u0935\u092a\u0942\u0930\u094d\u0923 \u091b\u0964 IPO \u0930 M&amp;A \u092e\u093e\u0930\u094d\u092b\u0924 EXIT \u0917\u0930\u094d\u0928\u0947 \u0935\u093f\u0927\u093f\u0939\u0930\u0942\u092e\u093e \u0915\u092e\u094d\u092a\u0928\u0940 \u0915\u093e\u0928\u0942\u0928 \u0906\u0926\u093f \u0938\u092e\u094d\u092c\u0928\u094d\u0927\u093f\u0924 \u091c\u094d\u091e\u093e\u0928 \u0906\u0935\u0936\u094d\u092f\u0915 \u092a\u0930\u094d\u0926\u091b, \u0924\u094d\u092f\u0938\u0948\u0932\u0947 \u092f\u0926\u093f \u0924\u092a\u093e\u0908\u0902\u0932\u093e\u0908 IPO \u0930 M&amp;A \u092e\u093e\u0930\u094d\u092b\u0924 EXIT \u0917\u0930\u094d\u0928\u0947 \u0935\u093f\u0927\u093f\u0939\u0930\u0942\u0915\u094b \u092c\u0941\u091d\u093e\u0907\u092e\u093e \u0905\u0928\u093f\u0936\u094d\u091a\u093f\u0924\u0924\u093e \u091b \u092d\u0928\u0947, \u0935\u0915\u093f\u0932\u0938\u0901\u0917 \u0938\u0932\u094d\u0932\u093e\u0939 \u0917\u0930\u094d\u0928\u0941\u0939\u094b\u0938\u094d\u0964<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u091c\u093e\u092a\u093e\u0928\u092e\u093e \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u0915\u093e \u0938\u0902\u0938\u094d\u0925\u093e\u092a\u0915\u0939\u0930\u0942 \u0930 \u092d\u0947\u0928\u094d\u091a\u0930 \u0915\u092e\u094d\u092a\u0928\u0940\u0939\u0930\u0942\u092e\u093e \u0932\u0917\u093e\u0928\u0940 \u0917\u0930\u094d\u0928\u0947 \u0932\u0917\u093e\u0928\u0940\u0915\u0930\u094d\u0924\u093e\u0939\u0930\u0942 \u0926\u0941\u0935\u0948 \u091c\u0928\u093e \u092b\u093e\u0907\u0926\u093e \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0917\u0930\u094d\u0928\u0947 \u0909\u0926\u094d\u0926\u0947\u0936\u094d\u092f\u0932\u0947 \u0915\u093e\u0930\u094d\u092f \u0917\u0930\u094d\u0926\u091b\u0928\u094d\u0964 \u0924\u0930, \u092b\u093e\u0907\u0926\u093e \u092a\u094d\u0930\u093e\u092a\u094d\u0924 \u0917\u0930\u094d\u0928\u0941 \u092d\u0928\u0947\u0915\u094b \u090f\u0909\u091f\u093e \u092e\u093e\u0924\u094d\u0930 \u0924\u0930\u093f\u0915\u093e \u0939\u094b\u0907\u0928, \u0935\u093f\u092d\u093f\u0928\u094d [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":68228,"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\/ne\/wp-json\/wp\/v2\/posts\/67381"}],"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=67381"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/posts\/67381\/revisions"}],"predecessor-version":[{"id":68229,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/posts\/67381\/revisions\/68229"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/media\/68228"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/media?parent=67381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/categories?post=67381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/ne\/wp-json\/wp\/v2\/tags?post=67381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}