{"id":62629,"date":"2024-02-19T14:27:50","date_gmt":"2024-02-19T05:27:50","guid":{"rendered":"https:\/\/monolith.law\/ro\/?p=62629"},"modified":"2024-02-28T15:30:00","modified_gmt":"2024-02-28T06:30:00","slug":"exit-by-ipo-m-and-a","status":"publish","type":"post","link":"https:\/\/monolith.law\/ro\/general-corporate\/exit-by-ipo-m-and-a","title":{"rendered":"Metode de EXIT prin IPO \u0219i M&amp;A"},"content":{"rendered":"\n<p>\u00centreprinz\u0103torii de startup-uri \u0219i investitorii care investesc \u00een companii de tip startup ac\u021bioneaz\u0103 cu scopul de a ob\u021bine profit. Cu toate acestea, chiar dac\u0103 scopul este de a ob\u021bine profit, nu exist\u0103 o singur\u0103 metod\u0103 pentru a realiza acest lucru, ci se pot considera diverse metode. Prin urmare, \u00een acest articol, vom explica metodele de EXIT prin IPO \u0219i M&amp;A, care sunt mijloacele reprezentative prin care \u00eentreprinz\u0103torii de startup-uri \u0219i investitorii ob\u021bin profit.<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Ce_inseamna_EXIT\" title=\"Ce \u00eenseamn\u0103 EXIT?\">Ce \u00eenseamn\u0103 EXIT?<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Metode_de_EXIT\" title=\"Metode de EXIT\">Metode de EXIT<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Iesirea_prin_Oferta_Publica_Initiala_IPO\" title=\"Ie\u0219irea prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)\">Ie\u0219irea prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Ce_este_Oferta_Publica_Initiala_IPO\" title=\"Ce este Oferta Public\u0103 Ini\u021bial\u0103 (IPO)\">Ce este Oferta Public\u0103 Ini\u021bial\u0103 (IPO)<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Mecanismul_iesirii_prin_Oferta_Publica_Initiala_IPO\" title=\"Mecanismul ie\u0219irii prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)\">Mecanismul ie\u0219irii prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Avantajele_iesirii_prin_Oferta_Publica_Initiala_IPO\" title=\"Avantajele ie\u0219irii prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)\">Avantajele ie\u0219irii prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Dezavantajele_iesirii_prin_Oferta_Publica_Initiala_IPO\" title=\"Dezavantajele ie\u0219irii prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)\">Dezavantajele ie\u0219irii prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Iesire_prin_M_A\" title=\"Ie\u0219ire prin M&amp;A\">Ie\u0219ire prin M&amp;A<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Ce_este_M_A\" title=\"Ce este M&amp;A\">Ce este M&amp;A<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Mecanismul_iesirii_prin_M_A\" title=\"Mecanismul ie\u0219irii prin M&amp;A\">Mecanismul ie\u0219irii prin M&amp;A<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Avantajele_iesirii_prin_M_A\" title=\"Avantajele ie\u0219irii prin M&amp;A\">Avantajele ie\u0219irii prin M&amp;A<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Dezavantajele_iesirii_prin_M_A\" title=\"Dezavantajele ie\u0219irii prin M&amp;A\">Dezavantajele ie\u0219irii prin M&amp;A<\/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\/ro\/general-corporate\/exit-by-ipo-m-and-a\/#Rezumat\" title=\"Rezumat\">Rezumat<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ce_inseamna_EXIT\"><\/span>Ce \u00eenseamn\u0103 EXIT?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>EXIT este un concept folosit \u00een afacerile de tip start-up \u0219i \u00een restructurarea companiilor, referindu-se la momentul \u00een care fondatorii de start-up-uri, fondurile de investi\u021bii sau capitalul de risc (VC) \u00ee\u0219i recupereaz\u0103 capitalul investit prin v\u00e2nzarea de ac\u021biuni sau prin fuziuni \u0219i achizi\u021bii (M&amp;A), ob\u021bin\u00e2nd astfel profit. Simplu spus, este momentul \u00een care fondatorii \u0219i investitorii unui start-up ob\u021bin profit prin investi\u021bii \u00een companie. De asemenea, EXIT este uneori numit \u0219i &#8220;Harvesting&#8221; (Recoltare), termen care are sensul de a recolta sau a culege beneficiile.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Metode_de_EXIT\"><\/span>Metode de EXIT<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u00cen ceea ce prive\u0219te metodele de EXIT, putem considera \u00een principal urm\u0103toarele dou\u0103 metode:<\/p>\n\n\n\n<ul>\n<li>EXIT prin listarea pe burs\u0103 (IPO)<\/li>\n\n\n\n<li>EXIT prin M&amp;A (Fuziuni \u0219i Achizi\u021bii)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Iesirea_prin_Oferta_Publica_Initiala_IPO\"><\/span>Ie\u0219irea prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Prima metod\u0103 care poate fi luat\u0103 \u00een considerare este ie\u0219irea prin IPO.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ce_este_Oferta_Publica_Initiala_IPO\"><\/span>Ce este Oferta Public\u0103 Ini\u021bial\u0103 (IPO)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/02\/shutterstock_318368702-1024x683.jpg\" alt=\"\" class=\"wp-image-7173\" \/><figcaption class=\"wp-element-caption\">Vom explica despre ie\u0219irea prin IPO.<\/figcaption><\/figure>\n\n\n\n<p>IPO este acronimul pentru initial public offering, cunoscut \u0219i ca listare pe burs\u0103, ofert\u0103 public\u0103 sau ac\u021biuni nou emise. Acesta se refer\u0103 la listarea ac\u021biunilor unei companii pe o burs\u0103 de valori, f\u0103c\u00e2nd astfel ac\u021biunile disponibile pentru public \u0219i permi\u021b\u00e2nd oricui s\u0103 le cumpere. <\/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=\"Mecanismul_iesirii_prin_Oferta_Publica_Initiala_IPO\"><\/span>Mecanismul ie\u0219irii prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u00cen primul r\u00e2nd, s\u0103 ne g\u00e2ndim la situa\u021bia fondatorilor de start-up-uri. Ace\u0219tia de\u021bin, desigur, majoritatea ac\u021biunilor companiei lor. Atunci c\u00e2nd se realizeaz\u0103 un IPO, valoarea ac\u021biunilor cre\u0219te semnificativ. Astfel, fondatorii start-up-urilor pot vinde ac\u021biunile pe care le de\u021bin la un pre\u021b ridicat dup\u0103 IPO, ob\u021bin\u00e2nd profit. Apoi, s\u0103 ne g\u00e2ndim la situa\u021bia investitorilor, cum ar fi fondurile de capital de risc (VC).<\/p>\n\n\n\n<p>Ini\u021bial, investitorii, cum ar fi VC, evalueaz\u0103 dac\u0103 o companie start-up are poten\u021bial de cre\u0219tere pe baza afacerii sale. Dac\u0103 se consider\u0103 c\u0103 compania are poten\u021bial de cre\u0219tere, ace\u0219tia investesc \u00een companie \u0219i cump\u0103r\u0103 ac\u021biuni. La acest moment, compania este \u00eenc\u0103 \u00een faza de cre\u0219tere, astfel \u00eenc\u00e2t investitorii pot cump\u0103ra ac\u021biuni la un pre\u021b relativ sc\u0103zut. Apoi, \u00een unele cazuri, ofer\u0103 sprijin, cum ar fi sfaturi pentru managementul companiei, cu scopul de a ajuta compania s\u0103 ajung\u0103 la IPO. Astfel, investitorii pot vinde ac\u021biunile pe care le-au cump\u0103rat la un pre\u021b relativ sc\u0103zut \u00eenainte de IPO, la un pre\u021b ridicat dup\u0103 IPO, ob\u021bin\u00e2nd profit. Acesta este mecanismul prin care se realizeaz\u0103 o ie\u0219ire prin IPO.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Avantajele_iesirii_prin_Oferta_Publica_Initiala_IPO\"><\/span>Avantajele ie\u0219irii prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Unul dintre principalele avantaje ale ie\u0219irii prin IPO este poten\u021bialul de a ob\u021bine profituri mari. Dac\u0103 sunte\u021bi un fondator de start-up, a\u021bi cump\u0103rat o mul\u021bime de ac\u021biuni la un pre\u021b extrem de sc\u0103zut. De asemenea, dac\u0103 sunte\u021bi un investitor, cum ar fi un VC, de\u0219i suma investit\u0103 poate fi destul de mare dac\u0103 cump\u0103ra\u021bi ac\u021biuni \u00een apropierea momentului IPO, dac\u0103 cump\u0103ra\u021bi ac\u021biuni c\u00e2nd compania este \u00eenc\u0103 la \u00eenceput, pute\u021bi cump\u0103ra o mul\u021bime de ac\u021biuni la un pre\u021b foarte sc\u0103zut. Dac\u0103 suma ini\u021bial\u0103 investit\u0103 este mic\u0103, atunci v\u00e2nzarea ac\u021biunilor care \u0219i-au crescut valoarea poate genera un profit mare.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dezavantajele_iesirii_prin_Oferta_Publica_Initiala_IPO\"><\/span>Dezavantajele ie\u0219irii prin Oferta Public\u0103 Ini\u021bial\u0103 (IPO)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Unul dintre dezavantajele ie\u0219irii prin IPO este riscul de a nu putea ie\u0219i. Pentru a realiza un IPO, este necesar s\u0103 cre\u0219te\u021bi compania start-up la un nivel care s\u0103 poat\u0103 trece de examinarea pentru listare, dar exist\u0103 multe cazuri \u00een care nu se poate ajunge la acest nivel \u0219i se renun\u021b\u0103 la IPO. \u00cen acest caz, desigur, nu pute\u021bi ob\u021bine profit prin ie\u0219irea prin IPO. De asemenea, necesit\u0103 mult efort pentru a duce o companie start-up la IPO. Faptul c\u0103 necesit\u0103 mult efort pentru a realiza o ie\u0219ire prin IPO este, de asemenea, un dezavantaj al ie\u0219irii prin IPO.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Iesire_prin_M_A\"><\/span>Ie\u0219ire prin M&amp;A<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2020\/02\/shutterstock_1413966269-1024x683.jpg\" alt=\"\" class=\"wp-image-7174\" \/><figcaption class=\"wp-element-caption\">\u00cen continuare, vom explica despre ie\u0219irea prin M&amp;A.<\/figcaption><\/figure>\n\n\n\n<p> A doua metod\u0103 care poate fi luat\u0103 \u00een considerare este ie\u0219irea prin M&amp;A.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ce_este_M_A\"><\/span>Ce este M&amp;A<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>M&amp;A este acronimul pentru Mergers (Fuziuni) \u0219i Acquisitions (Achizi\u021bii), referindu-se la fuziunile \u0219i achizi\u021biile de companii. \u00cen func\u021bie de context, conceptul de M&amp;A poate include \u0219i parteneriatele \u00eentre companii.<\/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=\"Mecanismul_iesirii_prin_M_A\"><\/span>Mecanismul ie\u0219irii prin M&amp;A<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>M&amp;A reprezint\u0103 metoda de a ob\u021bine profit prin v\u00e2nzarea unei companii sau a unei afaceri. Concret, dup\u0103 ce o companie a crescut \u0219i valoarea acesteia a crescut, se poate ob\u021bine profit prin v\u00e2nzarea companiei sau a afacerii.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Avantajele_iesirii_prin_M_A\"><\/span>Avantajele ie\u0219irii prin M&amp;A<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Un avantaj al M&amp;A este c\u0103 se poate realiza o ie\u0219ire chiar dac\u0103 nu se ajunge la IPO. Exist\u0103 multe cazuri \u00een care valoarea unei companii a crescut, dar nu se ajunge la IPO. \u00cen astfel de cazuri, se poate ob\u021bine profit prin ie\u0219irea prin M&amp;A. De asemenea, din perspectiva investitorilor, cum ar fi VC, se poate evita riscul de a nu g\u0103si un cump\u0103r\u0103tor pentru ac\u021biuni, deoarece acestea pot fi v\u00e2ndute cu siguran\u021b\u0103.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dezavantajele_iesirii_prin_M_A\"><\/span>Dezavantajele ie\u0219irii prin M&amp;A<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Un dezavantaj al ie\u0219irii prin M&amp;A este c\u0103 dreptul de administrare se mut\u0103 de la actuala echip\u0103 de management la o nou\u0103 echip\u0103 de management. Chiar dac\u0103 dreptul de administrare se schimb\u0103, se crede c\u0103 nu va fi un dezavantaj din perspectiva investitorilor, cum ar fi VC, dar pentru fondatorii de start-up-uri, acest lucru poate fi un dezavantaj, deoarece exist\u0103 posibilitatea de a nu mai putea participa la management. Un alt dezavantaj al ie\u0219irii prin M&amp;A este riscul de scurgere a informa\u021biilor. C\u00e2nd se realizeaz\u0103 un M&amp;A, partea care face achizi\u021bia nu decide s\u0103 cumpere f\u0103r\u0103 a face nicio investiga\u021bie, ci face o due diligence (DD) \u0219i decide s\u0103 cumpere. \u00cen acest caz, partea care vinde trebuie s\u0103 furnizeze anumite informa\u021bii p\u0103r\u021bii care cump\u0103r\u0103, ceea ce poate duce la riscul de scurgere a informa\u021biilor. Pentru a preveni astfel de scurgeri de informa\u021bii, este important s\u0103 se \u00eencheie un acord de confiden\u021bialitate.<\/p>\n\n\n\n<p>\u00cen plus, un alt dezavantaj al ie\u0219irii prin M&amp;A este necesitatea de a avea grij\u0103 de angaja\u021bi. \u00cen func\u021bie de con\u021binutul contractului M&amp;A, transferul rela\u021biei contractuale cu angaja\u021bii poate fi inclus \u00een M&amp;A. \u00cen acest caz, pot ap\u0103rea schimb\u0103ri \u00een mediul de lucru \u0219i \u00een rela\u021bia de munc\u0103 existent\u0103, ceea ce poate face dificil\u0103 munca pentru angaja\u021bi. Angaja\u021bii sunt o proprietate important\u0103 pentru companie, deci necesitatea de a avea grij\u0103 de angaja\u021bi poate fi considerat\u0103 un dezavantaj.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rezumat\"><\/span>Rezumat<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Am explicat mai sus despre metodele de EXIT prin IPO \u0219i M&amp;A. \u00cen principiu, at\u00e2t fondatorii de start-up-uri \u0219i alte companii de acest gen, c\u00e2t \u0219i investitorii care investesc \u00een aceste companii, au un obiectiv comun de a ob\u021bine profit din investi\u021biile lor. Prin urmare, \u00een\u021belegerea metodelor de EXIT poate ajuta la alinierea obiectivelor \u00eentre fondatorii de start-up-uri \u0219i investitori. Prin urmare, este esen\u021bial s\u0103 \u00een\u021belege\u021bi bine metodele reprezentative de EXIT, cum ar fi IPO \u0219i M&amp;A. Cuno\u0219tin\u021bele specializate, cum ar fi cuno\u0219tin\u021bele despre legea companiilor japoneze (Japanese Company Law), sunt necesare pentru a \u00een\u021belege metodele de EXIT prin IPO \u0219i M&amp;A. Dac\u0103 ave\u021bi nel\u0103muriri cu privire la \u00een\u021belegerea metodelor de EXIT prin IPO \u0219i M&amp;A, v\u0103 recomand\u0103m s\u0103 consulta\u021bi un avocat.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00centreprinz\u0103torii de startup-uri \u0219i investitorii care investesc \u00een companii de tip startup ac\u021bioneaz\u0103 cu scopul de a ob\u021bine profit. Cu toate acestea, chiar dac\u0103 scopul este de a ob\u021bine profit, nu exist [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":64438,"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\/ro\/wp-json\/wp\/v2\/posts\/62629"}],"collection":[{"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/comments?post=62629"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/posts\/62629\/revisions"}],"predecessor-version":[{"id":64439,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/posts\/62629\/revisions\/64439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/media\/64438"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/media?parent=62629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/categories?post=62629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/tags?post=62629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}