{"id":62865,"date":"2024-02-19T14:27:58","date_gmt":"2024-02-19T05:27:58","guid":{"rendered":"https:\/\/monolith.law\/ro\/?p=62865"},"modified":"2024-02-27T23:18:32","modified_gmt":"2024-02-27T14:18:32","slug":"investment-contract-and-shareholder-agreement","status":"publish","type":"post","link":"https:\/\/monolith.law\/ro\/general-corporate\/investment-contract-and-shareholder-agreement","title":{"rendered":"Rela\u021bia dintre contractul de investi\u021bii \u0219i contractul dintre ac\u021bionari"},"content":{"rendered":"\n<p>C\u00e2nd lucra\u021bi cu companii de tip start-up, s-ar putea s\u0103 observa\u021bi c\u0103, atunci c\u00e2nd VC \u0219i al\u021bii investesc, uneori se \u00eencheie doar un contract de investi\u021bii, \u00een timp ce alteori se \u00eencheie at\u00e2t un contract de investi\u021bii c\u00e2t \u0219i un contract \u00eentre ac\u021bionari. Exist\u0103 diferite tipuri de contracte care sunt \u00eencheiate atunci c\u00e2nd se investe\u0219te \u00een companii de tip start-up, dar num\u0103rul de persoane care \u00een\u021beleg pe deplin fiecare tip de contract \u0219i diferen\u021bele dintre tipurile de contracte este surprinz\u0103tor de mic.<br> Prin urmare, \u00een acest articol, vom explica ce fel de contracte sunt contractul de investi\u021bii \u0219i contractul \u00eentre ac\u021bionari, \u0219i apoi vom explica rela\u021bia \u0219i diferen\u021bele dintre acestea.<\/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\/investment-contract-and-shareholder-agreement\/#Ce_este_un_contract_de_investitii\" title=\"Ce este un contract de investi\u021bii\">Ce este un contract de investi\u021bii<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/investment-contract-and-shareholder-agreement\/#Partile_contractante_intr-un_contract_de_investitii\" title=\"P\u0103r\u021bile contractante \u00eentr-un contract de investi\u021bii\">P\u0103r\u021bile contractante \u00eentr-un contract de investi\u021bii<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/investment-contract-and-shareholder-agreement\/#Denumiri_comune_pentru_contractul_de_investitii\" title=\"Denumiri comune pentru contractul de investi\u021bii\">Denumiri comune pentru contractul de investi\u021bii<\/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\/ro\/general-corporate\/investment-contract-and-shareholder-agreement\/#Continutul_principal_al_contractului_de_investitii\" title=\"Con\u021binutul principal al contractului de investi\u021bii\">Con\u021binutul principal al contractului de investi\u021bii<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/investment-contract-and-shareholder-agreement\/#Ce_este_un_contract_intre_actionari\" title=\" Ce este un contract \u00eentre ac\u021bionari \"> Ce este un contract \u00eentre ac\u021bionari <\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/investment-contract-and-shareholder-agreement\/#Partile_contractante_intr-un_contract_intre_actionari\" title=\" P\u0103r\u021bile contractante \u00eentr-un contract \u00eentre ac\u021bionari \"> P\u0103r\u021bile contractante \u00eentr-un contract \u00eentre ac\u021bionari <\/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\/investment-contract-and-shareholder-agreement\/#Continutul_principal_al_contractului_intre_actionari\" title=\" Con\u021binutul principal al contractului \u00eentre ac\u021bionari \"> Con\u021binutul principal al contractului \u00eentre ac\u021bionari <\/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\/investment-contract-and-shareholder-agreement\/#La_urma_urmei_ce_tip_de_contracte_sunt_incheiate_atunci_cand_se_investeste\" title=\"La urma urmei, ce tip de contracte sunt \u00eencheiate atunci c\u00e2nd se investe\u0219te\">La urma urmei, ce tip de contracte sunt \u00eencheiate atunci c\u00e2nd se investe\u0219te<\/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\/investment-contract-and-shareholder-agreement\/#Cand_doar_contractul_de_investitii_este_incheiat\" title=\"C\u00e2nd doar contractul de investi\u021bii este \u00eencheiat\">C\u00e2nd doar contractul de investi\u021bii este \u00eencheiat<\/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\/investment-contract-and-shareholder-agreement\/#Cand_sunt_incheiate_contractul_de_investitii_si_contractul_dintre_actionari\" title=\"C\u00e2nd sunt \u00eencheiate contractul de investi\u021bii \u0219i contractul dintre ac\u021bionari\">C\u00e2nd sunt \u00eencheiate contractul de investi\u021bii \u0219i contractul dintre ac\u021bionari<\/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\/investment-contract-and-shareholder-agreement\/#Motivele_pentru_care_se_pot_presupune_mai_multe_tipuri_de_contracte_incheiate_atunci_cand_se_investeste\" title=\"Motivele pentru care se pot presupune mai multe tipuri de contracte \u00eencheiate atunci c\u00e2nd se investe\u0219te\">Motivele pentru care se pot presupune mai multe tipuri de contracte \u00eencheiate atunci c\u00e2nd se investe\u0219te<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/investment-contract-and-shareholder-agreement\/#Contractul_de_distributie_a_proprietatii\" title=\"Contractul de distribu\u021bie a propriet\u0103\u021bii\">Contractul de distribu\u021bie a propriet\u0103\u021bii<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/investment-contract-and-shareholder-agreement\/#Partile_contractante_in_contractul_de_distributie_a_proprietatii\" title=\"P\u0103r\u021bile contractante \u00een contractul de distribu\u021bie a propriet\u0103\u021bii\">P\u0103r\u021bile contractante \u00een contractul de distribu\u021bie a propriet\u0103\u021bii<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/investment-contract-and-shareholder-agreement\/#Denumirea_generala_a_contractului_de_distributie_a_proprietatii\" title=\"Denumirea general\u0103 a contractului de distribu\u021bie a propriet\u0103\u021bii\">Denumirea general\u0103 a contractului de distribu\u021bie a propriet\u0103\u021bii<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/investment-contract-and-shareholder-agreement\/#Continutul_principal_al_contractului_de_distributie_a_proprietatii\" title=\"Con\u021binutul principal al contractului de distribu\u021bie a propriet\u0103\u021bii\">Con\u021binutul principal al contractului de distribu\u021bie a propriet\u0103\u021bii<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/monolith.law\/ro\/general-corporate\/investment-contract-and-shareholder-agreement\/#Rezumat\" title=\"Rezumat\">Rezumat<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ce_este_un_contract_de_investitii\"><\/span>Ce este un contract de investi\u021bii<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Un contract de investi\u021bii este un acord care stabile\u0219te condi\u021biile principale de investi\u021bie atunci c\u00e2nd un investitor achizi\u021bioneaz\u0103 ac\u021biuni. Simplu spus, este un contract care stabile\u0219te condi\u021biile pentru un investitor, cum ar fi un VC, atunci c\u00e2nd achizi\u021bioneaz\u0103 ac\u021biuni.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Partile_contractante_intr-un_contract_de_investitii\"><\/span>P\u0103r\u021bile contractante \u00eentr-un contract de investi\u021bii<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u00centr-un contract de investi\u021bii, urm\u0103toarele trei p\u0103r\u021bi sunt considerate p\u0103r\u021bi contractante:<\/p>\n\n\n\n<ol>\n<li>Compania care emite ac\u021biuni<\/li>\n\n\n\n<li>Fondatorii ac\u021bionari<\/li>\n\n\n\n<li>Investitorul<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Denumiri_comune_pentru_contractul_de_investitii\"><\/span>Denumiri comune pentru contractul de investi\u021bii<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Contractul de investi\u021bii poate fi numit \u00een diferite moduri, de exemplu, poate fi numit dup\u0103 urm\u0103toarele titluri de contract:<\/p>\n\n\n\n<ol>\n<li>Contract de investi\u021bii<\/li>\n\n\n\n<li>Contract de subscrip\u021bie de ac\u021biuni<\/li>\n\n\n\n<li>Contract de subscrip\u021bie de obliga\u021biuni<\/li>\n\n\n\n<li>Contract de transfer de ac\u021biuni<\/li>\n<\/ol>\n\n\n\n<p>Denumirea contractului este doar o modalitate de a-l numi, \u0219i nu schimb\u0103 con\u021binutul acestuia.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Continutul_principal_al_contractului_de_investitii\"><\/span>Con\u021binutul principal al contractului de investi\u021bii<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Con\u021binutul unui contract de investi\u021bii include \u00een principal urm\u0103toarele:<\/p>\n\n\n\n<ul>\n<li>Con\u021binutul privind aspectele de baz\u0103 ale investi\u021biei<\/li>\n\n\n\n<li>Con\u021binutul privind condi\u021biile prealabile ale investi\u021biei<\/li>\n\n\n\n<li>Con\u021binutul privind ac\u021biunile<\/li>\n\n\n\n<li>Con\u021binutul privind gestionarea companiei<\/li>\n\n\n\n<li>Con\u021binutul privind divulgarea informa\u021biilor<\/li>\n\n\n\n<li>Con\u021binutul privind ie\u0219irea investitorului (Exit)<\/li>\n\n\n\n<li>Con\u021binutul privind clauzele generale<\/li>\n<\/ul>\n\n\n\n<p>Pentru detalii despre contractul de investi\u021bii, v\u0103 rug\u0103m s\u0103 consulta\u021bi articolul de mai jos.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/importance-and-necessity-of-investment-contract\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/importance-and-necessity-of-investment-contract[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ce_este_un_contract_intre_actionari\"><\/span> Ce este un contract \u00eentre ac\u021bionari <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Un contract \u00eentre ac\u021bionari este un acord care stabile\u0219te drepturile \u0219i obliga\u021biile principalelor p\u0103r\u021bi interesate \u0219i ale companiei emitente, precum \u0219i ale ac\u021bionarilor fondatori, dup\u0103 executarea investi\u021biei.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Partile_contractante_intr-un_contract_intre_actionari\"><\/span> P\u0103r\u021bile contractante \u00eentr-un contract \u00eentre ac\u021bionari <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u00cen cadrul unui contract de investi\u021bii, urm\u0103toarele trei p\u0103r\u021bi sunt considerate p\u0103r\u021bi contractante:<\/p>\n\n\n\n<ol>\n<li>Compania emitent\u0103 de ac\u021biuni<\/li>\n\n\n\n<li>Ac\u021bionarii fondatori<\/li>\n\n\n\n<li>Investitorii principali (de exemplu, VC)<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Continutul_principal_al_contractului_intre_actionari\"><\/span> Con\u021binutul principal al contractului \u00eentre ac\u021bionari <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Con\u021binutul unui contract \u00eentre ac\u021bionari include \u00een principal urm\u0103toarele aspecte:<\/p>\n\n\n\n<ul>\n<li>Aspecte legate de gestionarea companiei<\/li>\n\n\n\n<li>Aspecte legate de divulgarea informa\u021biilor<\/li>\n\n\n\n<li>Aspecte legate de ie\u0219irea investitorilor (Exit)<\/li>\n<\/ul>\n\n\n\n<p>Se poate crede c\u0103 con\u021binutul principal al contractului \u00eentre ac\u021bionari se suprapune cu cel al contractului de investi\u021bii. De fapt, este adev\u0103rat c\u0103 exist\u0103 o suprapunere \u00eentre contractul de investi\u021bii \u0219i contractul \u00eentre ac\u021bionari \u00een ceea ce prive\u0219te aspectele men\u021bionate ca fiind principale. Prin urmare, vom explica mai jos rela\u021bia dintre contractul de investi\u021bii \u0219i contractul \u00eentre ac\u021bionari.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"La_urma_urmei_ce_tip_de_contracte_sunt_incheiate_atunci_cand_se_investeste\"><\/span>La urma urmei, ce tip de contracte sunt \u00eencheiate atunci c\u00e2nd se investe\u0219te<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u00cenainte de a explica rela\u021bia dintre contractul de investi\u021bii \u0219i contractul dintre ac\u021bionari, voi explica mai \u00eent\u00e2i tipurile de contracte care sunt \u00eencheiate atunci c\u00e2nd se investe\u0219te.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cand_doar_contractul_de_investitii_este_incheiat\"><\/span>C\u00e2nd doar contractul de investi\u021bii este \u00eencheiat<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u00cen primul r\u00e2nd, se poate considera cazul \u00een care doar contractul de investi\u021bii este \u00eencheiat. \u00cen acest caz, singurul contract \u00eencheiat este contractul de investi\u021bii, deci este necesar s\u0103 include\u021bi toate informa\u021biile necesare \u00een con\u021binutul contractului de investi\u021bii. Prin urmare, de\u0219i depinde de caz, con\u021binutul va include majoritatea elementelor principale ale contractului de investi\u021bii men\u021bionate mai sus.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cand_sunt_incheiate_contractul_de_investitii_si_contractul_dintre_actionari\"><\/span>C\u00e2nd sunt \u00eencheiate contractul de investi\u021bii \u0219i contractul dintre ac\u021bionari<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u00cen continuare, se poate considera cazul \u00een care sunt \u00eencheiate contractul de investi\u021bii \u0219i contractul dintre ac\u021bionari. \u00cen acest caz, con\u021binutul legat de managementul companiei, divulgarea informa\u021biilor \u0219i ie\u0219irea investitorilor, prezentate mai sus, sunt, \u00een general, stipulate ca con\u021binut \u00een contractul dintre ac\u021bionari.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Motivele_pentru_care_se_pot_presupune_mai_multe_tipuri_de_contracte_incheiate_atunci_cand_se_investeste\"><\/span>Motivele pentru care se pot presupune mai multe tipuri de contracte \u00eencheiate atunci c\u00e2nd se investe\u0219te<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Mai sus, am prezentat cazurile \u00een care doar contractul de investi\u021bii este \u00eencheiat \u0219i cazurile \u00een care sunt \u00eencheiate contractul de investi\u021bii \u0219i contractul dintre ac\u021bionari, dar voi explica motivele pentru care se pot presupune mai multe tipuri de contracte. \u00cen primul r\u00e2nd, dac\u0103 ne g\u00e2ndim la cazul \u00een care doar contractul de investi\u021bii este \u00eencheiat, p\u0103r\u021bile contractante ale contractului de investi\u021bii sunt, a\u0219a cum am men\u021bionat mai devreme, compania care emite ac\u021biuni, ac\u021bionarii fondatori \u0219i investitorii. Contractul de investi\u021bii este un &#8220;contract&#8221;, deci oblig\u0103 doar p\u0103r\u021bile contractante, adic\u0103 compania care emite ac\u021biuni, ac\u021bionarii fondatori \u0219i investitorii. Prin urmare, chiar dac\u0103, de exemplu, compania care emite ac\u021biuni, ac\u021bionarii fondatori \u0219i investitorii au convenit s\u0103 numeasc\u0103 un investitor ca director, dac\u0103 procentajul de ac\u021biuni de\u021binute de ac\u021bionarii fondatori \u0219i investitori nu atinge majoritatea, nu se poate numi un investitor ca director doar cu ac\u021bionarii fondatori \u0219i investitorii.<\/p>\n\n\n\n<p>A\u0219adar, doar cu contractul de investi\u021bii, nu se pot obliga al\u021bi ac\u021bionari prin for\u021ba contractului \u0219i nu se poate face fa\u021b\u0103 situa\u021biilor \u00een care ar fi inconvenient dac\u0103 nu se aplic\u0103 for\u021ba contractului altor ac\u021bionari \u0219i nu se includ ace\u0219tia ca p\u0103r\u021bi contractante.<\/p>\n\n\n\n<p>Prin urmare, contractul \u00eencheiat este contractul dintre ac\u021bionari. P\u0103r\u021bile contractante ale contractului dintre ac\u021bionari sunt, a\u0219a cum am explicat mai sus, compania care emite ac\u021biuni, ac\u021bionarii fondatori \u0219i principalii investitori (VC etc.) \u0219i al\u021bi ac\u021bionari. \u00cen contractul dintre ac\u021bionari, deoarece principalii investitori (VC etc.) \u0219i al\u021bi ac\u021bionari sunt inclu\u0219i ca p\u0103r\u021bi contractante, se poate aplica for\u021ba contractului altor ac\u021bionari \u0219i se poate atinge un procentaj majoritar de ac\u021biuni prin for\u021ba contractului. Din aceste motive, dac\u0103 nu este necesar s\u0103 se oblige al\u021bi ac\u021bionari ca p\u0103r\u021bi contractante, se \u00eencheie contractul de investi\u021bii, iar dac\u0103 este necesar s\u0103 se oblige al\u021bi ac\u021bionari ca p\u0103r\u021bi contractante, se \u00eencheie contractul dintre ac\u021bionari.<\/p>\n\n\n\n<p>Totu\u0219i, de exemplu, dac\u0103 exist\u0103 doar c\u00e2\u021biva investitori \u0219i nu este o problem\u0103 dac\u0103 nu se oblig\u0103 al\u021bi ac\u021bionari ca p\u0103r\u021bi contractante, contractul dintre ac\u021bionari nu este \u00eencheiat \u0219i doar contractul de investi\u021bii este \u00eencheiat. Acest lucru se datoreaz\u0103 faptului c\u0103 se poate atinge obiectivul doar prin \u00eencheierea contractului de investi\u021bii \u0219i riscul de a deveni un litigiu mai t\u00e2rziu este sc\u0103zut. \u00cen plus, se poate simplifica procedura.<\/p>\n\n\n\n<p>A\u0219adar, \u00een func\u021bie de dimensiunea companiei, procentajul de ac\u021biuni de\u021binute, convenien\u021ba procedurii etc., se pot presupune mai multe tipuri de contracte \u00eencheiate atunci c\u00e2nd se investe\u0219te.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Contractul_de_distributie_a_proprietatii\"><\/span>Contractul de distribu\u021bie a propriet\u0103\u021bii<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Atunci c\u00e2nd investitorii, cum ar fi VC (Capitalul de Risc), fac o investi\u021bie, se poate \u00eencheia un contract de distribu\u021bie a propriet\u0103\u021bii. Contractul de distribu\u021bie a propriet\u0103\u021bii se refer\u0103 la un contract care stabile\u0219te probleme legate de Exit prin M&amp;A, care implic\u0103 o schimbare a drepturilor de control al managementului.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Partile_contractante_in_contractul_de_distributie_a_proprietatii\"><\/span>P\u0103r\u021bile contractante \u00een contractul de distribu\u021bie a propriet\u0103\u021bii<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u00cen contractul de distribu\u021bie a propriet\u0103\u021bii, urm\u0103toarele trei p\u0103r\u021bi sunt considerate p\u0103r\u021bi contractante:<\/p>\n\n\n\n<ol>\n<li>Compania care emite ac\u021biuni<\/li>\n\n\n\n<li>Fondatorii ac\u021bionari<\/li>\n\n\n\n<li>To\u021bi ac\u021bionarii<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Denumirea_generala_a_contractului_de_distributie_a_proprietatii\"><\/span>Denumirea general\u0103 a contractului de distribu\u021bie a propriet\u0103\u021bii<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Contractul de distribu\u021bie a propriet\u0103\u021bii poate fi numit \u00een diferite moduri, de exemplu, poate fi numit cu urm\u0103toarele nume de contract:<\/p>\n\n\n\n<ol>\n<li>Contractul de distribu\u021bie a propriet\u0103\u021bii<\/li>\n\n\n\n<li>Acordul privind distribu\u021bia ac\u021bionarilor legat\u0103 de achizi\u021bie<\/li>\n\n\n\n<li>Acordul \u00eentre ac\u021bionari<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Continutul_principal_al_contractului_de_distributie_a_proprietatii\"><\/span>Con\u021binutul principal al contractului de distribu\u021bie a propriet\u0103\u021bii<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Con\u021binutul contractului de distribu\u021bie a propriet\u0103\u021bii include \u00een principal urm\u0103toarele:<\/p>\n\n\n\n<ul>\n<li>Con\u021binutul legat de dreptul de a solicita v\u00e2nzarea simultan\u0103<\/li>\n\n\n\n<li>Con\u021binutul legat de lichidarea presupus\u0103<\/li>\n<\/ul>\n\n\n\n<p>Contractul de distribu\u021bie a propriet\u0103\u021bii, a\u0219a cum sugereaz\u0103 \u0219i numele, este un contract legat de distribu\u021bia propriet\u0103\u021bii, deci este necesar s\u0103 se lege p\u0103r\u021bile implicate \u00een distribu\u021bia propriet\u0103\u021bii ca p\u0103r\u021bi contractante. Prin urmare, o caracteristic\u0103 important\u0103 este c\u0103 to\u021bi ac\u021bionarii, inclusiv \u00eengerii \u0219i ac\u021bionarii angaja\u021bilor, devin p\u0103r\u021bi contractante.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/investment-contract-liquidation-provision\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/investment-contract-liquidation-provision[ja]<\/a><\/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 rela\u021bia dintre contractele de investi\u021bii \u0219i contractele dintre ac\u021bionari. Este esen\u021bial s\u0103 \u00een\u021belegem bine ce prevede fiecare dintre aceste contracte \u0219i rela\u021bia dintre ele. \u00cen func\u021bie de contract, este important s\u0103 se determine care p\u0103r\u021bi sunt adecvate pentru a fi obligate, at\u00e2t pentru companii c\u00e2t \u0219i pentru investitori, cum ar fi VC. Prin urmare, este important s\u0103 verific\u0103m cu aten\u021bie cine sunt p\u0103r\u021bile atunci c\u00e2nd \u00eencheiem un contract. Cuno\u0219tin\u021bele juridice specializate sunt esen\u021biale pentru contractele de investi\u021bii \u0219i contractele dintre ac\u021bionari, a\u0219a c\u0103 este recomandabil s\u0103 solicita\u021bi sfaturi de la un avocat atunci c\u00e2nd le crea\u021bi sau le \u00eencheia\u021bi.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>C\u00e2nd lucra\u021bi cu companii de tip start-up, s-ar putea s\u0103 observa\u021bi c\u0103, atunci c\u00e2nd VC \u0219i al\u021bii investesc, uneori se \u00eencheie doar un contract de investi\u021bii, \u00een timp ce alteori se \u00eencheie at\u00e2t un contrac [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":64345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[24,28],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/posts\/62865"}],"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=62865"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/posts\/62865\/revisions"}],"predecessor-version":[{"id":64346,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/posts\/62865\/revisions\/64346"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/media\/64345"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/media?parent=62865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/categories?post=62865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/ro\/wp-json\/wp\/v2\/tags?post=62865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}