{"id":61104,"date":"2023-12-04T11:16:10","date_gmt":"2023-12-04T02:16:10","guid":{"rendered":"https:\/\/monolith.law\/tr\/?p=61104"},"modified":"2024-03-15T22:54:12","modified_gmt":"2024-03-15T13:54:12","slug":"jkiss-investment-contract","status":"publish","type":"post","link":"https:\/\/monolith.law\/tr\/general-corporate\/jkiss-investment-contract","title":{"rendered":"J-KISS ile Yat\u0131r\u0131m Al\u0131rken Kullan\u0131lan S\u00f6zle\u015fme \u015eartlar\u0131 (Term Sheet) Nedir?"},"content":{"rendered":"\n<p>\u00d6ncelikle, tohum a\u015famas\u0131ndaki start-up&#8217;lara yat\u0131r\u0131m yapmay\u0131 h\u0131zl\u0131 ve kolay bir \u015fekilde ger\u00e7ekle\u015ftirebilece\u011finiz bir mekanizma olan Japon KISS (J-KISS) hakk\u0131nda konu\u015fal\u0131m. Avukatlar ve di\u011fer uzmanlar taraf\u0131ndan denetlenen yat\u0131r\u0131m s\u00f6zle\u015fmesi \u015fablonlar\u0131 bu sistem i\u00e7in haz\u0131rlanm\u0131\u015ft\u0131r. Bu nedenle, ger\u00e7ekten J-KISS ile yat\u0131r\u0131m al\u0131rken, yat\u0131r\u0131mc\u0131lar ve start-up&#8217;lar aras\u0131nda m\u00fczakere edilmesi ve kararla\u015ft\u0131r\u0131lmas\u0131 gereken konular, yani terim sayfas\u0131ndaki maddeler \u00e7ok fazla de\u011fildir. Bu ba\u011flamda, J-KISS kullan\u0131larak yap\u0131lan yat\u0131r\u0131m projelerinde terim sayfas\u0131nda kararla\u015ft\u0131r\u0131lmas\u0131 gereken konular nelerdir ve m\u00fczakerelerde nelere dikkat edilmesi gerekti\u011fi hakk\u0131nda bilgi verelim.<\/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\/tr\/general-corporate\/jkiss-investment-contract\/#J-KISS%E2%80%99teki_Yatirim_Sozlesmesi_ve_Term_Sheet\" title=\"J-KISS&#8217;teki Yat\u0131r\u0131m S\u00f6zle\u015fmesi ve Term Sheet\">J-KISS&#8217;teki Yat\u0131r\u0131m S\u00f6zle\u015fmesi ve Term Sheet<\/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\/tr\/general-corporate\/jkiss-investment-contract\/#J-KISS_Yatiriminin_Term_Sheet_Uzerinde_Kararlastirilmasi_Gereken_Hususlar\" title=\"J-KISS Yat\u0131r\u0131m\u0131n\u0131n Term Sheet \u00dczerinde Kararla\u015ft\u0131r\u0131lmas\u0131 Gereken Hususlar\">J-KISS Yat\u0131r\u0131m\u0131n\u0131n Term Sheet \u00dczerinde Kararla\u015ft\u0131r\u0131lmas\u0131 Gereken Hususlar<\/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\/tr\/general-corporate\/jkiss-investment-contract\/#Seri_A_Fon_Toplama_Miktari_Yeni_Hisselerin_Donusturme_Tetikleyicisi_Olur\" title=\"Seri A Fon Toplama Miktar\u0131, Yeni Hisselerin D\u00f6n\u00fc\u015ft\u00fcrme Tetikleyicisi Olur\">Seri A Fon Toplama Miktar\u0131, Yeni Hisselerin D\u00f6n\u00fc\u015ft\u00fcrme Tetikleyicisi Olur<\/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\/tr\/general-corporate\/jkiss-investment-contract\/#Degerleme_Kapagi_Olarak_Kullanilan_Donusum_Miktarinda_Degerlendirme_Tavani\" title=\"De\u011ferleme Kapa\u011f\u0131 Olarak Kullan\u0131lan D\u00f6n\u00fc\u015f\u00fcm Miktar\u0131nda De\u011ferlendirme Tavan\u0131\">De\u011ferleme Kapa\u011f\u0131 Olarak Kullan\u0131lan D\u00f6n\u00fc\u015f\u00fcm Miktar\u0131nda De\u011ferlendirme Tavan\u0131<\/a><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/jkiss-investment-contract\/#Degerleme_Kapagi_Kullanilarak_Donusum_Miktarinin_Hesaplanmasi\" title=\"De\u011ferleme Kapa\u011f\u0131 Kullan\u0131larak D\u00f6n\u00fc\u015f\u00fcm Miktar\u0131n\u0131n Hesaplanmas\u0131\">De\u011ferleme Kapa\u011f\u0131 Kullan\u0131larak D\u00f6n\u00fc\u015f\u00fcm Miktar\u0131n\u0131n Hesaplanmas\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/jkiss-investment-contract\/#Degerleme_Kapaginin_Belirlenmesi\" title=\"De\u011ferleme Kapa\u011f\u0131n\u0131n Belirlenmesi\">De\u011ferleme Kapa\u011f\u0131n\u0131n Belirlenmesi<\/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-7\" href=\"https:\/\/monolith.law\/tr\/general-corporate\/jkiss-investment-contract\/#Ozet\" title=\"\u00d6zet\">\u00d6zet<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"J-KISS%E2%80%99teki_Yatirim_Sozlesmesi_ve_Term_Sheet\"><\/span>J-KISS&#8217;teki Yat\u0131r\u0131m S\u00f6zle\u015fmesi ve Term Sheet<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>J-KISS, tohum a\u015famas\u0131ndaki bir startup&#8217;\u0131n giri\u015fim sermayesi gibi kaynaklardan yat\u0131r\u0131m alabilmesi i\u00e7in basit ve h\u0131zl\u0131 bir \u015fekilde tasarlanm\u0131\u015f ve ayr\u0131ca Coral Capital (eski 500 Startups Japan) taraf\u0131ndan yat\u0131r\u0131m s\u00f6zle\u015fmesi \u015fablonunu \u00fccretsiz olarak yay\u0131nlad\u0131\u011f\u0131 bir fonlama mekanizmas\u0131d\u0131r. En b\u00fcy\u00fck \u00f6zelli\u011fi, yat\u0131r\u0131m hedefinin hisse senetleri yerine yeni hisse senedi opsiyonlar\u0131 olmas\u0131d\u0131r.<\/p>\n\n\n\n<p>Yeni hisse senedi opsiyonlar\u0131na yat\u0131r\u0131m yaparak, hisse senedi \u00e7\u0131kar\u0131rken gereken karma\u015f\u0131k i\u015flemleri atlayabilir ve tohum a\u015famas\u0131ndaki bir \u015firketin de\u011ferlemesini (valuasyon) gelece\u011fe erteleyebilirsiniz. Tohum a\u015famas\u0131nda \u015firket de\u011ferlemesi zaten zordur, bu y\u00fczden bunu erteleyebilmek hem yat\u0131r\u0131m alan startuplar hem de yat\u0131r\u0131mc\u0131lar i\u00e7in bir avantajd\u0131r.<\/p>\n\n\n\n<p>J-KISS&#8217;in yat\u0131r\u0131m hedefinin yeni hisse senedi opsiyonlar\u0131 olmas\u0131, yat\u0131r\u0131m s\u00f6zle\u015fmesinin i\u00e7eri\u011fini de etkiler. Genel olarak, bir startup&#8217;\u0131n fonlama ihtiyac\u0131 hisse senedi \u00e7\u0131kararak kar\u015f\u0131lan\u0131r ve bu t\u00fcr bir hisse senedi yat\u0131r\u0131m\u0131 ile ilgili s\u00f6zle\u015fmeler genellikle hisse senedi al\u0131m s\u00f6zle\u015fmesi ve hissedarlar aras\u0131 s\u00f6zle\u015fme olarak olu\u015fturulur.<\/p>\n\n\n\n<p>Hisse senedi al\u0131m s\u00f6zle\u015fmesi, yat\u0131r\u0131mc\u0131n\u0131n bir startup&#8217;a yat\u0131r\u0131m yapaca\u011f\u0131 miktar\u0131 ve kar\u015f\u0131l\u0131\u011f\u0131nda alaca\u011f\u0131 hisse senetlerini belirleyen bir s\u00f6zle\u015fmedir ve s\u00f6zle\u015fme taraflar\u0131 yat\u0131r\u0131mc\u0131 ve startup olur. Hissedarlar aras\u0131 s\u00f6zle\u015fme ise, ad\u0131ndan da anla\u015f\u0131laca\u011f\u0131 gibi, hissedarlar aras\u0131nda yap\u0131lan bir s\u00f6zle\u015fmedir ve yat\u0131r\u0131m yap\u0131lan startup&#8217;\u0131n y\u00f6netimi hakk\u0131nda \u00f6nemli konular\u0131 belirlemek ve yat\u0131r\u0131mc\u0131n\u0131n belirli bir kontrol sa\u011flamak amac\u0131yla yap\u0131lan bir s\u00f6zle\u015fmedir.<\/p>\n\n\n\n<p>\u00c7o\u011fu durumda, bir startup&#8217;\u0131n kurucusu %50&#8217;den fazla hissedar olur. Ve \u015firket hukuku gere\u011fi, %50&#8217;den fazla hisse sahibi olan bir hissedar, belirli \u00f6nemli konular d\u0131\u015f\u0131nda, \u015firketin y\u00f6netimine ili\u015fkin kararlar\u0131 di\u011fer hissedarlar\u0131n onay\u0131n\u0131 almadan alabilir. Ancak, bir startup&#8217;a yat\u0131r\u0131m yapan yat\u0131r\u0131mc\u0131lar genellikle hisse oran\u0131na bak\u0131lmaks\u0131z\u0131n y\u00f6netimde belirli bir etkinlik talep ederler. Bu t\u00fcr bir yat\u0131r\u0131mc\u0131n\u0131n hedeflerine ula\u015fmak i\u00e7in, mevcut hissedarlarla, kurucular dahil, hissedarlar aras\u0131 bir s\u00f6zle\u015fme yap\u0131lmal\u0131 ve belirli \u00f6nemli konular hakk\u0131nda \u00f6nceden onay al\u0131nmas\u0131 gibi konular belirlenmelidir.<\/p>\n\n\n\n<p>Genel yat\u0131r\u0131m s\u00f6zle\u015fmeleri hakk\u0131nda ayr\u0131nt\u0131l\u0131 bilgi a\u015fa\u011f\u0131daki makalelerde bulunabilir:<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/investment-contract-and-shareholder-agreement\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/investment-contract-and-shareholder-agreement[ja]<\/a><\/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<p>Bu \u015fekilde, bir startup&#8217;\u0131n hisse senetleri ile fonlama yapmaya \u00e7al\u0131\u015ft\u0131\u011f\u0131nda, gereken yat\u0131r\u0131m s\u00f6zle\u015fmesi genellikle uzun olur. Buna kar\u015f\u0131l\u0131k, J-KISS&#8217;in yat\u0131r\u0131m hedefi hisse senetleri de\u011fil yeni hisse senedi opsiyonlar\u0131 oldu\u011fu i\u00e7in, hisse senetleri kadar \u00e7ok konuyu belirlemeye gerek yoktur. Bu nedenle, J-KISS&#8217;i kullanarak yat\u0131r\u0131m almak isteyenler i\u00e7in s\u00f6zle\u015fme m\u00fczakereleri minimum d\u00fczeyde olabilir ve Term Sheet \u00fczerinde belirlenmesi gereken konular\u0131n say\u0131s\u0131 \u00e7ok azd\u0131r.<\/p>\n\n\n\n<p>J-KISS hakk\u0131nda genel bilgi a\u015fa\u011f\u0131daki makalede bulunabilir:<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/corporate\/financing-mechanism-j-kiss\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/corporate\/financing-mechanism-j-kiss[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"J-KISS_Yatiriminin_Term_Sheet_Uzerinde_Kararlastirilmasi_Gereken_Hususlar\"><\/span>J-KISS Yat\u0131r\u0131m\u0131n\u0131n Term Sheet \u00dczerinde Kararla\u015ft\u0131r\u0131lmas\u0131 Gereken Hususlar<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\/05\/shutterstock_1466352383-1024x683.jpg\" alt=\"\" class=\"wp-image-9554\" \/><\/figure>\n\n\n\n<p>J-KISS yat\u0131r\u0131m\u0131nda, yat\u0131r\u0131mc\u0131 ve startup aras\u0131ndaki m\u00fczakereler sonucunda, Term Sheet \u00fczerinde kararla\u015ft\u0131r\u0131lmas\u0131 gereken hususlar a\u015fa\u011f\u0131daki gibidir:<\/p>\n\n\n\n<ul>\n<li> Seri A fon toplama miktar\u0131, yeni hisse senedi opsiyonlar\u0131n\u0131n d\u00f6n\u00fc\u015ft\u00fcrme tetikleyicisi olur <\/li>\n\n\n\n<li> D\u00f6n\u00fc\u015f\u00fcm miktar\u0131nda de\u011ferlendirme tavan\u0131 olarak kullan\u0131lan de\u011ferleme kapa\u011f\u0131 <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Seri_A_Fon_Toplama_Miktari_Yeni_Hisselerin_Donusturme_Tetikleyicisi_Olur\"><\/span>Seri A Fon Toplama Miktar\u0131, Yeni Hisselerin D\u00f6n\u00fc\u015ft\u00fcrme Tetikleyicisi Olur<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>J-KISS&#8217;te, Seri A&#8217;da fon topland\u0131\u011f\u0131nda, yeni hisse senedi opsiyonlar\u0131 hisseye d\u00f6n\u00fc\u015ft\u00fcr\u00fcl\u00fcr. Yani, Seri A&#8217;n\u0131n fon toplama miktar\u0131 yeni hisse senedi opsiyonlar\u0131n\u0131n d\u00f6n\u00fc\u015ft\u00fcrme tetikleyicisi olur.<\/p>\n\n\n\n<p>Sorun, yeni hisse senedi opsiyonlar\u0131n\u0131n d\u00f6n\u00fc\u015ft\u00fcrme tetikleyicisi olan Seri A&#8217;n\u0131n fon toplama miktar\u0131d\u0131r. J-KISS \u015fablonunda bu miktar 100 milyon yen olarak belirlenmi\u015ftir, bu nedenle bu miktar bir \u00f6l\u00e7\u00fct olarak kabul edilir, ancak i\u015fletme i\u00e7eri\u011fi gibi fakt\u00f6rlere ba\u011fl\u0131 olarak d\u00f6n\u00fc\u015ft\u00fcrme tetikleyicisi olarak kabul edilecek fon toplama miktar\u0131 de\u011fi\u015febilir. Asl\u0131nda, J-KISS&#8217;in yat\u0131r\u0131m hedefini bilin\u00e7li olarak yeni hisse senedi opsiyonlar\u0131 olarak belirlemesinin nedenlerinden biri, \u015firket de\u011ferlendirmesini Seri A&#8217;ya kadar ertelemekti. E\u011fer \u00f6yleyse, d\u00f6n\u00fc\u015ft\u00fcrme tetikleyicisi olan Seri A&#8217;n\u0131n fon toplama miktar\u0131n\u0131 belirlerken, en az\u0131ndan startup&#8217;\u0131n \u015firket de\u011ferlendirmesinin m\u00fcmk\u00fcn oldu\u011fu bir a\u015famada b\u00fcy\u00fcd\u00fc\u011f\u00fcn\u00fc dikkate almak gerekmektedir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Degerleme_Kapagi_Olarak_Kullanilan_Donusum_Miktarinda_Degerlendirme_Tavani\"><\/span>De\u011ferleme Kapa\u011f\u0131 Olarak Kullan\u0131lan D\u00f6n\u00fc\u015f\u00fcm Miktar\u0131nda De\u011ferlendirme Tavan\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Degerleme_Kapagi_Kullanilarak_Donusum_Miktarinin_Hesaplanmasi\"><\/span>De\u011ferleme Kapa\u011f\u0131 Kullan\u0131larak D\u00f6n\u00fc\u015f\u00fcm Miktar\u0131n\u0131n Hesaplanmas\u0131<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>J-KISS&#8217;teki yeni hisse senedi opsiyonlar\u0131n\u0131n d\u00f6n\u00fc\u015f\u00fcm miktar\u0131, Seri A&#8217;n\u0131n fon toplama s\u00fcrecinde \u00e7\u0131kar\u0131lan hisselerin al\u0131m fiyat\u0131na belirli bir indirim uygulayarak hesaplan\u0131r. Ancak, sadece indirimli hesaplama y\u00f6ntemi kullan\u0131l\u0131rsa, J-KISS yat\u0131r\u0131mc\u0131lar\u0131 i\u00e7in, d\u00f6n\u00fc\u015f\u00fcm an\u0131ndaki \u015firket de\u011feri ne kadar y\u00fcksek olursa, elde edilebilecek hisse say\u0131s\u0131 o kadar az olur. Bu durum, \u015firket de\u011ferini art\u0131rmak isteyen startup&#8217;lar\u0131n ve J-KISS yat\u0131r\u0131mc\u0131lar\u0131n\u0131n \u00e7\u0131karlar\u0131n\u0131n \u00e7at\u0131\u015fabilece\u011fi bir durum yarat\u0131r. Bu nedenle, J-KISS&#8217;te sadece indirimli hesaplama y\u00f6ntemi de\u011fil, ayn\u0131 zamanda de\u011ferleme kapa\u011f\u0131 (\u015firket de\u011ferlendirmesinin tavan\u0131) kullan\u0131larak d\u00f6n\u00fc\u015f\u00fcm miktar\u0131n\u0131n hesaplanmas\u0131 y\u00f6ntemi de kullan\u0131labilir.<\/p>\n\n\n\n<p>\u00d6zellikle, yat\u0131r\u0131m s\u00f6zle\u015fmesinde de\u011ferleme kapa\u011f\u0131n\u0131 belirleyin ve Seri A&#8217;n\u0131n fon toplama s\u00fcrecinden hemen \u00f6nce \u00e7\u0131kar\u0131lan toplam hisse say\u0131s\u0131n\u0131 de\u011ferleme kapa\u011f\u0131na b\u00f6lerek elde edilen miktar\u0131 d\u00f6n\u00fc\u015f\u00fcm miktar\u0131 olarak kullan\u0131n.<\/p>\n\n\n\n<p>Seri A&#8217;n\u0131n fon toplama s\u00fcrecinden hemen \u00f6nce \u00e7\u0131kar\u0131lan toplam hisse say\u0131s\u0131 tek bir de\u011fer olarak belirlendi\u011finden, de\u011ferleme kapa\u011f\u0131 kullan\u0131larak d\u00f6n\u00fc\u015f\u00fcm miktar\u0131n\u0131n hesaplanmas\u0131 y\u00f6ntemini kullan\u0131yorsan\u0131z, J-KISS yat\u0131r\u0131m s\u00f6zle\u015fmesi m\u00fczakerelerinde kararla\u015ft\u0131r\u0131lmas\u0131 gereken konu de\u011ferleme kapa\u011f\u0131n\u0131n miktar\u0131 olacakt\u0131r.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Degerleme_Kapaginin_Belirlenmesi\"><\/span>De\u011ferleme Kapa\u011f\u0131n\u0131n Belirlenmesi<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>De\u011ferleme kapa\u011f\u0131n\u0131n miktar\u0131, J-KISS yat\u0131r\u0131mc\u0131s\u0131n\u0131n sahip olabilece\u011fi hisse say\u0131s\u0131n\u0131 belirler. Bu nedenle, yat\u0131r\u0131mc\u0131 ve startup, yat\u0131r\u0131mc\u0131n\u0131n en az ka\u00e7 hisse sahip olmas\u0131 gerekti\u011fini de dikkate alarak de\u011ferleme kapa\u011f\u0131n\u0131 belirlemelidir.<\/p>\n\n\n\n<p>Ayr\u0131ca, de\u011ferleme kapa\u011f\u0131n\u0131n miktar\u0131 yat\u0131r\u0131mc\u0131 ve startup aras\u0131ndaki m\u00fczakereler sonucunda belirlendi\u011finden, kurucunun \u00fcnl\u00fc olup olmad\u0131\u011f\u0131, startup&#8217;\u0131n yat\u0131r\u0131mc\u0131lardan ne kadar pop\u00fcler oldu\u011fu gibi fakt\u00f6rler de miktar\u0131 etkileyebilir. Ancak, de\u011ferleme ne kadar y\u00fcksek olursa o kadar iyi de\u011fildir. Ba\u015flang\u0131\u00e7taki de\u011ferleme \u00e7ok y\u00fcksekse, sonraki turda fon toplama zorla\u015fabilir, bu nedenle dikkatli olunmal\u0131d\u0131r. Bu de\u011ferleme kapa\u011f\u0131 m\u00fczakeresi, J-KISS yat\u0131r\u0131m\u0131n\u0131n en b\u00fcy\u00fck cazibesi olacakt\u0131r.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ozet\"><\/span>\u00d6zet<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bu \u015fekilde, J-KISS&#8217;in (Japon Basitle\u015ftirilmi\u015f Yat\u0131r\u0131m S\u00f6zle\u015fmesi) \u00f6zellikleri aras\u0131nda, yat\u0131r\u0131m s\u0131ras\u0131nda belirlenmesi gereken maddelerin say\u0131s\u0131n\u0131n term sheet \u00fczerinde \u00e7ok az olmas\u0131 ve s\u00f6zle\u015fme m\u00fczakerelerinin minimumda olmas\u0131 gerekti\u011fi yer al\u0131r.<\/p>\n\n\n\n<p>J-KISS yat\u0131r\u0131m\u0131 ile yat\u0131r\u0131mc\u0131n\u0131n elde etti\u011fi yeni hisse senedi opsiyonlar\u0131, daha sonra Seri A&#8217;da (Birinci Tur Yat\u0131r\u0131m) normal hisse senetlerine d\u00f6n\u00fc\u015ft\u00fcr\u00fcl\u00fcr. Dolay\u0131s\u0131yla, d\u00f6n\u00fc\u015f\u00fcm ko\u015fullar\u0131 ve d\u00f6n\u00fc\u015ft\u00fcr\u00fcld\u00fckten sonra yat\u0131r\u0131mc\u0131n\u0131n sahip olaca\u011f\u0131 hisse senedi say\u0131s\u0131 \u00f6nemli bir m\u00fczakere noktas\u0131d\u0131r. \u00d6zellikle, kurucu olmayan yat\u0131r\u0131mc\u0131lar\u0131n hisse oran\u0131, gelecekteki sermaye politikalar\u0131n\u0131 etkileyece\u011fi i\u00e7in, start-up&#8217;lar i\u00e7in detayl\u0131 bir inceleme gereklidir. Hangi m\u00fczakerelerin yap\u0131lmas\u0131 gerekti\u011fi, yat\u0131r\u0131mc\u0131n\u0131n \u00f6zellikleri ve start-up&#8217;\u0131n i\u015f i\u00e7eri\u011fi gibi fakt\u00f6rlere ba\u011fl\u0131 olarak de\u011fi\u015fir, bu y\u00fczden ger\u00e7ekten J-KISS yat\u0131r\u0131m\u0131 al\u0131rken bir avukat veya uzmana dan\u0131\u015fman\u0131z\u0131 \u00f6neririz.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00d6ncelikle, tohum a\u015famas\u0131ndaki start-up&#8217;lara yat\u0131r\u0131m yapmay\u0131 h\u0131zl\u0131 ve kolay bir \u015fekilde ger\u00e7ekle\u015ftirebilece\u011finiz bir mekanizma olan Japon KISS (J-KISS) hakk\u0131nda konu\u015fal\u0131m. Avukatlar ve di\u011fer uzma [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":63787,"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\/tr\/wp-json\/wp\/v2\/posts\/61104"}],"collection":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/comments?post=61104"}],"version-history":[{"count":3,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61104\/revisions"}],"predecessor-version":[{"id":63788,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/61104\/revisions\/63788"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media\/63787"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media?parent=61104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/categories?post=61104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/tags?post=61104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}