{"id":59824,"date":"2023-10-27T15:44:52","date_gmt":"2023-10-27T06:44:52","guid":{"rendered":"https:\/\/monolith.law\/vi\/?p=59824"},"modified":"2023-11-08T11:30:33","modified_gmt":"2023-11-08T02:30:33","slug":"investment-contract-shares-provision","status":"publish","type":"post","link":"https:\/\/monolith.law\/vi\/general-corporate\/investment-contract-shares-provision","title":{"rendered":"\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0 l\u00e0 g\u00ec"},"content":{"rendered":"\n<p>N\u1ed9i dung h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0 quy \u0111\u1ecbnh nhi\u1ec1u \u0111i\u1ec1u kho\u1ea3n kh\u00e1c nhau, trong \u0111\u00f3 c\u00f3 th\u1ec3 c\u00f3 \u0111i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu.<\/p>\n\n\n\n<p>\u0110i\u1ec1u kho\u1ea3n v\u1ec1 c\u1ed5 phi\u1ebfu, t\u1eeb g\u00f3c \u0111\u1ed9 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0, l\u00e0 nh\u1eefng \u0111i\u1ec1u li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu m\u00e0 h\u1ecd nh\u1eadn l\u00e0m \u0111\u1ed1i t\u00e1c cho kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh, v\u00e0 l\u00e0 m\u1ed9t trong nh\u1eefng \u0111i\u1ec1u kho\u1ea3n quan tr\u1ecdng trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0. \u0110\u1ed3ng th\u1eddi, t\u1eeb g\u00f3c \u0111\u1ed9 c\u1ee7a c\u00f4ng ty, \u0111\u00e2y c\u0169ng l\u00e0 m\u1ed9t \u0111i\u1ec1u kho\u1ea3n c\u1ea7n \u0111\u01b0\u1ee3c quy \u0111\u1ecbnh c\u1ea9n th\u1eadn, v\u00ec n\u00f3 li\u00ean quan \u0111\u1ebfn t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n c\u1ee7a ban l\u00e3nh \u0111\u1ea1o v\u00e0 ng\u0103n ch\u1eb7n vi\u1ec7c c\u1ed5 phi\u1ebfu r\u01a1i v\u00e0o tay b\u00ean ngo\u00e0i. V\u00ec v\u1eady, trong b\u00e0i vi\u1ebft n\u00e0y, ch\u00fang t\u00f4i s\u1ebd gi\u1ea3i th\u00edch v\u1ec1 \u0111i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30b5\u30a4\u30c8\uff08\u30d9\u30c8\u30ca\u30e0\u8a9e\uff09 wp-block-embed-\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30b5\u30a4\u30c8\uff08\u30d9\u30c8\u30ca\u30e0\u8a9e\uff09\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"NT83BUWu7J\"><a href=\"https:\/\/monolith.law\/vi\/general-corporate\/importance-and-necessity-of-investment-contract\">\u0110\u1ea7u t\u01b0 h\u1ee3p \u0111\u1ed3ng l\u00e0 g\u00ec? S\u1ef1 c\u1ea7n thi\u1ebft c\u1ee7a vi\u1ec7c k\u00fd k\u1ebft h\u1ee3p \u0111\u1ed3ng \u0111\u1ed1i v\u1edbi doanh nghi\u1ec7p<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;\u0110\u1ea7u t\u01b0 h\u1ee3p \u0111\u1ed3ng l\u00e0 g\u00ec? S\u1ef1 c\u1ea7n thi\u1ebft c\u1ee7a vi\u1ec7c k\u00fd k\u1ebft h\u1ee3p \u0111\u1ed3ng \u0111\u1ed1i v\u1edbi doanh nghi\u1ec7p&#8221; &#8212; \u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30b5\u30a4\u30c8\uff08\u30d9\u30c8\u30ca\u30e0\u8a9e\uff09\" src=\"https:\/\/monolith.law\/vi\/general-corporate\/importance-and-necessity-of-investment-contract\/embed#?secret=VYL02qeqOE#?secret=NT83BUWu7J\" data-secret=\"NT83BUWu7J\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\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\/vi\/general-corporate\/investment-contract-shares-provision\/#Dieu_khoan_lien_quan_den_co_phieu_trong_hop_dong_dau_tu\" title=\"\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0\">\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0<\/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\/vi\/general-corporate\/investment-contract-shares-provision\/#Dieu_khoan_ve_viec_uu_tien_mua_co_phieu_moi_phat_hanh\" title=\"\u0110i\u1ec1u kho\u1ea3n v\u1ec1 vi\u1ec7c \u01b0u ti\u00ean mua c\u1ed5 phi\u1ebfu m\u1edbi ph\u00e1t h\u00e0nh\">\u0110i\u1ec1u kho\u1ea3n v\u1ec1 vi\u1ec7c \u01b0u ti\u00ean mua c\u1ed5 phi\u1ebfu m\u1edbi ph\u00e1t h\u00e0nh<\/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\/vi\/general-corporate\/investment-contract-shares-provision\/#Ve_viec_phat_hanh_lua_chon_co_phieu_Stock_Option\" title=\"V\u1ec1 vi\u1ec7c ph\u00e1t h\u00e0nh l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu (Stock Option)\">V\u1ec1 vi\u1ec7c ph\u00e1t h\u00e0nh l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu (Stock Option)<\/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\/vi\/general-corporate\/investment-contract-shares-provision\/#Ve_thoi_gian_thuc_hien_quyen_uu_tien_mua\" title=\"V\u1ec1 th\u1eddi gian th\u1ef1c hi\u1ec7n quy\u1ec1n \u01b0u ti\u00ean mua\">V\u1ec1 th\u1eddi gian th\u1ef1c hi\u1ec7n quy\u1ec1n \u01b0u ti\u00ean mua<\/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\/vi\/general-corporate\/investment-contract-shares-provision\/#Dieu_khoan_ve_quyen_mua_uu_tien_va_quyen_mua_truoc\" title=\"\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc\">\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc<\/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\/vi\/general-corporate\/investment-contract-shares-provision\/#Quyen_mua_uu_tien_va_quyen_mua_truoc_la_gi\" title=\"Quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc l\u00e0 g\u00ec\">Quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc l\u00e0 g\u00ec<\/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\/vi\/general-corporate\/investment-contract-shares-provision\/#Muc_dich_cua_dieu_khoan_ve_quyen_mua_uu_tien_va_quyen_mua_truoc\" title=\"M\u1ee5c \u0111\u00edch c\u1ee7a \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc\">M\u1ee5c \u0111\u00edch c\u1ee7a \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/investment-contract-shares-provision\/#Quyen_mua_uu_tien_va_quyen_mua_truoc_co_duoc_cong_nhan_cho_nguoi_quan_ly_khong\" title=\"Quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc c\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn cho ng\u01b0\u1eddi qu\u1ea3n l\u00fd kh\u00f4ng?\">Quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc c\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn cho ng\u01b0\u1eddi qu\u1ea3n l\u00fd kh\u00f4ng?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/investment-contract-shares-provision\/#Dieu_khoan_ve_quyen_ban_chung_va_quyen_tham_gia_chuyen_nhuong\" title=\"\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng\">\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/investment-contract-shares-provision\/#Quyen_ban_chung_va_quyen_tham_gia_chuyen_nhuong_la_gi\" title=\"Quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng l\u00e0 g\u00ec?\">Quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng l\u00e0 g\u00ec?<\/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\/vi\/general-corporate\/investment-contract-shares-provision\/#Muc_dich_cua_dieu_khoan_ve_quyen_ban_chung_va_quyen_tham_gia_chuyen_nhuong\" title=\"M\u1ee5c \u0111\u00edch c\u1ee7a \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng\">M\u1ee5c \u0111\u00edch c\u1ee7a \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng<\/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\/vi\/general-corporate\/investment-contract-shares-provision\/#Quyen_ban_chung_va_quyen_tham_gia_chuyen_nhuong_co_duoc_cong_nhan_cho_nguoi_quan_ly_khong\" title=\"Quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng c\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn cho ng\u01b0\u1eddi qu\u1ea3n l\u00fd kh\u00f4ng?\">Quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng c\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn cho ng\u01b0\u1eddi qu\u1ea3n l\u00fd kh\u00f4ng?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/investment-contract-shares-provision\/#Diem_can_luu_y_khi_quy_dinh_dieu_khoan_ve_quyen_ban_chung_va_quyen_tham_gia_chuyen_nhuong\" title=\"\u0110i\u1ec3m c\u1ea7n l\u01b0u \u00fd khi quy \u0111\u1ecbnh \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng\">\u0110i\u1ec3m c\u1ea7n l\u01b0u \u00fd khi quy \u0111\u1ecbnh \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/investment-contract-shares-provision\/#Dieu_khoan_lien_quan_den_viec_chuyen_nhuong_co_phieu\" title=\"\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn vi\u1ec7c chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu\">\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn vi\u1ec7c chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/monolith.law\/vi\/general-corporate\/investment-contract-shares-provision\/#Dieu_khoan_lien_quan_den_Quyen_keo_theo_Drag-Along_Right\" title=\"\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn Quy\u1ec1n k\u00e9o theo (Drag-Along Right)\">\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn Quy\u1ec1n k\u00e9o theo (Drag-Along Right)<\/a><\/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\/vi\/general-corporate\/investment-contract-shares-provision\/#Tom_tat\" title=\"T\u00f3m t\u1eaft\">T\u00f3m t\u1eaft<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dieu_khoan_lien_quan_den_co_phieu_trong_hop_dong_dau_tu\"><\/span>\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0, c\u00e1c \u0111i\u1ec1u kho\u1ea3n sau \u0111\u00e2y c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c xem x\u00e9t li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu:<\/p>\n\n\n\n<ol>\n<li>\u0110i\u1ec1u kho\u1ea3n v\u1ec1 \u01b0u ti\u00ean mua c\u1ed5 phi\u1ebfu m\u1edbi \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh<\/li>\n\n\n\n<li>\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc<\/li>\n\n\n\n<li>\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng<\/li>\n\n\n\n<li>\u0110i\u1ec1u kho\u1ea3n v\u1ec1 vi\u1ec7c chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu<\/li>\n\n\n\n<li>\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n k\u00e9o theo trong vi\u1ec7c b\u00e1n c\u1ed5 phi\u1ebfu (Drag Along Right)<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dieu_khoan_ve_viec_uu_tien_mua_co_phieu_moi_phat_hanh\"><\/span>\u0110i\u1ec1u kho\u1ea3n v\u1ec1 vi\u1ec7c \u01b0u ti\u00ean mua c\u1ed5 phi\u1ebfu m\u1edbi ph\u00e1t h\u00e0nh<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\/2019\/10\/shutterstock_531227905-1024x586.jpg\" alt=\"\" class=\"wp-image-5298\" \/><figcaption class=\"wp-element-caption\">Ch\u00fang t\u00f4i s\u1ebd gi\u1ea3i th\u00edch v\u1ec1 \u0111i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn vi\u1ec7c \u01b0u ti\u00ean mua c\u1ed5 phi\u1ebfu m\u1edbi.<\/figcaption><\/figure>\n\n\n\n<p>\u0110\u1ed1i v\u1edbi c\u00e1c c\u00f4ng ty \u0111\u1ea7u t\u01b0 nh\u01b0 VC, vi\u1ec7c \u01b0u ti\u00ean mua c\u1ed5 phi\u1ebfu m\u1edbi ph\u00e1t h\u00e0nh s\u1ebd gi\u00fap h\u1ecd duy tr\u00ec t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n c\u1ee7a m\u00ecnh.<\/p>\n\n\n\n<p>Vi\u1ec7c duy tr\u00ec t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n cho ph\u00e9p VC v\u00e0 c\u00e1c c\u00f4ng ty t\u01b0\u01a1ng t\u1ef1 c\u00f3 quy\u1ec1n bi\u1ec3u quy\u1ebft nh\u01b0 m\u1ed9t c\u1ed5 \u0111\u00f4ng v\u00e0 duy tr\u00ec quy\u1ec1n ki\u1ec3m so\u00e1t. Ngo\u00e0i ra, h\u1ecd c\u0169ng c\u00f3 th\u1ec3 nh\u1eadn \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn t\u01b0\u01a1ng \u1ee9ng v\u1edbi t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n c\u1ee7a m\u00ecnh khi c\u00f4ng ty ni\u00eam y\u1ebft c\u1ed5 phi\u1ebfu ho\u1eb7c th\u1ef1c hi\u1ec7n M&amp;A. Do \u0111\u00f3, vi\u1ec7c duy tr\u00ec t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n l\u00e0 m\u1ed9t v\u1ea5n \u0111\u1ec1 quan tr\u1ecdng \u0111\u1ed1i v\u1edbi VC v\u00e0 c\u00e1c c\u00f4ng ty t\u01b0\u01a1ng t\u1ef1.<\/p>\n\n\n\n<p>Do \u0111\u00f3, trong n\u1ed9i dung h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0, c\u00f3 th\u1ec3 c\u00f3 \u0111i\u1ec1u kho\u1ea3n cho ph\u00e9p VC v\u00e0 c\u00e1c c\u00f4ng ty t\u01b0\u01a1ng t\u1ef1 \u01b0u ti\u00ean mua c\u1ed5 phi\u1ebfu m\u1edbi ph\u00e1t h\u00e0nh t\u1eeb c\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p. M\u1eb7c d\u00f9 c\u00f3 quy \u0111\u1ecbnh v\u1ec1 vi\u1ec7c \u01b0u ti\u00ean mua c\u1ed5 phi\u1ebfu m\u1edbi, kh\u00f4ng d\u1ef1 ki\u1ebfn r\u1eb1ng s\u1ebd c\u00f3 r\u1ee7i ro l\u1edbn \u0111\u1ed1i v\u1edbi c\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p.<\/p>\n\n\n\n<p>Tuy nhi\u00ean, khi quy \u0111\u1ecbnh, c\u1ea7n ch\u00fa \u00fd \u0111\u1ebfn hai \u0111i\u1ec3m sau:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ve_viec_phat_hanh_lua_chon_co_phieu_Stock_Option\"><\/span>V\u1ec1 vi\u1ec7c ph\u00e1t h\u00e0nh l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu (Stock Option)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>L\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu l\u00e0 quy\u1ec1n mua c\u1ed5 phi\u1ebfu c\u1ee7a c\u00f4ng ty v\u1edbi m\u1ed9t gi\u00e1 c\u1ed1 \u0111\u1ecbnh d\u00e0nh cho c\u00e1c nh\u00e0 qu\u1ea3n l\u00fd, nh\u00e2n vi\u00ean v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ee7a c\u00f4ng ty. C\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p th\u01b0\u1eddng s\u1eed d\u1ee5ng ph\u01b0\u01a1ng ph\u00e1p n\u00e0y \u0111\u1ec3 thu h\u00fat nh\u00e2n t\u00e0i. Do \u0111\u00f3, c\u00f4ng ty th\u1ef1c s\u1ef1 mu\u1ed1n s\u1eed d\u1ee5ng l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu \u0111\u1ec3 thu h\u00fat nh\u00e2n t\u00e0i. V\u00ec v\u1eady, trong n\u1ed9i dung c\u1ee7a \u0111i\u1ec1u kho\u1ea3n v\u1ec1 vi\u1ec7c \u01b0u ti\u00ean mua, n\u00ean lo\u1ea1i tr\u1eeb l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu. N\u1ebfu kh\u00f4ng c\u00f3 quy \u0111\u1ecbnh c\u1ee5 th\u1ec3 v\u1ec1 \u0111i\u1ec1u kho\u1ea3n \u01b0u ti\u00ean mua, l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu c\u0169ng s\u1ebd tr\u1edf th\u00e0nh m\u1ee5c ti\u00eau, c\u00f3 th\u1ec3 t\u1ea1o ra t\u00ecnh hu\u1ed1ng kh\u00f4ng th\u1ec3 s\u1eed d\u1ee5ng \u0111\u1ec3 thu h\u00fat nh\u00e2n t\u00e0i. H\u00e3y c\u1ea9n th\u1eadn v\u1edbi \u0111i\u1ec1u n\u00e0y.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ve_thoi_gian_thuc_hien_quyen_uu_tien_mua\"><\/span>V\u1ec1 th\u1eddi gian th\u1ef1c hi\u1ec7n quy\u1ec1n \u01b0u ti\u00ean mua<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>N\u1ebfu kh\u00f4ng c\u00f3 quy \u0111\u1ecbnh v\u1ec1 th\u1eddi gian th\u1ef1c hi\u1ec7n quy\u1ec1n \u01b0u ti\u00ean mua, c\u00f3 th\u1ec3 x\u1ea3y ra t\u00ecnh hu\u1ed1ng m\u00e0 VC v\u00e0 c\u00e1c c\u00f4ng ty t\u01b0\u01a1ng t\u1ef1 kh\u00f4ng th\u1ef1c hi\u1ec7n quy\u1ec1n n\u00e0y, l\u00e0m cho vi\u1ec7c t\u00e0i ch\u00ednh c\u1ee7a c\u00f4ng ty kh\u00f4ng th\u1ec3 ti\u1ebfn tri\u1ec3n. \u0110\u1ec3 tr\u00e1nh t\u00ecnh hu\u1ed1ng n\u00e0y, trong n\u1ed9i dung h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0, n\u00ean quy \u0111\u1ecbnh v\u1ec1 th\u1eddi gian th\u1ef1c hi\u1ec7n quy\u1ec1n \u01b0u ti\u00ean mua.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dieu_khoan_ve_quyen_mua_uu_tien_va_quyen_mua_truoc\"><\/span>\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Quyen_mua_uu_tien_va_quyen_mua_truoc_la_gi\"><\/span>Quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc l\u00e0 g\u00ec<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n \u01b0u ti\u00ean mua c\u1ed5 phi\u1ebfu m\u1edbi \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh m\u00e0 ch\u00fang t\u00f4i \u0111\u00e3 gi\u1ea3i th\u00edch \u1edf tr\u00ean l\u00e0 \u0111i\u1ec1u kho\u1ea3n cho ph\u00e9p &#8220;c\u00f4ng ty&#8221; c\u00f3 quy\u1ec1n \u01b0u ti\u00ean mua c\u1ed5 phi\u1ebfu m\u1edbi khi c\u00f4ng ty ph\u00e1t h\u00e0nh. M\u1eb7t kh\u00e1c, quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc l\u00e0 quy\u1ec1n cho ph\u00e9p ng\u01b0\u1eddi c\u00f3 quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc mua c\u1ed5 phi\u1ebfu \u0111\u00e3 \u0111\u01b0\u1ee3c chuy\u1ec3n nh\u01b0\u1ee3ng t\u1eeb c\u1ed5 \u0111\u00f4ng c\u1ee5 th\u1ec3 tr\u01b0\u1edbc ng\u01b0\u1eddi kh\u00e1c.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Muc_dich_cua_dieu_khoan_ve_quyen_mua_uu_tien_va_quyen_mua_truoc\"><\/span>M\u1ee5c \u0111\u00edch c\u1ee7a \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>C\u00f3 hai m\u1ee5c \u0111\u00edch ch\u00ednh c\u1ee7a quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc:<\/p>\n\n\n\n<ol>\n<li>M\u1ee5c \u0111\u00edch t\u0103ng s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu s\u1edf h\u1eefu v\u00e0 t\u0103ng t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n c\u1ee7a m\u00ecnh th\u00f4ng qua vi\u1ec7c mua c\u1ed5 phi\u1ebfu<\/li>\n\n\n\n<li>M\u1ee5c \u0111\u00edch ng\u0103n ch\u1eb7n vi\u1ec7c chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu cho b\u00ean th\u1ee9 ba kh\u00f4ng mong mu\u1ed1n c\u1ee7a c\u00f4ng ty<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Quyen_mua_uu_tien_va_quyen_mua_truoc_co_duoc_cong_nhan_cho_nguoi_quan_ly_khong\"><\/span>Quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc c\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn cho ng\u01b0\u1eddi qu\u1ea3n l\u00fd kh\u00f4ng?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>C\u00e1c tr\u01b0\u1eddng h\u1ee3p mua c\u1ed5 phi\u1ebfu do vi\u1ec7c th\u1ef1c hi\u1ec7n quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc \u0111\u01b0\u1ee3c t\u1ed5ng h\u1ee3p nh\u01b0 sau:<\/p>\n\n\n\n<ul>\n<li>Ng\u01b0\u1eddi qu\u1ea3n l\u00fd chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0 ng\u01b0\u1eddi qu\u1ea3n l\u00fd mua l\u1ea1i<\/li>\n\n\n\n<li>Ng\u01b0\u1eddi qu\u1ea3n l\u00fd chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 mua l\u1ea1i<\/li>\n\n\n\n<li>Nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0 ng\u01b0\u1eddi qu\u1ea3n l\u00fd mua l\u1ea1i<\/li>\n\n\n\n<li>Nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 mua l\u1ea1i<\/li>\n<\/ul>\n\n\n\n<p>Trong tr\u01b0\u1eddng h\u1ee3p nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu, n\u1ebfu c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c b\u00e1n, kh\u00f4ng c\u00f3 v\u1ea5n \u0111\u1ec1 g\u00ec n\u1ebfu ng\u01b0\u1eddi qu\u1ea3n l\u00fd hay nh\u00e0 \u0111\u1ea7u t\u01b0 mua l\u1ea1i. H\u01a1n n\u1eefa, t\u1eeb g\u00f3c \u0111\u1ed9 c\u1ee7a ng\u01b0\u1eddi qu\u1ea3n l\u00fd, n\u1ebfu c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c mua l\u1ea1i b\u1edfi b\u00ean th\u1ee9 ba kh\u00f4ng mong mu\u1ed1n, h\u1ecd th\u01b0\u1eddng mu\u1ed1n mua l\u1ea1i ch\u00fang. Do \u0111\u00f3, c\u00f3 m\u1ed9t l\u00fd do h\u1ee3p l\u00fd cho vi\u1ec7c ng\u01b0\u1eddi qu\u1ea3n l\u00fd mua l\u1ea1i c\u1ed5 phi\u1ebfu \u01b0u ti\u00ean khi nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu.<\/p>\n\n\n\n<p>V\u00ec v\u1eady, c\u00f3 nhi\u1ec1u tr\u01b0\u1eddng h\u1ee3p m\u00e0 quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn cho ng\u01b0\u1eddi qu\u1ea3n l\u00fd. Ngo\u00e0i ra, v\u00ec kh\u00f4ng th\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c m\u1ee5c ti\u00eau 2 n\u00eau tr\u00ean n\u1ebfu kh\u00f4ng mua to\u00e0n b\u1ed9 c\u1ed5 phi\u1ebfu, n\u00ean th\u01b0\u1eddng mua to\u00e0n b\u1ed9 c\u1ed5 phi\u1ebfu, kh\u00f4ng ph\u1ea3i m\u1ed9t ph\u1ea7n.<\/p>\n\n\n\n<p>V\u00e0 khi chuy\u1ec3n nh\u01b0\u1ee3ng nhi\u1ec1u c\u1ed5 phi\u1ebfu, n\u1ebfu c\u00f3 nhi\u1ec1u ng\u01b0\u1eddi th\u1ef1c hi\u1ec7n quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc, th\u00ec vi\u1ec7c mua c\u1ed5 phi\u1ebfu theo t\u1ef7 l\u1ec7 ph\u1ea7n tr\u0103m l\u00e0 ph\u1ed5 bi\u1ebfn.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dieu_khoan_ve_quyen_ban_chung_va_quyen_tham_gia_chuyen_nhuong\"><\/span>\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng<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\/2019\/10\/shutterstock_1204727524-1024x575.jpg\" alt=\"\" class=\"wp-image-5300\" \/><figcaption class=\"wp-element-caption\">\u0110i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng r\u1ea5t quan tr\u1ecdng \u0111\u1ed1i v\u1edbi c\u1ed5 \u0111\u00f4ng thi\u1ec3u s\u1ed1.<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Quyen_ban_chung_va_quyen_tham_gia_chuyen_nhuong_la_gi\"><\/span>Quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng l\u00e0 g\u00ec?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng l\u00e0 quy\u1ec1n cho ph\u00e9p c\u00e1c c\u1ed5 \u0111\u00f4ng kh\u00e1c c\u00f9ng b\u00e1n c\u1ed5 phi\u1ebfu khi m\u1ed9t c\u1ed5 \u0111\u00f4ng c\u1ee5 th\u1ec3 mu\u1ed1n b\u00e1n c\u1ed5 phi\u1ebfu c\u1ee7a m\u00ecnh, t\u1ee9c l\u00e0, \u0111\u1ea3m b\u1ea3o c\u01a1 h\u1ed9i b\u00e1n c\u1ed5 phi\u1ebfu c\u1ee7a m\u00ecnh.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Muc_dich_cua_dieu_khoan_ve_quyen_ban_chung_va_quyen_tham_gia_chuyen_nhuong\"><\/span>M\u1ee5c \u0111\u00edch c\u1ee7a \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>M\u1ee5c \u0111\u00edch ch\u00ednh c\u1ee7a \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng l\u00e0 ng\u0103n ch\u1eb7n t\u00ecnh hu\u1ed1ng m\u00e0 ch\u1ec9 m\u1ed9t s\u1ed1 c\u1ed5 \u0111\u00f4ng c\u1ee5 th\u1ec3 b\u00e1n c\u1ed5 phi\u1ebfu v\u00e0 thu l\u1ee3i nhu\u1eadn b\u1eb1ng c\u00e1ch chia s\u1ebb c\u01a1 h\u1ed9i b\u00e1n c\u1ed5 phi\u1ebfu gi\u1eefa c\u00e1c c\u1ed5 \u0111\u00f4ng. \u0110\u1eb7c bi\u1ec7t \u0111\u1ed1i v\u1edbi c\u1ed5 \u0111\u00f4ng thi\u1ec3u s\u1ed1, n\u1ebfu c\u1ed5 \u0111\u00f4ng l\u1edbn b\u00e1n c\u1ed5 phi\u1ebfu v\u00e0 c\u00f4ng ty m\u1eb9 ho\u1eb7c t\u1ed5 ch\u1ee9c c\u00f4ng ty thay \u0111\u1ed5i m\u00e0 kh\u00f4ng b\u00e1o tr\u01b0\u1edbc, h\u1ecd c\u00f3 th\u1ec3 m\u1ea5t c\u01a1 h\u1ed9i b\u00e1n c\u1ed5 phi\u1ebfu. K\u1ebft qu\u1ea3 l\u00e0, h\u1ecd c\u00f3 th\u1ec3 m\u1ea5t c\u01a1 h\u1ed9i thu l\u1ee3i nhu\u1eadn t\u1eeb vi\u1ec7c tho\u00e1i v\u1ed1n.<\/p>\n\n\n\n<p>V\u00ec v\u1eady, \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng \u0111\u1eb7c bi\u1ec7t quan tr\u1ecdng \u0111\u1ed1i v\u1edbi c\u1ed5 \u0111\u00f4ng thi\u1ec3u s\u1ed1.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Quyen_ban_chung_va_quyen_tham_gia_chuyen_nhuong_co_duoc_cong_nhan_cho_nguoi_quan_ly_khong\"><\/span>Quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng c\u00f3 \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn cho ng\u01b0\u1eddi qu\u1ea3n l\u00fd kh\u00f4ng?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>C\u00e1c tr\u01b0\u1eddng h\u1ee3p tham gia b\u00e1n do vi\u1ec7c th\u1ef1c hi\u1ec7n quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng \u0111\u01b0\u1ee3c t\u1ed5ng h\u1ee3p nh\u01b0 sau:<\/p>\n\n\n\n<ul>\n<li>Tr\u01b0\u1eddng h\u1ee3p ng\u01b0\u1eddi qu\u1ea3n l\u00fd tham gia khi ng\u01b0\u1eddi qu\u1ea3n l\u00fd chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu<\/li>\n\n\n\n<li>Tr\u01b0\u1eddng h\u1ee3p nh\u00e0 \u0111\u1ea7u t\u01b0 tham gia khi ng\u01b0\u1eddi qu\u1ea3n l\u00fd chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu<\/li>\n\n\n\n<li>Tr\u01b0\u1eddng h\u1ee3p ng\u01b0\u1eddi qu\u1ea3n l\u00fd tham gia khi nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu<\/li>\n\n\n\n<li>Tr\u01b0\u1eddng h\u1ee3p nh\u00e0 \u0111\u1ea7u t\u01b0 tham gia khi nh\u00e0 \u0111\u1ea7u t\u01b0 chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu<\/li>\n<\/ul>\n\n\n\n<p>\u0110\u1ed1i v\u1edbi quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc, vi\u1ec7c c\u00f4ng nh\u1eadn cho ng\u01b0\u1eddi qu\u1ea3n l\u00fd c\u00f3 m\u1ed9t s\u1ef1 h\u1ee3p l\u00fd nh\u1ea5t \u0111\u1ecbnh v\u00e0 nhi\u1ec1u tr\u01b0\u1eddng h\u1ee3p \u0111\u00e3 \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn cho ng\u01b0\u1eddi qu\u1ea3n l\u00fd.<\/p>\n\n\n\n<p>Tuy nhi\u00ean, \u0111\u1ed1i v\u1edbi quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng, th\u00f4ng th\u01b0\u1eddng kh\u00f4ng \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn cho ng\u01b0\u1eddi qu\u1ea3n l\u00fd. \u0110\u1ed1i v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 VC, vi\u1ec7c c\u00f4ng nh\u1eadn quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng c\u00f3 s\u1ef1 c\u1ea7n thi\u1ebft v\u00e0 h\u1ee3p l\u00fd \u0111\u1ec3 \u0111\u1ea3m b\u1ea3o c\u01a1 h\u1ed9i chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m nh\u1ea5t \u0111\u1ecbnh.<\/p>\n\n\n\n<p>Ng\u01b0\u1ee3c l\u1ea1i, \u0111\u1ed1i v\u1edbi ng\u01b0\u1eddi qu\u1ea3n l\u00fd, kh\u00e1c v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 VC, m\u1ee5c \u0111\u00edch ch\u00ednh kh\u00f4ng ph\u1ea3i l\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0o c\u00f4ng ty m\u00e0 l\u00e0 qu\u1ea3n l\u00fd c\u00f4ng ty. Do \u0111\u00f3, \u0111\u1ed1i v\u1edbi ng\u01b0\u1eddi qu\u1ea3n l\u00fd, kh\u00f4ng gi\u1ed1ng nh\u01b0 nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 VC, kh\u00f4ng c\u00f3 s\u1ef1 c\u1ea7n thi\u1ebft v\u00e0 h\u1ee3p l\u00fd \u0111\u1ec3 c\u00f4ng nh\u1eadn quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0 \u0111\u1ea3m b\u1ea3o c\u01a1 h\u1ed9i chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0o m\u1ed9t th\u1eddi \u0111i\u1ec3m nh\u1ea5t \u0111\u1ecbnh, v\u00e0 th\u00f4ng th\u01b0\u1eddng kh\u00f4ng \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng.<\/p>\n\n\n\n<p>Tuy nhi\u00ean, trong tr\u01b0\u1eddng h\u1ee3p d\u1ef1 ki\u1ebfn ng\u01b0\u1eddi qu\u1ea3n l\u00fd s\u1ebd chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu t\u1eeb ban \u0111\u1ea7u, c\u00f3 th\u1ec3 c\u00f3 ngo\u1ea1i l\u1ec7 m\u00e0 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Diem_can_luu_y_khi_quy_dinh_dieu_khoan_ve_quyen_ban_chung_va_quyen_tham_gia_chuyen_nhuong\"><\/span>\u0110i\u1ec3m c\u1ea7n l\u01b0u \u00fd khi quy \u0111\u1ecbnh \u0111i\u1ec1u kho\u1ea3n v\u1ec1 quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u0110\u1ed1i v\u1edbi quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng, quan tr\u1ecdng l\u00e0 ph\u1ea3i r\u00f5 r\u00e0ng v\u1ec1 vi\u1ec7c x\u00e1c \u0111\u1ecbnh s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 chuy\u1ec3n nh\u01b0\u1ee3ng v\u00e0 c\u00e1ch x\u1eed l\u00fd khi ng\u01b0\u1eddi mu\u1ed1n mua c\u1ed5 phi\u1ebfu thay \u0111\u1ed5i s\u1ed1 l\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu mu\u1ed1n mua.<\/p>\n\n\n\n<p>Ngo\u00e0i ra, quy\u1ec1n b\u00e1n chung v\u00e0 quy\u1ec1n tham gia chuy\u1ec3n nh\u01b0\u1ee3ng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c quy \u0111\u1ecbnh c\u00f9ng l\u00fac v\u1edbi quy\u1ec1n mua \u01b0u ti\u00ean v\u00e0 quy\u1ec1n mua tr\u01b0\u1edbc trong n\u1ed9i dung h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0. Do \u0111\u00f3, khi quy \u0111\u1ecbnh c\u00f9ng m\u1ed9t l\u00fac, c\u1ea7n xem x\u00e9t c\u00e1ch \u0111i\u1ec1u ch\u1ec9nh m\u1ed1i quan h\u1ec7 gi\u1eefa hai b\u00ean.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dieu_khoan_lien_quan_den_viec_chuyen_nhuong_co_phieu\"><\/span>\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn vi\u1ec7c chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0, th\u00f4ng th\u01b0\u1eddng s\u1ebd c\u00f3 m\u1ed9t s\u1ed1 th\u1ecfa thu\u1eadn v\u1ec1 vi\u1ec7c chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu, nh\u1eb1m \u0111i\u1ec1u ch\u1ec9nh quy\u1ec1n l\u1ee3i gi\u1eefa c\u00e1c c\u00f4ng ty kh\u1edfi nghi\u1ec7p v\u00e0 c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m (VC). V\u00ed d\u1ee5, khi ng\u01b0\u1eddi qu\u1ea3n l\u00fd chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu, c\u00f3 th\u1ec3 s\u1ebd c\u00f3 \u0111i\u1ec1u kho\u1ea3n y\u00eau c\u1ea7u s\u1ef1 ch\u1ea5p thu\u1eadn c\u1ee7a VC. \u0110\u1ed3ng th\u1eddi, khi VC chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu, c\u00f3 th\u1ec3 s\u1ebd c\u00f3 \u0111i\u1ec1u kho\u1ea3n r\u00f5 r\u00e0ng cho ph\u00e9p h\u1ecd t\u1ef1 do chuy\u1ec3n nh\u01b0\u1ee3ng. \u0110i\u1ec1u n\u00e0y l\u00e0 do VC c\u1ea7n \u0111\u1ea3m b\u1ea3o c\u01a1 h\u1ed9i chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu trong m\u1ed9t kho\u1ea3ng th\u1eddi gian nh\u1ea5t \u0111\u1ecbnh v\u00e0 s\u1ef1 h\u1ee3p l\u00fd c\u1ee7a vi\u1ec7c n\u00e0y \u0111\u01b0\u1ee3c c\u00f4ng nh\u1eadn.<\/p>\n\n\n\n<p>Tuy nhi\u00ean, n\u1ebfu VC c\u00f3 th\u1ec3 t\u1ef1 do chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu cho nh\u1eefng ng\u01b0\u1eddi kh\u00f4ng mong mu\u1ed1n \u0111\u1ed1i v\u1edbi c\u00f4ng ty, c\u00f3 th\u1ec3 s\u1ebd g\u00e2y ra nh\u1eefng b\u1ea5t l\u1ee3i cho c\u00f4ng ty. Do \u0111\u00f3, \u0111\u1ed1i v\u1edbi vi\u1ec7c chuy\u1ec3n nh\u01b0\u1ee3ng c\u1ed5 phi\u1ebfu c\u1ee7a VC, c\u00f3 th\u1ec3 s\u1ebd xem x\u00e9t vi\u1ec7c \u0111\u00e0m ph\u00e1n v\u1ec1 vi\u1ec7c \u0111\u1eb7t m\u1ed9t s\u1ed1 h\u1ea1n ch\u1ebf chuy\u1ec3n nh\u01b0\u1ee3ng, ch\u1eb3ng h\u1ea1n nh\u01b0 vi\u1ec7c y\u00eau c\u1ea7u s\u1ef1 ch\u1ea5p thu\u1eadn c\u1ee7a c\u00f4ng ty \u0111\u1ed1i v\u1edbi vi\u1ec7c chuy\u1ec3n nh\u01b0\u1ee3ng cho m\u1ed9t s\u1ed1 ng\u01b0\u1eddi c\u1ee5 th\u1ec3, m\u1eb7c d\u00f9 c\u01a1 b\u1ea3n l\u00e0 cho ph\u00e9p chuy\u1ec3n nh\u01b0\u1ee3ng t\u1ef1 do.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Dieu_khoan_lien_quan_den_Quyen_keo_theo_Drag-Along_Right\"><\/span>\u0110i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn Quy\u1ec1n k\u00e9o theo (Drag-Along Right)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Quy\u1ec1n k\u00e9o theo, c\u00f2n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 quy\u1ec1n b\u00e1n bu\u1ed9c, l\u00e0 &#8220;quy\u1ec1n c\u00f3 th\u1ec3 bu\u1ed9c ban qu\u1ea3n l\u00fd v\u00e0 c\u00e1c c\u1ed5 \u0111\u00f4ng kh\u00e1c tham gia v\u00e0o vi\u1ec7c M&amp;A ho\u1eb7c tho\u00e1i v\u1ed1n do nh\u00e0 \u0111\u1ea7u t\u01b0 d\u1eabn d\u1eaft, khi \u0111\u00e1p \u1ee9ng m\u1ed9t s\u1ed1 \u0111i\u1ec1u ki\u1ec7n nh\u1ea5t \u0111\u1ecbnh&#8221; (Tetsuya Isozaki, &#8220;Equity Finance for Startups&#8221;, trang 139). \u0110\u1ed1i v\u1edbi Quy\u1ec1n k\u00e9o theo, ch\u00fang t\u00f4i \u0111\u00e3 gi\u1ea3i th\u00edch trong b\u00e0i vi\u1ebft d\u01b0\u1edbi \u0111\u00e2y, vui l\u00f2ng tham kh\u1ea3o.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tom_tat\"><\/span>T\u00f3m t\u1eaft<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Ch\u00fang t\u00f4i \u0111\u00e3 gi\u1ea3i th\u00edch v\u1ec1 c\u00e1c \u0111i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0. C\u00e1c \u0111i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu c\u00f3 th\u1ec3 \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn t\u1ef7 l\u1ec7 c\u1ed5 ph\u1ea7n v\u00e0 l\u1ee3i nhu\u1eadn khi tho\u00e1i v\u1ed1n (Exit), v\u00ec v\u1eady \u0111\u00e2y l\u00e0 nh\u1eefng \u0111i\u1ec1u kho\u1ea3n quan tr\u1ecdng \u0111\u1ed1i v\u1edbi c\u1ea3 c\u00f4ng ty v\u00e0 c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 nh\u01b0 qu\u1ef9 \u0111\u1ea7u t\u01b0 m\u1ea1o hi\u1ec3m (VC). Do \u0111\u00f3, c\u1ea7n ph\u1ea3i r\u00f5 r\u00e0ng quy \u0111\u1ecbnh trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0.<\/p>\n\n\n\n<p>Tuy nhi\u00ean, vi\u1ec7c xem x\u00e9t c\u00e1c \u0111i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu trong h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0 \u0111\u00f2i h\u1ecfi ki\u1ebfn th\u1ee9c chuy\u00ean m\u00f4n, n\u00ean vi\u1ec7c nh\u1edd lu\u1eadt s\u01b0 chuy\u00ean nghi\u1ec7p so\u1ea1n th\u1ea3o h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0 ho\u1eb7c nh\u1eadn l\u1eddi khuy\u00ean t\u1eeb lu\u1eadt s\u01b0 l\u00e0 \u0111i\u1ec1u n\u00ean l\u00e0m.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>N\u1ed9i dung h\u1ee3p \u0111\u1ed3ng \u0111\u1ea7u t\u01b0 quy \u0111\u1ecbnh nhi\u1ec1u \u0111i\u1ec1u kho\u1ea3n kh\u00e1c nhau, trong \u0111\u00f3 c\u00f3 th\u1ec3 c\u00f3 \u0111i\u1ec1u kho\u1ea3n li\u00ean quan \u0111\u1ebfn c\u1ed5 phi\u1ebfu. \u0110i\u1ec1u kho\u1ea3n v\u1ec1 c\u1ed5 phi\u1ebfu, t\u1eeb g\u00f3c \u0111\u1ed9 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0, l\u00e0 nh\u1eefng \u0111i\u1ec1u li\u00ean quan \u0111\u1ebfn c\u1ed5 phi [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":60451,"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\/vi\/wp-json\/wp\/v2\/posts\/59824"}],"collection":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/comments?post=59824"}],"version-history":[{"count":1,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59824\/revisions"}],"predecessor-version":[{"id":60452,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/posts\/59824\/revisions\/60452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/media\/60451"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/media?parent=59824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/categories?post=59824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/vi\/wp-json\/wp\/v2\/tags?post=59824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}