Into Unscientific

  Chapter 79 Difficult negotiations. (Second more)

   "Break through other technical barriers?"

  Hearing Xu Yun's words, Tian Liangwei's complexion didn't change much, but Zheng Zu on the side was slightly taken aback:

   Good guy.

  This kid doesn’t really think that imidacloprid-like technical barriers are so easy to break through, does he?

To know.

  Even the several directors of the fund regard the company's functional positioning as nothing more than a company specializing in the production of biopesticides.

   And even this so-called 'mere' represents a huge market behind it!

  But while Xu Yun was slandering Xu Yun for being overwhelmed, Zheng Zu controlled the expression on his face very well, and gave a very professional solution:

   "This question is actually very simple, Dr. Xu, if you are the first inventor of the patent, then you can choose to draw an additional licensing fee after receiving the existing dividends.

  For example, 3% or 5% of the sales profit is drawn, which is the case for many companies such as Cuckoo and Microsoft.

  In addition to this, you can also choose a one-time buyout, authorization, etc. There are no less than seven or eight specific plans.

  In short, if there is a new technology, the company—or the University of Science and Technology will definitely not let you use it for nothing. Everyone is talking about business. "

  Xu Yun nodded thoughtfully.

  Perhaps his question is a bit ambitious and unrealistic in Zheng Zu's eyes, and may even be marked with a low impression score because of it.

  But he himself is very clear that as long as there is that mysterious halo, breaking through other technical barriers is really not a illusory thing.

  Therefore, if there is no answer to this question, he will definitely not feel at ease to discuss follow-up matters.

  Seeing that the two sides have no objection to the technology shareholding plan, Zheng Zu took advantage of the opportunity to propose the next link:

   "Since this is the case, let's talk about the issue of their respective shareholdings, which is also the most critical link."

   As he spoke, he took out a form from his briefcase, which clearly recorded a lot of data:

   "Dr. Xu, the company we established must be of the biomedical type. Do you have any objections to this?"

  Xu Yun hummed:

"No comment."

  Imidacloprid is a type of biopesticide, and the nature of the company can only be biomedicine, at least so far.

   Then Zheng Zu continued:

   "As for the shareholding

  The opinion of the school is that our new venture fund will lead the investment with 8 million cash flow and other additional items.

  Including but not limited to the group's office location, site equipment and executive search list, accounting for 43% of the shares.

  The School of Life Sciences followed up with 2 million cash flow and some additional items, accounting for 14% of the shares.

  20% of the employee option pool is temporarily reserved, and Dr. Xu shares the rest. "

   "43+14+20 is 77100-77 is 23%"

  Xu Yun quickly calculated in his mind, shook his head quickly and said:

   "Secretary Zheng, this ratio is too low, I cannot accept it."

  Zheng Zu is obviously ready to fight a protracted war, so he explained patiently:

   "Dr. Xu, I'm afraid you don't know that this ratio is really not low, even higher than the general market.

  A patent does not mean how big its prospects are, and the financing investors can take as many shares as possible. The income of patent owners mainly lies in the follow-up dividends.

  For example, Lipitor, have you heard of this drug?

  Pfizer has applied for a total of five patents for it, of which US4681893 has a single value of US$10 billion, but its R&D team does not even hold 0.1% of Pfizer’s shares.

   Another example is Larry Page's PageRank patent. He is also the founder of Cuckoo.

  The actual value of this patent is close to 5 billion US dollars, but the entire technology accounted for only a fraction of a percent when the shares were purchased. Later, the full buyout cost 1.8 million shares of Cuckoo. "

   While talking, Zheng Zu sighed, and said earnestly:

   "Dr. Xu, if you want to sell this technology separately, then there is nothing to say.

   Let alone 10 to 20 million, we can afford 40 to 50 million.

  But if you want to invest in technology, then you have to discuss it from the perspective of equity.

  It is the same for other institutions, even the ratio may be reduced to single digits.

   This has nothing to do with low prices or black hearts, it's just a different model. "

  Xu Yun still pursed his lips with a serious expression.

   What Zheng Zu said is actually very reasonable. Xu Yun also asked someone to understand some investment situations in the past few days.

  Generally, the proportion of technical shares is 20%-30%.

   And most of them are not intellectual property rights, which are easy to be kicked away.

  The intellectual property rights protected by law are generally lower, around 10%-15%.

  So Zheng Zu said that the price was higher than the market price, but he was not deceiving Xu Yun.

  Unless you can be like Mr. Lei, who was worth billions of dollars when Dami was founded, served as the CEO of Jinshan, and invested in Fancl and Cheetah, then you can account for 40%.

  But it's one thing to understand, but another thing whether Xu Yun can accept it.

   At least the current figure of 23% is far below his bottom line.

   After a while, Xu Yun raised his head and said:

   "Secretary-General Zheng, the minimum ratio I can accept is 40%, and a dual shareholding system must be adopted.

  I want to occupy more than 50% of the voting rights in my hand, that is, the management right belongs to me. If I can’t withdraw my agreement on this point, there is no need for us to continue talking. "

  Dual shareholding, as the saying goes, is AB shares. The core of AB shares is the same share with different rights.

   Simply put, it is to separate voting rights from dividend rights.

  For example, 1 class A share has 1 voting right, and 1 class B share has 10 voting rights.

  A common stock is usually held by investors and public shareholders, and common stock B is often held by an entrepreneurial team.

  In this way, even if the entrepreneurial team does not hold a high proportion of shares, they can still have the decision-making power of the enterprise.

  For example, the equity model of Moudong is like this:

  Brother Dong holds only 15.8% of the shares, but has 80% of the voting rights, so he has a firm grasp of the control of Dong.

  In addition, the same is true for B in BAT. Mr. Li has 15.9% of the shares, but the voting rights are as high as 53.5%.

  In some novels, the protagonist holds 80% or 90% of the shares when it goes public, which is impossible to happen in reality.

  The situation like Zhong Suisui is already one in a million, and his shareholding is only more than 60%, and he only increased his holdings after the listing.

  So Xu Yun thought very clearly:

  It is obviously impossible for me to rely solely on one technology to gain a large share of the shares, but I can control it in my own hands through AB shares.

Control.

   This is his bottom line.

  The shareholding ratio can be negotiated, and it will be fine for ten days and a half months, but the model of AB shares cannot make any concessions.

  The former is at most earning less money, and with the halo in hand, Xu Yun is not too worried about income.

   But the latter is related to whether you may be stolen.

   “Dual shareholding is okay.”

  Zheng Zu answered very happily. Obviously, the fund has already thought of this level:

   "USTC itself will not participate in corporate decision-making, this is one of our purposes.

  The school industry is mainly based on incubation and support. After all, strictly speaking, it is a political task related to social influence and economy.

   As for the shares. Dr. Xu, let me give you a number.

  28%, really can't be higher, unless you can come up with a sum of cash to follow the investment, otherwise there is really no way. "

  The shares have increased by 5%, and it is estimated that another 3% increase will be the bottom line of HKUST.

  At this point, the upper limit of technology investment is almost set.

   But no matter what, Xu Yun still wants to fight for it:

   "Secretary Zheng."

  However, just after he said half a sentence, there was a hearty laughter from outside the office:

   "Secretary-General Zheng, you and Xiao Xu discussed the matter of equity distribution. How can we leave out our School of Physics?"

   Qingyang is a bit tired of using it, can anyone recommend other good shampoos?

  (end of this chapter)