Hearing Xu Yun's words, Tian Liangwei's expression did not change much, but Zheng Zu on the side was slightly startled.
Good guy.
This guy doesn't really think that technical barriers like imidacloprid are really that easy to break through, does he?
Even the managers of the fund position the company as nothing more than a company specializing in the production of biopesticides - and even this so-called 'just' represents a vast market.
!
However, while he was secretly criticizing Xu Yun for not overestimating his capabilities, 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 it is a patent with you as the first inventor, then you can choose to collect an additional licensing fee after receiving the existing dividends.
For example, this is the case with many companies such as Guge and Microsoft, based on sales profits or extraction.
In addition, you can also choose one-time life buyout, authorization, etc. There are no less than seven or eight specific plans.
In short, if a new technology is born, the company - or the University of Science and Technology will definitely not let you give it for free, everyone is talking about business."
Xu Yun nodded thoughtfully.
Perhaps his question seemed a bit too ambitious to Zheng Zu, but he himself knew very well that as long as there was that mysterious aura, breaking through other technical barriers was not an illusory thing.
Therefore, if he does not get an answer to this question, he will definitely not be able to discuss follow-up matters with peace of mind.
Seeing that both parties had no objections to the technology investment plan, Zheng Zu took advantage of the situation and proposed the next step.
"In this case, let's talk about the issue of our 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 set up must be of the biomedical type. Do you have any objection to this?"
Xu Yun hummed.
"No comment."
Imidacloprid is a type of biological pesticide, so the nature of the company can only be biopharmaceutical, at least so far.
Then Zheng Zu continued:
"As for holding shares?
The school's opinion is that our new venture fund will lead the investment with a cash flow of 8 million and other additional items.
This includes but is not limited to the group's office location, site equipment and executive headhunting list, accounting for .
The School of Life Sciences invested RMB 10,000 in cash flow and some additional items, and held shares.
The employee option pool is temporarily reserved, and Dr. Xu will share the remaining portion."
"
Yes-that’s it”
Xu Yun did a quick mental calculation, quickly shook his head and said
"Secretary-General Zheng, this ratio is too low and I cannot accept it."
Zheng Zu was obviously ready for a protracted war, so he patiently explained
"Dr. Xu, I'm afraid you don't know that this ratio is really not low, and is even higher than the general market.
A patent does not mean how promising it is, how many shares can be invested in it, the income of the patent owner mainly lies in the subsequent dividends.
Take Lipitor, for example. Pfizer has applied for a total of five patents for it, each of which is worth tens of billions of dollars, but its R&D team does not even have a share in Pfizer.
Another example is Larry Page’s Pagerak patent. He is also the founder of Cuge. The actual value of the patent is close to 100 million U.S. dollars, but the entire technology only accounts for a few percent at the time of investment.”
As he spoke, Zheng Zu sighed and said seriously
"Dr. Xu, if you want to sell this technology alone, there is nothing to say. Let alone 10 or 20 million, we can also afford 40 to 50 million.
But if you want to invest in its technology, then you have to discuss it from the perspective of equity.
The same thing applies to other institutions, and the ratio may even be reduced to single digits.
This has nothing to do with price-cutting or evil intentions, it’s just a different model.”
Xu Yun still pursed his lips and looked serious.
What Zheng Zu said is actually very reasonable. Xu Yun has also found someone to understand some investment situations in the past few days.
Under normal circumstances, the proportion of technology shares is -, and most of them are not intellectual property rights, so they can easily be kicked away.
Intellectual property rights protected by law are generally lower, - or so.
Therefore, Zheng Zu was not deceiving Xu Yun when he said it was higher than the market price.
Unless you can be like Mr. Lei, who had a net worth of several billion when Rice was founded, worked as Kingsoft's EO, and invested in Vancl and Cheetah, only then can you account for the proportion.
But being able to understand is one thing, whether Xu Yun can accept it is another.
At least the current number is far lower than his bottom line.
After a while, Xu Yun raised his head and said
"Secretary-General Zheng, the minimum ratio I can accept is, and a dual-class share system must be adopted.
I want to hold more voting rights, which means that the management rights belong to me. If I can’t withdraw my consent, there is no need for us to continue talking.”
Dual-class shares are also known as AB shares as the saying goes. The core of AB shares is that the same shares have different rights.
To put it simply, it means to separate voting rights and dividend rights.
For example, Class A shares have voting rights, and Class B shares have voting rights.
Among them, common shares a are usually held by investors and public shareholders, and common shares b are often held by entrepreneurial teams.
In this way, even if the entrepreneurial team does not hold a high proportion of shares, it can still have the decision-making power of the company.
For example, Dongdong’s equity model is like this
Brother Dong only holds 10% of the shares, but he has 10% of the voting rights, thus firmly controlling the company.
In addition, the same goes for b in bat. Li’s equity and voting rights are as high as that.
In some novels, the plot in which the protagonist holds shares when the company goes public cannot possibly happen in reality.
Like Zhong Suisui, the situation is already rare, and his shareholding is not too large. He only increased his holdings after the listing.
So Xu Yun thought clearly
It is obviously impossible for you to take a large share of the shares simply by relying on one technology, but you can keep control in your own hands through AB shares.
Control.
This is his bottom line.
The shareholding ratio can be negotiated, and it can last for ten and a half months, but the AB-share model cannot make any concessions.
The former will at most make less money. With the halo in hand, Xu Yun is not too worried about income.
But the latter is related to whether one's home may be stolen.
"Dual-class shares are no problem."
Zheng Zu answered very happily. Apparently the fund had already thought of this level.
“HKUST itself will not participate in corporate decision-making, this is one of our purposes.
The school industry mainly focuses 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 figure.
It really can’t go any higher, unless you can come up with a sum of cash to invest, there’s really nothing you can do.”
The shares have been raised, and it is estimated that another increase of about 100% will be the bottom line of HKUST.
At this point, the upper limit for technology investment has almost been set.
But no matter what, Xu Yun still wants to fight for it
"Secretary-General Zheng"
However, as soon as he said half a sentence, a hearty laughter came from outside the office.
"Secretary-General Zheng, how can you and Xiao Xu discuss the equity allocation without our School of Physics?"
