The Legal Property And Legal Adjustment Of The Executive Stock Option

Executive Stock Option (ESO) is original from the United States, and it has become an important method for corporations making their employee enthusiasm now. Most of the "ESO" in China currently is depart from the main legal property of the ESO, because the genuine ESO can hardly be extended due to the legal lack and hurdle after it was introduce into our country. If we expect the ESO play an active role in our country, it is necessary to complete the related codex, guide and standardize the execution of the ESO, clear the hurdle of the ESO execution synchronously. The research on the legal property of ESO and invest act of ESO is not only the theoretical guidance of solving material legal problems,but also very important to perfecting the system of relative legal theory. The objective of this study is to solve the major problem in the legal adjustment of ESO, based on the study of the fundamental legal issues of the ESO.According to the investigation of the phylogeny and actuality of the ESO in China and abroad, associated with relative theoretical literature,it is concluded that: the invest act of ESO makes function as contract of option or peculiar offer,which authorizes the opposite party the option on whether conclude the contract of stock transaction. ESO is a peculiar acceptance and the property of which is right of formation. ESO can be obtained without cost usually;it is a property droit that obtained by obligee based on its especial status; usually nontransferable;and it is vested interest instead of expective right.Based on the study of the above fundamental theory, associated with the practical situation of our country,This thesis drew the conclusions about legal adjustment of ESO as follows:ESO is applicable mainly in listed company,among which the developing high-tech corporations should receive especial support; invest act of ESO must be adopted by the convention of stockholders,and the company can decide whom the ESO will be given to as long as not violating law;legislation should constrain and guide the contents of ESO project such as the source of stock,the purchase price,the amount of ESO,relative time limit and so on;besides the right and liability between each other,the parties should also burden some obligations to the public,and the managers should get more severe personal punishment for the illegal act during the course of investing,exertion and cash-in.