Corporate Venture Capital Funds Of Legal Research

This paper put emphasis upon the relevant legislative issues about venture capital fund with the form of corporation.Against to the claim held by many people that the venture capital fund with the form of limited liability partnership should be developed with great efforts in China, the preface of the paper points out that the choice of the form for fund should be made together with the comprehensive calculation of real circumstances, the legal system and the government's polices of the territory where enterprises are located in. It is of great necessity to develop the venture capital fund with the form of limited liability partnership, while the great achievements obtained by many states and territories other than USA indicate that on the basis of modification of existing corporation to meet the requirements of venture capital investment, the form as well is able to promote the development of local venture capital investment to the great extent.Our country has relatively integrated corporation regulating system whereas it is quite out of date. Meanwhile, corporation is the form mainly adopted in business activities. Thus the degree of difficulty we meet during the revision or adjust of existing corporation laws and regulations for venture capital investment will be relatively low. That is to say, the study on how to reform relevant corporation regulating system for the development of venture capital fund with the form of corporation and the development of our country's venture capital investment under existing circumstances has its operation significance. That is the reason why the paper put the emphasis on the venture capital fund with the form of corporation.Chapter one is about the general description of venture capital fund. Through comparing with similar concepts and analysis, the connotation and essential characteristic of venture capital fund is clarified.Chapter two has mentioned the essentialities of developing venture capital fund in China, and discussed the economic and legislative factors that should be taken into consideration when choosing the form of organization of venture capital fund.Chapter three has studied on the legal relationship within the venture capital fundwith the form of corporation. Herein two types of administration are introduced, whereas the focus is the legal relationship within the fund when it entrust the manager and the trustee on the basis of agency contract.Chapter four mainly discussed the legislative obstacles encountered when developing venture capital fund with the form of corporation for the moment and the instructions on reforming the capital system and inner administration mechanism and adopting the stimulating mechanism.