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Limited Partnership Venture Capital Funds In The Development Of Legal Thinking

Posted on:2006-02-22Degree:MasterType:Thesis
Country:ChinaCandidate:L WangFull Text:PDF
GTID:2206360152985880Subject:Economic Law
Abstract/Summary:PDF Full Text Request
The paper consists of three parts, the introduction, main body andconclusion. The main body is divided into three chapters, each respectively onthe outline of venture capital fund, venture capital fund in limitedpartnership and its legal design about the stimulate and restriction system,which is centered on the relationship between the limited partner andgeneral partner. The introduction part introduces the original intention of writing thisthesis, its significance, information resources and the methodology it hasadopted. Chapter one: outline of venture capital fund. As the base point of thispaper, built on a clear explanation about the essence and inner governancestructure. Chapter one can be further divided into two sections. Sectionone mainly introduces the concept of investment fund as well as itsfunction to China's national economy. This section lays a foundation forthe analysis about venture capital fund. Section two has the focus onventure capital fund and its organization form. On the basis of a thoroughanalysis about venture capital, venture capital fund and their legalcharacteristics, it aims to analyze those elements which have affected theorganization form selecting of venture capital fund, so as to give a furtheranalysis about the lawful relationship among the interested parties ofcontract-style and corporation-style venture capital fund. Chapter two: venture capital fund in limited partnership. Limitedpartnership is the main organization form of venture capital fund in theUSA. This chapter includes two sections. Section one gives a generalintroduction about limited partnership. It firstly discusses its emergenceand development in all countries, and then expounds its legalcharacteristics. Section two mainly talks about venture capital fund inlimited partnership. First, it proves, that limited partnership serves as afine organization form of venture capital fund, it is out of its uniqueoperating system, which refers to the coexistence of two kinds ofresponsibilities, the flexible design of limited partnership agreement andthe feasibility to afford facile exit for venture capital. Secondly, itdiscusses the institutional worth of applying limited partnership toventure capital fund, in terms of its low operating cost, effective controlover moral hazard and the flexible design about its stimulate system. Chapter three: this chapter is the exploration on adopting limitedpartnership as the form of venture capital in our country. First, it makes alegal analysis about the parties' relationship, regarding that it hasincarnated the accordance of various intrust forms. Second, the writerconcludes the legislation status in China and discusses the disadvantagesof local legislation. Third, in view of our country's lack in validpartnership enterprise law, the writer suggested amending the partnershipenterprise law and adding the provision on limited partnership andadmitting the corporation as the partner. The conclusion is the main idea of this thesis. In order to developour country's venture capital, the correct form of venture capital fundneed to be established and perfected in legislation. And before theamending of the law, the writer suggested thinking about adopting thedormant partnership as the form of venture capital in order to meet thedevelopment of venture capital in China.
Keywords/Search Tags:Venture capital, Venture capital fund, Limited partnership
PDF Full Text Request
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