Study On Legal Validity And Risk Of Valuation Adjustment Agreement

In recent years,with the gradual development of China's economy and the expansion of the Internet economy,the level of enterprise development in our country has entered a new stage.The diversification of social financing channels makes the Valuation Adjustment Agreement come into being in private equity.The Valuation Adjustment Agreement is an agreed arrangement made under the agreement of both investors and financiers.It is particularly common in entrepreneurial growth enterprises.For private equity and other investment institutions,the purpose of their investment is to make profits.In order to attract funds,financing enterprises are willing to transfer part of their future rights and interests,and The Valuation Adjustment Agreements just meet the different preferences of both sides.Therefore,both sides of investment and financing have been widely used in China's capital market by signing Valuation Adjustment Agreements.However,due to the capital market law of our country,Valuation Adjustment Agreement are widely used.The imperfection of Fan,the legal validity of such agreements in the theoretical and practical circles,especially after the " Valuation Adjustment Agreement First Case",the legal validity of Valuation Adjustment Agreement has aroused heated debate.Based on the existing research results,combined with the current legal environment and the practical needs of our country,this paper tries to explore the reasonable rules of the legal validity of the Valuation Adjustment Agreement by combing the legal concepts of the Valuation Adjustment Agreement.At the same time,through the analysis of actual cases,the author hopes to study the legal risks that may occur in the signing of betting agreements between investors and financiers,and put forward legal suggestions with substantial value in order to effectively prevent the related risks.In addition to the introduction,the content of this paper is mainly divided into four parts.The first part elaborates the concept of betting agreement,analyses its causes and legal nature,and divides it into different types according to the different terms of the relevant betting agreement.The second part is after studying the relevant theory of the Valuation Adjustment Agreement,through the empirical analysis method,the relevant cases in practice are analyzed,leading to the actual disputes about the legal validity of the Valuation Adjustment Agreement and the determination criteria,and then from the perspective of company law and contract law,the author puts forward the criticism of the currentrules on the validity of the Valuation Adjustment Agreement and puts forward the relevant improvement of the legal validity determination Rules.The third part is to systematically analyze the legal risks that may arise in the practice of Valuation Adjustment Agreement through the study of relevant cases,and to evaluate the legal risks from various angles,revealing the legal risks that this financing method may bring to both sides of investment and financing.The fourth part combines the rules for determining the legal validity of Valuation Adjustment Agreement and the third part analyses the legal risks of Valuation Adjustment Agreement.Starting from practice,it puts forward some solutions to avoid the legal risks as far as possible when the relevant commercial subjects use similar financing means,so as to promote the stability of China's economic order and create a more stable legal environment for the investment and financing behavior of Chinese companies.