Into Unscientific

"Break through other technical barriers?"

Hearing Xu Yun's words, Tian Liangwei's expression didn't change much, but Zheng Zu on the side was slightly taken aback:

Good guy.

This kid doesn't really think that technical barriers like imidacloprid are so easy to break through, does he?

To know.

Even the several persons in charge of the fund regard the company's functional positioning as nothing more than a company specializing in the production of biopesticides.

And even this so-called 'mere' represents a vast market behind it!

However, while Xu Yun was slandering Xu Yun for being overwhelmed, Zheng Zu's expression was well controlled, and he gave a very professional solution:

"This question is actually very simple, Dr. Xu, if you are the first inventor of the patent, then you can choose to draw an additional licensing fee after receiving the existing dividends.

For example, 3% or 5% of the sales profit is drawn, which is the case for many companies such as Cuckoo and Microsoft.

In addition, you can also choose a one-time buyout, authorization, etc., and 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 use it for nothing. Everyone is talking about business. "

Xu Yun nodded thoughtfully.

Maybe his question is a bit ambitious and unrealistic in Zheng Zu's eyes, and he may even be given a low impression because of it.

But he himself knows very well that as long as there is that mysterious halo, breaking through other technical barriers is really not a illusory thing.

Therefore, if there is no answer to this question, he will definitely not feel at ease to discuss follow-up matters.

Seeing that the two parties had no objection to the technology investment plan, Zheng Zu took advantage of the opportunity to propose the next link:

"In this case, let's talk about the issue of each holding shares, 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 a biomedical company. Do you have any objections to this?"

Xu Yun hummed:

"No comment."

Imidacloprid is a type of biopesticide, and the nature of the company can only be biomedicine, at least so far.

Then Zheng Zu continued:

"As for holding shares?

As for the opinion of the school, our new venture fund will lead the investment with 8 million cash flow and other additional items.

It includes and is not limited to the group's office location, site equipment and executive headhunting list, accounting for 43% of the shares.

The School of Life Sciences followed up with 2 million cash flow and some additional items, accounting for 14% of the shares.

20% of the employee option pool is temporarily reserved, and Dr. Xu shares the rest. "

"43+14+20 is 77100-77 is 23%"

Xu Yun quickly did the mental calculation, then quickly shook his head and said:

"Secretary Zheng, this ratio is too low, I can't 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, even higher than the general market.

A patent does not mean how big its prospects are, and the financing investors can take as many shares as possible. The income of patent owners mainly lies in the subsequent dividends.

For example, Lipitor, have you heard of this drug?

Pfizer has applied for a total of five patents for it, of which US4681893 has a single value of US$10 billion, but its R\u0026D team does not even have a 0.1% stake in Pfizer.

Another example is Larry Page's PageRank patent, he is also the founder of Cuckoo.

The actual value of this patent is close to US$5 billion, but the entire technology accounted for only a fraction of a percent of the shares when it was purchased. Later, the full buyout cost 1.8 million shares of Cuckoo. "

While talking, Zheng Zu sighed, and said earnestly:

"Dr. Xu, if you want to sell this technology alone, then there is nothing to say.

Let alone 10 to 20 million, we can 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 is true for other institutions, and the ratio may even be reduced to single digits.

This has nothing to do with low prices or black hearts, it's just a different model. "

Xu Yun still pursed his lips with a serious expression.

What Zheng Zu said was actually very reasonable. Xu Yun had asked someone to understand some of the investment situation in the past few days.

Under normal circumstances, the proportion of technology shares is 20%-30%.

And most of them are not intellectual property rights, which are easy to be kicked away.

Intellectual property rights protected by law are generally lower, around 10%-15%.

Therefore, what Zheng Zu said was higher than the market price was indeed not deceiving Xu Yun.

Unless you can be like Mr. Lei, who was worth billions of dollars when Dami was established, served as the CEO of Jinshan, and invested in Fancl and Cheetah, so that you can account for 40%.

But being able to understand it is one thing, but whether Xu Yun can accept it is another.

At least the current figure of 23% is far below his bottom line.

After a while, Xu Yun raised his head and said:

"Secretary-General Zheng, the ratio I can accept is at least 40%, and a dual shareholding system must be adopted.

I have to occupy more than 50% of the voting rights in my hand, that is, the management right belongs to me. If I cannot withdraw my agreement on this point, there is no need for us to continue talking. "

Dual shareholding, as the saying goes, is AB shares. The core of AB shares is the same share with different rights.

Simply put, it is the separation of voting rights and dividend rights.

For example, 1 class A share has 1 vote, and 1 class B share has 10 votes.

Among them, A common stock is usually held by investors and public shareholders, and B common stock is often held by entrepreneurial teams.

In this way, even if the proportion of shares held by the entrepreneurial team is not high, they can still have the decision-making power of the enterprise.

For example, the equity model of Moudong is like this:

Brother Dong holds only 15.8% of the shares, but has 80% of the voting rights, so he has a firm grasp of the control of Dong.

In addition, the same is true for B in BAT. Mr. Li has 15.9% of the shares, but the voting rights are as high as 53.5%.

In some novels, the plot where the protagonist holds 80% or 90% of the shares when it goes public is simply impossible to happen in reality.

The situation like Zhong Suisui is already one in a million, and his shareholding is only more than 60%, and he did not increase his holdings until after the listing.

So Xu Yun thought very clearly:

It is obviously impossible for me to rely solely on a single technology to take a large share of the shares, but I can hold the control in my own hands through the AB shares.

Control.

This is the bottom line of his bottom line.

The shareholding ratio can be negotiated, and it will be fine for ten days and a half months, but the model of AB shares cannot make any concessions.

The former is at most earning less money, and with the halo in hand, Xu Yun is not too worried about income.

But the latter is related to whether you may be stolen.

"Dual shareholding is fine."

Zheng Zu answered very happily. Obviously, the fund has thought of this level a long time ago:

"HKUST itself will not participate in corporate decision-making, this is one of our purposes.

The school industry is mainly based on incubation 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 number.

28%, really can't be higher, unless you can come up with a sum of cash to follow the investment, otherwise there is really no way. "

The shares have been raised by 5%, and it is estimated that another 3% increase will be the bottom line of HKUST.

At this point, the upper limit of technology investment is almost set.

But no matter what, Xu Yun still wants to fight for it:

"Secretary Zheng."

However, just after he said half a sentence, there was a hearty laughter from outside the office:

"Secretary-General Zheng, you and Xiao Xu are discussing the matter of equity distribution. How can we leave out our School of Physics?"