Title: On the Material and Value Property Rights in Course of Venture Fund Investing
Abstract: The property right of enterprises is the freedom to use the assests according to contract.The right of the proprietor consists of the right recognized by other property owners and the right obtained through equal exchanges with resources of their own possession,necessary to the enterprise.With the development of market economy enterprises gradually form two separate state of existence,namely,material state and value state with concrete specifications of venture fund and the objectives and contents of material and value property of the enterprise.The essential renovation of venture fund is that it helps to establish a new system with almost complete separation of material property right from value property right, a system between partnership agreement and stock ownership with more likeness to the latter.The managers obtain material property right by their talent as enterpreneurs while the investors (or limited partners) exchange for the value property right with their capital.
Publication Year: 2002
Publication Date: 2002-01-01
Language: en
Type: article
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