破解融资风险与传承困局，筑牢企业基业长青的安全防线

Core Insights - The article discusses the hidden risks associated with financing agreements that can dilute the control of company founders and complicate equity succession during family changes [2] - An event focused on "Risk Prevention and Rights Protection in Corporate Financing" was held to provide entrepreneurs with systematic strategies for capital competition and wealth succession [2] Financing Risks - Zhang Yu, a lawyer with a background in both law and investment, emphasized the importance of understanding the financing environment, noting that tightening IPOs have led to stricter investment agreement terms [5] - Entrepreneurs must reject "full ratchet" clauses and consider more founder-friendly alternatives like "weighted average" adjustments [5] - The article highlights the differences between "non-participating," "fully participating," and "capped participating" liquidation preferences, warning of the "waterfall effect" in multiple financing rounds that could leave founders with nothing during a company sale [5][6] Control and Compensation - Different compensation methods for "earn-out clauses" were analyzed, with cash compensation deemed the riskiest and "equity compensation" or "valuation adjustments" recommended as better options [6] - Strategies such as board seat design, veto rights, and limited partnership structures are suggested to help founders maintain control during equity dilution [6] Wealth Succession Risks - Zhang Lei, Vice President of the Shanghai Notary Association, discussed the risks of wealth succession amid family changes, highlighting the potential for equity dispersion and loss of control through statutory inheritance [7] - The article outlines the benefits of notarized wills, prenuptial agreements, and irrevocable gift contracts as effective tools for managing succession risks [10] Comprehensive Solutions - Notarization provides clear and efficient solutions for inheritance and wealth transfer, ensuring that assets are passed on according to the deceased's wishes and preventing disputes [10] - The article emphasizes the importance of proactive legal arrangements for both personal and family matters to ensure the longevity of the business [10] Financial Planning and Ecosystem - The article mentions that "Small is Big" serves as a service platform that helps businesses navigate financing challenges through tailored solutions based on their specific needs [12] - The integration of risk prevention with business growth is highlighted, showcasing how financial and legal expertise can be transformed into practical tools for entrepreneurs [12] Strategic Perspectives - The event provided entrepreneurs with a dual-dimensional strategic perspective, emphasizing the need for both external capital control and internal wealth succession planning [19] - True entrepreneurial wisdom lies in understanding the rules of competition, comprehensively addressing potential risks, and effectively integrating growth resources [19]