資源描述:
《take the money or run》由會(huì)員上傳分享,免費(fèi)在線閱讀,更多相關(guān)內(nèi)容在工程資料-天天文庫(kù)。
1、www.hbr.orgHBRCASESTUDYANDCOMMENTARYShouldPetrolinkTaketheMoney—ormakethedealwithBRX?Run?Fourcommentatorsofferexpertadvice.byJohnW.Mullins?ReprintR0411AAtlonglast,Petrolink’sfoundershavethestart-upcapitaltheyneed.TheVC’scheckisinhand—butsoisnewsthattheinvestormayhavebreachedthefounders’tr
2、ust.Nowwhat?HBRCASESTUDYTaketheMoney—orRun?byJohnW.MullinsVED.Itwasnearly9PM.RobertJameson,KarlFen-highlightedpassages,”saidWalter.“They’rethestermann,andNigelRitsonofPetrolinkTrans-onlyonesthatweneedtoreachagreementon.portTechnologieshadbeenhuddledsinceEverythingelseisOK.Weshouldhavethis
3、earlymorningwiththeirlawyersandwithBRXwrappedupverysoon.”Capital’sLechWojtalikandWalterCronbachWithasigh,RobertpickedupthenewestALLRIGHTSRESERandtheirtwolawyers.Theywereinthe?nal,draft.DespiteWalter’srecommendation,heTION.Aexhaustingstagesofnegotiatinga€4millionreadcarefullythroughthewhol
4、edocument,ORinvestmentthatwouldgivePetrolinkthecashwantingtobesurehehadnotoverlookedany-ORPitneededtobuildanaturalgaspipelineinthethingthatheorKarlwouldlaterregret.The?-BalticSea.Thechecklayonthetable.nancingwashisresponsibility,andheknewAfterworkingalldayandtakingonlyashortthatthePetroli
5、nkteamwasrelyingonhisex-OLPUBLISHINGCbreakforsupper,theywerebackatthetable.pertisetoensurethatthispartofthedealTherewereonlysixitemsintheshareholders’wouldbewellmanaged.agreementtoworkout;everythingelsewasal-Ashereadtheantidilutionclause,some-readysettled.RobertandKarlknewtheycouldthingca
6、ughthiseye.Herereadit,thenreaditBUSINESSSCHODgiveinonthesepointsiftheyhadto,thoughoncemore.Aquickcheckagainstanearlier,RAVtheywerepreparedtonegotiatetogetthebestpredinnerversionoftheshareholders’agree-dealtheycould.mentcon?rmedhissuspicions.TheclausehadTheBRXlawyersprovidedafreshdraftofbe
7、enchangedtolanguagefarmoreoneroustothedocumentsthatincludedtheagreed-uponmanagement.“Whatisthis?”askedRobert.changesfromearlierintheday.“Justlookatthe“ThisantidilutionclauseisnotthesameastheOPYRIGHT?2004HARCHBR’scases,whichare?ctional,presentcommonmanagerialdilemmas