"Break through other technological barriers?"

Upon hearing Xu Yun's words, Tian Liangwei's expression remained unchanged, but Zheng Zu beside him was slightly stunned.

This guy really thinks that it's so easy to break through technological barriers like imidacloprid?

Even the leaders of the fund, in terms of the company's positioning, it is only a company specializing in the production of biopesticides - and even this "only" represents an immensely vast market!

While inwardly criticizing Xu Yun for overestimating himself, Zheng Zu maintained a professional expression and provided a professional answer:

"This question is actually quite simple, Dr. Xu. If it is a patent with you as the first inventor, then you can choose to extract an additional licensing fee after receiving the existing dividends.

For example, extract 3% or 5% of the sales profit. Many companies like Google and Microsoft have this situation.

In addition, you can also choose a one-time buyout, licensing, and so on. There are at least seven or eight specific plans.

In short, if there is a new technology, the company - or rather, the University of Science and Technology - will definitely not let you give it away for free. We are all businessmen."

Xu Yun nodded thoughtfully.

Perhaps his question seemed too ambitious to Zheng Zu, but he himself was very clear that as long as he had that mysterious aura, breaking through other technological barriers was not an impossible task.

Therefore, if he didn't get an answer to this question, he would definitely not be at ease discussing follow-up matters.

Seeing that both sides had no objections to the plan for technology investment, Zheng Zu smoothly brought up the next step:

"Since that's the case, let's discuss the issue of shareholding. It is also the most crucial step."

As he spoke, he took out a form from his briefcase, which clearly recorded a lot of data:

"Dr. Xu, the company we are establishing will definitely be in the field of biomedicine. Do you have any objections to this?"

Xu Yun made a sound of agreement:

"No objections."

Imidacloprid belongs to the category of biopesticides, so the nature of the company can only be in the field of biomedicine, at least for now.

Zheng Zu continued:

"As for the shareholding...

As for the opinions of the university, our newly established fund will contribute 8 million in cash flow and other additional items as the lead investor.

This includes, but is not limited to, the group's office location, venue equipment, and a list of executive headhunters. The shareholding is 43%.

The School of Life Sciences will contribute 2 million in cash flow and some additional items, with a shareholding of 14%.

The employee stock option pool will reserve 20%, and Dr. Xu will take the remaining portion."

"43 + 14 + 20 is 77... 100 - 77 is 23..."

Xu Yun quickly calculated in his mind and shook his head:

"Secretary Zheng, this proportion is too low, I can't accept it."

Zheng Zu seemed prepared for a protracted battle, so he patiently explained:

"Dr. Xu, you may not know, but this proportion is not low at all. It is even higher than the general market rate.

The proportion of shares a patent can obtain is not determined by its prospects. The main income for the patent owner comes from future dividends.

For example, Lipitor. Pfizer applied for five patents for it, and the individual value of US4681893 alone is as high as tens of billions of dollars, but the R&D team at Pfizer holds less than 0.1% of the shares.

Another example is Larry Page's PageRank patent. He is the co-founder of Google, and the actual value of the patent is close to 5 billion dollars, but the entire technology only accounts for a little over 0.1% of the shares when it was invested in.

As he spoke, Zheng Zu sighed and said with great emphasis:

"Dr. Xu, if you want to sell this technology separately, then there's nothing more to say. We can afford to pay not just tens of millions, but even four or five hundred million.

But if you want to use it as a technology investment, then we have to discuss it from the perspective of equity.

This is the same for other institutions as well, and the proportion may even be compressed to single digits.

This has nothing to do with bargaining or being unscrupulous, it's just a different model."

Xu Yun still pursed his lips, his expression serious.

What Zheng Zu said made sense. In the past few days, Xu Yun had also asked people about some investment situations.

In general, the proportion of technology investment is usually between 20% and 30%, and most of them are not intellectual property rights, making it easy to be kicked out.

Intellectual property rights protected by law generally have a lower proportion, around 10% to 15%.

So what Zheng Zu said about being higher than the market price was indeed not deceiving Xu Yun.

Unless you can be like Lei Zong, who had several billion in assets when Dami was established, and had been the CEO of Kingsoft, invested in Vancl and Cheetah Mobile, then you can have a 40% share.

But understanding is one thing, whether Xu Yun can accept it is another.

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

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

"Secretary Zheng, the minimum proportion I can accept is 40%, and it must be a dual-class share structure.

I must have over 50% of the voting rights in my hands, which means I have the management rights. If you can't agree to this, then we have no need to continue the discussion."

Dual-class shares, also known as A and B shares, the core of dual-class shares is different voting rights for the same shares.

In simple terms, it separates voting rights from dividend rights.For example, Class A shares have 1 voting right per share, while Class B shares have 10 voting rights per share.

Class A common shares are usually held by investors and public shareholders, while Class B common shares are often held by the founding team.

In this way, even if the founding team does not have a high percentage of shares, they can still have decision-making power in the company.

For example, the equity structure of a company called "Mou Dong" is as follows:

Mou Dong only holds 15.8% of the shares, but has 80% of the voting rights, thus firmly controlling Mou Dong.

Similarly, in the case of the "B" in BAT, Li only holds 15.9% of the shares, but has a voting right of 53.5%.

Some protagonists in certain situations hold 80% or 90% of the shares when the company goes public, which is impossible in reality.

Even the situation with Zhong Shengsheng is extremely rare. He only holds a little over 60% of the shares, and then increased his holdings after the company went public.

So Xu Yun understands it very clearly:

It is obviously impossible for him to solely rely on a single technology to hold the majority of shares, but he can control the company through Class A and Class B shares.

Control.

This is the bottom line for him.

The percentage of shares can be negotiated, and it can be dragged on for ten days or half a month, but there can be no compromise on the Class A and Class B share structure.

The former may only result in earning less money, but with the reputation, Xu Yun is not too worried about income.

But the latter is related to the possibility of his own assets being stolen.

"Having dual-class shares is not a problem."

Zheng Zu answered readily, obviously the fund side had already thought of this:

This novel is available on "pawread dot com".

"The university itself will not participate in corporate decision-making, that is one of our principles.

The main purpose of the university's industry is incubation and support, after all, strictly speaking, it is a political task related to social influence and the economy.

As for the shares... Dr. Xu, let me give you a number.

28%, we really can't go any higher, unless you can come up with a cash investment, otherwise it's really impossible."

The shares have already been increased by 5%, and it is estimated that the university's bottom line is another 3% increase.

At this point, the upper limit for technology to invest in shares is almost set.

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

"Secretary Zheng..."

However, before he could finish his sentence, a hearty laughter came from outside the office:

"Secretary Zheng, how can you discuss the allocation of shares with Xu without involving our Physics Department?"