id	sid	tid	token	lemma	pos
cblr-12479	1	1	the	the	DET
cblr-12479	1	2	law	law	NOUN
cblr-12479	1	3	of	of	ADP
cblr-12479	1	4	contingent	contingent	ADJ
cblr-12479	1	5	control	control	NOUN
cblr-12479	1	6	in	in	ADP
cblr-12479	1	7	venture	venture	NOUN
cblr-12479	1	8	capital	capital	NOUN
cblr-12479	1	9	alvaro	alvaro	PROPN
cblr-12479	1	10	pereira	pereira	PROPN
cblr-12479	1	11	*	*	PROPN
cblr-12479	1	12	contingent	contingent	PROPN
cblr-12479	1	13	control	control	NOUN
cblr-12479	1	14	(	(	PUNCT
cblr-12479	1	15	cc	cc	NOUN
cblr-12479	1	16	)	)	PUNCT
cblr-12479	1	17	is	be	AUX
cblr-12479	1	18	a	a	DET
cblr-12479	1	19	key	key	ADJ
cblr-12479	1	20	enabler	enabler	NOUN
cblr-12479	1	21	of	of	ADP
cblr-12479	1	22	startup	startup	NOUN
cblr-12479	1	23	growth	growth	NOUN
cblr-12479	1	24	and	and	CCONJ
cblr-12479	1	25	venture	venture	NOUN
cblr-12479	1	26	capital	capital	NOUN
cblr-12479	1	27	.	.	PUNCT
cblr-12479	2	1	to	to	PART
cblr-12479	2	2	preserve	preserve	VERB
cblr-12479	2	3	adequate	adequate	ADJ
cblr-12479	2	4	incentives	incentive	NOUN
cblr-12479	2	5	and	and	CCONJ
cblr-12479	2	6	mitigate	mitigate	VERB
cblr-12479	2	7	risks	risk	NOUN
cblr-12479	2	8	,	,	PUNCT
cblr-12479	2	9	venture	venture	NOUN
cblr-12479	2	10	finance	finance	NOUN
cblr-12479	2	11	deals	deal	NOUN
cblr-12479	2	12	distribute	distribute	VERB
cblr-12479	2	13	startups	startup	NOUN
cblr-12479	2	14	’	'	PUNCT
cblr-12479	2	15	governance	governance	NOUN
cblr-12479	2	16	rights	right	NOUN
cblr-12479	2	17	among	among	ADP
cblr-12479	2	18	investors	investor	NOUN
cblr-12479	2	19	and	and	CCONJ
cblr-12479	2	20	founders	founder	NOUN
cblr-12479	2	21	based	base	VERB
cblr-12479	2	22	on	on	ADP
cblr-12479	2	23	performance	performance	NOUN
cblr-12479	2	24	measures	measure	NOUN
cblr-12479	2	25	at	at	ADP
cblr-12479	2	26	different	different	ADJ
cblr-12479	2	27	points	point	NOUN
cblr-12479	2	28	in	in	ADP
cblr-12479	2	29	time	time	NOUN
cblr-12479	2	30	.	.	PUNCT
cblr-12479	3	1	for	for	ADP
cblr-12479	3	2	example	example	NOUN
cblr-12479	3	3	,	,	PUNCT
cblr-12479	3	4	granting	grant	VERB
cblr-12479	3	5	greater	great	ADJ
cblr-12479	3	6	decision	decision	NOUN
cblr-12479	3	7	-	-	PUNCT
cblr-12479	3	8	making	make	VERB
cblr-12479	3	9	powers	power	NOUN
cblr-12479	3	10	to	to	ADP
cblr-12479	3	11	outperforming	outperform	VERB
cblr-12479	3	12	founders	founder	NOUN
cblr-12479	3	13	or	or	CCONJ
cblr-12479	3	14	depriving	deprive	VERB
cblr-12479	3	15	them	they	PRON
cblr-12479	3	16	of	of	ADP
cblr-12479	3	17	such	such	ADJ
cblr-12479	3	18	prerogatives	prerogative	NOUN
cblr-12479	3	19	when	when	SCONJ
cblr-12479	3	20	they	they	PRON
cblr-12479	3	21	underperform	underperform	VERB
cblr-12479	3	22	.	.	PUNCT
cblr-12479	4	1	crucially	crucially	ADV
cblr-12479	4	2	,	,	PUNCT
cblr-12479	4	3	these	these	DET
cblr-12479	4	4	rights	right	NOUN
cblr-12479	4	5	are	be	AUX
cblr-12479	4	6	distributed	distribute	VERB
cblr-12479	4	7	ex	ex	PRON
cblr-12479	4	8	ante	ante	NOUN
cblr-12479	4	9	,	,	PUNCT
cblr-12479	4	10	through	through	ADP
cblr-12479	4	11	carefully	carefully	ADV
cblr-12479	4	12	designed	design	VERB
cblr-12479	4	13	contracts	contract	NOUN
cblr-12479	4	14	and	and	CCONJ
cblr-12479	4	15	securities	security	NOUN
cblr-12479	4	16	,	,	PUNCT
cblr-12479	4	17	avoiding	avoid	VERB
cblr-12479	4	18	the	the	DET
cblr-12479	4	19	costs	cost	NOUN
cblr-12479	4	20	and	and	CCONJ
cblr-12479	4	21	potential	potential	ADJ
cblr-12479	4	22	failure	failure	NOUN
cblr-12479	4	23	of	of	ADP
cblr-12479	4	24	future	future	ADJ
cblr-12479	4	25	negotiations	negotiation	NOUN
cblr-12479	4	26	.	.	PUNCT
cblr-12479	5	1	this	this	DET
cblr-12479	5	2	paper	paper	NOUN
cblr-12479	5	3	shows	show	VERB
cblr-12479	5	4	how	how	SCONJ
cblr-12479	5	5	corporate	corporate	ADJ
cblr-12479	5	6	law	law	NOUN
cblr-12479	5	7	determines	determine	VERB
cblr-12479	5	8	the	the	DET
cblr-12479	5	9	structure	structure	NOUN
cblr-12479	5	10	of	of	ADP
cblr-12479	5	11	cc	cc	NOUN
cblr-12479	5	12	:	:	PUNCT
cblr-12479	5	13	higher	high	ADJ
cblr-12479	5	14	costs	cost	NOUN
cblr-12479	5	15	of	of	ADP
cblr-12479	5	16	structuring	structure	VERB
cblr-12479	5	17	cc	cc	VERB
cblr-12479	5	18	through	through	ADP
cblr-12479	5	19	bespoke	bespoke	NOUN
cblr-12479	5	20	securities	security	NOUN
cblr-12479	5	21	,	,	PUNCT
cblr-12479	5	22	such	such	ADJ
cblr-12479	5	23	as	as	ADP
cblr-12479	5	24	restricted	restrict	VERB
cblr-12479	5	25	shares	share	NOUN
cblr-12479	5	26	or	or	CCONJ
cblr-12479	5	27	convertible	convertible	ADJ
cblr-12479	5	28	preferred	preferred	ADJ
cblr-12479	5	29	stock	stock	NOUN
cblr-12479	5	30	,	,	PUNCT
cblr-12479	5	31	incentivize	incentivize	VERB
cblr-12479	5	32	the	the	DET
cblr-12479	5	33	use	use	NOUN
cblr-12479	5	34	of	of	ADP
cblr-12479	5	35	shareholders	shareholder	NOUN
cblr-12479	5	36	’	'	PUNCT
cblr-12479	5	37	agreements	agreement	NOUN
cblr-12479	5	38	and	and	CCONJ
cblr-12479	5	39	shadow	shadow	NOUN
cblr-12479	5	40	governance	governance	NOUN
cblr-12479	5	41	structures	structure	NOUN
cblr-12479	5	42	in	in	ADP
cblr-12479	5	43	vc	vc	NOUN
cblr-12479	5	44	-	-	PUNCT
cblr-12479	5	45	backed	back	VERB
cblr-12479	5	46	companies	company	NOUN
cblr-12479	5	47	.	.	PUNCT
cblr-12479	6	1	these	these	DET
cblr-12479	6	2	findings	finding	NOUN
cblr-12479	6	3	demonstrate	demonstrate	VERB
cblr-12479	6	4	that	that	SCONJ
cblr-12479	6	5	cross	cross	ADJ
cblr-12479	6	6	-	-	ADJ
cblr-12479	6	7	country	country	ADJ
cblr-12479	6	8	differences	difference	NOUN
cblr-12479	6	9	in	in	ADP
cblr-12479	6	10	security	security	NOUN
cblr-12479	6	11	design	design	NOUN
cblr-12479	6	12	and	and	CCONJ
cblr-12479	6	13	capital	capital	NOUN
cblr-12479	6	14	structures	structure	NOUN
cblr-12479	6	15	are	be	AUX
cblr-12479	6	16	not	not	PART
cblr-12479	6	17	only	only	ADV
cblr-12479	6	18	explained	explain	VERB
cblr-12479	6	19	by	by	ADP
cblr-12479	6	20	the	the	DET
cblr-12479	6	21	characteristics	characteristic	NOUN
cblr-12479	6	22	of	of	ADP
cblr-12479	6	23	transacting	transact	VERB
cblr-12479	6	24	parties	party	NOUN
cblr-12479	6	25	and	and	CCONJ
cblr-12479	6	26	deals	deal	NOUN
cblr-12479	6	27	or	or	CCONJ
cblr-12479	6	28	by	by	ADP
cblr-12479	6	29	tax	tax	NOUN
cblr-12479	6	30	regulation	regulation	NOUN
cblr-12479	6	31	,	,	PUNCT
cblr-12479	6	32	but	but	CCONJ
cblr-12479	6	33	also	also	ADV
cblr-12479	6	34	by	by	ADP
cblr-12479	6	35	the	the	DET
cblr-12479	6	36	regulation	regulation	NOUN
cblr-12479	6	37	of	of	ADP
cblr-12479	6	38	non	non	ADJ
cblr-12479	6	39	-	-	ADJ
cblr-12479	6	40	listed	listed	ADJ
cblr-12479	6	41	companies	company	NOUN
cblr-12479	6	42	,	,	PUNCT
cblr-12479	6	43	which	which	PRON
cblr-12479	6	44	has	have	AUX
cblr-12479	6	45	been	be	AUX
cblr-12479	6	46	evolving	evolve	VERB
cblr-12479	6	47	in	in	ADP
cblr-12479	6	48	the	the	DET
cblr-12479	6	49	blind	blind	ADJ
cblr-12479	6	50	spot	spot	NOUN
cblr-12479	6	51	of	of	ADP
cblr-12479	6	52	legal	legal	ADJ
cblr-12479	6	53	and	and	CCONJ
cblr-12479	6	54	financial	financial	ADJ
cblr-12479	6	55	scholarship	scholarship	NOUN
cblr-12479	6	56	.	.	PUNCT
cblr-12479	7	1	the	the	DET
cblr-12479	7	2	paper	paper	NOUN
cblr-12479	7	3	argues	argue	VERB
cblr-12479	7	4	that	that	SCONJ
cblr-12479	7	5	corporate	corporate	ADJ
cblr-12479	7	6	laws	law	NOUN
cblr-12479	7	7	in	in	ADP
cblr-12479	7	8	entrepreneurial	entrepreneurial	ADJ
cblr-12479	7	9	economies	economy	NOUN
cblr-12479	7	10	should	should	AUX
cblr-12479	7	11	be	be	AUX
cblr-12479	7	12	recalibrated	recalibrate	VERB
cblr-12479	7	13	to	to	PART
cblr-12479	7	14	facilitate	facilitate	VERB
cblr-12479	7	15	*	*	PUNCT
cblr-12479	7	16	georgia	georgia	PROPN
cblr-12479	7	17	state	state	PROPN
cblr-12479	7	18	university	university	PROPN
cblr-12479	7	19	,	,	PUNCT
cblr-12479	7	20	college	college	NOUN
cblr-12479	7	21	of	of	ADP
cblr-12479	7	22	law	law	NOUN
cblr-12479	7	23	.	.	PUNCT
cblr-12479	8	1	for	for	ADP
cblr-12479	8	2	valuable	valuable	ADJ
cblr-12479	8	3	comments	comment	NOUN
cblr-12479	8	4	and	and	CCONJ
cblr-12479	8	5	suggestions	suggestion	NOUN
cblr-12479	8	6	,	,	PUNCT
cblr-12479	8	7	i	i	PRON
cblr-12479	8	8	thank	thank	VERB
cblr-12479	8	9	robert	robert	PROPN
cblr-12479	8	10	bartlett	bartlett	PROPN
cblr-12479	8	11	,	,	PUNCT
cblr-12479	8	12	giuseppe	giuseppe	PROPN
cblr-12479	8	13	dari	dari	PROPN
cblr-12479	8	14	mattiacci	mattiacci	PROPN
cblr-12479	8	15	,	,	PUNCT
cblr-12479	8	16	mark	mark	NOUN
cblr-12479	8	17	gentile	gentile	NOUN
cblr-12479	8	18	,	,	PUNCT
cblr-12479	8	19	svitlana	svitlana	PROPN
cblr-12479	8	20	lebedenko	lebedenko	PROPN
cblr-12479	8	21	,	,	PUNCT
cblr-12479	8	22	timothy	timothy	PROPN
cblr-12479	8	23	d.	d.	PROPN
cblr-12479	8	24	lytton	lytton	PROPN
cblr-12479	8	25	,	,	PUNCT
cblr-12479	8	26	nikolos	nikolos	PROPN
cblr-12479	8	27	schillaci	schillaci	PROPN
cblr-12479	8	28	,	,	PUNCT
cblr-12479	8	29	jamison	jamison	PROPN
cblr-12479	8	30	r	r	NOUN
cblr-12479	8	31	munns	munn	NOUN
cblr-12479	8	32	,	,	PUNCT
cblr-12479	8	33	gabriel	gabriel	PROPN
cblr-12479	8	34	rauterberg	rauterberg	PROPN
cblr-12479	8	35	,	,	PUNCT
cblr-12479	8	36	the	the	DET
cblr-12479	8	37	editors	editor	NOUN
cblr-12479	8	38	of	of	ADP
cblr-12479	8	39	the	the	DET
cblr-12479	8	40	columbia	columbia	PROPN
cblr-12479	8	41	business	business	PROPN
cblr-12479	8	42	law	law	PROPN
cblr-12479	8	43	review	review	NOUN
cblr-12479	8	44	,	,	PUNCT
cblr-12479	8	45	and	and	CCONJ
cblr-12479	8	46	the	the	DET
cblr-12479	8	47	participants	participant	NOUN
cblr-12479	8	48	at	at	ADP
cblr-12479	8	49	the	the	DET
cblr-12479	8	50	university	university	PROPN
cblr-12479	8	51	of	of	ADP
cblr-12479	8	52	pennsylvania	pennsylvania	PROPN
cblr-12479	8	53	’s	’s	PART
cblr-12479	8	54	institute	institute	PROPN
cblr-12479	8	55	for	for	ADP
cblr-12479	8	56	law	law	NOUN
cblr-12479	8	57	and	and	CCONJ
cblr-12479	8	58	economics	economic	NOUN
cblr-12479	8	59	’	'	PUNCT
cblr-12479	8	60	inaugural	inaugural	ADJ
cblr-12479	8	61	junior	junior	ADJ
cblr-12479	8	62	faculty	faculty	NOUN
cblr-12479	8	63	workshop	workshop	NOUN
cblr-12479	8	64	and	and	CCONJ
cblr-12479	8	65	the	the	DET
cblr-12479	8	66	university	university	PROPN
cblr-12479	8	67	of	of	ADP
cblr-12479	8	68	amsterdam	amsterdam	PROPN
cblr-12479	8	69	’s	’s	PART
cblr-12479	8	70	and	and	CCONJ
cblr-12479	8	71	young	young	ADJ
cblr-12479	8	72	scholars	scholar	NOUN
cblr-12479	8	73	initiative	initiative	NOUN
cblr-12479	8	74	’s	’s	PART
cblr-12479	8	75	new	new	ADJ
cblr-12479	8	76	trends	trend	NOUN
cblr-12479	8	77	in	in	ADP
cblr-12479	8	78	business	business	NOUN
cblr-12479	8	79	,	,	PUNCT
cblr-12479	8	80	corporate	corporate	ADJ
cblr-12479	8	81	and	and	CCONJ
cblr-12479	8	82	financial	financial	ADJ
cblr-12479	8	83	law	law	NOUN
cblr-12479	8	84	conference	conference	NOUN
cblr-12479	8	85	.	.	PUNCT
cblr-12479	9	1	i	i	PRON
cblr-12479	9	2	am	be	AUX
cblr-12479	9	3	also	also	ADV
cblr-12479	9	4	grateful	grateful	ADJ
cblr-12479	9	5	to	to	ADP
cblr-12479	9	6	lazzu	lazzu	PROPN
cblr-12479	9	7	shrestha	shrestha	PROPN
cblr-12479	9	8	for	for	ADP
cblr-12479	9	9	excellent	excellent	ADJ
cblr-12479	9	10	research	research	NOUN
cblr-12479	9	11	assistance	assistance	NOUN
cblr-12479	9	12	.	.	PUNCT
cblr-12479	10	1	all	all	DET
cblr-12479	10	2	shortcomings	shortcoming	NOUN
cblr-12479	10	3	remain	remain	VERB
cblr-12479	10	4	my	my	PRON
cblr-12479	10	5	own	own	ADJ
cblr-12479	10	6	.	.	PUNCT
cblr-12479	11	1	676	676	NUM
cblr-12479	11	2	columbia	columbia	PROPN
cblr-12479	11	3	business	business	NOUN
cblr-12479	11	4	law	law	NOUN
cblr-12479	11	5	review	review	NOUN
cblr-12479	11	6	[	[	X
cblr-12479	11	7	vol	vol	NOUN
cblr-12479	11	8	.	.	PUNCT
cblr-12479	11	9	2023	2023	NUM
cblr-12479	11	10	security	security	NOUN
cblr-12479	11	11	design	design	NOUN
cblr-12479	11	12	and	and	CCONJ
cblr-12479	11	13	discourage	discourage	VERB
cblr-12479	11	14	the	the	DET
cblr-12479	11	15	disproportionate	disproportionate	ADJ
cblr-12479	11	16	use	use	NOUN
cblr-12479	11	17	of	of	ADP
cblr-12479	11	18	shareholders	shareholder	NOUN
cblr-12479	11	19	’	'	PUNCT
cblr-12479	11	20	agreements	agreement	NOUN
cblr-12479	11	21	.	.	PUNCT
cblr-12479	12	1	i.	i.	PROPN
cblr-12479	12	2	introduction	introduction	NOUN
cblr-12479	12	3	...............................................................	...............................................................	PUNCT
cblr-12479	12	4	676	676	NUM
cblr-12479	12	5	ii	ii	NOUN
cblr-12479	12	6	.	.	PUNCT
cblr-12479	13	1	the	the	DET
cblr-12479	13	2	essential	essential	ADJ
cblr-12479	13	3	role	role	NOUN
cblr-12479	13	4	of	of	ADP
cblr-12479	13	5	contingent	contingent	ADJ
cblr-12479	13	6	control	control	NOUN
cblr-12479	13	7	in	in	ADP
cblr-12479	13	8	venture	venture	NOUN
cblr-12479	13	9	capital	capital	NOUN
cblr-12479	13	10	investments	investment	NOUN
cblr-12479	13	11	..................................................	..................................................	PUNCT
cblr-12479	13	12	683	683	NUM
cblr-12479	13	13	iii	iii	NOUN
cblr-12479	13	14	.	.	PUNCT
cblr-12479	14	1	the	the	DET
cblr-12479	14	2	corporate	corporate	ADJ
cblr-12479	14	3	law	law	NOUN
cblr-12479	14	4	determinants	determinant	NOUN
cblr-12479	14	5	of	of	ADP
cblr-12479	14	6	control	control	NOUN
cblr-12479	14	7	...........	...........	PUNCT
cblr-12479	14	8	692	692	NUM
cblr-12479	14	9	a.	a.	NOUN
cblr-12479	14	10	separation	separation	NOUN
cblr-12479	14	11	of	of	ADP
cblr-12479	14	12	cash	cash	NOUN
cblr-12479	14	13	flow	flow	NOUN
cblr-12479	14	14	from	from	ADP
cblr-12479	14	15	control	control	NOUN
cblr-12479	14	16	................	................	PUNCT
cblr-12479	14	17	693	693	NUM
cblr-12479	14	18	b.	b.	NOUN
cblr-12479	14	19	voting	voting	NOUN
cblr-12479	14	20	and	and	CCONJ
cblr-12479	14	21	board	board	NOUN
cblr-12479	14	22	representation	representation	NOUN
cblr-12479	14	23	.......................	.......................	PUNCT
cblr-12479	14	24	697	697	NUM
cblr-12479	14	25	1	1	X
cblr-12479	14	26	.	.	X
cblr-12479	14	27	voting	voting	NOUN
cblr-12479	14	28	and	and	CCONJ
cblr-12479	14	29	board	board	NOUN
cblr-12479	14	30	powers	power	NOUN
cblr-12479	14	31	...............................	...............................	PUNCT
cblr-12479	14	32	697	697	NUM
cblr-12479	14	33	2	2	NUM
cblr-12479	14	34	.	.	X
cblr-12479	14	35	class	class	NOUN
cblr-12479	14	36	-	-	PUNCT
cblr-12479	14	37	based	base	VERB
cblr-12479	14	38	board	board	NOUN
cblr-12479	14	39	representation	representation	NOUN
cblr-12479	14	40	................	................	PUNCT
cblr-12479	14	41	700	700	NUM
cblr-12479	14	42	c.	c.	NOUN
cblr-12479	14	43	summary	summary	NOUN
cblr-12479	14	44	.............................................................	.............................................................	PUNCT
cblr-12479	14	45	702	702	NUM
cblr-12479	14	46	iv	iv	NOUN
cblr-12479	14	47	.	.	PUNCT
cblr-12479	15	1	contingent	contingent	PROPN
cblr-12479	15	2	control	control	NOUN
cblr-12479	15	3	....................................................	....................................................	PUNCT
cblr-12479	15	4	703	703	NUM
cblr-12479	15	5	a.	a.	NOUN
cblr-12479	15	6	restricted	restrict	VERB
cblr-12479	15	7	common	common	ADJ
cblr-12479	15	8	and	and	CCONJ
cblr-12479	15	9	stock	stock	NOUN
cblr-12479	15	10	options	option	NOUN
cblr-12479	15	11	..............	..............	PUNCT
cblr-12479	16	1	703	703	NUM
cblr-12479	16	2	b.	b.	PROPN
cblr-12479	16	3	convertible	convertible	ADJ
cblr-12479	16	4	preferred	preferred	ADJ
cblr-12479	16	5	stock	stock	NOUN
cblr-12479	16	6	................................	................................	PUNCT
cblr-12479	16	7	704	704	NUM
cblr-12479	16	8	c.	c.	NOUN
cblr-12479	16	9	shareholders	shareholder	NOUN
cblr-12479	16	10	’	'	PUNCT
cblr-12479	16	11	agreements	agreement	NOUN
cblr-12479	16	12	...................................	...................................	PUNCT
cblr-12479	16	13	706	706	NUM
cblr-12479	16	14	d.	d.	PROPN
cblr-12479	16	15	summary	summary	NOUN
cblr-12479	16	16	.............................................................	.............................................................	PUNCT
cblr-12479	16	17	710	710	NUM
cblr-12479	16	18	v.	v.	ADP
cblr-12479	16	19	shareholders	shareholder	NOUN
cblr-12479	16	20	’	'	PUNCT
cblr-12479	16	21	agreements	agreement	NOUN
cblr-12479	16	22	’	'	PUNCT
cblr-12479	16	23	threat	threat	NOUN
cblr-12479	16	24	to	to	ADP
cblr-12479	16	25	corporate	corporate	ADJ
cblr-12479	16	26	law	law	NOUN
cblr-12479	16	27	and	and	CCONJ
cblr-12479	16	28	vc	vc	PROPN
cblr-12479	16	29	markets	market	NOUN
cblr-12479	16	30	.........................................................	.........................................................	PUNCT
cblr-12479	16	31	711	711	NUM
cblr-12479	16	32	a.	a.	NOUN
cblr-12479	16	33	vertical	vertical	ADJ
cblr-12479	16	34	agreements	agreement	NOUN
cblr-12479	16	35	............................................	............................................	PUNCT
cblr-12479	16	36	711	711	NUM
cblr-12479	16	37	b.	b.	PROPN
cblr-12479	16	38	horizontal	horizontal	ADJ
cblr-12479	16	39	agreements	agreement	NOUN
cblr-12479	16	40	.......................................	.......................................	PUNCT
cblr-12479	16	41	713	713	NUM
cblr-12479	16	42	c.	c.	NOUN
cblr-12479	16	43	hindering	hinder	VERB
cblr-12479	16	44	transaction	transaction	NOUN
cblr-12479	16	45	cost	cost	NOUN
cblr-12479	16	46	reductions	reduction	NOUN
cblr-12479	16	47	and	and	CCONJ
cblr-12479	16	48	judicial	judicial	ADJ
cblr-12479	16	49	scrutiny	scrutiny	NOUN
cblr-12479	16	50	.................................................	.................................................	PUNCT
cblr-12479	16	51	715	715	NUM
cblr-12479	16	52	d.	d.	PROPN
cblr-12479	16	53	summary	summary	NOUN
cblr-12479	16	54	.............................................................	.............................................................	PUNCT
cblr-12479	16	55	719	719	NUM
cblr-12479	16	56	vi	vi	NOUN
cblr-12479	16	57	.	.	PUNCT
cblr-12479	16	58	implications	implication	NOUN
cblr-12479	16	59	...............................................................	...............................................................	PUNCT
cblr-12479	16	60	719	719	NUM
cblr-12479	16	61	a.	a.	NOUN
cblr-12479	16	62	financial	financial	ADJ
cblr-12479	16	63	contracting	contracting	NOUN
cblr-12479	16	64	..........................................	..........................................	PUNCT
cblr-12479	16	65	719	719	NUM
cblr-12479	16	66	1	1	NUM
cblr-12479	16	67	.	.	PUNCT
cblr-12479	16	68	theory	theory	NOUN
cblr-12479	16	69	.............................................................	.............................................................	PUNCT
cblr-12479	16	70	720	720	NUM
cblr-12479	16	71	2	2	NUM
cblr-12479	16	72	.	.	PUNCT
cblr-12479	16	73	empirical	empirical	ADJ
cblr-12479	16	74	studies	study	NOUN
cblr-12479	16	75	...........................................	...........................................	PUNCT
cblr-12479	16	76	721	721	NUM
cblr-12479	16	77	b.	b.	PROPN
cblr-12479	16	78	corporate	corporate	ADJ
cblr-12479	16	79	law	law	NOUN
cblr-12479	16	80	design	design	NOUN
cblr-12479	16	81	.........................................	.........................................	PUNCT
cblr-12479	16	82	724	724	NUM
cblr-12479	16	83	vii	vii	PROPN
cblr-12479	16	84	.	.	PUNCT
cblr-12479	16	85	conclusion	conclusion	NOUN
cblr-12479	16	86	..................................................................	..................................................................	PUNCT
cblr-12479	16	87	726	726	NUM
cblr-12479	16	88	i.	i.	NOUN
cblr-12479	16	89	introduction	introduction	NOUN
cblr-12479	16	90	venture	venture	NOUN
cblr-12479	16	91	capital	capital	NOUN
cblr-12479	16	92	(	(	PUNCT
cblr-12479	16	93	vc	vc	NOUN
cblr-12479	16	94	)	)	PUNCT
cblr-12479	16	95	is	be	AUX
cblr-12479	16	96	a	a	DET
cblr-12479	16	97	form	form	NOUN
cblr-12479	16	98	of	of	ADP
cblr-12479	16	99	private	private	ADJ
cblr-12479	16	100	equity	equity	NOUN
cblr-12479	16	101	that	that	PRON
cblr-12479	16	102	focuses	focus	VERB
cblr-12479	16	103	on	on	ADP
cblr-12479	16	104	financing	finance	VERB
cblr-12479	16	105	young	young	ADJ
cblr-12479	16	106	and	and	CCONJ
cblr-12479	16	107	innovative	innovative	ADJ
cblr-12479	16	108	companies	company	NOUN
cblr-12479	16	109	with	with	ADP
cblr-12479	16	110	no	no	NOUN
cblr-12479	16	111	.	.	NOUN
cblr-12479	16	112	2	2	NUM
cblr-12479	16	113	]	]	PUNCT
cblr-12479	16	114	the	the	DET
cblr-12479	16	115	law	law	NOUN
cblr-12479	16	116	of	of	ADP
cblr-12479	16	117	contingent	contingent	NOUN
cblr-12479	16	118	control	control	VERB
cblr-12479	16	119	677	677	NUM
cblr-12479	16	120	high	high	ADJ
cblr-12479	16	121	risk	risk	NOUN
cblr-12479	16	122	and	and	CCONJ
cblr-12479	16	123	high	high	ADJ
cblr-12479	16	124	growth	growth	NOUN
cblr-12479	16	125	potential.1	potential.1	PROPN
cblr-12479	17	1	these	these	DET
cblr-12479	17	2	(	(	PUNCT
cblr-12479	17	3	usually	usually	ADV
cblr-12479	17	4	tech	tech	NOUN
cblr-12479	17	5	)	)	PUNCT
cblr-12479	17	6	startups	startup	NOUN
cblr-12479	17	7	are	be	AUX
cblr-12479	17	8	only	only	ADV
cblr-12479	17	9	a	a	DET
cblr-12479	17	10	small	small	ADJ
cblr-12479	17	11	portion	portion	NOUN
cblr-12479	17	12	of	of	ADP
cblr-12479	17	13	all	all	DET
cblr-12479	17	14	private	private	ADJ
cblr-12479	17	15	businesses	business	NOUN
cblr-12479	17	16	,	,	PUNCT
cblr-12479	17	17	but	but	CCONJ
cblr-12479	17	18	one	one	NUM
cblr-12479	17	19	of	of	ADP
cblr-12479	17	20	growing	grow	VERB
cblr-12479	17	21	importance	importance	NOUN
cblr-12479	17	22	worldwide.2	worldwide.2	SCONJ
cblr-12479	17	23	their	their	PRON
cblr-12479	17	24	potentially	potentially	ADV
cblr-12479	17	25	disruptive	disruptive	ADJ
cblr-12479	17	26	ideas	idea	NOUN
cblr-12479	17	27	can	can	AUX
cblr-12479	17	28	boost	boost	VERB
cblr-12479	17	29	innovation	innovation	NOUN
cblr-12479	17	30	and	and	CCONJ
cblr-12479	17	31	economic	economic	ADJ
cblr-12479	17	32	growth.3	growth.3	NOUN
cblr-12479	17	33	however	however	ADV
cblr-12479	17	34	,	,	PUNCT
cblr-12479	17	35	they	they	PRON
cblr-12479	17	36	face	face	VERB
cblr-12479	17	37	extraordinary	extraordinary	ADJ
cblr-12479	17	38	difficulties	difficulty	NOUN
cblr-12479	17	39	to	to	PART
cblr-12479	17	40	finance	finance	VERB
cblr-12479	17	41	,	,	PUNCT
cblr-12479	17	42	given	give	VERB
cblr-12479	17	43	their	their	PRON
cblr-12479	17	44	lack	lack	NOUN
cblr-12479	17	45	of	of	ADP
cblr-12479	17	46	liquid	liquid	ADJ
cblr-12479	17	47	assets	asset	NOUN
cblr-12479	17	48	and	and	CCONJ
cblr-12479	17	49	uncertainties	uncertainty	NOUN
cblr-12479	17	50	over	over	ADP
cblr-12479	17	51	their	their	PRON
cblr-12479	17	52	outcomes.4	outcomes.4	PROPN
cblr-12479	17	53	because	because	SCONJ
cblr-12479	17	54	of	of	ADP
cblr-12479	17	55	its	its	PRON
cblr-12479	17	56	focus	focus	NOUN
cblr-12479	17	57	on	on	ADP
cblr-12479	17	58	these	these	DET
cblr-12479	17	59	otherwise	otherwise	ADV
cblr-12479	17	60	unfinanceable	unfinanceable	ADJ
cblr-12479	17	61	tech	tech	NOUN
cblr-12479	17	62	startups	startup	NOUN
cblr-12479	17	63	,	,	PUNCT
cblr-12479	17	64	vc	vc	PROPN
cblr-12479	17	65	is	be	AUX
cblr-12479	17	66	conceived	conceive	VERB
cblr-12479	17	67	as	as	ADP
cblr-12479	17	68	a	a	DET
cblr-12479	17	69	powerful	powerful	ADJ
cblr-12479	17	70	tool	tool	NOUN
cblr-12479	17	71	to	to	PART
cblr-12479	17	72	stimulate	stimulate	VERB
cblr-12479	17	73	entrepreneurship	entrepreneurship	NOUN
cblr-12479	17	74	,	,	PUNCT
cblr-12479	17	75	innovation	innovation	NOUN
cblr-12479	17	76	,	,	PUNCT
cblr-12479	17	77	and	and	CCONJ
cblr-12479	17	78	dynamism	dynamism	NOUN
cblr-12479	17	79	in	in	ADP
cblr-12479	17	80	capital	capital	PROPN
cblr-12479	17	81	markets.5	markets.5	PROPN
cblr-12479	17	82	indeed	indeed	ADV
cblr-12479	17	83	,	,	PUNCT
cblr-12479	17	84	some	some	PRON
cblr-12479	17	85	of	of	ADP
cblr-12479	17	86	the	the	DET
cblr-12479	17	87	most	most	ADV
cblr-12479	17	88	disruptive	disruptive	ADJ
cblr-12479	17	89	technologies	technology	NOUN
cblr-12479	17	90	and	and	CCONJ
cblr-12479	17	91	organizations	organization	NOUN
cblr-12479	17	92	of	of	ADP
cblr-12479	17	93	the	the	DET
cblr-12479	17	94	past	past	ADJ
cblr-12479	17	95	three	three	NUM
cblr-12479	17	96	decades	decade	NOUN
cblr-12479	17	97	have	have	AUX
cblr-12479	17	98	been	be	AUX
cblr-12479	17	99	financed	finance	VERB
cblr-12479	17	100	by	by	ADP
cblr-12479	17	101	vc	vc	PROPN
cblr-12479	17	102	,	,	PUNCT
cblr-12479	17	103	and	and	CCONJ
cblr-12479	17	104	vc	vc	NOUN
cblr-12479	17	105	-	-	PUNCT
cblr-12479	17	106	backed	back	VERB
cblr-12479	17	107	firms	firm	NOUN
cblr-12479	17	108	have	have	AUX
cblr-12479	17	109	developed	develop	VERB
cblr-12479	17	110	products	product	NOUN
cblr-12479	17	111	and	and	CCONJ
cblr-12479	17	112	entered	enter	VERB
cblr-12479	17	113	the	the	DET
cblr-12479	17	114	market	market	NOUN
cblr-12479	17	115	faster.6	faster.6	NOUN
cblr-12479	17	116	vcs	vcs	PROPN
cblr-12479	17	117	have	have	AUX
cblr-12479	17	118	financed	finance	VERB
cblr-12479	17	119	the	the	DET
cblr-12479	17	120	emergence	emergence	NOUN
cblr-12479	17	121	and	and	CCONJ
cblr-12479	17	122	scaling	scaling	NOUN
cblr-12479	17	123	of	of	ADP
cblr-12479	17	124	most	most	ADJ
cblr-12479	17	125	top	top	ADJ
cblr-12479	17	126	publicly	publicly	ADV
cblr-12479	17	127	traded	trade	VERB
cblr-12479	17	128	firms	firm	NOUN
cblr-12479	17	129	by	by	ADP
cblr-12479	17	130	market	market	NOUN
cblr-12479	17	131	capitalization	capitalization	NOUN
cblr-12479	17	132	,	,	PUNCT
cblr-12479	17	133	and	and	CCONJ
cblr-12479	17	134	an	an	DET
cblr-12479	17	135	ascending	ascend	VERB
cblr-12479	17	136	number	number	NOUN
cblr-12479	17	137	of	of	ADP
cblr-12479	17	138	large	large	ADJ
cblr-12479	17	139	private	private	ADJ
cblr-12479	17	140	firms	firm	NOUN
cblr-12479	17	141	that	that	PRON
cblr-12479	17	142	currently	currently	ADV
cblr-12479	17	143	attract	attract	VERB
cblr-12479	17	144	investments	investment	NOUN
cblr-12479	17	145	from	from	ADP
cblr-12479	17	146	mutual	mutual	ADJ
cblr-12479	17	147	funds	fund	NOUN
cblr-12479	17	148	,	,	PUNCT
cblr-12479	17	149	hedge	hedge	NOUN
cblr-12479	17	150	funds	fund	NOUN
cblr-12479	17	151	,	,	PUNCT
cblr-12479	17	152	and	and	CCONJ
cblr-12479	17	153	even	even	ADV
cblr-12479	17	154	sovereign	sovereign	ADJ
cblr-12479	17	155	wealth	wealth	NOUN
cblr-12479	17	156	funds.7	funds.7	PROPN
cblr-12479	17	157	vc	vc	PROPN
cblr-12479	17	158	has	have	AUX
cblr-12479	17	159	1	1	NUM
cblr-12479	17	160	see	see	VERB
cblr-12479	17	161	generally	generally	ADV
cblr-12479	17	162	jeffrey	jeffrey	PROPN
cblr-12479	17	163	m.	m.	PROPN
cblr-12479	17	164	pollack	pollack	PROPN
cblr-12479	17	165	&	&	CCONJ
cblr-12479	17	166	thomas	thomas	PROPN
cblr-12479	17	167	h.	h.	PROPN
cblr-12479	17	168	hawver	hawver	PROPN
cblr-12479	17	169	,	,	PUNCT
cblr-12479	17	170	venture	venture	NOUN
cblr-12479	17	171	capital	capital	NOUN
cblr-12479	17	172	,	,	PUNCT
cblr-12479	17	173	in	in	ADP
cblr-12479	17	174	world	world	NOUN
cblr-12479	17	175	encyclopedia	encyclopedia	NOUN
cblr-12479	17	176	of	of	ADP
cblr-12479	17	177	entrepreneurship	entrepreneurship	NOUN
cblr-12479	17	178	642	642	NUM
cblr-12479	17	179	(	(	PUNCT
cblr-12479	17	180	léo	léo	PROPN
cblr-12479	17	181	-	-	PUNCT
cblr-12479	17	182	paul	paul	PROPN
cblr-12479	17	183	dana	dana	PROPN
cblr-12479	17	184	ed	ed	PROPN
cblr-12479	17	185	.	.	PROPN
cblr-12479	17	186	,	,	PUNCT
cblr-12479	17	187	2021	2021	NUM
cblr-12479	17	188	)	)	PUNCT
cblr-12479	17	189	.	.	PUNCT
cblr-12479	18	1	2	2	NUM
cblr-12479	18	2	see	see	VERB
cblr-12479	18	3	alvaro	alvaro	PROPN
cblr-12479	18	4	pereira	pereira	PROPN
cblr-12479	18	5	,	,	PUNCT
cblr-12479	18	6	designing	designing	NOUN
cblr-12479	18	7	startup	startup	ADJ
cblr-12479	18	8	corporate	corporate	ADJ
cblr-12479	18	9	law	law	NOUN
cblr-12479	18	10	:	:	PUNCT
cblr-12479	18	11	a	a	DET
cblr-12479	18	12	minimum	minimum	ADJ
cblr-12479	18	13	viable	viable	ADJ
cblr-12479	18	14	product	product	NOUN
cblr-12479	18	15	,	,	PUNCT
cblr-12479	18	16	42	42	NUM
cblr-12479	18	17	rev	rev	X
cblr-12479	18	18	.	.	PUNCT
cblr-12479	18	19	banking	banking	NOUN
cblr-12479	18	20	&	&	CCONJ
cblr-12479	18	21	fin	fin	PROPN
cblr-12479	18	22	.	.	PUNCT
cblr-12479	19	1	l.	l.	PROPN
cblr-12479	19	2	367	367	NUM
cblr-12479	19	3	,	,	PUNCT
cblr-12479	19	4	368	368	NUM
cblr-12479	19	5	(	(	PUNCT
cblr-12479	19	6	2022	2022	NUM
cblr-12479	19	7	)	)	PUNCT
cblr-12479	19	8	(	(	PUNCT
cblr-12479	19	9	explaining	explain	VERB
cblr-12479	19	10	that	that	SCONJ
cblr-12479	19	11	vc	vc	PROPN
cblr-12479	19	12	is	be	AUX
cblr-12479	19	13	“	"	PUNCT
cblr-12479	19	14	consolidating	consolidate	VERB
cblr-12479	19	15	massive	massive	ADJ
cblr-12479	19	16	customer	customer	NOUN
cblr-12479	19	17	bases	basis	NOUN
cblr-12479	19	18	and	and	CCONJ
cblr-12479	19	19	accumulating	accumulate	VERB
cblr-12479	19	20	capital	capital	NOUN
cblr-12479	19	21	as	as	SCONJ
cblr-12479	19	22	only	only	ADV
cblr-12479	19	23	publicly	publicly	ADV
cblr-12479	19	24	traded	trade	VERB
cblr-12479	19	25	companies	company	NOUN
cblr-12479	19	26	were	be	AUX
cblr-12479	19	27	capable	capable	ADJ
cblr-12479	19	28	not	not	PART
cblr-12479	19	29	too	too	ADV
cblr-12479	19	30	long	long	ADV
cblr-12479	19	31	ago	ago	ADV
cblr-12479	19	32	.	.	PUNCT
cblr-12479	19	33	”	"	PUNCT
cblr-12479	19	34	)	)	PUNCT
cblr-12479	19	35	.	.	PUNCT
cblr-12479	20	1	3	3	NUM
cblr-12479	20	2	see	see	VERB
cblr-12479	20	3	generally	generally	ADV
cblr-12479	20	4	josh	josh	PROPN
cblr-12479	20	5	lerner	lerner	PROPN
cblr-12479	20	6	&	&	CCONJ
cblr-12479	20	7	ramana	ramana	PROPN
cblr-12479	20	8	nanda	nanda	PROPN
cblr-12479	20	9	,	,	PUNCT
cblr-12479	20	10	venture	venture	NOUN
cblr-12479	20	11	capital	capital	NOUN
cblr-12479	20	12	’s	’s	PART
cblr-12479	20	13	role	role	NOUN
cblr-12479	20	14	in	in	ADP
cblr-12479	20	15	financing	financing	NOUN
cblr-12479	20	16	innovation	innovation	NOUN
cblr-12479	20	17	:	:	PUNCT
cblr-12479	20	18	what	what	PRON
cblr-12479	20	19	we	we	PRON
cblr-12479	20	20	know	know	VERB
cblr-12479	20	21	and	and	CCONJ
cblr-12479	20	22	how	how	SCONJ
cblr-12479	20	23	much	much	ADV
cblr-12479	20	24	we	we	PRON
cblr-12479	20	25	still	still	ADV
cblr-12479	20	26	need	need	VERB
cblr-12479	20	27	to	to	PART
cblr-12479	20	28	learn	learn	VERB
cblr-12479	20	29	,	,	PUNCT
cblr-12479	20	30	34	34	NUM
cblr-12479	20	31	j.	j.	PROPN
cblr-12479	20	32	econ	econ	PROPN
cblr-12479	20	33	.	.	PUNCT
cblr-12479	21	1	persps	persps	PROPN
cblr-12479	21	2	.	.	PUNCT
cblr-12479	22	1	237	237	NUM
cblr-12479	22	2	(	(	PUNCT
cblr-12479	22	3	2020	2020	NUM
cblr-12479	22	4	)	)	PUNCT
cblr-12479	22	5	.	.	PUNCT
cblr-12479	23	1	4	4	NUM
cblr-12479	23	2	see	see	VERB
cblr-12479	23	3	infra	infra	NOUN
cblr-12479	23	4	part	part	PROPN
cblr-12479	23	5	ii	ii	PROPN
cblr-12479	23	6	.	.	PROPN
cblr-12479	23	7	5	5	NUM
cblr-12479	23	8	bronwyn	bronwyn	PROPN
cblr-12479	23	9	h.	h.	PROPN
cblr-12479	23	10	hall	hall	PROPN
cblr-12479	23	11	&	&	CCONJ
cblr-12479	23	12	josh	josh	PROPN
cblr-12479	23	13	lerner	lerner	PROPN
cblr-12479	23	14	,	,	PUNCT
cblr-12479	23	15	the	the	DET
cblr-12479	23	16	financing	financing	NOUN
cblr-12479	23	17	of	of	ADP
cblr-12479	23	18	r&d	r&d	NOUN
cblr-12479	23	19	and	and	CCONJ
cblr-12479	23	20	innovation	innovation	NOUN
cblr-12479	23	21	,	,	PUNCT
cblr-12479	23	22	in	in	ADP
cblr-12479	23	23	1	1	NUM
cblr-12479	23	24	handbook	handbook	NOUN
cblr-12479	23	25	of	of	ADP
cblr-12479	23	26	the	the	DET
cblr-12479	23	27	economics	economic	NOUN
cblr-12479	23	28	of	of	ADP
cblr-12479	23	29	innovation	innovation	NOUN
cblr-12479	23	30	609	609	NUM
cblr-12479	23	31	(	(	PUNCT
cblr-12479	23	32	bronwyn	bronwyn	PROPN
cblr-12479	23	33	h.	h.	PROPN
cblr-12479	23	34	hall	hall	PROPN
cblr-12479	23	35	&	&	CCONJ
cblr-12479	23	36	nathan	nathan	PROPN
cblr-12479	23	37	rosenberg	rosenberg	PROPN
cblr-12479	23	38	eds	eds	PROPN
cblr-12479	23	39	.	.	PROPN
cblr-12479	23	40	,	,	PUNCT
cblr-12479	23	41	2010	2010	NUM
cblr-12479	23	42	)	)	PUNCT
cblr-12479	23	43	.	.	PUNCT
cblr-12479	24	1	6	6	NUM
cblr-12479	24	2	thomas	thomas	PROPN
cblr-12479	24	3	hellmann	hellmann	PROPN
cblr-12479	24	4	&	&	CCONJ
cblr-12479	24	5	manju	manju	PROPN
cblr-12479	24	6	puri	puri	PROPN
cblr-12479	24	7	,	,	PUNCT
cblr-12479	24	8	venture	venture	NOUN
cblr-12479	24	9	capital	capital	NOUN
cblr-12479	24	10	and	and	CCONJ
cblr-12479	24	11	the	the	DET
cblr-12479	24	12	professionalization	professionalization	NOUN
cblr-12479	24	13	of	of	ADP
cblr-12479	24	14	start	start	NOUN
cblr-12479	24	15	-	-	PUNCT
cblr-12479	24	16	up	up	ADP
cblr-12479	24	17	firms	firm	NOUN
cblr-12479	24	18	:	:	PUNCT
cblr-12479	24	19	empirical	empirical	ADJ
cblr-12479	24	20	evidence	evidence	NOUN
cblr-12479	24	21	,	,	PUNCT
cblr-12479	24	22	57	57	NUM
cblr-12479	24	23	j.	j.	PROPN
cblr-12479	24	24	fin	fin	PROPN
cblr-12479	24	25	.	.	PUNCT
cblr-12479	24	26	169	169	NUM
cblr-12479	24	27	(	(	PUNCT
cblr-12479	24	28	2002	2002	NUM
cblr-12479	24	29	)	)	PUNCT
cblr-12479	24	30	.	.	PUNCT
cblr-12479	25	1	7	7	NUM
cblr-12479	25	2	see	see	VERB
cblr-12479	25	3	lerner	lerner	NOUN
cblr-12479	25	4	and	and	CCONJ
cblr-12479	25	5	nanda	nanda	ADV
cblr-12479	25	6	,	,	PUNCT
cblr-12479	25	7	supra	supra	NOUN
cblr-12479	25	8	note	note	NOUN
cblr-12479	25	9	3	3	NUM
cblr-12479	25	10	,	,	PUNCT
cblr-12479	25	11	at	at	ADP
cblr-12479	25	12	238	238	NUM
cblr-12479	25	13	,	,	PUNCT
cblr-12479	25	14	240	240	NUM
cblr-12479	25	15	;	;	PUNCT
cblr-12479	25	16	see	see	VERB
cblr-12479	25	17	also	also	ADV
cblr-12479	25	18	will	will	AUX
cblr-12479	25	19	gornall	gornall	PROPN
cblr-12479	25	20	&	&	CCONJ
cblr-12479	25	21	ilya	ilya	PROPN
cblr-12479	25	22	a.	a.	PROPN
cblr-12479	25	23	strebulaev	strebulaev	PROPN
cblr-12479	25	24	,	,	PUNCT
cblr-12479	25	25	the	the	DET
cblr-12479	25	26	economic	economic	ADJ
cblr-12479	25	27	impact	impact	NOUN
cblr-12479	25	28	of	of	ADP
cblr-12479	25	29	venture	venture	NOUN
cblr-12479	25	30	capital	capital	NOUN
cblr-12479	25	31	:	:	PUNCT
cblr-12479	25	32	evidence	evidence	NOUN
cblr-12479	25	33	from	from	ADP
cblr-12479	25	34	public	public	ADJ
cblr-12479	25	35	companies	company	NOUN
cblr-12479	25	36	15–55	15–55	PROPN
cblr-12479	25	37	(	(	PUNCT
cblr-12479	25	38	stanford	stanford	PROPN
cblr-12479	25	39	university	university	PROPN
cblr-12479	25	40	graduate	graduate	PROPN
cblr-12479	25	41	school	school	NOUN
cblr-12479	25	42	of	of	ADP
cblr-12479	25	43	business	business	NOUN
cblr-12479	25	44	research	research	NOUN
cblr-12479	25	45	paper	paper	NOUN
cblr-12479	25	46	,	,	PUNCT
cblr-12479	25	47	paper	paper	NOUN
cblr-12479	25	48	no	no	NOUN
cblr-12479	25	49	.	.	PROPN
cblr-12479	25	50	3362	3362	NUM
cblr-12479	25	51	,	,	PUNCT
cblr-12479	25	52	2015	2015	NUM
cblr-12479	25	53	)	)	PUNCT
cblr-12479	25	54	,	,	PUNCT
cblr-12479	25	55	https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2681841	https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2681841	PROPN
cblr-12479	26	1	[	[	X
cblr-12479	26	2	https://perma.cc/a5t6-2ps3	https://perma.cc/a5t6-2ps3	NOUN
cblr-12479	26	3	]	]	X
cblr-12479	26	4	.	.	PUNCT
cblr-12479	27	1	678	678	NUM
cblr-12479	27	2	columbia	columbia	PROPN
cblr-12479	27	3	business	business	NOUN
cblr-12479	27	4	law	law	PROPN
cblr-12479	27	5	review	review	NOUN
cblr-12479	27	6	[	[	X
cblr-12479	27	7	vol	vol	NOUN
cblr-12479	27	8	.	.	PUNCT
cblr-12479	27	9	2023	2023	NUM
cblr-12479	27	10	also	also	ADV
cblr-12479	27	11	influenced	influence	VERB
cblr-12479	27	12	the	the	DET
cblr-12479	27	13	emergence	emergence	NOUN
cblr-12479	27	14	of	of	ADP
cblr-12479	27	15	new	new	ADJ
cblr-12479	27	16	financial	financial	ADJ
cblr-12479	27	17	intermediaries	intermediary	NOUN
cblr-12479	27	18	,	,	PUNCT
cblr-12479	27	19	such	such	ADJ
cblr-12479	27	20	as	as	ADP
cblr-12479	27	21	accelerators	accelerator	NOUN
cblr-12479	27	22	,	,	PUNCT
cblr-12479	27	23	incubators	incubator	NOUN
cblr-12479	27	24	,	,	PUNCT
cblr-12479	27	25	and	and	CCONJ
cblr-12479	27	26	angel	angel	NOUN
cblr-12479	27	27	investors	investor	NOUN
cblr-12479	27	28	,	,	PUNCT
cblr-12479	27	29	expanding	expand	VERB
cblr-12479	27	30	the	the	DET
cblr-12479	27	31	range	range	NOUN
cblr-12479	27	32	of	of	ADP
cblr-12479	27	33	startup	startup	NOUN
cblr-12479	27	34	companies	company	NOUN
cblr-12479	27	35	(	(	PUNCT
cblr-12479	27	36	and	and	CCONJ
cblr-12479	27	37	innovative	innovative	ADJ
cblr-12479	27	38	ideas	idea	NOUN
cblr-12479	27	39	)	)	PUNCT
cblr-12479	27	40	that	that	PRON
cblr-12479	27	41	can	can	AUX
cblr-12479	27	42	access	access	VERB
cblr-12479	27	43	external	external	ADJ
cblr-12479	27	44	finance.8	finance.8	NOUN
cblr-12479	27	45	fostering	foster	VERB
cblr-12479	27	46	vc	vc	PROPN
cblr-12479	27	47	is	be	AUX
cblr-12479	27	48	,	,	PUNCT
cblr-12479	27	49	thus	thus	ADV
cblr-12479	27	50	,	,	PUNCT
cblr-12479	27	51	aligned	align	VERB
cblr-12479	27	52	with	with	ADP
cblr-12479	27	53	the	the	DET
cblr-12479	27	54	goal	goal	NOUN
cblr-12479	27	55	of	of	ADP
cblr-12479	27	56	stimulating	stimulate	VERB
cblr-12479	27	57	startup	startup	NOUN
cblr-12479	27	58	growth	growth	NOUN
cblr-12479	27	59	,	,	PUNCT
cblr-12479	27	60	and	and	CCONJ
cblr-12479	27	61	understanding	understand	VERB
cblr-12479	27	62	its	its	PRON
cblr-12479	27	63	determinants	determinant	NOUN
cblr-12479	27	64	is	be	AUX
cblr-12479	27	65	a	a	DET
cblr-12479	27	66	prerequisite	prerequisite	NOUN
cblr-12479	27	67	for	for	ADP
cblr-12479	27	68	sound	sound	ADJ
cblr-12479	27	69	economic	economic	ADJ
cblr-12479	27	70	policy	policy	NOUN
cblr-12479	27	71	in	in	ADP
cblr-12479	27	72	entrepreneurial	entrepreneurial	ADJ
cblr-12479	27	73	economies	economy	NOUN
cblr-12479	27	74	.	.	PUNCT
cblr-12479	28	1	three	three	NUM
cblr-12479	28	2	decades	decade	NOUN
cblr-12479	28	3	of	of	ADP
cblr-12479	28	4	financial	financial	ADJ
cblr-12479	28	5	theory	theory	NOUN
cblr-12479	28	6	and	and	CCONJ
cblr-12479	28	7	empirical	empirical	ADJ
cblr-12479	28	8	studies	study	NOUN
cblr-12479	28	9	have	have	AUX
cblr-12479	28	10	shown	show	VERB
cblr-12479	28	11	that	that	SCONJ
cblr-12479	28	12	a	a	DET
cblr-12479	28	13	distinctive	distinctive	ADJ
cblr-12479	28	14	aspect	aspect	NOUN
cblr-12479	28	15	of	of	ADP
cblr-12479	28	16	vc	vc	PROPN
cblr-12479	28	17	finance	finance	NOUN
cblr-12479	28	18	is	be	AUX
cblr-12479	28	19	control.9	control.9	PROPN
cblr-12479	28	20	vcs	vcs	PROPN
cblr-12479	28	21	cap	cap	VERB
cblr-12479	28	22	risks	risk	NOUN
cblr-12479	28	23	and	and	CCONJ
cblr-12479	28	24	procure	procure	NOUN
cblr-12479	28	25	returns	return	NOUN
cblr-12479	28	26	within	within	ADP
cblr-12479	28	27	a	a	DET
cblr-12479	28	28	given	give	VERB
cblr-12479	28	29	fund	fund	NOUN
cblr-12479	28	30	’s	’s	PART
cblr-12479	28	31	lifespan	lifespan	NOUN
cblr-12479	28	32	by	by	ADP
cblr-12479	28	33	actively	actively	ADV
cblr-12479	28	34	participating	participate	VERB
cblr-12479	28	35	in	in	ADP
cblr-12479	28	36	the	the	DET
cblr-12479	28	37	governance	governance	NOUN
cblr-12479	28	38	of	of	ADP
cblr-12479	28	39	the	the	DET
cblr-12479	28	40	companies	company	NOUN
cblr-12479	28	41	in	in	ADP
cblr-12479	28	42	which	which	PRON
cblr-12479	28	43	they	they	PRON
cblr-12479	28	44	invest.10	invest.10	VERB
cblr-12479	28	45	unlike	unlike	ADP
cblr-12479	28	46	other	other	ADJ
cblr-12479	28	47	private	private	ADJ
cblr-12479	28	48	equity	equity	NOUN
cblr-12479	28	49	investors	investor	NOUN
cblr-12479	28	50	,	,	PUNCT
cblr-12479	28	51	vcs	vcs	PROPN
cblr-12479	28	52	do	do	AUX
cblr-12479	28	53	not	not	PART
cblr-12479	28	54	always	always	ADV
cblr-12479	28	55	seize	seize	VERB
cblr-12479	28	56	control	control	NOUN
cblr-12479	28	57	.	.	PUNCT
cblr-12479	29	1	instead	instead	ADV
cblr-12479	29	2	,	,	PUNCT
cblr-12479	29	3	decisionmaking	decisionmake	VERB
cblr-12479	29	4	powers	power	NOUN
cblr-12479	29	5	in	in	ADP
cblr-12479	29	6	portfolio	portfolio	NOUN
cblr-12479	29	7	companies	company	NOUN
cblr-12479	29	8	are	be	AUX
cblr-12479	29	9	shared	share	VERB
cblr-12479	29	10	;	;	PUNCT
cblr-12479	29	11	more	more	ADV
cblr-12479	29	12	specifically	specifically	ADV
cblr-12479	29	13	,	,	PUNCT
cblr-12479	29	14	they	they	PRON
cblr-12479	29	15	are	be	AUX
cblr-12479	29	16	distributed	distribute	VERB
cblr-12479	29	17	among	among	ADP
cblr-12479	29	18	participants	participant	NOUN
cblr-12479	29	19	at	at	ADP
cblr-12479	29	20	different	different	ADJ
cblr-12479	29	21	stages	stage	NOUN
cblr-12479	29	22	,	,	PUNCT
cblr-12479	29	23	based	base	VERB
cblr-12479	29	24	on	on	ADP
cblr-12479	29	25	observable	observable	ADJ
cblr-12479	29	26	and	and	CCONJ
cblr-12479	29	27	verifiable	verifiable	ADJ
cblr-12479	29	28	measures	measure	NOUN
cblr-12479	29	29	of	of	ADP
cblr-12479	29	30	financial	financial	ADJ
cblr-12479	29	31	and	and	CCONJ
cblr-12479	29	32	non	non	ADJ
cblr-12479	29	33	-	-	ADJ
cblr-12479	29	34	financial	financial	ADJ
cblr-12479	29	35	performance.11	performance.11	NOUN
cblr-12479	29	36	generally	generally	ADV
cblr-12479	29	37	,	,	PUNCT
cblr-12479	29	38	founders	founder	NOUN
cblr-12479	29	39	are	be	AUX
cblr-12479	29	40	rewarded	reward	VERB
cblr-12479	29	41	with	with	ADP
cblr-12479	29	42	higher	high	ADJ
cblr-12479	29	43	decision	decision	NOUN
cblr-12479	29	44	-	-	PUNCT
cblr-12479	29	45	making	make	VERB
cblr-12479	29	46	rights	right	NOUN
cblr-12479	29	47	when	when	SCONJ
cblr-12479	29	48	a	a	DET
cblr-12479	29	49	company	company	NOUN
cblr-12479	29	50	meets	meet	VERB
cblr-12479	29	51	or	or	CCONJ
cblr-12479	29	52	exceeds	exceed	VERB
cblr-12479	29	53	expectations	expectation	NOUN
cblr-12479	29	54	,	,	PUNCT
cblr-12479	29	55	and	and	CCONJ
cblr-12479	29	56	investors	investor	NOUN
cblr-12479	29	57	take	take	VERB
cblr-12479	29	58	hold	hold	NOUN
cblr-12479	29	59	of	of	ADP
cblr-12479	29	60	such	such	ADJ
cblr-12479	29	61	rights	right	NOUN
cblr-12479	29	62	,	,	PUNCT
cblr-12479	29	63	at	at	ADP
cblr-12479	29	64	the	the	DET
cblr-12479	29	65	expense	expense	NOUN
cblr-12479	29	66	of	of	ADP
cblr-12479	29	67	founders	founder	NOUN
cblr-12479	29	68	,	,	PUNCT
cblr-12479	29	69	when	when	SCONJ
cblr-12479	29	70	companies	company	NOUN
cblr-12479	29	71	underperform.12	underperform.12	VERB
cblr-12479	29	72	crucially	crucially	ADV
cblr-12479	29	73	,	,	PUNCT
cblr-12479	29	74	these	these	DET
cblr-12479	29	75	allocations	allocation	NOUN
cblr-12479	29	76	can	can	AUX
cblr-12479	29	77	be	be	AUX
cblr-12479	29	78	8	8	NUM
cblr-12479	29	79	lerner	lerner	PROPN
cblr-12479	29	80	&	&	CCONJ
cblr-12479	29	81	nanda	nanda	PROPN
cblr-12479	29	82	,	,	PUNCT
cblr-12479	29	83	supra	supra	PROPN
cblr-12479	29	84	note	note	NOUN
cblr-12479	29	85	3	3	NUM
cblr-12479	29	86	,	,	PUNCT
cblr-12479	29	87	at	at	ADP
cblr-12479	29	88	237	237	NUM
cblr-12479	29	89	.	.	PUNCT
cblr-12479	30	1	9	9	NUM
cblr-12479	30	2	see	see	VERB
cblr-12479	30	3	generally	generally	ADV
cblr-12479	30	4	marco	marco	PROPN
cblr-12479	30	5	da	da	PROPN
cblr-12479	30	6	rin	rin	PROPN
cblr-12479	30	7	,	,	PUNCT
cblr-12479	30	8	thomas	thomas	PROPN
cblr-12479	30	9	hellmann	hellmann	PROPN
cblr-12479	30	10	&	&	CCONJ
cblr-12479	30	11	manju	manju	PROPN
cblr-12479	30	12	puri	puri	PROPN
cblr-12479	30	13	,	,	PUNCT
cblr-12479	30	14	a	a	DET
cblr-12479	30	15	survey	survey	NOUN
cblr-12479	30	16	of	of	ADP
cblr-12479	30	17	venture	venture	NOUN
cblr-12479	30	18	capital	capital	NOUN
cblr-12479	30	19	research	research	NOUN
cblr-12479	30	20	,	,	PUNCT
cblr-12479	30	21	in	in	ADP
cblr-12479	30	22	2	2	NUM
cblr-12479	30	23	handbook	handbook	NOUN
cblr-12479	30	24	of	of	ADP
cblr-12479	30	25	the	the	DET
cblr-12479	30	26	economics	economic	NOUN
cblr-12479	30	27	of	of	ADP
cblr-12479	30	28	finance	finance	NOUN
cblr-12479	30	29	573	573	NUM
cblr-12479	30	30	,	,	PUNCT
cblr-12479	30	31	589–595	589–595	NUM
cblr-12479	30	32	(	(	PUNCT
cblr-12479	30	33	george	george	PROPN
cblr-12479	30	34	m.	m.	PROPN
cblr-12479	30	35	constantinides	constantinide	VERB
cblr-12479	30	36	,	,	PUNCT
cblr-12479	30	37	milton	milton	PROPN
cblr-12479	30	38	harris	harris	PROPN
cblr-12479	30	39	,	,	PUNCT
cblr-12479	30	40	&	&	CCONJ
cblr-12479	30	41	rene	rene	PROPN
cblr-12479	30	42	m.	m.	PROPN
cblr-12479	30	43	stulz	stulz	PROPN
cblr-12479	30	44	eds	ed	NOUN
cblr-12479	30	45	.	.	PROPN
cblr-12479	30	46	2013	2013	NUM
cblr-12479	30	47	)	)	PUNCT
cblr-12479	30	48	;	;	PUNCT
cblr-12479	30	49	see	see	VERB
cblr-12479	30	50	also	also	ADV
cblr-12479	30	51	infra	infra	VERB
cblr-12479	30	52	part	part	PROPN
cblr-12479	30	53	ii	ii	PROPN
cblr-12479	30	54	.	.	PROPN
cblr-12479	30	55	10	10	NUM
cblr-12479	30	56	see	see	VERB
cblr-12479	30	57	pollack	pollack	PROPN
cblr-12479	30	58	&	&	CCONJ
cblr-12479	30	59	hawver	hawver	PROPN
cblr-12479	30	60	,	,	PUNCT
cblr-12479	30	61	supra	supra	PROPN
cblr-12479	30	62	note	note	PROPN
cblr-12479	30	63	1	1	NUM
cblr-12479	30	64	,	,	PUNCT
cblr-12479	30	65	at	at	ADP
cblr-12479	30	66	643	643	NUM
cblr-12479	30	67	.	.	NOUN
cblr-12479	30	68	11	11	NUM
cblr-12479	30	69	see	see	VERB
cblr-12479	30	70	infra	infra	NOUN
cblr-12479	30	71	part	part	NOUN
cblr-12479	30	72	ii	ii	NOUN
cblr-12479	30	73	;	;	PUNCT
cblr-12479	30	74	see	see	VERB
cblr-12479	30	75	generally	generally	ADV
cblr-12479	30	76	erik	erik	PROPN
cblr-12479	30	77	berglöf	berglöf	PROPN
cblr-12479	30	78	,	,	PUNCT
cblr-12479	30	79	a	a	DET
cblr-12479	30	80	control	control	NOUN
cblr-12479	30	81	theory	theory	NOUN
cblr-12479	30	82	of	of	ADP
cblr-12479	30	83	venture	venture	NOUN
cblr-12479	30	84	capital	capital	NOUN
cblr-12479	30	85	finance	finance	NOUN
cblr-12479	30	86	,	,	PUNCT
cblr-12479	30	87	10	10	NUM
cblr-12479	30	88	j.	j.	PROPN
cblr-12479	30	89	l.	l.	PROPN
cblr-12479	30	90	econ	econ	PROPN
cblr-12479	30	91	.	.	PROPN
cblr-12479	30	92	&	&	CCONJ
cblr-12479	30	93	org	org	PROPN
cblr-12479	30	94	.	.	PROPN
cblr-12479	31	1	247	247	NUM
cblr-12479	31	2	(	(	PUNCT
cblr-12479	31	3	1994	1994	NUM
cblr-12479	31	4	)	)	PUNCT
cblr-12479	31	5	;	;	PUNCT
cblr-12479	32	1	thomas	thomas	PROPN
cblr-12479	32	2	hellmann	hellmann	PROPN
cblr-12479	32	3	,	,	PUNCT
cblr-12479	32	4	the	the	DET
cblr-12479	32	5	allocation	allocation	NOUN
cblr-12479	32	6	of	of	ADP
cblr-12479	32	7	control	control	NOUN
cblr-12479	32	8	rights	right	NOUN
cblr-12479	32	9	in	in	ADP
cblr-12479	32	10	venture	venture	NOUN
cblr-12479	32	11	capital	capital	NOUN
cblr-12479	32	12	contracts	contract	NOUN
cblr-12479	32	13	,	,	PUNCT
cblr-12479	32	14	29	29	NUM
cblr-12479	32	15	rand	rand	PROPN
cblr-12479	32	16	j.	j.	PROPN
cblr-12479	32	17	econ	econ	PROPN
cblr-12479	32	18	.	.	PUNCT
cblr-12479	32	19	57	57	NUM
cblr-12479	32	20	(	(	PUNCT
cblr-12479	32	21	1998	1998	NUM
cblr-12479	32	22	)	)	PUNCT
cblr-12479	32	23	;	;	PUNCT
cblr-12479	32	24	william	william	PROPN
cblr-12479	32	25	w.	w.	PROPN
cblr-12479	32	26	bratton	bratton	PROPN
cblr-12479	32	27	,	,	PUNCT
cblr-12479	32	28	venture	venture	NOUN
cblr-12479	32	29	capital	capital	NOUN
cblr-12479	32	30	on	on	ADP
cblr-12479	32	31	the	the	DET
cblr-12479	32	32	downside	downside	NOUN
cblr-12479	32	33	:	:	PUNCT
cblr-12479	32	34	preferred	preferred	ADJ
cblr-12479	32	35	stock	stock	NOUN
cblr-12479	32	36	and	and	CCONJ
cblr-12479	32	37	corporate	corporate	ADJ
cblr-12479	32	38	control	control	NOUN
cblr-12479	32	39	,	,	PUNCT
cblr-12479	32	40	100	100	NUM
cblr-12479	32	41	mich	mich	X
cblr-12479	32	42	.	.	PUNCT
cblr-12479	32	43	l.	l.	PROPN
cblr-12479	32	44	rev	rev	PROPN
cblr-12479	32	45	.	.	PROPN
cblr-12479	32	46	891	891	NUM
cblr-12479	32	47	(	(	PUNCT
cblr-12479	32	48	2002	2002	NUM
cblr-12479	32	49	)	)	PUNCT
cblr-12479	32	50	.	.	PUNCT
cblr-12479	33	1	12	12	NUM
cblr-12479	33	2	steven	steven	PROPN
cblr-12479	33	3	n.	n.	PROPN
cblr-12479	33	4	kaplan	kaplan	PROPN
cblr-12479	33	5	&	&	CCONJ
cblr-12479	33	6	per	per	ADP
cblr-12479	33	7	strömberg	strömberg	NOUN
cblr-12479	33	8	,	,	PUNCT
cblr-12479	33	9	financial	financial	ADJ
cblr-12479	33	10	contracting	contracting	NOUN
cblr-12479	33	11	theory	theory	NOUN
cblr-12479	33	12	meets	meet	VERB
cblr-12479	33	13	the	the	DET
cblr-12479	33	14	real	real	ADJ
cblr-12479	33	15	world	world	NOUN
cblr-12479	33	16	:	:	PUNCT
cblr-12479	33	17	an	an	DET
cblr-12479	33	18	empirical	empirical	ADJ
cblr-12479	33	19	analysis	analysis	NOUN
cblr-12479	33	20	of	of	ADP
cblr-12479	33	21	venture	venture	NOUN
cblr-12479	33	22	capital	capital	NOUN
cblr-12479	33	23	contracts	contract	NOUN
cblr-12479	33	24	,	,	PUNCT
cblr-12479	33	25	70	70	NUM
cblr-12479	33	26	rev	rev	X
cblr-12479	33	27	.	.	PROPN
cblr-12479	33	28	econ	econ	PROPN
cblr-12479	33	29	.	.	PUNCT
cblr-12479	33	30	stud	stud	PROPN
cblr-12479	33	31	.	.	PUNCT
cblr-12479	34	1	281	281	NUM
cblr-12479	34	2	,	,	PUNCT
cblr-12479	34	3	282	282	NUM
cblr-12479	34	4	(	(	PUNCT
cblr-12479	34	5	2003	2003	NUM
cblr-12479	34	6	)	)	PUNCT
cblr-12479	34	7	(	(	PUNCT
cblr-12479	34	8	“	"	PUNCT
cblr-12479	34	9	in	in	ADP
cblr-12479	34	10	general	general	ADJ
cblr-12479	34	11	,	,	PUNCT
cblr-12479	34	12	board	board	NOUN
cblr-12479	34	13	rights	right	NOUN
cblr-12479	34	14	,	,	PUNCT
cblr-12479	34	15	voting	voting	NOUN
cblr-12479	34	16	rights	right	NOUN
cblr-12479	34	17	,	,	PUNCT
cblr-12479	34	18	and	and	CCONJ
cblr-12479	34	19	liquidation	liquidation	NOUN
cblr-12479	34	20	rights	right	NOUN
cblr-12479	34	21	are	be	AUX
cblr-12479	34	22	allocated	allocate	VERB
cblr-12479	34	23	such	such	ADJ
cblr-12479	34	24	that	that	SCONJ
cblr-12479	34	25	if	if	SCONJ
cblr-12479	34	26	the	the	DET
cblr-12479	34	27	firm	firm	NOUN
cblr-12479	34	28	performs	perform	VERB
cblr-12479	34	29	poorly	poorly	ADV
cblr-12479	34	30	,	,	PUNCT
cblr-12479	34	31	the	the	DET
cblr-12479	34	32	vcs	vcs	NOUN
cblr-12479	34	33	obtain	obtain	VERB
cblr-12479	34	34	full	full	ADJ
cblr-12479	34	35	control	control	NOUN
cblr-12479	34	36	.	.	PUNCT
cblr-12479	35	1	as	as	SCONJ
cblr-12479	35	2	performance	performance	NOUN
cblr-12479	35	3	improves	improve	VERB
cblr-12479	35	4	,	,	PUNCT
cblr-12479	35	5	the	the	DET
cblr-12479	35	6	entrepreneur	entrepreneur	NOUN
cblr-12479	35	7	retains	retain	VERB
cblr-12479	35	8	/	/	PUNCT
cblr-12479	35	9	obtains	obtain	VERB
cblr-12479	35	10	more	more	ADJ
cblr-12479	35	11	control	control	NOUN
cblr-12479	35	12	rights	right	NOUN
cblr-12479	35	13	.	.	PUNCT
cblr-12479	36	1	if	if	SCONJ
cblr-12479	36	2	the	the	DET
cblr-12479	36	3	firm	firm	NOUN
cblr-12479	36	4	performs	perform	VERB
cblr-12479	36	5	very	very	ADV
cblr-12479	36	6	well	well	ADV
cblr-12479	36	7	,	,	PUNCT
cblr-12479	36	8	the	the	DET
cblr-12479	36	9	vcs	vcs	PROPN
cblr-12479	36	10	retain	retain	VERB
cblr-12479	36	11	their	their	PRON
cblr-12479	36	12	cash	cash	NOUN
cblr-12479	36	13	flow	flow	NOUN
cblr-12479	36	14	rights	right	NOUN
cblr-12479	36	15	,	,	PUNCT
cblr-12479	36	16	but	but	CCONJ
cblr-12479	36	17	relinquish	relinquish	VERB
cblr-12479	36	18	most	most	ADJ
cblr-12479	36	19	of	of	ADP
cblr-12479	36	20	their	their	PRON
cblr-12479	36	21	control	control	NOUN
cblr-12479	36	22	and	and	CCONJ
cblr-12479	36	23	liquidation	liquidation	NOUN
cblr-12479	36	24	rights	right	NOUN
cblr-12479	36	25	.	.	PUNCT
cblr-12479	36	26	”	"	PUNCT
cblr-12479	36	27	)	)	PUNCT
cblr-12479	36	28	.	.	PUNCT
cblr-12479	37	1	no	no	INTJ
cblr-12479	37	2	.	.	NOUN
cblr-12479	38	1	2	2	NUM
cblr-12479	38	2	]	]	PUNCT
cblr-12479	38	3	the	the	DET
cblr-12479	38	4	law	law	NOUN
cblr-12479	38	5	of	of	ADP
cblr-12479	38	6	contingent	contingent	NOUN
cblr-12479	38	7	control	control	NOUN
cblr-12479	38	8	679	679	NUM
cblr-12479	38	9	made	make	VERB
cblr-12479	38	10	ex	ex	PRON
cblr-12479	38	11	ante	ante	NOUN
cblr-12479	38	12	,	,	PUNCT
cblr-12479	38	13	avoiding	avoid	VERB
cblr-12479	38	14	the	the	DET
cblr-12479	38	15	costs	cost	NOUN
cblr-12479	38	16	and	and	CCONJ
cblr-12479	38	17	potential	potential	ADJ
cblr-12479	38	18	failure	failure	NOUN
cblr-12479	38	19	of	of	ADP
cblr-12479	38	20	future	future	ADJ
cblr-12479	38	21	negotiations.13	negotiations.13	NOUN
cblr-12479	38	22	by	by	ADP
cblr-12479	38	23	making	make	VERB
cblr-12479	38	24	control	control	NOUN
cblr-12479	38	25	contingent	contingent	NOUN
cblr-12479	38	26	on	on	ADP
cblr-12479	38	27	performance	performance	NOUN
cblr-12479	38	28	,	,	PUNCT
cblr-12479	38	29	vcs	vcs	NOUN
cblr-12479	38	30	not	not	PART
cblr-12479	38	31	only	only	ADV
cblr-12479	38	32	protect	protect	VERB
cblr-12479	38	33	their	their	PRON
cblr-12479	38	34	interests	interest	NOUN
cblr-12479	38	35	,	,	PUNCT
cblr-12479	38	36	but	but	CCONJ
cblr-12479	38	37	also	also	ADV
cblr-12479	38	38	alleviate	alleviate	VERB
cblr-12479	38	39	problems	problem	NOUN
cblr-12479	38	40	of	of	ADP
cblr-12479	38	41	incomplete	incomplete	ADJ
cblr-12479	38	42	contracting	contracting	NOUN
cblr-12479	38	43	and	and	CCONJ
cblr-12479	38	44	moral	moral	ADJ
cblr-12479	38	45	hazard	hazard	NOUN
cblr-12479	38	46	,	,	PUNCT
cblr-12479	38	47	preserving	preserve	VERB
cblr-12479	38	48	the	the	DET
cblr-12479	38	49	right	right	ADJ
cblr-12479	38	50	incentives	incentive	NOUN
cblr-12479	38	51	at	at	ADP
cblr-12479	38	52	critical	critical	ADJ
cblr-12479	38	53	moments	moment	NOUN
cblr-12479	38	54	and	and	CCONJ
cblr-12479	38	55	contributing	contribute	VERB
cblr-12479	38	56	to	to	ADP
cblr-12479	38	57	companies	company	NOUN
cblr-12479	38	58	’	'	PUNCT
cblr-12479	38	59	successes	success	NOUN
cblr-12479	38	60	.	.	PUNCT
cblr-12479	39	1	a	a	DET
cblr-12479	39	2	central	central	ADJ
cblr-12479	39	3	way	way	NOUN
cblr-12479	39	4	in	in	ADP
cblr-12479	39	5	which	which	PRON
cblr-12479	39	6	contingent	contingent	NOUN
cblr-12479	39	7	control	control	NOUN
cblr-12479	39	8	is	be	AUX
cblr-12479	39	9	structured	structure	VERB
cblr-12479	39	10	in	in	ADP
cblr-12479	39	11	vc	vc	PROPN
cblr-12479	39	12	-	-	PUNCT
cblr-12479	39	13	backed	back	VERB
cblr-12479	39	14	companies	company	NOUN
cblr-12479	39	15	is	be	AUX
cblr-12479	39	16	through	through	ADP
cblr-12479	39	17	a	a	DET
cblr-12479	39	18	capital	capital	NOUN
cblr-12479	39	19	structure	structure	NOUN
cblr-12479	39	20	comprised	comprise	VERB
cblr-12479	39	21	of	of	ADP
cblr-12479	39	22	at	at	ADV
cblr-12479	39	23	least	least	ADV
cblr-12479	39	24	two	two	NUM
cblr-12479	39	25	types	type	NOUN
cblr-12479	39	26	of	of	ADP
cblr-12479	39	27	shares.14	shares.14	PROPN
cblr-12479	39	28	investors	investor	NOUN
cblr-12479	39	29	,	,	PUNCT
cblr-12479	39	30	on	on	ADP
cblr-12479	39	31	the	the	DET
cblr-12479	39	32	one	one	NUM
cblr-12479	39	33	hand	hand	NOUN
cblr-12479	39	34	,	,	PUNCT
cblr-12479	39	35	acquire	acquire	VERB
cblr-12479	39	36	shares	share	NOUN
cblr-12479	39	37	with	with	ADP
cblr-12479	39	38	preferential	preferential	ADJ
cblr-12479	39	39	rights	right	NOUN
cblr-12479	39	40	,	,	PUNCT
cblr-12479	39	41	such	such	ADJ
cblr-12479	39	42	as	as	ADP
cblr-12479	39	43	priority	priority	NOUN
cblr-12479	39	44	on	on	ADP
cblr-12479	39	45	proceeds	proceed	NOUN
cblr-12479	39	46	of	of	ADP
cblr-12479	39	47	liquidations	liquidation	NOUN
cblr-12479	39	48	,	,	PUNCT
cblr-12479	39	49	redemption	redemption	NOUN
cblr-12479	39	50	rights	right	NOUN
cblr-12479	39	51	,	,	PUNCT
cblr-12479	39	52	antidilution	antidilution	NOUN
cblr-12479	39	53	protections	protection	NOUN
cblr-12479	39	54	,	,	PUNCT
cblr-12479	39	55	and	and	CCONJ
cblr-12479	39	56	automatic	automatic	ADJ
cblr-12479	39	57	conversion	conversion	NOUN
cblr-12479	39	58	to	to	ADP
cblr-12479	39	59	common	common	ADJ
cblr-12479	39	60	shares	share	NOUN
cblr-12479	39	61	,	,	PUNCT
cblr-12479	39	62	which	which	PRON
cblr-12479	39	63	allow	allow	VERB
cblr-12479	39	64	them	they	PRON
cblr-12479	39	65	to	to	PART
cblr-12479	39	66	expand	expand	VERB
cblr-12479	39	67	or	or	CCONJ
cblr-12479	39	68	relinquish	relinquish	VERB
cblr-12479	39	69	control	control	NOUN
cblr-12479	39	70	,	,	PUNCT
cblr-12479	39	71	at	at	ADP
cblr-12479	39	72	will	will	NOUN
cblr-12479	39	73	or	or	CCONJ
cblr-12479	39	74	when	when	SCONJ
cblr-12479	39	75	a	a	DET
cblr-12479	39	76	condition	condition	NOUN
cblr-12479	39	77	is	be	AUX
cblr-12479	39	78	met.15	met.15	NOUN
cblr-12479	39	79	founders	founder	NOUN
cblr-12479	39	80	,	,	PUNCT
cblr-12479	39	81	on	on	ADP
cblr-12479	39	82	the	the	DET
cblr-12479	39	83	other	other	ADJ
cblr-12479	39	84	hand	hand	NOUN
cblr-12479	39	85	,	,	PUNCT
cblr-12479	39	86	receive	receive	VERB
cblr-12479	39	87	shares	share	NOUN
cblr-12479	39	88	with	with	ADP
cblr-12479	39	89	restricted	restricted	ADJ
cblr-12479	39	90	governance	governance	NOUN
cblr-12479	39	91	rights	right	NOUN
cblr-12479	39	92	,	,	PUNCT
cblr-12479	39	93	which	which	PRON
cblr-12479	39	94	are	be	AUX
cblr-12479	39	95	enhanced	enhance	VERB
cblr-12479	39	96	or	or	CCONJ
cblr-12479	39	97	further	far	ADV
cblr-12479	39	98	restricted	restrict	VERB
cblr-12479	39	99	based	base	VERB
cblr-12479	39	100	on	on	ADP
cblr-12479	39	101	performance.16	performance.16	PROPN
cblr-12479	39	102	the	the	DET
cblr-12479	39	103	ability	ability	NOUN
cblr-12479	39	104	to	to	PART
cblr-12479	39	105	design	design	VERB
cblr-12479	39	106	these	these	DET
cblr-12479	39	107	types	type	NOUN
cblr-12479	39	108	of	of	ADP
cblr-12479	39	109	securities	security	NOUN
cblr-12479	39	110	and	and	CCONJ
cblr-12479	39	111	capital	capital	NOUN
cblr-12479	39	112	structure	structure	NOUN
cblr-12479	39	113	is	be	AUX
cblr-12479	39	114	crucial	crucial	ADJ
cblr-12479	39	115	for	for	ADP
cblr-12479	39	116	the	the	DET
cblr-12479	39	117	emergence	emergence	NOUN
cblr-12479	39	118	and	and	CCONJ
cblr-12479	39	119	growth	growth	NOUN
cblr-12479	39	120	of	of	ADP
cblr-12479	39	121	innovative	innovative	ADJ
cblr-12479	39	122	firms	firm	NOUN
cblr-12479	39	123	,	,	PUNCT
cblr-12479	39	124	as	as	SCONJ
cblr-12479	39	125	they	they	PRON
cblr-12479	39	126	might	might	AUX
cblr-12479	39	127	expand	expand	VERB
cblr-12479	39	128	the	the	DET
cblr-12479	39	129	range	range	NOUN
cblr-12479	39	130	of	of	ADP
cblr-12479	39	131	efficient	efficient	ADJ
cblr-12479	39	132	contracting	contracting	NOUN
cblr-12479	39	133	between	between	ADP
cblr-12479	39	134	entrepreneurs	entrepreneur	NOUN
cblr-12479	39	135	and	and	CCONJ
cblr-12479	39	136	vcs	vcs	PROPN
cblr-12479	39	137	—	—	PUNCT
cblr-12479	39	138	and	and	CCONJ
cblr-12479	39	139	,	,	PUNCT
cblr-12479	39	140	in	in	ADP
cblr-12479	39	141	turn	turn	NOUN
cblr-12479	39	142	,	,	PUNCT
cblr-12479	39	143	the	the	DET
cblr-12479	39	144	number	number	NOUN
cblr-12479	39	145	of	of	ADP
cblr-12479	39	146	startups	startup	NOUN
cblr-12479	39	147	capable	capable	ADJ
cblr-12479	39	148	of	of	ADP
cblr-12479	39	149	raising	raise	VERB
cblr-12479	39	150	vc	vc	PROPN
cblr-12479	39	151	finance	finance	NOUN
cblr-12479	39	152	.	.	PUNCT
cblr-12479	40	1	although	although	SCONJ
cblr-12479	40	2	companies	company	NOUN
cblr-12479	40	3	’	'	PUNCT
cblr-12479	40	4	governance	governance	NOUN
cblr-12479	40	5	and	and	CCONJ
cblr-12479	40	6	capital	capital	NOUN
cblr-12479	40	7	structures	structure	NOUN
cblr-12479	40	8	are	be	AUX
cblr-12479	40	9	ultimately	ultimately	ADV
cblr-12479	40	10	delimited	delimit	VERB
cblr-12479	40	11	by	by	ADP
cblr-12479	40	12	corporate	corporate	ADJ
cblr-12479	40	13	law	law	NOUN
cblr-12479	40	14	,	,	PUNCT
cblr-12479	40	15	policymakers	policymaker	NOUN
cblr-12479	40	16	and	and	CCONJ
cblr-12479	40	17	both	both	CCONJ
cblr-12479	40	18	legal	legal	ADJ
cblr-12479	40	19	and	and	CCONJ
cblr-12479	40	20	financial	financial	ADJ
cblr-12479	40	21	contracting	contracting	NOUN
cblr-12479	40	22	scholars	scholar	NOUN
cblr-12479	40	23	have	have	VERB
cblr-12479	40	24	generally	generally	ADV
cblr-12479	40	25	13	13	NUM
cblr-12479	40	26	d.	d.	PROPN
cblr-12479	40	27	gordon	gordon	PROPN
cblr-12479	40	28	smith	smith	PROPN
cblr-12479	40	29	,	,	PUNCT
cblr-12479	40	30	the	the	DET
cblr-12479	40	31	exit	exit	NOUN
cblr-12479	40	32	structure	structure	NOUN
cblr-12479	40	33	of	of	ADP
cblr-12479	40	34	venture	venture	NOUN
cblr-12479	40	35	capital	capital	NOUN
cblr-12479	40	36	,	,	PUNCT
cblr-12479	40	37	53	53	NUM
cblr-12479	40	38	ucla	ucla	PROPN
cblr-12479	40	39	l.	l.	PROPN
cblr-12479	40	40	rev	rev	PROPN
cblr-12479	40	41	.	.	PROPN
cblr-12479	40	42	315	315	NUM
cblr-12479	40	43	,	,	PUNCT
cblr-12479	40	44	337	337	NUM
cblr-12479	40	45	(	(	PUNCT
cblr-12479	40	46	2005	2005	NUM
cblr-12479	40	47	)	)	PUNCT
cblr-12479	40	48	(	(	PUNCT
cblr-12479	40	49	“	"	PUNCT
cblr-12479	40	50	rather	rather	ADV
cblr-12479	40	51	than	than	ADP
cblr-12479	40	52	leaving	leave	VERB
cblr-12479	40	53	control	control	NOUN
cblr-12479	40	54	up	up	ADP
cblr-12479	40	55	for	for	ADP
cblr-12479	40	56	grabs	grab	NOUN
cblr-12479	40	57	,	,	PUNCT
cblr-12479	40	58	venture	venture	NOUN
cblr-12479	40	59	capitalists	capitalist	NOUN
cblr-12479	40	60	and	and	CCONJ
cblr-12479	40	61	entrepreneurs	entrepreneur	NOUN
cblr-12479	40	62	bargain	bargain	VERB
cblr-12479	40	63	explicitly	explicitly	ADV
cblr-12479	40	64	for	for	ADP
cblr-12479	40	65	control	control	NOUN
cblr-12479	40	66	through	through	ADP
cblr-12479	40	67	a	a	DET
cblr-12479	40	68	combination	combination	NOUN
cblr-12479	40	69	of	of	ADP
cblr-12479	40	70	express	express	ADJ
cblr-12479	40	71	allocation	allocation	NOUN
cblr-12479	40	72	provisions	provision	NOUN
cblr-12479	40	73	and	and	CCONJ
cblr-12479	40	74	voting	voting	NOUN
cblr-12479	40	75	rights	right	NOUN
cblr-12479	40	76	.	.	PUNCT
cblr-12479	40	77	”	"	PUNCT
cblr-12479	41	1	)	)	PUNCT
cblr-12479	41	2	14	14	NUM
cblr-12479	41	3	see	see	VERB
cblr-12479	41	4	infra	infra	NOUN
cblr-12479	41	5	part	part	NOUN
cblr-12479	41	6	iv	iv	NUM
cblr-12479	41	7	.	.	PROPN
cblr-12479	41	8	15	15	NUM
cblr-12479	41	9	see	see	VERB
cblr-12479	41	10	kaplan	kaplan	PROPN
cblr-12479	41	11	&	&	CCONJ
cblr-12479	41	12	strömberg	strömberg	PROPN
cblr-12479	41	13	,	,	PUNCT
cblr-12479	41	14	supra	supra	PROPN
cblr-12479	41	15	note	note	PROPN
cblr-12479	41	16	12	12	NUM
cblr-12479	41	17	,	,	PUNCT
cblr-12479	41	18	at	at	ADP
cblr-12479	41	19	290	290	NUM
cblr-12479	41	20	-	-	SYM
cblr-12479	41	21	95	95	NUM
cblr-12479	41	22	(	(	PUNCT
cblr-12479	41	23	describing	describe	VERB
cblr-12479	41	24	the	the	DET
cblr-12479	41	25	function	function	NOUN
cblr-12479	41	26	of	of	ADP
cblr-12479	41	27	these	these	DET
cblr-12479	41	28	rights	right	NOUN
cblr-12479	41	29	and	and	CCONJ
cblr-12479	41	30	their	their	PRON
cblr-12479	41	31	prevalence	prevalence	NOUN
cblr-12479	41	32	in	in	ADP
cblr-12479	41	33	the	the	DET
cblr-12479	41	34	u.s	u.s	PROPN
cblr-12479	41	35	.	.	PROPN
cblr-12479	41	36	)	)	PUNCT
cblr-12479	41	37	.	.	PUNCT
cblr-12479	42	1	for	for	ADP
cblr-12479	42	2	an	an	DET
cblr-12479	42	3	overview	overview	NOUN
cblr-12479	42	4	of	of	ADP
cblr-12479	42	5	the	the	DET
cblr-12479	42	6	rights	right	NOUN
cblr-12479	42	7	allocated	allocate	VERB
cblr-12479	42	8	to	to	ADP
cblr-12479	42	9	holders	holder	NOUN
cblr-12479	42	10	of	of	ADP
cblr-12479	42	11	preferred	preferred	ADJ
cblr-12479	42	12	shares	share	NOUN
cblr-12479	42	13	,	,	PUNCT
cblr-12479	42	14	see	see	VERB
cblr-12479	42	15	william	william	PROPN
cblr-12479	42	16	w.	w.	PROPN
cblr-12479	42	17	bratton	bratton	PROPN
cblr-12479	42	18	,	,	PUNCT
cblr-12479	42	19	corporate	corporate	ADJ
cblr-12479	42	20	finance	finance	NOUN
cblr-12479	42	21	:	:	PUNCT
cblr-12479	42	22	cases	case	NOUN
cblr-12479	42	23	and	and	CCONJ
cblr-12479	42	24	materials	material	NOUN
cblr-12479	42	25	735–741	735–741	NUM
cblr-12479	42	26	(	(	PUNCT
cblr-12479	42	27	7th	7th	ADJ
cblr-12479	42	28	ed	ed	NOUN
cblr-12479	42	29	.	.	PROPN
cblr-12479	42	30	2012	2012	NUM
cblr-12479	42	31	)	)	PUNCT
cblr-12479	42	32	.	.	PUNCT
cblr-12479	43	1	16	16	NUM
cblr-12479	43	2	founders	founder	NOUN
cblr-12479	43	3	may	may	AUX
cblr-12479	43	4	also	also	ADV
cblr-12479	43	5	receive	receive	VERB
cblr-12479	43	6	stock	stock	NOUN
cblr-12479	43	7	options	option	NOUN
cblr-12479	43	8	,	,	PUNCT
cblr-12479	43	9	although	although	SCONJ
cblr-12479	43	10	those	those	PRON
cblr-12479	43	11	are	be	AUX
cblr-12479	43	12	imperfect	imperfect	ADJ
cblr-12479	43	13	substitutes	substitute	NOUN
cblr-12479	43	14	and	and	CCONJ
cblr-12479	43	15	thus	thus	ADV
cblr-12479	43	16	usually	usually	ADV
cblr-12479	43	17	allocated	allocate	VERB
cblr-12479	43	18	to	to	ADP
cblr-12479	43	19	employees	employee	NOUN
cblr-12479	43	20	.	.	PUNCT
cblr-12479	44	1	see	see	VERB
cblr-12479	44	2	infra	infra	NOUN
cblr-12479	44	3	section	section	NOUN
cblr-12479	44	4	iv.a	iv.a	VERB
cblr-12479	44	5	.	.	PUNCT
cblr-12479	45	1	see	see	VERB
cblr-12479	45	2	also	also	ADV
cblr-12479	45	3	jess	jess	PROPN
cblr-12479	45	4	h.	h.	PROPN
cblr-12479	45	5	chua	chua	PROPN
cblr-12479	45	6	&	&	CCONJ
cblr-12479	45	7	richard	richard	PROPN
cblr-12479	45	8	s.	s.	PROPN
cblr-12479	45	9	woodward	woodward	PROPN
cblr-12479	45	10	,	,	PUNCT
cblr-12479	45	11	splitting	split	VERB
cblr-12479	45	12	the	the	DET
cblr-12479	45	13	firm	firm	NOUN
cblr-12479	45	14	between	between	ADP
cblr-12479	45	15	the	the	DET
cblr-12479	45	16	entrepreneur	entrepreneur	NOUN
cblr-12479	45	17	and	and	CCONJ
cblr-12479	45	18	the	the	DET
cblr-12479	45	19	venture	venture	NOUN
cblr-12479	45	20	capitalist	capitalist	NOUN
cblr-12479	45	21	with	with	ADP
cblr-12479	45	22	the	the	DET
cblr-12479	45	23	help	help	NOUN
cblr-12479	45	24	of	of	ADP
cblr-12479	45	25	stock	stock	NOUN
cblr-12479	45	26	options	option	NOUN
cblr-12479	45	27	,	,	PUNCT
cblr-12479	45	28	8	8	NUM
cblr-12479	45	29	j.	j.	PROPN
cblr-12479	45	30	bus	bus	PROPN
cblr-12479	45	31	.	.	PUNCT
cblr-12479	46	1	venturing	venture	VERB
cblr-12479	46	2	43	43	NUM
cblr-12479	46	3	(	(	PUNCT
cblr-12479	46	4	1993	1993	NUM
cblr-12479	46	5	)	)	PUNCT
cblr-12479	46	6	.	.	PUNCT
cblr-12479	47	1	680	680	NUM
cblr-12479	47	2	columbia	columbia	PROPN
cblr-12479	47	3	business	business	NOUN
cblr-12479	47	4	law	law	NOUN
cblr-12479	47	5	review	review	NOUN
cblr-12479	47	6	[	[	X
cblr-12479	47	7	vol	vol	NOUN
cblr-12479	47	8	.	.	PUNCT
cblr-12479	47	9	2023	2023	NUM
cblr-12479	47	10	overlooked	overlook	VERB
cblr-12479	47	11	the	the	DET
cblr-12479	47	12	extent	extent	NOUN
cblr-12479	47	13	to	to	PART
cblr-12479	47	14	which	which	PRON
cblr-12479	47	15	it	it	PRON
cblr-12479	47	16	may	may	AUX
cblr-12479	47	17	facilitate	facilitate	VERB
cblr-12479	47	18	or	or	CCONJ
cblr-12479	47	19	discourage	discourage	VERB
cblr-12479	47	20	security	security	NOUN
cblr-12479	47	21	design.17	design.17	NOUN
cblr-12479	47	22	an	an	DET
cblr-12479	47	23	emerging	emerge	VERB
cblr-12479	47	24	legal	legal	ADJ
cblr-12479	47	25	literature	literature	NOUN
cblr-12479	47	26	examining	examine	VERB
cblr-12479	47	27	corporate	corporate	ADJ
cblr-12479	47	28	law	law	NOUN
cblr-12479	47	29	incentives	incentive	VERB
cblr-12479	47	30	to	to	PART
cblr-12479	47	31	vc	vc	VERB
cblr-12479	47	32	around	around	ADP
cblr-12479	47	33	the	the	DET
cblr-12479	47	34	world	world	NOUN
cblr-12479	47	35	has	have	AUX
cblr-12479	47	36	found	find	VERB
cblr-12479	47	37	that	that	SCONJ
cblr-12479	47	38	several	several	ADJ
cblr-12479	47	39	noteworthy	noteworthy	ADJ
cblr-12479	47	40	reforms	reform	NOUN
cblr-12479	47	41	do	do	AUX
cblr-12479	47	42	not	not	PART
cblr-12479	47	43	facilitate	facilitate	VERB
cblr-12479	47	44	security	security	NOUN
cblr-12479	47	45	design	design	NOUN
cblr-12479	47	46	to	to	ADP
cblr-12479	47	47	structure	structure	NOUN
cblr-12479	47	48	contingent	contingent	NOUN
cblr-12479	47	49	control.18	control.18	NOUN
cblr-12479	47	50	it	it	PRON
cblr-12479	47	51	is	be	AUX
cblr-12479	47	52	an	an	DET
cblr-12479	47	53	indication	indication	NOUN
cblr-12479	47	54	that	that	SCONJ
cblr-12479	47	55	even	even	ADV
cblr-12479	47	56	in	in	ADP
cblr-12479	47	57	countries	country	NOUN
cblr-12479	47	58	where	where	SCONJ
cblr-12479	47	59	vc	vc	PROPN
cblr-12479	47	60	is	be	AUX
cblr-12479	47	61	actively	actively	ADV
cblr-12479	47	62	promoted	promote	VERB
cblr-12479	47	63	,	,	PUNCT
cblr-12479	47	64	only	only	ADV
cblr-12479	47	65	a	a	DET
cblr-12479	47	66	few	few	ADJ
cblr-12479	47	67	extremely	extremely	ADV
cblr-12479	47	68	promising	promising	ADJ
cblr-12479	47	69	projects	project	NOUN
cblr-12479	47	70	might	might	AUX
cblr-12479	47	71	be	be	AUX
cblr-12479	47	72	getting	get	VERB
cblr-12479	47	73	access	access	NOUN
cblr-12479	47	74	to	to	ADP
cblr-12479	47	75	vc	vc	PROPN
cblr-12479	47	76	—	—	PUNCT
cblr-12479	47	77	those	those	PRON
cblr-12479	47	78	for	for	ADP
cblr-12479	47	79	which	which	PRON
cblr-12479	47	80	investors	investor	NOUN
cblr-12479	47	81	are	be	AUX
cblr-12479	47	82	willing	willing	ADJ
cblr-12479	47	83	to	to	PART
cblr-12479	47	84	assume	assume	VERB
cblr-12479	47	85	higher	high	ADJ
cblr-12479	47	86	legal	legal	ADJ
cblr-12479	47	87	risks	risk	NOUN
cblr-12479	47	88	or	or	CCONJ
cblr-12479	47	89	in	in	ADP
cblr-12479	47	90	which	which	PRON
cblr-12479	47	91	parties	party	NOUN
cblr-12479	47	92	settle	settle	VERB
cblr-12479	47	93	for	for	ADP
cblr-12479	47	94	suboptimal	suboptimal	ADJ
cblr-12479	47	95	governance	governance	NOUN
cblr-12479	47	96	and	and	CCONJ
cblr-12479	47	97	capital	capital	NOUN
cblr-12479	47	98	structures.19	structures.19	PROPN
cblr-12479	47	99	recent	recent	ADJ
cblr-12479	47	100	evidence	evidence	NOUN
cblr-12479	47	101	also	also	ADV
cblr-12479	47	102	shows	show	VERB
cblr-12479	47	103	that	that	SCONJ
cblr-12479	47	104	vc	vc	NOUN
cblr-12479	47	105	-	-	PUNCT
cblr-12479	47	106	backed	back	VERB
cblr-12479	47	107	firms	firm	NOUN
cblr-12479	47	108	over	over	ADV
cblr-12479	47	109	-	-	PUNCT
cblr-12479	47	110	rely	rely	NOUN
cblr-12479	47	111	on	on	ADP
cblr-12479	47	112	private	private	ADJ
cblr-12479	47	113	agreements	agreement	NOUN
cblr-12479	47	114	to	to	PART
cblr-12479	47	115	structure	structure	VERB
cblr-12479	47	116	their	their	PRON
cblr-12479	47	117	governance,20	governance,20	NOUN
cblr-12479	47	118	likely	likely	ADJ
cblr-12479	47	119	to	to	PART
cblr-12479	47	120	circumvent	circumvent	VERB
cblr-12479	47	121	legal	legal	ADJ
cblr-12479	47	122	barriers	barrier	NOUN
cblr-12479	47	123	to	to	ADP
cblr-12479	47	124	security	security	NOUN
cblr-12479	47	125	17	17	NUM
cblr-12479	47	126	pereira	pereira	PROPN
cblr-12479	47	127	,	,	PUNCT
cblr-12479	47	128	supra	supra	PROPN
cblr-12479	47	129	note	note	NOUN
cblr-12479	47	130	2	2	NUM
cblr-12479	47	131	,	,	PUNCT
cblr-12479	47	132	at	at	ADP
cblr-12479	47	133	373	373	NUM
cblr-12479	47	134	(	(	PUNCT
cblr-12479	47	135	exploring	explore	VERB
cblr-12479	47	136	the	the	DET
cblr-12479	47	137	main	main	ADJ
cblr-12479	47	138	reasons	reason	NOUN
cblr-12479	47	139	for	for	ADP
cblr-12479	47	140	the	the	DET
cblr-12479	47	141	lack	lack	NOUN
cblr-12479	47	142	of	of	ADP
cblr-12479	47	143	scholarly	scholarly	ADJ
cblr-12479	47	144	attention	attention	NOUN
cblr-12479	47	145	to	to	ADP
cblr-12479	47	146	the	the	DET
cblr-12479	47	147	corporate	corporate	ADJ
cblr-12479	47	148	law	law	NOUN
cblr-12479	47	149	determinants	determinant	NOUN
cblr-12479	47	150	of	of	ADP
cblr-12479	47	151	vc	vc	PROPN
cblr-12479	47	152	)	)	PUNCT
cblr-12479	47	153	.	.	PUNCT
cblr-12479	48	1	18	18	NUM
cblr-12479	48	2	see	see	VERB
cblr-12479	48	3	,	,	PUNCT
cblr-12479	48	4	e.g.	e.g.	ADV
cblr-12479	48	5	,	,	PUNCT
cblr-12479	48	6	alvaro	alvaro	PROPN
cblr-12479	48	7	pereira	pereira	PROPN
cblr-12479	48	8	,	,	PUNCT
cblr-12479	48	9	simplified	simplify	VERB
cblr-12479	48	10	corporations	corporation	NOUN
cblr-12479	48	11	and	and	CCONJ
cblr-12479	48	12	entrepreneurship	entrepreneurship	NOUN
cblr-12479	48	13	,	,	PUNCT
cblr-12479	48	14	21	21	NUM
cblr-12479	48	15	j.	j.	PROPN
cblr-12479	48	16	corp	corp	PROPN
cblr-12479	48	17	.	.	PROPN
cblr-12479	48	18	l.	l.	PROPN
cblr-12479	48	19	stud	stud	PROPN
cblr-12479	48	20	.	.	PUNCT
cblr-12479	49	1	433	433	NUM
cblr-12479	49	2	(	(	PUNCT
cblr-12479	49	3	2021	2021	NUM
cblr-12479	49	4	)	)	PUNCT
cblr-12479	49	5	;	;	PUNCT
cblr-12479	49	6	casimiro	casimiro	PROPN
cblr-12479	49	7	a.	a.	PROPN
cblr-12479	49	8	nigro	nigro	PROPN
cblr-12479	49	9	&	&	CCONJ
cblr-12479	49	10	luca	luca	PROPN
cblr-12479	49	11	enriques	enrique	NOUN
cblr-12479	49	12	,	,	PUNCT
cblr-12479	49	13	venture	venture	NOUN
cblr-12479	49	14	capital	capital	NOUN
cblr-12479	49	15	e	e	PROPN
cblr-12479	49	16	diritto	diritto	PROPN
cblr-12479	49	17	societario	societario	PROPN
cblr-12479	49	18	italiano	italiano	PROPN
cblr-12479	49	19	:	:	PUNCT
cblr-12479	49	20	un	un	PROPN
cblr-12479	49	21	rapporto	rapporto	PROPN
cblr-12479	49	22	difficile	difficile	PROPN
cblr-12479	49	23	,	,	PUNCT
cblr-12479	49	24	2021	2021	NUM
cblr-12479	49	25	analisi	analisi	VERB
cblr-12479	49	26	giuridica	giuridica	NOUN
cblr-12479	49	27	dell’economia	dell’economia	NOUN
cblr-12479	49	28	149	149	NUM
cblr-12479	49	29	;	;	PUNCT
cblr-12479	49	30	lin	lin	PROPN
cblr-12479	49	31	lin	lin	PROPN
cblr-12479	49	32	,	,	PUNCT
cblr-12479	49	33	contractual	contractual	ADJ
cblr-12479	49	34	innovation	innovation	NOUN
cblr-12479	49	35	in	in	ADP
cblr-12479	49	36	china	china	PROPN
cblr-12479	49	37	’s	’s	PART
cblr-12479	49	38	venture	venture	NOUN
cblr-12479	49	39	capital	capital	NOUN
cblr-12479	49	40	market	market	NOUN
cblr-12479	49	41	,	,	PUNCT
cblr-12479	49	42	21	21	NUM
cblr-12479	49	43	eur	eur	NOUN
cblr-12479	49	44	.	.	PUNCT
cblr-12479	49	45	bus	bus	NOUN
cblr-12479	49	46	.	.	PUNCT
cblr-12479	50	1	org	org	PROPN
cblr-12479	50	2	.	.	PUNCT
cblr-12479	51	1	l.	l.	PROPN
cblr-12479	51	2	rev	rev	PROPN
cblr-12479	51	3	.	.	PROPN
cblr-12479	52	1	101	101	NUM
cblr-12479	52	2	(	(	PUNCT
cblr-12479	52	3	2020	2020	NUM
cblr-12479	52	4	)	)	PUNCT
cblr-12479	52	5	;	;	PUNCT
cblr-12479	52	6	paolo	paolo	PROPN
cblr-12479	52	7	giudici	giudici	PROPN
cblr-12479	52	8	&	&	CCONJ
cblr-12479	52	9	peter	peter	PROPN
cblr-12479	52	10	agstner	agstner	PROPN
cblr-12479	52	11	,	,	PUNCT
cblr-12479	52	12	startups	startup	NOUN
cblr-12479	52	13	and	and	CCONJ
cblr-12479	52	14	company	company	NOUN
cblr-12479	52	15	law	law	NOUN
cblr-12479	52	16	:	:	PUNCT
cblr-12479	52	17	the	the	DET
cblr-12479	52	18	competitive	competitive	ADJ
cblr-12479	52	19	pressure	pressure	NOUN
cblr-12479	52	20	of	of	ADP
cblr-12479	52	21	delaware	delaware	PROPN
cblr-12479	52	22	on	on	ADP
cblr-12479	52	23	italy	italy	PROPN
cblr-12479	52	24	(	(	PUNCT
cblr-12479	52	25	and	and	CCONJ
cblr-12479	52	26	europe	europe	PROPN
cblr-12479	52	27	?	?	PUNCT
cblr-12479	52	28	)	)	PUNCT
cblr-12479	52	29	,	,	PUNCT
cblr-12479	52	30	20	20	NUM
cblr-12479	52	31	eur	eur	NOUN
cblr-12479	52	32	.	.	PUNCT
cblr-12479	52	33	bus	bus	NOUN
cblr-12479	52	34	.	.	PUNCT
cblr-12479	53	1	org	org	PROPN
cblr-12479	53	2	.	.	PUNCT
cblr-12479	54	1	l.	l.	PROPN
cblr-12479	54	2	rev	rev	PROPN
cblr-12479	54	3	.	.	PROPN
cblr-12479	55	1	597	597	NUM
cblr-12479	55	2	(	(	PUNCT
cblr-12479	55	3	2019	2019	NUM
cblr-12479	55	4	)	)	PUNCT
cblr-12479	56	1	;	;	PUNCT
cblr-12479	56	2	zenichi	zenichi	PROPN
cblr-12479	56	3	shishido	shishido	PROPN
cblr-12479	56	4	,	,	PUNCT
cblr-12479	56	5	does	do	VERB
cblr-12479	56	6	law	law	NOUN
cblr-12479	56	7	matter	matter	NOUN
cblr-12479	56	8	to	to	ADP
cblr-12479	56	9	financial	financial	ADJ
cblr-12479	56	10	capitalism	capitalism	NOUN
cblr-12479	56	11	:	:	PUNCT
cblr-12479	56	12	the	the	DET
cblr-12479	56	13	case	case	NOUN
cblr-12479	56	14	of	of	ADP
cblr-12479	56	15	japanese	japanese	ADJ
cblr-12479	56	16	entrepreneurs	entrepreneur	NOUN
cblr-12479	56	17	,	,	PUNCT
cblr-12479	56	18	37	37	NUM
cblr-12479	56	19	fordham	fordham	PROPN
cblr-12479	56	20	int’l	int’l	PROPN
cblr-12479	56	21	l.j	l.j	PROPN
cblr-12479	56	22	.	.	PROPN
cblr-12479	56	23	1087	1087	NUM
cblr-12479	56	24	(	(	PUNCT
cblr-12479	56	25	2014	2014	NUM
cblr-12479	56	26	)	)	PUNCT
cblr-12479	56	27	.	.	PUNCT
cblr-12479	57	1	19	19	NUM
cblr-12479	57	2	see	see	VERB
cblr-12479	57	3	,	,	PUNCT
cblr-12479	57	4	e.g.	e.g.	ADV
cblr-12479	57	5	,	,	PUNCT
cblr-12479	57	6	lin	lin	PROPN
cblr-12479	57	7	,	,	PUNCT
cblr-12479	57	8	supra	supra	PROPN
cblr-12479	57	9	note	note	PROPN
cblr-12479	57	10	18	18	NUM
cblr-12479	57	11	,	,	PUNCT
cblr-12479	57	12	at	at	ADP
cblr-12479	57	13	101–102	101–102	NUM
cblr-12479	57	14	(	(	PUNCT
cblr-12479	57	15	detailing	detail	VERB
cblr-12479	57	16	the	the	DET
cblr-12479	57	17	emergence	emergence	NOUN
cblr-12479	57	18	of	of	ADP
cblr-12479	57	19	a	a	DET
cblr-12479	57	20	now	now	ADV
cblr-12479	57	21	common	common	ADJ
cblr-12479	57	22	clause	clause	NOUN
cblr-12479	57	23	in	in	ADP
cblr-12479	57	24	vc	vc	NOUN
cblr-12479	57	25	financing	financing	NOUN
cblr-12479	57	26	agreements	agreement	NOUN
cblr-12479	57	27	in	in	ADP
cblr-12479	57	28	china	china	PROPN
cblr-12479	57	29	that	that	PRON
cblr-12479	57	30	gives	give	VERB
cblr-12479	57	31	excessive	excessive	ADJ
cblr-12479	57	32	powers	power	NOUN
cblr-12479	57	33	to	to	ADP
cblr-12479	57	34	investors	investor	NOUN
cblr-12479	57	35	,	,	PUNCT
cblr-12479	57	36	diminishing	diminish	VERB
cblr-12479	57	37	trust	trust	NOUN
cblr-12479	57	38	:	:	PUNCT
cblr-12479	57	39	the	the	DET
cblr-12479	57	40	valuation	valuation	NOUN
cblr-12479	57	41	adjustment	adjustment	NOUN
cblr-12479	57	42	mechanism	mechanism	NOUN
cblr-12479	57	43	“	"	PUNCT
cblr-12479	57	44	provides	provide	VERB
cblr-12479	57	45	investors	investor	NOUN
cblr-12479	57	46	with	with	ADP
cblr-12479	57	47	a	a	DET
cblr-12479	57	48	right	right	NOUN
cblr-12479	57	49	to	to	PART
cblr-12479	57	50	adjust	adjust	VERB
cblr-12479	57	51	a	a	DET
cblr-12479	57	52	portfolio	portfolio	NOUN
cblr-12479	57	53	company	company	NOUN
cblr-12479	57	54	’s	’s	PART
cblr-12479	57	55	original	original	ADJ
cblr-12479	57	56	valuation	valuation	NOUN
cblr-12479	57	57	and	and	CCONJ
cblr-12479	57	58	to	to	PART
cblr-12479	57	59	get	get	VERB
cblr-12479	57	60	compensation	compensation	NOUN
cblr-12479	57	61	by	by	ADP
cblr-12479	57	62	cash	cash	NOUN
cblr-12479	57	63	or	or	CCONJ
cblr-12479	57	64	equity	equity	NOUN
cblr-12479	57	65	upon	upon	SCONJ
cblr-12479	57	66	the	the	DET
cblr-12479	57	67	occurrence	occurrence	NOUN
cblr-12479	57	68	of	of	ADP
cblr-12479	57	69	certain	certain	ADJ
cblr-12479	57	70	future	future	ADJ
cblr-12479	57	71	events	event	NOUN
cblr-12479	57	72	(	(	PUNCT
cblr-12479	57	73	such	such	ADJ
cblr-12479	57	74	as	as	ADP
cblr-12479	57	75	failing	fail	VERB
cblr-12479	57	76	to	to	PART
cblr-12479	57	77	meet	meet	VERB
cblr-12479	57	78	financial	financial	ADJ
cblr-12479	57	79	or	or	CCONJ
cblr-12479	57	80	nonfinancial	nonfinancial	ADJ
cblr-12479	57	81	performance	performance	NOUN
cblr-12479	57	82	indicators	indicator	NOUN
cblr-12479	57	83	)	)	PUNCT
cblr-12479	57	84	.	.	PUNCT
cblr-12479	57	85	.	.	PUNCT
cblr-12479	57	86	.	.	PUNCT
cblr-12479	57	87	.	.	PUNCT
cblr-12479	58	1	unlike	unlike	ADP
cblr-12479	58	2	american	american	ADJ
cblr-12479	58	3	venture	venture	NOUN
cblr-12479	58	4	capital	capital	NOUN
cblr-12479	58	5	contracts	contract	NOUN
cblr-12479	58	6	,	,	PUNCT
cblr-12479	58	7	which	which	PRON
cblr-12479	58	8	are	be	AUX
cblr-12479	58	9	designed	design	VERB
cblr-12479	58	10	to	to	PART
cblr-12479	58	11	encourage	encourage	VERB
cblr-12479	58	12	long	long	ADJ
cblr-12479	58	13	-	-	PUNCT
cblr-12479	58	14	term	term	NOUN
cblr-12479	58	15	,	,	PUNCT
cblr-12479	58	16	sustainable	sustainable	ADJ
cblr-12479	58	17	investorentrepreneur	investorentrepreneur	NOUN
cblr-12479	58	18	relationships	relationship	NOUN
cblr-12479	58	19	,	,	PUNCT
cblr-12479	58	20	vams	vam	NOUN
cblr-12479	58	21	are	be	AUX
cblr-12479	58	22	predominantly	predominantly	ADV
cblr-12479	58	23	investors	investor	NOUN
cblr-12479	58	24	’	'	PUNCT
cblr-12479	58	25	self	self	NOUN
cblr-12479	58	26	-	-	PUNCT
cblr-12479	58	27	help	help	NOUN
cblr-12479	58	28	mechanisms	mechanism	NOUN
cblr-12479	58	29	to	to	PART
cblr-12479	58	30	address	address	VERB
cblr-12479	58	31	specific	specific	ADJ
cblr-12479	58	32	and	and	CCONJ
cblr-12479	58	33	serious	serious	ADJ
cblr-12479	58	34	investor	investor	NOUN
cblr-12479	58	35	protection	protection	NOUN
cblr-12479	58	36	issues	issue	NOUN
cblr-12479	58	37	in	in	ADP
cblr-12479	58	38	the	the	DET
cblr-12479	58	39	transitional	transitional	ADJ
cblr-12479	58	40	and	and	CCONJ
cblr-12479	58	41	less	less	ADV
cblr-12479	58	42	informed	informed	ADJ
cblr-12479	58	43	chinese	chinese	ADJ
cblr-12479	58	44	market	market	NOUN
cblr-12479	58	45	.	.	PUNCT
cblr-12479	58	46	”	"	PUNCT
cblr-12479	59	1	)	)	PUNCT
cblr-12479	59	2	20	20	NUM
cblr-12479	59	3	see	see	VERB
cblr-12479	59	4	,	,	PUNCT
cblr-12479	59	5	e.g.	e.g.	ADV
cblr-12479	59	6	,	,	PUNCT
cblr-12479	59	7	gabriel	gabriel	PROPN
cblr-12479	59	8	rauterberg	rauterberg	PROPN
cblr-12479	59	9	,	,	PUNCT
cblr-12479	59	10	the	the	DET
cblr-12479	59	11	separation	separation	NOUN
cblr-12479	59	12	of	of	ADP
cblr-12479	59	13	voting	voting	NOUN
cblr-12479	59	14	and	and	CCONJ
cblr-12479	59	15	control	control	NOUN
cblr-12479	59	16	:	:	PUNCT
cblr-12479	59	17	the	the	DET
cblr-12479	59	18	role	role	NOUN
cblr-12479	59	19	of	of	ADP
cblr-12479	59	20	contract	contract	NOUN
cblr-12479	59	21	in	in	ADP
cblr-12479	59	22	corporate	corporate	ADJ
cblr-12479	59	23	governance	governance	NOUN
cblr-12479	59	24	,	,	PUNCT
cblr-12479	59	25	38	38	NUM
cblr-12479	59	26	yale	yale	PROPN
cblr-12479	59	27	j.	j.	PROPN
cblr-12479	59	28	on	on	ADP
cblr-12479	59	29	regul	regul	NOUN
cblr-12479	59	30	.	.	PUNCT
cblr-12479	60	1	1124	1124	NUM
cblr-12479	60	2	(	(	PUNCT
cblr-12479	60	3	2021	2021	NUM
cblr-12479	60	4	)	)	PUNCT
cblr-12479	60	5	.	.	PUNCT
cblr-12479	61	1	no	no	INTJ
cblr-12479	61	2	.	.	NOUN
cblr-12479	62	1	2	2	NUM
cblr-12479	62	2	]	]	PUNCT
cblr-12479	62	3	the	the	DET
cblr-12479	62	4	law	law	NOUN
cblr-12479	62	5	of	of	ADP
cblr-12479	62	6	contingent	contingent	NOUN
cblr-12479	62	7	control	control	NOUN
cblr-12479	62	8	681	681	NUM
cblr-12479	62	9	design.21	design.21	PROPN
cblr-12479	62	10	this	this	DET
cblr-12479	62	11	tendency	tendency	NOUN
cblr-12479	62	12	of	of	ADP
cblr-12479	62	13	structuring	structure	VERB
cblr-12479	62	14	“	"	PUNCT
cblr-12479	62	15	governance	governance	NOUN
cblr-12479	62	16	through	through	ADP
cblr-12479	62	17	contract	contract	NOUN
cblr-12479	62	18	,	,	PUNCT
cblr-12479	62	19	”	"	PUNCT
cblr-12479	62	20	which	which	PRON
cblr-12479	62	21	is	be	AUX
cblr-12479	62	22	reinforced	reinforce	VERB
cblr-12479	62	23	by	by	ADP
cblr-12479	62	24	legal	legal	ADJ
cblr-12479	62	25	restrictions	restriction	NOUN
cblr-12479	62	26	to	to	ADP
cblr-12479	62	27	security	security	NOUN
cblr-12479	62	28	design	design	NOUN
cblr-12479	62	29	,	,	PUNCT
cblr-12479	62	30	reduces	reduce	VERB
cblr-12479	62	31	transparency	transparency	NOUN
cblr-12479	62	32	and	and	CCONJ
cblr-12479	62	33	exacerbates	exacerbate	VERB
cblr-12479	62	34	agency	agency	NOUN
cblr-12479	62	35	problems	problem	NOUN
cblr-12479	62	36	and	and	CCONJ
cblr-12479	62	37	transaction	transaction	NOUN
cblr-12479	62	38	costs	cost	NOUN
cblr-12479	62	39	,	,	PUNCT
cblr-12479	62	40	threatening	threaten	VERB
cblr-12479	62	41	the	the	DET
cblr-12479	62	42	development	development	NOUN
cblr-12479	62	43	of	of	ADP
cblr-12479	62	44	corporate	corporate	ADJ
cblr-12479	62	45	law	law	NOUN
cblr-12479	62	46	and	and	CCONJ
cblr-12479	62	47	,	,	PUNCT
cblr-12479	62	48	ultimately	ultimately	ADV
cblr-12479	62	49	,	,	PUNCT
cblr-12479	62	50	the	the	DET
cblr-12479	62	51	industries	industry	NOUN
cblr-12479	62	52	’	'	PUNCT
cblr-12479	62	53	own	own	VERB
cblr-12479	62	54	endurance.22	endurance.22	NOUN
cblr-12479	62	55	this	this	DET
cblr-12479	62	56	paper	paper	NOUN
cblr-12479	62	57	sustains	sustain	VERB
cblr-12479	62	58	that	that	SCONJ
cblr-12479	62	59	corporate	corporate	ADJ
cblr-12479	62	60	law	law	NOUN
cblr-12479	62	61	can	can	AUX
cblr-12479	62	62	meaningfully	meaningfully	ADV
cblr-12479	62	63	contribute	contribute	VERB
cblr-12479	62	64	to	to	ADP
cblr-12479	62	65	expanding	expand	VERB
cblr-12479	62	66	the	the	DET
cblr-12479	62	67	scope	scope	NOUN
cblr-12479	62	68	of	of	ADP
cblr-12479	62	69	startups	startup	NOUN
cblr-12479	62	70	that	that	PRON
cblr-12479	62	71	can	can	AUX
cblr-12479	62	72	access	access	VERB
cblr-12479	62	73	vc	vc	PROPN
cblr-12479	62	74	finance	finance	NOUN
cblr-12479	62	75	by	by	ADP
cblr-12479	62	76	facilitating	facilitate	VERB
cblr-12479	62	77	the	the	DET
cblr-12479	62	78	structure	structure	NOUN
cblr-12479	62	79	of	of	ADP
cblr-12479	62	80	contingent	contingent	ADJ
cblr-12479	62	81	control	control	NOUN
cblr-12479	62	82	through	through	ADP
cblr-12479	62	83	security	security	NOUN
cblr-12479	62	84	design	design	NOUN
cblr-12479	62	85	.	.	PUNCT
cblr-12479	63	1	specifically	specifically	ADV
cblr-12479	63	2	,	,	PUNCT
cblr-12479	63	3	by	by	ADP
cblr-12479	63	4	enabling	enable	VERB
cblr-12479	63	5	the	the	DET
cblr-12479	63	6	temporary	temporary	ADJ
cblr-12479	63	7	and	and	CCONJ
cblr-12479	63	8	conditional	conditional	ADJ
cblr-12479	63	9	restriction	restriction	NOUN
cblr-12479	63	10	and	and	CCONJ
cblr-12479	63	11	enhancement	enhancement	NOUN
cblr-12479	63	12	of	of	ADP
cblr-12479	63	13	voting	voting	NOUN
cblr-12479	63	14	and	and	CCONJ
cblr-12479	63	15	board	board	NOUN
cblr-12479	63	16	representation	representation	NOUN
cblr-12479	63	17	rights	right	NOUN
cblr-12479	63	18	in	in	ADP
cblr-12479	63	19	different	different	ADJ
cblr-12479	63	20	classes	class	NOUN
cblr-12479	63	21	of	of	ADP
cblr-12479	63	22	shares	share	NOUN
cblr-12479	63	23	.	.	PUNCT
cblr-12479	64	1	the	the	DET
cblr-12479	64	2	paper	paper	NOUN
cblr-12479	64	3	identifies	identify	VERB
cblr-12479	64	4	and	and	CCONJ
cblr-12479	64	5	discusses	discuss	VERB
cblr-12479	64	6	pervasive	pervasive	ADJ
cblr-12479	64	7	limits	limit	NOUN
cblr-12479	64	8	to	to	ADP
cblr-12479	64	9	private	private	ADJ
cblr-12479	64	10	firms	firm	NOUN
cblr-12479	64	11	’	'	PUNCT
cblr-12479	64	12	ability	ability	NOUN
cblr-12479	64	13	to	to	PART
cblr-12479	64	14	define	define	VERB
cblr-12479	64	15	their	their	PRON
cblr-12479	64	16	governance	governance	NOUN
cblr-12479	64	17	and	and	CCONJ
cblr-12479	64	18	capital	capital	NOUN
cblr-12479	64	19	structures	structure	NOUN
cblr-12479	64	20	with	with	ADP
cblr-12479	64	21	these	these	DET
cblr-12479	64	22	types	type	NOUN
cblr-12479	64	23	of	of	ADP
cblr-12479	64	24	securities	security	NOUN
cblr-12479	64	25	,	,	PUNCT
cblr-12479	64	26	notwithstanding	notwithstanding	ADP
cblr-12479	64	27	increasing	increase	VERB
cblr-12479	64	28	efforts	effort	NOUN
cblr-12479	64	29	to	to	PART
cblr-12479	64	30	promote	promote	VERB
cblr-12479	64	31	vc	vc	PROPN
cblr-12479	64	32	through	through	ADP
cblr-12479	64	33	corporate	corporate	ADJ
cblr-12479	64	34	law	law	NOUN
cblr-12479	64	35	reform	reform	NOUN
cblr-12479	64	36	.	.	PUNCT
cblr-12479	65	1	potentially	potentially	ADV
cblr-12479	65	2	,	,	PUNCT
cblr-12479	65	3	such	such	ADJ
cblr-12479	65	4	legal	legal	ADJ
cblr-12479	65	5	constraints	constraint	NOUN
cblr-12479	65	6	influence	influence	VERB
cblr-12479	65	7	the	the	DET
cblr-12479	65	8	rate	rate	NOUN
cblr-12479	65	9	of	of	ADP
cblr-12479	65	10	new	new	ADJ
cblr-12479	65	11	innovative	innovative	ADJ
cblr-12479	65	12	startups	startup	NOUN
cblr-12479	65	13	that	that	PRON
cblr-12479	65	14	access	access	VERB
cblr-12479	65	15	vc	vc	NOUN
cblr-12479	65	16	across	across	ADP
cblr-12479	65	17	jurisdictions	jurisdiction	NOUN
cblr-12479	65	18	.	.	PUNCT
cblr-12479	66	1	certainly	certainly	ADV
cblr-12479	66	2	,	,	PUNCT
cblr-12479	66	3	they	they	PRON
cblr-12479	66	4	encourage	encourage	VERB
cblr-12479	66	5	the	the	DET
cblr-12479	66	6	use	use	NOUN
cblr-12479	66	7	of	of	ADP
cblr-12479	66	8	contracts	contract	NOUN
cblr-12479	66	9	(	(	PUNCT
cblr-12479	66	10	e.g.	e.g.	ADV
cblr-12479	66	11	,	,	PUNCT
cblr-12479	66	12	shareholders	shareholder	NOUN
cblr-12479	66	13	’	'	PUNCT
cblr-12479	66	14	agreements	agreement	NOUN
cblr-12479	66	15	)	)	PUNCT
cblr-12479	66	16	over	over	ADP
cblr-12479	66	17	corporate	corporate	ADJ
cblr-12479	66	18	law	law	NOUN
cblr-12479	66	19	instruments	instrument	NOUN
cblr-12479	66	20	to	to	PART
cblr-12479	66	21	structure	structure	NOUN
cblr-12479	66	22	firms	firm	NOUN
cblr-12479	66	23	’	'	PUNCT
cblr-12479	66	24	governance	governance	NOUN
cblr-12479	66	25	.	.	PUNCT
cblr-12479	67	1	given	give	VERB
cblr-12479	67	2	the	the	DET
cblr-12479	67	3	opacity	opacity	NOUN
cblr-12479	67	4	of	of	ADP
cblr-12479	67	5	private	private	ADJ
cblr-12479	67	6	agreements	agreement	NOUN
cblr-12479	67	7	and	and	CCONJ
cblr-12479	67	8	their	their	PRON
cblr-12479	67	9	weakening	weakening	NOUN
cblr-12479	67	10	of	of	ADP
cblr-12479	67	11	legal	legal	ADJ
cblr-12479	67	12	protections	protection	NOUN
cblr-12479	67	13	against	against	ADP
cblr-12479	67	14	agency	agency	NOUN
cblr-12479	67	15	problems	problem	NOUN
cblr-12479	67	16	,	,	PUNCT
cblr-12479	67	17	their	their	PRON
cblr-12479	67	18	use	use	NOUN
cblr-12479	67	19	as	as	ADP
cblr-12479	67	20	substitutes	substitute	NOUN
cblr-12479	67	21	for	for	ADP
cblr-12479	67	22	corporate	corporate	ADJ
cblr-12479	67	23	law	law	NOUN
cblr-12479	67	24	should	should	AUX
cblr-12479	67	25	be	be	AUX
cblr-12479	67	26	discouraged	discourage	VERB
cblr-12479	67	27	.	.	PUNCT
cblr-12479	68	1	while	while	SCONJ
cblr-12479	68	2	there	there	PRON
cblr-12479	68	3	is	be	VERB
cblr-12479	68	4	still	still	ADV
cblr-12479	68	5	much	much	ADJ
cblr-12479	68	6	to	to	PART
cblr-12479	68	7	learn	learn	VERB
cblr-12479	68	8	about	about	ADP
cblr-12479	68	9	the	the	DET
cblr-12479	68	10	role	role	NOUN
cblr-12479	68	11	of	of	ADP
cblr-12479	68	12	contingent	contingent	ADJ
cblr-12479	68	13	control	control	NOUN
cblr-12479	68	14	and	and	CCONJ
cblr-12479	68	15	security	security	NOUN
cblr-12479	68	16	design	design	NOUN
cblr-12479	68	17	in	in	ADP
cblr-12479	68	18	venture	venture	NOUN
cblr-12479	68	19	finance	finance	NOUN
cblr-12479	68	20	,	,	PUNCT
cblr-12479	68	21	the	the	DET
cblr-12479	68	22	available	available	ADJ
cblr-12479	68	23	evidence	evidence	NOUN
cblr-12479	68	24	merits	merit	VERB
cblr-12479	68	25	a	a	DET
cblr-12479	68	26	recalibration	recalibration	NOUN
cblr-12479	68	27	of	of	ADP
cblr-12479	68	28	corporate	corporate	ADJ
cblr-12479	68	29	law	law	NOUN
cblr-12479	68	30	statutes	statute	NOUN
cblr-12479	68	31	—	—	PUNCT
cblr-12479	68	32	or	or	CCONJ
cblr-12479	68	33	,	,	PUNCT
cblr-12479	68	34	at	at	ADP
cblr-12479	68	35	least	least	ADJ
cblr-12479	68	36	,	,	PUNCT
cblr-12479	68	37	a	a	DET
cblr-12479	68	38	thorough	thorough	ADJ
cblr-12479	68	39	review	review	NOUN
cblr-12479	68	40	,	,	PUNCT
cblr-12479	68	41	informed	inform	VERB
cblr-12479	68	42	by	by	ADP
cblr-12479	68	43	current	current	ADJ
cblr-12479	68	44	market	market	NOUN
cblr-12479	68	45	practices	practice	NOUN
cblr-12479	68	46	.	.	PUNCT
cblr-12479	69	1	two	two	NUM
cblr-12479	69	2	actions	action	NOUN
cblr-12479	69	3	are	be	AUX
cblr-12479	69	4	deemed	deem	VERB
cblr-12479	69	5	of	of	ADP
cblr-12479	69	6	first	first	ADJ
cblr-12479	69	7	order	order	NOUN
cblr-12479	69	8	.	.	PUNCT
cblr-12479	70	1	first	first	ADV
cblr-12479	70	2	,	,	PUNCT
cblr-12479	70	3	to	to	PART
cblr-12479	70	4	remove	remove	VERB
cblr-12479	70	5	or	or	CCONJ
cblr-12479	70	6	otherwise	otherwise	ADV
cblr-12479	70	7	minimize	minimize	VERB
cblr-12479	70	8	legal	legal	ADJ
cblr-12479	70	9	constraints	constraint	NOUN
cblr-12479	70	10	to	to	ADP
cblr-12479	70	11	security	security	NOUN
cblr-12479	70	12	design	design	NOUN
cblr-12479	70	13	in	in	ADP
cblr-12479	70	14	non	non	ADJ
cblr-12479	70	15	-	-	ADJ
cblr-12479	70	16	listed	listed	ADJ
cblr-12479	70	17	companies	company	NOUN
cblr-12479	70	18	;	;	PUNCT
cblr-12479	70	19	in	in	ADP
cblr-12479	70	20	particular	particular	ADJ
cblr-12479	70	21	,	,	PUNCT
cblr-12479	70	22	limitations	limitation	NOUN
cblr-12479	70	23	to	to	ADP
cblr-12479	70	24	the	the	DET
cblr-12479	70	25	design	design	NOUN
cblr-12479	70	26	of	of	ADP
cblr-12479	70	27	convertible	convertible	ADJ
cblr-12479	70	28	preferred	preferred	ADJ
cblr-12479	70	29	stock	stock	NOUN
cblr-12479	70	30	,	,	PUNCT
cblr-12479	70	31	including	include	VERB
cblr-12479	70	32	limits	limit	NOUN
cblr-12479	70	33	to	to	ADP
cblr-12479	70	34	multiple	multiple	ADJ
cblr-12479	70	35	voting	voting	NOUN
cblr-12479	70	36	,	,	PUNCT
cblr-12479	70	37	board	board	NOUN
cblr-12479	70	38	representation	representation	NOUN
cblr-12479	70	39	by	by	ADP
cblr-12479	70	40	class	class	NOUN
cblr-12479	70	41	,	,	PUNCT
cblr-12479	70	42	and	and	CCONJ
cblr-12479	70	43	boards	board	NOUN
cblr-12479	70	44	’	’	PART
cblr-12479	70	45	powers	power	NOUN
cblr-12479	70	46	to	to	PART
cblr-12479	70	47	issue	issue	VERB
cblr-12479	70	48	shares	share	NOUN
cblr-12479	70	49	.	.	PUNCT
cblr-12479	71	1	second	second	ADJ
cblr-12479	71	2	,	,	PUNCT
cblr-12479	71	3	to	to	PART
cblr-12479	71	4	discourage	discourage	VERB
cblr-12479	71	5	the	the	DET
cblr-12479	71	6	use	use	NOUN
cblr-12479	71	7	of	of	ADP
cblr-12479	71	8	private	private	ADJ
cblr-12479	71	9	agreements	agreement	NOUN
cblr-12479	71	10	as	as	ADP
cblr-12479	71	11	substitutes	substitute	NOUN
cblr-12479	71	12	of	of	ADP
cblr-12479	71	13	the	the	DET
cblr-12479	71	14	articles	article	NOUN
cblr-12479	71	15	of	of	ADP
cblr-12479	71	16	21	21	NUM
cblr-12479	71	17	see	see	NOUN
cblr-12479	71	18	infra	infra	NOUN
cblr-12479	71	19	sections	section	NOUN
cblr-12479	71	20	iv.a	iv.a	VERB
cblr-12479	71	21	and	and	CCONJ
cblr-12479	71	22	iv.b	iv.b	PROPN
cblr-12479	71	23	(	(	PUNCT
cblr-12479	71	24	discussing	discuss	VERB
cblr-12479	71	25	legal	legal	ADJ
cblr-12479	71	26	barriers	barrier	NOUN
cblr-12479	71	27	across	across	ADP
cblr-12479	71	28	jurisdictions	jurisdiction	NOUN
cblr-12479	71	29	)	)	PUNCT
cblr-12479	71	30	;	;	PUNCT
cblr-12479	71	31	section	section	NOUN
cblr-12479	71	32	iv.c	iv.c	VERB
cblr-12479	71	33	(	(	PUNCT
cblr-12479	71	34	explaining	explain	VERB
cblr-12479	71	35	the	the	DET
cblr-12479	71	36	main	main	ADJ
cblr-12479	71	37	strategies	strategy	NOUN
cblr-12479	71	38	to	to	PART
cblr-12479	71	39	circumvent	circumvent	VERB
cblr-12479	71	40	those	those	DET
cblr-12479	71	41	barriers	barrier	NOUN
cblr-12479	71	42	with	with	ADP
cblr-12479	71	43	shareholders	shareholder	NOUN
cblr-12479	71	44	’	'	PUNCT
cblr-12479	71	45	agreements	agreement	NOUN
cblr-12479	71	46	.	.	PUNCT
cblr-12479	71	47	)	)	PUNCT
cblr-12479	71	48	.	.	PUNCT
cblr-12479	72	1	22	22	NUM
cblr-12479	72	2	see	see	VERB
cblr-12479	72	3	infra	infra	NOUN
cblr-12479	72	4	part	part	NOUN
cblr-12479	72	5	v.	v.	ADP
cblr-12479	72	6	682	682	NUM
cblr-12479	72	7	columbia	columbia	PROPN
cblr-12479	72	8	business	business	NOUN
cblr-12479	72	9	law	law	NOUN
cblr-12479	72	10	review	review	NOUN
cblr-12479	72	11	[	[	X
cblr-12479	72	12	vol	vol	NOUN
cblr-12479	72	13	.	.	PUNCT
cblr-12479	72	14	2023	2023	NUM
cblr-12479	72	15	incorporation	incorporation	NOUN
cblr-12479	72	16	,	,	PUNCT
cblr-12479	72	17	charters	charter	NOUN
cblr-12479	72	18	,	,	PUNCT
cblr-12479	72	19	and	and	CCONJ
cblr-12479	72	20	bylaws	bylaw	NOUN
cblr-12479	72	21	,	,	PUNCT
cblr-12479	72	22	e.g.	e.g.	ADV
cblr-12479	72	23	,	,	PUNCT
cblr-12479	72	24	limiting	limit	VERB
cblr-12479	72	25	the	the	DET
cblr-12479	72	26	enforceability	enforceability	NOUN
cblr-12479	72	27	of	of	ADP
cblr-12479	72	28	clauses	clause	NOUN
cblr-12479	72	29	inconsistent	inconsistent	ADJ
cblr-12479	72	30	with	with	ADP
cblr-12479	72	31	minimum	minimum	ADJ
cblr-12479	72	32	governance	governance	NOUN
cblr-12479	72	33	standards	standard	NOUN
cblr-12479	72	34	determined	determine	VERB
cblr-12479	72	35	by	by	ADP
cblr-12479	72	36	corporate	corporate	ADJ
cblr-12479	72	37	law	law	NOUN
cblr-12479	72	38	,	,	PUNCT
cblr-12479	72	39	such	such	ADJ
cblr-12479	72	40	as	as	ADP
cblr-12479	72	41	appraisal	appraisal	NOUN
cblr-12479	72	42	rights	right	NOUN
cblr-12479	72	43	.	.	PUNCT
cblr-12479	73	1	the	the	DET
cblr-12479	73	2	paper	paper	NOUN
cblr-12479	73	3	’s	’s	PART
cblr-12479	73	4	analyses	analysis	NOUN
cblr-12479	73	5	and	and	CCONJ
cblr-12479	73	6	comparative	comparative	ADJ
cblr-12479	73	7	evidence	evidence	NOUN
cblr-12479	73	8	also	also	ADV
cblr-12479	73	9	have	have	VERB
cblr-12479	73	10	implications	implication	NOUN
cblr-12479	73	11	for	for	ADP
cblr-12479	73	12	financial	financial	ADJ
cblr-12479	73	13	contracting	contracting	NOUN
cblr-12479	73	14	,	,	PUNCT
cblr-12479	73	15	offering	offer	VERB
cblr-12479	73	16	an	an	DET
cblr-12479	73	17	alternative	alternative	ADJ
cblr-12479	73	18	explanation	explanation	NOUN
cblr-12479	73	19	to	to	ADP
cblr-12479	73	20	why	why	SCONJ
cblr-12479	73	21	the	the	DET
cblr-12479	73	22	capital	capital	NOUN
cblr-12479	73	23	structures	structure	NOUN
cblr-12479	73	24	and	and	CCONJ
cblr-12479	73	25	securities	security	NOUN
cblr-12479	73	26	used	use	VERB
cblr-12479	73	27	by	by	ADP
cblr-12479	73	28	vc	vc	PROPN
cblr-12479	73	29	-	-	PUNCT
cblr-12479	73	30	backed	back	VERB
cblr-12479	73	31	firms	firm	NOUN
cblr-12479	73	32	vary	vary	VERB
cblr-12479	73	33	across	across	ADP
cblr-12479	73	34	countries	country	NOUN
cblr-12479	73	35	.	.	PUNCT
cblr-12479	74	1	thus	thus	ADV
cblr-12479	74	2	far	far	ADV
cblr-12479	74	3	,	,	PUNCT
cblr-12479	74	4	the	the	DET
cblr-12479	74	5	literature	literature	NOUN
cblr-12479	74	6	has	have	AUX
cblr-12479	74	7	attributed	attribute	VERB
cblr-12479	74	8	such	such	ADJ
cblr-12479	74	9	differences	difference	NOUN
cblr-12479	74	10	to	to	ADP
cblr-12479	74	11	economic	economic	ADJ
cblr-12479	74	12	factors	factor	NOUN
cblr-12479	74	13	,	,	PUNCT
cblr-12479	74	14	such	such	ADJ
cblr-12479	74	15	as	as	ADP
cblr-12479	74	16	stock	stock	NOUN
cblr-12479	74	17	market	market	NOUN
cblr-12479	74	18	conditions	condition	NOUN
cblr-12479	74	19	or	or	CCONJ
cblr-12479	74	20	the	the	DET
cblr-12479	74	21	sophistication	sophistication	NOUN
cblr-12479	74	22	of	of	ADP
cblr-12479	74	23	vcs,23	vcs,23	NOUN
cblr-12479	74	24	or	or	CCONJ
cblr-12479	74	25	even	even	ADV
cblr-12479	74	26	specific	specific	ADJ
cblr-12479	74	27	tax	tax	NOUN
cblr-12479	74	28	rules	rule	NOUN
cblr-12479	74	29	and	and	CCONJ
cblr-12479	74	30	practices.24	practices.24	NOUN
cblr-12479	74	31	international	international	ADJ
cblr-12479	74	32	studies	study	NOUN
cblr-12479	74	33	that	that	PRON
cblr-12479	74	34	consider	consider	VERB
cblr-12479	74	35	institutional	institutional	ADJ
cblr-12479	74	36	and	and	CCONJ
cblr-12479	74	37	legal	legal	ADJ
cblr-12479	74	38	determinants	determinant	NOUN
cblr-12479	74	39	more	more	ADV
cblr-12479	74	40	widely	widely	ADV
cblr-12479	74	41	rely	rely	VERB
cblr-12479	74	42	on	on	ADP
cblr-12479	74	43	indexes	index	NOUN
cblr-12479	74	44	that	that	PRON
cblr-12479	74	45	capture	capture	VERB
cblr-12479	74	46	rules	rule	VERB
cblr-12479	74	47	applicable	applicable	ADJ
cblr-12479	74	48	to	to	ADP
cblr-12479	74	49	listed	list	VERB
cblr-12479	74	50	firms	firm	NOUN
cblr-12479	74	51	(	(	PUNCT
cblr-12479	74	52	e.g.	e.g.	ADV
cblr-12479	74	53	,	,	PUNCT
cblr-12479	74	54	investor	investor	NOUN
cblr-12479	74	55	protection	protection	NOUN
cblr-12479	74	56	)	)	PUNCT
cblr-12479	74	57	,	,	PUNCT
cblr-12479	74	58	that	that	PRON
cblr-12479	74	59	regulate	regulate	VERB
cblr-12479	74	60	aspects	aspect	NOUN
cblr-12479	74	61	of	of	ADP
cblr-12479	74	62	private	private	ADJ
cblr-12479	74	63	firms	firm	NOUN
cblr-12479	74	64	that	that	PRON
cblr-12479	74	65	are	be	AUX
cblr-12479	74	66	irrelevant	irrelevant	ADJ
cblr-12479	74	67	to	to	PART
cblr-12479	74	68	contingent	contingent	VERB
cblr-12479	74	69	control	control	NOUN
cblr-12479	74	70	(	(	PUNCT
cblr-12479	74	71	e.g.	e.g.	ADV
cblr-12479	74	72	,	,	PUNCT
cblr-12479	74	73	registration	registration	NOUN
cblr-12479	74	74	requirements	requirement	NOUN
cblr-12479	74	75	)	)	PUNCT
cblr-12479	74	76	,	,	PUNCT
cblr-12479	74	77	or	or	CCONJ
cblr-12479	74	78	that	that	PRON
cblr-12479	74	79	are	be	AUX
cblr-12479	74	80	based	base	VERB
cblr-12479	74	81	on	on	ADP
cblr-12479	74	82	legal	legal	ADJ
cblr-12479	74	83	systems	system	NOUN
cblr-12479	74	84	’	'	PUNCT
cblr-12479	74	85	perceived	perceive	VERB
cblr-12479	74	86	quality	quality	NOUN
cblr-12479	74	87	prior	prior	ADV
cblr-12479	74	88	to	to	ADP
cblr-12479	74	89	the	the	DET
cblr-12479	74	90	proliferation	proliferation	NOUN
cblr-12479	74	91	of	of	ADP
cblr-12479	74	92	vc	vc	NOUN
cblr-12479	74	93	-	-	PUNCT
cblr-12479	74	94	oriented	orient	VERB
cblr-12479	74	95	reforms	reform	NOUN
cblr-12479	74	96	(	(	PUNCT
cblr-12479	74	97	e.g.	e.g.	ADV
cblr-12479	74	98	,	,	PUNCT
cblr-12479	74	99	legality).25	legality).25	VERB
cblr-12479	74	100	the	the	DET
cblr-12479	74	101	evidence	evidence	NOUN
cblr-12479	74	102	reported	report	VERB
cblr-12479	74	103	and	and	CCONJ
cblr-12479	74	104	discussed	discuss	VERB
cblr-12479	74	105	in	in	ADP
cblr-12479	74	106	this	this	DET
cblr-12479	74	107	paper	paper	NOUN
cblr-12479	74	108	shows	show	VERB
cblr-12479	74	109	that	that	SCONJ
cblr-12479	74	110	corporate	corporate	ADJ
cblr-12479	74	111	law	law	NOUN
cblr-12479	74	112	constraints	constraint	NOUN
cblr-12479	74	113	to	to	ADP
cblr-12479	74	114	security	security	NOUN
cblr-12479	74	115	design	design	NOUN
cblr-12479	74	116	in	in	ADP
cblr-12479	74	117	vc	vc	NOUN
cblr-12479	74	118	-	-	PUNCT
cblr-12479	74	119	backed	back	VERB
cblr-12479	74	120	firms	firm	NOUN
cblr-12479	74	121	contribute	contribute	VERB
cblr-12479	74	122	to	to	ADP
cblr-12479	74	123	explaining	explain	VERB
cblr-12479	74	124	the	the	DET
cblr-12479	74	125	variations	variation	NOUN
cblr-12479	74	126	on	on	ADP
cblr-12479	74	127	securities	security	NOUN
cblr-12479	74	128	and	and	CCONJ
cblr-12479	74	129	capital	capital	NOUN
cblr-12479	74	130	structures	structure	NOUN
cblr-12479	74	131	observed	observe	VERB
cblr-12479	74	132	across	across	ADP
cblr-12479	74	133	countries	country	NOUN
cblr-12479	74	134	,	,	PUNCT
cblr-12479	74	135	an	an	DET
cblr-12479	74	136	aspect	aspect	NOUN
cblr-12479	74	137	generally	generally	ADV
cblr-12479	74	138	unaccounted	unaccounte	VERB
cblr-12479	74	139	by	by	ADP
cblr-12479	74	140	this	this	DET
cblr-12479	74	141	influential	influential	ADJ
cblr-12479	74	142	literature	literature	NOUN
cblr-12479	74	143	.	.	PUNCT
cblr-12479	75	1	23	23	NUM
cblr-12479	76	1	douglas	douglas	PROPN
cblr-12479	76	2	cumming	cumming	PROPN
cblr-12479	76	3	&	&	CCONJ
cblr-12479	76	4	sofia	sofia	PROPN
cblr-12479	76	5	a.	a.	PROPN
cblr-12479	76	6	johan	johan	PROPN
cblr-12479	76	7	,	,	PUNCT
cblr-12479	76	8	security	security	NOUN
cblr-12479	76	9	design	design	NOUN
cblr-12479	76	10	,	,	PUNCT
cblr-12479	76	11	in	in	ADP
cblr-12479	76	12	venture	venture	NOUN
cblr-12479	76	13	capital	capital	NOUN
cblr-12479	76	14	and	and	CCONJ
cblr-12479	76	15	private	private	ADJ
cblr-12479	76	16	equity	equity	NOUN
cblr-12479	76	17	contracting	contracting	NOUN
cblr-12479	76	18	:	:	PUNCT
cblr-12479	76	19	an	an	DET
cblr-12479	76	20	international	international	ADJ
cblr-12479	76	21	perspective	perspective	NOUN
cblr-12479	76	22	319	319	NUM
cblr-12479	76	23	(	(	PUNCT
cblr-12479	76	24	2nd	2nd	ADJ
cblr-12479	76	25	ed	ed	NOUN
cblr-12479	76	26	.	.	PROPN
cblr-12479	76	27	2014	2014	NUM
cblr-12479	76	28	)	)	PUNCT
cblr-12479	76	29	.	.	PUNCT
cblr-12479	77	1	24	24	NUM
cblr-12479	77	2	ronald	ronald	PROPN
cblr-12479	77	3	j.	j.	PROPN
cblr-12479	77	4	gilson	gilson	PROPN
cblr-12479	77	5	&	&	CCONJ
cblr-12479	77	6	david	david	PROPN
cblr-12479	77	7	m.	m.	PROPN
cblr-12479	77	8	schizer	schizer	PROPN
cblr-12479	77	9	,	,	PUNCT
cblr-12479	77	10	understanding	understand	VERB
cblr-12479	77	11	venture	venture	NOUN
cblr-12479	77	12	capital	capital	NOUN
cblr-12479	77	13	structure	structure	NOUN
cblr-12479	77	14	:	:	PUNCT
cblr-12479	77	15	a	a	DET
cblr-12479	77	16	tax	tax	NOUN
cblr-12479	77	17	explanation	explanation	NOUN
cblr-12479	77	18	for	for	ADP
cblr-12479	77	19	convertible	convertible	ADJ
cblr-12479	77	20	preferred	preferred	ADJ
cblr-12479	77	21	stock	stock	NOUN
cblr-12479	77	22	,	,	PUNCT
cblr-12479	77	23	116	116	NUM
cblr-12479	77	24	harv	harv	NOUN
cblr-12479	77	25	.	.	PUNCT
cblr-12479	78	1	l.	l.	PROPN
cblr-12479	78	2	rev	rev	PROPN
cblr-12479	78	3	.	.	PROPN
cblr-12479	78	4	874	874	NUM
cblr-12479	78	5	(	(	PUNCT
cblr-12479	78	6	2003	2003	NUM
cblr-12479	78	7	)	)	PUNCT
cblr-12479	78	8	.	.	PUNCT
cblr-12479	79	1	25	25	NUM
cblr-12479	79	2	see	see	VERB
cblr-12479	79	3	,	,	PUNCT
cblr-12479	79	4	e.g.	e.g.	ADV
cblr-12479	79	5	,	,	PUNCT
cblr-12479	79	6	douglas	douglas	PROPN
cblr-12479	79	7	cumming	cumming	PROPN
cblr-12479	79	8	,	,	PUNCT
cblr-12479	79	9	daniel	daniel	PROPN
cblr-12479	79	10	schmidt	schmidt	PROPN
cblr-12479	79	11	&	&	CCONJ
cblr-12479	79	12	uwe	uwe	PROPN
cblr-12479	79	13	walz	walz	PROPN
cblr-12479	79	14	,	,	PUNCT
cblr-12479	79	15	legality	legality	NOUN
cblr-12479	79	16	and	and	CCONJ
cblr-12479	79	17	venture	venture	NOUN
cblr-12479	79	18	capital	capital	NOUN
cblr-12479	79	19	governance	governance	NOUN
cblr-12479	79	20	around	around	ADP
cblr-12479	79	21	the	the	DET
cblr-12479	79	22	world	world	NOUN
cblr-12479	79	23	,	,	PUNCT
cblr-12479	79	24	25	25	NUM
cblr-12479	79	25	j.	j.	PROPN
cblr-12479	79	26	bus	bus	PROPN
cblr-12479	79	27	.	.	PUNCT
cblr-12479	80	1	venturing	venture	VERB
cblr-12479	80	2	54	54	NUM
cblr-12479	80	3	(	(	PUNCT
cblr-12479	80	4	2010	2010	NUM
cblr-12479	80	5	)	)	PUNCT
cblr-12479	80	6	;	;	PUNCT
cblr-12479	80	7	steven	steven	PROPN
cblr-12479	80	8	n.	n.	PROPN
cblr-12479	80	9	kaplan	kaplan	PROPN
cblr-12479	80	10	,	,	PUNCT
cblr-12479	80	11	frederic	frederic	PROPN
cblr-12479	80	12	martel	martel	PROPN
cblr-12479	80	13	&	&	CCONJ
cblr-12479	80	14	per	per	ADP
cblr-12479	80	15	strömberg	strömberg	NOUN
cblr-12479	80	16	,	,	PUNCT
cblr-12479	80	17	how	how	SCONJ
cblr-12479	80	18	do	do	AUX
cblr-12479	80	19	legal	legal	ADJ
cblr-12479	80	20	differences	difference	NOUN
cblr-12479	80	21	and	and	CCONJ
cblr-12479	80	22	experience	experience	NOUN
cblr-12479	80	23	affect	affect	VERB
cblr-12479	80	24	financial	financial	ADJ
cblr-12479	80	25	contracts	contract	NOUN
cblr-12479	80	26	?	?	PUNCT
cblr-12479	80	27	,	,	PUNCT
cblr-12479	80	28	16	16	NUM
cblr-12479	80	29	j.	j.	PROPN
cblr-12479	80	30	fin	fin	PROPN
cblr-12479	80	31	.	.	PUNCT
cblr-12479	80	32	intermediation	intermediation	NOUN
cblr-12479	80	33	273	273	NUM
cblr-12479	80	34	(	(	PUNCT
cblr-12479	80	35	2007	2007	NUM
cblr-12479	80	36	)	)	PUNCT
cblr-12479	80	37	;	;	PUNCT
cblr-12479	80	38	see	see	VERB
cblr-12479	80	39	also	also	ADV
cblr-12479	80	40	josh	josh	PROPN
cblr-12479	80	41	lerner	lerner	PROPN
cblr-12479	80	42	&	&	CCONJ
cblr-12479	80	43	antoinette	antoinette	PROPN
cblr-12479	80	44	schoar	schoar	PROPN
cblr-12479	80	45	,	,	PUNCT
cblr-12479	80	46	does	do	AUX
cblr-12479	80	47	legal	legal	ADJ
cblr-12479	80	48	enforcement	enforcement	NOUN
cblr-12479	80	49	affect	affect	VERB
cblr-12479	80	50	financial	financial	ADJ
cblr-12479	80	51	transactions	transaction	NOUN
cblr-12479	80	52	?	?	PUNCT
cblr-12479	81	1	the	the	DET
cblr-12479	81	2	contractual	contractual	ADJ
cblr-12479	81	3	channel	channel	NOUN
cblr-12479	81	4	in	in	ADP
cblr-12479	81	5	private	private	ADJ
cblr-12479	81	6	equity	equity	NOUN
cblr-12479	81	7	,	,	PUNCT
cblr-12479	81	8	120	120	NUM
cblr-12479	81	9	q.	q.	PROPN
cblr-12479	81	10	j.	j.	PROPN
cblr-12479	81	11	econ	econ	PROPN
cblr-12479	81	12	.	.	PROPN
cblr-12479	81	13	24	24	NUM
cblr-12479	81	14	(	(	PUNCT
cblr-12479	81	15	2005	2005	NUM
cblr-12479	81	16	)	)	PUNCT
cblr-12479	81	17	(	(	PUNCT
cblr-12479	81	18	using	use	VERB
cblr-12479	81	19	an	an	DET
cblr-12479	81	20	index	index	NOUN
cblr-12479	81	21	measuring	measure	VERB
cblr-12479	81	22	“	"	PUNCT
cblr-12479	81	23	time	time	NOUN
cblr-12479	81	24	to	to	PART
cblr-12479	81	25	enforce	enforce	VERB
cblr-12479	81	26	a	a	DET
cblr-12479	81	27	contract	contract	NOUN
cblr-12479	81	28	”	"	PUNCT
cblr-12479	81	29	as	as	ADP
cblr-12479	81	30	a	a	DET
cblr-12479	81	31	proxy	proxy	NOUN
cblr-12479	81	32	for	for	ADP
cblr-12479	81	33	legal	legal	ADJ
cblr-12479	81	34	systems	system	NOUN
cblr-12479	81	35	’	'	PUNCT
cblr-12479	81	36	quality	quality	NOUN
cblr-12479	81	37	but	but	CCONJ
cblr-12479	81	38	overlooking	overlook	VERB
cblr-12479	81	39	crucial	crucial	ADJ
cblr-12479	81	40	differences	difference	NOUN
cblr-12479	81	41	between	between	ADP
cblr-12479	81	42	financial	financial	ADJ
cblr-12479	81	43	contracts	contract	NOUN
cblr-12479	81	44	and	and	CCONJ
cblr-12479	81	45	those	those	PRON
cblr-12479	81	46	captured	capture	VERB
cblr-12479	81	47	by	by	ADP
cblr-12479	81	48	the	the	DET
cblr-12479	81	49	index	index	NOUN
cblr-12479	81	50	,	,	PUNCT
cblr-12479	81	51	e.g.	e.g.	ADV
cblr-12479	81	52	,	,	PUNCT
cblr-12479	81	53	liquidated	liquidate	VERB
cblr-12479	81	54	damages	damage	NOUN
cblr-12479	81	55	)	)	PUNCT
cblr-12479	81	56	.	.	PUNCT
cblr-12479	82	1	no	no	INTJ
cblr-12479	82	2	.	.	NOUN
cblr-12479	83	1	2	2	NUM
cblr-12479	83	2	]	]	PUNCT
cblr-12479	83	3	the	the	DET
cblr-12479	83	4	law	law	NOUN
cblr-12479	83	5	of	of	ADP
cblr-12479	83	6	contingent	contingent	NOUN
cblr-12479	83	7	control	control	NOUN
cblr-12479	83	8	683	683	NUM
cblr-12479	83	9	the	the	DET
cblr-12479	83	10	paper	paper	NOUN
cblr-12479	83	11	unfolds	unfold	VERB
cblr-12479	83	12	in	in	ADP
cblr-12479	83	13	six	six	NUM
cblr-12479	83	14	parts	part	NOUN
cblr-12479	83	15	.	.	PUNCT
cblr-12479	84	1	part	part	PROPN
cblr-12479	84	2	ii	ii	PROPN
cblr-12479	84	3	explains	explain	VERB
cblr-12479	84	4	how	how	SCONJ
cblr-12479	84	5	contingent	contingent	ADJ
cblr-12479	84	6	control	control	NOUN
cblr-12479	84	7	enables	enable	VERB
cblr-12479	84	8	vcs	vcs	PROPN
cblr-12479	84	9	to	to	PART
cblr-12479	84	10	finance	finance	VERB
cblr-12479	84	11	innovative	innovative	ADJ
cblr-12479	84	12	startups	startup	NOUN
cblr-12479	84	13	.	.	PUNCT
cblr-12479	85	1	part	part	NOUN
cblr-12479	85	2	iii	iii	X
cblr-12479	85	3	shows	show	VERB
cblr-12479	85	4	that	that	SCONJ
cblr-12479	85	5	differences	difference	NOUN
cblr-12479	85	6	in	in	ADP
cblr-12479	85	7	the	the	DET
cblr-12479	85	8	legal	legal	ADJ
cblr-12479	85	9	rules	rule	NOUN
cblr-12479	85	10	governing	govern	VERB
cblr-12479	85	11	control	control	NOUN
cblr-12479	85	12	(	(	PUNCT
cblr-12479	85	13	i.e.	i.e.	X
cblr-12479	85	14	,	,	PUNCT
cblr-12479	85	15	voting	voting	NOUN
cblr-12479	85	16	and	and	CCONJ
cblr-12479	85	17	board	board	NOUN
cblr-12479	85	18	representation	representation	NOUN
cblr-12479	85	19	rights	right	NOUN
cblr-12479	85	20	of	of	ADP
cblr-12479	85	21	various	various	ADJ
cblr-12479	85	22	classes	class	NOUN
cblr-12479	85	23	of	of	ADP
cblr-12479	85	24	shares	share	NOUN
cblr-12479	85	25	)	)	PUNCT
cblr-12479	85	26	in	in	ADP
cblr-12479	85	27	non	non	ADJ
cblr-12479	85	28	-	-	ADJ
cblr-12479	85	29	listed	listed	ADJ
cblr-12479	85	30	firms	firm	NOUN
cblr-12479	85	31	across	across	ADP
cblr-12479	85	32	jurisdictions	jurisdiction	NOUN
cblr-12479	85	33	determine	determine	VERB
cblr-12479	85	34	the	the	DET
cblr-12479	85	35	range	range	NOUN
cblr-12479	85	36	of	of	ADP
cblr-12479	85	37	options	option	NOUN
cblr-12479	85	38	available	available	ADJ
cblr-12479	85	39	for	for	ADP
cblr-12479	85	40	vcs	vcs	PROPN
cblr-12479	85	41	and	and	CCONJ
cblr-12479	85	42	entrepreneurs	entrepreneur	NOUN
cblr-12479	85	43	to	to	PART
cblr-12479	85	44	allocate	allocate	VERB
cblr-12479	85	45	control	control	NOUN
cblr-12479	85	46	efficiently	efficiently	ADV
cblr-12479	85	47	via	via	ADP
cblr-12479	85	48	security	security	NOUN
cblr-12479	85	49	design	design	NOUN
cblr-12479	85	50	.	.	PUNCT
cblr-12479	86	1	part	part	NOUN
cblr-12479	86	2	iv	iv	NUM
cblr-12479	86	3	analyzes	analyze	VERB
cblr-12479	86	4	corporate	corporate	ADJ
cblr-12479	86	5	law	law	NOUN
cblr-12479	86	6	limits	limit	NOUN
cblr-12479	86	7	to	to	ADP
cblr-12479	86	8	structured	structured	ADJ
cblr-12479	86	9	contingent	contingent	NOUN
cblr-12479	86	10	control	control	NOUN
cblr-12479	86	11	through	through	ADP
cblr-12479	86	12	bespoke	bespoke	NOUN
cblr-12479	86	13	securities	security	NOUN
cblr-12479	86	14	and	and	CCONJ
cblr-12479	86	15	shareholders	shareholder	NOUN
cblr-12479	86	16	’	'	PUNCT
cblr-12479	86	17	agreements	agreement	NOUN
cblr-12479	86	18	.	.	PUNCT
cblr-12479	87	1	the	the	DET
cblr-12479	87	2	analysis	analysis	NOUN
cblr-12479	87	3	reveals	reveal	VERB
cblr-12479	87	4	that	that	SCONJ
cblr-12479	87	5	legal	legal	ADJ
cblr-12479	87	6	constraints	constraint	NOUN
cblr-12479	87	7	to	to	ADP
cblr-12479	87	8	security	security	NOUN
cblr-12479	87	9	design	design	NOUN
cblr-12479	87	10	,	,	PUNCT
cblr-12479	87	11	such	such	ADJ
cblr-12479	87	12	as	as	ADP
cblr-12479	87	13	limitations	limitation	NOUN
cblr-12479	87	14	to	to	PART
cblr-12479	87	15	issue	issue	VERB
cblr-12479	87	16	restricted	restrict	VERB
cblr-12479	87	17	and	and	CCONJ
cblr-12479	87	18	convertible	convertible	ADJ
cblr-12479	87	19	-	-	PUNCT
cblr-12479	87	20	preferred	prefer	VERB
cblr-12479	87	21	stock	stock	NOUN
cblr-12479	87	22	,	,	PUNCT
cblr-12479	87	23	incentivize	incentivize	VERB
cblr-12479	87	24	the	the	DET
cblr-12479	87	25	use	use	NOUN
cblr-12479	87	26	of	of	ADP
cblr-12479	87	27	shareholders	shareholder	NOUN
cblr-12479	87	28	’	'	PUNCT
cblr-12479	87	29	agreements	agreement	NOUN
cblr-12479	87	30	for	for	ADP
cblr-12479	87	31	control	control	NOUN
cblr-12479	87	32	allocation	allocation	NOUN
cblr-12479	87	33	.	.	PUNCT
cblr-12479	88	1	these	these	DET
cblr-12479	88	2	agreements	agreement	NOUN
cblr-12479	88	3	are	be	AUX
cblr-12479	88	4	suboptimal	suboptimal	ADJ
cblr-12479	88	5	alternatives	alternative	NOUN
cblr-12479	88	6	,	,	PUNCT
cblr-12479	88	7	as	as	SCONJ
cblr-12479	88	8	some	some	DET
cblr-12479	88	9	provisions	provision	NOUN
cblr-12479	88	10	may	may	AUX
cblr-12479	88	11	not	not	PART
cblr-12479	88	12	be	be	AUX
cblr-12479	88	13	enforceable	enforceable	ADJ
cblr-12479	88	14	,	,	PUNCT
cblr-12479	88	15	and	and	CCONJ
cblr-12479	88	16	their	their	PRON
cblr-12479	88	17	breach	breach	NOUN
cblr-12479	88	18	generally	generally	ADV
cblr-12479	88	19	gives	give	VERB
cblr-12479	88	20	rights	right	NOUN
cblr-12479	88	21	to	to	ADP
cblr-12479	88	22	contractual	contractual	ADJ
cblr-12479	88	23	remedies	remedy	NOUN
cblr-12479	88	24	.	.	PUNCT
cblr-12479	89	1	part	part	NOUN
cblr-12479	89	2	v	v	NOUN
cblr-12479	89	3	shows	show	VERB
cblr-12479	89	4	that	that	SCONJ
cblr-12479	89	5	widespread	widespread	ADJ
cblr-12479	89	6	uses	use	NOUN
cblr-12479	89	7	of	of	ADP
cblr-12479	89	8	shareholders	shareholder	NOUN
cblr-12479	89	9	’	'	PUNCT
cblr-12479	89	10	agreements	agreement	NOUN
cblr-12479	89	11	in	in	ADP
cblr-12479	89	12	vc	vc	NOUN
cblr-12479	89	13	-	-	PUNCT
cblr-12479	89	14	backed	back	VERB
cblr-12479	89	15	startups	startup	NOUN
cblr-12479	89	16	also	also	ADV
cblr-12479	89	17	have	have	VERB
cblr-12479	89	18	damaging	damage	VERB
cblr-12479	89	19	collateral	collateral	ADJ
cblr-12479	89	20	effects	effect	NOUN
cblr-12479	89	21	that	that	PRON
cblr-12479	89	22	threaten	threaten	VERB
cblr-12479	89	23	the	the	DET
cblr-12479	89	24	industry	industry	NOUN
cblr-12479	89	25	’s	’s	PART
cblr-12479	89	26	own	own	ADJ
cblr-12479	89	27	endurance	endurance	NOUN
cblr-12479	89	28	,	,	PUNCT
cblr-12479	89	29	weakening	weaken	VERB
cblr-12479	89	30	corporate	corporate	ADJ
cblr-12479	89	31	law	law	NOUN
cblr-12479	89	32	safeguards	safeguard	NOUN
cblr-12479	89	33	against	against	ADP
cblr-12479	89	34	agency	agency	NOUN
cblr-12479	89	35	problems	problem	NOUN
cblr-12479	89	36	and	and	CCONJ
cblr-12479	89	37	hindering	hinder	VERB
cblr-12479	89	38	transaction	transaction	NOUN
cblr-12479	89	39	costs	cost	VERB
cblr-12479	89	40	reductions	reduction	NOUN
cblr-12479	89	41	.	.	PUNCT
cblr-12479	90	1	part	part	NOUN
cblr-12479	90	2	vi	vi	PROPN
cblr-12479	90	3	presents	present	VERB
cblr-12479	90	4	the	the	DET
cblr-12479	90	5	main	main	ADJ
cblr-12479	90	6	implications	implication	NOUN
cblr-12479	90	7	of	of	ADP
cblr-12479	90	8	these	these	DET
cblr-12479	90	9	analyses	analysis	NOUN
cblr-12479	90	10	for	for	ADP
cblr-12479	90	11	financial	financial	ADJ
cblr-12479	90	12	contracting	contracting	NOUN
cblr-12479	90	13	and	and	CCONJ
cblr-12479	90	14	corporate	corporate	ADJ
cblr-12479	90	15	law	law	NOUN
cblr-12479	90	16	,	,	PUNCT
cblr-12479	90	17	highlighting	highlight	VERB
cblr-12479	90	18	shortcomings	shortcoming	NOUN
cblr-12479	90	19	in	in	ADP
cblr-12479	90	20	theoretical	theoretical	ADJ
cblr-12479	90	21	and	and	CCONJ
cblr-12479	90	22	empirical	empirical	ADJ
cblr-12479	90	23	studies	study	NOUN
cblr-12479	90	24	of	of	ADP
cblr-12479	90	25	venture	venture	NOUN
cblr-12479	90	26	finance	finance	NOUN
cblr-12479	90	27	,	,	PUNCT
cblr-12479	90	28	and	and	CCONJ
cblr-12479	90	29	advocating	advocate	VERB
cblr-12479	90	30	for	for	ADP
cblr-12479	90	31	disincentives	disincentive	NOUN
cblr-12479	90	32	to	to	ADP
cblr-12479	90	33	the	the	DET
cblr-12479	90	34	trend	trend	NOUN
cblr-12479	90	35	of	of	ADP
cblr-12479	90	36	structuring	structure	VERB
cblr-12479	90	37	“	"	PUNCT
cblr-12479	90	38	governance	governance	NOUN
cblr-12479	90	39	through	through	ADP
cblr-12479	90	40	contract	contract	NOUN
cblr-12479	90	41	”	"	PUNCT
cblr-12479	90	42	in	in	ADP
cblr-12479	90	43	vc	vc	PROPN
cblr-12479	90	44	-	-	PUNCT
cblr-12479	90	45	backed	back	VERB
cblr-12479	90	46	firms	firm	NOUN
cblr-12479	90	47	,	,	PUNCT
cblr-12479	90	48	respectively	respectively	ADV
cblr-12479	90	49	.	.	PUNCT
cblr-12479	91	1	the	the	DET
cblr-12479	91	2	last	last	ADJ
cblr-12479	91	3	part	part	NOUN
cblr-12479	91	4	concludes	conclude	VERB
cblr-12479	91	5	.	.	PUNCT
cblr-12479	92	1	ii	ii	X
cblr-12479	92	2	.	.	PUNCT
cblr-12479	93	1	the	the	DET
cblr-12479	93	2	essential	essential	ADJ
cblr-12479	93	3	role	role	NOUN
cblr-12479	93	4	of	of	ADP
cblr-12479	93	5	contingent	contingent	ADJ
cblr-12479	93	6	control	control	NOUN
cblr-12479	93	7	in	in	ADP
cblr-12479	93	8	venture	venture	NOUN
cblr-12479	93	9	capital	capital	NOUN
cblr-12479	93	10	investments	investment	NOUN
cblr-12479	93	11	the	the	DET
cblr-12479	93	12	financing	financing	NOUN
cblr-12479	93	13	of	of	ADP
cblr-12479	93	14	young	young	ADJ
cblr-12479	93	15	and	and	CCONJ
cblr-12479	93	16	innovative	innovative	ADJ
cblr-12479	93	17	startup	startup	NOUN
cblr-12479	93	18	companies	company	NOUN
cblr-12479	93	19	poses	pose	VERB
cblr-12479	93	20	unique	unique	ADJ
cblr-12479	93	21	challenges.26	challenges.26	NOUN
cblr-12479	93	22	these	these	DET
cblr-12479	93	23	firms	firm	NOUN
cblr-12479	93	24	generally	generally	ADV
cblr-12479	93	25	lack	lack	VERB
cblr-12479	93	26	the	the	DET
cblr-12479	93	27	assets	asset	NOUN
cblr-12479	93	28	or	or	CCONJ
cblr-12479	93	29	revenue	revenue	NOUN
cblr-12479	93	30	required	require	VERB
cblr-12479	93	31	for	for	ADP
cblr-12479	93	32	traditional	traditional	ADJ
cblr-12479	93	33	debt	debt	NOUN
cblr-12479	93	34	finance.27	finance.27	PROPN
cblr-12479	93	35	the	the	DET
cblr-12479	93	36	26	26	NUM
cblr-12479	93	37	see	see	VERB
cblr-12479	93	38	generally	generally	ADV
cblr-12479	93	39	hall	hall	PROPN
cblr-12479	93	40	&	&	CCONJ
cblr-12479	93	41	lerner	lerner	PROPN
cblr-12479	93	42	,	,	PUNCT
cblr-12479	93	43	supra	supra	PROPN
cblr-12479	93	44	note	note	NOUN
cblr-12479	93	45	5	5	NUM
cblr-12479	93	46	.	.	SYM
cblr-12479	93	47	27	27	NUM
cblr-12479	93	48	marco	marco	PROPN
cblr-12479	93	49	da	da	PROPN
cblr-12479	93	50	rin	rin	PROPN
cblr-12479	93	51	&	&	CCONJ
cblr-12479	93	52	thomas	thomas	PROPN
cblr-12479	93	53	hellmann	hellmann	PROPN
cblr-12479	93	54	,	,	PUNCT
cblr-12479	93	55	fundamentals	fundamental	NOUN
cblr-12479	93	56	of	of	ADP
cblr-12479	93	57	entrepreneurial	entrepreneurial	ADJ
cblr-12479	93	58	finance	finance	NOUN
cblr-12479	93	59	1–10	1–10	NOUN
cblr-12479	93	60	(	(	PUNCT
cblr-12479	93	61	2020	2020	NUM
cblr-12479	93	62	)	)	PUNCT
cblr-12479	93	63	;	;	PUNCT
cblr-12479	93	64	allen	allen	PROPN
cblr-12479	93	65	n.	n.	PROPN
cblr-12479	93	66	berger	berger	PROPN
cblr-12479	93	67	&	&	CCONJ
cblr-12479	93	68	gregory	gregory	PROPN
cblr-12479	93	69	f.	f.	PROPN
cblr-12479	93	70	udell	udell	PROPN
cblr-12479	93	71	,	,	PUNCT
cblr-12479	93	72	the	the	DET
cblr-12479	93	73	economics	economic	NOUN
cblr-12479	93	74	of	of	ADP
cblr-12479	93	75	small	small	ADJ
cblr-12479	93	76	business	business	NOUN
cblr-12479	93	77	finance	finance	NOUN
cblr-12479	93	78	:	:	PUNCT
cblr-12479	93	79	the	the	DET
cblr-12479	93	80	roles	role	NOUN
cblr-12479	93	81	of	of	ADP
cblr-12479	93	82	private	private	ADJ
cblr-12479	93	83	equity	equity	NOUN
cblr-12479	93	84	and	and	CCONJ
cblr-12479	93	85	debt	debt	NOUN
cblr-12479	93	86	markets	market	NOUN
cblr-12479	93	87	in	in	ADP
cblr-12479	93	88	the	the	DET
cblr-12479	93	89	financial	financial	ADJ
cblr-12479	93	90	growth	growth	NOUN
cblr-12479	93	91	cycle	cycle	NOUN
cblr-12479	93	92	,	,	PUNCT
cblr-12479	93	93	22	22	NUM
cblr-12479	93	94	j.	j.	PROPN
cblr-12479	93	95	banking	banking	PROPN
cblr-12479	93	96	&	&	CCONJ
cblr-12479	93	97	fin	fin	PROPN
cblr-12479	93	98	.	.	PUNCT
cblr-12479	94	1	613	613	NUM
cblr-12479	94	2	(	(	PUNCT
cblr-12479	94	3	1998	1998	NUM
cblr-12479	94	4	)	)	PUNCT
cblr-12479	94	5	.	.	PUNCT
cblr-12479	95	1	684	684	NUM
cblr-12479	95	2	columbia	columbia	PROPN
cblr-12479	95	3	business	business	NOUN
cblr-12479	95	4	law	law	PROPN
cblr-12479	95	5	review	review	NOUN
cblr-12479	95	6	[	[	X
cblr-12479	95	7	vol	vol	NOUN
cblr-12479	95	8	.	.	PUNCT
cblr-12479	95	9	2023	2023	NUM
cblr-12479	95	10	risks	risk	NOUN
cblr-12479	95	11	are	be	AUX
cblr-12479	95	12	also	also	ADV
cblr-12479	95	13	excessively	excessively	ADV
cblr-12479	95	14	high	high	ADJ
cblr-12479	95	15	for	for	ADP
cblr-12479	95	16	plain	plain	ADJ
cblr-12479	95	17	vanilla	vanilla	NOUN
cblr-12479	95	18	equity	equity	NOUN
cblr-12479	95	19	finance.28	finance.28	PROPN
cblr-12479	95	20	given	give	VERB
cblr-12479	95	21	that	that	SCONJ
cblr-12479	95	22	startup	startup	NOUN
cblr-12479	95	23	companies	company	NOUN
cblr-12479	95	24	are	be	AUX
cblr-12479	95	25	private	private	ADJ
cblr-12479	95	26	(	(	PUNCT
cblr-12479	95	27	and	and	CCONJ
cblr-12479	95	28	that	that	SCONJ
cblr-12479	95	29	much	much	ADJ
cblr-12479	95	30	of	of	ADP
cblr-12479	95	31	the	the	DET
cblr-12479	95	32	potential	potential	ADJ
cblr-12479	95	33	value	value	NOUN
cblr-12479	95	34	increase	increase	NOUN
cblr-12479	95	35	comes	come	VERB
cblr-12479	95	36	from	from	ADP
cblr-12479	95	37	keeping	keep	VERB
cblr-12479	95	38	information	information	NOUN
cblr-12479	95	39	secret),29	secret),29	NOUN
cblr-12479	95	40	there	there	PRON
cblr-12479	95	41	is	be	VERB
cblr-12479	95	42	no	no	DET
cblr-12479	95	43	liquid	liquid	ADJ
cblr-12479	95	44	market	market	NOUN
cblr-12479	95	45	for	for	ADP
cblr-12479	95	46	shares	share	NOUN
cblr-12479	95	47	,	,	PUNCT
cblr-12479	95	48	which	which	PRON
cblr-12479	95	49	significantly	significantly	ADV
cblr-12479	95	50	restricts	restrict	VERB
cblr-12479	95	51	diversification	diversification	NOUN
cblr-12479	95	52	and	and	CCONJ
cblr-12479	95	53	exit	exit	NOUN
cblr-12479	95	54	opportunities	opportunity	NOUN
cblr-12479	95	55	for	for	ADP
cblr-12479	95	56	investors	investor	NOUN
cblr-12479	95	57	.	.	PUNCT
cblr-12479	96	1	there	there	PRON
cblr-12479	96	2	is	be	VERB
cblr-12479	96	3	also	also	ADV
cblr-12479	96	4	substantial	substantial	ADJ
cblr-12479	96	5	uncertainty	uncertainty	NOUN
cblr-12479	96	6	over	over	ADP
cblr-12479	96	7	returns	return	NOUN
cblr-12479	96	8	because	because	SCONJ
cblr-12479	96	9	products	product	NOUN
cblr-12479	96	10	and	and	CCONJ
cblr-12479	96	11	business	business	NOUN
cblr-12479	96	12	models	model	NOUN
cblr-12479	96	13	have	have	AUX
cblr-12479	96	14	not	not	PART
cblr-12479	96	15	been	be	AUX
cblr-12479	96	16	tested	test	VERB
cblr-12479	96	17	in	in	ADP
cblr-12479	96	18	the	the	DET
cblr-12479	96	19	market	market	NOUN
cblr-12479	96	20	,	,	PUNCT
cblr-12479	96	21	and	and	CCONJ
cblr-12479	96	22	founders	founder	NOUN
cblr-12479	96	23	often	often	ADV
cblr-12479	96	24	lack	lack	VERB
cblr-12479	96	25	management	management	NOUN
cblr-12479	96	26	experience.30	experience.30	PROPN
cblr-12479	96	27	business	business	NOUN
cblr-12479	96	28	ventures	venture	NOUN
cblr-12479	96	29	between	between	ADP
cblr-12479	96	30	entrepreneurs	entrepreneur	NOUN
cblr-12479	96	31	and	and	CCONJ
cblr-12479	96	32	investors	investor	NOUN
cblr-12479	96	33	emerged	emerge	VERB
cblr-12479	96	34	as	as	ADP
cblr-12479	96	35	a	a	DET
cblr-12479	96	36	plausible	plausible	ADJ
cblr-12479	96	37	solution	solution	NOUN
cblr-12479	96	38	to	to	ADP
cblr-12479	96	39	these	these	DET
cblr-12479	96	40	challenges.31	challenges.31	NOUN
cblr-12479	96	41	experienced	experience	VERB
cblr-12479	96	42	financiers	financier	NOUN
cblr-12479	96	43	with	with	ADP
cblr-12479	96	44	superior	superior	ADJ
cblr-12479	96	45	industry	industry	NOUN
cblr-12479	96	46	knowledge	knowledge	NOUN
cblr-12479	96	47	minimize	minimize	VERB
cblr-12479	96	48	uncertainties	uncertainty	NOUN
cblr-12479	96	49	by	by	ADP
cblr-12479	96	50	identifying	identify	VERB
cblr-12479	96	51	the	the	DET
cblr-12479	96	52	most	most	ADV
cblr-12479	96	53	promising	promising	ADJ
cblr-12479	96	54	entrepreneurial	entrepreneurial	ADJ
cblr-12479	96	55	companies	company	NOUN
cblr-12479	96	56	,	,	PUNCT
cblr-12479	96	57	acquiring	acquire	VERB
cblr-12479	96	58	shares	share	NOUN
cblr-12479	96	59	and	and	CCONJ
cblr-12479	96	60	actively	actively	ADV
cblr-12479	96	61	participating	participate	VERB
cblr-12479	96	62	in	in	ADP
cblr-12479	96	63	their	their	PRON
cblr-12479	96	64	governance.32	governance.32	NOUN
cblr-12479	96	65	the	the	DET
cblr-12479	96	66	success	success	NOUN
cblr-12479	96	67	of	of	ADP
cblr-12479	96	68	such	such	ADJ
cblr-12479	96	69	business	business	NOUN
cblr-12479	96	70	ventures	venture	NOUN
cblr-12479	96	71	,	,	PUNCT
cblr-12479	96	72	however	however	ADV
cblr-12479	96	73	,	,	PUNCT
cblr-12479	96	74	depends	depend	VERB
cblr-12479	96	75	on	on	ADP
cblr-12479	96	76	founders	founder	NOUN
cblr-12479	96	77	’	'	PUNCT
cblr-12479	96	78	and	and	CCONJ
cblr-12479	96	79	investors	investor	NOUN
cblr-12479	96	80	’	'	PUNCT
cblr-12479	96	81	continuous	continuous	ADJ
cblr-12479	96	82	efforts	effort	NOUN
cblr-12479	96	83	,	,	PUNCT
cblr-12479	96	84	a	a	DET
cblr-12479	96	85	particularly	particularly	ADV
cblr-12479	96	86	challenging	challenging	ADJ
cblr-12479	96	87	condition	condition	NOUN
cblr-12479	96	88	given	give	VERB
cblr-12479	96	89	that	that	SCONJ
cblr-12479	96	90	their	their	PRON
cblr-12479	96	91	interests	interest	NOUN
cblr-12479	96	92	are	be	AUX
cblr-12479	96	93	not	not	PART
cblr-12479	96	94	always	always	ADV
cblr-12479	96	95	aligned.33	aligned.33	VERB
cblr-12479	96	96	for	for	ADP
cblr-12479	96	97	example	example	NOUN
cblr-12479	96	98	,	,	PUNCT
cblr-12479	96	99	while	while	SCONJ
cblr-12479	96	100	investors	investor	NOUN
cblr-12479	96	101	are	be	AUX
cblr-12479	96	102	primarily	primarily	ADV
cblr-12479	96	103	motivated	motivate	VERB
cblr-12479	96	104	by	by	ADP
cblr-12479	96	105	returns	return	NOUN
cblr-12479	96	106	,	,	PUNCT
cblr-12479	96	107	entrepreneurs	entrepreneur	NOUN
cblr-12479	96	108	also	also	ADV
cblr-12479	96	109	regard	regard	VERB
cblr-12479	96	110	some	some	DET
cblr-12479	96	111	private	private	ADJ
cblr-12479	96	112	benefits	benefit	NOUN
cblr-12479	96	113	(	(	PUNCT
cblr-12479	96	114	e.g.	e.g.	ADV
cblr-12479	96	115	,	,	PUNCT
cblr-12479	96	116	personal	personal	ADJ
cblr-12479	96	117	satisfaction	satisfaction	NOUN
cblr-12479	96	118	,	,	PUNCT
cblr-12479	96	119	reputation	reputation	NOUN
cblr-12479	96	120	)	)	PUNCT
cblr-12479	96	121	as	as	ADV
cblr-12479	96	122	highly	highly	ADV
cblr-12479	96	123	valuable	valuable	ADJ
cblr-12479	96	124	,	,	PUNCT
cblr-12479	96	125	and	and	CCONJ
cblr-12479	96	126	the	the	DET
cblr-12479	96	127	ability	ability	NOUN
cblr-12479	96	128	to	to	PART
cblr-12479	96	129	pursue	pursue	VERB
cblr-12479	96	130	them	they	PRON
cblr-12479	96	131	might	might	AUX
cblr-12479	96	132	sometimes	sometimes	ADV
cblr-12479	96	133	be	be	AUX
cblr-12479	96	134	a	a	DET
cblr-12479	96	135	stronger	strong	ADJ
cblr-12479	96	136	28	28	NUM
cblr-12479	96	137	da	da	PROPN
cblr-12479	96	138	rin	rin	PROPN
cblr-12479	96	139	&	&	CCONJ
cblr-12479	96	140	hellmann	hellmann	PROPN
cblr-12479	96	141	,	,	PUNCT
cblr-12479	96	142	supra	supra	PROPN
cblr-12479	96	143	note	note	PROPN
cblr-12479	96	144	27	27	NUM
cblr-12479	96	145	,	,	PUNCT
cblr-12479	96	146	at	at	ADP
cblr-12479	96	147	1–10	1–10	NOUN
cblr-12479	96	148	;	;	PUNCT
cblr-12479	96	149	berger	berger	PROPN
cblr-12479	96	150	&	&	CCONJ
cblr-12479	96	151	udell	udell	PROPN
cblr-12479	96	152	,	,	PUNCT
cblr-12479	96	153	supra	supra	PROPN
cblr-12479	96	154	note	note	NOUN
cblr-12479	96	155	27	27	NUM
cblr-12479	96	156	;	;	PUNCT
cblr-12479	96	157	see	see	VERB
cblr-12479	96	158	also	also	ADV
cblr-12479	96	159	paul	paul	PROPN
cblr-12479	96	160	a.	a.	PROPN
cblr-12479	96	161	gompers	gompers	PROPN
cblr-12479	96	162	,	,	PUNCT
cblr-12479	96	163	optimal	optimal	ADJ
cblr-12479	96	164	investment	investment	NOUN
cblr-12479	96	165	,	,	PUNCT
cblr-12479	96	166	monitoring	monitoring	NOUN
cblr-12479	96	167	,	,	PUNCT
cblr-12479	96	168	and	and	CCONJ
cblr-12479	96	169	the	the	DET
cblr-12479	96	170	staging	staging	NOUN
cblr-12479	96	171	of	of	ADP
cblr-12479	96	172	venture	venture	NOUN
cblr-12479	96	173	capital	capital	NOUN
cblr-12479	96	174	,	,	PUNCT
cblr-12479	96	175	50	50	NUM
cblr-12479	96	176	j.	j.	PROPN
cblr-12479	96	177	fin	fin	PROPN
cblr-12479	96	178	.	.	PUNCT
cblr-12479	96	179	1461	1461	NUM
cblr-12479	96	180	(	(	PUNCT
cblr-12479	96	181	1995	1995	NUM
cblr-12479	96	182	)	)	PUNCT
cblr-12479	96	183	.	.	PUNCT
cblr-12479	97	1	29	29	NUM
cblr-12479	97	2	robert	robert	PROPN
cblr-12479	97	3	cooter	cooter	PROPN
cblr-12479	97	4	&	&	CCONJ
cblr-12479	97	5	hans	hans	PROPN
cblr-12479	97	6	bernd	bernd	PROPN
cblr-12479	97	7	schäfer	schäfer	PROPN
cblr-12479	97	8	,	,	PUNCT
cblr-12479	97	9	the	the	DET
cblr-12479	97	10	secret	secret	NOUN
cblr-12479	97	11	of	of	ADP
cblr-12479	97	12	growth	growth	NOUN
cblr-12479	97	13	is	be	AUX
cblr-12479	97	14	financing	finance	VERB
cblr-12479	97	15	secrets	secret	NOUN
cblr-12479	97	16	:	:	PUNCT
cblr-12479	97	17	corporate	corporate	ADJ
cblr-12479	97	18	law	law	NOUN
cblr-12479	97	19	and	and	CCONJ
cblr-12479	97	20	growth	growth	NOUN
cblr-12479	97	21	economics	economic	NOUN
cblr-12479	97	22	,	,	PUNCT
cblr-12479	97	23	54	54	NUM
cblr-12479	97	24	j.l	j.l	PROPN
cblr-12479	97	25	.	.	PROPN
cblr-12479	97	26	&	&	CCONJ
cblr-12479	97	27	econ	econ	PROPN
cblr-12479	97	28	.	.	PUNCT
cblr-12479	98	1	s105	s105	PROPN
cblr-12479	98	2	(	(	PUNCT
cblr-12479	98	3	2011	2011	NUM
cblr-12479	98	4	)	)	PUNCT
cblr-12479	98	5	.	.	PUNCT
cblr-12479	99	1	30	30	NUM
cblr-12479	99	2	see	see	VERB
cblr-12479	99	3	david	david	PROPN
cblr-12479	99	4	h.	h.	PROPN
cblr-12479	99	5	hsu	hsu	PROPN
cblr-12479	99	6	,	,	PUNCT
cblr-12479	99	7	experienced	experience	VERB
cblr-12479	99	8	entrepreneurial	entrepreneurial	ADJ
cblr-12479	99	9	founders	founder	NOUN
cblr-12479	99	10	,	,	PUNCT
cblr-12479	99	11	organizational	organizational	ADJ
cblr-12479	99	12	capital	capital	NOUN
cblr-12479	99	13	,	,	PUNCT
cblr-12479	99	14	and	and	CCONJ
cblr-12479	99	15	venture	venture	NOUN
cblr-12479	99	16	capital	capital	PROPN
cblr-12479	99	17	funding	funding	NOUN
cblr-12479	99	18	,	,	PUNCT
cblr-12479	99	19	36	36	NUM
cblr-12479	99	20	rsch	rsch	NOUN
cblr-12479	99	21	.	.	PUNCT
cblr-12479	100	1	pol’y	pol’y	NOUN
cblr-12479	100	2	722	722	NUM
cblr-12479	100	3	(	(	PUNCT
cblr-12479	100	4	2007	2007	NUM
cblr-12479	100	5	)	)	PUNCT
cblr-12479	100	6	;	;	PUNCT
cblr-12479	100	7	see	see	VERB
cblr-12479	100	8	also	also	ADV
cblr-12479	100	9	da	da	PROPN
cblr-12479	100	10	rin	rin	PROPN
cblr-12479	100	11	&	&	CCONJ
cblr-12479	100	12	hellmann	hellmann	PROPN
cblr-12479	100	13	,	,	PUNCT
cblr-12479	100	14	supra	supra	PROPN
cblr-12479	100	15	note	note	PROPN
cblr-12479	100	16	27	27	NUM
cblr-12479	100	17	,	,	PUNCT
cblr-12479	100	18	at	at	ADP
cblr-12479	100	19	45–48	45–48	NUM
cblr-12479	100	20	(	(	PUNCT
cblr-12479	100	21	discussing	discuss	VERB
cblr-12479	100	22	how	how	SCONJ
cblr-12479	100	23	the	the	DET
cblr-12479	100	24	entrepreneurial	entrepreneurial	ADJ
cblr-12479	100	25	team	team	NOUN
cblr-12479	100	26	’s	’s	PART
cblr-12479	100	27	experience	experience	NOUN
cblr-12479	100	28	conditions	condition	NOUN
cblr-12479	100	29	access	access	NOUN
cblr-12479	100	30	to	to	ADP
cblr-12479	100	31	venture	venture	NOUN
cblr-12479	100	32	capital	capital	NOUN
cblr-12479	100	33	finance	finance	NOUN
cblr-12479	100	34	)	)	PUNCT
cblr-12479	100	35	.	.	PUNCT
cblr-12479	101	1	31	31	NUM
cblr-12479	101	2	for	for	ADP
cblr-12479	101	3	a	a	DET
cblr-12479	101	4	historical	historical	ADJ
cblr-12479	101	5	account	account	NOUN
cblr-12479	101	6	of	of	ADP
cblr-12479	101	7	the	the	DET
cblr-12479	101	8	emergence	emergence	NOUN
cblr-12479	101	9	and	and	CCONJ
cblr-12479	101	10	development	development	NOUN
cblr-12479	101	11	of	of	ADP
cblr-12479	101	12	these	these	DET
cblr-12479	101	13	business	business	NOUN
cblr-12479	101	14	ventures	venture	NOUN
cblr-12479	101	15	,	,	PUNCT
cblr-12479	101	16	see	see	VERB
cblr-12479	101	17	tom	tom	PROPN
cblr-12479	101	18	nicholas	nicholas	PROPN
cblr-12479	101	19	,	,	PUNCT
cblr-12479	101	20	vc	vc	NOUN
cblr-12479	101	21	:	:	PUNCT
cblr-12479	101	22	an	an	DET
cblr-12479	101	23	american	american	ADJ
cblr-12479	101	24	history	history	NOUN
cblr-12479	101	25	(	(	PUNCT
cblr-12479	101	26	2019	2019	NUM
cblr-12479	101	27	)	)	PUNCT
cblr-12479	101	28	.	.	PUNCT
cblr-12479	102	1	32	32	NUM
cblr-12479	102	2	see	see	VERB
cblr-12479	102	3	berger	berger	PROPN
cblr-12479	102	4	&	&	CCONJ
cblr-12479	102	5	udell	udell	PROPN
cblr-12479	102	6	,	,	PUNCT
cblr-12479	102	7	supra	supra	PROPN
cblr-12479	102	8	note	note	NOUN
cblr-12479	102	9	27	27	NUM
cblr-12479	102	10	;	;	PUNCT
cblr-12479	102	11	william	william	PROPN
cblr-12479	102	12	a.	a.	PROPN
cblr-12479	102	13	sahlman	sahlman	PROPN
cblr-12479	102	14	,	,	PUNCT
cblr-12479	102	15	the	the	DET
cblr-12479	102	16	structure	structure	NOUN
cblr-12479	102	17	and	and	CCONJ
cblr-12479	102	18	governance	governance	NOUN
cblr-12479	102	19	of	of	ADP
cblr-12479	102	20	venture	venture	NOUN
cblr-12479	102	21	capital	capital	NOUN
cblr-12479	102	22	organizations	organization	NOUN
cblr-12479	102	23	,	,	PUNCT
cblr-12479	102	24	27	27	NUM
cblr-12479	102	25	j.	j.	PROPN
cblr-12479	102	26	fin	fin	PROPN
cblr-12479	102	27	.	.	PUNCT
cblr-12479	102	28	econ	econ	PROPN
cblr-12479	102	29	.	.	PUNCT
cblr-12479	103	1	473	473	NUM
cblr-12479	103	2	(	(	PUNCT
cblr-12479	103	3	1990	1990	NUM
cblr-12479	103	4	)	)	PUNCT
cblr-12479	103	5	.	.	PUNCT
cblr-12479	104	1	33	33	NUM
cblr-12479	104	2	see	see	VERB
cblr-12479	104	3	oliver	oliver	PROPN
cblr-12479	104	4	hart	hart	PROPN
cblr-12479	104	5	,	,	PUNCT
cblr-12479	104	6	financial	financial	ADJ
cblr-12479	104	7	contracting	contracting	NOUN
cblr-12479	104	8	,	,	PUNCT
cblr-12479	104	9	39	39	NUM
cblr-12479	104	10	j.	j.	PROPN
cblr-12479	104	11	econ	econ	PROPN
cblr-12479	104	12	.	.	PUNCT
cblr-12479	105	1	literature	literature	PROPN
cblr-12479	105	2	.	.	PUNCT
cblr-12479	106	1	1079	1079	NUM
cblr-12479	106	2	(	(	PUNCT
cblr-12479	106	3	2001	2001	NUM
cblr-12479	106	4	)	)	PUNCT
cblr-12479	106	5	.	.	PUNCT
cblr-12479	107	1	no	no	INTJ
cblr-12479	107	2	.	.	NOUN
cblr-12479	108	1	2	2	NUM
cblr-12479	108	2	]	]	PUNCT
cblr-12479	108	3	the	the	DET
cblr-12479	108	4	law	law	NOUN
cblr-12479	108	5	of	of	ADP
cblr-12479	108	6	contingent	contingent	NOUN
cblr-12479	108	7	control	control	VERB
cblr-12479	108	8	685	685	NUM
cblr-12479	108	9	incentive	incentive	NOUN
cblr-12479	108	10	than	than	ADP
cblr-12479	108	11	the	the	DET
cblr-12479	108	12	financial	financial	ADJ
cblr-12479	108	13	one	one	NUM
cblr-12479	108	14	.	.	PUNCT
cblr-12479	109	1	the	the	DET
cblr-12479	109	2	differences	difference	NOUN
cblr-12479	109	3	between	between	ADP
cblr-12479	109	4	what	what	PRON
cblr-12479	109	5	each	each	PRON
cblr-12479	109	6	of	of	ADP
cblr-12479	109	7	them	they	PRON
cblr-12479	109	8	contributes	contribute	VERB
cblr-12479	109	9	to	to	ADP
cblr-12479	109	10	and	and	CCONJ
cblr-12479	109	11	expects	expect	VERB
cblr-12479	109	12	from	from	ADP
cblr-12479	109	13	the	the	DET
cblr-12479	109	14	venture	venture	NOUN
cblr-12479	109	15	,	,	PUNCT
cblr-12479	109	16	as	as	ADV
cblr-12479	109	17	well	well	ADV
cblr-12479	109	18	as	as	ADP
cblr-12479	109	19	the	the	DET
cblr-12479	109	20	information	information	NOUN
cblr-12479	109	21	that	that	PRON
cblr-12479	109	22	each	each	PRON
cblr-12479	109	23	of	of	ADP
cblr-12479	109	24	them	they	PRON
cblr-12479	109	25	holds	hold	VERB
cblr-12479	109	26	or	or	CCONJ
cblr-12479	109	27	can	can	AUX
cblr-12479	109	28	access	access	VERB
cblr-12479	109	29	and	and	CCONJ
cblr-12479	109	30	credibly	credibly	ADV
cblr-12479	109	31	commit	commit	VERB
cblr-12479	109	32	to	to	ADP
cblr-12479	109	33	sharing	share	VERB
cblr-12479	109	34	with	with	ADP
cblr-12479	109	35	the	the	DET
cblr-12479	109	36	other	other	ADJ
cblr-12479	109	37	(	(	PUNCT
cblr-12479	109	38	information	information	NOUN
cblr-12479	109	39	asymmetries	asymmetry	NOUN
cblr-12479	109	40	)	)	PUNCT
cblr-12479	109	41	,	,	PUNCT
cblr-12479	109	42	create	create	VERB
cblr-12479	109	43	a	a	DET
cblr-12479	109	44	natural	natural	ADJ
cblr-12479	109	45	distrust	distrust	NOUN
cblr-12479	109	46	that	that	PRON
cblr-12479	109	47	ultimately	ultimately	ADV
cblr-12479	109	48	threatens	threaten	VERB
cblr-12479	109	49	the	the	DET
cblr-12479	109	50	finance	finance	NOUN
cblr-12479	109	51	of	of	ADP
cblr-12479	109	52	high	high	ADJ
cblr-12479	109	53	-	-	PUNCT
cblr-12479	109	54	risk	risk	NOUN
cblr-12479	109	55	and	and	CCONJ
cblr-12479	109	56	potentially	potentially	ADV
cblr-12479	109	57	high	high	ADJ
cblr-12479	109	58	-	-	PUNCT
cblr-12479	109	59	growth	growth	NOUN
cblr-12479	109	60	firms.34	firms.34	NOUN
cblr-12479	109	61	developing	develop	VERB
cblr-12479	109	62	contractual	contractual	ADJ
cblr-12479	109	63	solutions	solution	NOUN
cblr-12479	109	64	to	to	ADP
cblr-12479	109	65	problems	problem	NOUN
cblr-12479	109	66	derived	derive	VERB
cblr-12479	109	67	from	from	ADP
cblr-12479	109	68	founder	founder	NOUN
cblr-12479	109	69	-	-	PUNCT
cblr-12479	109	70	investor	investor	NOUN
cblr-12479	109	71	’s	’s	PART
cblr-12479	109	72	incentive	incentive	NOUN
cblr-12479	109	73	misalignments	misalignment	NOUN
cblr-12479	109	74	and	and	CCONJ
cblr-12479	109	75	distrust	distrust	NOUN
cblr-12479	109	76	is	be	AUX
cblr-12479	109	77	desirable	desirable	ADJ
cblr-12479	109	78	,	,	PUNCT
cblr-12479	109	79	but	but	CCONJ
cblr-12479	109	80	difficult	difficult	ADJ
cblr-12479	109	81	.	.	PUNCT
cblr-12479	110	1	first	first	ADV
cblr-12479	110	2	,	,	PUNCT
cblr-12479	110	3	distributing	distribute	VERB
cblr-12479	110	4	cash	cash	NOUN
cblr-12479	110	5	flow	flow	NOUN
cblr-12479	110	6	and	and	CCONJ
cblr-12479	110	7	control	control	NOUN
cblr-12479	110	8	rights	right	NOUN
cblr-12479	110	9	is	be	AUX
cblr-12479	110	10	challenging	challenge	VERB
cblr-12479	110	11	,	,	PUNCT
cblr-12479	110	12	given	give	VERB
cblr-12479	110	13	uncertainties	uncertainty	NOUN
cblr-12479	110	14	over	over	ADP
cblr-12479	110	15	the	the	DET
cblr-12479	110	16	value	value	NOUN
cblr-12479	110	17	of	of	ADP
cblr-12479	110	18	entrepreneurs	entrepreneur	NOUN
cblr-12479	110	19	’	’	PART
cblr-12479	110	20	ideas	idea	NOUN
cblr-12479	110	21	and	and	CCONJ
cblr-12479	110	22	potential	potential	ADJ
cblr-12479	110	23	outcomes.35	outcomes.35	NOUN
cblr-12479	110	24	investors	investor	NOUN
cblr-12479	110	25	,	,	PUNCT
cblr-12479	110	26	who	who	PRON
cblr-12479	110	27	can	can	AUX
cblr-12479	110	28	quantify	quantify	VERB
cblr-12479	110	29	their	their	PRON
cblr-12479	110	30	contribution	contribution	NOUN
cblr-12479	110	31	,	,	PUNCT
cblr-12479	110	32	may	may	AUX
cblr-12479	110	33	secure	secure	VERB
cblr-12479	110	34	higher	high	ADJ
cblr-12479	110	35	controlling	control	VERB
cblr-12479	110	36	rights	right	NOUN
cblr-12479	110	37	.	.	PUNCT
cblr-12479	111	1	but	but	CCONJ
cblr-12479	111	2	in	in	ADP
cblr-12479	111	3	doing	do	VERB
cblr-12479	111	4	so	so	ADV
cblr-12479	111	5	,	,	PUNCT
cblr-12479	111	6	they	they	PRON
cblr-12479	111	7	may	may	AUX
cblr-12479	111	8	weaken	weaken	VERB
cblr-12479	111	9	entrepreneurs	entrepreneur	NOUN
cblr-12479	111	10	’	'	PUNCT
cblr-12479	111	11	trust	trust	NOUN
cblr-12479	111	12	and	and	CCONJ
cblr-12479	111	13	effort	effort	NOUN
cblr-12479	111	14	,	,	PUNCT
cblr-12479	111	15	thereby	thereby	ADV
cblr-12479	111	16	threatening	threaten	VERB
cblr-12479	111	17	the	the	DET
cblr-12479	111	18	potential	potential	ADJ
cblr-12479	111	19	success	success	NOUN
cblr-12479	111	20	of	of	ADP
cblr-12479	111	21	the	the	DET
cblr-12479	111	22	business.36	business.36	NOUN
cblr-12479	111	23	second	second	ADJ
cblr-12479	111	24	,	,	PUNCT
cblr-12479	111	25	even	even	ADV
cblr-12479	111	26	when	when	SCONJ
cblr-12479	111	27	parties	party	NOUN
cblr-12479	111	28	reach	reach	VERB
cblr-12479	111	29	a	a	DET
cblr-12479	111	30	balanced	balanced	ADJ
cblr-12479	111	31	agreement	agreement	NOUN
cblr-12479	111	32	,	,	PUNCT
cblr-12479	111	33	business	business	NOUN
cblr-12479	111	34	ventures	venture	NOUN
cblr-12479	111	35	inevitably	inevitably	ADV
cblr-12479	111	36	experience	experience	VERB
cblr-12479	111	37	eventualities	eventuality	NOUN
cblr-12479	111	38	that	that	PRON
cblr-12479	111	39	are	be	AUX
cblr-12479	111	40	impossible	impossible	ADJ
cblr-12479	111	41	to	to	PART
cblr-12479	111	42	foresee	foresee	VERB
cblr-12479	111	43	and	and	CCONJ
cblr-12479	111	44	regulate	regulate	VERB
cblr-12479	111	45	,	,	PUNCT
cblr-12479	111	46	and	and	CCONJ
cblr-12479	111	47	that	that	PRON
cblr-12479	111	48	might	might	AUX
cblr-12479	111	49	affect	affect	VERB
cblr-12479	111	50	each	each	PRON
cblr-12479	111	51	of	of	ADP
cblr-12479	111	52	them	they	PRON
cblr-12479	111	53	differently	differently	ADV
cblr-12479	111	54	.	.	PUNCT
cblr-12479	112	1	hence	hence	ADV
cblr-12479	112	2	,	,	PUNCT
cblr-12479	112	3	their	their	PRON
cblr-12479	112	4	relationship	relationship	NOUN
cblr-12479	112	5	is	be	AUX
cblr-12479	112	6	perceived	perceive	VERB
cblr-12479	112	7	to	to	PART
cblr-12479	112	8	be	be	AUX
cblr-12479	112	9	governed	govern	VERB
cblr-12479	112	10	by	by	ADP
cblr-12479	112	11	incomplete	incomplete	ADJ
cblr-12479	112	12	contracts.37	contracts.37	NOUN
cblr-12479	112	13	entrepreneurs	entrepreneur	NOUN
cblr-12479	112	14	and	and	CCONJ
cblr-12479	112	15	investors	investor	NOUN
cblr-12479	112	16	could	could	AUX
cblr-12479	112	17	ease	ease	VERB
cblr-12479	112	18	the	the	DET
cblr-12479	112	19	risks	risk	NOUN
cblr-12479	112	20	of	of	ADP
cblr-12479	112	21	incomplete	incomplete	ADJ
cblr-12479	112	22	contracts	contract	NOUN
cblr-12479	112	23	by	by	ADP
cblr-12479	112	24	strategically	strategically	ADV
cblr-12479	112	25	allocating	allocate	VERB
cblr-12479	112	26	decisionmaking	decisionmake	VERB
cblr-12479	112	27	authority	authority	NOUN
cblr-12479	112	28	to	to	ADP
cblr-12479	112	29	the	the	DET
cblr-12479	112	30	party	party	NOUN
cblr-12479	112	31	that	that	PRON
cblr-12479	112	32	is	be	AUX
cblr-12479	112	33	less	less	ADV
cblr-12479	112	34	prone	prone	ADJ
cblr-12479	112	35	to	to	PART
cblr-12479	112	36	act	act	VERB
cblr-12479	112	37	opportunistically	opportunistically	ADV
cblr-12479	112	38	or	or	CCONJ
cblr-12479	112	39	engage	engage	VERB
cblr-12479	112	40	in	in	ADP
cblr-12479	112	41	moral	moral	ADJ
cblr-12479	112	42	hazard	hazard	NOUN
cblr-12479	112	43	when	when	SCONJ
cblr-12479	112	44	it	it	PRON
cblr-12479	112	45	matters	matter	VERB
cblr-12479	112	46	the	the	DET
cblr-12479	112	47	most.38	most.38	NOUN
cblr-12479	112	48	still	still	ADV
cblr-12479	112	49	,	,	PUNCT
cblr-12479	112	50	identifying	identify	VERB
cblr-12479	112	51	how	how	SCONJ
cblr-12479	112	52	different	different	ADJ
cblr-12479	112	53	eventualities	eventuality	NOUN
cblr-12479	112	54	might	might	AUX
cblr-12479	112	55	34	34	NUM
cblr-12479	112	56	cooter	cooter	VERB
cblr-12479	112	57	&	&	CCONJ
cblr-12479	112	58	schäfer	schäfer	NOUN
cblr-12479	112	59	,	,	PUNCT
cblr-12479	112	60	supra	supra	PROPN
cblr-12479	112	61	note	note	NOUN
cblr-12479	112	62	29	29	NUM
cblr-12479	112	63	.	.	NUM
cblr-12479	112	64	35	35	NUM
cblr-12479	112	65	in	in	ADP
cblr-12479	112	66	fact	fact	NOUN
cblr-12479	112	67	,	,	PUNCT
cblr-12479	112	68	there	there	PRON
cblr-12479	112	69	is	be	VERB
cblr-12479	112	70	an	an	DET
cblr-12479	112	71	ongoing	ongoing	ADJ
cblr-12479	112	72	debate	debate	NOUN
cblr-12479	112	73	in	in	ADP
cblr-12479	112	74	the	the	DET
cblr-12479	112	75	academic	academic	ADJ
cblr-12479	112	76	literature	literature	NOUN
cblr-12479	112	77	on	on	ADP
cblr-12479	112	78	whether	whether	SCONJ
cblr-12479	112	79	the	the	DET
cblr-12479	112	80	organizational	organizational	ADJ
cblr-12479	112	81	capital	capital	NOUN
cblr-12479	112	82	produced	produce	VERB
cblr-12479	112	83	by	by	ADP
cblr-12479	112	84	successful	successful	ADJ
cblr-12479	112	85	teams	team	NOUN
cblr-12479	112	86	of	of	ADP
cblr-12479	112	87	founders	founder	NOUN
cblr-12479	112	88	should	should	AUX
cblr-12479	112	89	be	be	AUX
cblr-12479	112	90	treated	treat	VERB
cblr-12479	112	91	as	as	ADP
cblr-12479	112	92	endowment	endowment	NOUN
cblr-12479	112	93	or	or	CCONJ
cblr-12479	112	94	investment	investment	NOUN
cblr-12479	112	95	,	,	PUNCT
cblr-12479	112	96	given	give	VERB
cblr-12479	112	97	that	that	SCONJ
cblr-12479	112	98	in	in	ADP
cblr-12479	112	99	the	the	DET
cblr-12479	112	100	latter	latter	ADJ
cblr-12479	112	101	case	case	NOUN
cblr-12479	112	102	there	there	PRON
cblr-12479	112	103	is	be	VERB
cblr-12479	112	104	a	a	DET
cblr-12479	112	105	“	"	PUNCT
cblr-12479	112	106	possibility	possibility	NOUN
cblr-12479	112	107	of	of	ADP
cblr-12479	112	108	over	over	ADP
cblr-12479	112	109	-	-	PUNCT
cblr-12479	112	110	or	or	CCONJ
cblr-12479	112	111	-	-	PUNCT
cblr-12479	112	112	under	under	ADJ
cblr-12479	112	113	investment	investment	NOUN
cblr-12479	112	114	.	.	PUNCT
cblr-12479	112	115	”	"	PUNCT
cblr-12479	113	1	hsu	hsu	PROPN
cblr-12479	113	2	,	,	PUNCT
cblr-12479	113	3	supra	supra	PROPN
cblr-12479	113	4	note	note	PROPN
cblr-12479	113	5	30	30	NUM
cblr-12479	113	6	,	,	PUNCT
cblr-12479	113	7	at	at	ADP
cblr-12479	113	8	723	723	NUM
cblr-12479	113	9	.	.	PUNCT
cblr-12479	114	1	for	for	ADP
cblr-12479	114	2	an	an	DET
cblr-12479	114	3	analysis	analysis	NOUN
cblr-12479	114	4	and	and	CCONJ
cblr-12479	114	5	empirical	empirical	ADJ
cblr-12479	114	6	evidence	evidence	NOUN
cblr-12479	114	7	on	on	ADP
cblr-12479	114	8	how	how	SCONJ
cblr-12479	114	9	founders	founder	NOUN
cblr-12479	114	10	’	'	PUNCT
cblr-12479	114	11	experience	experience	NOUN
cblr-12479	114	12	influences	influence	VERB
cblr-12479	114	13	startups	startup	NOUN
cblr-12479	114	14	’	'	PUNCT
cblr-12479	114	15	valuation	valuation	NOUN
cblr-12479	114	16	,	,	PUNCT
cblr-12479	114	17	see	see	VERB
cblr-12479	114	18	i	i	PRON
cblr-12479	114	19	d.	d.	PROPN
cblr-12479	114	20	see	see	VERB
cblr-12479	114	21	also	also	ADV
cblr-12479	114	22	da	da	PROPN
cblr-12479	114	23	rin	rin	PROPN
cblr-12479	114	24	and	and	CCONJ
cblr-12479	114	25	hellmann	hellmann	PROPN
cblr-12479	114	26	,	,	PUNCT
cblr-12479	115	1	supra	supra	PROPN
cblr-12479	115	2	note	note	PROPN
cblr-12479	115	3	27	27	NUM
cblr-12479	115	4	,	,	PUNCT
cblr-12479	115	5	at	at	ADP
cblr-12479	115	6	45–48	45–48	NUM
cblr-12479	115	7	.	.	PUNCT
cblr-12479	116	1	36	36	NUM
cblr-12479	116	2	hart	hart	PROPN
cblr-12479	116	3	,	,	PUNCT
cblr-12479	116	4	supra	supra	PROPN
cblr-12479	116	5	note	note	VERB
cblr-12479	116	6	33	33	NUM
cblr-12479	116	7	.	.	NOUN
cblr-12479	116	8	37	37	NUM
cblr-12479	116	9	for	for	ADP
cblr-12479	116	10	an	an	DET
cblr-12479	116	11	overview	overview	NOUN
cblr-12479	116	12	of	of	ADP
cblr-12479	116	13	this	this	DET
cblr-12479	116	14	literature	literature	NOUN
cblr-12479	116	15	and	and	CCONJ
cblr-12479	116	16	its	its	PRON
cblr-12479	116	17	implications	implication	NOUN
cblr-12479	116	18	,	,	PUNCT
cblr-12479	116	19	see	see	VERB
cblr-12479	116	20	philippe	philippe	PROPN
cblr-12479	116	21	aghion	aghion	NOUN
cblr-12479	116	22	&	&	CCONJ
cblr-12479	116	23	richard	richard	PROPN
cblr-12479	116	24	holden	holden	PROPN
cblr-12479	116	25	,	,	PUNCT
cblr-12479	116	26	incomplete	incomplete	ADJ
cblr-12479	116	27	contracts	contract	NOUN
cblr-12479	116	28	and	and	CCONJ
cblr-12479	116	29	the	the	DET
cblr-12479	116	30	theory	theory	NOUN
cblr-12479	116	31	of	of	ADP
cblr-12479	116	32	the	the	DET
cblr-12479	116	33	firm	firm	NOUN
cblr-12479	116	34	:	:	PUNCT
cblr-12479	116	35	what	what	PRON
cblr-12479	116	36	have	have	AUX
cblr-12479	116	37	we	we	PRON
cblr-12479	116	38	learned	learn	VERB
cblr-12479	116	39	over	over	ADP
cblr-12479	116	40	the	the	DET
cblr-12479	116	41	past	past	ADJ
cblr-12479	116	42	25	25	NUM
cblr-12479	116	43	years	year	NOUN
cblr-12479	116	44	?	?	PUNCT
cblr-12479	116	45	,	,	PUNCT
cblr-12479	116	46	25	25	NUM
cblr-12479	116	47	j.	j.	PROPN
cblr-12479	116	48	econ	econ	PROPN
cblr-12479	116	49	.	.	PUNCT
cblr-12479	117	1	persps	persps	PROPN
cblr-12479	117	2	.	.	PUNCT
cblr-12479	118	1	181	181	NUM
cblr-12479	118	2	(	(	PUNCT
cblr-12479	118	3	2011	2011	NUM
cblr-12479	118	4	)	)	PUNCT
cblr-12479	118	5	.	.	PUNCT
cblr-12479	119	1	38	38	NUM
cblr-12479	119	2	i	i	PROPN
cblr-12479	119	3	d.	d.	PROPN
cblr-12479	119	4	;	;	PUNCT
cblr-12479	119	5	see	see	VERB
cblr-12479	119	6	also	also	ADV
cblr-12479	119	7	hart	hart	PROPN
cblr-12479	119	8	,	,	PUNCT
cblr-12479	119	9	supra	supra	PROPN
cblr-12479	119	10	note	note	VERB
cblr-12479	119	11	33	33	NUM
cblr-12479	119	12	.	.	NOUN
cblr-12479	120	1	686	686	NUM
cblr-12479	120	2	columbia	columbia	PROPN
cblr-12479	120	3	business	business	NOUN
cblr-12479	120	4	law	law	PROPN
cblr-12479	120	5	review	review	NOUN
cblr-12479	120	6	[	[	X
cblr-12479	120	7	vol	vol	NOUN
cblr-12479	120	8	.	.	PUNCT
cblr-12479	120	9	2023	2023	NUM
cblr-12479	120	10	change	change	VERB
cblr-12479	120	11	the	the	DET
cblr-12479	120	12	incentives	incentive	NOUN
cblr-12479	120	13	of	of	ADP
cblr-12479	120	14	different	different	ADJ
cblr-12479	120	15	participants	participant	NOUN
cblr-12479	120	16	has	have	AUX
cblr-12479	120	17	proven	prove	VERB
cblr-12479	120	18	difficult	difficult	ADJ
cblr-12479	120	19	,	,	PUNCT
cblr-12479	120	20	even	even	ADV
cblr-12479	120	21	theoretically	theoretically	ADV
cblr-12479	120	22	.	.	PUNCT
cblr-12479	121	1	financial	financial	ADJ
cblr-12479	121	2	contracting	contracting	NOUN
cblr-12479	121	3	theorists	theorist	NOUN
cblr-12479	121	4	have	have	AUX
cblr-12479	121	5	considered	consider	VERB
cblr-12479	121	6	an	an	DET
cblr-12479	121	7	array	array	NOUN
cblr-12479	121	8	of	of	ADP
cblr-12479	121	9	control	control	NOUN
cblr-12479	121	10	allocations	allocation	NOUN
cblr-12479	121	11	that	that	PRON
cblr-12479	121	12	might	might	AUX
cblr-12479	121	13	alleviate	alleviate	VERB
cblr-12479	121	14	these	these	DET
cblr-12479	121	15	problems	problem	NOUN
cblr-12479	121	16	and	and	CCONJ
cblr-12479	121	17	lead	lead	VERB
cblr-12479	121	18	to	to	ADP
cblr-12479	121	19	socially	socially	ADV
cblr-12479	121	20	efficient	efficient	ADJ
cblr-12479	121	21	outcomes	outcome	NOUN
cblr-12479	121	22	,	,	PUNCT
cblr-12479	121	23	i.e.	i.e.	X
cblr-12479	121	24	,	,	PUNCT
cblr-12479	121	25	those	those	PRON
cblr-12479	121	26	in	in	ADP
cblr-12479	121	27	which	which	PRON
cblr-12479	121	28	the	the	DET
cblr-12479	121	29	payoffs	payoff	NOUN
cblr-12479	121	30	of	of	ADP
cblr-12479	121	31	both	both	PRON
cblr-12479	121	32	are	be	AUX
cblr-12479	121	33	maximized	maximize	VERB
cblr-12479	121	34	.	.	PUNCT
cblr-12479	122	1	one	one	NUM
cblr-12479	122	2	of	of	ADP
cblr-12479	122	3	the	the	DET
cblr-12479	122	4	most	most	ADV
cblr-12479	122	5	influential	influential	ADJ
cblr-12479	122	6	models	model	NOUN
cblr-12479	122	7	of	of	ADP
cblr-12479	122	8	control	control	NOUN
cblr-12479	122	9	in	in	ADP
cblr-12479	122	10	financial	financial	ADJ
cblr-12479	122	11	contracting	contracting	NOUN
cblr-12479	122	12	was	be	AUX
cblr-12479	122	13	developed	develop	VERB
cblr-12479	122	14	by	by	ADP
cblr-12479	122	15	philippe	philippe	PROPN
cblr-12479	122	16	aghion	aghion	NOUN
cblr-12479	122	17	and	and	CCONJ
cblr-12479	122	18	patrick	patrick	PROPN
cblr-12479	122	19	bolton	bolton	PROPN
cblr-12479	122	20	,	,	PUNCT
cblr-12479	122	21	who	who	PRON
cblr-12479	122	22	—	—	PUNCT
cblr-12479	122	23	in	in	ADP
cblr-12479	122	24	very	very	ADV
cblr-12479	122	25	broad	broad	ADJ
cblr-12479	122	26	terms	term	NOUN
cblr-12479	122	27	—	—	PUNCT
cblr-12479	122	28	concluded	conclude	VERB
cblr-12479	122	29	that	that	SCONJ
cblr-12479	122	30	an	an	DET
cblr-12479	122	31	efficient	efficient	ADJ
cblr-12479	122	32	contract	contract	NOUN
cblr-12479	122	33	should	should	AUX
cblr-12479	122	34	allocate	allocate	VERB
cblr-12479	122	35	control	control	NOUN
cblr-12479	122	36	to	to	ADP
cblr-12479	122	37	financiers	financier	NOUN
cblr-12479	122	38	in	in	ADP
cblr-12479	122	39	events	event	NOUN
cblr-12479	122	40	when	when	SCONJ
cblr-12479	122	41	ruthless	ruthless	ADJ
cblr-12479	122	42	value	value	NOUN
cblr-12479	122	43	maximization	maximization	NOUN
cblr-12479	122	44	is	be	AUX
cblr-12479	122	45	more	more	ADV
cblr-12479	122	46	efficient	efficient	ADJ
cblr-12479	122	47	,	,	PUNCT
cblr-12479	122	48	and	and	CCONJ
cblr-12479	122	49	to	to	ADP
cblr-12479	122	50	entrepreneurs	entrepreneur	NOUN
cblr-12479	122	51	when	when	SCONJ
cblr-12479	122	52	it	it	PRON
cblr-12479	122	53	is	be	AUX
cblr-12479	122	54	not.39	not.39	ADJ
cblr-12479	122	55	if	if	SCONJ
cblr-12479	122	56	aghion	aghion	NOUN
cblr-12479	122	57	and	and	CCONJ
cblr-12479	122	58	bolton	bolton	PROPN
cblr-12479	122	59	’s	’s	PART
cblr-12479	122	60	model	model	NOUN
cblr-12479	122	61	were	be	AUX
cblr-12479	122	62	correct	correct	ADJ
cblr-12479	122	63	,	,	PUNCT
cblr-12479	122	64	contingent	contingent	ADJ
cblr-12479	122	65	control	control	NOUN
cblr-12479	122	66	could	could	AUX
cblr-12479	122	67	be	be	AUX
cblr-12479	122	68	an	an	DET
cblr-12479	122	69	appropriate	appropriate	ADJ
cblr-12479	122	70	solution	solution	NOUN
cblr-12479	122	71	to	to	ADP
cblr-12479	122	72	the	the	DET
cblr-12479	122	73	identified	identify	VERB
cblr-12479	122	74	challenges	challenge	NOUN
cblr-12479	122	75	of	of	ADP
cblr-12479	122	76	financing	finance	VERB
cblr-12479	122	77	startups	startup	NOUN
cblr-12479	122	78	,	,	PUNCT
cblr-12479	122	79	so	so	ADV
cblr-12479	122	80	long	long	ADV
cblr-12479	122	81	as	as	SCONJ
cblr-12479	122	82	entrepreneurs	entrepreneur	NOUN
cblr-12479	122	83	and	and	CCONJ
cblr-12479	122	84	investors	investor	NOUN
cblr-12479	122	85	could	could	AUX
cblr-12479	122	86	reasonably	reasonably	ADV
cblr-12479	122	87	anticipate	anticipate	VERB
cblr-12479	122	88	the	the	DET
cblr-12479	122	89	occurrence	occurrence	NOUN
cblr-12479	122	90	of	of	ADP
cblr-12479	122	91	such	such	ADJ
cblr-12479	122	92	events	event	NOUN
cblr-12479	122	93	.	.	PUNCT
cblr-12479	123	1	building	build	VERB
cblr-12479	123	2	on	on	ADP
cblr-12479	123	3	aghion	aghion	NOUN
cblr-12479	123	4	and	and	CCONJ
cblr-12479	123	5	bolton	bolton	PROPN
cblr-12479	123	6	’s	’s	PART
cblr-12479	123	7	framework	framework	NOUN
cblr-12479	123	8	,	,	PUNCT
cblr-12479	123	9	a	a	DET
cblr-12479	123	10	rich	rich	ADJ
cblr-12479	123	11	literature	literature	NOUN
cblr-12479	123	12	has	have	AUX
cblr-12479	123	13	developed	develop	VERB
cblr-12479	123	14	to	to	PART
cblr-12479	123	15	explore	explore	VERB
cblr-12479	123	16	(	(	PUNCT
cblr-12479	123	17	and	and	CCONJ
cblr-12479	123	18	basically	basically	ADV
cblr-12479	123	19	confirm	confirm	VERB
cblr-12479	123	20	)	)	PUNCT
cblr-12479	123	21	the	the	DET
cblr-12479	123	22	predictive	predictive	ADJ
cblr-12479	123	23	value	value	NOUN
cblr-12479	123	24	of	of	ADP
cblr-12479	123	25	their	their	PRON
cblr-12479	123	26	model	model	NOUN
cblr-12479	123	27	for	for	ADP
cblr-12479	123	28	some	some	PRON
cblr-12479	123	29	of	of	ADP
cblr-12479	123	30	the	the	DET
cblr-12479	123	31	most	most	ADV
cblr-12479	123	32	sensitive	sensitive	ADJ
cblr-12479	123	33	decisions	decision	NOUN
cblr-12479	123	34	in	in	ADP
cblr-12479	123	35	vc	vc	PROPN
cblr-12479	123	36	investments	investment	NOUN
cblr-12479	123	37	,	,	PUNCT
cblr-12479	123	38	such	such	ADJ
cblr-12479	123	39	as	as	ADP
cblr-12479	123	40	exit	exit	NOUN
cblr-12479	123	41	options.40	options.40	NOUN
cblr-12479	123	42	in	in	ADP
cblr-12479	123	43	essence	essence	NOUN
cblr-12479	123	44	,	,	PUNCT
cblr-12479	123	45	this	this	DET
cblr-12479	123	46	literature	literature	NOUN
cblr-12479	123	47	maintains	maintain	VERB
cblr-12479	123	48	that	that	SCONJ
cblr-12479	123	49	changes	change	NOUN
cblr-12479	123	50	in	in	ADP
cblr-12479	123	51	firms	firm	NOUN
cblr-12479	123	52	’	’	PART
cblr-12479	123	53	performance	performance	NOUN
cblr-12479	123	54	are	be	AUX
cblr-12479	123	55	a	a	DET
cblr-12479	123	56	useful	useful	ADJ
cblr-12479	123	57	identifier	identifier	NOUN
cblr-12479	123	58	of	of	ADP
cblr-12479	123	59	changes	change	NOUN
cblr-12479	123	60	in	in	ADP
cblr-12479	123	61	participants	participant	NOUN
cblr-12479	123	62	’	'	PUNCT
cblr-12479	123	63	incentives	incentive	NOUN
cblr-12479	123	64	.	.	PUNCT
cblr-12479	124	1	thus	thus	ADV
cblr-12479	124	2	,	,	PUNCT
cblr-12479	124	3	based	base	VERB
cblr-12479	124	4	on	on	ADP
cblr-12479	124	5	expected	expect	VERB
cblr-12479	124	6	performance	performance	NOUN
cblr-12479	124	7	,	,	PUNCT
cblr-12479	124	8	they	they	PRON
cblr-12479	124	9	can	can	AUX
cblr-12479	124	10	reasonably	reasonably	ADV
cblr-12479	124	11	anticipate	anticipate	VERB
cblr-12479	124	12	who	who	PRON
cblr-12479	124	13	would	would	AUX
cblr-12479	124	14	be	be	AUX
cblr-12479	124	15	in	in	ADP
cblr-12479	124	16	a	a	DET
cblr-12479	124	17	better	well	ADJ
cblr-12479	124	18	position	position	NOUN
cblr-12479	124	19	to	to	PART
cblr-12479	124	20	make	make	VERB
cblr-12479	124	21	socially	socially	ADV
cblr-12479	124	22	efficient	efficient	ADJ
cblr-12479	124	23	decisions	decision	NOUN
cblr-12479	124	24	at	at	ADP
cblr-12479	124	25	different	different	ADJ
cblr-12479	124	26	points	point	NOUN
cblr-12479	124	27	in	in	ADP
cblr-12479	124	28	time	time	NOUN
cblr-12479	124	29	,	,	PUNCT
cblr-12479	124	30	and	and	CCONJ
cblr-12479	124	31	allocate	allocate	VERB
cblr-12479	124	32	control	control	NOUN
cblr-12479	124	33	rights	right	NOUN
cblr-12479	124	34	to	to	ADP
cblr-12479	124	35	that	that	DET
cblr-12479	124	36	party	party	NOUN
cblr-12479	124	37	ex	ex	X
cblr-12479	124	38	ante	ante	PROPN
cblr-12479	124	39	,	,	PUNCT
cblr-12479	124	40	avoiding	avoid	VERB
cblr-12479	124	41	potentially	potentially	ADV
cblr-12479	124	42	fruitless	fruitless	ADJ
cblr-12479	124	43	future	future	ADJ
cblr-12479	124	44	renegotiations	renegotiation	NOUN
cblr-12479	124	45	.	.	PUNCT
cblr-12479	125	1	despite	despite	SCONJ
cblr-12479	125	2	these	these	DET
cblr-12479	125	3	valuable	valuable	ADJ
cblr-12479	125	4	theoretical	theoretical	ADJ
cblr-12479	125	5	insights	insight	NOUN
cblr-12479	125	6	,	,	PUNCT
cblr-12479	125	7	the	the	DET
cblr-12479	125	8	extent	extent	NOUN
cblr-12479	125	9	to	to	PART
cblr-12479	125	10	which	which	PRON
cblr-12479	125	11	contingent	contingent	NOUN
cblr-12479	125	12	control	control	NOUN
cblr-12479	125	13	may	may	AUX
cblr-12479	125	14	support	support	VERB
cblr-12479	125	15	socially	socially	ADV
cblr-12479	125	16	efficient	efficient	ADJ
cblr-12479	125	17	agreements	agreement	NOUN
cblr-12479	125	18	in	in	ADP
cblr-12479	125	19	real	real	ADJ
cblr-12479	125	20	life	life	NOUN
cblr-12479	125	21	remained	remain	VERB
cblr-12479	125	22	undetermined	undetermined	ADJ
cblr-12479	125	23	for	for	ADP
cblr-12479	125	24	several	several	ADJ
cblr-12479	125	25	39	39	NUM
cblr-12479	125	26	philippe	philippe	PROPN
cblr-12479	125	27	aghion	aghion	NOUN
cblr-12479	125	28	&	&	CCONJ
cblr-12479	125	29	patrick	patrick	PROPN
cblr-12479	125	30	bolton	bolton	PROPN
cblr-12479	125	31	,	,	PUNCT
cblr-12479	125	32	an	an	DET
cblr-12479	125	33	incomplete	incomplete	ADJ
cblr-12479	125	34	contracts	contract	NOUN
cblr-12479	125	35	approach	approach	NOUN
cblr-12479	125	36	to	to	ADP
cblr-12479	125	37	financial	financial	ADJ
cblr-12479	125	38	contracting	contracting	NOUN
cblr-12479	126	1	,	,	PUNCT
cblr-12479	126	2	59	59	NUM
cblr-12479	126	3	rev	rev	X
cblr-12479	126	4	.	.	PROPN
cblr-12479	126	5	econ	econ	PROPN
cblr-12479	126	6	.	.	PUNCT
cblr-12479	126	7	stud	stud	PROPN
cblr-12479	126	8	.	.	PUNCT
cblr-12479	127	1	473	473	NUM
cblr-12479	127	2	(	(	PUNCT
cblr-12479	127	3	1992	1992	NUM
cblr-12479	127	4	)	)	PUNCT
cblr-12479	127	5	.	.	PUNCT
cblr-12479	128	1	to	to	PART
cblr-12479	128	2	be	be	AUX
cblr-12479	128	3	clear	clear	ADJ
cblr-12479	128	4	,	,	PUNCT
cblr-12479	128	5	at	at	ADP
cblr-12479	128	6	491–92	491–92	NOUN
cblr-12479	128	7	,	,	PUNCT
cblr-12479	128	8	they	they	PRON
cblr-12479	128	9	submit	submit	VERB
cblr-12479	128	10	that	that	SCONJ
cblr-12479	128	11	“	"	PUNCT
cblr-12479	128	12	it	it	PRON
cblr-12479	128	13	is	be	AUX
cblr-12479	128	14	always	always	ADV
cblr-12479	128	15	best	good	ADJ
cblr-12479	128	16	to	to	PART
cblr-12479	128	17	start	start	VERB
cblr-12479	128	18	first	first	ADV
cblr-12479	128	19	with	with	ADP
cblr-12479	128	20	entrepreneur	entrepreneur	NOUN
cblr-12479	128	21	control	control	NOUN
cblr-12479	128	22	if	if	SCONJ
cblr-12479	128	23	that	that	PRON
cblr-12479	128	24	is	be	AUX
cblr-12479	128	25	feasible	feasible	ADJ
cblr-12479	128	26	.	.	PUNCT
cblr-12479	129	1	if	if	SCONJ
cblr-12479	129	2	,	,	PUNCT
cblr-12479	129	3	however	however	ADV
cblr-12479	129	4	,	,	PUNCT
cblr-12479	129	5	entrepreneur	entrepreneur	NOUN
cblr-12479	129	6	control	control	NOUN
cblr-12479	129	7	does	do	AUX
cblr-12479	129	8	not	not	PART
cblr-12479	129	9	sufficiently	sufficiently	ADV
cblr-12479	129	10	protect	protect	VERB
cblr-12479	129	11	the	the	DET
cblr-12479	129	12	investor	investor	NOUN
cblr-12479	129	13	’s	’s	PART
cblr-12479	129	14	claims	claim	NOUN
cblr-12479	129	15	,	,	PUNCT
cblr-12479	129	16	one	one	PRON
cblr-12479	129	17	should	should	AUX
cblr-12479	129	18	go	go	VERB
cblr-12479	129	19	for	for	ADP
cblr-12479	129	20	contingent	contingent	ADJ
cblr-12479	129	21	control	control	NOUN
cblr-12479	129	22	.	.	PUNCT
cblr-12479	130	1	finally	finally	ADV
cblr-12479	130	2	,	,	PUNCT
cblr-12479	130	3	if	if	SCONJ
cblr-12479	130	4	that	that	PRON
cblr-12479	130	5	is	be	AUX
cblr-12479	130	6	still	still	ADV
cblr-12479	130	7	not	not	PART
cblr-12479	130	8	enough	enough	ADJ
cblr-12479	130	9	to	to	PART
cblr-12479	130	10	protect	protect	VERB
cblr-12479	130	11	the	the	DET
cblr-12479	130	12	investor	investor	NOUN
cblr-12479	130	13	’s	’s	PART
cblr-12479	130	14	interests	interest	NOUN
cblr-12479	130	15	,	,	PUNCT
cblr-12479	130	16	one	one	PRON
cblr-12479	130	17	wants	want	VERB
cblr-12479	130	18	to	to	PART
cblr-12479	130	19	give	give	VERB
cblr-12479	130	20	full	full	ADJ
cblr-12479	130	21	control	control	NOUN
cblr-12479	130	22	to	to	ADP
cblr-12479	130	23	the	the	DET
cblr-12479	130	24	investor	investor	NOUN
cblr-12479	130	25	.	.	PUNCT
cblr-12479	130	26	”	"	PUNCT
cblr-12479	131	1	i	i	PRON
cblr-12479	131	2	d.	d.	PROPN
cblr-12479	131	3	40	40	NUM
cblr-12479	131	4	see	see	VERB
cblr-12479	131	5	e.g.	e.g.	ADV
cblr-12479	131	6	,	,	PUNCT
cblr-12479	131	7	hellmann	hellmann	PROPN
cblr-12479	131	8	,	,	PUNCT
cblr-12479	131	9	supra	supra	PROPN
cblr-12479	131	10	note	note	PROPN
cblr-12479	131	11	11	11	NUM
cblr-12479	131	12	.	.	PUNCT
cblr-12479	132	1	for	for	ADP
cblr-12479	132	2	a	a	DET
cblr-12479	132	3	literature	literature	NOUN
cblr-12479	132	4	review	review	NOUN
cblr-12479	132	5	,	,	PUNCT
cblr-12479	132	6	see	see	VERB
cblr-12479	132	7	da	da	PROPN
cblr-12479	132	8	rin	rin	PROPN
cblr-12479	132	9	,	,	PUNCT
cblr-12479	132	10	hellmann	hellmann	PROPN
cblr-12479	132	11	&	&	CCONJ
cblr-12479	132	12	puri	puri	PROPN
cblr-12479	132	13	,	,	PUNCT
cblr-12479	132	14	supra	supra	PROPN
cblr-12479	132	15	note	note	NOUN
cblr-12479	132	16	9	9	NUM
cblr-12479	132	17	.	.	PUNCT
cblr-12479	133	1	no	no	INTJ
cblr-12479	133	2	.	.	NOUN
cblr-12479	134	1	2	2	NUM
cblr-12479	134	2	]	]	PUNCT
cblr-12479	134	3	the	the	DET
cblr-12479	134	4	law	law	NOUN
cblr-12479	134	5	of	of	ADP
cblr-12479	134	6	contingent	contingent	NOUN
cblr-12479	134	7	control	control	NOUN
cblr-12479	134	8	687	687	NUM
cblr-12479	134	9	years	year	NOUN
cblr-12479	134	10	,	,	PUNCT
cblr-12479	134	11	and	and	CCONJ
cblr-12479	134	12	a	a	DET
cblr-12479	134	13	key	key	ADJ
cblr-12479	134	14	question	question	NOUN
cblr-12479	134	15	,	,	PUNCT
cblr-12479	134	16	unanswered	unanswered	ADJ
cblr-12479	134	17	:	:	PUNCT
cblr-12479	134	18	is	be	AUX
cblr-12479	134	19	contingent	contingent	ADJ
cblr-12479	134	20	control	control	NOUN
cblr-12479	134	21	at	at	ADP
cblr-12479	134	22	all	all	ADV
cblr-12479	134	23	possible	possible	ADJ
cblr-12479	134	24	or	or	CCONJ
cblr-12479	134	25	useful	useful	ADJ
cblr-12479	134	26	for	for	ADP
cblr-12479	134	27	vc	vc	PROPN
cblr-12479	134	28	financing	financing	NOUN
cblr-12479	134	29	?	?	PUNCT
cblr-12479	135	1	steven	steven	PROPN
cblr-12479	135	2	kaplan	kaplan	PROPN
cblr-12479	135	3	and	and	CCONJ
cblr-12479	135	4	per	per	ADP
cblr-12479	135	5	strömberg	strömberg	NOUN
cblr-12479	135	6	sought	seek	VERB
cblr-12479	135	7	to	to	PART
cblr-12479	135	8	fill	fill	VERB
cblr-12479	135	9	this	this	DET
cblr-12479	135	10	gap	gap	NOUN
cblr-12479	135	11	by	by	ADP
cblr-12479	135	12	studying	study	VERB
cblr-12479	135	13	real	real	ADJ
cblr-12479	135	14	entrepreneur	entrepreneur	NOUN
cblr-12479	135	15	-	-	ADJ
cblr-12479	135	16	investor	investor	NOUN
cblr-12479	135	17	agreements	agreement	NOUN
cblr-12479	135	18	in	in	ADP
cblr-12479	135	19	the	the	DET
cblr-12479	135	20	u.s	u.s	PROPN
cblr-12479	135	21	.	.	PROPN
cblr-12479	135	22	,	,	PUNCT
cblr-12479	135	23	the	the	DET
cblr-12479	135	24	most	most	ADV
cblr-12479	135	25	developed	develop	VERB
cblr-12479	135	26	vc	vc	PROPN
cblr-12479	135	27	market.41	market.41	NOUN
cblr-12479	135	28	their	their	PRON
cblr-12479	135	29	paradigmatic	paradigmatic	ADJ
cblr-12479	135	30	empirical	empirical	ADJ
cblr-12479	135	31	study	study	NOUN
cblr-12479	135	32	shows	show	VERB
cblr-12479	135	33	how	how	SCONJ
cblr-12479	135	34	successful	successful	ADJ
cblr-12479	135	35	vc	vc	NOUN
cblr-12479	135	36	firms	firm	NOUN
cblr-12479	135	37	use	use	VERB
cblr-12479	135	38	contingent	contingent	NOUN
cblr-12479	135	39	control	control	NOUN
cblr-12479	135	40	allocation	allocation	NOUN
cblr-12479	135	41	—	—	PUNCT
cblr-12479	135	42	and	and	CCONJ
cblr-12479	135	43	complementary	complementary	ADJ
cblr-12479	135	44	contractual	contractual	ADJ
cblr-12479	135	45	terms	term	NOUN
cblr-12479	135	46	—	—	PUNCT
cblr-12479	135	47	to	to	PART
cblr-12479	135	48	overcome	overcome	VERB
cblr-12479	135	49	the	the	DET
cblr-12479	135	50	challenges	challenge	NOUN
cblr-12479	135	51	of	of	ADP
cblr-12479	135	52	financing	finance	VERB
cblr-12479	135	53	innovative	innovative	ADJ
cblr-12479	135	54	firms.42	firms.42	NOUN
cblr-12479	135	55	their	their	PRON
cblr-12479	135	56	reported	report	VERB
cblr-12479	135	57	evidence	evidence	NOUN
cblr-12479	135	58	offers	offer	VERB
cblr-12479	135	59	two	two	NUM
cblr-12479	135	60	fundamental	fundamental	ADJ
cblr-12479	135	61	lessons	lesson	NOUN
cblr-12479	135	62	on	on	ADP
cblr-12479	135	63	how	how	SCONJ
cblr-12479	135	64	the	the	DET
cblr-12479	135	65	strategic	strategic	ADJ
cblr-12479	135	66	allocation	allocation	NOUN
cblr-12479	135	67	of	of	ADP
cblr-12479	135	68	control	control	NOUN
cblr-12479	135	69	enables	enable	VERB
cblr-12479	135	70	financing	finance	VERB
cblr-12479	135	71	startups	startup	NOUN
cblr-12479	135	72	with	with	ADP
cblr-12479	135	73	vc	vc	PROPN
cblr-12479	135	74	in	in	ADP
cblr-12479	135	75	real	real	ADJ
cblr-12479	135	76	life	life	NOUN
cblr-12479	135	77	.	.	PUNCT
cblr-12479	136	1	first	first	ADV
cblr-12479	136	2	,	,	PUNCT
cblr-12479	136	3	vcs	vcs	PROPN
cblr-12479	136	4	always	always	ADV
cblr-12479	136	5	separate	separate	VERB
cblr-12479	136	6	cash	cash	NOUN
cblr-12479	136	7	flow	flow	NOUN
cblr-12479	136	8	from	from	ADP
cblr-12479	136	9	decision	decision	NOUN
cblr-12479	136	10	-	-	PUNCT
cblr-12479	136	11	making	making	NOUN
cblr-12479	136	12	(	(	PUNCT
cblr-12479	136	13	or	or	CCONJ
cblr-12479	136	14	control	control	NOUN
cblr-12479	136	15	)	)	PUNCT
cblr-12479	136	16	rights.43	rights.43	NOUN
cblr-12479	136	17	in	in	ADP
cblr-12479	136	18	other	other	ADJ
cblr-12479	136	19	words	word	NOUN
cblr-12479	136	20	,	,	PUNCT
cblr-12479	136	21	agreements	agreement	NOUN
cblr-12479	136	22	require	require	VERB
cblr-12479	136	23	a	a	DET
cblr-12479	136	24	substantive	substantive	ADJ
cblr-12479	136	25	deviation	deviation	NOUN
cblr-12479	136	26	from	from	ADP
cblr-12479	136	27	the	the	DET
cblr-12479	136	28	oneshare	oneshare	NOUN
cblr-12479	136	29	one	one	NUM
cblr-12479	136	30	-	-	PUNCT
cblr-12479	136	31	vote	vote	NOUN
cblr-12479	136	32	rule.44	rule.44	NOUN
cblr-12479	136	33	second	second	ADJ
cblr-12479	136	34	,	,	PUNCT
cblr-12479	136	35	the	the	DET
cblr-12479	136	36	allocation	allocation	NOUN
cblr-12479	136	37	and	and	CCONJ
cblr-12479	136	38	exercise	exercise	NOUN
cblr-12479	136	39	of	of	ADP
cblr-12479	136	40	control	control	NOUN
cblr-12479	136	41	rights	right	NOUN
cblr-12479	136	42	in	in	ADP
cblr-12479	136	43	vc	vc	NOUN
cblr-12479	136	44	-	-	PUNCT
cblr-12479	136	45	backed	back	VERB
cblr-12479	136	46	firms	firm	NOUN
cblr-12479	136	47	is	be	AUX
cblr-12479	136	48	contingent	contingent	ADJ
cblr-12479	136	49	on	on	ADP
cblr-12479	136	50	observable	observable	ADJ
cblr-12479	136	51	and	and	CCONJ
cblr-12479	136	52	verifiable	verifiable	ADJ
cblr-12479	136	53	measures	measure	NOUN
cblr-12479	136	54	of	of	ADP
cblr-12479	136	55	financial	financial	ADJ
cblr-12479	136	56	and	and	CCONJ
cblr-12479	136	57	non	non	ADJ
cblr-12479	136	58	-	-	ADJ
cblr-12479	136	59	financial	financial	ADJ
cblr-12479	136	60	performance	performance	NOUN
cblr-12479	136	61	,	,	PUNCT
cblr-12479	136	62	such	such	ADJ
cblr-12479	136	63	as	as	ADP
cblr-12479	136	64	company	company	NOUN
cblr-12479	136	65	valuation	valuation	NOUN
cblr-12479	136	66	in	in	ADP
cblr-12479	136	67	subsequent	subsequent	ADJ
cblr-12479	136	68	financing	financing	NOUN
cblr-12479	136	69	rounds.45	rounds.45	NOUN
cblr-12479	136	70	by	by	ADP
cblr-12479	136	71	attaching	attach	VERB
cblr-12479	136	72	control	control	NOUN
cblr-12479	136	73	allocation	allocation	NOUN
cblr-12479	136	74	to	to	ADP
cblr-12479	136	75	performance	performance	NOUN
cblr-12479	136	76	,	,	PUNCT
cblr-12479	136	77	they	they	PRON
cblr-12479	136	78	anticipate	anticipate	VERB
cblr-12479	136	79	which	which	DET
cblr-12479	136	80	party	party	NOUN
cblr-12479	136	81	might	might	AUX
cblr-12479	136	82	be	be	AUX
cblr-12479	136	83	more	more	ADV
cblr-12479	136	84	prone	prone	ADJ
cblr-12479	136	85	to	to	ADP
cblr-12479	136	86	moral	moral	ADJ
cblr-12479	136	87	hazard	hazard	NOUN
cblr-12479	136	88	and	and	CCONJ
cblr-12479	136	89	deprive	deprive	VERB
cblr-12479	136	90	them	they	PRON
cblr-12479	136	91	of	of	ADP
cblr-12479	136	92	decision	decision	NOUN
cblr-12479	136	93	-	-	PUNCT
cblr-12479	136	94	making	make	VERB
cblr-12479	136	95	authority	authority	NOUN
cblr-12479	136	96	ex	ex	X
cblr-12479	136	97	ante	ante	NOUN
cblr-12479	136	98	.	.	PUNCT
cblr-12479	137	1	in	in	ADP
cblr-12479	137	2	this	this	DET
cblr-12479	137	3	sense	sense	NOUN
cblr-12479	137	4	,	,	PUNCT
cblr-12479	137	5	their	their	PRON
cblr-12479	137	6	study	study	NOUN
cblr-12479	137	7	confirms	confirm	VERB
cblr-12479	137	8	aghion	aghion	NOUN
cblr-12479	137	9	and	and	CCONJ
cblr-12479	137	10	bolton	bolton	PROPN
cblr-12479	137	11	’s	’s	PART
cblr-12479	137	12	prediction	prediction	NOUN
cblr-12479	137	13	that	that	SCONJ
cblr-12479	137	14	,	,	PUNCT
cblr-12479	137	15	if	if	SCONJ
cblr-12479	137	16	allowed	allow	VERB
cblr-12479	137	17	,	,	PUNCT
cblr-12479	137	18	investors	investor	NOUN
cblr-12479	137	19	will	will	AUX
cblr-12479	137	20	seek	seek	VERB
cblr-12479	137	21	an	an	DET
cblr-12479	137	22	optimal	optimal	ADJ
cblr-12479	137	23	venture	venture	NOUN
cblr-12479	137	24	finance	finance	NOUN
cblr-12479	137	25	agreement	agreement	NOUN
cblr-12479	137	26	by	by	ADP
cblr-12479	137	27	allocating	allocate	VERB
cblr-12479	137	28	control	control	NOUN
cblr-12479	137	29	to	to	ADP
cblr-12479	137	30	different	different	ADJ
cblr-12479	137	31	participants	participant	NOUN
cblr-12479	137	32	at	at	ADP
cblr-12479	137	33	different	different	ADJ
cblr-12479	137	34	moments	moment	NOUN
cblr-12479	137	35	.	.	PUNCT
cblr-12479	138	1	unlike	unlike	ADP
cblr-12479	138	2	aghion	aghion	NOUN
cblr-12479	138	3	and	and	CCONJ
cblr-12479	138	4	bolton	bolton	PROPN
cblr-12479	138	5	,	,	PUNCT
cblr-12479	138	6	however	however	ADV
cblr-12479	138	7	,	,	PUNCT
cblr-12479	138	8	kaplan	kaplan	PROPN
cblr-12479	138	9	and	and	CCONJ
cblr-12479	138	10	strömberg	strömberg	PROPN
cblr-12479	138	11	find	find	VERB
cblr-12479	138	12	that	that	SCONJ
cblr-12479	138	13	real	real	ADJ
cblr-12479	138	14	-	-	PUNCT
cblr-12479	138	15	life	life	NOUN
cblr-12479	138	16	investors	investor	NOUN
cblr-12479	138	17	do	do	AUX
cblr-12479	138	18	not	not	PART
cblr-12479	138	19	always	always	ADV
cblr-12479	138	20	seek	seek	VERB
cblr-12479	138	21	control	control	NOUN
cblr-12479	138	22	when	when	SCONJ
cblr-12479	138	23	ruthless	ruthless	ADJ
cblr-12479	138	24	value	value	NOUN
cblr-12479	138	25	maximization	maximization	NOUN
cblr-12479	138	26	could	could	AUX
cblr-12479	138	27	be	be	AUX
cblr-12479	138	28	efficient	efficient	ADJ
cblr-12479	138	29	(	(	PUNCT
cblr-12479	138	30	e.g.	e.g.	ADV
cblr-12479	138	31	,	,	PUNCT
cblr-12479	138	32	when	when	SCONJ
cblr-12479	138	33	firms	firm	NOUN
cblr-12479	138	34	outperform	outperform	VERB
cblr-12479	138	35	and	and	CCONJ
cblr-12479	138	36	cash	cash	NOUN
cblr-12479	138	37	flows	flow	NOUN
cblr-12479	138	38	are	be	AUX
cblr-12479	138	39	more	more	ADV
cblr-12479	138	40	important	important	ADJ
cblr-12479	138	41	than	than	ADP
cblr-12479	138	42	private	private	ADJ
cblr-12479	138	43	benefits	benefit	NOUN
cblr-12479	138	44	)	)	PUNCT
cblr-12479	138	45	,	,	PUNCT
cblr-12479	138	46	but	but	CCONJ
cblr-12479	138	47	41	41	NUM
cblr-12479	138	48	see	see	VERB
cblr-12479	138	49	kaplan	kaplan	PROPN
cblr-12479	138	50	&	&	CCONJ
cblr-12479	138	51	strömberg	strömberg	PROPN
cblr-12479	138	52	,	,	PUNCT
cblr-12479	138	53	supra	supra	PROPN
cblr-12479	138	54	note	note	NOUN
cblr-12479	138	55	12	12	NUM
cblr-12479	138	56	.	.	PUNCT
cblr-12479	139	1	42	42	NUM
cblr-12479	140	1	i	i	PRON
cblr-12479	140	2	d.	d.	PROPN
cblr-12479	140	3	other	other	ADJ
cblr-12479	140	4	findings	finding	NOUN
cblr-12479	140	5	relate	relate	VERB
cblr-12479	140	6	to	to	ADP
cblr-12479	140	7	contingent	contingent	ADJ
cblr-12479	140	8	allocation	allocation	NOUN
cblr-12479	140	9	of	of	ADP
cblr-12479	140	10	cash	cash	NOUN
cblr-12479	140	11	-	-	PUNCT
cblr-12479	140	12	flow	flow	NOUN
cblr-12479	140	13	rights	right	NOUN
cblr-12479	140	14	and	and	CCONJ
cblr-12479	140	15	the	the	DET
cblr-12479	140	16	use	use	NOUN
cblr-12479	140	17	of	of	ADP
cblr-12479	140	18	non	non	ADJ
cblr-12479	140	19	-	-	ADJ
cblr-12479	140	20	compete	compete	ADJ
cblr-12479	140	21	clauses	clause	NOUN
cblr-12479	140	22	in	in	ADP
cblr-12479	140	23	financial	financial	ADJ
cblr-12479	140	24	contracts	contract	NOUN
cblr-12479	140	25	.	.	PUNCT
cblr-12479	141	1	43	43	NUM
cblr-12479	142	1	i	i	PRON
cblr-12479	142	2	d.	d.	VERB
cblr-12479	142	3	at	at	ADP
cblr-12479	142	4	295	295	NUM
cblr-12479	142	5	(	(	PUNCT
cblr-12479	142	6	noting	note	VERB
cblr-12479	142	7	that	that	SCONJ
cblr-12479	142	8	the	the	DET
cblr-12479	142	9	vc	vc	PROPN
cblr-12479	142	10	financings	financing	NOUN
cblr-12479	142	11	explored	explore	VERB
cblr-12479	142	12	in	in	ADP
cblr-12479	142	13	their	their	PRON
cblr-12479	142	14	study	study	NOUN
cblr-12479	142	15	“	"	PUNCT
cblr-12479	142	16	allow	allow	VERB
cblr-12479	142	17	vcs	vcs	PROPN
cblr-12479	142	18	to	to	PART
cblr-12479	142	19	separately	separately	ADV
cblr-12479	142	20	allocate	allocate	VERB
cblr-12479	142	21	cash	cash	NOUN
cblr-12479	142	22	flow	flow	NOUN
cblr-12479	142	23	rights	right	NOUN
cblr-12479	142	24	,	,	PUNCT
cblr-12479	142	25	board	board	NOUN
cblr-12479	142	26	rights	right	NOUN
cblr-12479	142	27	,	,	PUNCT
cblr-12479	142	28	voting	voting	NOUN
cblr-12479	142	29	rights	right	NOUN
cblr-12479	142	30	,	,	PUNCT
cblr-12479	142	31	liquidation	liquidation	NOUN
cblr-12479	142	32	rights	right	NOUN
cblr-12479	142	33	,	,	PUNCT
cblr-12479	142	34	and	and	CCONJ
cblr-12479	142	35	other	other	ADJ
cblr-12479	142	36	control	control	NOUN
cblr-12479	142	37	rights	right	NOUN
cblr-12479	142	38	.	.	PUNCT
cblr-12479	142	39	”	"	PUNCT
cblr-12479	142	40	)	)	PUNCT
cblr-12479	142	41	.	.	PUNCT
cblr-12479	143	1	44	44	NUM
cblr-12479	143	2	for	for	ADP
cblr-12479	143	3	a	a	DET
cblr-12479	143	4	comparative	comparative	ADJ
cblr-12479	143	5	examination	examination	NOUN
cblr-12479	143	6	of	of	ADP
cblr-12479	143	7	this	this	DET
cblr-12479	143	8	rule	rule	NOUN
cblr-12479	143	9	,	,	PUNCT
cblr-12479	143	10	see	see	VERB
cblr-12479	143	11	infra	infra	NOUN
cblr-12479	143	12	section	section	NOUN
cblr-12479	143	13	iii.a	iii.a	PROPN
cblr-12479	143	14	.	.	PROPN
cblr-12479	144	1	45	45	NUM
cblr-12479	144	2	kaplan	kaplan	PROPN
cblr-12479	144	3	&	&	CCONJ
cblr-12479	144	4	strömberg	strömberg	PROPN
cblr-12479	144	5	,	,	PUNCT
cblr-12479	144	6	supra	supra	PROPN
cblr-12479	144	7	note	note	NOUN
cblr-12479	144	8	12	12	NUM
cblr-12479	144	9	,	,	PUNCT
cblr-12479	144	10	at	at	ADP
cblr-12479	144	11	294	294	NUM
cblr-12479	144	12	(	(	PUNCT
cblr-12479	144	13	“	"	PUNCT
cblr-12479	144	14	[	[	X
cblr-12479	144	15	c]ontrol	c]ontrol	NOUN
cblr-12479	144	16	rights	right	NOUN
cblr-12479	144	17	are	be	AUX
cblr-12479	144	18	contingent	contingent	ADJ
cblr-12479	144	19	on	on	ADP
cblr-12479	144	20	subsequent	subsequent	ADJ
cblr-12479	144	21	measures	measure	NOUN
cblr-12479	144	22	of	of	ADP
cblr-12479	144	23	financial	financial	ADJ
cblr-12479	144	24	performance	performance	NOUN
cblr-12479	144	25	,	,	PUNCT
cblr-12479	144	26	non	non	ADJ
cblr-12479	144	27	-	-	ADJ
cblr-12479	144	28	financial	financial	ADJ
cblr-12479	144	29	performance	performance	NOUN
cblr-12479	144	30	,	,	PUNCT
cblr-12479	144	31	and	and	CCONJ
cblr-12479	144	32	actions	action	NOUN
cblr-12479	144	33	.	.	PUNCT
cblr-12479	144	34	”	"	PUNCT
cblr-12479	144	35	)	)	PUNCT
cblr-12479	144	36	688	688	NUM
cblr-12479	144	37	columbia	columbia	PROPN
cblr-12479	144	38	business	business	NOUN
cblr-12479	144	39	law	law	NOUN
cblr-12479	144	40	review	review	NOUN
cblr-12479	144	41	[	[	X
cblr-12479	144	42	vol	vol	NOUN
cblr-12479	144	43	.	.	PUNCT
cblr-12479	144	44	2023	2023	NUM
cblr-12479	144	45	often	often	ADV
cblr-12479	144	46	relinquish	relinquish	VERB
cblr-12479	144	47	it	it	PRON
cblr-12479	144	48	to	to	ADP
cblr-12479	144	49	entrepreneurs	entrepreneur	NOUN
cblr-12479	144	50	in	in	ADP
cblr-12479	144	51	those	those	DET
cblr-12479	144	52	instances.46	instances.46	NOUN
cblr-12479	144	53	this	this	DET
cblr-12479	144	54	evidence	evidence	NOUN
cblr-12479	144	55	further	far	ADV
cblr-12479	144	56	suggests	suggest	VERB
cblr-12479	144	57	that	that	SCONJ
cblr-12479	144	58	investors	investor	NOUN
cblr-12479	144	59	make	make	VERB
cblr-12479	144	60	ex	ex	PRON
cblr-12479	144	61	ante	ante	NOUN
cblr-12479	144	62	considerations	consideration	NOUN
cblr-12479	144	63	of	of	ADP
cblr-12479	144	64	efforts	effort	NOUN
cblr-12479	144	65	,	,	PUNCT
cblr-12479	144	66	in	in	ADP
cblr-12479	144	67	light	light	NOUN
cblr-12479	144	68	of	of	ADP
cblr-12479	144	69	which	which	PRON
cblr-12479	144	70	entrepreneurs	entrepreneur	NOUN
cblr-12479	144	71	are	be	AUX
cblr-12479	144	72	rewarded.47	rewarded.47	NOUN
cblr-12479	144	73	the	the	DET
cblr-12479	144	74	nature	nature	NOUN
cblr-12479	144	75	of	of	ADP
cblr-12479	144	76	the	the	DET
cblr-12479	144	77	evidence	evidence	NOUN
cblr-12479	144	78	reported	report	VERB
cblr-12479	144	79	by	by	ADP
cblr-12479	144	80	kaplan	kaplan	PROPN
cblr-12479	144	81	and	and	CCONJ
cblr-12479	144	82	strömberg	strömberg	PROPN
cblr-12479	144	83	in	in	ADP
cblr-12479	144	84	the	the	DET
cblr-12479	144	85	cited	cite	VERB
cblr-12479	144	86	paper	paper	NOUN
cblr-12479	144	87	is	be	AUX
cblr-12479	144	88	not	not	PART
cblr-12479	144	89	only	only	ADV
cblr-12479	144	90	relevant	relevant	ADJ
cblr-12479	144	91	for	for	ADP
cblr-12479	144	92	financial	financial	ADJ
cblr-12479	144	93	contracting	contracting	NOUN
cblr-12479	144	94	scholarship	scholarship	NOUN
cblr-12479	144	95	,	,	PUNCT
cblr-12479	144	96	but	but	CCONJ
cblr-12479	144	97	also	also	ADV
cblr-12479	144	98	insightful	insightful	ADJ
cblr-12479	144	99	to	to	ADP
cblr-12479	144	100	understanding	understand	VERB
cblr-12479	144	101	the	the	DET
cblr-12479	144	102	legal	legal	ADJ
cblr-12479	144	103	structure	structure	NOUN
cblr-12479	144	104	of	of	ADP
cblr-12479	144	105	contingent	contingent	ADJ
cblr-12479	144	106	control	control	NOUN
cblr-12479	144	107	in	in	ADP
cblr-12479	144	108	vc	vc	PROPN
cblr-12479	144	109	.	.	PUNCT
cblr-12479	145	1	first	first	ADV
cblr-12479	145	2	,	,	PUNCT
cblr-12479	145	3	their	their	PRON
cblr-12479	145	4	sample	sample	NOUN
cblr-12479	145	5	is	be	AUX
cblr-12479	145	6	modestly	modestly	ADV
cblr-12479	145	7	“	"	PUNCT
cblr-12479	145	8	biased	biased	ADJ
cblr-12479	145	9	towards	towards	ADP
cblr-12479	145	10	successful	successful	ADJ
cblr-12479	145	11	investments	investment	NOUN
cblr-12479	145	12	”	"	PUNCT
cblr-12479	145	13	and	and	CCONJ
cblr-12479	145	14	firms	firm	NOUN
cblr-12479	145	15	,	,	PUNCT
cblr-12479	145	16	providing	provide	VERB
cblr-12479	145	17	a	a	DET
cblr-12479	145	18	unique	unique	ADJ
cblr-12479	145	19	perspective	perspective	NOUN
cblr-12479	145	20	of	of	ADP
cblr-12479	145	21	the	the	DET
cblr-12479	145	22	legal	legal	ADJ
cblr-12479	145	23	instruments	instrument	NOUN
cblr-12479	145	24	used	use	VERB
cblr-12479	145	25	by	by	ADP
cblr-12479	145	26	some	some	PRON
cblr-12479	145	27	of	of	ADP
cblr-12479	145	28	the	the	DET
cblr-12479	145	29	most	most	ADV
cblr-12479	145	30	experienced	experienced	ADJ
cblr-12479	145	31	investors	investor	NOUN
cblr-12479	145	32	to	to	PART
cblr-12479	145	33	resolve	resolve	VERB
cblr-12479	145	34	key	key	ADJ
cblr-12479	145	35	issues	issue	NOUN
cblr-12479	145	36	in	in	ADP
cblr-12479	145	37	venture	venture	NOUN
cblr-12479	145	38	finance.48	finance.48	PROPN
cblr-12479	145	39	secondly	secondly	ADV
cblr-12479	145	40	,	,	PUNCT
cblr-12479	145	41	their	their	PRON
cblr-12479	145	42	study	study	NOUN
cblr-12479	145	43	identifies	identify	VERB
cblr-12479	145	44	the	the	DET
cblr-12479	145	45	recurrent	recurrent	ADJ
cblr-12479	145	46	use	use	NOUN
cblr-12479	145	47	of	of	ADP
cblr-12479	145	48	various	various	ADJ
cblr-12479	145	49	types	type	NOUN
cblr-12479	145	50	of	of	ADP
cblr-12479	145	51	securities	security	NOUN
cblr-12479	145	52	—	—	PUNCT
cblr-12479	145	53	in	in	ADP
cblr-12479	145	54	particular	particular	ADJ
cblr-12479	145	55	,	,	PUNCT
cblr-12479	145	56	bespoke	bespoke	NOUN
cblr-12479	145	57	securities	security	NOUN
cblr-12479	145	58	,	,	PUNCT
cblr-12479	145	59	such	such	ADJ
cblr-12479	145	60	as	as	ADP
cblr-12479	145	61	convertible	convertible	ADJ
cblr-12479	145	62	-	-	PUNCT
cblr-12479	145	63	preferred	prefer	VERB
cblr-12479	145	64	stock	stock	NOUN
cblr-12479	145	65	—	—	PUNCT
cblr-12479	145	66	and	and	CCONJ
cblr-12479	145	67	private	private	ADJ
cblr-12479	145	68	agreements	agreement	NOUN
cblr-12479	145	69	to	to	PART
cblr-12479	145	70	structure	structure	VERB
cblr-12479	145	71	contingent	contingent	ADJ
cblr-12479	145	72	control.49	control.49	NOUN
cblr-12479	145	73	in	in	ADP
cblr-12479	145	74	a	a	DET
cblr-12479	145	75	nutshell	nutshell	NOUN
cblr-12479	145	76	,	,	PUNCT
cblr-12479	145	77	they	they	PRON
cblr-12479	145	78	show	show	VERB
cblr-12479	145	79	how	how	SCONJ
cblr-12479	145	80	the	the	DET
cblr-12479	145	81	most	most	ADV
cblr-12479	145	82	sophisticated	sophisticated	ADJ
cblr-12479	145	83	parties	party	NOUN
cblr-12479	145	84	,	,	PUNCT
cblr-12479	145	85	in	in	ADP
cblr-12479	145	86	the	the	DET
cblr-12479	145	87	most	most	ADV
cblr-12479	145	88	mature	mature	ADJ
cblr-12479	145	89	vc	vc	NOUN
cblr-12479	145	90	market	market	NOUN
cblr-12479	145	91	,	,	PUNCT
cblr-12479	145	92	structure	structure	NOUN
cblr-12479	145	93	contingent	contingent	NOUN
cblr-12479	145	94	control	control	NOUN
cblr-12479	145	95	through	through	ADP
cblr-12479	145	96	customized	customized	ADJ
cblr-12479	145	97	securities	security	NOUN
cblr-12479	145	98	and	and	CCONJ
cblr-12479	145	99	private	private	ADJ
cblr-12479	145	100	agreements	agreement	NOUN
cblr-12479	145	101	,	,	PUNCT
cblr-12479	145	102	which	which	PRON
cblr-12479	145	103	is	be	AUX
cblr-12479	145	104	consistent	consistent	ADJ
cblr-12479	145	105	with	with	ADP
cblr-12479	145	106	findings	finding	NOUN
cblr-12479	145	107	in	in	ADP
cblr-12479	145	108	similar	similar	ADJ
cblr-12479	145	109	studies.50	studies.50	NOUN
cblr-12479	145	110	whilst	whilst	SCONJ
cblr-12479	145	111	these	these	DET
cblr-12479	145	112	theoretical	theoretical	ADJ
cblr-12479	145	113	and	and	CCONJ
cblr-12479	145	114	empirical	empirical	ADJ
cblr-12479	145	115	financial	financial	ADJ
cblr-12479	145	116	contracting	contracting	NOUN
cblr-12479	145	117	studies	study	NOUN
cblr-12479	145	118	identified	identify	VERB
cblr-12479	145	119	the	the	DET
cblr-12479	145	120	use	use	NOUN
cblr-12479	145	121	of	of	ADP
cblr-12479	145	122	bespoke	bespoke	NOUN
cblr-12479	145	123	securities	security	NOUN
cblr-12479	145	124	and	and	CCONJ
cblr-12479	145	125	private	private	ADJ
cblr-12479	145	126	agreements	agreement	NOUN
cblr-12479	145	127	to	to	PART
cblr-12479	145	128	structure	structure	VERB
cblr-12479	145	129	contingent	contingent	NOUN
cblr-12479	145	130	control	control	NOUN
cblr-12479	145	131	,	,	PUNCT
cblr-12479	145	132	a	a	DET
cblr-12479	145	133	pressing	pressing	ADJ
cblr-12479	145	134	question	question	NOUN
cblr-12479	145	135	still	still	ADV
cblr-12479	145	136	lacks	lack	VERB
cblr-12479	145	137	a	a	DET
cblr-12479	145	138	conclusive	conclusive	ADJ
cblr-12479	145	139	answer	answer	NOUN
cblr-12479	145	140	:	:	PUNCT
cblr-12479	145	141	why	why	SCONJ
cblr-12479	145	142	do	do	AUX
cblr-12479	145	143	46	46	NUM
cblr-12479	145	144	kaplan	kaplan	PROPN
cblr-12479	145	145	&	&	CCONJ
cblr-12479	145	146	strömberg	strömberg	PROPN
cblr-12479	145	147	,	,	PUNCT
cblr-12479	145	148	supra	supra	PROPN
cblr-12479	145	149	note	note	NOUN
cblr-12479	145	150	12	12	NUM
cblr-12479	145	151	,	,	PUNCT
cblr-12479	145	152	at	at	ADP
cblr-12479	145	153	295	295	NUM
cblr-12479	145	154	(	(	PUNCT
cblr-12479	145	155	“	"	PUNCT
cblr-12479	145	156	[	[	X
cblr-12479	145	157	r]ights	r]ight	NOUN
cblr-12479	145	158	are	be	AUX
cblr-12479	145	159	allocated	allocate	VERB
cblr-12479	145	160	such	such	ADJ
cblr-12479	145	161	that	that	PRON
cblr-12479	145	162	.	.	PUNCT
cblr-12479	145	163	.	.	PUNCT
cblr-12479	145	164	.	.	PUNCT
cblr-12479	146	1	[	[	X
cblr-12479	146	2	i]f	i]f	ADP
cblr-12479	146	3	the	the	DET
cblr-12479	146	4	company	company	NOUN
cblr-12479	146	5	performs	perform	VERB
cblr-12479	146	6	very	very	ADV
cblr-12479	146	7	well	well	ADV
cblr-12479	146	8	,	,	PUNCT
cblr-12479	146	9	the	the	DET
cblr-12479	146	10	vcs	vcs	PROPN
cblr-12479	146	11	relinquish	relinquish	VERB
cblr-12479	146	12	most	most	ADJ
cblr-12479	146	13	of	of	ADP
cblr-12479	146	14	their	their	PRON
cblr-12479	146	15	control	control	NOUN
cblr-12479	146	16	.	.	PUNCT
cblr-12479	146	17	.	.	PUNCT
cblr-12479	146	18	.	.	PUNCT
cblr-12479	146	19	.	.	PUNCT
cblr-12479	146	20	”	"	PUNCT
cblr-12479	146	21	)	)	PUNCT
cblr-12479	146	22	.	.	PUNCT
cblr-12479	147	1	47	47	NUM
cblr-12479	147	2	it	it	PRON
cblr-12479	147	3	thus	thus	ADV
cblr-12479	147	4	confirms	confirm	VERB
cblr-12479	147	5	theoretical	theoretical	ADJ
cblr-12479	147	6	models	model	NOUN
cblr-12479	147	7	of	of	ADP
cblr-12479	147	8	contingent	contingent	ADJ
cblr-12479	147	9	control	control	NOUN
cblr-12479	147	10	(	(	PUNCT
cblr-12479	147	11	not	not	PART
cblr-12479	147	12	of	of	ADP
cblr-12479	147	13	cash	cash	NOUN
cblr-12479	147	14	flow	flow	NOUN
cblr-12479	147	15	allocation	allocation	NOUN
cblr-12479	147	16	)	)	PUNCT
cblr-12479	147	17	of	of	ADP
cblr-12479	147	18	berglöf	berglöf	NOUN
cblr-12479	147	19	,	,	PUNCT
cblr-12479	147	20	supra	supra	PROPN
cblr-12479	147	21	note	note	PROPN
cblr-12479	147	22	11	11	NUM
cblr-12479	147	23	and	and	CCONJ
cblr-12479	147	24	of	of	ADP
cblr-12479	147	25	klaus	klaus	PROPN
cblr-12479	147	26	m.	m.	PROPN
cblr-12479	147	27	schmidt	schmidt	PROPN
cblr-12479	147	28	,	,	PUNCT
cblr-12479	147	29	convertible	convertible	ADJ
cblr-12479	147	30	securities	security	NOUN
cblr-12479	147	31	and	and	CCONJ
cblr-12479	147	32	venture	venture	NOUN
cblr-12479	147	33	capital	capital	NOUN
cblr-12479	147	34	finance	finance	NOUN
cblr-12479	147	35	,	,	PUNCT
cblr-12479	147	36	58	58	NUM
cblr-12479	147	37	j.	j.	PROPN
cblr-12479	147	38	fin	fin	PROPN
cblr-12479	147	39	.	.	PUNCT
cblr-12479	148	1	1139	1139	NUM
cblr-12479	148	2	(	(	PUNCT
cblr-12479	148	3	2003	2003	NUM
cblr-12479	148	4	)	)	PUNCT
cblr-12479	148	5	.	.	PUNCT
cblr-12479	149	1	48	48	NUM
cblr-12479	149	2	indeed	indeed	ADV
cblr-12479	149	3	,	,	PUNCT
cblr-12479	149	4	despite	despite	SCONJ
cblr-12479	149	5	controlling	control	VERB
cblr-12479	149	6	for	for	ADP
cblr-12479	149	7	differences	difference	NOUN
cblr-12479	149	8	among	among	ADP
cblr-12479	149	9	vc	vc	PROPN
cblr-12479	149	10	partnerships	partnership	NOUN
cblr-12479	149	11	,	,	PUNCT
cblr-12479	149	12	the	the	DET
cblr-12479	149	13	authors	author	NOUN
cblr-12479	149	14	acknowledge	acknowledge	VERB
cblr-12479	149	15	the	the	DET
cblr-12479	149	16	likelihood	likelihood	NOUN
cblr-12479	149	17	of	of	ADP
cblr-12479	149	18	a	a	DET
cblr-12479	149	19	bias	bias	NOUN
cblr-12479	149	20	,	,	PUNCT
cblr-12479	149	21	grounded	ground	VERB
cblr-12479	149	22	in	in	ADP
cblr-12479	149	23	the	the	DET
cblr-12479	149	24	fact	fact	NOUN
cblr-12479	149	25	that	that	SCONJ
cblr-12479	149	26	rates	rate	NOUN
cblr-12479	149	27	of	of	ADP
cblr-12479	149	28	ipo	ipo	NOUN
cblr-12479	149	29	where	where	SCONJ
cblr-12479	149	30	higher	high	ADJ
cblr-12479	149	31	in	in	ADP
cblr-12479	149	32	the	the	DET
cblr-12479	149	33	studied	studied	ADJ
cblr-12479	149	34	period	period	NOUN
cblr-12479	149	35	,	,	PUNCT
cblr-12479	149	36	that	that	SCONJ
cblr-12479	149	37	the	the	DET
cblr-12479	149	38	selected	select	VERB
cblr-12479	149	39	investments	investment	NOUN
cblr-12479	149	40	provided	provide	VERB
cblr-12479	149	41	returns	return	NOUN
cblr-12479	149	42	above	above	ADP
cblr-12479	149	43	the	the	DET
cblr-12479	149	44	market	market	NOUN
cblr-12479	149	45	,	,	PUNCT
cblr-12479	149	46	and	and	CCONJ
cblr-12479	149	47	that	that	SCONJ
cblr-12479	149	48	the	the	DET
cblr-12479	149	49	vc	vc	PROPN
cblr-12479	149	50	firms	firm	NOUN
cblr-12479	149	51	participating	participate	VERB
cblr-12479	149	52	in	in	ADP
cblr-12479	149	53	it	it	PRON
cblr-12479	149	54	were	be	AUX
cblr-12479	149	55	above	above	ADP
cblr-12479	149	56	average	average	ADJ
cblr-12479	149	57	.	.	PUNCT
cblr-12479	150	1	kaplan	kaplan	PROPN
cblr-12479	150	2	&	&	CCONJ
cblr-12479	150	3	strömberg	strömberg	PROPN
cblr-12479	150	4	,	,	PUNCT
cblr-12479	150	5	supra	supra	PROPN
cblr-12479	150	6	note	note	NOUN
cblr-12479	150	7	12	12	NUM
cblr-12479	150	8	at	at	ADP
cblr-12479	150	9	283	283	NUM
cblr-12479	150	10	,	,	PUNCT
cblr-12479	150	11	285	285	NUM
cblr-12479	150	12	.	.	PUNCT
cblr-12479	150	13	49	49	NUM
cblr-12479	151	1	i	i	PRON
cblr-12479	151	2	d.	d.	PROPN
cblr-12479	151	3	at	at	ADP
cblr-12479	151	4	286	286	NUM
cblr-12479	151	5	.	.	PUNCT
cblr-12479	152	1	50	50	NUM
cblr-12479	152	2	see	see	NOUN
cblr-12479	152	3	,	,	PUNCT
cblr-12479	152	4	e.g.	e.g.	ADV
cblr-12479	152	5	,	,	PUNCT
cblr-12479	152	6	hellmann	hellmann	PROPN
cblr-12479	152	7	&	&	CCONJ
cblr-12479	152	8	puri	puri	PROPN
cblr-12479	152	9	,	,	PUNCT
cblr-12479	152	10	supra	supra	PROPN
cblr-12479	152	11	note	note	PROPN
cblr-12479	152	12	6	6	NUM
cblr-12479	152	13	;	;	PUNCT
cblr-12479	152	14	douglas	douglas	PROPN
cblr-12479	152	15	j.	j.	PROPN
cblr-12479	152	16	cumming	cumming	PROPN
cblr-12479	152	17	,	,	PUNCT
cblr-12479	152	18	capital	capital	NOUN
cblr-12479	152	19	structure	structure	NOUN
cblr-12479	152	20	in	in	ADP
cblr-12479	152	21	venture	venture	NOUN
cblr-12479	152	22	finance	finance	NOUN
cblr-12479	152	23	,	,	PUNCT
cblr-12479	152	24	11	11	NUM
cblr-12479	152	25	j.	j.	PROPN
cblr-12479	152	26	corp	corp	PROPN
cblr-12479	152	27	.	.	PROPN
cblr-12479	153	1	fin	fin	PROPN
cblr-12479	153	2	.	.	PUNCT
cblr-12479	154	1	550	550	NUM
cblr-12479	154	2	(	(	PUNCT
cblr-12479	154	3	2005	2005	NUM
cblr-12479	154	4	)	)	PUNCT
cblr-12479	154	5	.	.	PUNCT
cblr-12479	155	1	no	no	INTJ
cblr-12479	155	2	.	.	NOUN
cblr-12479	156	1	2	2	NUM
cblr-12479	156	2	]	]	PUNCT
cblr-12479	156	3	the	the	DET
cblr-12479	156	4	law	law	NOUN
cblr-12479	156	5	of	of	ADP
cblr-12479	156	6	contingent	contingent	NOUN
cblr-12479	156	7	control	control	NOUN
cblr-12479	156	8	689	689	NUM
cblr-12479	156	9	specific	specific	ADJ
cblr-12479	156	10	legal	legal	ADJ
cblr-12479	156	11	instruments	instrument	NOUN
cblr-12479	156	12	(	(	PUNCT
cblr-12479	156	13	e.g.	e.g.	ADV
cblr-12479	156	14	,	,	PUNCT
cblr-12479	156	15	convertible	convertible	ADJ
cblr-12479	156	16	-	-	PUNCT
cblr-12479	156	17	preferred	prefer	VERB
cblr-12479	156	18	stock	stock	NOUN
cblr-12479	156	19	)	)	PUNCT
cblr-12479	156	20	prevail	prevail	VERB
cblr-12479	156	21	in	in	ADP
cblr-12479	156	22	some	some	DET
cblr-12479	156	23	jurisdictions	jurisdiction	NOUN
cblr-12479	156	24	and	and	CCONJ
cblr-12479	156	25	not	not	PART
cblr-12479	156	26	in	in	ADP
cblr-12479	156	27	others	other	NOUN
cblr-12479	156	28	?	?	PUNCT
cblr-12479	157	1	three	three	NUM
cblr-12479	157	2	sets	set	NOUN
cblr-12479	157	3	of	of	ADP
cblr-12479	157	4	accounts	account	NOUN
cblr-12479	157	5	are	be	AUX
cblr-12479	157	6	salient	salient	ADJ
cblr-12479	157	7	in	in	ADP
cblr-12479	157	8	the	the	DET
cblr-12479	157	9	literature.51	literature.51	NOUN
cblr-12479	157	10	first	first	ADV
cblr-12479	157	11	,	,	PUNCT
cblr-12479	157	12	an	an	DET
cblr-12479	157	13	agency	agency	NOUN
cblr-12479	157	14	cost	cost	NOUN
cblr-12479	157	15	explanation	explanation	NOUN
cblr-12479	157	16	.	.	PUNCT
cblr-12479	158	1	in	in	ADP
cblr-12479	158	2	line	line	NOUN
cblr-12479	158	3	with	with	ADP
cblr-12479	158	4	aghion	aghion	NOUN
cblr-12479	158	5	and	and	CCONJ
cblr-12479	158	6	bolton	bolton	PROPN
cblr-12479	158	7	’s	’s	PART
cblr-12479	158	8	tradition	tradition	NOUN
cblr-12479	158	9	,	,	PUNCT
cblr-12479	158	10	it	it	PRON
cblr-12479	158	11	purports	purport	VERB
cblr-12479	158	12	that	that	SCONJ
cblr-12479	158	13	the	the	DET
cblr-12479	158	14	types	type	NOUN
cblr-12479	158	15	of	of	ADP
cblr-12479	158	16	securities	security	NOUN
cblr-12479	158	17	and	and	CCONJ
cblr-12479	158	18	agreements	agreement	NOUN
cblr-12479	158	19	used	use	VERB
cblr-12479	158	20	in	in	ADP
cblr-12479	158	21	different	different	ADJ
cblr-12479	158	22	venture	venture	NOUN
cblr-12479	158	23	deals	deal	NOUN
cblr-12479	158	24	reflect	reflect	VERB
cblr-12479	158	25	parties	party	NOUN
cblr-12479	158	26	’	'	PUNCT
cblr-12479	158	27	expected	expect	VERB
cblr-12479	158	28	agency	agency	NOUN
cblr-12479	158	29	problems.52	problems.52	PROPN
cblr-12479	158	30	a	a	DET
cblr-12479	158	31	voluminous	voluminous	ADJ
cblr-12479	158	32	empirical	empirical	ADJ
cblr-12479	158	33	literature	literature	NOUN
cblr-12479	158	34	has	have	AUX
cblr-12479	158	35	concluded	conclude	VERB
cblr-12479	158	36	that	that	SCONJ
cblr-12479	158	37	a	a	DET
cblr-12479	158	38	combination	combination	NOUN
cblr-12479	158	39	of	of	ADP
cblr-12479	158	40	traditional	traditional	ADJ
cblr-12479	158	41	and	and	CCONJ
cblr-12479	158	42	bespoke	bespoke	ADJ
cblr-12479	158	43	convertible	convertible	ADJ
cblr-12479	158	44	securities	security	NOUN
cblr-12479	158	45	contributes	contribute	VERB
cblr-12479	158	46	to	to	ADP
cblr-12479	158	47	mitigating	mitigate	VERB
cblr-12479	158	48	agency	agency	NOUN
cblr-12479	158	49	problems	problem	NOUN
cblr-12479	158	50	and	and	CCONJ
cblr-12479	158	51	preserving	preserve	VERB
cblr-12479	158	52	the	the	DET
cblr-12479	158	53	right	right	ADJ
cblr-12479	158	54	incentives	incentive	NOUN
cblr-12479	158	55	over	over	ADP
cblr-12479	158	56	time.53	time.53	NOUN
cblr-12479	158	57	the	the	DET
cblr-12479	158	58	differences	difference	NOUN
cblr-12479	158	59	between	between	ADP
cblr-12479	158	60	the	the	DET
cblr-12479	158	61	mix	mix	NOUN
cblr-12479	158	62	of	of	ADP
cblr-12479	158	63	securities	security	NOUN
cblr-12479	158	64	observed	observe	VERB
cblr-12479	158	65	across	across	ADP
cblr-12479	158	66	jurisdictions	jurisdiction	NOUN
cblr-12479	158	67	would	would	AUX
cblr-12479	158	68	,	,	PUNCT
cblr-12479	158	69	thus	thus	ADV
cblr-12479	158	70	,	,	PUNCT
cblr-12479	158	71	be	be	AUX
cblr-12479	158	72	explained	explain	VERB
cblr-12479	158	73	by	by	ADP
cblr-12479	158	74	differences	difference	NOUN
cblr-12479	158	75	in	in	ADP
cblr-12479	158	76	the	the	DET
cblr-12479	158	77	characteristics	characteristic	NOUN
cblr-12479	158	78	of	of	ADP
cblr-12479	158	79	participants	participant	NOUN
cblr-12479	158	80	(	(	PUNCT
cblr-12479	158	81	e.g.	e.g.	ADV
cblr-12479	158	82	,	,	PUNCT
cblr-12479	158	83	entrepreneurs	entrepreneur	NOUN
cblr-12479	158	84	’	'	PUNCT
cblr-12479	158	85	experience	experience	NOUN
cblr-12479	158	86	,	,	PUNCT
cblr-12479	158	87	investor	investor	NOUN
cblr-12479	158	88	sophistication	sophistication	NOUN
cblr-12479	158	89	)	)	PUNCT
cblr-12479	158	90	and	and	CCONJ
cblr-12479	158	91	deals	deal	NOUN
cblr-12479	158	92	(	(	PUNCT
cblr-12479	158	93	e.g.	e.g.	ADV
cblr-12479	158	94	,	,	PUNCT
cblr-12479	158	95	early	early	ADJ
cblr-12479	158	96	stage	stage	NOUN
cblr-12479	158	97	,	,	PUNCT
cblr-12479	158	98	buyout	buyout	NOUN
cblr-12479	158	99	)	)	PUNCT
cblr-12479	158	100	that	that	PRON
cblr-12479	158	101	influence	influence	NOUN
cblr-12479	158	102	expected	expect	VERB
cblr-12479	158	103	agency	agency	NOUN
cblr-12479	158	104	costs	cost	NOUN
cblr-12479	158	105	and	and	CCONJ
cblr-12479	158	106	the	the	DET
cblr-12479	158	107	private	private	ADJ
cblr-12479	158	108	ordering	ordering	NOUN
cblr-12479	158	109	solutions	solution	NOUN
cblr-12479	158	110	devised	devise	VERB
cblr-12479	158	111	to	to	PART
cblr-12479	158	112	mitigate	mitigate	VERB
cblr-12479	158	113	them.54	them.54	PROPN
cblr-12479	158	114	second	second	ADJ
cblr-12479	158	115	,	,	PUNCT
cblr-12479	158	116	a	a	DET
cblr-12479	158	117	tax	tax	NOUN
cblr-12479	158	118	explanation	explanation	NOUN
cblr-12479	158	119	.	.	PUNCT
cblr-12479	159	1	gilson	gilson	PROPN
cblr-12479	159	2	and	and	CCONJ
cblr-12479	159	3	schizer	schizer	NOUN
cblr-12479	159	4	compared	compare	VERB
cblr-12479	159	5	financial	financial	ADJ
cblr-12479	159	6	contracting	contracting	NOUN
cblr-12479	159	7	trends	trend	NOUN
cblr-12479	159	8	in	in	ADP
cblr-12479	159	9	the	the	DET
cblr-12479	159	10	u.s	u.s	PROPN
cblr-12479	159	11	.	.	PROPN
cblr-12479	159	12	and	and	CCONJ
cblr-12479	159	13	canada	canada	PROPN
cblr-12479	159	14	and	and	CCONJ
cblr-12479	159	15	concluded	conclude	VERB
cblr-12479	159	16	that	that	SCONJ
cblr-12479	159	17	a	a	DET
cblr-12479	159	18	special	special	ADJ
cblr-12479	159	19	type	type	NOUN
cblr-12479	159	20	of	of	ADP
cblr-12479	159	21	security	security	NOUN
cblr-12479	159	22	,	,	PUNCT
cblr-12479	159	23	convertible	convertible	ADJ
cblr-12479	159	24	-	-	PUNCT
cblr-12479	159	25	preferred	prefer	VERB
cblr-12479	159	26	stock	stock	NOUN
cblr-12479	159	27	,	,	PUNCT
cblr-12479	159	28	prevailed	prevail	VERB
cblr-12479	159	29	in	in	ADP
cblr-12479	159	30	the	the	DET
cblr-12479	159	31	u.s	u.s	PROPN
cblr-12479	159	32	.	.	PROPN
cblr-12479	159	33	due	due	ADP
cblr-12479	159	34	to	to	ADP
cblr-12479	159	35	a	a	DET
cblr-12479	159	36	combination	combination	NOUN
cblr-12479	159	37	of	of	ADP
cblr-12479	159	38	tax	tax	NOUN
cblr-12479	159	39	regulatory	regulatory	ADJ
cblr-12479	159	40	gaps	gap	NOUN
cblr-12479	159	41	and	and	CCONJ
cblr-12479	159	42	practices	practice	NOUN
cblr-12479	159	43	(	(	PUNCT
cblr-12479	159	44	from	from	ADP
cblr-12479	159	45	both	both	CCONJ
cblr-12479	159	46	the	the	DET
cblr-12479	159	47	lawyers	lawyer	NOUN
cblr-12479	159	48	and	and	CCONJ
cblr-12479	159	49	the	the	DET
cblr-12479	159	50	authorities	authority	NOUN
cblr-12479	159	51	)	)	PUNCT
cblr-12479	159	52	which	which	PRON
cblr-12479	159	53	was	be	AUX
cblr-12479	159	54	absent	absent	ADJ
cblr-12479	159	55	in	in	ADP
cblr-12479	159	56	canada.55	canada.55	NOUN
cblr-12479	159	57	their	their	PRON
cblr-12479	159	58	account	account	NOUN
cblr-12479	159	59	suggests	suggest	VERB
cblr-12479	159	60	that	that	SCONJ
cblr-12479	159	61	tax	tax	NOUN
cblr-12479	159	62	regulations	regulation	NOUN
cblr-12479	159	63	and	and	CCONJ
cblr-12479	159	64	practices	practice	NOUN
cblr-12479	159	65	may	may	AUX
cblr-12479	159	66	explain	explain	VERB
cblr-12479	159	67	variations	variation	NOUN
cblr-12479	159	68	in	in	ADP
cblr-12479	159	69	the	the	DET
cblr-12479	159	70	legal	legal	ADJ
cblr-12479	159	71	structure	structure	NOUN
cblr-12479	159	72	of	of	ADP
cblr-12479	159	73	vc	vc	PROPN
cblr-12479	159	74	finance	finance	NOUN
cblr-12479	159	75	,	,	PUNCT
cblr-12479	159	76	in	in	ADP
cblr-12479	159	77	particular	particular	ADJ
cblr-12479	159	78	,	,	PUNCT
cblr-12479	159	79	the	the	DET
cblr-12479	159	80	types	type	NOUN
cblr-12479	159	81	of	of	ADP
cblr-12479	159	82	51	51	NUM
cblr-12479	159	83	for	for	ADP
cblr-12479	159	84	a	a	DET
cblr-12479	159	85	discussion	discussion	NOUN
cblr-12479	159	86	and	and	CCONJ
cblr-12479	159	87	empirical	empirical	ADJ
cblr-12479	159	88	analysis	analysis	NOUN
cblr-12479	159	89	of	of	ADP
cblr-12479	159	90	additional	additional	ADJ
cblr-12479	159	91	explanations	explanation	NOUN
cblr-12479	159	92	that	that	PRON
cblr-12479	159	93	are	be	AUX
cblr-12479	159	94	beyond	beyond	ADP
cblr-12479	159	95	the	the	DET
cblr-12479	159	96	scope	scope	NOUN
cblr-12479	159	97	of	of	ADP
cblr-12479	159	98	this	this	DET
cblr-12479	159	99	paper	paper	NOUN
cblr-12479	159	100	,	,	PUNCT
cblr-12479	159	101	see	see	VERB
cblr-12479	159	102	cumming	cumming	NOUN
cblr-12479	159	103	&	&	CCONJ
cblr-12479	159	104	johan	johan	PROPN
cblr-12479	159	105	,	,	PUNCT
cblr-12479	159	106	supra	supra	PROPN
cblr-12479	159	107	note	note	PROPN
cblr-12479	159	108	23	23	NUM
cblr-12479	159	109	,	,	PUNCT
cblr-12479	159	110	at	at	ADP
cblr-12479	159	111	319–22	319–22	NUM
cblr-12479	159	112	.	.	PROPN
cblr-12479	160	1	52	52	NUM
cblr-12479	160	2	see	see	VERB
cblr-12479	160	3	hellmann	hellmann	PROPN
cblr-12479	160	4	,	,	PUNCT
cblr-12479	160	5	supra	supra	PROPN
cblr-12479	160	6	note	note	PROPN
cblr-12479	160	7	11	11	NUM
cblr-12479	160	8	;	;	PUNCT
cblr-12479	160	9	berglöf	berglöf	NOUN
cblr-12479	160	10	,	,	PUNCT
cblr-12479	160	11	supra	supra	PROPN
cblr-12479	160	12	note	note	NOUN
cblr-12479	160	13	11	11	NUM
cblr-12479	160	14	.	.	PUNCT
cblr-12479	161	1	53	53	NUM
cblr-12479	161	2	see	see	VERB
cblr-12479	161	3	,	,	PUNCT
cblr-12479	161	4	e.g.	e.g.	ADV
cblr-12479	161	5	,	,	PUNCT
cblr-12479	161	6	thomas	thomas	PROPN
cblr-12479	161	7	hellmann	hellmann	PROPN
cblr-12479	161	8	,	,	PUNCT
cblr-12479	161	9	ipos	ipos	PROPN
cblr-12479	161	10	,	,	PUNCT
cblr-12479	161	11	acquisitions	acquisition	NOUN
cblr-12479	161	12	,	,	PUNCT
cblr-12479	161	13	and	and	CCONJ
cblr-12479	161	14	the	the	DET
cblr-12479	161	15	use	use	NOUN
cblr-12479	161	16	of	of	ADP
cblr-12479	161	17	convertible	convertible	ADJ
cblr-12479	161	18	securities	security	NOUN
cblr-12479	161	19	in	in	ADP
cblr-12479	161	20	venture	venture	NOUN
cblr-12479	161	21	capital	capital	NOUN
cblr-12479	161	22	,	,	PUNCT
cblr-12479	161	23	81	81	NUM
cblr-12479	161	24	j.	j.	PROPN
cblr-12479	161	25	fin	fin	PROPN
cblr-12479	161	26	.	.	PUNCT
cblr-12479	161	27	econ	econ	PROPN
cblr-12479	161	28	.	.	PUNCT
cblr-12479	162	1	649	649	NUM
cblr-12479	162	2	(	(	PUNCT
cblr-12479	162	3	2006	2006	NUM
cblr-12479	162	4	)	)	PUNCT
cblr-12479	162	5	;	;	PUNCT
cblr-12479	162	6	francesca	francesca	PROPN
cblr-12479	162	7	cornelli	cornelli	PROPN
cblr-12479	162	8	&	&	CCONJ
cblr-12479	162	9	oved	ove	VERB
cblr-12479	162	10	yosha	yosha	PROPN
cblr-12479	162	11	,	,	PUNCT
cblr-12479	162	12	stage	stage	NOUN
cblr-12479	162	13	financing	financing	NOUN
cblr-12479	162	14	and	and	CCONJ
cblr-12479	162	15	the	the	DET
cblr-12479	162	16	role	role	NOUN
cblr-12479	162	17	of	of	ADP
cblr-12479	162	18	convertible	convertible	ADJ
cblr-12479	162	19	securities	security	NOUN
cblr-12479	162	20	,	,	PUNCT
cblr-12479	162	21	70	70	NUM
cblr-12479	162	22	rev	rev	VERB
cblr-12479	162	23	.	.	PROPN
cblr-12479	162	24	econ	econ	PROPN
cblr-12479	162	25	.	.	PUNCT
cblr-12479	162	26	stud	stud	PROPN
cblr-12479	162	27	.	.	PUNCT
cblr-12479	163	1	1	1	NUM
cblr-12479	163	2	(	(	PUNCT
cblr-12479	163	3	2003	2003	NUM
cblr-12479	163	4	)	)	PUNCT
cblr-12479	163	5	;	;	PUNCT
cblr-12479	163	6	thomas	thomas	PROPN
cblr-12479	163	7	h.	h.	PROPN
cblr-12479	163	8	noe	noe	PROPN
cblr-12479	163	9	&	&	CCONJ
cblr-12479	163	10	michael	michael	PROPN
cblr-12479	163	11	j.	j.	PROPN
cblr-12479	163	12	rebello	rebello	PROPN
cblr-12479	163	13	,	,	PUNCT
cblr-12479	163	14	asymmetric	asymmetric	ADJ
cblr-12479	163	15	information	information	NOUN
cblr-12479	163	16	,	,	PUNCT
cblr-12479	163	17	managerial	managerial	ADJ
cblr-12479	163	18	opportunism	opportunism	NOUN
cblr-12479	163	19	,	,	PUNCT
cblr-12479	163	20	financing	financing	NOUN
cblr-12479	163	21	,	,	PUNCT
cblr-12479	163	22	and	and	CCONJ
cblr-12479	163	23	payout	payout	NOUN
cblr-12479	163	24	policies	policy	NOUN
cblr-12479	163	25	,	,	PUNCT
cblr-12479	163	26	51	51	NUM
cblr-12479	163	27	j.	j.	PROPN
cblr-12479	163	28	fin	fin	PROPN
cblr-12479	163	29	.	.	PUNCT
cblr-12479	164	1	637	637	NUM
cblr-12479	164	2	(	(	PUNCT
cblr-12479	164	3	1996	1996	NUM
cblr-12479	164	4	)	)	PUNCT
cblr-12479	164	5	.	.	PUNCT
cblr-12479	165	1	54	54	NUM
cblr-12479	165	2	see	see	VERB
cblr-12479	165	3	cumming	cumming	NOUN
cblr-12479	165	4	&	&	CCONJ
cblr-12479	165	5	johan	johan	PROPN
cblr-12479	165	6	,	,	PUNCT
cblr-12479	165	7	supra	supra	PROPN
cblr-12479	165	8	note	note	PROPN
cblr-12479	165	9	23	23	NUM
cblr-12479	165	10	,	,	PUNCT
cblr-12479	165	11	at	at	ADP
cblr-12479	165	12	319–68	319–68	PROPN
cblr-12479	165	13	(	(	PUNCT
cblr-12479	165	14	discussing	discuss	VERB
cblr-12479	165	15	empirical	empirical	ADJ
cblr-12479	165	16	evidence	evidence	NOUN
cblr-12479	165	17	on	on	ADP
cblr-12479	165	18	how	how	SCONJ
cblr-12479	165	19	certain	certain	ADJ
cblr-12479	165	20	agency	agency	NOUN
cblr-12479	165	21	costs	cost	NOUN
cblr-12479	165	22	,	,	PUNCT
cblr-12479	165	23	such	such	ADJ
cblr-12479	165	24	as	as	ADP
cblr-12479	165	25	moral	moral	ADJ
cblr-12479	165	26	hazard	hazard	NOUN
cblr-12479	165	27	or	or	CCONJ
cblr-12479	165	28	adverse	adverse	ADJ
cblr-12479	165	29	selection	selection	NOUN
cblr-12479	165	30	,	,	PUNCT
cblr-12479	165	31	vary	vary	VERB
cblr-12479	165	32	depending	depend	VERB
cblr-12479	165	33	on	on	ADP
cblr-12479	165	34	the	the	DET
cblr-12479	165	35	stage	stage	NOUN
cblr-12479	165	36	and	and	CCONJ
cblr-12479	165	37	structure	structure	NOUN
cblr-12479	165	38	of	of	ADP
cblr-12479	165	39	the	the	DET
cblr-12479	165	40	investment	investment	NOUN
cblr-12479	165	41	and	and	CCONJ
cblr-12479	165	42	on	on	ADP
cblr-12479	165	43	the	the	DET
cblr-12479	165	44	characteristics	characteristic	NOUN
cblr-12479	165	45	of	of	ADP
cblr-12479	165	46	transacting	transact	VERB
cblr-12479	165	47	parties	party	NOUN
cblr-12479	165	48	)	)	PUNCT
cblr-12479	165	49	.	.	PUNCT
cblr-12479	166	1	55	55	NUM
cblr-12479	166	2	gilson	gilson	PROPN
cblr-12479	166	3	&	&	CCONJ
cblr-12479	166	4	schizer	schizer	PROPN
cblr-12479	166	5	,	,	PUNCT
cblr-12479	166	6	supra	supra	PROPN
cblr-12479	166	7	note	note	NOUN
cblr-12479	166	8	24	24	NUM
cblr-12479	166	9	,	,	PUNCT
cblr-12479	166	10	at	at	ADP
cblr-12479	166	11	888–92	888–92	NOUN
cblr-12479	166	12	.	.	PUNCT
cblr-12479	167	1	690	690	NUM
cblr-12479	167	2	columbia	columbia	PROPN
cblr-12479	167	3	business	business	NOUN
cblr-12479	167	4	law	law	PROPN
cblr-12479	167	5	review	review	NOUN
cblr-12479	167	6	[	[	X
cblr-12479	167	7	vol	vol	NOUN
cblr-12479	167	8	.	.	PUNCT
cblr-12479	167	9	2023	2023	NUM
cblr-12479	167	10	securities	security	NOUN
cblr-12479	167	11	most	most	ADV
cblr-12479	167	12	commonly	commonly	ADV
cblr-12479	167	13	used	use	VERB
cblr-12479	167	14	in	in	ADP
cblr-12479	167	15	different	different	ADJ
cblr-12479	167	16	vc	vc	PROPN
cblr-12479	167	17	markets.56	markets.56	ADJ
cblr-12479	167	18	third	third	NOUN
cblr-12479	167	19	,	,	PUNCT
cblr-12479	167	20	a	a	DET
cblr-12479	167	21	legal	legal	ADJ
cblr-12479	167	22	explanation	explanation	NOUN
cblr-12479	167	23	.	.	PUNCT
cblr-12479	168	1	a	a	DET
cblr-12479	168	2	number	number	NOUN
cblr-12479	168	3	of	of	ADP
cblr-12479	168	4	empirical	empirical	ADJ
cblr-12479	168	5	studies	study	NOUN
cblr-12479	168	6	have	have	AUX
cblr-12479	168	7	sought	seek	VERB
cblr-12479	168	8	to	to	PART
cblr-12479	168	9	explore	explore	VERB
cblr-12479	168	10	how	how	SCONJ
cblr-12479	168	11	differences	difference	NOUN
cblr-12479	168	12	between	between	ADP
cblr-12479	168	13	legal	legal	ADJ
cblr-12479	168	14	systems	system	NOUN
cblr-12479	168	15	influence	influence	NOUN
cblr-12479	168	16	vc	vc	ADP
cblr-12479	168	17	financing	financing	NOUN
cblr-12479	168	18	by	by	ADP
cblr-12479	168	19	analyzing	analyze	VERB
cblr-12479	168	20	deal	deal	NOUN
cblr-12479	168	21	information	information	NOUN
cblr-12479	168	22	provided	provide	VERB
cblr-12479	168	23	by	by	ADP
cblr-12479	168	24	vcs	vcs	PROPN
cblr-12479	168	25	in	in	ADP
cblr-12479	168	26	various	various	ADJ
cblr-12479	168	27	countries.57	countries.57	NOUN
cblr-12479	168	28	these	these	DET
cblr-12479	168	29	studies	study	NOUN
cblr-12479	168	30	have	have	AUX
cblr-12479	168	31	found	find	VERB
cblr-12479	168	32	significant	significant	ADJ
cblr-12479	168	33	correlations	correlation	NOUN
cblr-12479	168	34	between	between	ADP
cblr-12479	168	35	various	various	ADJ
cblr-12479	168	36	general	general	ADJ
cblr-12479	168	37	measures	measure	NOUN
cblr-12479	168	38	of	of	ADP
cblr-12479	168	39	the	the	DET
cblr-12479	168	40	quality	quality	NOUN
cblr-12479	168	41	of	of	ADP
cblr-12479	168	42	the	the	DET
cblr-12479	168	43	law	law	NOUN
cblr-12479	168	44	(	(	PUNCT
cblr-12479	168	45	e.g.	e.g.	ADV
cblr-12479	168	46	,	,	PUNCT
cblr-12479	168	47	shareholder	shareholder	NOUN
cblr-12479	168	48	and	and	CCONJ
cblr-12479	168	49	creditor	creditor	NOUN
cblr-12479	168	50	protection	protection	NOUN
cblr-12479	168	51	)	)	PUNCT
cblr-12479	168	52	and	and	CCONJ
cblr-12479	168	53	the	the	DET
cblr-12479	168	54	governance	governance	NOUN
cblr-12479	168	55	and	and	CCONJ
cblr-12479	168	56	capital	capital	NOUN
cblr-12479	168	57	structure	structure	NOUN
cblr-12479	168	58	of	of	ADP
cblr-12479	168	59	vc	vc	PROPN
cblr-12479	168	60	-	-	PUNCT
cblr-12479	168	61	backed	back	VERB
cblr-12479	168	62	firms	firm	NOUN
cblr-12479	168	63	(	(	PUNCT
cblr-12479	168	64	e.g.	e.g.	ADV
cblr-12479	168	65	,	,	PUNCT
cblr-12479	168	66	the	the	DET
cblr-12479	168	67	prevalence	prevalence	NOUN
cblr-12479	168	68	of	of	ADP
cblr-12479	168	69	convertiblepreferred	convertiblepreferre	VERB
cblr-12479	168	70	stock	stock	NOUN
cblr-12479	168	71	)	)	PUNCT
cblr-12479	168	72	,	,	PUNCT
cblr-12479	168	73	which	which	PRON
cblr-12479	168	74	suggest	suggest	VERB
cblr-12479	168	75	that	that	SCONJ
cblr-12479	168	76	legal	legal	ADJ
cblr-12479	168	77	institutions	institution	NOUN
cblr-12479	168	78	influence	influence	VERB
cblr-12479	168	79	bargains	bargain	NOUN
cblr-12479	168	80	between	between	ADP
cblr-12479	168	81	entrepreneurs	entrepreneur	NOUN
cblr-12479	168	82	and	and	CCONJ
cblr-12479	168	83	investors	investor	NOUN
cblr-12479	168	84	.	.	PUNCT
cblr-12479	169	1	while	while	SCONJ
cblr-12479	169	2	insightful	insightful	ADJ
cblr-12479	169	3	,	,	PUNCT
cblr-12479	169	4	these	these	DET
cblr-12479	169	5	explanations	explanation	NOUN
cblr-12479	169	6	are	be	AUX
cblr-12479	169	7	still	still	ADV
cblr-12479	169	8	inconclusive	inconclusive	ADJ
cblr-12479	169	9	.	.	PUNCT
cblr-12479	170	1	for	for	ADP
cblr-12479	170	2	one	one	NUM
cblr-12479	170	3	,	,	PUNCT
cblr-12479	170	4	they	they	PRON
cblr-12479	170	5	are	be	AUX
cblr-12479	170	6	based	base	VERB
cblr-12479	170	7	on	on	ADP
cblr-12479	170	8	minimal	minimal	ADJ
cblr-12479	170	9	but	but	CCONJ
cblr-12479	170	10	fundamental	fundamental	ADJ
cblr-12479	170	11	assumptions	assumption	NOUN
cblr-12479	170	12	of	of	ADP
cblr-12479	170	13	what	what	PRON
cblr-12479	170	14	entrepreneurs	entrepreneur	NOUN
cblr-12479	170	15	and	and	CCONJ
cblr-12479	170	16	investors	investor	NOUN
cblr-12479	170	17	can	can	AUX
cblr-12479	170	18	legally	legally	ADV
cblr-12479	170	19	bargain	bargain	VERB
cblr-12479	170	20	for	for	ADP
cblr-12479	170	21	and	and	CCONJ
cblr-12479	170	22	agree	agree	VERB
cblr-12479	170	23	upon	upon	SCONJ
cblr-12479	170	24	across	across	ADP
cblr-12479	170	25	jurisdictions	jurisdiction	NOUN
cblr-12479	170	26	.	.	PUNCT
cblr-12479	171	1	for	for	ADP
cblr-12479	171	2	example	example	NOUN
cblr-12479	171	3	,	,	PUNCT
cblr-12479	171	4	their	their	PRON
cblr-12479	171	5	ability	ability	NOUN
cblr-12479	171	6	to	to	PART
cblr-12479	171	7	design	design	VERB
cblr-12479	171	8	securities	security	NOUN
cblr-12479	171	9	to	to	PART
cblr-12479	171	10	structure	structure	VERB
cblr-12479	171	11	contingent	contingent	NOUN
cblr-12479	171	12	control	control	NOUN
cblr-12479	171	13	is	be	AUX
cblr-12479	171	14	not	not	PART
cblr-12479	171	15	generally	generally	ADV
cblr-12479	171	16	questioned	question	VERB
cblr-12479	171	17	.	.	PUNCT
cblr-12479	172	1	notably	notably	ADV
cblr-12479	172	2	,	,	PUNCT
cblr-12479	172	3	the	the	DET
cblr-12479	172	4	empirical	empirical	ADJ
cblr-12479	172	5	studies	study	NOUN
cblr-12479	172	6	exploring	explore	VERB
cblr-12479	172	7	the	the	DET
cblr-12479	172	8	role	role	NOUN
cblr-12479	172	9	of	of	ADP
cblr-12479	172	10	legal	legal	ADJ
cblr-12479	172	11	institutions	institution	NOUN
cblr-12479	172	12	use	use	VERB
cblr-12479	172	13	measures	measure	NOUN
cblr-12479	172	14	of	of	ADP
cblr-12479	172	15	the	the	DET
cblr-12479	172	16	quality	quality	NOUN
cblr-12479	172	17	of	of	ADP
cblr-12479	172	18	the	the	DET
cblr-12479	172	19	law	law	NOUN
cblr-12479	172	20	that	that	PRON
cblr-12479	172	21	have	have	AUX
cblr-12479	172	22	proven	prove	VERB
cblr-12479	172	23	inaccurate	inaccurate	ADJ
cblr-12479	172	24	,	,	PUNCT
cblr-12479	172	25	such	such	ADJ
cblr-12479	172	26	as	as	ADP
cblr-12479	172	27	those	those	PRON
cblr-12479	172	28	that	that	PRON
cblr-12479	172	29	classify	classify	VERB
cblr-12479	172	30	legal	legal	ADJ
cblr-12479	172	31	systems	system	NOUN
cblr-12479	172	32	by	by	ADP
cblr-12479	172	33	legal	legal	ADJ
cblr-12479	172	34	families	family	NOUN
cblr-12479	172	35	or	or	CCONJ
cblr-12479	172	36	legal	legal	ADJ
cblr-12479	172	37	origins.58	origins.58	NOUN
cblr-12479	172	38	in	in	ADP
cblr-12479	172	39	this	this	DET
cblr-12479	172	40	literature	literature	NOUN
cblr-12479	172	41	it	it	PRON
cblr-12479	172	42	is	be	AUX
cblr-12479	172	43	also	also	ADV
cblr-12479	172	44	common	common	ADJ
cblr-12479	172	45	to	to	PART
cblr-12479	172	46	use	use	VERB
cblr-12479	172	47	international	international	ADJ
cblr-12479	172	48	legal	legal	ADJ
cblr-12479	172	49	indexes	index	NOUN
cblr-12479	172	50	that	that	PRON
cblr-12479	172	51	,	,	PUNCT
cblr-12479	172	52	despite	despite	SCONJ
cblr-12479	172	53	covering	cover	VERB
cblr-12479	172	54	a	a	DET
cblr-12479	172	55	wide	wide	ADJ
cblr-12479	172	56	range	range	NOUN
cblr-12479	172	57	of	of	ADP
cblr-12479	172	58	jurisdictions	jurisdiction	NOUN
cblr-12479	172	59	,	,	PUNCT
cblr-12479	172	60	do	do	AUX
cblr-12479	172	61	not	not	PART
cblr-12479	172	62	capture	capture	VERB
cblr-12479	172	63	the	the	DET
cblr-12479	172	64	legal	legal	ADJ
cblr-12479	172	65	rules	rule	NOUN
cblr-12479	172	66	that	that	PRON
cblr-12479	172	67	govern	govern	VERB
cblr-12479	172	68	56	56	NUM
cblr-12479	172	69	see	see	NOUN
cblr-12479	172	70	cumming	cumming	NOUN
cblr-12479	172	71	&	&	CCONJ
cblr-12479	172	72	johan	johan	PROPN
cblr-12479	172	73	,	,	PUNCT
cblr-12479	172	74	supra	supra	PROPN
cblr-12479	172	75	note	note	PROPN
cblr-12479	172	76	23	23	NUM
cblr-12479	172	77	,	,	PUNCT
cblr-12479	172	78	at	at	ADP
cblr-12479	172	79	356	356	NUM
cblr-12479	172	80	(	(	PUNCT
cblr-12479	172	81	finding	finding	NOUN
cblr-12479	172	82	,	,	PUNCT
cblr-12479	172	83	based	base	VERB
cblr-12479	172	84	on	on	ADP
cblr-12479	172	85	statistical	statistical	ADJ
cblr-12479	172	86	analyses	analysis	NOUN
cblr-12479	172	87	of	of	ADP
cblr-12479	172	88	12,363	12,363	NUM
cblr-12479	172	89	venture	venture	NOUN
cblr-12479	172	90	deals	deal	NOUN
cblr-12479	172	91	in	in	ADP
cblr-12479	172	92	canada	canada	PROPN
cblr-12479	172	93	,	,	PUNCT
cblr-12479	172	94	between	between	ADP
cblr-12479	172	95	1991	1991	NUM
cblr-12479	172	96	to	to	ADP
cblr-12479	172	97	2003	2003	NUM
cblr-12479	172	98	,	,	PUNCT
cblr-12479	172	99	that	that	SCONJ
cblr-12479	172	100	“	"	PUNCT
cblr-12479	172	101	higher	high	ADJ
cblr-12479	172	102	capital	capital	NOUN
cblr-12479	172	103	gains	gain	VERB
cblr-12479	172	104	taxes	taxis	NOUN
cblr-12479	172	105	lower	low	ADJ
cblr-12479	172	106	the	the	DET
cblr-12479	172	107	probability	probability	NOUN
cblr-12479	172	108	that	that	SCONJ
cblr-12479	172	109	convertible	convertible	ADJ
cblr-12479	172	110	preferred	preferred	ADJ
cblr-12479	172	111	equity	equity	NOUN
cblr-12479	172	112	is	be	AUX
cblr-12479	172	113	used	use	VERB
cblr-12479	172	114	,	,	PUNCT
cblr-12479	172	115	”	"	PUNCT
cblr-12479	172	116	which	which	PRON
cblr-12479	172	117	is	be	AUX
cblr-12479	172	118	consistent	consistent	ADJ
cblr-12479	172	119	with	with	ADP
cblr-12479	172	120	gilson	gilson	PROPN
cblr-12479	172	121	&	&	CCONJ
cblr-12479	172	122	schizer	schizer	PROPN
cblr-12479	172	123	,	,	PUNCT
cblr-12479	172	124	supra	supra	PROPN
cblr-12479	172	125	note	note	NOUN
cblr-12479	172	126	24	24	NUM
cblr-12479	172	127	)	)	PUNCT
cblr-12479	172	128	.	.	PUNCT
cblr-12479	173	1	57	57	NUM
cblr-12479	173	2	see	see	NOUN
cblr-12479	173	3	,	,	PUNCT
cblr-12479	173	4	e.g.	e.g.	ADV
cblr-12479	173	5	,	,	PUNCT
cblr-12479	173	6	theodore	theodore	PROPN
cblr-12479	173	7	a.	a.	PROPN
cblr-12479	173	8	khoury	khoury	PROPN
cblr-12479	173	9	,	,	PUNCT
cblr-12479	173	10	marc	marc	PROPN
cblr-12479	173	11	junkunc	junkunc	PROPN
cblr-12479	173	12	&	&	CCONJ
cblr-12479	173	13	santiago	santiago	PROPN
cblr-12479	173	14	mingo	mingo	PROPN
cblr-12479	173	15	,	,	PUNCT
cblr-12479	173	16	navigating	navigate	VERB
cblr-12479	173	17	political	political	ADJ
cblr-12479	173	18	hazard	hazard	NOUN
cblr-12479	173	19	risks	risk	NOUN
cblr-12479	173	20	and	and	CCONJ
cblr-12479	173	21	legal	legal	ADJ
cblr-12479	173	22	system	system	NOUN
cblr-12479	173	23	quality	quality	NOUN
cblr-12479	173	24	:	:	PUNCT
cblr-12479	173	25	venture	venture	NOUN
cblr-12479	173	26	capital	capital	NOUN
cblr-12479	173	27	investments	investment	NOUN
cblr-12479	173	28	in	in	ADP
cblr-12479	173	29	latin	latin	PROPN
cblr-12479	173	30	america	america	PROPN
cblr-12479	173	31	,	,	PUNCT
cblr-12479	173	32	41	41	NUM
cblr-12479	173	33	j.	j.	PROPN
cblr-12479	173	34	mgmt	mgmt	PROPN
cblr-12479	173	35	.	.	PUNCT
cblr-12479	174	1	808	808	NUM
cblr-12479	174	2	(	(	PUNCT
cblr-12479	174	3	2015	2015	NUM
cblr-12479	174	4	)	)	PUNCT
cblr-12479	175	1	;	;	PUNCT
cblr-12479	175	2	cumming	cumme	VERB
cblr-12479	175	3	et	et	PROPN
cblr-12479	175	4	al	al	PROPN
cblr-12479	175	5	.	.	PROPN
cblr-12479	175	6	,	,	PUNCT
cblr-12479	175	7	supra	supra	PROPN
cblr-12479	175	8	note	note	PROPN
cblr-12479	175	9	25	25	NUM
cblr-12479	175	10	;	;	PUNCT
cblr-12479	175	11	laura	laura	NOUN
cblr-12479	175	12	bottazzi	bottazzi	PROPN
cblr-12479	175	13	,	,	PUNCT
cblr-12479	175	14	marco	marco	PROPN
cblr-12479	175	15	da	da	PROPN
cblr-12479	175	16	rin	rin	PROPN
cblr-12479	175	17	&	&	CCONJ
cblr-12479	175	18	thomas	thomas	PROPN
cblr-12479	175	19	hellmann	hellmann	PROPN
cblr-12479	175	20	,	,	PUNCT
cblr-12479	175	21	what	what	PRON
cblr-12479	175	22	is	be	AUX
cblr-12479	175	23	the	the	DET
cblr-12479	175	24	role	role	NOUN
cblr-12479	175	25	of	of	ADP
cblr-12479	175	26	legal	legal	ADJ
cblr-12479	175	27	systems	system	NOUN
cblr-12479	175	28	in	in	ADP
cblr-12479	175	29	financial	financial	ADJ
cblr-12479	175	30	intermediation	intermediation	NOUN
cblr-12479	175	31	?	?	PUNCT
cblr-12479	176	1	theory	theory	NOUN
cblr-12479	176	2	and	and	CCONJ
cblr-12479	176	3	evidence	evidence	NOUN
cblr-12479	176	4	,	,	PUNCT
cblr-12479	176	5	18	18	NUM
cblr-12479	176	6	j.	j.	PROPN
cblr-12479	176	7	fin	fin	PROPN
cblr-12479	176	8	.	.	PUNCT
cblr-12479	177	1	intermediation	intermediation	NOUN
cblr-12479	177	2	559	559	NUM
cblr-12479	177	3	(	(	PUNCT
cblr-12479	177	4	2009	2009	NUM
cblr-12479	177	5	)	)	PUNCT
cblr-12479	177	6	.	.	PUNCT
cblr-12479	178	1	58	58	NUM
cblr-12479	178	2	see	see	VERB
cblr-12479	178	3	holger	holger	NOUN
cblr-12479	178	4	spamann	spamann	PROPN
cblr-12479	178	5	,	,	PUNCT
cblr-12479	178	6	the	the	DET
cblr-12479	178	7	“	"	PUNCT
cblr-12479	178	8	antidirector	antidirector	NOUN
cblr-12479	178	9	rights	right	NOUN
cblr-12479	178	10	index	index	NOUN
cblr-12479	178	11	”	"	PUNCT
cblr-12479	178	12	revisited	revisit	VERB
cblr-12479	178	13	,	,	PUNCT
cblr-12479	178	14	23	23	NUM
cblr-12479	178	15	rev	rev	X
cblr-12479	178	16	.	.	PROPN
cblr-12479	178	17	fin	fin	NOUN
cblr-12479	178	18	.	.	PUNCT
cblr-12479	178	19	stud	stud	PROPN
cblr-12479	178	20	.	.	PUNCT
cblr-12479	179	1	467	467	NUM
cblr-12479	179	2	,	,	PUNCT
cblr-12479	179	3	470	470	NUM
cblr-12479	179	4	,	,	PUNCT
cblr-12479	179	5	477	477	NUM
cblr-12479	179	6	(	(	PUNCT
cblr-12479	179	7	2010	2010	NUM
cblr-12479	179	8	)	)	PUNCT
cblr-12479	179	9	;	;	PUNCT
cblr-12479	179	10	john	john	PROPN
cblr-12479	179	11	armour	armour	PROPN
cblr-12479	179	12	,	,	PUNCT
cblr-12479	179	13	simon	simon	PROPN
cblr-12479	179	14	deakin	deakin	PROPN
cblr-12479	179	15	,	,	PUNCT
cblr-12479	179	16	prabirjit	prabirjit	ADJ
cblr-12479	179	17	sarkar	sarkar	PROPN
cblr-12479	179	18	,	,	PUNCT
cblr-12479	179	19	mathias	mathias	PROPN
cblr-12479	179	20	siems	siem	NOUN
cblr-12479	179	21	&	&	CCONJ
cblr-12479	179	22	ajit	ajit	PROPN
cblr-12479	179	23	singh	singh	PROPN
cblr-12479	179	24	,	,	PUNCT
cblr-12479	179	25	shareholder	shareholder	NOUN
cblr-12479	179	26	protection	protection	NOUN
cblr-12479	179	27	and	and	CCONJ
cblr-12479	179	28	stock	stock	NOUN
cblr-12479	179	29	market	market	NOUN
cblr-12479	179	30	development	development	NOUN
cblr-12479	179	31	:	:	PUNCT
cblr-12479	179	32	an	an	DET
cblr-12479	179	33	empirical	empirical	ADJ
cblr-12479	179	34	test	test	NOUN
cblr-12479	179	35	of	of	ADP
cblr-12479	179	36	the	the	DET
cblr-12479	179	37	legal	legal	ADJ
cblr-12479	179	38	origins	origin	NOUN
cblr-12479	179	39	hypothesis	hypothesis	NOUN
cblr-12479	179	40	,	,	PUNCT
cblr-12479	179	41	6	6	NUM
cblr-12479	179	42	j.	j.	PROPN
cblr-12479	179	43	empirical	empirical	ADJ
cblr-12479	179	44	legal	legal	ADJ
cblr-12479	179	45	stud	stud	NOUN
cblr-12479	179	46	.	.	PUNCT
cblr-12479	180	1	343	343	NUM
cblr-12479	180	2	(	(	PUNCT
cblr-12479	180	3	2009	2009	NUM
cblr-12479	180	4	)	)	PUNCT
cblr-12479	180	5	;	;	PUNCT
cblr-12479	180	6	katharina	katharina	PROPN
cblr-12479	180	7	pistor	pistor	PROPN
cblr-12479	180	8	,	,	PUNCT
cblr-12479	180	9	patterns	pattern	NOUN
cblr-12479	180	10	of	of	ADP
cblr-12479	180	11	legal	legal	ADJ
cblr-12479	180	12	change	change	NOUN
cblr-12479	180	13	:	:	PUNCT
cblr-12479	180	14	shareholder	shareholder	NOUN
cblr-12479	180	15	and	and	CCONJ
cblr-12479	180	16	creditor	creditor	NOUN
cblr-12479	180	17	rights	right	NOUN
cblr-12479	180	18	in	in	ADP
cblr-12479	180	19	transition	transition	NOUN
cblr-12479	180	20	economies	economy	NOUN
cblr-12479	180	21	,	,	PUNCT
cblr-12479	180	22	1	1	NUM
cblr-12479	180	23	eur	eur	NOUN
cblr-12479	180	24	.	.	PUNCT
cblr-12479	180	25	bus	bus	NOUN
cblr-12479	180	26	.	.	PUNCT
cblr-12479	181	1	org	org	PROPN
cblr-12479	181	2	.	.	PUNCT
cblr-12479	182	1	l.	l.	PROPN
cblr-12479	182	2	rev	rev	PROPN
cblr-12479	182	3	.	.	PROPN
cblr-12479	182	4	59	59	NUM
cblr-12479	182	5	(	(	PUNCT
cblr-12479	182	6	2000	2000	NUM
cblr-12479	182	7	)	)	PUNCT
cblr-12479	182	8	.	.	PUNCT
cblr-12479	183	1	no	no	INTJ
cblr-12479	183	2	.	.	NOUN
cblr-12479	184	1	2	2	NUM
cblr-12479	184	2	]	]	PUNCT
cblr-12479	184	3	the	the	DET
cblr-12479	184	4	law	law	NOUN
cblr-12479	184	5	of	of	ADP
cblr-12479	184	6	contingent	contingent	NOUN
cblr-12479	184	7	control	control	NOUN
cblr-12479	184	8	691	691	NUM
cblr-12479	184	9	entrepreneur	entrepreneur	NOUN
cblr-12479	184	10	-	-	PUNCT
cblr-12479	184	11	investor	investor	NOUN
cblr-12479	184	12	relationships	relationship	NOUN
cblr-12479	184	13	or	or	CCONJ
cblr-12479	184	14	that	that	PRON
cblr-12479	184	15	were	be	AUX
cblr-12479	184	16	even	even	ADV
cblr-12479	184	17	binding	bind	VERB
cblr-12479	184	18	in	in	ADP
cblr-12479	184	19	the	the	DET
cblr-12479	184	20	period	period	NOUN
cblr-12479	184	21	of	of	ADP
cblr-12479	184	22	interest	interest	NOUN
cblr-12479	184	23	.	.	PUNCT
cblr-12479	185	1	for	for	ADP
cblr-12479	185	2	instance	instance	NOUN
cblr-12479	185	3	,	,	PUNCT
cblr-12479	185	4	the	the	DET
cblr-12479	185	5	anti	anti	ADJ
cblr-12479	185	6	-	-	ADJ
cblr-12479	185	7	director	director	ADJ
cblr-12479	185	8	index	index	NOUN
cblr-12479	185	9	,	,	PUNCT
cblr-12479	185	10	the	the	DET
cblr-12479	185	11	dominant	dominant	ADJ
cblr-12479	185	12	measure	measure	NOUN
cblr-12479	185	13	of	of	ADP
cblr-12479	185	14	shareholder	shareholder	NOUN
cblr-12479	185	15	protection	protection	NOUN
cblr-12479	185	16	used	use	VERB
cblr-12479	185	17	in	in	ADP
cblr-12479	185	18	venture	venture	NOUN
cblr-12479	185	19	finance	finance	NOUN
cblr-12479	185	20	research	research	NOUN
cblr-12479	185	21	,	,	PUNCT
cblr-12479	185	22	is	be	AUX
cblr-12479	185	23	based	base	VERB
cblr-12479	185	24	on	on	ADP
cblr-12479	185	25	laws	law	NOUN
cblr-12479	185	26	that	that	PRON
cblr-12479	185	27	govern	govern	VERB
cblr-12479	185	28	publicly	publicly	ADV
cblr-12479	185	29	traded	trade	VERB
cblr-12479	185	30	companies,59	companies,59	NOUN
cblr-12479	185	31	not	not	PART
cblr-12479	185	32	the	the	DET
cblr-12479	185	33	private	private	ADJ
cblr-12479	185	34	startups	startup	NOUN
cblr-12479	185	35	in	in	ADP
cblr-12479	185	36	which	which	PRON
cblr-12479	185	37	vcs	vcs	PROPN
cblr-12479	185	38	invest	invest	VERB
cblr-12479	185	39	.	.	PUNCT
cblr-12479	186	1	the	the	DET
cblr-12479	186	2	legality	legality	NOUN
cblr-12479	186	3	index	index	NOUN
cblr-12479	186	4	,	,	PUNCT
cblr-12479	186	5	often	often	ADV
cblr-12479	186	6	perceived	perceive	VERB
cblr-12479	186	7	as	as	ADP
cblr-12479	186	8	a	a	DET
cblr-12479	186	9	more	more	ADV
cblr-12479	186	10	comprehensive	comprehensive	ADJ
cblr-12479	186	11	assessment	assessment	NOUN
cblr-12479	186	12	of	of	ADP
cblr-12479	186	13	legal	legal	ADJ
cblr-12479	186	14	differences	difference	NOUN
cblr-12479	186	15	for	for	ADP
cblr-12479	186	16	covering	cover	VERB
cblr-12479	186	17	other	other	ADJ
cblr-12479	186	18	factors	factor	NOUN
cblr-12479	186	19	affecting	affect	VERB
cblr-12479	186	20	how	how	SCONJ
cblr-12479	186	21	companies	company	NOUN
cblr-12479	186	22	are	be	AUX
cblr-12479	186	23	governed	govern	VERB
cblr-12479	186	24	and	and	CCONJ
cblr-12479	186	25	financed	finance	VERB
cblr-12479	186	26	(	(	PUNCT
cblr-12479	186	27	e.g.	e.g.	ADV
cblr-12479	186	28	,	,	PUNCT
cblr-12479	186	29	effectiveness	effectiveness	NOUN
cblr-12479	186	30	of	of	ADP
cblr-12479	186	31	the	the	DET
cblr-12479	186	32	judiciary	judiciary	NOUN
cblr-12479	186	33	or	or	CCONJ
cblr-12479	186	34	the	the	DET
cblr-12479	186	35	rule	rule	NOUN
cblr-12479	186	36	of	of	ADP
cblr-12479	186	37	law	law	NOUN
cblr-12479	186	38	)	)	PUNCT
cblr-12479	186	39	,	,	PUNCT
cblr-12479	186	40	could	could	AUX
cblr-12479	186	41	also	also	ADV
cblr-12479	186	42	be	be	AUX
cblr-12479	186	43	misleading	misleading	ADJ
cblr-12479	186	44	:	:	PUNCT
cblr-12479	186	45	it	it	PRON
cblr-12479	186	46	captures	capture	VERB
cblr-12479	186	47	the	the	DET
cblr-12479	186	48	legal	legal	ADJ
cblr-12479	186	49	rules	rule	NOUN
cblr-12479	186	50	that	that	PRON
cblr-12479	186	51	were	be	AUX
cblr-12479	186	52	binding	bind	VERB
cblr-12479	186	53	between	between	ADP
cblr-12479	186	54	1980	1980	NUM
cblr-12479	186	55	and	and	CCONJ
cblr-12479	186	56	1995	1995	NUM
cblr-12479	186	57	,	,	PUNCT
cblr-12479	186	58	a	a	DET
cblr-12479	186	59	period	period	NOUN
cblr-12479	186	60	prior	prior	ADV
cblr-12479	186	61	to	to	ADP
cblr-12479	186	62	the	the	DET
cblr-12479	186	63	one	one	NOUN
cblr-12479	186	64	in	in	ADP
cblr-12479	186	65	which	which	PRON
cblr-12479	186	66	vc	vc	AUX
cblr-12479	186	67	spread	spread	VERB
cblr-12479	186	68	globally	globally	ADV
cblr-12479	186	69	,	,	PUNCT
cblr-12479	186	70	and	and	CCONJ
cblr-12479	186	71	its	its	PRON
cblr-12479	186	72	assessment	assessment	NOUN
cblr-12479	186	73	of	of	ADP
cblr-12479	186	74	corporate	corporate	ADJ
cblr-12479	186	75	laws	law	NOUN
cblr-12479	186	76	is	be	AUX
cblr-12479	186	77	based	base	VERB
cblr-12479	186	78	on	on	ADP
cblr-12479	186	79	the	the	DET
cblr-12479	186	80	cited	cite	VERB
cblr-12479	186	81	anti	anti	ADJ
cblr-12479	186	82	-	-	NOUN
cblr-12479	186	83	director	director	NOUN
cblr-12479	186	84	index.60	index.60	ADV
cblr-12479	186	85	significantly	significantly	ADV
cblr-12479	186	86	,	,	PUNCT
cblr-12479	186	87	neither	neither	PRON
cblr-12479	186	88	of	of	ADP
cblr-12479	186	89	these	these	DET
cblr-12479	186	90	approaches	approach	NOUN
cblr-12479	186	91	has	have	AUX
cblr-12479	186	92	considered	consider	VERB
cblr-12479	186	93	differences	difference	NOUN
cblr-12479	186	94	in	in	ADP
cblr-12479	186	95	corporate	corporate	ADJ
cblr-12479	186	96	laws	law	NOUN
cblr-12479	186	97	applicable	applicable	ADJ
cblr-12479	186	98	to	to	ADP
cblr-12479	186	99	non	non	ADJ
cblr-12479	186	100	-	-	ADJ
cblr-12479	186	101	listed	listed	ADJ
cblr-12479	186	102	firms	firm	NOUN
cblr-12479	186	103	,	,	PUNCT
cblr-12479	186	104	which	which	PRON
cblr-12479	186	105	govern	govern	VERB
cblr-12479	186	106	vc	vc	NOUN
cblr-12479	186	107	-	-	PUNCT
cblr-12479	186	108	backed	back	VERB
cblr-12479	186	109	companies	company	NOUN
cblr-12479	186	110	’	’	PART
cblr-12479	186	111	internal	internal	ADJ
cblr-12479	186	112	affairs	affair	NOUN
cblr-12479	186	113	and	and	CCONJ
cblr-12479	186	114	would	would	AUX
cblr-12479	186	115	be	be	AUX
cblr-12479	186	116	expected	expect	VERB
cblr-12479	186	117	to	to	PART
cblr-12479	186	118	have	have	VERB
cblr-12479	186	119	some	some	DET
cblr-12479	186	120	influence	influence	NOUN
cblr-12479	186	121	in	in	ADP
cblr-12479	186	122	the	the	DET
cblr-12479	186	123	legal	legal	ADJ
cblr-12479	186	124	instruments	instrument	NOUN
cblr-12479	186	125	selected	select	VERB
cblr-12479	186	126	to	to	PART
cblr-12479	186	127	assemble	assemble	VERB
cblr-12479	186	128	their	their	PRON
cblr-12479	186	129	governance	governance	NOUN
cblr-12479	186	130	and	and	CCONJ
cblr-12479	186	131	capital	capital	NOUN
cblr-12479	186	132	structures	structure	NOUN
cblr-12479	186	133	.	.	PUNCT
cblr-12479	187	1	the	the	DET
cblr-12479	187	2	main	main	ADJ
cblr-12479	187	3	reason	reason	NOUN
cblr-12479	187	4	for	for	ADP
cblr-12479	187	5	the	the	DET
cblr-12479	187	6	lack	lack	NOUN
cblr-12479	187	7	of	of	ADP
cblr-12479	187	8	interest	interest	NOUN
cblr-12479	187	9	in	in	ADP
cblr-12479	187	10	corporate	corporate	ADJ
cblr-12479	187	11	law	law	NOUN
cblr-12479	187	12	is	be	AUX
cblr-12479	187	13	that	that	SCONJ
cblr-12479	187	14	,	,	PUNCT
cblr-12479	187	15	at	at	ADP
cblr-12479	187	16	least	least	ADJ
cblr-12479	187	17	for	for	ADP
cblr-12479	187	18	non	non	ADJ
cblr-12479	187	19	-	-	ADJ
cblr-12479	187	20	listed	listed	ADJ
cblr-12479	187	21	firms	firm	NOUN
cblr-12479	187	22	,	,	PUNCT
cblr-12479	187	23	it	it	PRON
cblr-12479	187	24	is	be	AUX
cblr-12479	187	25	presumed	presume	VERB
cblr-12479	187	26	to	to	PART
cblr-12479	187	27	be	be	AUX
cblr-12479	187	28	comprised	comprise	VERB
cblr-12479	187	29	of	of	ADP
cblr-12479	187	30	flexible	flexible	ADJ
cblr-12479	187	31	rules	rule	NOUN
cblr-12479	187	32	from	from	ADP
cblr-12479	187	33	which	which	PRON
cblr-12479	187	34	parties	party	NOUN
cblr-12479	187	35	can	can	AUX
cblr-12479	187	36	opt	opt	VERB
cblr-12479	187	37	out	out	ADP
cblr-12479	187	38	,	,	PUNCT
cblr-12479	187	39	rendering	render	VERB
cblr-12479	187	40	cross	cross	ADJ
cblr-12479	187	41	-	-	ADJ
cblr-12479	187	42	jurisdictional	jurisdictional	ADJ
cblr-12479	187	43	differences	difference	NOUN
cblr-12479	187	44	uninfluential.61	uninfluential.61	NOUN
cblr-12479	187	45	however	however	ADV
cblr-12479	187	46	,	,	PUNCT
cblr-12479	187	47	a	a	DET
cblr-12479	187	48	comparative	comparative	ADJ
cblr-12479	187	49	review	review	NOUN
cblr-12479	187	50	of	of	ADP
cblr-12479	187	51	corporate	corporate	ADJ
cblr-12479	187	52	laws	law	NOUN
cblr-12479	187	53	in	in	ADP
cblr-12479	187	54	highly	highly	ADV
cblr-12479	187	55	entrepreneurial	entrepreneurial	ADJ
cblr-12479	187	56	economies	economy	NOUN
cblr-12479	187	57	reveals	reveal	VERB
cblr-12479	187	58	pervasive	pervasive	ADJ
cblr-12479	187	59	(	(	PUNCT
cblr-12479	187	60	often	often	ADV
cblr-12479	187	61	expanding	expand	VERB
cblr-12479	187	62	)	)	PUNCT
cblr-12479	187	63	and	and	CCONJ
cblr-12479	187	64	under	under	ADV
cblr-12479	187	65	-	-	PUNCT
cblr-12479	187	66	examined	examine	VERB
cblr-12479	187	67	differences	difference	NOUN
cblr-12479	187	68	in	in	ADP
cblr-12479	187	69	the	the	DET
cblr-12479	187	70	rules	rule	NOUN
cblr-12479	187	71	that	that	PRON
cblr-12479	187	72	govern	govern	VERB
cblr-12479	187	73	security	security	NOUN
cblr-12479	187	74	design	design	NOUN
cblr-12479	187	75	and	and	CCONJ
cblr-12479	187	76	contingent	contingent	NOUN
cblr-12479	187	77	control	control	NOUN
cblr-12479	187	78	,	,	PUNCT
cblr-12479	187	79	more	more	ADV
cblr-12479	187	80	generally	generally	ADV
cblr-12479	187	81	.	.	PUNCT
cblr-12479	188	1	the	the	DET
cblr-12479	188	2	next	next	ADJ
cblr-12479	188	3	part	part	NOUN
cblr-12479	188	4	examines	examine	VERB
cblr-12479	188	5	those	those	DET
cblr-12479	188	6	differences	difference	NOUN
cblr-12479	188	7	and	and	CCONJ
cblr-12479	188	8	details	detail	NOUN
cblr-12479	188	9	how	how	SCONJ
cblr-12479	188	10	59	59	NUM
cblr-12479	188	11	for	for	ADP
cblr-12479	188	12	a	a	DET
cblr-12479	188	13	detailed	detailed	ADJ
cblr-12479	188	14	and	and	CCONJ
cblr-12479	188	15	critical	critical	ADJ
cblr-12479	188	16	examination	examination	NOUN
cblr-12479	188	17	of	of	ADP
cblr-12479	188	18	the	the	DET
cblr-12479	188	19	methodology	methodology	NOUN
cblr-12479	188	20	,	,	PUNCT
cblr-12479	188	21	see	see	VERB
cblr-12479	188	22	spamann	spamann	NOUN
cblr-12479	188	23	,	,	PUNCT
cblr-12479	188	24	supra	supra	PROPN
cblr-12479	188	25	note	note	NOUN
cblr-12479	188	26	58	58	NUM
cblr-12479	188	27	.	.	PUNCT
cblr-12479	189	1	see	see	VERB
cblr-12479	189	2	also	also	ADV
cblr-12479	189	3	priya	priya	PROPN
cblr-12479	189	4	p.	p.	PROPN
cblr-12479	189	5	lele	lele	PROPN
cblr-12479	189	6	&	&	CCONJ
cblr-12479	189	7	mathias	mathias	PROPN
cblr-12479	189	8	m.	m.	PROPN
cblr-12479	189	9	siems	siems	PROPN
cblr-12479	189	10	,	,	PUNCT
cblr-12479	189	11	shareholder	shareholder	NOUN
cblr-12479	189	12	protection	protection	NOUN
cblr-12479	189	13	:	:	PUNCT
cblr-12479	189	14	a	a	DET
cblr-12479	189	15	leximetric	leximetric	ADJ
cblr-12479	189	16	approach	approach	NOUN
cblr-12479	189	17	,	,	PUNCT
cblr-12479	189	18	7	7	NUM
cblr-12479	189	19	j.	j.	PROPN
cblr-12479	189	20	corp	corp	PROPN
cblr-12479	189	21	.	.	PROPN
cblr-12479	189	22	l.	l.	PROPN
cblr-12479	189	23	stud	stud	PROPN
cblr-12479	189	24	.	.	PUNCT
cblr-12479	190	1	17	17	NUM
cblr-12479	190	2	(	(	PUNCT
cblr-12479	190	3	2007	2007	NUM
cblr-12479	190	4	)	)	PUNCT
cblr-12479	190	5	.	.	PUNCT
cblr-12479	191	1	60	60	NUM
cblr-12479	191	2	daniel	daniel	PROPN
cblr-12479	191	3	berkowitz	berkowitz	PROPN
cblr-12479	191	4	,	,	PUNCT
cblr-12479	191	5	katharina	katharina	PROPN
cblr-12479	191	6	pistor	pistor	PROPN
cblr-12479	191	7	&	&	CCONJ
cblr-12479	191	8	jean	jean	PROPN
cblr-12479	191	9	-	-	PUNCT
cblr-12479	191	10	francois	francois	PROPN
cblr-12479	191	11	richard	richard	PROPN
cblr-12479	191	12	,	,	PUNCT
cblr-12479	191	13	economic	economic	ADJ
cblr-12479	191	14	development	development	NOUN
cblr-12479	191	15	,	,	PUNCT
cblr-12479	191	16	legality	legality	NOUN
cblr-12479	191	17	,	,	PUNCT
cblr-12479	191	18	and	and	CCONJ
cblr-12479	191	19	the	the	DET
cblr-12479	191	20	transplant	transplant	NOUN
cblr-12479	191	21	effect	effect	NOUN
cblr-12479	191	22	,	,	PUNCT
cblr-12479	191	23	47	47	NUM
cblr-12479	191	24	eur	eur	NOUN
cblr-12479	191	25	.	.	PUNCT
cblr-12479	192	1	econ	econ	PROPN
cblr-12479	192	2	.	.	PUNCT
cblr-12479	193	1	rev	rev	PROPN
cblr-12479	193	2	.	.	PROPN
cblr-12479	193	3	165	165	NUM
cblr-12479	193	4	,	,	PUNCT
cblr-12479	193	5	181–82	181–82	NUM
cblr-12479	193	6	(	(	PUNCT
cblr-12479	193	7	2003	2003	NUM
cblr-12479	193	8	)	)	PUNCT
cblr-12479	194	1	(	(	PUNCT
cblr-12479	194	2	“	"	PUNCT
cblr-12479	194	3	in	in	ADP
cblr-12479	194	4	order	order	NOUN
cblr-12479	194	5	to	to	PART
cblr-12479	194	6	measure	measure	VERB
cblr-12479	194	7	legality	legality	NOUN
cblr-12479	194	8	,	,	PUNCT
cblr-12479	194	9	we	we	PRON
cblr-12479	194	10	first	first	ADV
cblr-12479	194	11	use	use	VERB
cblr-12479	194	12	the	the	DET
cblr-12479	194	13	same	same	ADJ
cblr-12479	194	14	survey	survey	NOUN
cblr-12479	194	15	data	datum	NOUN
cblr-12479	194	16	measuring	measure	VERB
cblr-12479	194	17	the	the	DET
cblr-12479	194	18	effectiveness	effectiveness	NOUN
cblr-12479	194	19	of	of	ADP
cblr-12479	194	20	the	the	DET
cblr-12479	194	21	judiciary	judiciary	NOUN
cblr-12479	194	22	,	,	PUNCT
cblr-12479	194	23	rule	rule	NOUN
cblr-12479	194	24	of	of	ADP
cblr-12479	194	25	law	law	NOUN
cblr-12479	194	26	,	,	PUNCT
cblr-12479	194	27	the	the	DET
cblr-12479	194	28	absence	absence	NOUN
cblr-12479	194	29	of	of	ADP
cblr-12479	194	30	corruption	corruption	NOUN
cblr-12479	194	31	,	,	PUNCT
cblr-12479	194	32	low	low	ADJ
cblr-12479	194	33	risk	risk	NOUN
cblr-12479	194	34	of	of	ADP
cblr-12479	194	35	contract	contract	NOUN
cblr-12479	194	36	repudiation	repudiation	NOUN
cblr-12479	194	37	and	and	CCONJ
cblr-12479	194	38	low	low	ADJ
cblr-12479	194	39	risk	risk	NOUN
cblr-12479	194	40	of	of	ADP
cblr-12479	194	41	government	government	NOUN
cblr-12479	194	42	expropriation	expropriation	NOUN
cblr-12479	194	43	observed	observe	VERB
cblr-12479	194	44	during	during	ADP
cblr-12479	194	45	1980–95	1980–95	NUM
cblr-12479	194	46	employed	employ	VERB
cblr-12479	194	47	by	by	ADP
cblr-12479	194	48	[	[	X
cblr-12479	194	49	la	la	INTJ
cblr-12479	194	50	porta	porta	PROPN
cblr-12479	194	51	,	,	PUNCT
cblr-12479	194	52	lopez	lopez	NOUN
cblr-12479	194	53	-	-	PUNCT
cblr-12479	194	54	de	de	NOUN
cblr-12479	194	55	-	-	NOUN
cblr-12479	194	56	silanes	silane	NOUN
cblr-12479	194	57	,	,	PUNCT
cblr-12479	194	58	shleifer	shleifer	NOUN
cblr-12479	194	59	and	and	CCONJ
cblr-12479	194	60	vishny	vishny	PROPN
cblr-12479	194	61	]	]	PUNCT
cblr-12479	194	62	”	"	PUNCT
cblr-12479	194	63	)	)	PUNCT
cblr-12479	194	64	.	.	PUNCT
cblr-12479	195	1	61	61	NUM
cblr-12479	195	2	pereira	pereira	PROPN
cblr-12479	195	3	,	,	PUNCT
cblr-12479	195	4	supra	supra	PROPN
cblr-12479	195	5	note	note	NOUN
cblr-12479	195	6	2	2	NUM
cblr-12479	195	7	.	.	NOUN
cblr-12479	195	8	692	692	NUM
cblr-12479	195	9	columbia	columbia	PROPN
cblr-12479	195	10	business	business	NOUN
cblr-12479	195	11	law	law	PROPN
cblr-12479	195	12	review	review	NOUN
cblr-12479	195	13	[	[	X
cblr-12479	195	14	vol	vol	NOUN
cblr-12479	195	15	.	.	PUNCT
cblr-12479	195	16	2023	2023	NUM
cblr-12479	195	17	they	they	PRON
cblr-12479	195	18	influence	influence	VERB
cblr-12479	195	19	the	the	DET
cblr-12479	195	20	allocation	allocation	NOUN
cblr-12479	195	21	and	and	CCONJ
cblr-12479	195	22	legal	legal	ADJ
cblr-12479	195	23	structure	structure	NOUN
cblr-12479	195	24	of	of	ADP
cblr-12479	195	25	control	control	NOUN
cblr-12479	195	26	in	in	ADP
cblr-12479	195	27	vc	vc	PROPN
cblr-12479	195	28	-	-	PUNCT
cblr-12479	195	29	backed	back	VERB
cblr-12479	195	30	companies	company	NOUN
cblr-12479	195	31	.	.	PUNCT
cblr-12479	196	1	iii	iii	X
cblr-12479	196	2	.	.	PUNCT
cblr-12479	197	1	the	the	DET
cblr-12479	197	2	corporate	corporate	ADJ
cblr-12479	197	3	law	law	NOUN
cblr-12479	197	4	determinants	determinant	NOUN
cblr-12479	197	5	of	of	ADP
cblr-12479	197	6	control	control	NOUN
cblr-12479	197	7	successful	successful	ADJ
cblr-12479	197	8	venture	venture	NOUN
cblr-12479	197	9	financial	financial	ADJ
cblr-12479	197	10	agreements	agreement	NOUN
cblr-12479	197	11	have	have	VERB
cblr-12479	197	12	two	two	NUM
cblr-12479	197	13	characteristics	characteristic	NOUN
cblr-12479	197	14	:	:	PUNCT
cblr-12479	197	15	(	(	PUNCT
cblr-12479	197	16	i	i	NOUN
cblr-12479	197	17	)	)	PUNCT
cblr-12479	197	18	they	they	PRON
cblr-12479	197	19	separate	separate	VERB
cblr-12479	197	20	cash	cash	NOUN
cblr-12479	197	21	flow	flow	NOUN
cblr-12479	197	22	from	from	ADP
cblr-12479	197	23	control	control	NOUN
cblr-12479	197	24	rights	right	NOUN
cblr-12479	197	25	,	,	PUNCT
cblr-12479	197	26	and	and	CCONJ
cblr-12479	197	27	(	(	PUNCT
cblr-12479	197	28	ii	ii	NOUN
cblr-12479	197	29	)	)	PUNCT
cblr-12479	197	30	they	they	PRON
cblr-12479	197	31	condition	condition	VERB
cblr-12479	197	32	the	the	DET
cblr-12479	197	33	allocation	allocation	NOUN
cblr-12479	197	34	and	and	CCONJ
cblr-12479	197	35	exercise	exercise	NOUN
cblr-12479	197	36	of	of	ADP
cblr-12479	197	37	those	those	DET
cblr-12479	197	38	rights	right	NOUN
cblr-12479	197	39	to	to	PART
cblr-12479	197	40	observable	observable	ADJ
cblr-12479	197	41	and	and	CCONJ
cblr-12479	197	42	verifiable	verifiable	ADJ
cblr-12479	197	43	measures	measure	NOUN
cblr-12479	197	44	of	of	ADP
cblr-12479	197	45	financial	financial	ADJ
cblr-12479	197	46	and	and	CCONJ
cblr-12479	197	47	non	non	ADJ
cblr-12479	197	48	-	-	ADJ
cblr-12479	197	49	financial	financial	ADJ
cblr-12479	197	50	performance	performance	NOUN
cblr-12479	197	51	.	.	PUNCT
cblr-12479	198	1	this	this	DET
cblr-12479	198	2	strategy	strategy	NOUN
cblr-12479	198	3	resembles	resemble	VERB
cblr-12479	198	4	a	a	DET
cblr-12479	198	5	socially	socially	ADV
cblr-12479	198	6	efficient	efficient	ADJ
cblr-12479	198	7	contract	contract	NOUN
cblr-12479	198	8	—	—	PUNCT
cblr-12479	198	9	one	one	NUM
cblr-12479	198	10	in	in	ADP
cblr-12479	198	11	which	which	DET
cblr-12479	198	12	decision	decision	NOUN
cblr-12479	198	13	-	-	PUNCT
cblr-12479	198	14	making	make	VERB
cblr-12479	198	15	authority	authority	NOUN
cblr-12479	198	16	is	be	AUX
cblr-12479	198	17	allocated	allocate	VERB
cblr-12479	198	18	to	to	ADP
cblr-12479	198	19	the	the	DET
cblr-12479	198	20	party	party	NOUN
cblr-12479	198	21	that	that	PRON
cblr-12479	198	22	is	be	AUX
cblr-12479	198	23	more	more	ADV
cblr-12479	198	24	likely	likely	ADJ
cblr-12479	198	25	to	to	PART
cblr-12479	198	26	use	use	VERB
cblr-12479	198	27	it	it	PRON
cblr-12479	198	28	in	in	ADP
cblr-12479	198	29	the	the	DET
cblr-12479	198	30	interest	interest	NOUN
cblr-12479	198	31	of	of	ADP
cblr-12479	198	32	the	the	DET
cblr-12479	198	33	venture	venture	NOUN
cblr-12479	198	34	at	at	ADP
cblr-12479	198	35	crucial	crucial	ADJ
cblr-12479	198	36	moments	moment	NOUN
cblr-12479	198	37	,	,	PUNCT
cblr-12479	198	38	strengthening	strengthen	VERB
cblr-12479	198	39	incentives	incentive	NOUN
cblr-12479	198	40	to	to	PART
cblr-12479	198	41	maximize	maximize	VERB
cblr-12479	198	42	the	the	DET
cblr-12479	198	43	efforts	effort	NOUN
cblr-12479	198	44	invested	invest	VERB
cblr-12479	198	45	in	in	ADP
cblr-12479	198	46	the	the	DET
cblr-12479	198	47	firm	firm	NOUN
cblr-12479	198	48	.	.	PUNCT
cblr-12479	199	1	empirical	empirical	ADJ
cblr-12479	199	2	studies,62	studies,62	NOUN
cblr-12479	199	3	legal	legal	ADJ
cblr-12479	199	4	practitioners,63	practitioners,63	NOUN
cblr-12479	199	5	and	and	CCONJ
cblr-12479	199	6	vc	vc	PROPN
cblr-12479	199	7	organizations,64	organizations,64	PROPN
cblr-12479	199	8	attest	attest	NOUN
cblr-12479	199	9	that	that	SCONJ
cblr-12479	199	10	the	the	DET
cblr-12479	199	11	separation	separation	NOUN
cblr-12479	199	12	of	of	ADP
cblr-12479	199	13	cash	cash	NOUN
cblr-12479	199	14	flow	flow	NOUN
cblr-12479	199	15	from	from	ADP
cblr-12479	199	16	control	control	NOUN
cblr-12479	199	17	rights	right	NOUN
cblr-12479	199	18	and	and	CCONJ
cblr-12479	199	19	the	the	DET
cblr-12479	199	20	conditional	conditional	ADJ
cblr-12479	199	21	allocation	allocation	NOUN
cblr-12479	199	22	of	of	ADP
cblr-12479	199	23	such	such	ADJ
cblr-12479	199	24	rights	right	NOUN
cblr-12479	199	25	to	to	ADP
cblr-12479	199	26	founders	founder	NOUN
cblr-12479	199	27	,	,	PUNCT
cblr-12479	199	28	employees	employee	NOUN
cblr-12479	199	29	,	,	PUNCT
cblr-12479	199	30	and	and	CCONJ
cblr-12479	199	31	investors	investor	NOUN
cblr-12479	199	32	—	—	PUNCT
cblr-12479	199	33	i.e.	i.e.	X
cblr-12479	199	34	,	,	PUNCT
cblr-12479	199	35	contingent	contingent	ADJ
cblr-12479	199	36	control	control	NOUN
cblr-12479	199	37	—	—	PUNCT
cblr-12479	199	38	is	be	AUX
cblr-12479	199	39	legally	legally	ADV
cblr-12479	199	40	achieved	achieve	VERB
cblr-12479	199	41	through	through	ADP
cblr-12479	199	42	a	a	DET
cblr-12479	199	43	combination	combination	NOUN
cblr-12479	199	44	of	of	ADP
cblr-12479	199	45	contracts	contract	NOUN
cblr-12479	199	46	and	and	CCONJ
cblr-12479	199	47	62	62	NUM
cblr-12479	199	48	see	see	VERB
cblr-12479	199	49	supra	supra	PROPN
cblr-12479	199	50	part	part	PROPN
cblr-12479	199	51	ii	ii	PROPN
cblr-12479	199	52	.	.	PROPN
cblr-12479	199	53	63	63	NUM
cblr-12479	199	54	see	see	VERB
cblr-12479	199	55	startup	startup	NOUN
cblr-12479	199	56	venture	venture	NOUN
cblr-12479	199	57	finance	finance	NOUN
cblr-12479	199	58	:	:	PUNCT
cblr-12479	199	59	overview	overview	NOUN
cblr-12479	199	60	,	,	PUNCT
cblr-12479	199	61	thomson	thomson	PROPN
cblr-12479	199	62	reuters	reuters	PROPN
cblr-12479	199	63	practical	practical	ADJ
cblr-12479	199	64	law	law	NOUN
cblr-12479	199	65	uk	uk	PROPN
cblr-12479	199	66	(	(	PUNCT
cblr-12479	199	67	aug	aug	PROPN
cblr-12479	199	68	.	.	PROPN
cblr-12479	199	69	1	1	NUM
cblr-12479	199	70	,	,	PUNCT
cblr-12479	199	71	2020	2020	NUM
cblr-12479	199	72	)	)	PUNCT
cblr-12479	199	73	,	,	PUNCT
cblr-12479	199	74	https://uk.practicallaw.thomsonreuters.com/w-0004934?originationcontext=document&transitiontype=documentitem&cont	https://uk.practicallaw.thomsonreuters.com/w-0004934?originationcontext=document&transitiontype=documentitem&cont	ADJ
cblr-12479	199	75	extdata=(sc.default)&ppcid	extdata=(sc.default)&ppcid	PROPN
cblr-12479	199	76	=	=	SYM
cblr-12479	199	77	b1ad59ec64c847cab3ad70e3ac872c71&comp=	b1ad59ec64c847cab3ad70e3ac872c71&comp=	PROPN
cblr-12479	199	78	pluk&owsessionid=845a7fbceba144d596dfb3d315ca3407&skipanonymou	pluk&owsessionid=845a7fbceba144d596dfb3d315ca3407&skipanonymou	NOUN
cblr-12479	199	79	s	s	NOUN
cblr-12479	199	80	=	=	NOUN
cblr-12479	199	81	true&firstpage	true&firstpage	NOUN
cblr-12479	199	82	=	=	NOUN
cblr-12479	199	83	true	true	ADJ
cblr-12479	199	84	[	[	X
cblr-12479	199	85	https://perma.cc/4wjd-nl88	https://perma.cc/4wjd-nl88	X
cblr-12479	199	86	]	]	X
cblr-12479	199	87	(	(	PUNCT
cblr-12479	199	88	presenting	present	VERB
cblr-12479	199	89	a	a	DET
cblr-12479	199	90	comparative	comparative	ADJ
cblr-12479	199	91	market	market	NOUN
cblr-12479	199	92	and	and	CCONJ
cblr-12479	199	93	regulatory	regulatory	ADJ
cblr-12479	199	94	overview	overview	NOUN
cblr-12479	199	95	developed	develop	VERB
cblr-12479	199	96	by	by	ADP
cblr-12479	199	97	practitioners	practitioner	NOUN
cblr-12479	199	98	of	of	ADP
cblr-12479	199	99	10	10	NUM
cblr-12479	199	100	european	european	ADJ
cblr-12479	199	101	and	and	CCONJ
cblr-12479	199	102	north	north	ADJ
cblr-12479	199	103	american	american	ADJ
cblr-12479	199	104	jurisdictions	jurisdiction	NOUN
cblr-12479	199	105	)	)	PUNCT
cblr-12479	199	106	.	.	PUNCT
cblr-12479	200	1	64	64	NUM
cblr-12479	200	2	see	see	VERB
cblr-12479	200	3	,	,	PUNCT
cblr-12479	200	4	e.g.	e.g.	ADV
cblr-12479	200	5	,	,	PUNCT
cblr-12479	200	6	model	model	NOUN
cblr-12479	200	7	documents	document	NOUN
cblr-12479	200	8	for	for	ADP
cblr-12479	200	9	early	early	ADJ
cblr-12479	200	10	-	-	PUNCT
cblr-12479	200	11	stage	stage	NOUN
cblr-12479	200	12	investments	investment	NOUN
cblr-12479	200	13	,	,	PUNCT
cblr-12479	200	14	brit	brit	NOUN
cblr-12479	200	15	.	.	PUNCT
cblr-12479	201	1	venture	venture	NOUN
cblr-12479	201	2	cap	cap	NOUN
cblr-12479	201	3	.	.	PUNCT
cblr-12479	202	1	ass’n	ass’n	PROPN
cblr-12479	202	2	(	(	PUNCT
cblr-12479	202	3	feb	feb	PROPN
cblr-12479	202	4	.	.	PROPN
cblr-12479	202	5	2023	2023	NUM
cblr-12479	202	6	)	)	PUNCT
cblr-12479	202	7	,	,	PUNCT
cblr-12479	202	8	https://www.bvca.co.uk/policy/tax-legaland-regulatory/industry-guidance-standardised-documents/modeldocuments-for-early-stage-investments	https://www.bvca.co.uk/policy/tax-legaland-regulatory/industry-guidance-standardised-documents/modeldocuments-for-early-stage-investment	NOUN
cblr-12479	203	1	[	[	X
cblr-12479	203	2	https://perma.cc/n65b-d2sl	https://perma.cc/n65b-d2sl	PROPN
cblr-12479	203	3	]	]	PUNCT
cblr-12479	203	4	;	;	PUNCT
cblr-12479	203	5	michael	michael	PROPN
cblr-12479	203	6	reid	reid	PROPN
cblr-12479	203	7	&	&	CCONJ
cblr-12479	203	8	christopher	christopher	PROPN
cblr-12479	203	9	pejovic	pejovic	PROPN
cblr-12479	203	10	,	,	PUNCT
cblr-12479	203	11	cvca	cvca	VERB
cblr-12479	203	12	model	model	NOUN
cblr-12479	203	13	documents	document	NOUN
cblr-12479	203	14	:	:	PUNCT
cblr-12479	203	15	use	use	VERB
cblr-12479	203	16	freely	freely	ADV
cblr-12479	203	17	and	and	CCONJ
cblr-12479	203	18	with	with	ADP
cblr-12479	203	19	caution	caution	NOUN
cblr-12479	203	20	,	,	PUNCT
cblr-12479	203	21	dla	dla	NOUN
cblr-12479	203	22	piper	piper	NOUN
cblr-12479	203	23	(	(	PUNCT
cblr-12479	203	24	mar	mar	PROPN
cblr-12479	203	25	.	.	PROPN
cblr-12479	203	26	22	22	NUM
cblr-12479	203	27	,	,	PUNCT
cblr-12479	203	28	2021	2021	NUM
cblr-12479	203	29	)	)	PUNCT
cblr-12479	203	30	,	,	PUNCT
cblr-12479	203	31	https://www.dlapiper.com/en/canada/insights/publications/2021/03/cvcamodel-documents	https://www.dlapiper.com/en/canada/insights/publications/2021/03/cvcamodel-document	NOUN
cblr-12479	204	1	[	[	X
cblr-12479	204	2	https://perma.cc/a977-gb7w	https://perma.cc/a977-gb7w	X
cblr-12479	204	3	]	]	X
cblr-12479	204	4	;	;	PUNCT
cblr-12479	205	1	model	model	ADJ
cblr-12479	205	2	legal	legal	ADJ
cblr-12479	205	3	documents	document	NOUN
cblr-12479	205	4	,	,	PUNCT
cblr-12479	205	5	nat’l	nat’l	NOUN
cblr-12479	205	6	venture	venture	NOUN
cblr-12479	205	7	cap	cap	NOUN
cblr-12479	205	8	.	.	PUNCT
cblr-12479	206	1	ass’ns	ass’ns	PROPN
cblr-12479	206	2	,	,	PUNCT
cblr-12479	206	3	https://nvca.org/resources/model-legaldocuments/	https://nvca.org/resources/model-legaldocuments/	PROPN
cblr-12479	206	4	[	[	X
cblr-12479	206	5	https://perma.cc/99ta-ugsu	https://perma.cc/99ta-ugsu	X
cblr-12479	206	6	]	]	X
cblr-12479	206	7	(	(	PUNCT
cblr-12479	206	8	last	last	ADV
cblr-12479	206	9	visited	visit	VERB
cblr-12479	206	10	june	june	PROPN
cblr-12479	206	11	1	1	NUM
cblr-12479	206	12	,	,	PUNCT
cblr-12479	206	13	2023	2023	NUM
cblr-12479	206	14	)	)	PUNCT
cblr-12479	206	15	.	.	PUNCT
cblr-12479	207	1	no	no	INTJ
cblr-12479	207	2	.	.	NOUN
cblr-12479	208	1	2	2	NUM
cblr-12479	208	2	]	]	PUNCT
cblr-12479	208	3	the	the	DET
cblr-12479	208	4	law	law	NOUN
cblr-12479	208	5	of	of	ADP
cblr-12479	208	6	contingent	contingent	NOUN
cblr-12479	208	7	control	control	VERB
cblr-12479	208	8	693	693	NUM
cblr-12479	208	9	bespoke	bespoke	NOUN
cblr-12479	208	10	securities	security	NOUN
cblr-12479	208	11	,	,	PUNCT
cblr-12479	208	12	including	include	VERB
cblr-12479	208	13	common	common	ADJ
cblr-12479	208	14	shares	share	NOUN
cblr-12479	208	15	with	with	ADP
cblr-12479	208	16	restrictions	restriction	NOUN
cblr-12479	208	17	and	and	CCONJ
cblr-12479	208	18	various	various	ADJ
cblr-12479	208	19	types	type	NOUN
cblr-12479	208	20	of	of	ADP
cblr-12479	208	21	preferred	preferred	ADJ
cblr-12479	208	22	shares	share	NOUN
cblr-12479	208	23	.	.	PUNCT
cblr-12479	209	1	by	by	ADP
cblr-12479	209	2	defining	define	VERB
cblr-12479	209	3	the	the	DET
cblr-12479	209	4	scope	scope	NOUN
cblr-12479	209	5	of	of	ADP
cblr-12479	209	6	corporate	corporate	ADJ
cblr-12479	209	7	governance	governance	NOUN
cblr-12479	209	8	arrangements	arrangement	NOUN
cblr-12479	209	9	via	via	ADP
cblr-12479	209	10	contracts	contract	NOUN
cblr-12479	209	11	or	or	CCONJ
cblr-12479	209	12	security	security	NOUN
cblr-12479	209	13	design	design	NOUN
cblr-12479	209	14	,	,	PUNCT
cblr-12479	209	15	corporate	corporate	ADJ
cblr-12479	209	16	law	law	NOUN
cblr-12479	209	17	determines	determine	VERB
cblr-12479	209	18	the	the	DET
cblr-12479	209	19	range	range	NOUN
cblr-12479	209	20	of	of	ADP
cblr-12479	209	21	bargains	bargain	NOUN
cblr-12479	209	22	and	and	CCONJ
cblr-12479	209	23	agreements	agreement	NOUN
cblr-12479	209	24	on	on	ADP
cblr-12479	209	25	control	control	NOUN
cblr-12479	209	26	in	in	ADP
cblr-12479	209	27	vc	vc	PROPN
cblr-12479	209	28	investments	investment	NOUN
cblr-12479	209	29	(	(	PUNCT
cblr-12479	209	30	and	and	CCONJ
cblr-12479	209	31	,	,	PUNCT
cblr-12479	209	32	therefore	therefore	ADV
cblr-12479	209	33	,	,	PUNCT
cblr-12479	209	34	the	the	DET
cblr-12479	209	35	range	range	NOUN
cblr-12479	209	36	of	of	ADP
cblr-12479	209	37	firms	firm	NOUN
cblr-12479	209	38	that	that	PRON
cblr-12479	209	39	can	can	AUX
cblr-12479	209	40	be	be	AUX
cblr-12479	209	41	financed	finance	VERB
cblr-12479	209	42	with	with	ADP
cblr-12479	209	43	it	it	PRON
cblr-12479	209	44	)	)	PUNCT
cblr-12479	209	45	in	in	ADP
cblr-12479	209	46	at	at	ADV
cblr-12479	209	47	least	least	ADV
cblr-12479	209	48	three	three	NUM
cblr-12479	209	49	ways	way	NOUN
cblr-12479	209	50	.	.	PUNCT
cblr-12479	210	1	first	first	ADV
cblr-12479	210	2	,	,	PUNCT
cblr-12479	210	3	it	it	PRON
cblr-12479	210	4	determines	determine	VERB
cblr-12479	210	5	the	the	DET
cblr-12479	210	6	extent	extent	NOUN
cblr-12479	210	7	to	to	PART
cblr-12479	210	8	which	which	PRON
cblr-12479	210	9	cash	cash	NOUN
cblr-12479	210	10	flow	flow	NOUN
cblr-12479	210	11	and	and	CCONJ
cblr-12479	210	12	control	control	NOUN
cblr-12479	210	13	rights	right	NOUN
cblr-12479	210	14	can	can	AUX
cblr-12479	210	15	be	be	AUX
cblr-12479	210	16	separated	separate	VERB
cblr-12479	210	17	.	.	PUNCT
cblr-12479	211	1	second	second	ADJ
cblr-12479	211	2	,	,	PUNCT
cblr-12479	211	3	it	it	PRON
cblr-12479	211	4	governs	govern	VERB
cblr-12479	211	5	shareholders	shareholder	NOUN
cblr-12479	211	6	’	’	PART
cblr-12479	211	7	voting	voting	NOUN
cblr-12479	211	8	and	and	CCONJ
cblr-12479	211	9	board	board	NOUN
cblr-12479	211	10	representation	representation	NOUN
cblr-12479	211	11	rights	right	NOUN
cblr-12479	211	12	,	,	PUNCT
cblr-12479	211	13	the	the	DET
cblr-12479	211	14	main	main	ADJ
cblr-12479	211	15	forms	form	NOUN
cblr-12479	211	16	of	of	ADP
cblr-12479	211	17	control	control	NOUN
cblr-12479	211	18	in	in	ADP
cblr-12479	211	19	vc	vc	PROPN
cblr-12479	211	20	finance	finance	NOUN
cblr-12479	211	21	.	.	PUNCT
cblr-12479	212	1	third	third	ADJ
cblr-12479	212	2	,	,	PUNCT
cblr-12479	212	3	corporate	corporate	ADJ
cblr-12479	212	4	law	law	NOUN
cblr-12479	212	5	determines	determine	VERB
cblr-12479	212	6	whether	whether	SCONJ
cblr-12479	212	7	exercising	exercise	VERB
cblr-12479	212	8	those	those	DET
cblr-12479	212	9	rights	right	NOUN
cblr-12479	212	10	can	can	AUX
cblr-12479	212	11	be	be	AUX
cblr-12479	212	12	contingent	contingent	ADJ
cblr-12479	212	13	on	on	ADP
cblr-12479	212	14	performance	performance	NOUN
cblr-12479	212	15	measures	measure	NOUN
cblr-12479	212	16	.	.	PUNCT
cblr-12479	213	1	this	this	DET
cblr-12479	213	2	part	part	NOUN
cblr-12479	213	3	considers	consider	VERB
cblr-12479	213	4	how	how	SCONJ
cblr-12479	213	5	different	different	ADJ
cblr-12479	213	6	regulatory	regulatory	ADJ
cblr-12479	213	7	configurations	configuration	NOUN
cblr-12479	213	8	might	might	AUX
cblr-12479	213	9	limit	limit	VERB
cblr-12479	213	10	the	the	DET
cblr-12479	213	11	range	range	NOUN
cblr-12479	213	12	of	of	ADP
cblr-12479	213	13	efficient	efficient	ADJ
cblr-12479	213	14	contracting	contracting	NOUN
cblr-12479	213	15	in	in	ADP
cblr-12479	213	16	the	the	DET
cblr-12479	213	17	first	first	ADJ
cblr-12479	213	18	two	two	NUM
cblr-12479	213	19	categories	category	NOUN
cblr-12479	213	20	.	.	PUNCT
cblr-12479	214	1	part	part	NOUN
cblr-12479	214	2	iv	iv	NUM
cblr-12479	214	3	deals	deal	NOUN
cblr-12479	214	4	with	with	ADP
cblr-12479	214	5	contingent	contingent	ADJ
cblr-12479	214	6	control	control	NOUN
cblr-12479	214	7	.	.	PUNCT
cblr-12479	215	1	a.	a.	NOUN
cblr-12479	215	2	separation	separation	NOUN
cblr-12479	215	3	of	of	ADP
cblr-12479	215	4	cash	cash	NOUN
cblr-12479	215	5	flow	flow	NOUN
cblr-12479	215	6	from	from	ADP
cblr-12479	215	7	control	control	NOUN
cblr-12479	215	8	a	a	DET
cblr-12479	215	9	default	default	NOUN
cblr-12479	215	10	provision	provision	NOUN
cblr-12479	215	11	in	in	ADP
cblr-12479	215	12	corporate	corporate	ADJ
cblr-12479	215	13	law	law	NOUN
cblr-12479	215	14	is	be	AUX
cblr-12479	215	15	that	that	SCONJ
cblr-12479	215	16	each	each	DET
cblr-12479	215	17	share	share	NOUN
cblr-12479	215	18	encompasses	encompass	VERB
cblr-12479	215	19	an	an	DET
cblr-12479	215	20	equal	equal	ADJ
cblr-12479	215	21	amount	amount	NOUN
cblr-12479	215	22	of	of	ADP
cblr-12479	215	23	cash	cash	NOUN
cblr-12479	215	24	flow	flow	NOUN
cblr-12479	215	25	and	and	CCONJ
cblr-12479	215	26	control	control	NOUN
cblr-12479	215	27	rights.65	rights.65	PROPN
cblr-12479	215	28	this	this	DET
cblr-12479	215	29	rule	rule	NOUN
cblr-12479	215	30	,	,	PUNCT
cblr-12479	215	31	commonly	commonly	ADV
cblr-12479	215	32	referred	refer	VERB
cblr-12479	215	33	to	to	ADP
cblr-12479	215	34	as	as	SCONJ
cblr-12479	215	35	one	one	NUM
cblr-12479	215	36	-	-	PUNCT
cblr-12479	215	37	share	share	NOUN
cblr-12479	215	38	onevote	onevote	ADJ
cblr-12479	215	39	,	,	PUNCT
cblr-12479	215	40	is	be	AUX
cblr-12479	215	41	generally	generally	ADV
cblr-12479	215	42	justified	justify	VERB
cblr-12479	215	43	in	in	ADP
cblr-12479	215	44	the	the	DET
cblr-12479	215	45	notion	notion	NOUN
cblr-12479	215	46	that	that	SCONJ
cblr-12479	215	47	decision	decision	NOUN
cblr-12479	215	48	-	-	PUNCT
cblr-12479	215	49	making	make	VERB
cblr-12479	215	50	power	power	NOUN
cblr-12479	215	51	should	should	AUX
cblr-12479	215	52	match	match	VERB
cblr-12479	215	53	economic	economic	ADJ
cblr-12479	215	54	incentives	incentive	NOUN
cblr-12479	215	55	;	;	PUNCT
cblr-12479	215	56	in	in	ADP
cblr-12479	215	57	other	other	ADJ
cblr-12479	215	58	words	word	NOUN
cblr-12479	215	59	,	,	PUNCT
cblr-12479	215	60	shareholders	shareholder	NOUN
cblr-12479	215	61	should	should	AUX
cblr-12479	215	62	be	be	AUX
cblr-12479	215	63	able	able	ADJ
cblr-12479	215	64	to	to	PART
cblr-12479	215	65	voice	voice	VERB
cblr-12479	215	66	their	their	PRON
cblr-12479	215	67	opinion	opinion	NOUN
cblr-12479	215	68	in	in	ADP
cblr-12479	215	69	proportion	proportion	NOUN
cblr-12479	215	70	to	to	ADP
cblr-12479	215	71	their	their	PRON
cblr-12479	215	72	owned	own	VERB
cblr-12479	215	73	risk	risk	NOUN
cblr-12479	215	74	capital.66	capital.66	ADP
cblr-12479	215	75	the	the	DET
cblr-12479	215	76	benefits	benefit	NOUN
cblr-12479	215	77	and	and	CCONJ
cblr-12479	215	78	perils	peril	NOUN
cblr-12479	215	79	of	of	ADP
cblr-12479	215	80	deviating	deviate	VERB
cblr-12479	215	81	from	from	ADP
cblr-12479	215	82	this	this	DET
cblr-12479	215	83	rule	rule	NOUN
cblr-12479	215	84	have	have	AUX
cblr-12479	215	85	been	be	AUX
cblr-12479	215	86	considered	consider	VERB
cblr-12479	215	87	by	by	ADP
cblr-12479	215	88	a	a	DET
cblr-12479	215	89	vast	vast	ADJ
cblr-12479	215	90	literature	literature	NOUN
cblr-12479	215	91	on	on	ADP
cblr-12479	215	92	the	the	DET
cblr-12479	215	93	theory	theory	NOUN
cblr-12479	215	94	of	of	ADP
cblr-12479	215	95	the	the	DET
cblr-12479	215	96	firm	firm	NOUN
cblr-12479	215	97	and	and	CCONJ
cblr-12479	215	98	,	,	PUNCT
cblr-12479	215	99	more	more	ADV
cblr-12479	215	100	recently	recently	ADV
cblr-12479	215	101	,	,	PUNCT
cblr-12479	215	102	by	by	ADP
cblr-12479	215	103	the	the	DET
cblr-12479	215	104	comparative	comparative	ADJ
cblr-12479	215	105	corporate	corporate	ADJ
cblr-12479	215	106	governance	governance	NOUN
cblr-12479	215	107	literature.67	literature.67	NOUN
cblr-12479	215	108	still	still	ADV
cblr-12479	215	109	,	,	PUNCT
cblr-12479	215	110	much	much	ADJ
cblr-12479	215	111	of	of	ADP
cblr-12479	215	112	this	this	DET
cblr-12479	215	113	work	work	NOUN
cblr-12479	215	114	has	have	AUX
cblr-12479	215	115	focused	focus	VERB
cblr-12479	215	116	on	on	ADP
cblr-12479	215	117	listed	list	VERB
cblr-12479	215	118	firms	firm	NOUN
cblr-12479	215	119	and	and	CCONJ
cblr-12479	215	120	problems	problem	NOUN
cblr-12479	215	121	specific	specific	ADJ
cblr-12479	215	122	to	to	ADP
cblr-12479	215	123	them	they	PRON
cblr-12479	215	124	,	,	PUNCT
cblr-12479	215	125	and	and	CCONJ
cblr-12479	215	126	not	not	PART
cblr-12479	215	127	on	on	ADP
cblr-12479	215	128	its	its	PRON
cblr-12479	215	129	impact	impact	NOUN
cblr-12479	215	130	on	on	ADP
cblr-12479	215	131	non	non	ADJ
cblr-12479	215	132	-	-	ADJ
cblr-12479	215	133	listed	listed	ADJ
cblr-12479	215	134	companies	company	NOUN
cblr-12479	215	135	with	with	ADP
cblr-12479	215	136	fast	fast	ADV
cblr-12479	215	137	-	-	PUNCT
cblr-12479	215	138	growing	grow	VERB
cblr-12479	215	139	valuations	valuation	NOUN
cblr-12479	215	140	and	and	CCONJ
cblr-12479	215	141	stakeholders	stakeholder	NOUN
cblr-12479	215	142	.	.	PUNCT
cblr-12479	216	1	65	65	NUM
cblr-12479	216	2	frank	frank	PROPN
cblr-12479	216	3	h.	h.	PROPN
cblr-12479	216	4	easterbrook	easterbrook	PROPN
cblr-12479	216	5	&	&	CCONJ
cblr-12479	216	6	daniel	daniel	PROPN
cblr-12479	216	7	r.	r.	PROPN
cblr-12479	216	8	fischel	fischel	PROPN
cblr-12479	216	9	,	,	PUNCT
cblr-12479	216	10	voting	vote	VERB
cblr-12479	216	11	in	in	ADP
cblr-12479	216	12	corporate	corporate	ADJ
cblr-12479	216	13	law	law	NOUN
cblr-12479	216	14	,	,	PUNCT
cblr-12479	216	15	26	26	NUM
cblr-12479	216	16	j.l	j.l	PROPN
cblr-12479	216	17	.	.	PROPN
cblr-12479	216	18	&	&	CCONJ
cblr-12479	216	19	econ	econ	PROPN
cblr-12479	216	20	.	.	PUNCT
cblr-12479	217	1	395	395	NUM
cblr-12479	217	2	,	,	PUNCT
cblr-12479	217	3	399	399	NUM
cblr-12479	217	4	(	(	PUNCT
cblr-12479	217	5	1983	1983	NUM
cblr-12479	217	6	)	)	PUNCT
cblr-12479	217	7	;	;	PUNCT
cblr-12479	217	8	see	see	VERB
cblr-12479	217	9	also	also	ADV
cblr-12479	217	10	marco	marco	PROPN
cblr-12479	217	11	ventoruzzo	ventoruzzo	PROPN
cblr-12479	217	12	,	,	PUNCT
cblr-12479	217	13	un’azione	un’azione	PROPN
cblr-12479	217	14	,	,	PUNCT
cblr-12479	217	15	un	un	PROPN
cblr-12479	217	16	voto	voto	PROPN
cblr-12479	217	17	:	:	PUNCT
cblr-12479	217	18	un	un	PROPN
cblr-12479	217	19	principio	principio	PROPN
cblr-12479	217	20	da	da	PROPN
cblr-12479	217	21	abbandonare	abbandonare	PROPN
cblr-12479	217	22	?	?	PUNCT
cblr-12479	217	23	,	,	PUNCT
cblr-12479	217	24	42	42	NUM
cblr-12479	217	25	giurisprudenza	giurisprudenza	NOUN
cblr-12479	217	26	commerciale	commerciale	X
cblr-12479	217	27	512	512	NUM
cblr-12479	217	28	(	(	PUNCT
cblr-12479	217	29	2015	2015	NUM
cblr-12479	217	30	)	)	PUNCT
cblr-12479	217	31	(	(	PUNCT
cblr-12479	217	32	it	it	PRON
cblr-12479	217	33	.	.	PUNCT
cblr-12479	217	34	)	)	PUNCT
cblr-12479	217	35	.	.	PUNCT
cblr-12479	218	1	[	[	X
cblr-12479	218	2	https://iris.unibocconi.it/handle/11565/3985572	https://iris.unibocconi.it/handle/11565/3985572	X
cblr-12479	218	3	]	]	X
cblr-12479	219	1	[	[	X
cblr-12479	219	2	https://perma.cc/778t-d5a7	https://perma.cc/778t-d5a7	X
cblr-12479	219	3	]	]	PUNCT
cblr-12479	219	4	.	.	PUNCT
cblr-12479	220	1	66	66	NUM
cblr-12479	220	2	mike	mike	PROPN
cblr-12479	220	3	burkart	burkart	PROPN
cblr-12479	220	4	&	&	CCONJ
cblr-12479	220	5	samuel	samuel	PROPN
cblr-12479	220	6	lee	lee	PROPN
cblr-12479	220	7	,	,	PUNCT
cblr-12479	220	8	one	one	NUM
cblr-12479	220	9	share	share	NOUN
cblr-12479	220	10	-	-	PUNCT
cblr-12479	220	11	one	one	NUM
cblr-12479	220	12	vote	vote	NOUN
cblr-12479	220	13	:	:	PUNCT
cblr-12479	220	14	the	the	DET
cblr-12479	220	15	theory	theory	NOUN
cblr-12479	220	16	,	,	PUNCT
cblr-12479	220	17	12	12	NUM
cblr-12479	220	18	rev	rev	X
cblr-12479	220	19	.	.	PUNCT
cblr-12479	221	1	fin	fin	NOUN
cblr-12479	221	2	.	.	PUNCT
cblr-12479	221	3	1	1	NUM
cblr-12479	221	4	(	(	PUNCT
cblr-12479	221	5	2008	2008	NUM
cblr-12479	221	6	)	)	PUNCT
cblr-12479	221	7	.	.	PUNCT
cblr-12479	222	1	67	67	NUM
cblr-12479	222	2	see	see	VERB
cblr-12479	222	3	i	i	PRON
cblr-12479	222	4	d.	d.	PROPN
cblr-12479	222	5	694	694	NUM
cblr-12479	222	6	columbia	columbia	PROPN
cblr-12479	222	7	business	business	NOUN
cblr-12479	222	8	law	law	PROPN
cblr-12479	222	9	review	review	NOUN
cblr-12479	222	10	[	[	X
cblr-12479	222	11	vol	vol	NOUN
cblr-12479	222	12	.	.	PUNCT
cblr-12479	222	13	2023	2023	NUM
cblr-12479	222	14	legal	legal	ADJ
cblr-12479	222	15	scholars	scholar	NOUN
cblr-12479	222	16	often	often	ADV
cblr-12479	222	17	assume	assume	VERB
cblr-12479	222	18	that	that	SCONJ
cblr-12479	222	19	non	non	ADJ
cblr-12479	222	20	-	-	ADJ
cblr-12479	222	21	listed	listed	ADJ
cblr-12479	222	22	companies	company	NOUN
cblr-12479	222	23	—	—	PUNCT
cblr-12479	222	24	those	those	PRON
cblr-12479	222	25	in	in	ADP
cblr-12479	222	26	which	which	PRON
cblr-12479	222	27	vcs	vcs	PROPN
cblr-12479	222	28	invest	invest	VERB
cblr-12479	222	29	—	—	PUNCT
cblr-12479	222	30	enjoy	enjoy	VERB
cblr-12479	222	31	contractual	contractual	ADJ
cblr-12479	222	32	freedom	freedom	NOUN
cblr-12479	222	33	to	to	PART
cblr-12479	222	34	separate	separate	VERB
cblr-12479	222	35	cash	cash	NOUN
cblr-12479	222	36	flow	flow	NOUN
cblr-12479	222	37	from	from	ADP
cblr-12479	222	38	control	control	NOUN
cblr-12479	222	39	across	across	ADP
cblr-12479	222	40	jurisdictions.68	jurisdictions.68	NOUN
cblr-12479	222	41	this	this	PRON
cblr-12479	222	42	partly	partly	ADV
cblr-12479	222	43	explains	explain	VERB
cblr-12479	222	44	why	why	SCONJ
cblr-12479	222	45	,	,	PUNCT
cblr-12479	222	46	unlike	unlike	ADP
cblr-12479	222	47	the	the	DET
cblr-12479	222	48	study	study	NOUN
cblr-12479	222	49	of	of	ADP
cblr-12479	222	50	listed	list	VERB
cblr-12479	222	51	firms	firm	NOUN
cblr-12479	222	52	and	and	CCONJ
cblr-12479	222	53	despite	despite	SCONJ
cblr-12479	222	54	its	its	PRON
cblr-12479	222	55	relevance	relevance	NOUN
cblr-12479	222	56	for	for	ADP
cblr-12479	222	57	vc	vc	NOUN
cblr-12479	222	58	,	,	PUNCT
cblr-12479	222	59	there	there	PRON
cblr-12479	222	60	is	be	VERB
cblr-12479	222	61	no	no	DET
cblr-12479	222	62	equivalent	equivalent	ADJ
cblr-12479	222	63	comprehensive	comprehensive	ADJ
cblr-12479	222	64	comparative	comparative	ADJ
cblr-12479	222	65	research	research	NOUN
cblr-12479	222	66	on	on	ADP
cblr-12479	222	67	the	the	DET
cblr-12479	222	68	matter.69	matter.69	NOUN
cblr-12479	222	69	yet	yet	ADV
cblr-12479	222	70	,	,	PUNCT
cblr-12479	222	71	a	a	DET
cblr-12479	222	72	closer	close	ADJ
cblr-12479	222	73	look	look	NOUN
cblr-12479	222	74	reveals	reveal	VERB
cblr-12479	222	75	that	that	SCONJ
cblr-12479	222	76	there	there	PRON
cblr-12479	222	77	are	be	VERB
cblr-12479	222	78	significant	significant	ADJ
cblr-12479	222	79	limits	limit	NOUN
cblr-12479	222	80	to	to	ADP
cblr-12479	222	81	these	these	DET
cblr-12479	222	82	prerogatives	prerogative	NOUN
cblr-12479	222	83	in	in	ADP
cblr-12479	222	84	numerous	numerous	ADJ
cblr-12479	222	85	jurisdictions	jurisdiction	NOUN
cblr-12479	222	86	and	and	CCONJ
cblr-12479	222	87	,	,	PUNCT
cblr-12479	222	88	consequently	consequently	ADV
cblr-12479	222	89	,	,	PUNCT
cblr-12479	222	90	barriers	barrier	NOUN
cblr-12479	222	91	to	to	PART
cblr-12479	222	92	structure	structure	VERB
cblr-12479	222	93	socially	socially	ADV
cblr-12479	222	94	efficient	efficient	ADJ
cblr-12479	222	95	vc	vc	NOUN
cblr-12479	222	96	agreements	agreement	NOUN
cblr-12479	222	97	.	.	PUNCT
cblr-12479	223	1	one	one	NUM
cblr-12479	223	2	-	-	PUNCT
cblr-12479	223	3	share	share	NOUN
cblr-12479	223	4	-	-	PUNCT
cblr-12479	223	5	one	one	NUM
cblr-12479	223	6	-	-	PUNCT
cblr-12479	223	7	vote	vote	NOUN
cblr-12479	223	8	,	,	PUNCT
cblr-12479	223	9	in	in	ADP
cblr-12479	223	10	fact	fact	NOUN
cblr-12479	223	11	,	,	PUNCT
cblr-12479	223	12	is	be	AUX
cblr-12479	223	13	quite	quite	DET
cblr-12479	223	14	a	a	DET
cblr-12479	223	15	rigid	rigid	ADJ
cblr-12479	223	16	principle	principle	NOUN
cblr-12479	223	17	for	for	ADP
cblr-12479	223	18	non	non	ADJ
cblr-12479	223	19	-	-	ADJ
cblr-12479	223	20	listed	listed	ADJ
cblr-12479	223	21	corporations	corporation	NOUN
cblr-12479	223	22	in	in	ADP
cblr-12479	223	23	many	many	ADJ
cblr-12479	223	24	jurisdictions	jurisdiction	NOUN
cblr-12479	223	25	.	.	PUNCT
cblr-12479	224	1	a	a	DET
cblr-12479	224	2	common	common	ADJ
cblr-12479	224	3	expression	expression	NOUN
cblr-12479	224	4	of	of	ADP
cblr-12479	224	5	that	that	DET
cblr-12479	224	6	rigidity	rigidity	NOUN
cblr-12479	224	7	is	be	AUX
cblr-12479	224	8	found	find	VERB
cblr-12479	224	9	in	in	ADP
cblr-12479	224	10	legal	legal	ADJ
cblr-12479	224	11	systems	system	NOUN
cblr-12479	224	12	that	that	PRON
cblr-12479	224	13	only	only	ADV
cblr-12479	224	14	allow	allow	VERB
cblr-12479	224	15	the	the	DET
cblr-12479	224	16	issuance	issuance	NOUN
cblr-12479	224	17	of	of	ADP
cblr-12479	224	18	preferred	preferred	ADJ
cblr-12479	224	19	shares	share	NOUN
cblr-12479	224	20	with	with	ADP
cblr-12479	224	21	double	double	ADJ
cblr-12479	224	22	dividends	dividend	NOUN
cblr-12479	224	23	and	and	CCONJ
cblr-12479	224	24	no	no	DET
cblr-12479	224	25	votes	vote	NOUN
cblr-12479	224	26	,	,	PUNCT
cblr-12479	224	27	or	or	CCONJ
cblr-12479	224	28	vice	vice	NOUN
cblr-12479	224	29	-	-	ADJ
cblr-12479	224	30	versa.70	versa.70	ADJ
cblr-12479	224	31	other	other	ADJ
cblr-12479	224	32	systems	system	NOUN
cblr-12479	224	33	provide	provide	VERB
cblr-12479	224	34	wider	wide	ADJ
cblr-12479	224	35	flexibility	flexibility	NOUN
cblr-12479	224	36	but	but	CCONJ
cblr-12479	224	37	impose	impose	VERB
cblr-12479	224	38	temporal	temporal	ADJ
cblr-12479	224	39	restrictions	restriction	NOUN
cblr-12479	224	40	to	to	ADP
cblr-12479	224	41	multiple	multiple	ADJ
cblr-12479	224	42	votes71	votes71	NOUN
cblr-12479	224	43	or	or	CCONJ
cblr-12479	224	44	limits	limit	NOUN
cblr-12479	224	45	to	to	ADP
cblr-12479	224	46	the	the	DET
cblr-12479	224	47	percentage	percentage	NOUN
cblr-12479	224	48	of	of	ADP
cblr-12479	224	49	shares	share	NOUN
cblr-12479	224	50	with	with	ADP
cblr-12479	224	51	such	such	ADJ
cblr-12479	224	52	enhanced	enhanced	ADJ
cblr-12479	224	53	governance	governance	NOUN
cblr-12479	224	54	rights.72	rights.72	NOUN
cblr-12479	224	55	in	in	ADP
cblr-12479	224	56	those	those	DET
cblr-12479	224	57	legal	legal	ADJ
cblr-12479	224	58	systems	system	NOUN
cblr-12479	224	59	,	,	PUNCT
cblr-12479	224	60	parties	party	NOUN
cblr-12479	224	61	still	still	ADV
cblr-12479	224	62	have	have	VERB
cblr-12479	224	63	room	room	NOUN
cblr-12479	224	64	to	to	PART
cblr-12479	224	65	depart	depart	VERB
cblr-12479	224	66	from	from	ADP
cblr-12479	224	67	the	the	DET
cblr-12479	224	68	one	one	NUM
cblr-12479	224	69	-	-	PUNCT
cblr-12479	224	70	share	share	NOUN
cblr-12479	224	71	one	one	NUM
cblr-12479	224	72	-	-	PUNCT
cblr-12479	224	73	vote	vote	NOUN
cblr-12479	224	74	rule	rule	NOUN
cblr-12479	224	75	,	,	PUNCT
cblr-12479	224	76	but	but	CCONJ
cblr-12479	224	77	within	within	ADP
cblr-12479	224	78	a	a	DET
cblr-12479	224	79	limited	limited	ADJ
cblr-12479	224	80	range	range	NOUN
cblr-12479	224	81	of	of	ADP
cblr-12479	224	82	bargaining	bargaining	NOUN
cblr-12479	224	83	,	,	PUNCT
cblr-12479	224	84	as	as	SCONJ
cblr-12479	224	85	they	they	PRON
cblr-12479	224	86	can	can	AUX
cblr-12479	224	87	not	not	PART
cblr-12479	224	88	fully	fully	ADV
cblr-12479	224	89	exchange	exchange	VERB
cblr-12479	224	90	or	or	CCONJ
cblr-12479	224	91	“	"	PUNCT
cblr-12479	224	92	sell	sell	VERB
cblr-12479	224	93	”	"	PUNCT
cblr-12479	224	94	voting	voting	NOUN
cblr-12479	224	95	rights	right	NOUN
cblr-12479	224	96	.	.	PUNCT
cblr-12479	225	1	these	these	DET
cblr-12479	225	2	regulatory	regulatory	ADJ
cblr-12479	225	3	environments	environment	NOUN
cblr-12479	225	4	diminish	diminish	VERB
cblr-12479	225	5	the	the	DET
cblr-12479	225	6	development	development	NOUN
cblr-12479	225	7	of	of	ADP
cblr-12479	225	8	the	the	DET
cblr-12479	225	9	vc	vc	PROPN
cblr-12479	225	10	industry	industry	NOUN
cblr-12479	225	11	.	.	PUNCT
cblr-12479	226	1	they	they	PRON
cblr-12479	226	2	might	might	AUX
cblr-12479	226	3	,	,	PUNCT
cblr-12479	226	4	for	for	ADP
cblr-12479	226	5	example	example	NOUN
cblr-12479	226	6	,	,	PUNCT
cblr-12479	226	7	discourage	discourage	VERB
cblr-12479	226	8	68	68	NUM
cblr-12479	226	9	see	see	NOUN
cblr-12479	226	10	,	,	PUNCT
cblr-12479	226	11	e.g.	e.g.	ADV
cblr-12479	226	12	,	,	PUNCT
cblr-12479	226	13	reinier	reinier	ADJ
cblr-12479	226	14	kraakman	kraakman	NOUN
cblr-12479	226	15	,	,	PUNCT
cblr-12479	226	16	john	john	PROPN
cblr-12479	226	17	armour	armour	PROPN
cblr-12479	226	18	,	,	PUNCT
cblr-12479	226	19	paul	paul	PROPN
cblr-12479	226	20	davies	davies	PROPN
cblr-12479	226	21	,	,	PUNCT
cblr-12479	226	22	luca	luca	PROPN
cblr-12479	226	23	enriques	enrique	NOUN
cblr-12479	226	24	,	,	PUNCT
cblr-12479	226	25	henry	henry	PROPN
cblr-12479	226	26	hansmann	hansmann	PROPN
cblr-12479	226	27	,	,	PUNCT
cblr-12479	226	28	gerard	gerard	PROPN
cblr-12479	226	29	hertig	hertig	PROPN
cblr-12479	226	30	,	,	PUNCT
cblr-12479	226	31	klaus	klaus	PROPN
cblr-12479	226	32	hopt	hopt	PROPN
cblr-12479	226	33	,	,	PUNCT
cblr-12479	226	34	hideki	hideki	PROPN
cblr-12479	226	35	kanda	kanda	PROPN
cblr-12479	226	36	,	,	PUNCT
cblr-12479	226	37	mariana	mariana	PROPN
cblr-12479	226	38	pargendler	pargendler	NOUN
cblr-12479	226	39	,	,	PUNCT
cblr-12479	226	40	wolf	wolf	NOUN
cblr-12479	226	41	-	-	PUNCT
cblr-12479	226	42	georg	georg	ADJ
cblr-12479	226	43	ringe	ringe	NOUN
cblr-12479	226	44	&	&	CCONJ
cblr-12479	226	45	edward	edward	PROPN
cblr-12479	226	46	rock	rock	PROPN
cblr-12479	226	47	,	,	PUNCT
cblr-12479	226	48	the	the	DET
cblr-12479	226	49	anatomy	anatomy	NOUN
cblr-12479	226	50	of	of	ADP
cblr-12479	226	51	corporate	corporate	ADJ
cblr-12479	226	52	law	law	NOUN
cblr-12479	226	53	:	:	PUNCT
cblr-12479	226	54	a	a	DET
cblr-12479	226	55	comparative	comparative	ADJ
cblr-12479	226	56	and	and	CCONJ
cblr-12479	226	57	functional	functional	ADJ
cblr-12479	226	58	approach	approach	NOUN
cblr-12479	226	59	18–19	18–19	NUM
cblr-12479	226	60	(	(	PUNCT
cblr-12479	226	61	3rd	3rd	ADJ
cblr-12479	226	62	ed	ed	NOUN
cblr-12479	226	63	.	.	PROPN
cblr-12479	226	64	2017	2017	NUM
cblr-12479	226	65	)	)	PUNCT
cblr-12479	226	66	.	.	PUNCT
cblr-12479	227	1	69	69	NUM
cblr-12479	227	2	for	for	ADP
cblr-12479	227	3	a	a	DET
cblr-12479	227	4	more	more	ADV
cblr-12479	227	5	detailed	detailed	ADJ
cblr-12479	227	6	discussion	discussion	NOUN
cblr-12479	227	7	on	on	ADP
cblr-12479	227	8	the	the	DET
cblr-12479	227	9	reasons	reason	NOUN
cblr-12479	227	10	for	for	ADP
cblr-12479	227	11	that	that	DET
cblr-12479	227	12	research	research	NOUN
cblr-12479	227	13	gap	gap	NOUN
cblr-12479	227	14	,	,	PUNCT
cblr-12479	227	15	see	see	VERB
cblr-12479	227	16	pereira	pereira	PROPN
cblr-12479	227	17	,	,	PUNCT
cblr-12479	227	18	supra	supra	PROPN
cblr-12479	227	19	note	note	NOUN
cblr-12479	227	20	2	2	NUM
cblr-12479	227	21	,	,	PUNCT
cblr-12479	227	22	at	at	ADP
cblr-12479	227	23	388–95	388–95	NUM
cblr-12479	227	24	.	.	PUNCT
cblr-12479	228	1	70	70	NUM
cblr-12479	228	2	see	see	VERB
cblr-12479	228	3	,	,	PUNCT
cblr-12479	228	4	e.g.	e.g.	ADV
cblr-12479	228	5	,	,	PUNCT
cblr-12479	228	6	ley	ley	VERB
cblr-12479	228	7	no	no	INTJ
cblr-12479	228	8	.	.	PUNCT
cblr-12479	228	9	26887	26887	NUM
cblr-12479	228	10	ley	ley	PROPN
cblr-12479	228	11	general	general	PROPN
cblr-12479	228	12	de	de	PROPN
cblr-12479	228	13	sociedades	sociedades	PROPN
cblr-12479	228	14	(	(	PUNCT
cblr-12479	228	15	peru	peru	PROPN
cblr-12479	228	16	)	)	PUNCT
cblr-12479	228	17	;	;	PUNCT
cblr-12479	228	18	polish	polish	ADJ
cblr-12479	228	19	commercial	commercial	PROPN
cblr-12479	228	20	code	code	NOUN
cblr-12479	228	21	(	(	PUNCT
cblr-12479	228	22	kodeks	kodeks	PROPN
cblr-12479	228	23	spółek	spółek	PROPN
cblr-12479	228	24	handlowych	handlowych	PROPN
cblr-12479	228	25	)	)	PUNCT
cblr-12479	228	26	,	,	PUNCT
cblr-12479	228	27	arts	art	NOUN
cblr-12479	228	28	.	.	PUNCT
cblr-12479	229	1	351–65	351–65	NOUN
cblr-12479	229	2	.	.	PUNCT
cblr-12479	230	1	71	71	NUM
cblr-12479	230	2	see	see	NOUN
cblr-12479	230	3	,	,	PUNCT
cblr-12479	230	4	e.g.	e.g.	ADV
cblr-12479	230	5	,	,	PUNCT
cblr-12479	230	6	brazilian	brazilian	ADJ
cblr-12479	230	7	law	law	NOUN
cblr-12479	230	8	no	no	NOUN
cblr-12479	230	9	.	.	PUNCT
cblr-12479	231	1	6,404	6,404	NUM
cblr-12479	231	2	(	(	PUNCT
cblr-12479	231	3	1976	1976	NUM
cblr-12479	231	4	)	)	PUNCT
cblr-12479	231	5	,	,	PUNCT
cblr-12479	231	6	art	art	NOUN
cblr-12479	231	7	.	.	PUNCT
cblr-12479	232	1	110	110	NUM
cblr-12479	232	2	,	,	PUNCT
cblr-12479	232	3	temporarily	temporarily	ADV
cblr-12479	232	4	modified	modify	VERB
cblr-12479	232	5	by	by	ADP
cblr-12479	232	6	medida	medida	PROPN
cblr-12479	232	7	provisória	provisória	PROPN
cblr-12479	232	8	no	no	INTJ
cblr-12479	232	9	.	.	NOUN
cblr-12479	232	10	1.040	1.040	NUM
cblr-12479	232	11	(	(	PUNCT
cblr-12479	232	12	2021	2021	NUM
cblr-12479	232	13	)	)	PUNCT
cblr-12479	232	14	(	(	PUNCT
cblr-12479	232	15	providing	provide	VERB
cblr-12479	232	16	that	that	SCONJ
cblr-12479	232	17	multiple	multiple	ADJ
cblr-12479	232	18	votes	vote	NOUN
cblr-12479	232	19	could	could	AUX
cblr-12479	232	20	be	be	AUX
cblr-12479	232	21	granted	grant	VERB
cblr-12479	232	22	for	for	ADP
cblr-12479	232	23	seven	seven	NUM
cblr-12479	232	24	years	year	NOUN
cblr-12479	232	25	,	,	PUNCT
cblr-12479	232	26	extendable	extendable	ADJ
cblr-12479	232	27	only	only	ADV
cblr-12479	232	28	once	once	ADV
cblr-12479	232	29	)	)	PUNCT
cblr-12479	232	30	and	and	CCONJ
cblr-12479	232	31	later	later	ADV
cblr-12479	232	32	modified	modify	VERB
cblr-12479	232	33	by	by	ADP
cblr-12479	232	34	law	law	NOUN
cblr-12479	232	35	14,195	14,195	NUM
cblr-12479	232	36	(	(	PUNCT
cblr-12479	232	37	2021	2021	NUM
cblr-12479	232	38	)	)	PUNCT
cblr-12479	232	39	(	(	PUNCT
cblr-12479	232	40	enabling	enable	VERB
cblr-12479	232	41	extension	extension	NOUN
cblr-12479	232	42	more	more	ADJ
cblr-12479	232	43	than	than	ADP
cblr-12479	232	44	once	once	ADV
cblr-12479	232	45	,	,	PUNCT
cblr-12479	232	46	but	but	CCONJ
cblr-12479	232	47	subject	subject	ADJ
cblr-12479	232	48	to	to	ADP
cblr-12479	232	49	specific	specific	ADJ
cblr-12479	232	50	conditions	condition	NOUN
cblr-12479	232	51	,	,	PUNCT
cblr-12479	232	52	including	include	VERB
cblr-12479	232	53	dissenters	dissenter	NOUN
cblr-12479	232	54	’	'	PUNCT
cblr-12479	232	55	buyout).[https://www.planalto.gov.br	buyout).[https://www.planalto.gov.br	PROPN
cblr-12479	232	56	/	/	SYM
cblr-12479	232	57	ccivil_03	ccivil_03	ADJ
cblr-12479	232	58	/	/	SYM
cblr-12479	232	59	leis	leis	NOUN
cblr-12479	232	60	/	/	SYM
cblr-12479	232	61	l6404consol.htm][http	l6404consol.htm][http	PROPN
cblr-12479	232	62	s://perma.cc	s://perma.cc	PROPN
cblr-12479	232	63	/	/	SYM
cblr-12479	232	64	zz54	zz54	PROPN
cblr-12479	232	65	-	-	PUNCT
cblr-12479	232	66	vb46	vb46	PROPN
cblr-12479	232	67	]	]	PUNCT
cblr-12479	232	68	72	72	NUM
cblr-12479	232	69	see	see	NOUN
cblr-12479	232	70	,	,	PUNCT
cblr-12479	232	71	e.g.	e.g.	ADV
cblr-12479	232	72	,	,	PUNCT
cblr-12479	232	73	companies	company	NOUN
cblr-12479	232	74	act	act	VERB
cblr-12479	232	75	,	,	PUNCT
cblr-12479	232	76	2013	2013	NUM
cblr-12479	232	77	,	,	PUNCT
cblr-12479	232	78	§	§	PROPN
cblr-12479	232	79	43	43	NUM
cblr-12479	232	80	(	(	PUNCT
cblr-12479	232	81	india	india	PROPN
cblr-12479	232	82	)	)	PUNCT
cblr-12479	232	83	;	;	PUNCT
cblr-12479	233	1	companies	company	NOUN
cblr-12479	233	2	(	(	PUNCT
cblr-12479	233	3	share	share	NOUN
cblr-12479	233	4	capital	capital	NOUN
cblr-12479	233	5	and	and	CCONJ
cblr-12479	233	6	debentures	debenture	NOUN
cblr-12479	233	7	)	)	PUNCT
cblr-12479	233	8	rules	rule	NOUN
cblr-12479	233	9	,	,	PUNCT
cblr-12479	233	10	2014	2014	NUM
cblr-12479	233	11	,	,	PUNCT
cblr-12479	233	12	§	§	PROPN
cblr-12479	233	13	4(1)(c	4(1)(c	NUM
cblr-12479	233	14	)	)	PUNCT
cblr-12479	233	15	(	(	PUNCT
cblr-12479	233	16	india	india	PROPN
cblr-12479	233	17	)	)	PUNCT
cblr-12479	233	18	(	(	PUNCT
cblr-12479	233	19	capping	cap	VERB
cblr-12479	233	20	shares	share	NOUN
cblr-12479	233	21	with	with	ADP
cblr-12479	233	22	differentiated	differentiated	ADJ
cblr-12479	233	23	rights	right	NOUN
cblr-12479	233	24	at	at	ADP
cblr-12479	233	25	26	26	NUM
cblr-12479	233	26	%	%	NOUN
cblr-12479	233	27	)	)	PUNCT
cblr-12479	233	28	.	.	PUNCT
cblr-12479	234	1	no	no	INTJ
cblr-12479	234	2	.	.	NOUN
cblr-12479	235	1	2	2	NUM
cblr-12479	235	2	]	]	PUNCT
cblr-12479	235	3	the	the	DET
cblr-12479	235	4	law	law	NOUN
cblr-12479	235	5	of	of	ADP
cblr-12479	235	6	contingent	contingent	NOUN
cblr-12479	235	7	control	control	NOUN
cblr-12479	235	8	695	695	NUM
cblr-12479	235	9	investors	investor	NOUN
cblr-12479	235	10	,	,	PUNCT
cblr-12479	235	11	by	by	ADP
cblr-12479	235	12	limiting	limit	VERB
cblr-12479	235	13	their	their	PRON
cblr-12479	235	14	bargaining	bargaining	NOUN
cblr-12479	235	15	tools	tool	NOUN
cblr-12479	235	16	,	,	PUNCT
cblr-12479	235	17	or	or	CCONJ
cblr-12479	235	18	compel	compel	VERB
cblr-12479	235	19	entrepreneurs	entrepreneur	NOUN
cblr-12479	235	20	to	to	PART
cblr-12479	235	21	incorporate	incorporate	VERB
cblr-12479	235	22	or	or	CCONJ
cblr-12479	235	23	relocate	relocate	VERB
cblr-12479	235	24	elsewhere.73	elsewhere.73	NOUN
cblr-12479	235	25	in	in	ADP
cblr-12479	235	26	larger	large	ADJ
cblr-12479	235	27	markets	market	NOUN
cblr-12479	235	28	,	,	PUNCT
cblr-12479	235	29	as	as	ADP
cblr-12479	235	30	china	china	PROPN
cblr-12479	235	31	,	,	PUNCT
cblr-12479	235	32	these	these	DET
cblr-12479	235	33	rules	rule	NOUN
cblr-12479	235	34	might	might	AUX
cblr-12479	235	35	not	not	PART
cblr-12479	235	36	entirely	entirely	ADV
cblr-12479	235	37	discourage	discourage	VERB
cblr-12479	235	38	investors	investor	NOUN
cblr-12479	235	39	,	,	PUNCT
cblr-12479	235	40	but	but	CCONJ
cblr-12479	235	41	likely	likely	ADV
cblr-12479	235	42	induce	induce	VERB
cblr-12479	235	43	them	they	PRON
cblr-12479	235	44	to	to	PART
cblr-12479	235	45	develop	develop	VERB
cblr-12479	235	46	contractual	contractual	ADJ
cblr-12479	235	47	protections	protection	NOUN
cblr-12479	235	48	that	that	PRON
cblr-12479	235	49	do	do	AUX
cblr-12479	235	50	not	not	PART
cblr-12479	235	51	necessarily	necessarily	ADV
cblr-12479	235	52	strengthen	strengthen	VERB
cblr-12479	235	53	incentive	incentive	NOUN
cblr-12479	235	54	alignment	alignment	NOUN
cblr-12479	235	55	or	or	CCONJ
cblr-12479	235	56	trust	trust	NOUN
cblr-12479	235	57	between	between	ADP
cblr-12479	235	58	parties.74	parties.74	NOUN
cblr-12479	235	59	still	still	ADV
cblr-12479	235	60	,	,	PUNCT
cblr-12479	235	61	many	many	ADJ
cblr-12479	235	62	entrepreneurs	entrepreneur	NOUN
cblr-12479	235	63	do	do	AUX
cblr-12479	235	64	not	not	PART
cblr-12479	235	65	always	always	ADV
cblr-12479	235	66	register	register	VERB
cblr-12479	235	67	their	their	PRON
cblr-12479	235	68	startups	startup	NOUN
cblr-12479	235	69	as	as	ADP
cblr-12479	235	70	corporations	corporation	NOUN
cblr-12479	235	71	,	,	PUNCT
cblr-12479	235	72	but	but	CCONJ
cblr-12479	235	73	often	often	ADV
cblr-12479	235	74	as	as	ADP
cblr-12479	235	75	limited	limited	ADJ
cblr-12479	235	76	liability	liability	NOUN
cblr-12479	235	77	companies	company	NOUN
cblr-12479	235	78	or	or	CCONJ
cblr-12479	235	79	other	other	ADJ
cblr-12479	235	80	less	less	ADV
cblr-12479	235	81	expensive	expensive	ADJ
cblr-12479	235	82	legal	legal	ADJ
cblr-12479	235	83	entity	entity	NOUN
cblr-12479	235	84	forms	form	NOUN
cblr-12479	235	85	.	.	PUNCT
cblr-12479	236	1	despite	despite	SCONJ
cblr-12479	236	2	reducing	reduce	VERB
cblr-12479	236	3	expenses	expense	NOUN
cblr-12479	236	4	,	,	PUNCT
cblr-12479	236	5	such	such	ADJ
cblr-12479	236	6	entities	entity	NOUN
cblr-12479	236	7	usually	usually	ADV
cblr-12479	236	8	have	have	VERB
cblr-12479	236	9	even	even	ADV
cblr-12479	236	10	higher	high	ADJ
cblr-12479	236	11	restrictions	restriction	NOUN
cblr-12479	236	12	to	to	ADP
cblr-12479	236	13	the	the	DET
cblr-12479	236	14	separation	separation	NOUN
cblr-12479	236	15	of	of	ADP
cblr-12479	236	16	cash	cash	NOUN
cblr-12479	236	17	flow	flow	NOUN
cblr-12479	236	18	from	from	ADP
cblr-12479	236	19	control	control	NOUN
cblr-12479	236	20	that	that	PRON
cblr-12479	236	21	are	be	AUX
cblr-12479	236	22	relevant	relevant	ADJ
cblr-12479	236	23	for	for	ADP
cblr-12479	236	24	the	the	DET
cblr-12479	236	25	structure	structure	NOUN
cblr-12479	236	26	of	of	ADP
cblr-12479	236	27	socially	socially	ADV
cblr-12479	236	28	efficient	efficient	ADJ
cblr-12479	236	29	financing	financing	NOUN
cblr-12479	236	30	agreements	agreement	NOUN
cblr-12479	236	31	with	with	ADP
cblr-12479	236	32	vcs.75	vcs.75	PROPN
cblr-12479	236	33	in	in	ADP
cblr-12479	236	34	many	many	ADJ
cblr-12479	236	35	civil	civil	ADJ
cblr-12479	236	36	law	law	NOUN
cblr-12479	236	37	countries	country	NOUN
cblr-12479	236	38	,	,	PUNCT
cblr-12479	236	39	limited	limited	ADJ
cblr-12479	236	40	liability	liability	NOUN
cblr-12479	236	41	companies	company	NOUN
cblr-12479	236	42	do	do	AUX
cblr-12479	236	43	not	not	PART
cblr-12479	236	44	divide	divide	VERB
cblr-12479	236	45	the	the	DET
cblr-12479	236	46	capital	capital	NOUN
cblr-12479	236	47	into	into	ADP
cblr-12479	236	48	shares	share	NOUN
cblr-12479	236	49	but	but	CCONJ
cblr-12479	236	50	into	into	ADP
cblr-12479	236	51	quotas	quota	NOUN
cblr-12479	236	52	,	,	PUNCT
cblr-12479	236	53	which	which	PRON
cblr-12479	236	54	are	be	AUX
cblr-12479	236	55	traditionally	traditionally	ADV
cblr-12479	236	56	more	more	ADV
cblr-12479	236	57	difficult	difficult	ADJ
cblr-12479	236	58	to	to	PART
cblr-12479	236	59	customize.76	customize.76	VERB
cblr-12479	236	60	in	in	ADP
cblr-12479	236	61	case	case	NOUN
cblr-12479	236	62	of	of	ADP
cblr-12479	236	63	conflict	conflict	NOUN
cblr-12479	236	64	,	,	PUNCT
cblr-12479	236	65	judges	judge	NOUN
cblr-12479	236	66	may	may	AUX
cblr-12479	236	67	not	not	PART
cblr-12479	236	68	necessarily	necessarily	ADV
cblr-12479	236	69	rely	rely	VERB
cblr-12479	236	70	on	on	ADP
cblr-12479	236	71	the	the	DET
cblr-12479	236	72	law	law	NOUN
cblr-12479	236	73	of	of	ADP
cblr-12479	236	74	corporations	corporation	NOUN
cblr-12479	236	75	,	,	PUNCT
cblr-12479	236	76	but	but	CCONJ
cblr-12479	236	77	on	on	ADP
cblr-12479	236	78	a	a	DET
cblr-12479	236	79	less	less	ADV
cblr-12479	236	80	flexible	flexible	ADJ
cblr-12479	236	81	legal	legal	ADJ
cblr-12479	236	82	framework.77	framework.77	NOUN
cblr-12479	236	83	because	because	SCONJ
cblr-12479	236	84	these	these	DET
cblr-12479	236	85	legal	legal	ADJ
cblr-12479	236	86	forms	form	NOUN
cblr-12479	236	87	usually	usually	ADV
cblr-12479	236	88	have	have	VERB
cblr-12479	236	89	preferential	preferential	ADJ
cblr-12479	236	90	tax	tax	NOUN
cblr-12479	236	91	treatment,78	treatment,78	VERB
cblr-12479	236	92	many	many	ADJ
cblr-12479	236	93	founders	founder	NOUN
cblr-12479	236	94	are	be	AUX
cblr-12479	236	95	compelled	compel	VERB
cblr-12479	236	96	to	to	PART
cblr-12479	236	97	register	register	VERB
cblr-12479	236	98	their	their	PRON
cblr-12479	236	99	businesses	business	NOUN
cblr-12479	236	100	as	as	ADV
cblr-12479	236	101	such	such	ADJ
cblr-12479	236	102	.	.	PUNCT
cblr-12479	237	1	in	in	ADP
cblr-12479	237	2	those	those	DET
cblr-12479	237	3	cases	case	NOUN
cblr-12479	237	4	,	,	PUNCT
cblr-12479	237	5	an	an	DET
cblr-12479	237	6	optimal	optimal	ADJ
cblr-12479	237	7	vc	vc	NOUN
cblr-12479	237	8	financing	financing	NOUN
cblr-12479	237	9	agreement	agreement	NOUN
cblr-12479	237	10	could	could	AUX
cblr-12479	237	11	be	be	AUX
cblr-12479	237	12	even	even	ADV
cblr-12479	237	13	more	more	ADV
cblr-12479	237	14	elusive	elusive	ADJ
cblr-12479	237	15	,	,	PUNCT
cblr-12479	237	16	requiring	require	VERB
cblr-12479	237	17	73	73	NUM
cblr-12479	237	18	giudici	giudici	NOUN
cblr-12479	237	19	&	&	CCONJ
cblr-12479	237	20	agstner	agstner	PROPN
cblr-12479	237	21	,	,	PUNCT
cblr-12479	237	22	supra	supra	PROPN
cblr-12479	237	23	note	note	PROPN
cblr-12479	237	24	18	18	NUM
cblr-12479	237	25	,	,	PUNCT
cblr-12479	237	26	at	at	ADP
cblr-12479	237	27	624–25	624–25	PROPN
cblr-12479	237	28	(	(	PUNCT
cblr-12479	237	29	reporting	report	VERB
cblr-12479	237	30	evidence	evidence	NOUN
cblr-12479	237	31	of	of	ADP
cblr-12479	237	32	some	some	DET
cblr-12479	237	33	high	high	ADJ
cblr-12479	237	34	-	-	PUNCT
cblr-12479	237	35	profile	profile	NOUN
cblr-12479	237	36	italian	italian	ADJ
cblr-12479	237	37	startups	startup	NOUN
cblr-12479	237	38	that	that	PRON
cblr-12479	237	39	,	,	PUNCT
cblr-12479	237	40	to	to	PART
cblr-12479	237	41	raise	raise	VERB
cblr-12479	237	42	vc	vc	PROPN
cblr-12479	237	43	finance	finance	NOUN
cblr-12479	237	44	,	,	PUNCT
cblr-12479	237	45	set	set	VERB
cblr-12479	237	46	up	up	ADP
cblr-12479	237	47	a	a	DET
cblr-12479	237	48	u.s	u.s	PROPN
cblr-12479	237	49	.	.	PROPN
cblr-12479	237	50	corporation	corporation	NOUN
cblr-12479	237	51	which	which	PRON
cblr-12479	237	52	controls	control	VERB
cblr-12479	237	53	an	an	DET
cblr-12479	237	54	italian	italian	ADJ
cblr-12479	237	55	entity	entity	NOUN
cblr-12479	237	56	)	)	PUNCT
cblr-12479	237	57	.	.	PUNCT
cblr-12479	238	1	74	74	NUM
cblr-12479	238	2	lin	lin	PROPN
cblr-12479	238	3	,	,	PUNCT
cblr-12479	238	4	supra	supra	PROPN
cblr-12479	238	5	note	note	PROPN
cblr-12479	238	6	18	18	NUM
cblr-12479	238	7	,	,	PUNCT
cblr-12479	238	8	at	at	ADP
cblr-12479	238	9	133–34	133–34	NUM
cblr-12479	238	10	.	.	PUNCT
cblr-12479	239	1	75	75	NUM
cblr-12479	239	2	see	see	VERB
cblr-12479	239	3	j.	j.	PROPN
cblr-12479	239	4	william	william	PROPN
cblr-12479	239	5	callison	callison	PROPN
cblr-12479	239	6	,	,	PUNCT
cblr-12479	239	7	venture	venture	NOUN
cblr-12479	239	8	capital	capital	NOUN
cblr-12479	239	9	and	and	CCONJ
cblr-12479	239	10	corporate	corporate	ADJ
cblr-12479	239	11	governance	governance	NOUN
cblr-12479	239	12	:	:	PUNCT
cblr-12479	239	13	evolving	evolve	VERB
cblr-12479	239	14	the	the	DET
cblr-12479	239	15	limited	limited	ADJ
cblr-12479	239	16	liability	liability	NOUN
cblr-12479	239	17	company	company	NOUN
cblr-12479	239	18	to	to	PART
cblr-12479	239	19	finance	finance	VERB
cblr-12479	239	20	the	the	DET
cblr-12479	239	21	entrepreneurial	entrepreneurial	ADJ
cblr-12479	239	22	business	business	NOUN
cblr-12479	239	23	,	,	PUNCT
cblr-12479	239	24	26	26	NUM
cblr-12479	239	25	j.	j.	PROPN
cblr-12479	239	26	corp	corp	PROPN
cblr-12479	239	27	.	.	PROPN
cblr-12479	239	28	l.	l.	PROPN
cblr-12479	239	29	97	97	NUM
cblr-12479	239	30	,	,	PUNCT
cblr-12479	239	31	123	123	NUM
cblr-12479	239	32	(	(	PUNCT
cblr-12479	239	33	2000	2000	NUM
cblr-12479	239	34	)	)	PUNCT
cblr-12479	239	35	(	(	PUNCT
cblr-12479	239	36	concluding	conclude	VERB
cblr-12479	239	37	that	that	SCONJ
cblr-12479	239	38	the	the	DET
cblr-12479	239	39	limited	limited	ADJ
cblr-12479	239	40	liability	liability	NOUN
cblr-12479	239	41	companies	company	NOUN
cblr-12479	239	42	’	'	PUNCT
cblr-12479	239	43	governance	governance	NOUN
cblr-12479	239	44	attributes	attribute	NOUN
cblr-12479	239	45	are	be	AUX
cblr-12479	239	46	the	the	DET
cblr-12479	239	47	main	main	ADJ
cblr-12479	239	48	reason	reason	NOUN
cblr-12479	239	49	preventing	prevent	VERB
cblr-12479	239	50	their	their	PRON
cblr-12479	239	51	use	use	NOUN
cblr-12479	239	52	for	for	ADP
cblr-12479	239	53	venture	venture	NOUN
cblr-12479	239	54	capital	capital	NOUN
cblr-12479	239	55	investments	investment	NOUN
cblr-12479	239	56	,	,	PUNCT
cblr-12479	239	57	as	as	SCONJ
cblr-12479	239	58	they	they	PRON
cblr-12479	239	59	“	"	PUNCT
cblr-12479	239	60	either	either	CCONJ
cblr-12479	239	61	fail	fail	VERB
cblr-12479	239	62	to	to	PART
cblr-12479	239	63	separate	separate	VERB
cblr-12479	239	64	equity	equity	NOUN
cblr-12479	239	65	ownership	ownership	NOUN
cblr-12479	239	66	and	and	CCONJ
cblr-12479	239	67	control	control	NOUN
cblr-12479	239	68	or	or	CCONJ
cblr-12479	239	69	,	,	PUNCT
cblr-12479	239	70	if	if	SCONJ
cblr-12479	239	71	they	they	PRON
cblr-12479	239	72	make	make	VERB
cblr-12479	239	73	such	such	ADJ
cblr-12479	239	74	separation	separation	NOUN
cblr-12479	239	75	,	,	PUNCT
cblr-12479	239	76	fail	fail	VERB
cblr-12479	239	77	to	to	PART
cblr-12479	239	78	differentiate	differentiate	VERB
cblr-12479	239	79	between	between	ADP
cblr-12479	239	80	operational	operational	ADJ
cblr-12479	239	81	control	control	NOUN
cblr-12479	239	82	functions	function	NOUN
cblr-12479	239	83	and	and	CCONJ
cblr-12479	239	84	ratification	ratification	NOUN
cblr-12479	239	85	and	and	CCONJ
cblr-12479	239	86	monitoring	monitoring	NOUN
cblr-12479	239	87	functions	function	NOUN
cblr-12479	239	88	”	"	PUNCT
cblr-12479	239	89	)	)	PUNCT
cblr-12479	239	90	.	.	PUNCT
cblr-12479	240	1	76	76	NUM
cblr-12479	240	2	pereira	pereira	PROPN
cblr-12479	240	3	,	,	PUNCT
cblr-12479	240	4	supra	supra	PROPN
cblr-12479	240	5	note	note	PROPN
cblr-12479	240	6	18	18	NUM
cblr-12479	240	7	,	,	PUNCT
cblr-12479	240	8	at	at	ADP
cblr-12479	240	9	435	435	NUM
cblr-12479	240	10	.	.	PUNCT
cblr-12479	240	11	77	77	NUM
cblr-12479	240	12	giudici	giudici	PROPN
cblr-12479	240	13	&	&	CCONJ
cblr-12479	240	14	agstner	agstner	PROPN
cblr-12479	240	15	,	,	PUNCT
cblr-12479	240	16	supra	supra	PROPN
cblr-12479	240	17	note	note	PROPN
cblr-12479	240	18	18	18	NUM
cblr-12479	240	19	,	,	PUNCT
cblr-12479	240	20	at	at	ADP
cblr-12479	240	21	597	597	NUM
cblr-12479	240	22	;	;	PUNCT
cblr-12479	240	23	pereia	pereia	NOUN
cblr-12479	240	24	,	,	PUNCT
cblr-12479	240	25	supra	supra	PROPN
cblr-12479	240	26	note	note	NOUN
cblr-12479	240	27	18	18	NUM
cblr-12479	240	28	.	.	SYM
cblr-12479	240	29	78	78	NUM
cblr-12479	240	30	see	see	VERB
cblr-12479	240	31	joseph	joseph	PROPN
cblr-12479	240	32	a.	a.	PROPN
cblr-12479	240	33	mccahery	mccahery	PROPN
cblr-12479	240	34	,	,	PUNCT
cblr-12479	240	35	erik	erik	PROPN
cblr-12479	240	36	p.	p.	PROPN
cblr-12479	240	37	m.	m.	PROPN
cblr-12479	240	38	vermeulen	vermeulen	PROPN
cblr-12479	240	39	&	&	CCONJ
cblr-12479	240	40	priyanka	priyanka	PROPN
cblr-12479	240	41	priydershini	priydershini	PROPN
cblr-12479	240	42	,	,	PUNCT
cblr-12479	240	43	a	a	DET
cblr-12479	240	44	primer	primer	NOUN
cblr-12479	240	45	on	on	ADP
cblr-12479	240	46	the	the	DET
cblr-12479	240	47	uncorporation	uncorporation	NOUN
cblr-12479	240	48	,	,	PUNCT
cblr-12479	240	49	14	14	NUM
cblr-12479	240	50	eur	eur	NOUN
cblr-12479	240	51	.	.	PUNCT
cblr-12479	241	1	bus	bus	NOUN
cblr-12479	241	2	.	.	PUNCT
cblr-12479	242	1	org	org	PROPN
cblr-12479	242	2	.	.	PUNCT
cblr-12479	243	1	l.	l.	PROPN
cblr-12479	243	2	rev	rev	PROPN
cblr-12479	243	3	.	.	PROPN
cblr-12479	244	1	305	305	NUM
cblr-12479	244	2	(	(	PUNCT
cblr-12479	244	3	2013	2013	NUM
cblr-12479	244	4	)	)	PUNCT
cblr-12479	244	5	(	(	PUNCT
cblr-12479	244	6	discussing	discuss	VERB
cblr-12479	244	7	“	"	PUNCT
cblr-12479	244	8	partnership	partnership	NOUN
cblr-12479	244	9	-	-	PUNCT
cblr-12479	244	10	type	type	NOUN
cblr-12479	244	11	”	"	PUNCT
cblr-12479	244	12	forms	form	NOUN
cblr-12479	244	13	,	,	PUNCT
cblr-12479	244	14	emerging	emerge	VERB
cblr-12479	244	15	alternatives	alternative	NOUN
cblr-12479	244	16	to	to	ADP
cblr-12479	244	17	the	the	DET
cblr-12479	244	18	corporate	corporate	ADJ
cblr-12479	244	19	form	form	NOUN
cblr-12479	244	20	that	that	PRON
cblr-12479	244	21	provide	provide	VERB
cblr-12479	244	22	enhanced	enhanced	ADJ
cblr-12479	244	23	flexibility	flexibility	NOUN
cblr-12479	244	24	and	and	CCONJ
cblr-12479	244	25	pass	pass	VERB
cblr-12479	244	26	-	-	PUNCT
cblr-12479	244	27	through	through	ADP
cblr-12479	244	28	taxation	taxation	NOUN
cblr-12479	244	29	,	,	PUNCT
cblr-12479	244	30	but	but	CCONJ
cblr-12479	244	31	also	also	ADV
cblr-12479	244	32	governance	governance	NOUN
cblr-12479	244	33	challenges	challenge	NOUN
cblr-12479	244	34	for	for	ADP
cblr-12479	244	35	startups	startup	NOUN
cblr-12479	244	36	—	—	PUNCT
cblr-12479	244	37	e.g.	e.g.	ADV
cblr-12479	244	38	,	,	PUNCT
cblr-12479	244	39	those	those	PRON
cblr-12479	244	40	derived	derive	VERB
cblr-12479	244	41	from	from	ADP
cblr-12479	244	42	equalsharing	equalshare	VERB
cblr-12479	244	43	rules	rule	NOUN
cblr-12479	244	44	)	)	PUNCT
cblr-12479	244	45	.	.	PUNCT
cblr-12479	245	1	696	696	NUM
cblr-12479	245	2	columbia	columbia	PROPN
cblr-12479	245	3	business	business	NOUN
cblr-12479	245	4	law	law	PROPN
cblr-12479	245	5	review	review	NOUN
cblr-12479	245	6	[	[	X
cblr-12479	245	7	vol	vol	NOUN
cblr-12479	245	8	.	.	PUNCT
cblr-12479	245	9	2023	2023	NUM
cblr-12479	245	10	the	the	DET
cblr-12479	245	11	conversion	conversion	NOUN
cblr-12479	245	12	of	of	ADP
cblr-12479	245	13	the	the	DET
cblr-12479	245	14	legal	legal	ADJ
cblr-12479	245	15	entity	entity	NOUN
cblr-12479	245	16	into	into	ADP
cblr-12479	245	17	a	a	DET
cblr-12479	245	18	corporation	corporation	NOUN
cblr-12479	245	19	(	(	PUNCT
cblr-12479	245	20	and	and	CCONJ
cblr-12479	245	21	relinquishing	relinquish	VERB
cblr-12479	245	22	the	the	DET
cblr-12479	245	23	tax	tax	NOUN
cblr-12479	245	24	benefit	benefit	NOUN
cblr-12479	245	25	)	)	PUNCT
cblr-12479	245	26	or	or	CCONJ
cblr-12479	245	27	allocating	allocate	VERB
cblr-12479	245	28	control	control	NOUN
cblr-12479	245	29	to	to	ADP
cblr-12479	245	30	the	the	DET
cblr-12479	245	31	stronger	strong	ADJ
cblr-12479	245	32	party	party	NOUN
cblr-12479	245	33	in	in	ADP
cblr-12479	245	34	the	the	DET
cblr-12479	245	35	bargain	bargain	NOUN
cblr-12479	245	36	(	(	PUNCT
cblr-12479	245	37	instead	instead	ADV
cblr-12479	245	38	of	of	ADP
cblr-12479	245	39	making	make	VERB
cblr-12479	245	40	it	it	PRON
cblr-12479	245	41	contingent	contingent	ADJ
cblr-12479	245	42	)	)	PUNCT
cblr-12479	245	43	.	.	PUNCT
cblr-12479	246	1	although	although	SCONJ
cblr-12479	246	2	there	there	PRON
cblr-12479	246	3	is	be	VERB
cblr-12479	246	4	a	a	DET
cblr-12479	246	5	trend	trend	NOUN
cblr-12479	246	6	toward	toward	ADP
cblr-12479	246	7	enabling	enable	VERB
cblr-12479	246	8	the	the	DET
cblr-12479	246	9	separation	separation	NOUN
cblr-12479	246	10	of	of	ADP
cblr-12479	246	11	cash	cash	NOUN
cblr-12479	246	12	flow	flow	NOUN
cblr-12479	246	13	from	from	ADP
cblr-12479	246	14	control	control	NOUN
cblr-12479	246	15	rights	right	NOUN
cblr-12479	246	16	in	in	ADP
cblr-12479	246	17	all	all	DET
cblr-12479	246	18	types	type	NOUN
cblr-12479	246	19	of	of	ADP
cblr-12479	246	20	private	private	ADJ
cblr-12479	246	21	companies	company	NOUN
cblr-12479	246	22	,	,	PUNCT
cblr-12479	246	23	absolute	absolute	ADJ
cblr-12479	246	24	freedom	freedom	NOUN
cblr-12479	246	25	is	be	AUX
cblr-12479	246	26	far	far	ADV
cblr-12479	246	27	from	from	ADP
cblr-12479	246	28	being	be	AUX
cblr-12479	246	29	the	the	DET
cblr-12479	246	30	standard	standard	ADJ
cblr-12479	246	31	norm	norm	NOUN
cblr-12479	246	32	.	.	PUNCT
cblr-12479	247	1	for	for	ADP
cblr-12479	247	2	example	example	NOUN
cblr-12479	247	3	,	,	PUNCT
cblr-12479	247	4	the	the	DET
cblr-12479	247	5	latest	late	ADJ
cblr-12479	247	6	italian	italian	ADJ
cblr-12479	247	7	reform	reform	NOUN
cblr-12479	247	8	explicitly	explicitly	ADV
cblr-12479	247	9	enabled	enable	VERB
cblr-12479	247	10	multiple	multiple	ADJ
cblr-12479	247	11	voting	voting	NOUN
cblr-12479	247	12	in	in	ADP
cblr-12479	247	13	limited	limited	ADJ
cblr-12479	247	14	liability	liability	NOUN
cblr-12479	247	15	companies	company	NOUN
cblr-12479	247	16	“	"	PUNCT
cblr-12479	247	17	within	within	ADP
cblr-12479	247	18	the	the	DET
cblr-12479	247	19	limits	limit	NOUN
cblr-12479	247	20	imposed	impose	VERB
cblr-12479	247	21	by	by	ADP
cblr-12479	247	22	law,”79	law,”79	PROPN
cblr-12479	247	23	which	which	PRON
cblr-12479	247	24	,	,	PUNCT
cblr-12479	247	25	according	accord	VERB
cblr-12479	247	26	to	to	ADP
cblr-12479	247	27	some	some	DET
cblr-12479	247	28	legal	legal	ADJ
cblr-12479	247	29	scholars	scholar	NOUN
cblr-12479	247	30	,	,	PUNCT
cblr-12479	247	31	indicates	indicate	VERB
cblr-12479	247	32	that	that	SCONJ
cblr-12479	247	33	it	it	PRON
cblr-12479	247	34	is	be	AUX
cblr-12479	247	35	a	a	DET
cblr-12479	247	36	maximum	maximum	NOUN
cblr-12479	247	37	of	of	ADP
cblr-12479	247	38	three	three	NUM
cblr-12479	247	39	votes	vote	NOUN
cblr-12479	247	40	per	per	ADP
cblr-12479	247	41	share	share	NOUN
cblr-12479	247	42	and	and	CCONJ
cblr-12479	247	43	,	,	PUNCT
cblr-12479	247	44	in	in	ADP
cblr-12479	247	45	any	any	DET
cblr-12479	247	46	case	case	NOUN
cblr-12479	247	47	,	,	PUNCT
cblr-12479	247	48	shares	share	NOUN
cblr-12479	247	49	with	with	ADP
cblr-12479	247	50	multiple	multiple	ADJ
cblr-12479	247	51	votes	vote	NOUN
cblr-12479	247	52	can	can	AUX
cblr-12479	247	53	not	not	PART
cblr-12479	247	54	exceed	exceed	VERB
cblr-12479	247	55	half	half	NOUN
cblr-12479	247	56	of	of	ADP
cblr-12479	247	57	the	the	DET
cblr-12479	247	58	capital.80	capital.80	PROPN
cblr-12479	247	59	portugal	portugal	PROPN
cblr-12479	247	60	preserved	preserve	VERB
cblr-12479	247	61	similar	similar	ADJ
cblr-12479	247	62	restrictions	restriction	NOUN
cblr-12479	247	63	after	after	ADP
cblr-12479	247	64	its	its	PRON
cblr-12479	247	65	2015	2015	NUM
cblr-12479	247	66	reform.81	reform.81	NOUN
cblr-12479	247	67	in	in	ADP
cblr-12479	247	68	march	march	PROPN
cblr-12479	247	69	2021	2021	NUM
cblr-12479	247	70	,	,	PUNCT
cblr-12479	247	71	brazil	brazil	PROPN
cblr-12479	247	72	issued	issue	VERB
cblr-12479	247	73	an	an	DET
cblr-12479	247	74	emergency	emergency	NOUN
cblr-12479	247	75	decree	decree	NOUN
cblr-12479	247	76	directed	direct	VERB
cblr-12479	247	77	to	to	PART
cblr-12479	247	78	rapidly	rapidly	ADV
cblr-12479	247	79	improve	improve	VERB
cblr-12479	247	80	its	its	PRON
cblr-12479	247	81	business	business	NOUN
cblr-12479	247	82	regulatory	regulatory	ADJ
cblr-12479	247	83	environment	environment	NOUN
cblr-12479	247	84	,	,	PUNCT
cblr-12479	247	85	enabling	enable	VERB
cblr-12479	247	86	multiple	multiple	ADJ
cblr-12479	247	87	voting	voting	NOUN
cblr-12479	247	88	rights	right	NOUN
cblr-12479	247	89	for	for	ADP
cblr-12479	247	90	up	up	ADP
cblr-12479	247	91	to	to	PART
cblr-12479	247	92	ten	ten	NUM
cblr-12479	247	93	per	per	ADP
cblr-12479	247	94	share	share	NOUN
cblr-12479	247	95	,	,	PUNCT
cblr-12479	247	96	for	for	ADP
cblr-12479	247	97	a	a	DET
cblr-12479	247	98	maximum	maximum	NOUN
cblr-12479	247	99	of	of	ADP
cblr-12479	247	100	seven	seven	NUM
cblr-12479	247	101	years	year	NOUN
cblr-12479	247	102	,	,	PUNCT
cblr-12479	247	103	extendable	extendable	ADJ
cblr-12479	247	104	only	only	ADV
cblr-12479	247	105	once	once	ADV
cblr-12479	247	106	upon	upon	SCONJ
cblr-12479	247	107	shareholder	shareholder	NOUN
cblr-12479	247	108	approval.82	approval.82	NOUN
cblr-12479	247	109	these	these	DET
cblr-12479	247	110	amendments	amendment	NOUN
cblr-12479	247	111	were	be	AUX
cblr-12479	247	112	included	include	VERB
cblr-12479	247	113	in	in	ADP
cblr-12479	247	114	a	a	DET
cblr-12479	247	115	permanent	permanent	ADJ
cblr-12479	247	116	legal	legal	ADJ
cblr-12479	247	117	reform	reform	NOUN
cblr-12479	247	118	that	that	PRON
cblr-12479	247	119	allowed	allow	VERB
cblr-12479	247	120	the	the	DET
cblr-12479	247	121	extension	extension	NOUN
cblr-12479	247	122	more	more	ADV
cblr-12479	247	123	than	than	ADP
cblr-12479	247	124	once	once	ADV
cblr-12479	247	125	,	,	PUNCT
cblr-12479	247	126	but	but	CCONJ
cblr-12479	247	127	subject	subject	ADJ
cblr-12479	247	128	to	to	ADP
cblr-12479	247	129	specific	specific	ADJ
cblr-12479	247	130	conditions.83	conditions.83	NOUN
cblr-12479	247	131	as	as	SCONJ
cblr-12479	247	132	initially	initially	ADV
cblr-12479	247	133	stated	state	VERB
cblr-12479	247	134	,	,	PUNCT
cblr-12479	247	135	the	the	DET
cblr-12479	247	136	main	main	ADJ
cblr-12479	247	137	economic	economic	ADJ
cblr-12479	247	138	justification	justification	NOUN
cblr-12479	247	139	of	of	ADP
cblr-12479	247	140	the	the	DET
cblr-12479	247	141	one	one	NUM
cblr-12479	247	142	-	-	PUNCT
cblr-12479	247	143	share	share	NOUN
cblr-12479	247	144	one	one	NUM
cblr-12479	247	145	-	-	PUNCT
cblr-12479	247	146	vote	vote	NOUN
cblr-12479	247	147	rule	rule	NOUN
cblr-12479	247	148	is	be	AUX
cblr-12479	247	149	that	that	SCONJ
cblr-12479	247	150	decision	decision	NOUN
cblr-12479	247	151	-	-	PUNCT
cblr-12479	247	152	making	make	VERB
cblr-12479	247	153	power	power	NOUN
cblr-12479	247	154	should	should	AUX
cblr-12479	247	155	match	match	VERB
cblr-12479	247	156	financial	financial	ADJ
cblr-12479	247	157	incentives	incentive	NOUN
cblr-12479	247	158	,	,	PUNCT
cblr-12479	247	159	which	which	PRON
cblr-12479	247	160	is	be	AUX
cblr-12479	247	161	sensible	sensible	ADJ
cblr-12479	247	162	for	for	ADP
cblr-12479	247	163	most	most	ADJ
cblr-12479	247	164	businesses	business	NOUN
cblr-12479	247	165	.	.	PUNCT
cblr-12479	248	1	however	however	ADV
cblr-12479	248	2	,	,	PUNCT
cblr-12479	248	3	there	there	PRON
cblr-12479	248	4	is	be	VERB
cblr-12479	248	5	evidence	evidence	NOUN
cblr-12479	248	6	of	of	ADP
cblr-12479	248	7	certain	certain	ADJ
cblr-12479	248	8	socially	socially	ADV
cblr-12479	248	9	efficient	efficient	ADJ
cblr-12479	248	10	arrangements	arrangement	NOUN
cblr-12479	248	11	departing	depart	VERB
cblr-12479	248	12	from	from	ADP
cblr-12479	248	13	that	that	DET
cblr-12479	248	14	rule	rule	NOUN
cblr-12479	248	15	in	in	ADP
cblr-12479	248	16	public	public	ADJ
cblr-12479	248	17	79	79	NUM
cblr-12479	248	18	giudici	giudici	NOUN
cblr-12479	248	19	&	&	CCONJ
cblr-12479	248	20	agster	agster	PROPN
cblr-12479	248	21	,	,	PUNCT
cblr-12479	248	22	supra	supra	PROPN
cblr-12479	248	23	note	note	PROPN
cblr-12479	248	24	18	18	NUM
cblr-12479	248	25	,	,	PUNCT
cblr-12479	248	26	at	at	ADP
cblr-12479	248	27	615	615	NUM
cblr-12479	248	28	.	.	PUNCT
cblr-12479	248	29	80	80	NUM
cblr-12479	249	1	i	i	PRON
cblr-12479	249	2	d.	d.	NOUN
cblr-12479	249	3	at	at	ADP
cblr-12479	249	4	620	620	NUM
cblr-12479	249	5	.	.	PUNCT
cblr-12479	250	1	81	81	NUM
cblr-12479	250	2	daniela	daniela	PROPN
cblr-12479	250	3	baptista	baptista	PROPN
cblr-12479	250	4	,	,	PUNCT
cblr-12479	250	5	ações	ações	PROPN
cblr-12479	250	6	preferenciais	preferenciais	PROPN
cblr-12479	250	7	sem	sem	PROPN
cblr-12479	250	8	voto	voto	PROPN
cblr-12479	250	9	(	(	PUNCT
cblr-12479	250	10	em	em	PRON
cblr-12479	250	11	particular	particular	ADJ
cblr-12479	250	12	,	,	PUNCT
cblr-12479	250	13	as	as	SCONJ
cblr-12479	250	14	detidas	detidas	PROPN
cblr-12479	250	15	por	por	PROPN
cblr-12479	250	16	investidores	investidore	NOUN
cblr-12479	250	17	qualificados	qualificado	NOUN
cblr-12479	250	18	)	)	PUNCT
cblr-12479	250	19	,	,	PUNCT
cblr-12479	250	20	iv	iv	NUM
cblr-12479	250	21	congr	congr	NOUN
cblr-12479	250	22	.	.	PUNCT
cblr-12479	250	23	direito	direito	PROPN
cblr-12479	250	24	soc	soc	PROPN
cblr-12479	250	25	.	.	PUNCT
cblr-12479	251	1	em	em	PRON
cblr-12479	251	2	rev	rev	VERB
cblr-12479	251	3	.	.	PROPN
cblr-12479	252	1	411	411	NUM
cblr-12479	252	2	(	(	PUNCT
cblr-12479	252	3	2016	2016	NUM
cblr-12479	252	4	)	)	PUNCT
cblr-12479	252	5	.	.	PUNCT
cblr-12479	253	1	82	82	NUM
cblr-12479	253	2	see	see	VERB
cblr-12479	253	3	medida	medida	PROPN
cblr-12479	253	4	provisória	provisória	NOUN
cblr-12479	253	5	no	no	INTJ
cblr-12479	253	6	.	.	NOUN
cblr-12479	253	7	1.040	1.040	NUM
cblr-12479	253	8	(	(	PUNCT
cblr-12479	253	9	2021	2021	NUM
cblr-12479	253	10	)	)	PUNCT
cblr-12479	253	11	;	;	PUNCT
cblr-12479	253	12	clarissa	clarissa	PROPN
cblr-12479	253	13	freitas	freitas	PROPN
cblr-12479	253	14	&	&	CCONJ
cblr-12479	253	15	amanda	amanda	PROPN
cblr-12479	253	16	costa	costa	PROPN
cblr-12479	253	17	vella	vella	PROPN
cblr-12479	253	18	,	,	PUNCT
cblr-12479	253	19	mp	mp	PROPN
cblr-12479	253	20	1,040	1,040	NUM
cblr-12479	253	21	and	and	CCONJ
cblr-12479	253	22	the	the	DET
cblr-12479	253	23	debate	debate	NOUN
cblr-12479	253	24	on	on	ADP
cblr-12479	253	25	plural	plural	ADJ
cblr-12479	253	26	voting	voting	NOUN
cblr-12479	253	27	,	,	PUNCT
cblr-12479	253	28	machado	machado	PROPN
cblr-12479	253	29	meyer	meyer	PROPN
cblr-12479	253	30	(	(	PUNCT
cblr-12479	253	31	july	july	PROPN
cblr-12479	253	32	19	19	NUM
cblr-12479	253	33	,	,	PUNCT
cblr-12479	253	34	2021	2021	NUM
cblr-12479	253	35	)	)	PUNCT
cblr-12479	253	36	,	,	PUNCT
cblr-12479	253	37	https://www.machadomeyer.com.br/en/recentpublications/publications/corporate/mp-1-040-and-the-debate-on-pluralvoting	https://www.machadomeyer.com.br/en/recentpublications/publications/corporate/mp-1-040-and-the-debate-on-pluralvote	VERB
cblr-12479	253	38	[	[	X
cblr-12479	253	39	https://perma.cc/gxp6-rgrh	https://perma.cc/gxp6-rgrh	X
cblr-12479	253	40	]	]	PUNCT
cblr-12479	253	41	.	.	PUNCT
cblr-12479	254	1	83	83	NUM
cblr-12479	254	2	see	see	VERB
cblr-12479	254	3	brazilian	brazilian	ADJ
cblr-12479	254	4	law	law	NOUN
cblr-12479	254	5	no	no	INTJ
cblr-12479	254	6	.	.	NOUN
cblr-12479	254	7	14,195	14,195	NUM
cblr-12479	254	8	(	(	PUNCT
cblr-12479	254	9	2021	2021	NUM
cblr-12479	254	10	)	)	PUNCT
cblr-12479	254	11	.	.	PUNCT
cblr-12479	255	1	no	no	INTJ
cblr-12479	255	2	.	.	NOUN
cblr-12479	256	1	2	2	NUM
cblr-12479	256	2	]	]	PUNCT
cblr-12479	256	3	the	the	DET
cblr-12479	256	4	law	law	NOUN
cblr-12479	256	5	of	of	ADP
cblr-12479	256	6	contingent	contingent	NOUN
cblr-12479	256	7	control	control	NOUN
cblr-12479	256	8	697	697	NUM
cblr-12479	256	9	markets,84	markets,84	NOUN
cblr-12479	256	10	and	and	CCONJ
cblr-12479	256	11	exceptions	exception	NOUN
cblr-12479	256	12	to	to	ADP
cblr-12479	256	13	that	that	DET
cblr-12479	256	14	rule	rule	NOUN
cblr-12479	256	15	have	have	AUX
cblr-12479	256	16	been	be	AUX
cblr-12479	256	17	instrumental	instrumental	ADJ
cblr-12479	256	18	in	in	ADP
cblr-12479	256	19	successful	successful	ADJ
cblr-12479	256	20	vc	vc	PROPN
cblr-12479	256	21	financings.85	financings.85	PROPN
cblr-12479	256	22	hence	hence	ADV
cblr-12479	256	23	,	,	PUNCT
cblr-12479	256	24	while	while	SCONJ
cblr-12479	256	25	the	the	DET
cblr-12479	256	26	balance	balance	NOUN
cblr-12479	256	27	between	between	ADP
cblr-12479	256	28	rigid	rigid	ADJ
cblr-12479	256	29	and	and	CCONJ
cblr-12479	256	30	flexible	flexible	ADJ
cblr-12479	256	31	regulation	regulation	NOUN
cblr-12479	256	32	is	be	AUX
cblr-12479	256	33	context	context	NOUN
cblr-12479	256	34	-	-	PUNCT
cblr-12479	256	35	specific	specific	ADJ
cblr-12479	256	36	,	,	PUNCT
cblr-12479	256	37	strict	strict	ADJ
cblr-12479	256	38	one	one	NUM
cblr-12479	256	39	-	-	PUNCT
cblr-12479	256	40	share	share	NOUN
cblr-12479	256	41	one	one	NUM
cblr-12479	256	42	-	-	PUNCT
cblr-12479	256	43	vote	vote	NOUN
cblr-12479	256	44	rules	rule	NOUN
cblr-12479	256	45	in	in	ADP
cblr-12479	256	46	non	non	ADJ
cblr-12479	256	47	-	-	ADJ
cblr-12479	256	48	listed	listed	ADJ
cblr-12479	256	49	corporations	corporation	NOUN
cblr-12479	256	50	merit	merit	VERB
cblr-12479	256	51	a	a	DET
cblr-12479	256	52	renewed	renew	VERB
cblr-12479	256	53	review	review	NOUN
cblr-12479	256	54	,	,	PUNCT
cblr-12479	256	55	commensurate	commensurate	ADJ
cblr-12479	256	56	with	with	ADP
cblr-12479	256	57	the	the	DET
cblr-12479	256	58	goal	goal	NOUN
cblr-12479	256	59	of	of	ADP
cblr-12479	256	60	expanding	expand	VERB
cblr-12479	256	61	the	the	DET
cblr-12479	256	62	range	range	NOUN
cblr-12479	256	63	of	of	ADP
cblr-12479	256	64	efficient	efficient	ADJ
cblr-12479	256	65	contracting	contracting	NOUN
cblr-12479	256	66	between	between	ADP
cblr-12479	256	67	entrepreneurs	entrepreneur	NOUN
cblr-12479	256	68	and	and	CCONJ
cblr-12479	256	69	investors	investor	NOUN
cblr-12479	256	70	,	,	PUNCT
cblr-12479	256	71	and	and	CCONJ
cblr-12479	256	72	developing	develop	VERB
cblr-12479	256	73	vc	vc	PROPN
cblr-12479	256	74	markets	market	NOUN
cblr-12479	256	75	.	.	PUNCT
cblr-12479	257	1	b.	b.	PROPN
cblr-12479	257	2	voting	voting	NOUN
cblr-12479	257	3	and	and	CCONJ
cblr-12479	257	4	board	board	NOUN
cblr-12479	257	5	representation	representation	NOUN
cblr-12479	257	6	a	a	DET
cblr-12479	257	7	second	second	ADJ
cblr-12479	257	8	way	way	NOUN
cblr-12479	257	9	corporate	corporate	ADJ
cblr-12479	257	10	law	law	NOUN
cblr-12479	257	11	determines	determine	VERB
cblr-12479	257	12	the	the	DET
cblr-12479	257	13	range	range	NOUN
cblr-12479	257	14	of	of	ADP
cblr-12479	257	15	bargains	bargain	NOUN
cblr-12479	257	16	and	and	CCONJ
cblr-12479	257	17	agreements	agreement	NOUN
cblr-12479	257	18	on	on	ADP
cblr-12479	257	19	control	control	NOUN
cblr-12479	257	20	in	in	ADP
cblr-12479	257	21	vc	vc	PROPN
cblr-12479	257	22	investments	investment	NOUN
cblr-12479	257	23	is	be	AUX
cblr-12479	257	24	by	by	ADP
cblr-12479	257	25	regulating	regulate	VERB
cblr-12479	257	26	how	how	SCONJ
cblr-12479	257	27	voting	voting	NOUN
cblr-12479	257	28	and	and	CCONJ
cblr-12479	257	29	board	board	NOUN
cblr-12479	257	30	representation	representation	NOUN
cblr-12479	257	31	rights	right	NOUN
cblr-12479	257	32	can	can	AUX
cblr-12479	257	33	be	be	AUX
cblr-12479	257	34	distributed	distribute	VERB
cblr-12479	257	35	among	among	ADP
cblr-12479	257	36	various	various	ADJ
cblr-12479	257	37	classes	class	NOUN
cblr-12479	257	38	of	of	ADP
cblr-12479	257	39	shares	share	NOUN
cblr-12479	257	40	.	.	PUNCT
cblr-12479	258	1	generally	generally	ADV
cblr-12479	258	2	,	,	PUNCT
cblr-12479	258	3	all	all	DET
cblr-12479	258	4	shares	share	NOUN
cblr-12479	258	5	enjoy	enjoy	VERB
cblr-12479	258	6	voting	voting	NOUN
cblr-12479	258	7	rights	right	NOUN
cblr-12479	258	8	to	to	PART
cblr-12479	258	9	approve	approve	VERB
cblr-12479	258	10	fundamental	fundamental	ADJ
cblr-12479	258	11	transactions	transaction	NOUN
cblr-12479	258	12	(	(	PUNCT
cblr-12479	258	13	i.e.	i.e.	X
cblr-12479	258	14	,	,	PUNCT
cblr-12479	258	15	those	those	PRON
cblr-12479	258	16	that	that	PRON
cblr-12479	258	17	affect	affect	VERB
cblr-12479	258	18	the	the	DET
cblr-12479	258	19	relationships	relationship	NOUN
cblr-12479	258	20	among	among	ADP
cblr-12479	258	21	constituents	constituent	NOUN
cblr-12479	258	22	)	)	PUNCT
cblr-12479	258	23	and	and	CCONJ
cblr-12479	258	24	to	to	PART
cblr-12479	258	25	decide	decide	VERB
cblr-12479	258	26	who	who	PRON
cblr-12479	258	27	will	will	AUX
cblr-12479	258	28	sit	sit	VERB
cblr-12479	258	29	on	on	ADP
cblr-12479	258	30	the	the	DET
cblr-12479	258	31	board	board	NOUN
cblr-12479	258	32	of	of	ADP
cblr-12479	258	33	directors.86	directors.86	NOUN
cblr-12479	258	34	these	these	DET
cblr-12479	258	35	decision	decision	NOUN
cblr-12479	258	36	-	-	PUNCT
cblr-12479	258	37	making	make	VERB
cblr-12479	258	38	rights	right	NOUN
cblr-12479	258	39	distinguish	distinguish	VERB
cblr-12479	258	40	equity	equity	NOUN
cblr-12479	258	41	from	from	ADP
cblr-12479	258	42	debt,87	debt,87	NOUN
cblr-12479	258	43	and	and	CCONJ
cblr-12479	258	44	are	be	AUX
cblr-12479	258	45	governed	govern	VERB
cblr-12479	258	46	by	by	ADP
cblr-12479	258	47	corporate	corporate	ADJ
cblr-12479	258	48	law	law	NOUN
cblr-12479	258	49	.	.	PUNCT
cblr-12479	259	1	to	to	ADP
cblr-12479	259	2	the	the	DET
cblr-12479	259	3	extent	extent	NOUN
cblr-12479	259	4	that	that	SCONJ
cblr-12479	259	5	these	these	DET
cblr-12479	259	6	rights	right	NOUN
cblr-12479	259	7	might	might	AUX
cblr-12479	259	8	be	be	AUX
cblr-12479	259	9	restricted	restrict	VERB
cblr-12479	259	10	or	or	CCONJ
cblr-12479	259	11	expanded	expand	VERB
cblr-12479	259	12	in	in	ADP
cblr-12479	259	13	certain	certain	ADJ
cblr-12479	259	14	circumstances	circumstance	NOUN
cblr-12479	259	15	,	,	PUNCT
cblr-12479	259	16	cross	cross	ADJ
cblr-12479	259	17	-	-	ADJ
cblr-12479	259	18	jurisdictional	jurisdictional	ADJ
cblr-12479	259	19	differences	difference	NOUN
cblr-12479	259	20	are	be	AUX
cblr-12479	259	21	vital	vital	ADJ
cblr-12479	259	22	for	for	ADP
cblr-12479	259	23	vc	vc	PROPN
cblr-12479	259	24	.	.	PROPN
cblr-12479	259	25	1	1	NUM
cblr-12479	259	26	.	.	X
cblr-12479	259	27	voting	voting	NOUN
cblr-12479	259	28	and	and	CCONJ
cblr-12479	259	29	board	board	NOUN
cblr-12479	259	30	powers	power	NOUN
cblr-12479	259	31	to	to	PART
cblr-12479	259	32	enable	enable	VERB
cblr-12479	259	33	socially	socially	ADV
cblr-12479	259	34	efficient	efficient	ADJ
cblr-12479	259	35	financing	financing	NOUN
cblr-12479	259	36	agreements	agreement	NOUN
cblr-12479	259	37	,	,	PUNCT
cblr-12479	259	38	vcs	vcs	PROPN
cblr-12479	259	39	bargain	bargain	NOUN
cblr-12479	259	40	with	with	ADP
cblr-12479	259	41	entrepreneurs	entrepreneur	NOUN
cblr-12479	259	42	over	over	ADP
cblr-12479	259	43	how	how	SCONJ
cblr-12479	259	44	voting	voting	NOUN
cblr-12479	259	45	rights	right	NOUN
cblr-12479	259	46	are	be	AUX
cblr-12479	259	47	allocated	allocate	VERB
cblr-12479	259	48	to	to	ADP
cblr-12479	259	49	different	different	ADJ
cblr-12479	259	50	classes	class	NOUN
cblr-12479	259	51	of	of	ADP
cblr-12479	259	52	shares	share	NOUN
cblr-12479	259	53	.	.	PUNCT
cblr-12479	260	1	on	on	ADP
cblr-12479	260	2	the	the	DET
cblr-12479	260	3	most	most	ADV
cblr-12479	260	4	restrictive	restrictive	ADJ
cblr-12479	260	5	side	side	NOUN
cblr-12479	260	6	of	of	ADP
cblr-12479	260	7	the	the	DET
cblr-12479	260	8	voting	voting	NOUN
cblr-12479	260	9	rights	right	NOUN
cblr-12479	260	10	spectrum	spectrum	NOUN
cblr-12479	260	11	,	,	PUNCT
cblr-12479	260	12	vc	vc	NOUN
cblr-12479	260	13	-	-	PUNCT
cblr-12479	260	14	backed	back	VERB
cblr-12479	260	15	firms	firm	NOUN
cblr-12479	260	16	may	may	AUX
cblr-12479	260	17	issue	issue	VERB
cblr-12479	260	18	84	84	NUM
cblr-12479	260	19	burkart	burkart	NOUN
cblr-12479	260	20	&	&	CCONJ
cblr-12479	260	21	lee	lee	PROPN
cblr-12479	260	22	,	,	PUNCT
cblr-12479	260	23	supra	supra	PROPN
cblr-12479	260	24	note	note	PROPN
cblr-12479	260	25	66	66	NUM
cblr-12479	260	26	.	.	PUNCT
cblr-12479	261	1	see	see	AUX
cblr-12479	261	2	also	also	ADV
cblr-12479	261	3	aurelio	aurelio	PROPN
cblr-12479	261	4	gurrea	gurrea	PROPN
cblr-12479	261	5	-	-	PUNCT
cblr-12479	261	6	martínez	martínez	PROPN
cblr-12479	261	7	,	,	PUNCT
cblr-12479	261	8	theory	theory	NOUN
cblr-12479	261	9	,	,	PUNCT
cblr-12479	261	10	evidence	evidence	NOUN
cblr-12479	261	11	,	,	PUNCT
cblr-12479	261	12	and	and	CCONJ
cblr-12479	261	13	policy	policy	NOUN
cblr-12479	261	14	on	on	ADP
cblr-12479	261	15	dual	dual	ADJ
cblr-12479	261	16	-	-	PUNCT
cblr-12479	261	17	class	class	NOUN
cblr-12479	261	18	shares	share	NOUN
cblr-12479	261	19	:	:	PUNCT
cblr-12479	261	20	a	a	DET
cblr-12479	261	21	country	country	NOUN
cblr-12479	261	22	-	-	PUNCT
cblr-12479	261	23	specific	specific	ADJ
cblr-12479	261	24	response	response	NOUN
cblr-12479	261	25	to	to	ADP
cblr-12479	261	26	a	a	DET
cblr-12479	261	27	global	global	ADJ
cblr-12479	261	28	debate	debate	NOUN
cblr-12479	261	29	,	,	PUNCT
cblr-12479	261	30	22	22	NUM
cblr-12479	261	31	eur	eur	NOUN
cblr-12479	261	32	.	.	PUNCT
cblr-12479	262	1	bus	bus	NOUN
cblr-12479	262	2	.	.	PUNCT
cblr-12479	263	1	org	org	PROPN
cblr-12479	263	2	.	.	PUNCT
cblr-12479	264	1	l.	l.	PROPN
cblr-12479	264	2	rev	rev	PROPN
cblr-12479	264	3	.	.	PROPN
cblr-12479	265	1	475	475	NUM
cblr-12479	265	2	(	(	PUNCT
cblr-12479	265	3	2021	2021	NUM
cblr-12479	265	4	)	)	PUNCT
cblr-12479	265	5	.	.	PUNCT
cblr-12479	266	1	85	85	NUM
cblr-12479	266	2	in	in	ADP
cblr-12479	266	3	fact	fact	NOUN
cblr-12479	266	4	,	,	PUNCT
cblr-12479	266	5	it	it	PRON
cblr-12479	266	6	is	be	AUX
cblr-12479	266	7	the	the	DET
cblr-12479	266	8	common	common	ADJ
cblr-12479	266	9	factor	factor	NOUN
cblr-12479	266	10	in	in	ADP
cblr-12479	266	11	vc	vc	PROPN
cblr-12479	266	12	deals	deal	NOUN
cblr-12479	266	13	worldwide	worldwide	ADV
cblr-12479	266	14	,	,	PUNCT
cblr-12479	266	15	regardless	regardless	ADV
cblr-12479	266	16	of	of	ADP
cblr-12479	266	17	differences	difference	NOUN
cblr-12479	266	18	in	in	ADP
cblr-12479	266	19	security	security	NOUN
cblr-12479	266	20	design	design	NOUN
cblr-12479	266	21	.	.	PUNCT
cblr-12479	267	1	see	see	VERB
cblr-12479	267	2	cumming	cumme	VERB
cblr-12479	267	3	et	et	PROPN
cblr-12479	267	4	al	al	PROPN
cblr-12479	267	5	.	.	PROPN
cblr-12479	267	6	,	,	PUNCT
cblr-12479	267	7	supra	supra	PROPN
cblr-12479	267	8	note	note	PROPN
cblr-12479	267	9	25	25	NUM
cblr-12479	267	10	.	.	PUNCT
cblr-12479	268	1	86	86	NUM
cblr-12479	268	2	kraakman	kraakman	PROPN
cblr-12479	268	3	et	et	PROPN
cblr-12479	268	4	al	al	PROPN
cblr-12479	268	5	.	.	PROPN
cblr-12479	268	6	,	,	PUNCT
cblr-12479	268	7	supra	supra	PROPN
cblr-12479	268	8	note	note	PROPN
cblr-12479	268	9	68	68	NUM
cblr-12479	268	10	,	,	PUNCT
cblr-12479	268	11	at	at	ADP
cblr-12479	268	12	49–61	49–61	NUM
cblr-12479	268	13	;	;	PUNCT
cblr-12479	268	14	see	see	VERB
cblr-12479	268	15	also	also	ADV
cblr-12479	268	16	da	da	PROPN
cblr-12479	268	17	rin	rin	PROPN
cblr-12479	268	18	&	&	CCONJ
cblr-12479	268	19	hellmann	hellmann	PROPN
cblr-12479	268	20	,	,	PUNCT
cblr-12479	268	21	supra	supra	PROPN
cblr-12479	268	22	note	note	PROPN
cblr-12479	268	23	27	27	NUM
cblr-12479	268	24	,	,	PUNCT
cblr-12479	268	25	at	at	ADP
cblr-12479	268	26	301–305	301–305	NUM
cblr-12479	268	27	.	.	PUNCT
cblr-12479	269	1	87	87	NUM
cblr-12479	269	2	to	to	PART
cblr-12479	269	3	be	be	AUX
cblr-12479	269	4	clear	clear	ADJ
cblr-12479	269	5	,	,	PUNCT
cblr-12479	269	6	they	they	PRON
cblr-12479	269	7	distinguish	distinguish	VERB
cblr-12479	269	8	one	one	NUM
cblr-12479	269	9	aspect	aspect	NOUN
cblr-12479	269	10	,	,	PUNCT
cblr-12479	269	11	i.e.	i.e.	X
cblr-12479	269	12	,	,	PUNCT
cblr-12479	269	13	“	"	PUNCT
cblr-12479	269	14	control	control	NOUN
cblr-12479	269	15	,	,	PUNCT
cblr-12479	269	16	”	"	PUNCT
cblr-12479	269	17	as	as	SCONJ
cblr-12479	269	18	these	these	DET
cblr-12479	269	19	securities	security	NOUN
cblr-12479	269	20	also	also	ADV
cblr-12479	269	21	differ	differ	VERB
cblr-12479	269	22	in	in	ADP
cblr-12479	269	23	how	how	SCONJ
cblr-12479	269	24	they	they	PRON
cblr-12479	269	25	allocate	allocate	VERB
cblr-12479	269	26	cash	cash	NOUN
cblr-12479	269	27	-	-	PUNCT
cblr-12479	269	28	flow	flow	NOUN
cblr-12479	269	29	rights	right	NOUN
cblr-12479	269	30	.	.	PUNCT
cblr-12479	270	1	see	see	VERB
cblr-12479	270	2	oliver	oliver	PROPN
cblr-12479	270	3	e.	e.	PROPN
cblr-12479	270	4	williamson	williamson	PROPN
cblr-12479	270	5	,	,	PUNCT
cblr-12479	270	6	corporate	corporate	ADJ
cblr-12479	270	7	finance	finance	NOUN
cblr-12479	270	8	and	and	CCONJ
cblr-12479	270	9	corporate	corporate	ADJ
cblr-12479	270	10	governance	governance	NOUN
cblr-12479	270	11	,	,	PUNCT
cblr-12479	270	12	43	43	NUM
cblr-12479	270	13	j.	j.	PROPN
cblr-12479	270	14	fin	fin	PROPN
cblr-12479	270	15	.	.	PUNCT
cblr-12479	271	1	567	567	NUM
cblr-12479	271	2	(	(	PUNCT
cblr-12479	271	3	1988	1988	NUM
cblr-12479	271	4	)	)	PUNCT
cblr-12479	271	5	;	;	PUNCT
cblr-12479	271	6	see	see	VERB
cblr-12479	271	7	also	also	ADV
cblr-12479	271	8	hart	hart	PROPN
cblr-12479	271	9	,	,	PUNCT
cblr-12479	271	10	supra	supra	PROPN
cblr-12479	271	11	note	note	PROPN
cblr-12479	271	12	33	33	NUM
cblr-12479	271	13	,	,	PUNCT
cblr-12479	271	14	at	at	ADP
cblr-12479	271	15	1084	1084	NUM
cblr-12479	271	16	.	.	PUNCT
cblr-12479	272	1	698	698	NUM
cblr-12479	272	2	columbia	columbia	PROPN
cblr-12479	272	3	business	business	NOUN
cblr-12479	272	4	law	law	PROPN
cblr-12479	272	5	review	review	NOUN
cblr-12479	272	6	[	[	X
cblr-12479	272	7	vol	vol	NOUN
cblr-12479	272	8	.	.	PUNCT
cblr-12479	272	9	2023	2023	NUM
cblr-12479	272	10	shares	share	NOUN
cblr-12479	272	11	without	without	ADP
cblr-12479	272	12	any	any	PRON
cblr-12479	272	13	of	of	ADP
cblr-12479	272	14	these	these	DET
cblr-12479	272	15	rights	right	NOUN
cblr-12479	272	16	and	and	CCONJ
cblr-12479	272	17	with	with	ADP
cblr-12479	272	18	additional	additional	ADJ
cblr-12479	272	19	restrictions	restriction	NOUN
cblr-12479	272	20	on	on	ADP
cblr-12479	272	21	transferability.88	transferability.88	NOUN
cblr-12479	272	22	these	these	DET
cblr-12479	272	23	“	"	PUNCT
cblr-12479	272	24	voteless	voteless	NOUN
cblr-12479	272	25	shares	share	NOUN
cblr-12479	272	26	”	"	PUNCT
cblr-12479	272	27	may	may	AUX
cblr-12479	272	28	be	be	AUX
cblr-12479	272	29	issued	issue	VERB
cblr-12479	272	30	as	as	ADP
cblr-12479	272	31	incentives	incentive	NOUN
cblr-12479	272	32	to	to	ADP
cblr-12479	272	33	employees,89	employees,89	NOUN
cblr-12479	272	34	allowing	allow	VERB
cblr-12479	272	35	them	they	PRON
cblr-12479	272	36	to	to	PART
cblr-12479	272	37	benefit	benefit	VERB
cblr-12479	272	38	from	from	ADP
cblr-12479	272	39	—	—	PUNCT
cblr-12479	272	40	and	and	CCONJ
cblr-12479	272	41	contribute	contribute	VERB
cblr-12479	272	42	efforts	effort	NOUN
cblr-12479	272	43	towards	towards	ADP
cblr-12479	272	44	—	—	PUNCT
cblr-12479	272	45	a	a	DET
cblr-12479	272	46	successful	successful	ADJ
cblr-12479	272	47	trade	trade	NOUN
cblr-12479	272	48	sale	sale	NOUN
cblr-12479	272	49	without	without	ADP
cblr-12479	272	50	disrupting	disrupt	VERB
cblr-12479	272	51	the	the	DET
cblr-12479	272	52	allocation	allocation	NOUN
cblr-12479	272	53	of	of	ADP
cblr-12479	272	54	control	control	NOUN
cblr-12479	272	55	and	and	CCONJ
cblr-12479	272	56	its	its	PRON
cblr-12479	272	57	intended	intend	VERB
cblr-12479	272	58	consequences	consequence	NOUN
cblr-12479	272	59	.	.	PUNCT
cblr-12479	273	1	an	an	DET
cblr-12479	273	2	indirect	indirect	ADJ
cblr-12479	273	3	and	and	CCONJ
cblr-12479	273	4	more	more	ADV
cblr-12479	273	5	flexible	flexible	ADJ
cblr-12479	273	6	limitation	limitation	NOUN
cblr-12479	273	7	to	to	ADP
cblr-12479	273	8	common	common	ADJ
cblr-12479	273	9	shareholders	shareholder	NOUN
cblr-12479	273	10	’	'	PUNCT
cblr-12479	273	11	rights	right	NOUN
cblr-12479	273	12	is	be	AUX
cblr-12479	273	13	to	to	PART
cblr-12479	273	14	authorize	authorize	VERB
cblr-12479	273	15	the	the	DET
cblr-12479	273	16	board	board	NOUN
cblr-12479	273	17	of	of	ADP
cblr-12479	273	18	directors	director	NOUN
cblr-12479	273	19	to	to	PART
cblr-12479	273	20	issue	issue	VERB
cblr-12479	273	21	new	new	ADJ
cblr-12479	273	22	shares	share	NOUN
cblr-12479	273	23	and	and	CCONJ
cblr-12479	273	24	nominate	nominate	ADJ
cblr-12479	273	25	board	board	NOUN
cblr-12479	273	26	members	member	NOUN
cblr-12479	273	27	,	,	PUNCT
cblr-12479	273	28	two	two	NUM
cblr-12479	273	29	of	of	ADP
cblr-12479	273	30	the	the	DET
cblr-12479	273	31	most	most	ADV
cblr-12479	273	32	sensitive	sensitive	ADJ
cblr-12479	273	33	decisions	decision	NOUN
cblr-12479	273	34	taken	take	VERB
cblr-12479	273	35	at	at	ADP
cblr-12479	273	36	the	the	DET
cblr-12479	273	37	general	general	ADJ
cblr-12479	273	38	shareholder	shareholder	NOUN
cblr-12479	273	39	meeting	meeting	NOUN
cblr-12479	273	40	.	.	PUNCT
cblr-12479	274	1	although	although	SCONJ
cblr-12479	274	2	founders	founder	NOUN
cblr-12479	274	3	are	be	AUX
cblr-12479	274	4	usually	usually	ADV
cblr-12479	274	5	members	member	NOUN
cblr-12479	274	6	of	of	ADP
cblr-12479	274	7	the	the	DET
cblr-12479	274	8	board	board	NOUN
cblr-12479	274	9	and	and	CCONJ
cblr-12479	274	10	the	the	DET
cblr-12479	274	11	management	management	NOUN
cblr-12479	274	12	team,90	team,90	NOUN
cblr-12479	274	13	these	these	DET
cblr-12479	274	14	restrictions	restriction	NOUN
cblr-12479	274	15	could	could	AUX
cblr-12479	274	16	significantly	significantly	ADV
cblr-12479	274	17	weaken	weaken	VERB
cblr-12479	274	18	them	they	PRON
cblr-12479	274	19	(	(	PUNCT
cblr-12479	274	20	e.g.	e.g.	ADV
cblr-12479	274	21	,	,	PUNCT
cblr-12479	274	22	if	if	SCONJ
cblr-12479	274	23	they	they	PRON
cblr-12479	274	24	only	only	ADV
cblr-12479	274	25	own	own	VERB
cblr-12479	274	26	common	common	ADJ
cblr-12479	274	27	shares	share	NOUN
cblr-12479	274	28	and	and	CCONJ
cblr-12479	274	29	the	the	DET
cblr-12479	274	30	company	company	NOUN
cblr-12479	274	31	’s	’s	PART
cblr-12479	274	32	underperformance	underperformance	NOUN
cblr-12479	274	33	forces	force	NOUN
cblr-12479	274	34	changes	change	NOUN
cblr-12479	274	35	in	in	ADP
cblr-12479	274	36	the	the	DET
cblr-12479	274	37	leadership	leadership	NOUN
cblr-12479	274	38	,	,	PUNCT
cblr-12479	274	39	they	they	PRON
cblr-12479	274	40	might	might	AUX
cblr-12479	274	41	lose	lose	VERB
cblr-12479	274	42	their	their	PRON
cblr-12479	274	43	formal	formal	ADJ
cblr-12479	274	44	influence	influence	NOUN
cblr-12479	274	45	in	in	ADP
cblr-12479	274	46	the	the	DET
cblr-12479	274	47	company	company	NOUN
cblr-12479	274	48	)	)	PUNCT
cblr-12479	274	49	.	.	PUNCT
cblr-12479	275	1	shares	share	NOUN
cblr-12479	275	2	may	may	AUX
cblr-12479	275	3	also	also	ADV
cblr-12479	275	4	be	be	AUX
cblr-12479	275	5	altered	alter	VERB
cblr-12479	275	6	to	to	PART
cblr-12479	275	7	enhance	enhance	VERB
cblr-12479	275	8	voting	voting	NOUN
cblr-12479	275	9	rights	right	NOUN
cblr-12479	275	10	.	.	PUNCT
cblr-12479	276	1	on	on	ADP
cblr-12479	276	2	this	this	DET
cblr-12479	276	3	expansive	expansive	ADJ
cblr-12479	276	4	end	end	NOUN
cblr-12479	276	5	of	of	ADP
cblr-12479	276	6	the	the	DET
cblr-12479	276	7	voting	voting	NOUN
cblr-12479	276	8	rights	right	NOUN
cblr-12479	276	9	spectrum	spectrum	NOUN
cblr-12479	276	10	are	be	AUX
cblr-12479	276	11	convertible	convertible	ADJ
cblr-12479	276	12	-	-	PUNCT
cblr-12479	276	13	preferred	prefer	VERB
cblr-12479	276	14	stock	stock	NOUN
cblr-12479	276	15	(	(	PUNCT
cblr-12479	276	16	cps	cps	PROPN
cblr-12479	276	17	)	)	PUNCT
cblr-12479	276	18	,	,	PUNCT
cblr-12479	276	19	which	which	PRON
cblr-12479	276	20	have	have	VERB
cblr-12479	276	21	multiple	multiple	ADJ
cblr-12479	276	22	votes	vote	NOUN
cblr-12479	276	23	and	and	CCONJ
cblr-12479	276	24	the	the	DET
cblr-12479	276	25	right	right	NOUN
cblr-12479	276	26	to	to	PART
cblr-12479	276	27	nominate	nominate	VERB
cblr-12479	276	28	and	and	CCONJ
cblr-12479	276	29	elect	elect	VERB
cblr-12479	276	30	,	,	PUNCT
cblr-12479	276	31	as	as	ADP
cblr-12479	276	32	a	a	DET
cblr-12479	276	33	class	class	NOUN
cblr-12479	276	34	,	,	PUNCT
cblr-12479	276	35	a	a	DET
cblr-12479	276	36	board	board	NOUN
cblr-12479	276	37	member.91	member.91	NOUN
cblr-12479	276	38	the	the	DET
cblr-12479	276	39	latter	latter	ADJ
cblr-12479	276	40	becomes	become	VERB
cblr-12479	276	41	of	of	ADP
cblr-12479	276	42	paramount	paramount	ADJ
cblr-12479	276	43	importance	importance	NOUN
cblr-12479	276	44	when	when	SCONJ
cblr-12479	276	45	firms	firm	NOUN
cblr-12479	276	46	empower	empower	VERB
cblr-12479	276	47	the	the	DET
cblr-12479	276	48	board	board	NOUN
cblr-12479	276	49	to	to	PART
cblr-12479	276	50	issue	issue	VERB
cblr-12479	276	51	preferred	preferred	ADJ
cblr-12479	276	52	shares	share	NOUN
cblr-12479	276	53	and	and	CCONJ
cblr-12479	276	54	to	to	PART
cblr-12479	276	55	autonomously	autonomously	ADV
cblr-12479	276	56	determine	determine	VERB
cblr-12479	276	57	the	the	DET
cblr-12479	276	58	privileges	privilege	NOUN
cblr-12479	276	59	attached	attach	VERB
cblr-12479	276	60	to	to	ADP
cblr-12479	276	61	them	they	PRON
cblr-12479	276	62	(	(	PUNCT
cblr-12479	276	63	i.e.	i.e.	X
cblr-12479	276	64	,	,	PUNCT
cblr-12479	276	65	blank	blank	ADJ
cblr-12479	276	66	-	-	PUNCT
cblr-12479	276	67	check	check	NOUN
cblr-12479	276	68	-	-	PUNCT
cblr-12479	276	69	preferred),92	preferred),92	NOUN
cblr-12479	276	70	which	which	PRON
cblr-12479	276	71	is	be	AUX
cblr-12479	276	72	perhaps	perhaps	ADV
cblr-12479	276	73	the	the	DET
cblr-12479	276	74	most	most	ADV
cblr-12479	276	75	expansive	expansive	ADJ
cblr-12479	276	76	form	form	NOUN
cblr-12479	276	77	of	of	ADP
cblr-12479	276	78	control	control	NOUN
cblr-12479	276	79	allocation	allocation	NOUN
cblr-12479	276	80	.	.	PUNCT
cblr-12479	277	1	in	in	ADP
cblr-12479	277	2	practice	practice	NOUN
cblr-12479	277	3	,	,	PUNCT
cblr-12479	277	4	holders	holder	NOUN
cblr-12479	277	5	of	of	ADP
cblr-12479	277	6	cps	cps	PROPN
cblr-12479	277	7	may	may	AUX
cblr-12479	277	8	use	use	VERB
cblr-12479	277	9	these	these	DET
cblr-12479	277	10	rights	right	NOUN
cblr-12479	277	11	to	to	PART
cblr-12479	277	12	negotiate	negotiate	VERB
cblr-12479	277	13	and	and	CCONJ
cblr-12479	277	14	approve	approve	VERB
cblr-12479	277	15	new	new	ADJ
cblr-12479	277	16	equity	equity	NOUN
cblr-12479	277	17	financing	financing	NOUN
cblr-12479	277	18	in	in	ADP
cblr-12479	277	19	ways	way	NOUN
cblr-12479	277	20	that	that	PRON
cblr-12479	277	21	dilute	dilute	VERB
cblr-12479	277	22	some	some	DET
cblr-12479	277	23	shareholders	shareholder	NOUN
cblr-12479	277	24	without	without	ADP
cblr-12479	277	25	their	their	PRON
cblr-12479	277	26	consent	consent	NOUN
cblr-12479	277	27	.	.	PUNCT
cblr-12479	278	1	88	88	NUM
cblr-12479	278	2	joseph	joseph	PROPN
cblr-12479	278	3	w.	w.	PROPN
cblr-12479	278	4	bartlett	bartlett	PROPN
cblr-12479	278	5	,	,	PUNCT
cblr-12479	278	6	fundamentals	fundamental	NOUN
cblr-12479	278	7	of	of	ADP
cblr-12479	278	8	venture	venture	NOUN
cblr-12479	278	9	capital	capital	NOUN
cblr-12479	278	10	43–45	43–45	PROPN
cblr-12479	278	11	(	(	PUNCT
cblr-12479	278	12	1999	1999	NUM
cblr-12479	278	13	)	)	PUNCT
cblr-12479	278	14	.	.	PUNCT
cblr-12479	279	1	89	89	NUM
cblr-12479	279	2	hellmann	hellmann	PROPN
cblr-12479	279	3	&	&	CCONJ
cblr-12479	279	4	puri	puri	PROPN
cblr-12479	279	5	,	,	PUNCT
cblr-12479	279	6	supra	supra	PROPN
cblr-12479	279	7	note	note	PROPN
cblr-12479	279	8	6	6	NUM
cblr-12479	279	9	,	,	PUNCT
cblr-12479	279	10	at	at	ADP
cblr-12479	279	11	177	177	NUM
cblr-12479	279	12	.	.	PUNCT
cblr-12479	280	1	90	90	NUM
cblr-12479	280	2	in	in	ADP
cblr-12479	280	3	fact	fact	NOUN
cblr-12479	280	4	,	,	PUNCT
cblr-12479	280	5	it	it	PRON
cblr-12479	280	6	is	be	AUX
cblr-12479	280	7	what	what	PRON
cblr-12479	280	8	aghion	aghion	NOUN
cblr-12479	280	9	and	and	CCONJ
cblr-12479	280	10	bolton	bolton	PROPN
cblr-12479	280	11	identify	identify	VERB
cblr-12479	280	12	as	as	ADP
cblr-12479	280	13	preferable	preferable	ADJ
cblr-12479	280	14	allocation	allocation	NOUN
cblr-12479	280	15	of	of	ADP
cblr-12479	280	16	control	control	NOUN
cblr-12479	280	17	,	,	PUNCT
cblr-12479	280	18	as	as	SCONJ
cblr-12479	280	19	the	the	DET
cblr-12479	280	20	success	success	NOUN
cblr-12479	280	21	of	of	ADP
cblr-12479	280	22	the	the	DET
cblr-12479	280	23	firm	firm	NOUN
cblr-12479	280	24	in	in	ADP
cblr-12479	280	25	the	the	DET
cblr-12479	280	26	initial	initial	ADJ
cblr-12479	280	27	stage	stage	NOUN
cblr-12479	280	28	mostly	mostly	ADV
cblr-12479	280	29	depends	depend	VERB
cblr-12479	280	30	on	on	ADP
cblr-12479	280	31	entrepreneurs	entrepreneur	NOUN
cblr-12479	280	32	’	'	PUNCT
cblr-12479	280	33	efforts	effort	NOUN
cblr-12479	280	34	.	.	PUNCT
cblr-12479	281	1	see	see	VERB
cblr-12479	281	2	aghion	aghion	NOUN
cblr-12479	281	3	&	&	CCONJ
cblr-12479	281	4	bolton	bolton	PROPN
cblr-12479	281	5	,	,	PUNCT
cblr-12479	281	6	supra	supra	PROPN
cblr-12479	281	7	note	note	NOUN
cblr-12479	281	8	39	39	NUM
cblr-12479	281	9	.	.	PUNCT
cblr-12479	282	1	91	91	NUM
cblr-12479	282	2	see	see	VERB
cblr-12479	282	3	generally	generally	ADV
cblr-12479	282	4	william	william	PROPN
cblr-12479	282	5	w.	w.	PROPN
cblr-12479	282	6	bratton	bratton	PROPN
cblr-12479	282	7	&	&	CCONJ
cblr-12479	282	8	michael	michael	PROPN
cblr-12479	282	9	l.	l.	PROPN
cblr-12479	282	10	wachter	wachter	PROPN
cblr-12479	282	11	,	,	PUNCT
cblr-12479	282	12	a	a	DET
cblr-12479	282	13	theory	theory	NOUN
cblr-12479	282	14	of	of	ADP
cblr-12479	282	15	preferred	preferred	ADJ
cblr-12479	282	16	stock	stock	NOUN
cblr-12479	282	17	,	,	PUNCT
cblr-12479	282	18	161	161	NUM
cblr-12479	282	19	univ	univ	ADJ
cblr-12479	282	20	.	.	PUNCT
cblr-12479	283	1	pa	pa	PROPN
cblr-12479	283	2	.	.	PROPN
cblr-12479	283	3	l.	l.	PROPN
cblr-12479	283	4	rev	rev	PROPN
cblr-12479	283	5	.	.	PROPN
cblr-12479	283	6	1815	1815	NUM
cblr-12479	283	7	(	(	PUNCT
cblr-12479	283	8	2013	2013	NUM
cblr-12479	283	9	)	)	PUNCT
cblr-12479	283	10	.	.	PUNCT
cblr-12479	284	1	see	see	VERB
cblr-12479	284	2	also	also	ADV
cblr-12479	284	3	infra	infra	VERB
cblr-12479	284	4	section	section	NOUN
cblr-12479	284	5	iv.b	iv.b	PROPN
cblr-12479	284	6	.	.	PROPN
cblr-12479	285	1	92	92	NUM
cblr-12479	285	2	bartlett	bartlett	NOUN
cblr-12479	285	3	,	,	PUNCT
cblr-12479	285	4	supra	supra	PROPN
cblr-12479	285	5	note	note	PROPN
cblr-12479	285	6	88	88	NUM
cblr-12479	285	7	,	,	PUNCT
cblr-12479	285	8	at	at	ADP
cblr-12479	285	9	45	45	NUM
cblr-12479	285	10	.	.	PUNCT
cblr-12479	286	1	no	no	INTJ
cblr-12479	286	2	.	.	NOUN
cblr-12479	287	1	2	2	NUM
cblr-12479	287	2	]	]	PUNCT
cblr-12479	287	3	the	the	DET
cblr-12479	287	4	law	law	NOUN
cblr-12479	287	5	of	of	ADP
cblr-12479	287	6	contingent	contingent	NOUN
cblr-12479	287	7	control	control	NOUN
cblr-12479	287	8	699	699	NUM
cblr-12479	287	9	vc	vc	NOUN
cblr-12479	287	10	financing	financing	NOUN
cblr-12479	287	11	agreements	agreement	NOUN
cblr-12479	287	12	seldom	seldom	ADV
cblr-12479	287	13	incorporate	incorporate	VERB
cblr-12479	287	14	all	all	DET
cblr-12479	287	15	these	these	DET
cblr-12479	287	16	alterations	alteration	NOUN
cblr-12479	287	17	to	to	ADP
cblr-12479	287	18	voting	voting	NOUN
cblr-12479	287	19	and	and	CCONJ
cblr-12479	287	20	board	board	NOUN
cblr-12479	287	21	representation	representation	NOUN
cblr-12479	287	22	rights.93	rights.93	NOUN
cblr-12479	287	23	still	still	ADV
cblr-12479	287	24	,	,	PUNCT
cblr-12479	287	25	the	the	DET
cblr-12479	287	26	extent	extent	NOUN
cblr-12479	287	27	to	to	PART
cblr-12479	287	28	which	which	PRON
cblr-12479	287	29	corporate	corporate	ADJ
cblr-12479	287	30	law	law	NOUN
cblr-12479	287	31	enables	enable	VERB
cblr-12479	287	32	founders	founder	NOUN
cblr-12479	287	33	and	and	CCONJ
cblr-12479	287	34	investors	investor	NOUN
cblr-12479	287	35	to	to	PART
cblr-12479	287	36	bargain	bargain	VERB
cblr-12479	287	37	over	over	ADP
cblr-12479	287	38	them	they	PRON
cblr-12479	287	39	determines	determine	VERB
cblr-12479	287	40	the	the	DET
cblr-12479	287	41	range	range	NOUN
cblr-12479	287	42	of	of	ADP
cblr-12479	287	43	efficient	efficient	ADJ
cblr-12479	287	44	contracting	contracting	NOUN
cblr-12479	287	45	and	and	CCONJ
cblr-12479	287	46	,	,	PUNCT
cblr-12479	287	47	therefore	therefore	ADV
cblr-12479	287	48	,	,	PUNCT
cblr-12479	287	49	the	the	DET
cblr-12479	287	50	range	range	NOUN
cblr-12479	287	51	of	of	ADP
cblr-12479	287	52	firms	firm	NOUN
cblr-12479	287	53	that	that	PRON
cblr-12479	287	54	can	can	AUX
cblr-12479	287	55	be	be	AUX
cblr-12479	287	56	financed	finance	VERB
cblr-12479	287	57	through	through	ADP
cblr-12479	287	58	vc	vc	PROPN
cblr-12479	287	59	.	.	PUNCT
cblr-12479	288	1	surprisingly	surprisingly	ADV
cblr-12479	288	2	,	,	PUNCT
cblr-12479	288	3	there	there	PRON
cblr-12479	288	4	are	be	VERB
cblr-12479	288	5	more	more	ADJ
cblr-12479	288	6	restrictions	restriction	NOUN
cblr-12479	288	7	than	than	SCONJ
cblr-12479	288	8	one	one	PRON
cblr-12479	288	9	would	would	AUX
cblr-12479	288	10	expect	expect	VERB
cblr-12479	288	11	in	in	ADP
cblr-12479	288	12	an	an	DET
cblr-12479	288	13	increasingly	increasingly	ADV
cblr-12479	288	14	globalized	globalize	VERB
cblr-12479	288	15	vc	vc	NOUN
cblr-12479	288	16	market	market	NOUN
cblr-12479	288	17	.	.	PUNCT
cblr-12479	289	1	many	many	ADJ
cblr-12479	289	2	jurisdictions	jurisdiction	NOUN
cblr-12479	289	3	only	only	ADV
cblr-12479	289	4	allow	allow	VERB
cblr-12479	289	5	temporary	temporary	ADJ
cblr-12479	289	6	restrictions	restriction	NOUN
cblr-12479	289	7	on	on	ADP
cblr-12479	289	8	voting	voting	NOUN
cblr-12479	289	9	rights	right	NOUN
cblr-12479	289	10	or	or	CCONJ
cblr-12479	289	11	require	require	VERB
cblr-12479	289	12	shares	share	NOUN
cblr-12479	289	13	with	with	ADP
cblr-12479	289	14	such	such	ADJ
cblr-12479	289	15	restrictions	restriction	NOUN
cblr-12479	289	16	to	to	PART
cblr-12479	289	17	have	have	AUX
cblr-12479	289	18	enhanced	enhance	VERB
cblr-12479	289	19	cash	cash	NOUN
cblr-12479	289	20	flow	flow	NOUN
cblr-12479	289	21	rights.94	rights.94	NOUN
cblr-12479	289	22	in	in	ADP
cblr-12479	289	23	these	these	DET
cblr-12479	289	24	legal	legal	ADJ
cblr-12479	289	25	environments	environment	NOUN
cblr-12479	289	26	,	,	PUNCT
cblr-12479	289	27	participants	participant	NOUN
cblr-12479	289	28	may	may	AUX
cblr-12479	289	29	seek	seek	VERB
cblr-12479	289	30	to	to	PART
cblr-12479	289	31	restrict	restrict	VERB
cblr-12479	289	32	common	common	ADJ
cblr-12479	289	33	stock	stock	NOUN
cblr-12479	289	34	’s	’s	PART
cblr-12479	289	35	voting	voting	NOUN
cblr-12479	289	36	power	power	NOUN
cblr-12479	289	37	by	by	ADP
cblr-12479	289	38	authorizing	authorize	VERB
cblr-12479	289	39	the	the	DET
cblr-12479	289	40	board	board	NOUN
cblr-12479	289	41	to	to	PART
cblr-12479	289	42	issue	issue	VERB
cblr-12479	289	43	shares	share	NOUN
cblr-12479	289	44	and	and	CCONJ
cblr-12479	289	45	nominate	nominate	VERB
cblr-12479	289	46	new	new	ADJ
cblr-12479	289	47	board	board	NOUN
cblr-12479	289	48	members	member	NOUN
cblr-12479	289	49	,	,	PUNCT
cblr-12479	289	50	as	as	SCONJ
cblr-12479	289	51	outlined	outline	VERB
cblr-12479	289	52	above	above	ADV
cblr-12479	289	53	.	.	PUNCT
cblr-12479	290	1	however	however	ADV
cblr-12479	290	2	,	,	PUNCT
cblr-12479	290	3	this	this	DET
cblr-12479	290	4	alternative	alternative	NOUN
cblr-12479	290	5	is	be	AUX
cblr-12479	290	6	challenging	challenge	VERB
cblr-12479	290	7	because	because	SCONJ
cblr-12479	290	8	boards	board	NOUN
cblr-12479	290	9	’	’	PART
cblr-12479	290	10	powers	power	NOUN
cblr-12479	290	11	are	be	AUX
cblr-12479	290	12	generally	generally	ADV
cblr-12479	290	13	limited	limit	VERB
cblr-12479	290	14	to	to	ADP
cblr-12479	290	15	issuing	issue	VERB
cblr-12479	290	16	pre	pre	ADJ
cblr-12479	290	17	-	-	ADJ
cblr-12479	290	18	authorized	authorized	ADJ
cblr-12479	290	19	shares	share	NOUN
cblr-12479	290	20	,	,	PUNCT
cblr-12479	290	21	with	with	ADP
cblr-12479	290	22	defined	define	VERB
cblr-12479	290	23	rights	right	NOUN
cblr-12479	290	24	,	,	PUNCT
cblr-12479	290	25	for	for	ADP
cblr-12479	290	26	a	a	DET
cblr-12479	290	27	limited	limited	ADJ
cblr-12479	290	28	time	time	NOUN
cblr-12479	290	29	that	that	PRON
cblr-12479	290	30	is	be	AUX
cblr-12479	290	31	often	often	ADV
cblr-12479	290	32	inferior	inferior	ADJ
cblr-12479	290	33	to	to	ADP
cblr-12479	290	34	the	the	DET
cblr-12479	290	35	ten	ten	NUM
cblr-12479	290	36	-	-	PUNCT
cblr-12479	290	37	year	year	NOUN
cblr-12479	290	38	life	life	NOUN
cblr-12479	290	39	of	of	ADP
cblr-12479	290	40	a	a	DET
cblr-12479	290	41	vc	vc	PROPN
cblr-12479	290	42	fund	fund	NOUN
cblr-12479	290	43	(	(	PUNCT
cblr-12479	290	44	e.g.	e.g.	ADV
cblr-12479	290	45	,	,	PUNCT
cblr-12479	290	46	in	in	ADP
cblr-12479	290	47	switzerland	switzerland	PROPN
cblr-12479	290	48	,	,	PUNCT
cblr-12479	290	49	the	the	DET
cblr-12479	290	50	period	period	NOUN
cblr-12479	290	51	is	be	AUX
cblr-12479	290	52	two	two	NUM
cblr-12479	290	53	years	year	NOUN
cblr-12479	290	54	;	;	PUNCT
cblr-12479	290	55	in	in	ADP
cblr-12479	290	56	the	the	DET
cblr-12479	290	57	netherlands	netherlands	PROPN
cblr-12479	290	58	,	,	PUNCT
cblr-12479	290	59	five).95	five).95	PROPN
cblr-12479	290	60	moreover	moreover	ADV
cblr-12479	290	61	,	,	PUNCT
cblr-12479	290	62	such	such	ADJ
cblr-12479	290	63	extensions	extension	NOUN
cblr-12479	290	64	or	or	CCONJ
cblr-12479	290	65	expansions	expansion	NOUN
cblr-12479	290	66	of	of	ADP
cblr-12479	290	67	boards	board	NOUN
cblr-12479	290	68	’	'	PUNCT
cblr-12479	290	69	rights	right	NOUN
cblr-12479	290	70	must	must	AUX
cblr-12479	290	71	be	be	AUX
cblr-12479	290	72	introduced	introduce	VERB
cblr-12479	290	73	through	through	ADP
cblr-12479	290	74	constitutive	constitutive	ADJ
cblr-12479	290	75	documents	document	NOUN
cblr-12479	290	76	’	’	PART
cblr-12479	290	77	amendments	amendment	NOUN
cblr-12479	290	78	that	that	PRON
cblr-12479	290	79	generally	generally	ADV
cblr-12479	290	80	require	require	VERB
cblr-12479	290	81	approval	approval	NOUN
cblr-12479	290	82	by	by	ADP
cblr-12479	290	83	all	all	DET
cblr-12479	290	84	classes	class	NOUN
cblr-12479	290	85	of	of	ADP
cblr-12479	290	86	shares,96	shares,96	NOUN
cblr-12479	290	87	defeating	defeat	VERB
cblr-12479	290	88	the	the	DET
cblr-12479	290	89	goal	goal	NOUN
cblr-12479	290	90	of	of	ADP
cblr-12479	290	91	constraining	constrain	VERB
cblr-12479	290	92	common	common	ADJ
cblr-12479	290	93	stock	stock	NOUN
cblr-12479	290	94	’s	’s	PART
cblr-12479	290	95	control	control	NOUN
cblr-12479	290	96	rights	right	NOUN
cblr-12479	290	97	.	.	PUNCT
cblr-12479	291	1	empowering	empower	VERB
cblr-12479	291	2	the	the	DET
cblr-12479	291	3	board	board	NOUN
cblr-12479	291	4	to	to	PART
cblr-12479	291	5	nominate	nominate	VERB
cblr-12479	291	6	board	board	NOUN
cblr-12479	291	7	members	member	NOUN
cblr-12479	291	8	,	,	PUNCT
cblr-12479	291	9	on	on	ADP
cblr-12479	291	10	the	the	DET
cblr-12479	291	11	other	other	ADJ
cblr-12479	291	12	hand	hand	NOUN
cblr-12479	291	13	,	,	PUNCT
cblr-12479	291	14	is	be	AUX
cblr-12479	291	15	less	less	ADV
cblr-12479	291	16	problematic	problematic	ADJ
cblr-12479	291	17	;	;	PUNCT
cblr-12479	291	18	but	but	CCONJ
cblr-12479	291	19	parties	party	NOUN
cblr-12479	291	20	must	must	AUX
cblr-12479	291	21	carefully	carefully	ADV
cblr-12479	291	22	determine	determine	VERB
cblr-12479	291	23	whether	whether	SCONJ
cblr-12479	291	24	the	the	DET
cblr-12479	291	25	law	law	NOUN
cblr-12479	291	26	requires	require	VERB
cblr-12479	291	27	explicit	explicit	ADJ
cblr-12479	291	28	authorization	authorization	NOUN
cblr-12479	291	29	in	in	ADP
cblr-12479	291	30	the	the	DET
cblr-12479	291	31	articles	article	NOUN
cblr-12479	291	32	of	of	ADP
cblr-12479	291	33	incorporation	incorporation	NOUN
cblr-12479	291	34	or	or	CCONJ
cblr-12479	291	35	the	the	DET
cblr-12479	291	36	charter	charter	NOUN
cblr-12479	291	37	,	,	PUNCT
cblr-12479	291	38	and	and	CCONJ
cblr-12479	291	39	what	what	PRON
cblr-12479	291	40	specific	specific	ADJ
cblr-12479	291	41	requirements	requirement	NOUN
cblr-12479	291	42	must	must	AUX
cblr-12479	291	43	be	be	AUX
cblr-12479	291	44	fulfilled	fulfil	VERB
cblr-12479	291	45	,	,	PUNCT
cblr-12479	291	46	which	which	PRON
cblr-12479	291	47	also	also	ADV
cblr-12479	291	48	varies	vary	VERB
cblr-12479	291	49	across	across	ADP
cblr-12479	291	50	jurisdictions.97	jurisdictions.97	NOUN
cblr-12479	291	51	all	all	ADV
cblr-12479	291	52	in	in	ADP
cblr-12479	291	53	all	all	PRON
cblr-12479	291	54	,	,	PUNCT
cblr-12479	291	55	vcs	vcs	NOUN
cblr-12479	291	56	’	'	PUNCT
cblr-12479	291	57	ability	ability	NOUN
cblr-12479	291	58	to	to	PART
cblr-12479	291	59	bargain	bargain	VERB
cblr-12479	291	60	over	over	ADP
cblr-12479	291	61	restrictions	restriction	NOUN
cblr-12479	291	62	to	to	ADP
cblr-12479	291	63	common	common	ADJ
cblr-12479	291	64	rights	right	NOUN
cblr-12479	291	65	in	in	ADP
cblr-12479	291	66	startups	startup	NOUN
cblr-12479	291	67	of	of	ADP
cblr-12479	291	68	their	their	PRON
cblr-12479	291	69	portfolio	portfolio	NOUN
cblr-12479	291	70	93	93	NUM
cblr-12479	291	71	in	in	ADP
cblr-12479	291	72	fact	fact	NOUN
cblr-12479	291	73	,	,	PUNCT
cblr-12479	291	74	as	as	SCONJ
cblr-12479	291	75	outlined	outline	VERB
cblr-12479	291	76	above	above	ADV
cblr-12479	291	77	,	,	PUNCT
cblr-12479	291	78	patterns	pattern	NOUN
cblr-12479	291	79	differ	differ	VERB
cblr-12479	291	80	across	across	ADP
cblr-12479	291	81	countries	country	NOUN
cblr-12479	291	82	and	and	CCONJ
cblr-12479	291	83	various	various	ADJ
cblr-12479	291	84	combinations	combination	NOUN
cblr-12479	291	85	of	of	ADP
cblr-12479	291	86	securities	security	NOUN
cblr-12479	291	87	constitute	constitute	VERB
cblr-12479	291	88	the	the	DET
cblr-12479	291	89	final	final	ADJ
cblr-12479	291	90	agreement	agreement	NOUN
cblr-12479	291	91	resulting	result	VERB
cblr-12479	291	92	from	from	ADP
cblr-12479	291	93	multiple	multiple	ADJ
cblr-12479	291	94	bargains	bargain	NOUN
cblr-12479	291	95	.	.	PUNCT
cblr-12479	292	1	kaplan	kaplan	PROPN
cblr-12479	292	2	et	et	PROPN
cblr-12479	292	3	al	al	PROPN
cblr-12479	292	4	.	.	PROPN
cblr-12479	292	5	,	,	PUNCT
cblr-12479	292	6	supra	supra	PROPN
cblr-12479	292	7	note	note	PROPN
cblr-12479	292	8	25	25	NUM
cblr-12479	292	9	.	.	PUNCT
cblr-12479	292	10	94	94	NUM
cblr-12479	292	11	see	see	VERB
cblr-12479	292	12	supra	supra	PROPN
cblr-12479	292	13	section	section	PROPN
cblr-12479	292	14	iii.a	iii.a	PROPN
cblr-12479	292	15	.	.	PUNCT
cblr-12479	293	1	95	95	NUM
cblr-12479	293	2	see	see	VERB
cblr-12479	293	3	obligationenrecht	obligationenrecht	NOUN
cblr-12479	293	4	[	[	X
cblr-12479	293	5	or	or	CCONJ
cblr-12479	293	6	]	]	PUNCT
cblr-12479	293	7	,	,	PUNCT
cblr-12479	293	8	code	code	PROPN
cblr-12479	293	9	des	des	X
cblr-12479	293	10	obligations	obligation	NOUN
cblr-12479	293	11	[	[	X
cblr-12479	293	12	co	co	NOUN
cblr-12479	293	13	]	]	X
cblr-12479	293	14	,	,	PUNCT
cblr-12479	293	15	codice	codice	PROPN
cblr-12479	293	16	delle	delle	PROPN
cblr-12479	293	17	obbligazioni	obbligazioni	PROPN
cblr-12479	294	1	[	[	X
cblr-12479	294	2	co	co	NOUN
cblr-12479	294	3	]	]	X
cblr-12479	294	4	,	,	PUNCT
cblr-12479	294	5	(	(	PUNCT
cblr-12479	294	6	code	code	NOUN
cblr-12479	294	7	of	of	ADP
cblr-12479	294	8	obligations	obligation	NOUN
cblr-12479	294	9	)	)	PUNCT
cblr-12479	294	10	mar	mar	PROPN
cblr-12479	294	11	.	.	PROPN
cblr-12479	294	12	30	30	NUM
cblr-12479	294	13	,	,	PUNCT
cblr-12479	294	14	1911	1911	NUM
cblr-12479	294	15	,	,	PUNCT
cblr-12479	294	16	sr	sr	PROPN
cblr-12479	294	17	220	220	NUM
cblr-12479	294	18	,	,	PUNCT
cblr-12479	294	19	rs	rs	NOUN
cblr-12479	294	20	220	220	NUM
cblr-12479	294	21	,	,	PUNCT
cblr-12479	294	22	art	art	NOUN
cblr-12479	294	23	.	.	PUNCT
cblr-12479	295	1	651	651	NUM
cblr-12479	295	2	,	,	PUNCT
cblr-12479	295	3	654	654	NUM
cblr-12479	295	4	(	(	PUNCT
cblr-12479	295	5	switz	switz	PROPN
cblr-12479	295	6	.	.	PUNCT
cblr-12479	295	7	)	)	PUNCT
cblr-12479	295	8	;	;	PUNCT
cblr-12479	295	9	artikel	artikel	PROPN
cblr-12479	295	10	2:96	2:96	NUM
cblr-12479	295	11	para	para	PROPN
cblr-12479	295	12	.	.	PUNCT
cblr-12479	296	1	1	1	NUM
cblr-12479	296	2	bw	bw	NOUN
cblr-12479	296	3	.	.	PUNCT
cblr-12479	296	4	(	(	PUNCT
cblr-12479	296	5	neth	neth	PROPN
cblr-12479	296	6	.	.	PUNCT
cblr-12479	296	7	)	)	PUNCT
cblr-12479	296	8	.	.	PUNCT
cblr-12479	297	1	96	96	NUM
cblr-12479	297	2	see	see	VERB
cblr-12479	297	3	kraakman	kraakman	PROPN
cblr-12479	297	4	et	et	PROPN
cblr-12479	297	5	al	al	PROPN
cblr-12479	297	6	.	.	PROPN
cblr-12479	297	7	,	,	PUNCT
cblr-12479	297	8	supra	supra	PROPN
cblr-12479	297	9	note	note	PROPN
cblr-12479	297	10	68	68	NUM
cblr-12479	297	11	,	,	PUNCT
cblr-12479	297	12	at	at	ADP
cblr-12479	297	13	174–79	174–79	NUM
cblr-12479	297	14	.	.	PUNCT
cblr-12479	298	1	97	97	NUM
cblr-12479	299	1	i	i	PRON
cblr-12479	299	2	d.	d.	PROPN
cblr-12479	299	3	at	at	ADP
cblr-12479	299	4	53–55	53–55	NUM
cblr-12479	299	5	.	.	PUNCT
cblr-12479	300	1	700	700	NUM
cblr-12479	300	2	columbia	columbia	PROPN
cblr-12479	300	3	business	business	NOUN
cblr-12479	300	4	law	law	NOUN
cblr-12479	300	5	review	review	NOUN
cblr-12479	300	6	[	[	X
cblr-12479	300	7	vol	vol	NOUN
cblr-12479	300	8	.	.	PUNCT
cblr-12479	300	9	2023	2023	NUM
cblr-12479	300	10	vary	vary	VERB
cblr-12479	300	11	across	across	ADP
cblr-12479	300	12	jurisdictions	jurisdiction	NOUN
cblr-12479	300	13	,	,	PUNCT
cblr-12479	300	14	with	with	ADP
cblr-12479	300	15	relevant	relevant	ADJ
cblr-12479	300	16	and	and	CCONJ
cblr-12479	300	17	infrequently	infrequently	ADV
cblr-12479	300	18	discussed	discuss	VERB
cblr-12479	300	19	limitations	limitation	NOUN
cblr-12479	300	20	(	(	PUNCT
cblr-12479	300	21	e.g.	e.g.	ADV
cblr-12479	300	22	,	,	PUNCT
cblr-12479	300	23	to	to	PART
cblr-12479	300	24	empower	empower	VERB
cblr-12479	300	25	the	the	DET
cblr-12479	300	26	board	board	NOUN
cblr-12479	300	27	)	)	PUNCT
cblr-12479	300	28	significantly	significantly	ADV
cblr-12479	300	29	reducing	reduce	VERB
cblr-12479	300	30	the	the	DET
cblr-12479	300	31	range	range	NOUN
cblr-12479	300	32	of	of	ADP
cblr-12479	300	33	efficient	efficient	ADJ
cblr-12479	300	34	contracting	contracting	NOUN
cblr-12479	300	35	or	or	CCONJ
cblr-12479	300	36	increasing	increase	VERB
cblr-12479	300	37	the	the	DET
cblr-12479	300	38	costs	cost	NOUN
cblr-12479	300	39	of	of	ADP
cblr-12479	300	40	bargaining	bargaining	NOUN
cblr-12479	300	41	.	.	PUNCT
cblr-12479	301	1	bargains	bargain	NOUN
cblr-12479	301	2	over	over	ADP
cblr-12479	301	3	enhanced	enhance	VERB
cblr-12479	301	4	cps	cps	PROPN
cblr-12479	301	5	’	'	PUNCT
cblr-12479	301	6	voting	voting	NOUN
cblr-12479	301	7	rights	right	NOUN
cblr-12479	301	8	could	could	AUX
cblr-12479	301	9	compensate	compensate	VERB
cblr-12479	301	10	for	for	ADP
cblr-12479	301	11	such	such	ADJ
cblr-12479	301	12	difficulties	difficulty	NOUN
cblr-12479	301	13	,	,	PUNCT
cblr-12479	301	14	although	although	SCONJ
cblr-12479	301	15	certain	certain	ADJ
cblr-12479	301	16	limits	limit	NOUN
cblr-12479	301	17	must	must	AUX
cblr-12479	301	18	also	also	ADV
cblr-12479	301	19	be	be	AUX
cblr-12479	301	20	accounted	account	VERB
cblr-12479	301	21	for	for	ADP
cblr-12479	301	22	.	.	PUNCT
cblr-12479	302	1	multiple	multiple	ADJ
cblr-12479	302	2	voting	voting	NOUN
cblr-12479	302	3	is	be	AUX
cblr-12479	302	4	generally	generally	ADV
cblr-12479	302	5	restricted	restrict	VERB
cblr-12479	302	6	to	to	ADP
cblr-12479	302	7	two	two	NUM
cblr-12479	302	8	votes	vote	NOUN
cblr-12479	302	9	per	per	ADP
cblr-12479	302	10	preferred	preferred	ADJ
cblr-12479	302	11	share	share	NOUN
cblr-12479	302	12	and	and	CCONJ
cblr-12479	302	13	,	,	PUNCT
cblr-12479	302	14	in	in	ADP
cblr-12479	302	15	many	many	ADJ
cblr-12479	302	16	cases	case	NOUN
cblr-12479	302	17	,	,	PUNCT
cblr-12479	302	18	forbidden	forbid	VERB
cblr-12479	302	19	for	for	ADP
cblr-12479	302	20	shares	share	NOUN
cblr-12479	302	21	with	with	ADP
cblr-12479	302	22	enhanced	enhanced	ADJ
cblr-12479	302	23	cash	cash	NOUN
cblr-12479	302	24	flow	flow	NOUN
cblr-12479	302	25	rights.98	rights.98	VERB
cblr-12479	302	26	a	a	DET
cblr-12479	302	27	sensible	sensible	ADJ
cblr-12479	302	28	strategy	strategy	NOUN
cblr-12479	302	29	to	to	PART
cblr-12479	302	30	circumvent	circumvent	VERB
cblr-12479	302	31	the	the	DET
cblr-12479	302	32	first	first	ADJ
cblr-12479	302	33	kind	kind	NOUN
cblr-12479	302	34	of	of	ADP
cblr-12479	302	35	restrictions	restriction	NOUN
cblr-12479	302	36	could	could	AUX
cblr-12479	302	37	be	be	AUX
cblr-12479	302	38	to	to	PART
cblr-12479	302	39	issue	issue	VERB
cblr-12479	302	40	shares	share	NOUN
cblr-12479	302	41	that	that	PRON
cblr-12479	302	42	vote	vote	NOUN
cblr-12479	302	43	on	on	ADP
cblr-12479	302	44	an	an	DET
cblr-12479	302	45	“	"	PUNCT
cblr-12479	302	46	as	as	SCONJ
cblr-12479	302	47	if	if	SCONJ
cblr-12479	302	48	converted	convert	VERB
cblr-12479	302	49	”	"	PUNCT
cblr-12479	302	50	basis	basis	NOUN
cblr-12479	302	51	.	.	PUNCT
cblr-12479	303	1	yet	yet	ADV
cblr-12479	303	2	,	,	PUNCT
cblr-12479	303	3	such	such	DET
cblr-12479	303	4	a	a	DET
cblr-12479	303	5	strategy	strategy	NOUN
cblr-12479	303	6	might	might	AUX
cblr-12479	303	7	prove	prove	VERB
cblr-12479	303	8	difficult	difficult	ADJ
cblr-12479	303	9	to	to	PART
cblr-12479	303	10	implement	implement	VERB
cblr-12479	303	11	through	through	ADP
cblr-12479	303	12	security	security	NOUN
cblr-12479	303	13	design	design	NOUN
cblr-12479	303	14	in	in	ADP
cblr-12479	303	15	certain	certain	ADJ
cblr-12479	303	16	jurisdictions	jurisdiction	NOUN
cblr-12479	303	17	because	because	SCONJ
cblr-12479	303	18	it	it	PRON
cblr-12479	303	19	relies	rely	VERB
cblr-12479	303	20	on	on	ADP
cblr-12479	303	21	the	the	DET
cblr-12479	303	22	possibility	possibility	NOUN
cblr-12479	303	23	to	to	PART
cblr-12479	303	24	create	create	VERB
cblr-12479	303	25	a	a	DET
cblr-12479	303	26	right	right	NOUN
cblr-12479	303	27	to	to	ADP
cblr-12479	303	28	automatic	automatic	ADJ
cblr-12479	303	29	conversion	conversion	NOUN
cblr-12479	303	30	from	from	ADP
cblr-12479	303	31	cps	cp	NOUN
cblr-12479	303	32	into	into	ADP
cblr-12479	303	33	common	common	ADJ
cblr-12479	303	34	shares	share	NOUN
cblr-12479	303	35	,	,	PUNCT
cblr-12479	303	36	which	which	PRON
cblr-12479	303	37	may	may	AUX
cblr-12479	303	38	not	not	PART
cblr-12479	303	39	be	be	AUX
cblr-12479	303	40	at	at	ADV
cblr-12479	303	41	all	all	ADV
cblr-12479	303	42	possible	possible	ADJ
cblr-12479	303	43	,	,	PUNCT
cblr-12479	303	44	as	as	SCONJ
cblr-12479	303	45	detailed	detailed	ADJ
cblr-12479	303	46	in	in	ADP
cblr-12479	303	47	section	section	NOUN
cblr-12479	303	48	iv.b	iv.b	VERB
cblr-12479	303	49	below	below	ADV
cblr-12479	303	50	.	.	PUNCT
cblr-12479	304	1	2	2	X
cblr-12479	304	2	.	.	X
cblr-12479	304	3	class	class	NOUN
cblr-12479	304	4	-	-	PUNCT
cblr-12479	304	5	based	base	VERB
cblr-12479	304	6	board	board	NOUN
cblr-12479	304	7	representation	representation	NOUN
cblr-12479	304	8	an	an	DET
cblr-12479	304	9	alternative	alternative	ADJ
cblr-12479	304	10	tactic	tactic	NOUN
cblr-12479	304	11	to	to	PART
cblr-12479	304	12	enhance	enhance	VERB
cblr-12479	304	13	cps	cps	PROPN
cblr-12479	304	14	’	'	PUNCT
cblr-12479	304	15	control	control	NOUN
cblr-12479	304	16	rights	right	NOUN
cblr-12479	304	17	is	be	AUX
cblr-12479	304	18	to	to	PART
cblr-12479	304	19	allow	allow	VERB
cblr-12479	304	20	different	different	ADJ
cblr-12479	304	21	classes	class	NOUN
cblr-12479	304	22	of	of	ADP
cblr-12479	304	23	shares	share	NOUN
cblr-12479	304	24	to	to	PART
cblr-12479	304	25	elect	elect	VERB
cblr-12479	304	26	different	different	ADJ
cblr-12479	304	27	members	member	NOUN
cblr-12479	304	28	of	of	ADP
cblr-12479	304	29	the	the	DET
cblr-12479	304	30	board	board	NOUN
cblr-12479	304	31	—	—	PUNCT
cblr-12479	304	32	so	so	ADV
cblr-12479	304	33	-	-	PUNCT
cblr-12479	304	34	called	call	VERB
cblr-12479	304	35	,	,	PUNCT
cblr-12479	304	36	constituency	constituency	NOUN
cblr-12479	304	37	directors	director	NOUN
cblr-12479	304	38	.	.	PUNCT
cblr-12479	305	1	a	a	DET
cblr-12479	305	2	common	common	ADJ
cblr-12479	305	3	structure	structure	NOUN
cblr-12479	305	4	is	be	AUX
cblr-12479	305	5	to	to	PART
cblr-12479	305	6	have	have	VERB
cblr-12479	305	7	some	some	DET
cblr-12479	305	8	members	member	NOUN
cblr-12479	305	9	of	of	ADP
cblr-12479	305	10	the	the	DET
cblr-12479	305	11	board	board	NOUN
cblr-12479	305	12	elected	elect	VERB
cblr-12479	305	13	by	by	ADP
cblr-12479	305	14	cps	cps	PROPN
cblr-12479	305	15	(	(	PUNCT
cblr-12479	305	16	i.e.	i.e.	X
cblr-12479	305	17	,	,	PUNCT
cblr-12479	305	18	investors	investor	NOUN
cblr-12479	305	19	)	)	PUNCT
cblr-12479	305	20	,	,	PUNCT
cblr-12479	305	21	others	other	NOUN
cblr-12479	305	22	by	by	ADP
cblr-12479	305	23	non	non	ADJ
cblr-12479	305	24	-	-	ADJ
cblr-12479	305	25	preferential	preferential	ADJ
cblr-12479	305	26	shareholders	shareholder	NOUN
cblr-12479	305	27	(	(	PUNCT
cblr-12479	305	28	i.e.	i.e.	X
cblr-12479	305	29	,	,	PUNCT
cblr-12479	305	30	founders	founder	NOUN
cblr-12479	305	31	)	)	PUNCT
cblr-12479	305	32	and	and	CCONJ
cblr-12479	305	33	,	,	PUNCT
cblr-12479	305	34	lastly	lastly	ADV
cblr-12479	305	35	,	,	PUNCT
cblr-12479	305	36	“	"	PUNCT
cblr-12479	305	37	independent	independent	ADJ
cblr-12479	305	38	”	"	PUNCT
cblr-12479	305	39	directors	director	NOUN
cblr-12479	305	40	,	,	PUNCT
cblr-12479	305	41	elected	elect	VERB
cblr-12479	305	42	by	by	ADP
cblr-12479	305	43	both	both	DET
cblr-12479	305	44	classes	class	NOUN
cblr-12479	305	45	of	of	ADP
cblr-12479	305	46	shares.99	shares.99	NOUN
cblr-12479	305	47	this	this	DET
cblr-12479	305	48	composition	composition	NOUN
cblr-12479	305	49	is	be	AUX
cblr-12479	305	50	aimed	aim	VERB
cblr-12479	305	51	at	at	ADP
cblr-12479	305	52	ensuring	ensure	VERB
cblr-12479	305	53	that	that	SCONJ
cblr-12479	305	54	vcs	vcs	PROPN
cblr-12479	305	55	,	,	PUNCT
cblr-12479	305	56	albeit	albeit	SCONJ
cblr-12479	305	57	minority	minority	NOUN
cblr-12479	305	58	shareholders	shareholder	NOUN
cblr-12479	305	59	,	,	PUNCT
cblr-12479	305	60	participate	participate	VERB
cblr-12479	305	61	in	in	ADP
cblr-12479	305	62	the	the	DET
cblr-12479	305	63	98	98	NUM
cblr-12479	305	64	see	see	NOUN
cblr-12479	305	65	supra	supra	PROPN
cblr-12479	305	66	section	section	PROPN
cblr-12479	305	67	iii.a	iii.a	PROPN
cblr-12479	305	68	.	.	PROPN
cblr-12479	306	1	99	99	NUM
cblr-12479	306	2	see	see	VERB
cblr-12479	306	3	brian	brian	PROPN
cblr-12479	306	4	broughman	broughman	PROPN
cblr-12479	306	5	,	,	PUNCT
cblr-12479	306	6	independent	independent	ADJ
cblr-12479	306	7	directors	director	NOUN
cblr-12479	306	8	and	and	CCONJ
cblr-12479	306	9	shared	share	VERB
cblr-12479	306	10	board	board	NOUN
cblr-12479	306	11	control	control	NOUN
cblr-12479	306	12	in	in	ADP
cblr-12479	306	13	venture	venture	NOUN
cblr-12479	306	14	finance	finance	NOUN
cblr-12479	306	15	,	,	PUNCT
cblr-12479	306	16	9	9	NUM
cblr-12479	306	17	rev	rev	X
cblr-12479	306	18	.	.	PROPN
cblr-12479	306	19	l.	l.	PROPN
cblr-12479	306	20	&	&	CCONJ
cblr-12479	306	21	econ	econ	PROPN
cblr-12479	306	22	.	.	PUNCT
cblr-12479	307	1	41	41	NUM
cblr-12479	307	2	(	(	PUNCT
cblr-12479	307	3	2013	2013	NUM
cblr-12479	307	4	)	)	PUNCT
cblr-12479	307	5	(	(	PUNCT
cblr-12479	307	6	showing	show	VERB
cblr-12479	307	7	that	that	SCONJ
cblr-12479	307	8	independent	independent	ADJ
cblr-12479	307	9	directors	director	NOUN
cblr-12479	307	10	act	act	VERB
cblr-12479	307	11	as	as	ADP
cblr-12479	307	12	a	a	DET
cblr-12479	307	13	tiebreaker	tiebreaker	NOUN
cblr-12479	307	14	,	,	PUNCT
cblr-12479	307	15	contributing	contribute	VERB
cblr-12479	307	16	to	to	PART
cblr-12479	307	17	reduce	reduce	VERB
cblr-12479	307	18	holdup	holdup	NOUN
cblr-12479	307	19	problems	problem	NOUN
cblr-12479	307	20	by	by	ADP
cblr-12479	307	21	“	"	PUNCT
cblr-12479	307	22	moderating	moderate	VERB
cblr-12479	307	23	each	each	DET
cblr-12479	307	24	party	party	NOUN
cblr-12479	307	25	’s	’s	PART
cblr-12479	307	26	ex	ex	X
cblr-12479	307	27	post	post	NOUN
cblr-12479	307	28	threat	threat	NOUN
cblr-12479	307	29	position	position	NOUN
cblr-12479	307	30	,	,	PUNCT
cblr-12479	307	31	potentially	potentially	ADV
cblr-12479	307	32	expanding	expand	VERB
cblr-12479	307	33	the	the	DET
cblr-12479	307	34	range	range	NOUN
cblr-12479	307	35	of	of	ADP
cblr-12479	307	36	firms	firm	NOUN
cblr-12479	307	37	which	which	PRON
cblr-12479	307	38	receive	receive	VERB
cblr-12479	307	39	external	external	ADJ
cblr-12479	307	40	financing	financing	NOUN
cblr-12479	307	41	”	"	PUNCT
cblr-12479	307	42	)	)	PUNCT
cblr-12479	307	43	;	;	PUNCT
cblr-12479	307	44	brian	brian	PROPN
cblr-12479	307	45	broughman	broughman	PROPN
cblr-12479	307	46	,	,	PUNCT
cblr-12479	307	47	the	the	DET
cblr-12479	307	48	role	role	NOUN
cblr-12479	307	49	of	of	ADP
cblr-12479	307	50	independent	independent	ADJ
cblr-12479	307	51	directors	director	NOUN
cblr-12479	307	52	in	in	ADP
cblr-12479	307	53	startup	startup	NOUN
cblr-12479	307	54	firms	firm	NOUN
cblr-12479	307	55	,	,	PUNCT
cblr-12479	307	56	2010	2010	NUM
cblr-12479	307	57	utah	utah	PROPN
cblr-12479	307	58	l.	l.	PROPN
cblr-12479	307	59	rev	rev	PROPN
cblr-12479	307	60	.	.	PROPN
cblr-12479	307	61	461	461	NUM
cblr-12479	307	62	(	(	PUNCT
cblr-12479	307	63	arguing	argue	VERB
cblr-12479	307	64	that	that	SCONJ
cblr-12479	307	65	“	"	PUNCT
cblr-12479	307	66	heightened	heighten	VERB
cblr-12479	307	67	fiduciary	fiduciary	ADJ
cblr-12479	307	68	protections	protection	NOUN
cblr-12479	307	69	”	"	PUNCT
cblr-12479	307	70	could	could	AUX
cblr-12479	307	71	undermine	undermine	VERB
cblr-12479	307	72	independent	independent	ADJ
cblr-12479	307	73	directors	director	NOUN
cblr-12479	307	74	’	'	PUNCT
cblr-12479	307	75	ability	ability	NOUN
cblr-12479	307	76	to	to	PART
cblr-12479	307	77	mediate	mediate	VERB
cblr-12479	307	78	and	and	CCONJ
cblr-12479	307	79	exercise	exercise	VERB
cblr-12479	307	80	their	their	PRON
cblr-12479	307	81	tiebreaking	tiebreake	VERB
cblr-12479	307	82	role	role	NOUN
cblr-12479	307	83	)	)	PUNCT
cblr-12479	307	84	.	.	PUNCT
cblr-12479	308	1	no	no	INTJ
cblr-12479	308	2	.	.	NOUN
cblr-12479	309	1	2	2	NUM
cblr-12479	309	2	]	]	PUNCT
cblr-12479	309	3	the	the	DET
cblr-12479	309	4	law	law	NOUN
cblr-12479	309	5	of	of	ADP
cblr-12479	309	6	contingent	contingent	NOUN
cblr-12479	309	7	control	control	VERB
cblr-12479	309	8	701	701	NUM
cblr-12479	309	9	deliberation	deliberation	NOUN
cblr-12479	309	10	and	and	CCONJ
cblr-12479	309	11	approval	approval	NOUN
cblr-12479	309	12	of	of	ADP
cblr-12479	309	13	the	the	DET
cblr-12479	309	14	most	most	ADV
cblr-12479	309	15	sensitive	sensitive	ADJ
cblr-12479	309	16	decisions	decision	NOUN
cblr-12479	309	17	,	,	PUNCT
cblr-12479	309	18	such	such	ADJ
cblr-12479	309	19	as	as	ADP
cblr-12479	309	20	hiring	hire	VERB
cblr-12479	309	21	executives	executive	NOUN
cblr-12479	309	22	and	and	CCONJ
cblr-12479	309	23	issuing	issue	VERB
cblr-12479	309	24	shares.100	shares.100	PROPN
cblr-12479	309	25	while	while	SCONJ
cblr-12479	309	26	practical	practical	ADJ
cblr-12479	309	27	,	,	PUNCT
cblr-12479	309	28	this	this	DET
cblr-12479	309	29	distribution	distribution	NOUN
cblr-12479	309	30	of	of	ADP
cblr-12479	309	31	control	control	NOUN
cblr-12479	309	32	rights	right	NOUN
cblr-12479	309	33	has	have	VERB
cblr-12479	309	34	unresolved	unresolved	ADJ
cblr-12479	309	35	issues	issue	NOUN
cblr-12479	309	36	.	.	PUNCT
cblr-12479	310	1	in	in	ADP
cblr-12479	310	2	some	some	DET
cblr-12479	310	3	jurisdictions	jurisdiction	NOUN
cblr-12479	310	4	,	,	PUNCT
cblr-12479	310	5	board	board	NOUN
cblr-12479	310	6	nomination	nomination	NOUN
cblr-12479	310	7	and	and	CCONJ
cblr-12479	310	8	election	election	NOUN
cblr-12479	310	9	by	by	ADP
cblr-12479	310	10	class	class	NOUN
cblr-12479	310	11	is	be	AUX
cblr-12479	310	12	only	only	ADV
cblr-12479	310	13	allowed	allow	VERB
cblr-12479	310	14	in	in	ADP
cblr-12479	310	15	exceptional	exceptional	ADJ
cblr-12479	310	16	circumstances	circumstance	NOUN
cblr-12479	310	17	,	,	PUNCT
cblr-12479	310	18	such	such	ADJ
cblr-12479	310	19	as	as	ADP
cblr-12479	310	20	when	when	SCONJ
cblr-12479	310	21	dividends	dividend	NOUN
cblr-12479	310	22	of	of	ADP
cblr-12479	310	23	non	non	ADJ
cblr-12479	310	24	-	-	ADJ
cblr-12479	310	25	voting	voting	ADJ
cblr-12479	310	26	shares	share	NOUN
cblr-12479	310	27	are	be	AUX
cblr-12479	310	28	repeatedly	repeatedly	ADV
cblr-12479	310	29	retained.101	retained.101	ADJ
cblr-12479	310	30	in	in	ADP
cblr-12479	310	31	most	most	ADJ
cblr-12479	310	32	jurisdictions	jurisdiction	NOUN
cblr-12479	310	33	,	,	PUNCT
cblr-12479	310	34	however	however	ADV
cblr-12479	310	35	,	,	PUNCT
cblr-12479	310	36	such	such	DET
cblr-12479	310	37	a	a	DET
cblr-12479	310	38	distribution	distribution	NOUN
cblr-12479	310	39	is	be	AUX
cblr-12479	310	40	explicitly	explicitly	ADV
cblr-12479	310	41	forbidden	forbid	VERB
cblr-12479	310	42	or	or	CCONJ
cblr-12479	310	43	not	not	PART
cblr-12479	310	44	legally	legally	ADV
cblr-12479	310	45	binding	binding	ADJ
cblr-12479	310	46	,	,	PUNCT
cblr-12479	310	47	as	as	SCONJ
cblr-12479	310	48	boards	board	NOUN
cblr-12479	310	49	are	be	AUX
cblr-12479	310	50	expected	expect	VERB
cblr-12479	310	51	to	to	PART
cblr-12479	310	52	represent	represent	VERB
cblr-12479	310	53	(	(	PUNCT
cblr-12479	310	54	and	and	CCONJ
cblr-12479	310	55	be	be	AUX
cblr-12479	310	56	elected	elect	VERB
cblr-12479	310	57	by	by	ADP
cblr-12479	310	58	)	)	PUNCT
cblr-12479	310	59	all	all	DET
cblr-12479	310	60	shareholders.102	shareholders.102	NOUN
cblr-12479	310	61	to	to	PART
cblr-12479	310	62	circumvent	circumvent	VERB
cblr-12479	310	63	this	this	DET
cblr-12479	310	64	restriction	restriction	NOUN
cblr-12479	310	65	,	,	PUNCT
cblr-12479	310	66	vcs	vcs	PROPN
cblr-12479	310	67	use	use	VERB
cblr-12479	310	68	shareholders	shareholder	NOUN
cblr-12479	310	69	’	'	PUNCT
cblr-12479	310	70	agreements	agreement	NOUN
cblr-12479	310	71	providing	provide	VERB
cblr-12479	310	72	that	that	SCONJ
cblr-12479	310	73	all	all	DET
cblr-12479	310	74	shareholders	shareholder	NOUN
cblr-12479	310	75	would	would	AUX
cblr-12479	310	76	vote	vote	VERB
cblr-12479	310	77	for	for	ADP
cblr-12479	310	78	the	the	DET
cblr-12479	310	79	nominee	nominee	NOUN
cblr-12479	310	80	of	of	ADP
cblr-12479	310	81	a	a	DET
cblr-12479	310	82	given	give	VERB
cblr-12479	310	83	investor	investor	NOUN
cblr-12479	310	84	,	,	PUNCT
cblr-12479	310	85	but	but	CCONJ
cblr-12479	310	86	such	such	ADJ
cblr-12479	310	87	agreements	agreement	NOUN
cblr-12479	310	88	might	might	AUX
cblr-12479	310	89	not	not	PART
cblr-12479	310	90	be	be	AUX
cblr-12479	310	91	easily	easily	ADV
cblr-12479	310	92	(	(	PUNCT
cblr-12479	310	93	or	or	CCONJ
cblr-12479	310	94	at	at	ADV
cblr-12479	310	95	all	all	ADV
cblr-12479	310	96	)	)	PUNCT
cblr-12479	310	97	enforceable,103	enforceable,103	PROPN
cblr-12479	310	98	and	and	CCONJ
cblr-12479	310	99	over	over	ADP
cblr-12479	310	100	-	-	PUNCT
cblr-12479	310	101	reliance	reliance	NOUN
cblr-12479	310	102	on	on	ADP
cblr-12479	310	103	them	they	PRON
cblr-12479	310	104	could	could	AUX
cblr-12479	310	105	have	have	VERB
cblr-12479	310	106	adverse	adverse	ADJ
cblr-12479	310	107	long	long	ADJ
cblr-12479	310	108	-	-	PUNCT
cblr-12479	310	109	term	term	NOUN
cblr-12479	310	110	consequences.104	consequences.104	NOUN
cblr-12479	310	111	now	now	ADV
cblr-12479	310	112	,	,	PUNCT
cblr-12479	310	113	even	even	ADV
cblr-12479	310	114	when	when	SCONJ
cblr-12479	310	115	boards	board	NOUN
cblr-12479	310	116	are	be	AUX
cblr-12479	310	117	indeed	indeed	ADV
cblr-12479	310	118	integrated	integrate	VERB
cblr-12479	310	119	with	with	ADP
cblr-12479	310	120	constituency	constituency	NOUN
cblr-12479	310	121	directors	director	NOUN
cblr-12479	310	122	,	,	PUNCT
cblr-12479	310	123	it	it	PRON
cblr-12479	310	124	is	be	AUX
cblr-12479	310	125	still	still	ADV
cblr-12479	310	126	uncertain	uncertain	ADJ
cblr-12479	310	127	whether	whether	SCONJ
cblr-12479	310	128	the	the	DET
cblr-12479	310	129	right	right	NOUN
cblr-12479	310	130	to	to	PART
cblr-12479	310	131	elect	elect	VERB
cblr-12479	310	132	board	board	NOUN
cblr-12479	310	133	members	member	NOUN
cblr-12479	310	134	can	can	AUX
cblr-12479	310	135	be	be	AUX
cblr-12479	310	136	useful	useful	ADJ
cblr-12479	310	137	for	for	ADP
cblr-12479	310	138	exercising	exercise	VERB
cblr-12479	310	139	control	control	NOUN
cblr-12479	310	140	when	when	SCONJ
cblr-12479	310	141	it	it	PRON
cblr-12479	310	142	is	be	AUX
cblr-12479	310	143	most	most	ADV
cblr-12479	310	144	relevant	relevant	ADJ
cblr-12479	310	145	,	,	PUNCT
cblr-12479	310	146	i.e.	i.e.	X
cblr-12479	310	147	,	,	PUNCT
cblr-12479	310	148	in	in	ADP
cblr-12479	310	149	exit	exit	NOUN
cblr-12479	310	150	decisions	decision	NOUN
cblr-12479	310	151	.	.	PUNCT
cblr-12479	311	1	in	in	ADP
cblr-12479	311	2	the	the	DET
cblr-12479	311	3	u.s	u.s	PROPN
cblr-12479	311	4	.	.	PROPN
cblr-12479	311	5	,	,	PUNCT
cblr-12479	311	6	where	where	SCONJ
cblr-12479	311	7	it	it	PRON
cblr-12479	311	8	is	be	AUX
cblr-12479	311	9	common	common	ADJ
cblr-12479	311	10	for	for	SCONJ
cblr-12479	311	11	vc	vc	NOUN
cblr-12479	311	12	-	-	PUNCT
cblr-12479	311	13	backed	back	VERB
cblr-12479	311	14	firms	firm	NOUN
cblr-12479	311	15	to	to	PART
cblr-12479	311	16	have	have	VERB
cblr-12479	311	17	class	class	NOUN
cblr-12479	311	18	-	-	PUNCT
cblr-12479	311	19	elected	elect	VERB
cblr-12479	311	20	board	board	NOUN
cblr-12479	311	21	members	member	NOUN
cblr-12479	311	22	,	,	PUNCT
cblr-12479	311	23	influential	influential	ADJ
cblr-12479	311	24	delaware	delaware	PROPN
cblr-12479	311	25	case	case	NOUN
cblr-12479	311	26	law	law	NOUN
cblr-12479	311	27	dictates	dictate	VERB
cblr-12479	311	28	that	that	SCONJ
cblr-12479	311	29	boards	board	NOUN
cblr-12479	311	30	should	should	AUX
cblr-12479	311	31	prioritize	prioritize	VERB
cblr-12479	311	32	the	the	DET
cblr-12479	311	33	interests	interest	NOUN
cblr-12479	311	34	of	of	ADP
cblr-12479	311	35	common	common	ADJ
cblr-12479	311	36	shareholders	shareholder	NOUN
cblr-12479	311	37	(	(	PUNCT
cblr-12479	311	38	not	not	PART
cblr-12479	311	39	their	their	PRON
cblr-12479	311	40	“	"	PUNCT
cblr-12479	311	41	electors	elector	NOUN
cblr-12479	311	42	”	"	PUNCT
cblr-12479	311	43	)	)	PUNCT
cblr-12479	311	44	,	,	PUNCT
cblr-12479	311	45	effectively	effectively	ADV
cblr-12479	311	46	preventing	prevent	VERB
cblr-12479	311	47	the	the	DET
cblr-12479	311	48	exercise	exercise	NOUN
cblr-12479	311	49	of	of	ADP
cblr-12479	311	50	100	100	NUM
cblr-12479	311	51	while	while	SCONJ
cblr-12479	311	52	boards	board	NOUN
cblr-12479	311	53	’	’	PART
cblr-12479	311	54	powers	power	NOUN
cblr-12479	311	55	vary	vary	VERB
cblr-12479	311	56	across	across	ADP
cblr-12479	311	57	legal	legal	ADJ
cblr-12479	311	58	systems	system	NOUN
cblr-12479	311	59	and	and	CCONJ
cblr-12479	311	60	companies	company	NOUN
cblr-12479	311	61	,	,	PUNCT
cblr-12479	311	62	their	their	PRON
cblr-12479	311	63	approval	approval	NOUN
cblr-12479	311	64	is	be	AUX
cblr-12479	311	65	legally	legally	ADV
cblr-12479	311	66	required	require	VERB
cblr-12479	311	67	for	for	ADP
cblr-12479	311	68	fundamental	fundamental	ADJ
cblr-12479	311	69	transactions	transaction	NOUN
cblr-12479	311	70	(	(	PUNCT
cblr-12479	311	71	e.g.	e.g.	ADV
cblr-12479	311	72	,	,	PUNCT
cblr-12479	311	73	mergers	merger	NOUN
cblr-12479	311	74	)	)	PUNCT
cblr-12479	311	75	in	in	ADP
cblr-12479	311	76	most	most	ADJ
cblr-12479	311	77	jurisdictions	jurisdiction	NOUN
cblr-12479	311	78	.	.	PUNCT
cblr-12479	312	1	boards	board	NOUN
cblr-12479	312	2	also	also	ADV
cblr-12479	312	3	have	have	VERB
cblr-12479	312	4	the	the	DET
cblr-12479	312	5	authority	authority	NOUN
cblr-12479	312	6	to	to	PART
cblr-12479	312	7	hire	hire	VERB
cblr-12479	312	8	and	and	CCONJ
cblr-12479	312	9	fire	fire	NOUN
cblr-12479	312	10	executives	executive	NOUN
cblr-12479	312	11	and	and	CCONJ
cblr-12479	312	12	may	may	AUX
cblr-12479	312	13	even	even	ADV
cblr-12479	312	14	issue	issue	VERB
cblr-12479	312	15	shares	share	NOUN
cblr-12479	312	16	with	with	ADP
cblr-12479	312	17	preferred	preferred	ADJ
cblr-12479	312	18	rights	right	NOUN
cblr-12479	312	19	.	.	PUNCT
cblr-12479	313	1	for	for	ADP
cblr-12479	313	2	empirical	empirical	ADJ
cblr-12479	313	3	evidence	evidence	NOUN
cblr-12479	313	4	on	on	ADP
cblr-12479	313	5	how	how	SCONJ
cblr-12479	313	6	vcs	vcs	PROPN
cblr-12479	313	7	use	use	VERB
cblr-12479	313	8	these	these	DET
cblr-12479	313	9	powers	power	NOUN
cblr-12479	313	10	,	,	PUNCT
cblr-12479	313	11	see	see	VERB
cblr-12479	313	12	hellmann	hellmann	PROPN
cblr-12479	313	13	&	&	CCONJ
cblr-12479	313	14	puri	puri	PROPN
cblr-12479	313	15	,	,	PUNCT
cblr-12479	313	16	supra	supra	PROPN
cblr-12479	313	17	note	note	PROPN
cblr-12479	313	18	6	6	NUM
cblr-12479	313	19	(	(	PUNCT
cblr-12479	313	20	finding	find	VERB
cblr-12479	313	21	that	that	PRON
cblr-12479	313	22	vc	vc	NOUN
cblr-12479	313	23	-	-	PUNCT
cblr-12479	313	24	backed	back	VERB
cblr-12479	313	25	companies	company	NOUN
cblr-12479	313	26	“	"	PUNCT
cblr-12479	313	27	are	be	AUX
cblr-12479	313	28	.	.	PUNCT
cblr-12479	313	29	.	.	PUNCT
cblr-12479	313	30	.	.	PUNCT
cblr-12479	314	1	more	more	ADV
cblr-12479	314	2	likely	likely	ADJ
cblr-12479	314	3	and	and	CCONJ
cblr-12479	314	4	faster	fast	ADV
cblr-12479	314	5	to	to	PART
cblr-12479	314	6	replace	replace	VERB
cblr-12479	314	7	the	the	DET
cblr-12479	314	8	founder	founder	NOUN
cblr-12479	314	9	with	with	ADP
cblr-12479	314	10	an	an	DET
cblr-12479	314	11	outside	outside	ADJ
cblr-12479	314	12	ceo	ceo	NOUN
cblr-12479	314	13	,	,	PUNCT
cblr-12479	314	14	both	both	CCONJ
cblr-12479	314	15	in	in	ADP
cblr-12479	314	16	situations	situation	NOUN
cblr-12479	314	17	that	that	PRON
cblr-12479	314	18	appear	appear	VERB
cblr-12479	314	19	adversarial	adversarial	ADJ
cblr-12479	314	20	and	and	CCONJ
cblr-12479	314	21	those	those	PRON
cblr-12479	314	22	mutually	mutually	ADV
cblr-12479	314	23	agreed	agree	VERB
cblr-12479	314	24	to	to	ADP
cblr-12479	314	25	.	.	PUNCT
cblr-12479	314	26	”	"	PUNCT
cblr-12479	314	27	)	)	PUNCT
cblr-12479	314	28	;	;	PUNCT
cblr-12479	314	29	see	see	VERB
cblr-12479	314	30	also	also	ADV
cblr-12479	314	31	broughman	broughman	PROPN
cblr-12479	314	32	&	&	CCONJ
cblr-12479	314	33	fried	fried	PROPN
cblr-12479	314	34	,	,	PUNCT
cblr-12479	314	35	supra	supra	PROPN
cblr-12479	314	36	note	note	NOUN
cblr-12479	314	37	12	12	NUM
cblr-12479	314	38	,	,	PUNCT
cblr-12479	314	39	at	at	ADP
cblr-12479	314	40	1329–30	1329–30	NUM
cblr-12479	314	41	.	.	PUNCT
cblr-12479	315	1	101	101	NUM
cblr-12479	315	2	that	that	PRON
cblr-12479	315	3	was	be	AUX
cblr-12479	315	4	the	the	DET
cblr-12479	315	5	case	case	NOUN
cblr-12479	315	6	of	of	ADP
cblr-12479	315	7	the	the	DET
cblr-12479	315	8	united	united	PROPN
cblr-12479	315	9	states	states	PROPN
cblr-12479	315	10	before	before	ADP
cblr-12479	315	11	the	the	DET
cblr-12479	315	12	rise	rise	NOUN
cblr-12479	315	13	of	of	ADP
cblr-12479	315	14	the	the	DET
cblr-12479	315	15	vc	vc	PROPN
cblr-12479	315	16	industry	industry	NOUN
cblr-12479	315	17	.	.	PUNCT
cblr-12479	316	1	see	see	VERB
cblr-12479	316	2	richard	richard	PROPN
cblr-12479	316	3	m.	m.	PROPN
cblr-12479	316	4	buxbaum	buxbaum	PROPN
cblr-12479	316	5	,	,	PUNCT
cblr-12479	316	6	preferred	preferred	ADJ
cblr-12479	316	7	stock	stock	NOUN
cblr-12479	316	8	-	-	PUNCT
cblr-12479	316	9	law	law	NOUN
cblr-12479	316	10	and	and	CCONJ
cblr-12479	316	11	draftsmanship	draftsmanship	NOUN
cblr-12479	316	12	,	,	PUNCT
cblr-12479	316	13	42	42	NUM
cblr-12479	316	14	calif	calif	NOUN
cblr-12479	316	15	.	.	PUNCT
cblr-12479	317	1	l.	l.	PROPN
cblr-12479	317	2	rev	rev	PROPN
cblr-12479	317	3	.	.	PROPN
cblr-12479	317	4	243	243	NUM
cblr-12479	317	5	,	,	PUNCT
cblr-12479	317	6	271	271	NUM
cblr-12479	317	7	(	(	PUNCT
cblr-12479	317	8	1954	1954	NUM
cblr-12479	317	9	)	)	PUNCT
cblr-12479	317	10	.	.	PUNCT
cblr-12479	318	1	102	102	NUM
cblr-12479	318	2	martin	martin	PROPN
cblr-12479	318	3	gelter	gelter	PROPN
cblr-12479	318	4	&	&	CCONJ
cblr-12479	318	5	geneviève	geneviève	PROPN
cblr-12479	318	6	helleringer	helleringer	NOUN
cblr-12479	318	7	,	,	PUNCT
cblr-12479	318	8	constituency	constituency	NOUN
cblr-12479	318	9	directors	director	NOUN
cblr-12479	318	10	and	and	CCONJ
cblr-12479	318	11	corporate	corporate	ADJ
cblr-12479	318	12	fiduciary	fiduciary	ADJ
cblr-12479	318	13	duties	duty	NOUN
cblr-12479	318	14	,	,	PUNCT
cblr-12479	318	15	in	in	ADP
cblr-12479	318	16	philosophical	philosophical	ADJ
cblr-12479	318	17	foundations	foundation	NOUN
cblr-12479	318	18	of	of	ADP
cblr-12479	318	19	fiduciary	fiduciary	ADJ
cblr-12479	318	20	law	law	NOUN
cblr-12479	318	21	302	302	NUM
cblr-12479	318	22	,	,	PUNCT
cblr-12479	318	23	308–09	308–09	NUM
cblr-12479	318	24	(	(	PUNCT
cblr-12479	318	25	andrew	andrew	PROPN
cblr-12479	318	26	s.	s.	PROPN
cblr-12479	318	27	gold	gold	PROPN
cblr-12479	318	28	&	&	CCONJ
cblr-12479	318	29	paul	paul	PROPN
cblr-12479	318	30	b.	b.	PROPN
cblr-12479	318	31	miller	miller	PROPN
cblr-12479	318	32	eds	eds	PROPN
cblr-12479	318	33	.	.	PROPN
cblr-12479	318	34	,	,	PUNCT
cblr-12479	318	35	2014	2014	NUM
cblr-12479	318	36	)	)	PUNCT
cblr-12479	318	37	.	.	PUNCT
cblr-12479	319	1	103	103	NUM
cblr-12479	319	2	see	see	NOUN
cblr-12479	319	3	infra	infra	NOUN
cblr-12479	319	4	section	section	NOUN
cblr-12479	319	5	iv.c	iv.c	VERB
cblr-12479	319	6	.	.	PUNCT
cblr-12479	320	1	104	104	NUM
cblr-12479	320	2	see	see	VERB
cblr-12479	320	3	infra	infra	NOUN
cblr-12479	320	4	part	part	NOUN
cblr-12479	320	5	v.	v.	ADP
cblr-12479	320	6	702	702	NUM
cblr-12479	320	7	columbia	columbia	PROPN
cblr-12479	320	8	business	business	NOUN
cblr-12479	320	9	law	law	NOUN
cblr-12479	320	10	review	review	NOUN
cblr-12479	320	11	[	[	X
cblr-12479	320	12	vol	vol	NOUN
cblr-12479	320	13	.	.	PUNCT
cblr-12479	320	14	2023	2023	NUM
cblr-12479	320	15	control	control	NOUN
cblr-12479	320	16	when	when	SCONJ
cblr-12479	320	17	it	it	PRON
cblr-12479	320	18	is	be	AUX
cblr-12479	320	19	most	most	ADJ
cblr-12479	320	20	needed.105	needed.105	PROPN
cblr-12479	320	21	bratton	bratton	PROPN
cblr-12479	320	22	and	and	CCONJ
cblr-12479	320	23	watcher	watcher	NOUN
cblr-12479	320	24	recount	recount	NOUN
cblr-12479	320	25	how	how	SCONJ
cblr-12479	320	26	that	that	PRON
cblr-12479	320	27	has	have	AUX
cblr-12479	320	28	been	be	AUX
cblr-12479	320	29	the	the	DET
cblr-12479	320	30	dominant	dominant	ADJ
cblr-12479	320	31	approach	approach	NOUN
cblr-12479	320	32	taken	take	VERB
cblr-12479	320	33	by	by	ADP
cblr-12479	320	34	the	the	DET
cblr-12479	320	35	chancery	chancery	NOUN
cblr-12479	320	36	court	court	NOUN
cblr-12479	320	37	,	,	PUNCT
cblr-12479	320	38	regardless	regardless	ADV
cblr-12479	320	39	of	of	ADP
cblr-12479	320	40	whether	whether	SCONJ
cblr-12479	320	41	the	the	DET
cblr-12479	320	42	board	board	NOUN
cblr-12479	320	43	is	be	AUX
cblr-12479	320	44	controlled	control	VERB
cblr-12479	320	45	by	by	ADP
cblr-12479	320	46	common	common	ADJ
cblr-12479	320	47	or	or	CCONJ
cblr-12479	320	48	by	by	ADP
cblr-12479	320	49	preferred	preferred	ADJ
cblr-12479	320	50	shareholders.106	shareholders.106	PROPN
cblr-12479	320	51	since	since	SCONJ
cblr-12479	320	52	such	such	ADJ
cblr-12479	320	53	distributions	distribution	NOUN
cblr-12479	320	54	might	might	AUX
cblr-12479	320	55	be	be	AUX
cblr-12479	320	56	socially	socially	ADV
cblr-12479	320	57	valuable,107	valuable,107	PROPN
cblr-12479	320	58	bratton	bratton	PROPN
cblr-12479	320	59	and	and	CCONJ
cblr-12479	320	60	watcher108	watcher108	PROPN
cblr-12479	320	61	(	(	PUNCT
cblr-12479	320	62	and	and	CCONJ
cblr-12479	320	63	more	more	ADV
cblr-12479	320	64	recently	recently	ADV
cblr-12479	320	65	,	,	PUNCT
cblr-12479	320	66	sanga	sanga	PROPN
cblr-12479	320	67	and	and	CCONJ
cblr-12479	320	68	talley)109	talley)109	PROPN
cblr-12479	320	69	proposed	propose	VERB
cblr-12479	320	70	alternative	alternative	ADJ
cblr-12479	320	71	approaches	approach	NOUN
cblr-12479	320	72	that	that	PRON
cblr-12479	320	73	delaware	delaware	PROPN
cblr-12479	320	74	might	might	AUX
cblr-12479	320	75	adopt	adopt	VERB
cblr-12479	320	76	in	in	ADP
cblr-12479	320	77	the	the	DET
cblr-12479	320	78	future	future	NOUN
cblr-12479	320	79	to	to	PART
cblr-12479	320	80	enable	enable	VERB
cblr-12479	320	81	it	it	PRON
cblr-12479	320	82	without	without	ADP
cblr-12479	320	83	drastically	drastically	ADV
cblr-12479	320	84	changing	change	VERB
cblr-12479	320	85	the	the	DET
cblr-12479	320	86	fundamental	fundamental	ADJ
cblr-12479	320	87	structure	structure	NOUN
cblr-12479	320	88	of	of	ADP
cblr-12479	320	89	corporate	corporate	ADJ
cblr-12479	320	90	law	law	NOUN
cblr-12479	320	91	.	.	PUNCT
cblr-12479	321	1	for	for	ADP
cblr-12479	321	2	the	the	DET
cblr-12479	321	3	moment	moment	NOUN
cblr-12479	321	4	,	,	PUNCT
cblr-12479	321	5	however	however	ADV
cblr-12479	321	6	,	,	PUNCT
cblr-12479	321	7	a	a	DET
cblr-12479	321	8	corporate	corporate	ADJ
cblr-12479	321	9	law	law	NOUN
cblr-12479	321	10	fence	fence	NOUN
cblr-12479	321	11	seems	seem	VERB
cblr-12479	321	12	to	to	PART
cblr-12479	321	13	hinder	hinder	VERB
cblr-12479	321	14	useful	useful	ADJ
cblr-12479	321	15	bargains	bargain	NOUN
cblr-12479	321	16	over	over	ADP
cblr-12479	321	17	constituency	constituency	NOUN
cblr-12479	321	18	directors,110	directors,110	PROPN
cblr-12479	321	19	and	and	CCONJ
cblr-12479	321	20	incentivize	incentivize	VERB
cblr-12479	321	21	governance	governance	NOUN
cblr-12479	321	22	structures	structure	NOUN
cblr-12479	321	23	based	base	VERB
cblr-12479	321	24	on	on	ADP
cblr-12479	321	25	private	private	ADJ
cblr-12479	321	26	agreements	agreement	NOUN
cblr-12479	321	27	.	.	PUNCT
cblr-12479	322	1	c.	c.	PROPN
cblr-12479	322	2	summary	summary	PROPN
cblr-12479	322	3	corporate	corporate	ADJ
cblr-12479	322	4	law	law	NOUN
cblr-12479	322	5	rules	rule	NOUN
cblr-12479	322	6	governing	govern	VERB
cblr-12479	322	7	shareholder	shareholder	NOUN
cblr-12479	322	8	votes	vote	NOUN
cblr-12479	322	9	,	,	PUNCT
cblr-12479	322	10	as	as	ADV
cblr-12479	322	11	well	well	ADV
cblr-12479	322	12	as	as	ADP
cblr-12479	322	13	the	the	DET
cblr-12479	322	14	election	election	NOUN
cblr-12479	322	15	and	and	CCONJ
cblr-12479	322	16	powers	power	NOUN
cblr-12479	322	17	of	of	ADP
cblr-12479	322	18	the	the	DET
cblr-12479	322	19	board	board	NOUN
cblr-12479	322	20	of	of	ADP
cblr-12479	322	21	directors	director	NOUN
cblr-12479	322	22	,	,	PUNCT
cblr-12479	322	23	define	define	VERB
cblr-12479	322	24	the	the	DET
cblr-12479	322	25	range	range	NOUN
cblr-12479	322	26	of	of	ADP
cblr-12479	322	27	bargains	bargain	NOUN
cblr-12479	322	28	between	between	ADP
cblr-12479	322	29	founders	founder	NOUN
cblr-12479	322	30	and	and	CCONJ
cblr-12479	322	31	investors	investor	NOUN
cblr-12479	322	32	over	over	ADP
cblr-12479	322	33	startups	startup	NOUN
cblr-12479	322	34	’	'	PUNCT
cblr-12479	322	35	control	control	NOUN
cblr-12479	322	36	and	and	CCONJ
cblr-12479	322	37	,	,	PUNCT
cblr-12479	322	38	correspondingly	correspondingly	ADV
cblr-12479	322	39	,	,	PUNCT
cblr-12479	322	40	the	the	DET
cblr-12479	322	41	range	range	NOUN
cblr-12479	322	42	of	of	ADP
cblr-12479	322	43	efficient	efficient	ADJ
cblr-12479	322	44	financial	financial	ADJ
cblr-12479	322	45	contracting	contracting	NOUN
cblr-12479	322	46	.	.	PUNCT
cblr-12479	323	1	the	the	DET
cblr-12479	323	2	regulation	regulation	NOUN
cblr-12479	323	3	of	of	ADP
cblr-12479	323	4	voting	voting	NOUN
cblr-12479	323	5	in	in	ADP
cblr-12479	323	6	non	non	ADJ
cblr-12479	323	7	-	-	ADJ
cblr-12479	323	8	listed	listed	ADJ
cblr-12479	323	9	companies	company	NOUN
cblr-12479	323	10	is	be	AUX
cblr-12479	323	11	—	—	PUNCT
cblr-12479	323	12	contrary	contrary	ADJ
cblr-12479	323	13	to	to	ADP
cblr-12479	323	14	dominant	dominant	ADJ
cblr-12479	323	15	assumptions	assumption	NOUN
cblr-12479	323	16	—	—	PUNCT
cblr-12479	323	17	quite	quite	ADV
cblr-12479	323	18	rigid	rigid	ADJ
cblr-12479	323	19	across	across	ADP
cblr-12479	323	20	jurisdictions	jurisdiction	NOUN
cblr-12479	323	21	.	.	PUNCT
cblr-12479	324	1	restrictions	restriction	NOUN
cblr-12479	324	2	to	to	ADP
cblr-12479	324	3	voting	voting	NOUN
cblr-12479	324	4	rights	right	NOUN
cblr-12479	324	5	are	be	AUX
cblr-12479	324	6	often	often	ADV
cblr-12479	324	7	required	require	VERB
cblr-12479	324	8	to	to	PART
cblr-12479	324	9	be	be	AUX
cblr-12479	324	10	accompanied	accompany	VERB
cblr-12479	324	11	by	by	ADP
cblr-12479	324	12	expanded	expand	VERB
cblr-12479	324	13	cash	cash	NOUN
cblr-12479	324	14	flow	flow	NOUN
cblr-12479	324	15	rights	right	NOUN
cblr-12479	324	16	.	.	PUNCT
cblr-12479	325	1	multiple	multiple	ADJ
cblr-12479	325	2	voting	voting	NOUN
cblr-12479	325	3	shares	share	NOUN
cblr-12479	325	4	are	be	AUX
cblr-12479	325	5	often	often	ADV
cblr-12479	325	6	capped	cap	VERB
cblr-12479	325	7	(	(	PUNCT
cblr-12479	325	8	e.g.	e.g.	ADV
cblr-12479	325	9	,	,	PUNCT
cblr-12479	325	10	two	two	NUM
cblr-12479	325	11	votes	vote	NOUN
cblr-12479	325	12	per	per	ADP
cblr-12479	325	13	share	share	NOUN
cblr-12479	325	14	)	)	PUNCT
cblr-12479	325	15	or	or	CCONJ
cblr-12479	325	16	forbidden	forbid	VERB
cblr-12479	325	17	if	if	SCONJ
cblr-12479	325	18	they	they	PRON
cblr-12479	325	19	also	also	ADV
cblr-12479	325	20	have	have	VERB
cblr-12479	325	21	preferential	preferential	ADJ
cblr-12479	325	22	cash	cash	NOUN
cblr-12479	325	23	flow	flow	NOUN
cblr-12479	325	24	105	105	NUM
cblr-12479	325	25	elizabeth	elizabeth	PROPN
cblr-12479	325	26	pollman	pollman	PROPN
cblr-12479	325	27	,	,	PUNCT
cblr-12479	325	28	startup	startup	NOUN
cblr-12479	325	29	governance	governance	NOUN
cblr-12479	325	30	,	,	PUNCT
cblr-12479	325	31	168	168	NUM
cblr-12479	325	32	univ	univ	ADJ
cblr-12479	325	33	.	.	PUNCT
cblr-12479	326	1	pa	pa	PROPN
cblr-12479	326	2	.	.	PROPN
cblr-12479	326	3	l.	l.	PROPN
cblr-12479	326	4	rev	rev	PROPN
cblr-12479	326	5	.	.	PROPN
cblr-12479	326	6	155	155	NUM
cblr-12479	326	7	,	,	PUNCT
cblr-12479	326	8	190	190	NUM
cblr-12479	326	9	(	(	PUNCT
cblr-12479	326	10	2019	2019	NUM
cblr-12479	326	11	)	)	PUNCT
cblr-12479	326	12	;	;	PUNCT
cblr-12479	327	1	simone	simone	PROPN
cblr-12479	327	2	m.	m.	PROPN
cblr-12479	327	3	sepe	sepe	PROPN
cblr-12479	327	4	,	,	PUNCT
cblr-12479	327	5	intruders	intruder	NOUN
cblr-12479	327	6	in	in	ADP
cblr-12479	327	7	the	the	DET
cblr-12479	327	8	boardroom	boardroom	NOUN
cblr-12479	327	9	:	:	PUNCT
cblr-12479	327	10	the	the	DET
cblr-12479	327	11	case	case	NOUN
cblr-12479	327	12	of	of	ADP
cblr-12479	327	13	constituency	constituency	NOUN
cblr-12479	327	14	directors	director	NOUN
cblr-12479	327	15	,	,	PUNCT
cblr-12479	327	16	91	91	NUM
cblr-12479	327	17	wash	wash	NOUN
cblr-12479	327	18	.	.	PUNCT
cblr-12479	328	1	u.	u.	PROPN
cblr-12479	328	2	l.	l.	PROPN
cblr-12479	328	3	rev	rev	PROPN
cblr-12479	328	4	.	.	PROPN
cblr-12479	328	5	309	309	NUM
cblr-12479	328	6	(	(	PUNCT
cblr-12479	328	7	2013	2013	NUM
cblr-12479	328	8	)	)	PUNCT
cblr-12479	328	9	.	.	PUNCT
cblr-12479	329	1	106	106	NUM
cblr-12479	329	2	bratton	bratton	PROPN
cblr-12479	329	3	&	&	CCONJ
cblr-12479	329	4	wachter	wachter	PROPN
cblr-12479	329	5	,	,	PUNCT
cblr-12479	329	6	supra	supra	PROPN
cblr-12479	329	7	note	note	NOUN
cblr-12479	329	8	91	91	NUM
cblr-12479	329	9	at	at	ADP
cblr-12479	329	10	1874	1874	NUM
cblr-12479	329	11	-	-	SYM
cblr-12479	329	12	98	98	NUM
cblr-12479	329	13	.	.	PUNCT
cblr-12479	330	1	107	107	NUM
cblr-12479	330	2	aghion	aghion	NOUN
cblr-12479	330	3	&	&	CCONJ
cblr-12479	330	4	bolton	bolton	PROPN
cblr-12479	330	5	,	,	PUNCT
cblr-12479	330	6	supra	supra	PROPN
cblr-12479	330	7	note	note	NOUN
cblr-12479	330	8	39	39	NUM
cblr-12479	330	9	.	.	PUNCT
cblr-12479	331	1	108	108	NUM
cblr-12479	331	2	bratton	bratton	PROPN
cblr-12479	331	3	&	&	CCONJ
cblr-12479	331	4	wachter	wachter	PROPN
cblr-12479	331	5	,	,	PUNCT
cblr-12479	331	6	supra	supra	PROPN
cblr-12479	331	7	note	note	NOUN
cblr-12479	331	8	91	91	NUM
cblr-12479	331	9	at	at	ADP
cblr-12479	331	10	1900	1900	NUM
cblr-12479	331	11	-	-	SYM
cblr-12479	331	12	1905	1905	NUM
cblr-12479	331	13	;	;	PUNCT
cblr-12479	331	14	see	see	VERB
cblr-12479	331	15	also	also	ADV
cblr-12479	331	16	jesse	jesse	PROPN
cblr-12479	331	17	m.	m.	PROPN
cblr-12479	331	18	fried	fried	PROPN
cblr-12479	331	19	&	&	CCONJ
cblr-12479	331	20	mira	mira	PROPN
cblr-12479	331	21	ganor	ganor	PROPN
cblr-12479	331	22	,	,	PUNCT
cblr-12479	331	23	agency	agency	NOUN
cblr-12479	331	24	costs	cost	NOUN
cblr-12479	331	25	of	of	ADP
cblr-12479	331	26	venture	venture	NOUN
cblr-12479	331	27	capitalist	capitalist	ADJ
cblr-12479	331	28	control	control	NOUN
cblr-12479	331	29	in	in	ADP
cblr-12479	331	30	startups	startup	NOUN
cblr-12479	331	31	,	,	PUNCT
cblr-12479	331	32	81	81	NUM
cblr-12479	331	33	n.y.u	n.y.u	NOUN
cblr-12479	331	34	.	.	PUNCT
cblr-12479	332	1	l.	l.	PROPN
cblr-12479	332	2	rev	rev	PROPN
cblr-12479	332	3	.	.	PROPN
cblr-12479	332	4	967	967	NUM
cblr-12479	332	5	,	,	PUNCT
cblr-12479	332	6	1020–1023	1020–1023	NUM
cblr-12479	332	7	(	(	PUNCT
cblr-12479	332	8	2006	2006	NUM
cblr-12479	332	9	)	)	PUNCT
cblr-12479	332	10	(	(	PUNCT
cblr-12479	332	11	discussing	discuss	VERB
cblr-12479	332	12	two	two	NUM
cblr-12479	332	13	specific	specific	ADJ
cblr-12479	332	14	alternatives	alternative	NOUN
cblr-12479	332	15	:	:	PUNCT
cblr-12479	332	16	“	"	PUNCT
cblr-12479	332	17	private	private	ADJ
cblr-12479	332	18	tailoring	tailoring	NOUN
cblr-12479	332	19	”	"	PUNCT
cblr-12479	332	20	and	and	CCONJ
cblr-12479	332	21	a	a	DET
cblr-12479	332	22	“	"	PUNCT
cblr-12479	332	23	balancing	balance	VERB
cblr-12479	332	24	approach	approach	NOUN
cblr-12479	332	25	”	"	PUNCT
cblr-12479	332	26	)	)	PUNCT
cblr-12479	332	27	.	.	PUNCT
cblr-12479	333	1	109	109	NUM
cblr-12479	333	2	sarath	sarath	PROPN
cblr-12479	333	3	sanga	sanga	PROPN
cblr-12479	333	4	&	&	CCONJ
cblr-12479	333	5	eric	eric	PROPN
cblr-12479	333	6	l.	l.	PROPN
cblr-12479	333	7	talley	talley	PROPN
cblr-12479	333	8	,	,	PUNCT
cblr-12479	333	9	do	do	AUX
cblr-12479	333	10	n’t	not	PART
cblr-12479	333	11	go	go	VERB
cblr-12479	333	12	chasing	chase	VERB
cblr-12479	333	13	waterfalls	waterfall	NOUN
cblr-12479	333	14	:	:	PUNCT
cblr-12479	333	15	fiduciary	fiduciary	ADJ
cblr-12479	333	16	duties	duty	NOUN
cblr-12479	333	17	in	in	ADP
cblr-12479	333	18	venture	venture	NOUN
cblr-12479	333	19	capital	capital	NOUN
cblr-12479	333	20	backed	back	VERB
cblr-12479	333	21	startups	startup	NOUN
cblr-12479	333	22	(	(	PUNCT
cblr-12479	333	23	eur	eur	PROPN
cblr-12479	333	24	.	.	PROPN
cblr-12479	333	25	corp	corp	PROPN
cblr-12479	333	26	.	.	PROPN
cblr-12479	333	27	governance	governance	PROPN
cblr-12479	333	28	inst	inst	PROPN
cblr-12479	333	29	.	.	PROPN
cblr-12479	333	30	,	,	PUNCT
cblr-12479	333	31	working	work	VERB
cblr-12479	333	32	paper	paper	NOUN
cblr-12479	333	33	no	no	INTJ
cblr-12479	333	34	.	.	PROPN
cblr-12479	333	35	634	634	NUM
cblr-12479	333	36	,	,	PUNCT
cblr-12479	333	37	2023	2023	NUM
cblr-12479	333	38	)	)	PUNCT
cblr-12479	333	39	.	.	PUNCT
cblr-12479	334	1	110	110	NUM
cblr-12479	334	2	casimiro	casimiro	PROPN
cblr-12479	334	3	a.	a.	NOUN
cblr-12479	334	4	nigro	nigro	PROPN
cblr-12479	334	5	&	&	CCONJ
cblr-12479	334	6	jörg	jörg	PROPN
cblr-12479	334	7	r.	r.	PROPN
cblr-12479	334	8	stahl	stahl	PROPN
cblr-12479	334	9	,	,	PUNCT
cblr-12479	334	10	venture	venture	NOUN
cblr-12479	334	11	capital	capital	NOUN
cblr-12479	334	12	-	-	PUNCT
cblr-12479	334	13	backed	back	VERB
cblr-12479	334	14	firms	firm	NOUN
cblr-12479	334	15	,	,	PUNCT
cblr-12479	334	16	unavoidable	unavoidable	ADJ
cblr-12479	334	17	value	value	NOUN
cblr-12479	334	18	-	-	PUNCT
cblr-12479	334	19	destroying	destroy	VERB
cblr-12479	334	20	trade	trade	NOUN
cblr-12479	334	21	sales	sale	NOUN
cblr-12479	334	22	,	,	PUNCT
cblr-12479	334	23	and	and	CCONJ
cblr-12479	334	24	fair	fair	ADJ
cblr-12479	334	25	value	value	NOUN
cblr-12479	334	26	protections	protection	NOUN
cblr-12479	334	27	,	,	PUNCT
cblr-12479	334	28	22	22	NUM
cblr-12479	334	29	eur	eur	NOUN
cblr-12479	334	30	.	.	PUNCT
cblr-12479	335	1	bus	bus	NOUN
cblr-12479	335	2	.	.	PUNCT
cblr-12479	336	1	org	org	PROPN
cblr-12479	336	2	.	.	PUNCT
cblr-12479	337	1	l.	l.	PROPN
cblr-12479	337	2	rev	rev	PROPN
cblr-12479	337	3	.	.	PROPN
cblr-12479	337	4	39	39	NUM
cblr-12479	337	5	(	(	PUNCT
cblr-12479	337	6	2021	2021	NUM
cblr-12479	337	7	)	)	PUNCT
cblr-12479	337	8	.	.	PUNCT
cblr-12479	338	1	no	no	INTJ
cblr-12479	338	2	.	.	NOUN
cblr-12479	339	1	2	2	NUM
cblr-12479	339	2	]	]	PUNCT
cblr-12479	339	3	the	the	DET
cblr-12479	339	4	law	law	NOUN
cblr-12479	339	5	of	of	ADP
cblr-12479	339	6	contingent	contingent	NOUN
cblr-12479	339	7	control	control	VERB
cblr-12479	339	8	703	703	NUM
cblr-12479	339	9	rights	right	NOUN
cblr-12479	339	10	.	.	PUNCT
cblr-12479	340	1	the	the	DET
cblr-12479	340	2	ability	ability	NOUN
cblr-12479	340	3	to	to	PART
cblr-12479	340	4	bargain	bargain	VERB
cblr-12479	340	5	over	over	ADP
cblr-12479	340	6	boards	board	NOUN
cblr-12479	340	7	’	'	PUNCT
cblr-12479	340	8	election	election	NOUN
cblr-12479	340	9	and	and	CCONJ
cblr-12479	340	10	powers	power	NOUN
cblr-12479	340	11	is	be	AUX
cblr-12479	340	12	also	also	ADV
cblr-12479	340	13	hindered	hinder	VERB
cblr-12479	340	14	by	by	ADP
cblr-12479	340	15	rigid	rigid	ADJ
cblr-12479	340	16	rules	rule	NOUN
cblr-12479	340	17	,	,	PUNCT
cblr-12479	340	18	e.g.	e.g.	ADV
cblr-12479	340	19	,	,	PUNCT
cblr-12479	340	20	explicitly	explicitly	ADV
cblr-12479	340	21	requiring	require	VERB
cblr-12479	340	22	boards	board	NOUN
cblr-12479	340	23	to	to	PART
cblr-12479	340	24	be	be	AUX
cblr-12479	340	25	elected	elect	VERB
cblr-12479	340	26	by	by	ADP
cblr-12479	340	27	all	all	DET
cblr-12479	340	28	shareholders	shareholder	NOUN
cblr-12479	340	29	or	or	CCONJ
cblr-12479	340	30	requiring	require	VERB
cblr-12479	340	31	shareholder	shareholder	NOUN
cblr-12479	340	32	approval	approval	NOUN
cblr-12479	340	33	of	of	ADP
cblr-12479	340	34	issuances	issuance	NOUN
cblr-12479	340	35	of	of	ADP
cblr-12479	340	36	preferred	preferred	ADJ
cblr-12479	340	37	shares	share	NOUN
cblr-12479	340	38	.	.	PUNCT
cblr-12479	341	1	while	while	SCONJ
cblr-12479	341	2	there	there	PRON
cblr-12479	341	3	is	be	VERB
cblr-12479	341	4	evidence	evidence	NOUN
cblr-12479	341	5	that	that	SCONJ
cblr-12479	341	6	some	some	PRON
cblr-12479	341	7	of	of	ADP
cblr-12479	341	8	these	these	DET
cblr-12479	341	9	rules	rule	NOUN
cblr-12479	341	10	are	be	AUX
cblr-12479	341	11	becoming	become	VERB
cblr-12479	341	12	more	more	ADV
cblr-12479	341	13	flexible	flexible	ADJ
cblr-12479	341	14	,	,	PUNCT
cblr-12479	341	15	particularly	particularly	ADV
cblr-12479	341	16	in	in	ADP
cblr-12479	341	17	economies	economy	NOUN
cblr-12479	341	18	attempting	attempt	VERB
cblr-12479	341	19	to	to	PART
cblr-12479	341	20	foster	foster	VERB
cblr-12479	341	21	startups	startup	NOUN
cblr-12479	341	22	and	and	CCONJ
cblr-12479	341	23	vc	vc	INTJ
cblr-12479	341	24	,	,	PUNCT
cblr-12479	341	25	they	they	PRON
cblr-12479	341	26	may	may	AUX
cblr-12479	341	27	still	still	ADV
cblr-12479	341	28	limit	limit	VERB
cblr-12479	341	29	the	the	DET
cblr-12479	341	30	contingent	contingent	ADJ
cblr-12479	341	31	allocation	allocation	NOUN
cblr-12479	341	32	of	of	ADP
cblr-12479	341	33	control	control	NOUN
cblr-12479	341	34	rights	right	NOUN
cblr-12479	341	35	,	,	PUNCT
cblr-12479	341	36	as	as	SCONJ
cblr-12479	341	37	discussed	discuss	VERB
cblr-12479	341	38	in	in	ADP
cblr-12479	341	39	the	the	DET
cblr-12479	341	40	next	next	ADJ
cblr-12479	341	41	part	part	NOUN
cblr-12479	341	42	.	.	PUNCT
cblr-12479	342	1	iv	iv	X
cblr-12479	342	2	.	.	PUNCT
cblr-12479	342	3	contingent	contingent	PROPN
cblr-12479	342	4	control	control	VERB
cblr-12479	342	5	the	the	DET
cblr-12479	342	6	success	success	NOUN
cblr-12479	342	7	of	of	ADP
cblr-12479	342	8	business	business	NOUN
cblr-12479	342	9	ventures	venture	NOUN
cblr-12479	342	10	between	between	ADP
cblr-12479	342	11	entrepreneurs	entrepreneur	NOUN
cblr-12479	342	12	and	and	CCONJ
cblr-12479	342	13	vc	vc	PROPN
cblr-12479	342	14	investors	investor	NOUN
cblr-12479	342	15	is	be	AUX
cblr-12479	342	16	threatened	threaten	VERB
cblr-12479	342	17	by	by	ADP
cblr-12479	342	18	incentive	incentive	NOUN
cblr-12479	342	19	misalignment	misalignment	NOUN
cblr-12479	342	20	and	and	CCONJ
cblr-12479	342	21	distrust	distrust	NOUN
cblr-12479	342	22	.	.	PUNCT
cblr-12479	343	1	through	through	ADP
cblr-12479	343	2	security	security	NOUN
cblr-12479	343	3	design	design	NOUN
cblr-12479	343	4	,	,	PUNCT
cblr-12479	343	5	they	they	PRON
cblr-12479	343	6	can	can	AUX
cblr-12479	343	7	mitigate	mitigate	VERB
cblr-12479	343	8	these	these	DET
cblr-12479	343	9	issues	issue	NOUN
cblr-12479	343	10	:	:	PUNCT
cblr-12479	343	11	first	first	ADV
cblr-12479	343	12	,	,	PUNCT
cblr-12479	343	13	by	by	ADP
cblr-12479	343	14	creating	create	VERB
cblr-12479	343	15	different	different	ADJ
cblr-12479	343	16	classes	class	NOUN
cblr-12479	343	17	of	of	ADP
cblr-12479	343	18	shares	share	NOUN
cblr-12479	343	19	,	,	PUNCT
cblr-12479	343	20	and	and	CCONJ
cblr-12479	343	21	second	second	ADJ
cblr-12479	343	22	,	,	PUNCT
cblr-12479	343	23	by	by	ADP
cblr-12479	343	24	allocating	allocate	VERB
cblr-12479	343	25	decision	decision	NOUN
cblr-12479	343	26	rights	right	NOUN
cblr-12479	343	27	to	to	ADP
cblr-12479	343	28	the	the	DET
cblr-12479	343	29	class	class	NOUN
cblr-12479	343	30	of	of	ADP
cblr-12479	343	31	shares	share	NOUN
cblr-12479	343	32	whose	whose	DET
cblr-12479	343	33	holders	holder	NOUN
cblr-12479	343	34	are	be	AUX
cblr-12479	343	35	less	less	ADV
cblr-12479	343	36	prone	prone	ADJ
cblr-12479	343	37	to	to	PART
cblr-12479	343	38	depart	depart	VERB
cblr-12479	343	39	from	from	ADP
cblr-12479	343	40	the	the	DET
cblr-12479	343	41	interest	interest	NOUN
cblr-12479	343	42	of	of	ADP
cblr-12479	343	43	the	the	DET
cblr-12479	343	44	business	business	NOUN
cblr-12479	343	45	venture	venture	NOUN
cblr-12479	343	46	at	at	ADP
cblr-12479	343	47	crucial	crucial	ADJ
cblr-12479	343	48	moments	moment	NOUN
cblr-12479	343	49	,	,	PUNCT
cblr-12479	343	50	which	which	PRON
cblr-12479	343	51	are	be	AUX
cblr-12479	343	52	identified	identify	VERB
cblr-12479	343	53	ex	ex	PRON
cblr-12479	343	54	ante	ante	NOUN
cblr-12479	343	55	based	base	VERB
cblr-12479	343	56	on	on	ADP
cblr-12479	343	57	performance	performance	NOUN
cblr-12479	343	58	measures	measure	NOUN
cblr-12479	343	59	—	—	PUNCT
cblr-12479	343	60	e.g.	e.g.	ADV
cblr-12479	343	61	,	,	PUNCT
cblr-12479	343	62	to	to	ADP
cblr-12479	343	63	investors	investor	NOUN
cblr-12479	343	64	when	when	SCONJ
cblr-12479	343	65	the	the	DET
cblr-12479	343	66	company	company	NOUN
cblr-12479	343	67	must	must	AUX
cblr-12479	343	68	raise	raise	VERB
cblr-12479	343	69	funds	fund	NOUN
cblr-12479	343	70	at	at	ADP
cblr-12479	343	71	a	a	DET
cblr-12479	343	72	lower	low	ADJ
cblr-12479	343	73	valuation	valuation	NOUN
cblr-12479	343	74	and	and	CCONJ
cblr-12479	343	75	to	to	ADP
cblr-12479	343	76	entrepreneurs	entrepreneur	NOUN
cblr-12479	343	77	when	when	SCONJ
cblr-12479	343	78	company	company	NOUN
cblr-12479	343	79	valuation	valuation	NOUN
cblr-12479	343	80	exceeds	exceed	VERB
cblr-12479	343	81	expectations	expectation	NOUN
cblr-12479	343	82	.	.	PUNCT
cblr-12479	344	1	where	where	SCONJ
cblr-12479	344	2	corporate	corporate	ADJ
cblr-12479	344	3	law	law	NOUN
cblr-12479	344	4	allows	allow	VERB
cblr-12479	344	5	the	the	DET
cblr-12479	344	6	separation	separation	NOUN
cblr-12479	344	7	of	of	ADP
cblr-12479	344	8	cash	cash	NOUN
cblr-12479	344	9	flow	flow	NOUN
cblr-12479	344	10	from	from	ADP
cblr-12479	344	11	control	control	NOUN
cblr-12479	344	12	(	(	PUNCT
cblr-12479	344	13	through	through	ADP
cblr-12479	344	14	voting	voting	NOUN
cblr-12479	344	15	and	and	CCONJ
cblr-12479	344	16	board	board	NOUN
cblr-12479	344	17	representation	representation	NOUN
cblr-12479	344	18	arrangements	arrangement	NOUN
cblr-12479	344	19	by	by	ADP
cblr-12479	344	20	classes	class	NOUN
cblr-12479	344	21	of	of	ADP
cblr-12479	344	22	shares	share	NOUN
cblr-12479	344	23	)	)	PUNCT
cblr-12479	344	24	,	,	PUNCT
cblr-12479	344	25	it	it	PRON
cblr-12479	344	26	also	also	ADV
cblr-12479	344	27	determines	determine	VERB
cblr-12479	344	28	the	the	DET
cblr-12479	344	29	extent	extent	NOUN
cblr-12479	344	30	to	to	PART
cblr-12479	344	31	which	which	PRON
cblr-12479	344	32	the	the	DET
cblr-12479	344	33	allocation	allocation	NOUN
cblr-12479	344	34	and	and	CCONJ
cblr-12479	344	35	exercise	exercise	NOUN
cblr-12479	344	36	of	of	ADP
cblr-12479	344	37	those	those	DET
cblr-12479	344	38	rights	right	NOUN
cblr-12479	344	39	can	can	AUX
cblr-12479	344	40	be	be	AUX
cblr-12479	344	41	conditioned	condition	VERB
cblr-12479	344	42	to	to	ADP
cblr-12479	344	43	the	the	DET
cblr-12479	344	44	occurrence	occurrence	NOUN
cblr-12479	344	45	of	of	ADP
cblr-12479	344	46	pre	pre	ADJ
cblr-12479	344	47	-	-	ADJ
cblr-12479	344	48	defined	define	VERB
cblr-12479	344	49	events	event	NOUN
cblr-12479	344	50	—	—	PUNCT
cblr-12479	344	51	i.e.	i.e.	X
cblr-12479	344	52	,	,	PUNCT
cblr-12479	344	53	contingent	contingent	ADJ
cblr-12479	344	54	control	control	NOUN
cblr-12479	344	55	.	.	PUNCT
cblr-12479	345	1	a.	a.	NOUN
cblr-12479	345	2	restricted	restrict	VERB
cblr-12479	345	3	common	common	ADJ
cblr-12479	345	4	and	and	CCONJ
cblr-12479	345	5	stock	stock	NOUN
cblr-12479	345	6	options	option	NOUN
cblr-12479	345	7	the	the	DET
cblr-12479	345	8	ability	ability	NOUN
cblr-12479	345	9	to	to	PART
cblr-12479	345	10	re	re	VERB
cblr-12479	345	11	-	-	VERB
cblr-12479	345	12	design	design	ADJ
cblr-12479	345	13	common	common	ADJ
cblr-12479	345	14	shares	share	NOUN
cblr-12479	345	15	is	be	AUX
cblr-12479	345	16	useful	useful	ADJ
cblr-12479	345	17	to	to	PART
cblr-12479	345	18	regulate	regulate	VERB
cblr-12479	345	19	entrepreneurs	entrepreneur	NOUN
cblr-12479	345	20	’	'	PUNCT
cblr-12479	345	21	control	control	NOUN
cblr-12479	345	22	at	at	ADP
cblr-12479	345	23	different	different	ADJ
cblr-12479	345	24	stages	stage	NOUN
cblr-12479	345	25	of	of	ADP
cblr-12479	345	26	the	the	DET
cblr-12479	345	27	business	business	NOUN
cblr-12479	345	28	lifecycle	lifecycle	NOUN
cblr-12479	345	29	.	.	PUNCT
cblr-12479	346	1	here	here	ADV
cblr-12479	346	2	,	,	PUNCT
cblr-12479	346	3	the	the	DET
cblr-12479	346	4	prospected	prospect	VERB
cblr-12479	346	5	expansion	expansion	NOUN
cblr-12479	346	6	of	of	ADP
cblr-12479	346	7	their	their	PRON
cblr-12479	346	8	governance	governance	NOUN
cblr-12479	346	9	rights	right	NOUN
cblr-12479	346	10	can	can	AUX
cblr-12479	346	11	work	work	VERB
cblr-12479	346	12	as	as	ADP
cblr-12479	346	13	an	an	DET
cblr-12479	346	14	incentive	incentive	NOUN
cblr-12479	346	15	for	for	SCONJ
cblr-12479	346	16	entrepreneurs	entrepreneur	NOUN
cblr-12479	346	17	to	to	PART
cblr-12479	346	18	stay	stay	VERB
cblr-12479	346	19	in	in	ADP
cblr-12479	346	20	the	the	DET
cblr-12479	346	21	company	company	NOUN
cblr-12479	346	22	and	and	CCONJ
cblr-12479	346	23	put	put	VERB
cblr-12479	346	24	more	more	ADJ
cblr-12479	346	25	effort	effort	NOUN
cblr-12479	346	26	in	in	ADP
cblr-12479	346	27	achieving	achieve	VERB
cblr-12479	346	28	goals	goal	NOUN
cblr-12479	346	29	faster.111	faster.111	ADJ
cblr-12479	346	30	ideally	ideally	ADV
cblr-12479	346	31	,	,	PUNCT
cblr-12479	346	32	founders	founder	NOUN
cblr-12479	346	33	of	of	ADP
cblr-12479	346	34	vc	vc	PROPN
cblr-12479	346	35	-	-	PUNCT
cblr-12479	346	36	backed	back	VERB
cblr-12479	346	37	companies	company	NOUN
cblr-12479	346	38	should	should	AUX
cblr-12479	346	39	111	111	NUM
cblr-12479	346	40	subjecting	subject	VERB
cblr-12479	346	41	the	the	DET
cblr-12479	346	42	expansion	expansion	NOUN
cblr-12479	346	43	of	of	ADP
cblr-12479	346	44	entrepreneurs	entrepreneur	NOUN
cblr-12479	346	45	’	'	PUNCT
cblr-12479	346	46	rights	right	NOUN
cblr-12479	346	47	to	to	ADP
cblr-12479	346	48	long	long	ADJ
cblr-12479	346	49	-	-	PUNCT
cblr-12479	346	50	term	term	NOUN
cblr-12479	346	51	goals	goal	NOUN
cblr-12479	346	52	can	can	AUX
cblr-12479	346	53	also	also	ADV
cblr-12479	346	54	work	work	VERB
cblr-12479	346	55	as	as	ADP
cblr-12479	346	56	a	a	DET
cblr-12479	346	57	screening	screening	NOUN
cblr-12479	346	58	process	process	NOUN
cblr-12479	346	59	,	,	PUNCT
cblr-12479	346	60	as	as	SCONJ
cblr-12479	346	61	“	"	PUNCT
cblr-12479	346	62	bad	bad	ADJ
cblr-12479	346	63	”	"	PUNCT
cblr-12479	346	64	entrepreneurs	entrepreneur	NOUN
cblr-12479	346	65	would	would	AUX
cblr-12479	346	66	be	be	AUX
cblr-12479	346	67	reluctant	reluctant	ADJ
cblr-12479	346	68	to	to	PART
cblr-12479	346	69	make	make	VERB
cblr-12479	346	70	such	such	ADJ
cblr-12479	346	71	commitments	commitment	NOUN
cblr-12479	346	72	.	.	PUNCT
cblr-12479	347	1	see	see	VERB
cblr-12479	347	2	david	david	PROPN
cblr-12479	347	3	r	r	PROPN
cblr-12479	347	4	skeie	skeie	PROPN
cblr-12479	347	5	,	,	PUNCT
cblr-12479	347	6	vesting	vesting	NOUN
cblr-12479	347	7	and	and	CCONJ
cblr-12479	347	8	704	704	NUM
cblr-12479	347	9	columbia	columbia	PROPN
cblr-12479	347	10	business	business	NOUN
cblr-12479	347	11	law	law	PROPN
cblr-12479	347	12	review	review	NOUN
cblr-12479	348	1	[	[	X
cblr-12479	348	2	vol	vol	NOUN
cblr-12479	348	3	.	.	PUNCT
cblr-12479	348	4	2023	2023	NUM
cblr-12479	348	5	receive	receive	VERB
cblr-12479	348	6	common	common	ADJ
cblr-12479	348	7	stock	stock	NOUN
cblr-12479	348	8	with	with	ADP
cblr-12479	348	9	restrictions	restriction	NOUN
cblr-12479	348	10	on	on	ADP
cblr-12479	348	11	their	their	PRON
cblr-12479	348	12	voting	voting	NOUN
cblr-12479	348	13	and	and	CCONJ
cblr-12479	348	14	trading	trading	NOUN
cblr-12479	348	15	rights	right	NOUN
cblr-12479	348	16	,	,	PUNCT
cblr-12479	348	17	and	and	CCONJ
cblr-12479	348	18	these	these	DET
cblr-12479	348	19	restrictions	restriction	NOUN
cblr-12479	348	20	should	should	AUX
cblr-12479	348	21	be	be	AUX
cblr-12479	348	22	lifted	lift	VERB
cblr-12479	348	23	when	when	SCONJ
cblr-12479	348	24	an	an	DET
cblr-12479	348	25	identifiable	identifiable	ADJ
cblr-12479	348	26	and	and	CCONJ
cblr-12479	348	27	measurable	measurable	ADJ
cblr-12479	348	28	target	target	NOUN
cblr-12479	348	29	(	(	PUNCT
cblr-12479	348	30	e.g.	e.g.	ADV
cblr-12479	348	31	,	,	PUNCT
cblr-12479	348	32	revenue	revenue	NOUN
cblr-12479	348	33	growth	growth	NOUN
cblr-12479	348	34	)	)	PUNCT
cblr-12479	348	35	is	be	AUX
cblr-12479	348	36	achieved	achieve	VERB
cblr-12479	348	37	,	,	PUNCT
cblr-12479	348	38	which	which	PRON
cblr-12479	348	39	is	be	AUX
cblr-12479	348	40	commonly	commonly	ADV
cblr-12479	348	41	referred	refer	VERB
cblr-12479	348	42	to	to	ADP
cblr-12479	348	43	as	as	SCONJ
cblr-12479	348	44	vesting.112	vesting.112	PROPN
cblr-12479	348	45	this	this	PRON
cblr-12479	348	46	is	be	AUX
cblr-12479	348	47	difficult	difficult	ADJ
cblr-12479	348	48	to	to	PART
cblr-12479	348	49	achieve	achieve	VERB
cblr-12479	348	50	through	through	ADP
cblr-12479	348	51	security	security	NOUN
cblr-12479	348	52	design	design	NOUN
cblr-12479	348	53	,	,	PUNCT
cblr-12479	348	54	as	as	ADP
cblr-12479	348	55	the	the	DET
cblr-12479	348	56	complete	complete	ADJ
cblr-12479	348	57	elimination	elimination	NOUN
cblr-12479	348	58	of	of	ADP
cblr-12479	348	59	voting	voting	NOUN
cblr-12479	348	60	rights	right	NOUN
cblr-12479	348	61	,	,	PUNCT
cblr-12479	348	62	even	even	ADV
cblr-12479	348	63	if	if	SCONJ
cblr-12479	348	64	temporal	temporal	ADJ
cblr-12479	348	65	,	,	PUNCT
cblr-12479	348	66	generally	generally	ADV
cblr-12479	348	67	requires	require	VERB
cblr-12479	348	68	higher	high	ADJ
cblr-12479	348	69	cash	cash	NOUN
cblr-12479	348	70	-	-	PUNCT
cblr-12479	348	71	flow	flow	NOUN
cblr-12479	348	72	rights.113	rights.113	NOUN
cblr-12479	348	73	hence	hence	ADV
cblr-12479	348	74	,	,	PUNCT
cblr-12479	348	75	in	in	ADP
cblr-12479	348	76	practice	practice	NOUN
cblr-12479	348	77	,	,	PUNCT
cblr-12479	348	78	founders	founder	NOUN
cblr-12479	348	79	’	'	PUNCT
cblr-12479	348	80	control	control	NOUN
cblr-12479	348	81	is	be	AUX
cblr-12479	348	82	halted	halt	VERB
cblr-12479	348	83	through	through	ADP
cblr-12479	348	84	other	other	ADJ
cblr-12479	348	85	means	mean	NOUN
cblr-12479	348	86	,	,	PUNCT
cblr-12479	348	87	such	such	ADJ
cblr-12479	348	88	as	as	ADP
cblr-12479	348	89	assigning	assign	VERB
cblr-12479	348	90	preferred	preferred	ADJ
cblr-12479	348	91	board	board	NOUN
cblr-12479	348	92	representation	representation	NOUN
cblr-12479	348	93	and	and	CCONJ
cblr-12479	348	94	voting	voting	NOUN
cblr-12479	348	95	rights	right	NOUN
cblr-12479	348	96	to	to	PART
cblr-12479	348	97	investors.114	investors.114	VERB
cblr-12479	348	98	an	an	DET
cblr-12479	348	99	alternative	alternative	NOUN
cblr-12479	348	100	that	that	PRON
cblr-12479	348	101	does	do	AUX
cblr-12479	348	102	not	not	PART
cblr-12479	348	103	require	require	VERB
cblr-12479	348	104	security	security	NOUN
cblr-12479	348	105	design	design	NOUN
cblr-12479	348	106	is	be	AUX
cblr-12479	348	107	the	the	DET
cblr-12479	348	108	use	use	NOUN
cblr-12479	348	109	of	of	ADP
cblr-12479	348	110	stock	stock	NOUN
cblr-12479	348	111	option	option	NOUN
cblr-12479	348	112	agreements	agreement	NOUN
cblr-12479	348	113	,	,	PUNCT
cblr-12479	348	114	by	by	ADP
cblr-12479	348	115	virtue	virtue	NOUN
cblr-12479	348	116	of	of	ADP
cblr-12479	348	117	which	which	PRON
cblr-12479	348	118	the	the	DET
cblr-12479	348	119	firm	firm	NOUN
cblr-12479	348	120	reserves	reserve	VERB
cblr-12479	348	121	a	a	DET
cblr-12479	348	122	pool	pool	NOUN
cblr-12479	348	123	of	of	ADP
cblr-12479	348	124	shares	share	NOUN
cblr-12479	348	125	and	and	CCONJ
cblr-12479	348	126	gradually	gradually	ADV
cblr-12479	348	127	releases	release	VERB
cblr-12479	348	128	them	they	PRON
cblr-12479	348	129	upon	upon	SCONJ
cblr-12479	348	130	the	the	DET
cblr-12479	348	131	passing	passing	NOUN
cblr-12479	348	132	of	of	ADP
cblr-12479	348	133	time	time	NOUN
cblr-12479	348	134	,	,	PUNCT
cblr-12479	348	135	or	or	CCONJ
cblr-12479	348	136	the	the	DET
cblr-12479	348	137	occurrence	occurrence	NOUN
cblr-12479	348	138	of	of	ADP
cblr-12479	348	139	a	a	DET
cblr-12479	348	140	contractually	contractually	ADV
cblr-12479	348	141	defined	define	VERB
cblr-12479	348	142	event	event	NOUN
cblr-12479	348	143	,	,	PUNCT
cblr-12479	348	144	such	such	ADJ
cblr-12479	348	145	as	as	ADP
cblr-12479	348	146	an	an	DET
cblr-12479	348	147	increase	increase	NOUN
cblr-12479	348	148	in	in	ADP
cblr-12479	348	149	revenue	revenue	NOUN
cblr-12479	348	150	or	or	CCONJ
cblr-12479	348	151	company	company	NOUN
cblr-12479	348	152	valuation.115	valuation.115	PRON
cblr-12479	348	153	the	the	DET
cblr-12479	348	154	latter	latter	ADJ
cblr-12479	348	155	alternative	alternative	NOUN
cblr-12479	348	156	is	be	AUX
cblr-12479	348	157	,	,	PUNCT
cblr-12479	348	158	however	however	ADV
cblr-12479	348	159	,	,	PUNCT
cblr-12479	348	160	suboptimal	suboptimal	ADJ
cblr-12479	348	161	as	as	SCONJ
cblr-12479	348	162	it	it	PRON
cblr-12479	348	163	deprives	deprive	VERB
cblr-12479	348	164	founders	founder	NOUN
cblr-12479	348	165	of	of	ADP
cblr-12479	348	166	other	other	ADJ
cblr-12479	348	167	fundamental	fundamental	ADJ
cblr-12479	348	168	rights	right	NOUN
cblr-12479	348	169	(	(	PUNCT
cblr-12479	348	170	e.g.	e.g.	ADV
cblr-12479	348	171	,	,	PUNCT
cblr-12479	348	172	to	to	PART
cblr-12479	348	173	sue	sue	VERB
cblr-12479	348	174	directors	director	NOUN
cblr-12479	348	175	)	)	PUNCT
cblr-12479	348	176	,	,	PUNCT
cblr-12479	348	177	which	which	PRON
cblr-12479	348	178	explains	explain	VERB
cblr-12479	348	179	why	why	SCONJ
cblr-12479	348	180	they	they	PRON
cblr-12479	348	181	are	be	AUX
cblr-12479	348	182	more	more	ADV
cblr-12479	348	183	often	often	ADV
cblr-12479	348	184	used	use	VERB
cblr-12479	348	185	to	to	PART
cblr-12479	348	186	incentivize	incentivize	VERB
cblr-12479	348	187	and	and	CCONJ
cblr-12479	348	188	recruit	recruit	VERB
cblr-12479	348	189	employees	employee	NOUN
cblr-12479	348	190	than	than	ADP
cblr-12479	348	191	to	to	ADP
cblr-12479	348	192	structure	structure	NOUN
cblr-12479	348	193	founder	founder	NOUN
cblr-12479	348	194	contingent	contingent	NOUN
cblr-12479	349	1	control.116	control.116	PROPN
cblr-12479	349	2	b.	b.	PROPN
cblr-12479	350	1	convertible	convertible	ADJ
cblr-12479	350	2	preferred	preferred	ADJ
cblr-12479	350	3	stock	stock	NOUN
cblr-12479	350	4	the	the	DET
cblr-12479	350	5	most	most	ADV
cblr-12479	350	6	useful	useful	ADJ
cblr-12479	350	7	tool	tool	NOUN
cblr-12479	350	8	to	to	PART
cblr-12479	350	9	structure	structure	VERB
cblr-12479	350	10	contingent	contingent	NOUN
cblr-12479	350	11	control	control	NOUN
cblr-12479	350	12	through	through	ADP
cblr-12479	350	13	security	security	NOUN
cblr-12479	350	14	design	design	NOUN
cblr-12479	350	15	is	be	AUX
cblr-12479	350	16	by	by	ADP
cblr-12479	350	17	issuing	issue	VERB
cblr-12479	350	18	cps	cp	NOUN
cblr-12479	350	19	(	(	PUNCT
cblr-12479	350	20	i.e.	i.e.	X
cblr-12479	350	21	,	,	PUNCT
cblr-12479	350	22	convertible	convertible	ADJ
cblr-12479	350	23	preferred	preferred	ADJ
cblr-12479	350	24	stock	stock	NOUN
cblr-12479	350	25	)	)	PUNCT
cblr-12479	350	26	,	,	PUNCT
cblr-12479	350	27	which	which	PRON
cblr-12479	350	28	give	give	VERB
cblr-12479	350	29	their	their	PRON
cblr-12479	350	30	holders	holder	NOUN
cblr-12479	350	31	preferential	preferential	ADJ
cblr-12479	350	32	rights	right	NOUN
cblr-12479	350	33	that	that	PRON
cblr-12479	350	34	can	can	AUX
cblr-12479	350	35	be	be	AUX
cblr-12479	350	36	relinquished	relinquish	VERB
cblr-12479	350	37	or	or	CCONJ
cblr-12479	350	38	further	far	ADV
cblr-12479	350	39	enhanced	enhance	VERB
cblr-12479	350	40	based	base	VERB
cblr-12479	350	41	on	on	ADP
cblr-12479	350	42	control	control	NOUN
cblr-12479	350	43	in	in	ADP
cblr-12479	350	44	venture	venture	NOUN
cblr-12479	350	45	capital	capital	NOUN
cblr-12479	350	46	contracts	contract	NOUN
cblr-12479	350	47	,	,	PUNCT
cblr-12479	350	48	no	no	INTJ
cblr-12479	350	49	.	.	NOUN
cblr-12479	350	50	297	297	NUM
cblr-12479	350	51	fed	fed	PROPN
cblr-12479	350	52	.	.	PUNCT
cblr-12479	351	1	reserve	reserve	PROPN
cblr-12479	351	2	bank	bank	PROPN
cblr-12479	351	3	n.y	n.y	PROPN
cblr-12479	351	4	.	.	PROPN
cblr-12479	351	5	staff	staff	PROPN
cblr-12479	351	6	rep	rep	PROPN
cblr-12479	351	7	.	.	PROPN
cblr-12479	351	8	1	1	NUM
cblr-12479	351	9	(	(	PUNCT
cblr-12479	351	10	2007	2007	NUM
cblr-12479	351	11	)	)	PUNCT
cblr-12479	351	12	.	.	PUNCT
cblr-12479	352	1	112	112	NUM
cblr-12479	352	2	restricted	restrict	VERB
cblr-12479	352	3	shares	share	NOUN
cblr-12479	352	4	could	could	AUX
cblr-12479	352	5	be	be	AUX
cblr-12479	352	6	ideal	ideal	ADJ
cblr-12479	352	7	because	because	SCONJ
cblr-12479	352	8	their	their	PRON
cblr-12479	352	9	issuance	issuance	NOUN
cblr-12479	352	10	is	be	AUX
cblr-12479	352	11	not	not	PART
cblr-12479	352	12	postponed	postpone	VERB
cblr-12479	352	13	,	,	PUNCT
cblr-12479	352	14	providing	provide	VERB
cblr-12479	352	15	more	more	ADJ
cblr-12479	352	16	clarity	clarity	NOUN
cblr-12479	352	17	over	over	ADP
cblr-12479	352	18	the	the	DET
cblr-12479	352	19	capital	capital	NOUN
cblr-12479	352	20	structure	structure	NOUN
cblr-12479	352	21	and	and	CCONJ
cblr-12479	352	22	more	more	ADJ
cblr-12479	352	23	certainty	certainty	NOUN
cblr-12479	352	24	to	to	ADP
cblr-12479	352	25	founders	founder	NOUN
cblr-12479	352	26	about	about	ADP
cblr-12479	352	27	their	their	PRON
cblr-12479	352	28	rights	right	NOUN
cblr-12479	352	29	.	.	PUNCT
cblr-12479	353	1	113	113	NUM
cblr-12479	353	2	see	see	VERB
cblr-12479	353	3	supra	supra	PROPN
cblr-12479	353	4	section	section	PROPN
cblr-12479	353	5	iii.b.1	iii.b.1	PROPN
cblr-12479	353	6	.	.	PROPN
cblr-12479	353	7	114	114	NUM
cblr-12479	353	8	see	see	NOUN
cblr-12479	353	9	infra	infra	NOUN
cblr-12479	353	10	section	section	NOUN
cblr-12479	353	11	iv.b	iv.b	PROPN
cblr-12479	353	12	.	.	PROPN
cblr-12479	353	13	115	115	NUM
cblr-12479	353	14	see	see	VERB
cblr-12479	353	15	generally	generally	ADV
cblr-12479	353	16	chua	chua	PROPN
cblr-12479	353	17	&	&	CCONJ
cblr-12479	353	18	woodward	woodward	PROPN
cblr-12479	353	19	,	,	PUNCT
cblr-12479	353	20	supra	supra	PROPN
cblr-12479	353	21	note	note	NOUN
cblr-12479	353	22	16	16	NUM
cblr-12479	353	23	.	.	PUNCT
cblr-12479	354	1	116	116	NUM
cblr-12479	354	2	see	see	VERB
cblr-12479	354	3	hellmann	hellmann	PROPN
cblr-12479	354	4	&	&	CCONJ
cblr-12479	354	5	puri	puri	PROPN
cblr-12479	354	6	,	,	PUNCT
cblr-12479	354	7	supra	supra	PROPN
cblr-12479	354	8	note	note	NOUN
cblr-12479	354	9	6	6	NUM
cblr-12479	354	10	.	.	PUNCT
cblr-12479	355	1	see	see	VERB
cblr-12479	355	2	also	also	ADV
cblr-12479	355	3	anat	anat	PROPN
cblr-12479	355	4	alon	alon	PROPN
cblr-12479	355	5	-	-	PUNCT
cblr-12479	355	6	beck	beck	PROPN
cblr-12479	355	7	,	,	PUNCT
cblr-12479	355	8	unicorn	unicorn	ADJ
cblr-12479	355	9	stock	stock	NOUN
cblr-12479	355	10	options	option	NOUN
cblr-12479	355	11	golden	golden	ADJ
cblr-12479	355	12	goose	goose	NOUN
cblr-12479	355	13	or	or	CCONJ
cblr-12479	355	14	trojan	trojan	NOUN
cblr-12479	355	15	horse	horse	NOUN
cblr-12479	355	16	,	,	PUNCT
cblr-12479	355	17	2019	2019	NUM
cblr-12479	355	18	colum	colum	NOUN
cblr-12479	355	19	.	.	PUNCT
cblr-12479	356	1	bus	bus	NOUN
cblr-12479	356	2	.	.	PUNCT
cblr-12479	357	1	l.	l.	PROPN
cblr-12479	357	2	rev	rev	PROPN
cblr-12479	357	3	.	.	PROPN
cblr-12479	357	4	107	107	NUM
cblr-12479	357	5	(	(	PUNCT
cblr-12479	357	6	2019	2019	NUM
cblr-12479	357	7	)	)	PUNCT
cblr-12479	357	8	;	;	PUNCT
cblr-12479	357	9	yifat	yifat	PROPN
cblr-12479	357	10	aran	aran	PROPN
cblr-12479	357	11	&	&	CCONJ
cblr-12479	357	12	raviv	raviv	PROPN
cblr-12479	357	13	murciano	murciano	PROPN
cblr-12479	357	14	-	-	PUNCT
cblr-12479	357	15	goroff	goroff	NOUN
cblr-12479	357	16	,	,	PUNCT
cblr-12479	357	17	equity	equity	NOUN
cblr-12479	357	18	illusions	illusion	NOUN
cblr-12479	357	19	,	,	PUNCT
cblr-12479	357	20	2023	2023	NUM
cblr-12479	357	21	j.	j.	PROPN
cblr-12479	357	22	l.	l.	PROPN
cblr-12479	357	23	econ	econ	PROPN
cblr-12479	357	24	.	.	PROPN
cblr-12479	357	25	&	&	CCONJ
cblr-12479	357	26	org	org	PROPN
cblr-12479	357	27	.	.	PUNCT
cblr-12479	358	1	1	1	NUM
cblr-12479	358	2	.	.	X
cblr-12479	359	1	no	no	INTJ
cblr-12479	359	2	.	.	NOUN
cblr-12479	360	1	2	2	NUM
cblr-12479	360	2	]	]	PUNCT
cblr-12479	360	3	the	the	DET
cblr-12479	360	4	law	law	NOUN
cblr-12479	360	5	of	of	ADP
cblr-12479	360	6	contingent	contingent	NOUN
cblr-12479	360	7	control	control	NOUN
cblr-12479	360	8	705	705	NUM
cblr-12479	360	9	performance	performance	NOUN
cblr-12479	360	10	,	,	PUNCT
cblr-12479	360	11	and	and	CCONJ
cblr-12479	360	12	not	not	PART
cblr-12479	360	13	necessarily	necessarily	ADV
cblr-12479	360	14	at	at	ADP
cblr-12479	360	15	their	their	PRON
cblr-12479	360	16	will.117	will.117	ADJ
cblr-12479	360	17	anti	anti	ADJ
cblr-12479	360	18	-	-	ADJ
cblr-12479	360	19	dilution	dilution	ADJ
cblr-12479	360	20	protections	protection	NOUN
cblr-12479	360	21	allow	allow	VERB
cblr-12479	360	22	cps	cps	PROPN
cblr-12479	360	23	holders	holder	NOUN
cblr-12479	360	24	to	to	PART
cblr-12479	360	25	preserve	preserve	VERB
cblr-12479	360	26	or	or	CCONJ
cblr-12479	360	27	even	even	ADV
cblr-12479	360	28	expand	expand	VERB
cblr-12479	360	29	their	their	PRON
cblr-12479	360	30	control	control	NOUN
cblr-12479	360	31	rights	right	NOUN
cblr-12479	360	32	at	at	ADP
cblr-12479	360	33	the	the	DET
cblr-12479	360	34	expense	expense	NOUN
cblr-12479	360	35	of	of	ADP
cblr-12479	360	36	founders	founder	NOUN
cblr-12479	360	37	in	in	ADP
cblr-12479	360	38	new	new	ADJ
cblr-12479	360	39	financing	financing	NOUN
cblr-12479	360	40	rounds	round	NOUN
cblr-12479	360	41	with	with	ADP
cblr-12479	360	42	lower	low	ADJ
cblr-12479	360	43	valuations.118	valuations.118	ADJ
cblr-12479	360	44	automatic	automatic	ADJ
cblr-12479	360	45	conversion	conversion	NOUN
cblr-12479	360	46	in	in	ADP
cblr-12479	360	47	case	case	NOUN
cblr-12479	360	48	of	of	ADP
cblr-12479	360	49	high	high	ADJ
cblr-12479	360	50	-	-	PUNCT
cblr-12479	360	51	value	value	NOUN
cblr-12479	360	52	exit	exit	NOUN
cblr-12479	360	53	(	(	PUNCT
cblr-12479	360	54	usually	usually	ADV
cblr-12479	360	55	an	an	DET
cblr-12479	360	56	ipo	ipo	NOUN
cblr-12479	360	57	)	)	PUNCT
cblr-12479	360	58	gives	give	VERB
cblr-12479	360	59	additional	additional	ADJ
cblr-12479	360	60	control	control	NOUN
cblr-12479	360	61	rights	right	NOUN
cblr-12479	360	62	to	to	ADP
cblr-12479	360	63	founders	founder	NOUN
cblr-12479	360	64	,	,	PUNCT
cblr-12479	360	65	because	because	SCONJ
cblr-12479	360	66	vcs	vcs	PROPN
cblr-12479	360	67	(	(	PUNCT
cblr-12479	360	68	usually	usually	ADV
cblr-12479	360	69	the	the	DET
cblr-12479	360	70	holders	holder	NOUN
cblr-12479	360	71	of	of	ADP
cblr-12479	360	72	cps	cps	PROPN
cblr-12479	360	73	)	)	PUNCT
cblr-12479	360	74	relinquish	relinquish	VERB
cblr-12479	360	75	the	the	DET
cblr-12479	360	76	right	right	NOUN
cblr-12479	360	77	to	to	PART
cblr-12479	360	78	elect	elect	VERB
cblr-12479	360	79	a	a	DET
cblr-12479	360	80	board	board	NOUN
cblr-12479	360	81	member	member	NOUN
cblr-12479	360	82	as	as	ADP
cblr-12479	360	83	a	a	DET
cblr-12479	360	84	class.119	class.119	PROPN
cblr-12479	360	85	enhancing	enhance	VERB
cblr-12479	360	86	cps	cp	NOUN
cblr-12479	360	87	’	'	PUNCT
cblr-12479	360	88	rights	right	NOUN
cblr-12479	360	89	has	have	VERB
cblr-12479	360	90	less	less	ADJ
cblr-12479	360	91	bargaining	bargaining	NOUN
cblr-12479	360	92	friction	friction	NOUN
cblr-12479	360	93	,	,	PUNCT
cblr-12479	360	94	for	for	SCONJ
cblr-12479	360	95	it	it	PRON
cblr-12479	360	96	does	do	AUX
cblr-12479	360	97	not	not	PART
cblr-12479	360	98	imply	imply	VERB
cblr-12479	360	99	directly	directly	ADV
cblr-12479	360	100	restricting	restrict	VERB
cblr-12479	360	101	the	the	DET
cblr-12479	360	102	rights	right	NOUN
cblr-12479	360	103	of	of	ADP
cblr-12479	360	104	common	common	ADJ
cblr-12479	360	105	shares	share	NOUN
cblr-12479	360	106	.	.	PUNCT
cblr-12479	361	1	hence	hence	ADV
cblr-12479	361	2	,	,	PUNCT
cblr-12479	361	3	differences	difference	NOUN
cblr-12479	361	4	in	in	ADP
cblr-12479	361	5	the	the	DET
cblr-12479	361	6	rules	rule	NOUN
cblr-12479	361	7	governing	govern	VERB
cblr-12479	361	8	these	these	DET
cblr-12479	361	9	two	two	NUM
cblr-12479	361	10	characteristics	characteristic	NOUN
cblr-12479	361	11	of	of	ADP
cblr-12479	361	12	cps	cps	PROPN
cblr-12479	361	13	’	'	PUNCT
cblr-12479	361	14	governance	governance	NOUN
cblr-12479	361	15	rights	right	NOUN
cblr-12479	361	16	could	could	AUX
cblr-12479	361	17	meaningfully	meaningfully	ADV
cblr-12479	361	18	change	change	VERB
cblr-12479	361	19	vc	vc	NOUN
cblr-12479	361	20	activity	activity	NOUN
cblr-12479	361	21	across	across	ADP
cblr-12479	361	22	jurisdictions	jurisdiction	NOUN
cblr-12479	361	23	,	,	PUNCT
cblr-12479	361	24	which	which	PRON
cblr-12479	361	25	justifies	justify	VERB
cblr-12479	361	26	considering	consider	VERB
cblr-12479	361	27	them	they	PRON
cblr-12479	361	28	in	in	ADP
cblr-12479	361	29	more	more	ADJ
cblr-12479	361	30	detail	detail	NOUN
cblr-12479	361	31	.	.	PUNCT
cblr-12479	362	1	anti	anti	ADJ
cblr-12479	362	2	-	-	ADJ
cblr-12479	362	3	dilution	dilution	ADJ
cblr-12479	362	4	protections	protection	NOUN
cblr-12479	362	5	may	may	AUX
cblr-12479	362	6	be	be	AUX
cblr-12479	362	7	achieved	achieve	VERB
cblr-12479	362	8	in	in	ADP
cblr-12479	362	9	two	two	NUM
cblr-12479	362	10	ways	way	NOUN
cblr-12479	362	11	.	.	PUNCT
cblr-12479	363	1	one	one	NUM
cblr-12479	363	2	is	be	AUX
cblr-12479	363	3	through	through	ADP
cblr-12479	363	4	pre	pre	ADJ
cblr-12479	363	5	-	-	ADJ
cblr-12479	363	6	emptive	emptive	ADJ
cblr-12479	363	7	rights	right	NOUN
cblr-12479	363	8	or	or	CCONJ
cblr-12479	363	9	rights	right	NOUN
cblr-12479	363	10	of	of	ADP
cblr-12479	363	11	first	first	ADJ
cblr-12479	363	12	refusal	refusal	NOUN
cblr-12479	363	13	,	,	PUNCT
cblr-12479	363	14	which	which	PRON
cblr-12479	363	15	give	give	VERB
cblr-12479	363	16	holders	holder	NOUN
cblr-12479	363	17	of	of	ADP
cblr-12479	363	18	cps	cps	PROPN
cblr-12479	363	19	a	a	DET
cblr-12479	363	20	preferential	preferential	ADJ
cblr-12479	363	21	right	right	NOUN
cblr-12479	363	22	to	to	PART
cblr-12479	363	23	acquire	acquire	VERB
cblr-12479	363	24	shares	share	NOUN
cblr-12479	363	25	in	in	ADP
cblr-12479	363	26	new	new	ADJ
cblr-12479	363	27	issuances	issuance	NOUN
cblr-12479	363	28	,	,	PUNCT
cblr-12479	363	29	allowing	allow	VERB
cblr-12479	363	30	them	they	PRON
cblr-12479	363	31	to	to	PART
cblr-12479	363	32	protect	protect	VERB
cblr-12479	363	33	their	their	PRON
cblr-12479	363	34	proportion	proportion	NOUN
cblr-12479	363	35	of	of	ADP
cblr-12479	363	36	voting	voting	NOUN
cblr-12479	363	37	rights	right	NOUN
cblr-12479	363	38	and	and	CCONJ
cblr-12479	363	39	potentially	potentially	ADV
cblr-12479	363	40	their	their	PRON
cblr-12479	363	41	board	board	NOUN
cblr-12479	363	42	representation	representation	NOUN
cblr-12479	363	43	rights	right	NOUN
cblr-12479	363	44	if	if	SCONJ
cblr-12479	363	45	new	new	ADJ
cblr-12479	363	46	shares	share	NOUN
cblr-12479	363	47	are	be	AUX
cblr-12479	363	48	issued.120	issued.120	ADJ
cblr-12479	363	49	this	this	DET
cblr-12479	363	50	seemingly	seemingly	ADV
cblr-12479	363	51	uncontroversial	uncontroversial	ADJ
cblr-12479	363	52	protection	protection	NOUN
cblr-12479	363	53	may	may	AUX
cblr-12479	363	54	be	be	AUX
cblr-12479	363	55	unenforceable	unenforceable	ADJ
cblr-12479	363	56	if	if	SCONJ
cblr-12479	363	57	it	it	PRON
cblr-12479	363	58	establishes	establish	VERB
cblr-12479	363	59	that	that	SCONJ
cblr-12479	363	60	holders	holder	NOUN
cblr-12479	363	61	of	of	ADP
cblr-12479	363	62	cps	cps	PROPN
cblr-12479	363	63	would	would	AUX
cblr-12479	363	64	pay	pay	VERB
cblr-12479	363	65	a	a	DET
cblr-12479	363	66	lower	low	ADJ
cblr-12479	363	67	price	price	NOUN
cblr-12479	363	68	than	than	SCONJ
cblr-12479	363	69	that	that	PRON
cblr-12479	363	70	agreed	agree	VERB
cblr-12479	363	71	with	with	ADP
cblr-12479	363	72	the	the	DET
cblr-12479	363	73	new	new	ADJ
cblr-12479	363	74	investors,121	investors,121	ADJ
cblr-12479	363	75	and	and	CCONJ
cblr-12479	363	76	in	in	ADP
cblr-12479	363	77	any	any	DET
cblr-12479	363	78	case	case	NOUN
cblr-12479	363	79	may	may	AUX
cblr-12479	363	80	be	be	AUX
cblr-12479	363	81	less	less	ADV
cblr-12479	363	82	appealing	appealing	ADJ
cblr-12479	363	83	if	if	SCONJ
cblr-12479	363	84	it	it	PRON
cblr-12479	363	85	requires	require	VERB
cblr-12479	363	86	an	an	DET
cblr-12479	363	87	additional	additional	ADJ
cblr-12479	363	88	payment	payment	NOUN
cblr-12479	363	89	from	from	ADP
cblr-12479	363	90	the	the	DET
cblr-12479	363	91	117	117	NUM
cblr-12479	363	92	see	see	NOUN
cblr-12479	363	93	generally	generally	ADV
cblr-12479	363	94	bratton	bratton	PROPN
cblr-12479	363	95	&	&	CCONJ
cblr-12479	363	96	wachter	wachter	PROPN
cblr-12479	363	97	,	,	PUNCT
cblr-12479	363	98	supra	supra	PROPN
cblr-12479	363	99	note	note	NOUN
cblr-12479	363	100	91	91	NUM
cblr-12479	363	101	.	.	PUNCT
cblr-12479	364	1	118	118	NUM
cblr-12479	364	2	see	see	VERB
cblr-12479	364	3	marcel	marcel	PROPN
cblr-12479	364	4	kahan	kahan	PROPN
cblr-12479	364	5	,	,	PUNCT
cblr-12479	364	6	anti	anti	ADJ
cblr-12479	364	7	-	-	ADJ
cblr-12479	364	8	dilution	dilution	ADJ
cblr-12479	364	9	provisions	provision	NOUN
cblr-12479	364	10	in	in	ADP
cblr-12479	364	11	convertible	convertible	ADJ
cblr-12479	364	12	securities	security	NOUN
cblr-12479	364	13	features	feature	NOUN
cblr-12479	364	14	,	,	PUNCT
cblr-12479	364	15	2	2	NUM
cblr-12479	364	16	stan	stan	NOUN
cblr-12479	364	17	.	.	PUNCT
cblr-12479	365	1	j.l	j.l	PROPN
cblr-12479	365	2	.	.	PROPN
cblr-12479	365	3	bus	bus	PROPN
cblr-12479	365	4	.	.	PUNCT
cblr-12479	365	5	&	&	CCONJ
cblr-12479	365	6	fin	fin	PROPN
cblr-12479	365	7	.	.	PUNCT
cblr-12479	366	1	147	147	NUM
cblr-12479	366	2	(	(	PUNCT
cblr-12479	366	3	1995	1995	NUM
cblr-12479	366	4	)	)	PUNCT
cblr-12479	366	5	;	;	PUNCT
cblr-12479	366	6	and	and	CCONJ
cblr-12479	366	7	michael	michael	PROPN
cblr-12479	366	8	a.	a.	PROPN
cblr-12479	366	9	woronoff	woronoff	PROPN
cblr-12479	366	10	&	&	CCONJ
cblr-12479	366	11	jonathan	jonathan	PROPN
cblr-12479	366	12	a.	a.	PROPN
cblr-12479	366	13	rosen	rosen	PROPN
cblr-12479	366	14	,	,	PUNCT
cblr-12479	366	15	understanding	understand	VERB
cblr-12479	366	16	anti	anti	ADJ
cblr-12479	366	17	-	-	ADJ
cblr-12479	366	18	dilution	dilution	ADJ
cblr-12479	366	19	provisions	provision	NOUN
cblr-12479	366	20	in	in	ADP
cblr-12479	366	21	convertible	convertible	ADJ
cblr-12479	366	22	securities	security	NOUN
cblr-12479	366	23	,	,	PUNCT
cblr-12479	366	24	74	74	NUM
cblr-12479	366	25	fordham	fordham	PROPN
cblr-12479	366	26	l.	l.	PROPN
cblr-12479	366	27	rev	rev	PROPN
cblr-12479	366	28	.	.	PROPN
cblr-12479	366	29	129	129	NUM
cblr-12479	366	30	(	(	PUNCT
cblr-12479	366	31	2005	2005	NUM
cblr-12479	366	32	)	)	PUNCT
cblr-12479	366	33	.	.	PUNCT
cblr-12479	367	1	119	119	NUM
cblr-12479	367	2	hellmann	hellmann	PROPN
cblr-12479	367	3	,	,	PUNCT
cblr-12479	367	4	supra	supra	PROPN
cblr-12479	367	5	note	note	PROPN
cblr-12479	367	6	53	53	NUM
cblr-12479	367	7	.	.	PUNCT
cblr-12479	367	8	120	120	NUM
cblr-12479	367	9	george	george	PROPN
cblr-12479	367	10	g.	g.	PROPN
cblr-12479	367	11	triantis	triantis	PROPN
cblr-12479	367	12	,	,	PUNCT
cblr-12479	367	13	financial	financial	ADJ
cblr-12479	367	14	contract	contract	NOUN
cblr-12479	367	15	design	design	NOUN
cblr-12479	367	16	in	in	ADP
cblr-12479	367	17	the	the	DET
cblr-12479	367	18	world	world	NOUN
cblr-12479	367	19	of	of	ADP
cblr-12479	367	20	venture	venture	NOUN
cblr-12479	367	21	capital	capital	NOUN
cblr-12479	367	22	,	,	PUNCT
cblr-12479	367	23	68	68	NUM
cblr-12479	367	24	u.	u.	NOUN
cblr-12479	367	25	chi	chi	PROPN
cblr-12479	367	26	.	.	PUNCT
cblr-12479	368	1	l.	l.	PROPN
cblr-12479	368	2	rev	rev	PROPN
cblr-12479	368	3	.	.	PROPN
cblr-12479	368	4	305	305	NUM
cblr-12479	368	5	,	,	PUNCT
cblr-12479	368	6	312	312	NUM
cblr-12479	368	7	(	(	PUNCT
cblr-12479	368	8	2001	2001	NUM
cblr-12479	368	9	)	)	PUNCT
cblr-12479	368	10	.	.	PUNCT
cblr-12479	369	1	121	121	NUM
cblr-12479	369	2	peter	peter	PROPN
cblr-12479	369	3	agstner	agstner	NOUN
cblr-12479	369	4	,	,	PUNCT
cblr-12479	369	5	shareholder	shareholder	NOUN
cblr-12479	369	6	conflicts	conflict	NOUN
cblr-12479	369	7	in	in	ADP
cblr-12479	369	8	close	close	ADJ
cblr-12479	369	9	corporations	corporation	NOUN
cblr-12479	369	10	between	between	ADP
cblr-12479	369	11	theory	theory	NOUN
cblr-12479	369	12	and	and	CCONJ
cblr-12479	369	13	practice	practice	NOUN
cblr-12479	369	14	:	:	PUNCT
cblr-12479	369	15	evidence	evidence	NOUN
cblr-12479	369	16	from	from	ADP
cblr-12479	369	17	italian	italian	ADJ
cblr-12479	369	18	private	private	ADJ
cblr-12479	369	19	limited	limited	ADJ
cblr-12479	369	20	liability	liability	NOUN
cblr-12479	369	21	companies	company	NOUN
cblr-12479	369	22	,	,	PUNCT
cblr-12479	369	23	21	21	NUM
cblr-12479	369	24	eur	eur	NOUN
cblr-12479	369	25	.	.	PUNCT
cblr-12479	370	1	bus	bus	NOUN
cblr-12479	370	2	.	.	PUNCT
cblr-12479	371	1	org	org	PROPN
cblr-12479	371	2	.	.	PUNCT
cblr-12479	372	1	l.	l.	PROPN
cblr-12479	372	2	rev	rev	PROPN
cblr-12479	372	3	.	.	PROPN
cblr-12479	372	4	505	505	NUM
cblr-12479	372	5	,	,	PUNCT
cblr-12479	372	6	514	514	NUM
cblr-12479	372	7	(	(	PUNCT
cblr-12479	372	8	2020	2020	NUM
cblr-12479	372	9	)	)	PUNCT
cblr-12479	372	10	(	(	PUNCT
cblr-12479	372	11	“	"	PUNCT
cblr-12479	372	12	[	[	X
cblr-12479	372	13	r]ights	r]ight	NOUN
cblr-12479	372	14	of	of	ADP
cblr-12479	372	15	first	first	ADJ
cblr-12479	372	16	refusal	refusal	NOUN
cblr-12479	372	17	or	or	CCONJ
cblr-12479	372	18	post	post	ADJ
cblr-12479	372	19	-	-	ADJ
cblr-12479	372	20	sale	sale	ADJ
cblr-12479	372	21	purchase	purchase	NOUN
cblr-12479	372	22	rights	right	NOUN
cblr-12479	372	23	must	must	AUX
cblr-12479	372	24	be	be	AUX
cblr-12479	372	25	structured	structure	VERB
cblr-12479	372	26	in	in	ADP
cblr-12479	372	27	such	such	DET
cblr-12479	372	28	a	a	DET
cblr-12479	372	29	way	way	NOUN
cblr-12479	372	30	that	that	PRON
cblr-12479	372	31	the	the	DET
cblr-12479	372	32	respective	respective	ADJ
cblr-12479	372	33	holder	holder	NOUN
cblr-12479	372	34	is	be	AUX
cblr-12479	372	35	not	not	PART
cblr-12479	372	36	allowed	allow	VERB
cblr-12479	372	37	to	to	PART
cblr-12479	372	38	purchase	purchase	VERB
cblr-12479	372	39	the	the	DET
cblr-12479	372	40	shares	share	NOUN
cblr-12479	372	41	at	at	ADP
cblr-12479	372	42	a	a	DET
cblr-12479	372	43	price	price	NOUN
cblr-12479	372	44	that	that	PRON
cblr-12479	372	45	is	be	AUX
cblr-12479	372	46	different	different	ADJ
cblr-12479	372	47	from	from	ADP
cblr-12479	372	48	the	the	DET
cblr-12479	372	49	appraised	appraise	VERB
cblr-12479	372	50	value	value	NOUN
cblr-12479	372	51	attainable	attainable	ADJ
cblr-12479	372	52	in	in	ADP
cblr-12479	372	53	case	case	NOUN
cblr-12479	372	54	of	of	ADP
cblr-12479	372	55	withdrawal	withdrawal	NOUN
cblr-12479	372	56	[	[	X
cblr-12479	372	57	art	art	NOUN
cblr-12479	372	58	.	.	PUNCT
cblr-12479	373	1	2473(3	2473(3	X
cblr-12479	373	2	)	)	PUNCT
cblr-12479	373	3	c.c	c.c	PROPN
cblr-12479	373	4	.	.	PROPN
cblr-12479	373	5	]	]	PUNCT
cblr-12479	373	6	.	.	PUNCT
cblr-12479	374	1	for	for	ADP
cblr-12479	374	2	this	this	DET
cblr-12479	374	3	reason	reason	NOUN
cblr-12479	374	4	,	,	PUNCT
cblr-12479	374	5	a	a	DET
cblr-12479	374	6	so	so	ADV
cblr-12479	374	7	-	-	PUNCT
cblr-12479	374	8	called	call	VERB
cblr-12479	374	9	improper	improper	ADJ
cblr-12479	374	10	right	right	NOUN
cblr-12479	374	11	of	of	ADP
cblr-12479	374	12	first	first	ADJ
cblr-12479	374	13	refusal	refusal	NOUN
cblr-12479	374	14	is	be	AUX
cblr-12479	374	15	deemed	deem	VERB
cblr-12479	374	16	invalid	invalid	ADJ
cblr-12479	374	17	if	if	SCONJ
cblr-12479	374	18	the	the	DET
cblr-12479	374	19	continuing	continue	VERB
cblr-12479	374	20	members	member	NOUN
cblr-12479	374	21	may	may	AUX
cblr-12479	374	22	purchase	purchase	VERB
cblr-12479	374	23	the	the	DET
cblr-12479	374	24	offered	offer	VERB
cblr-12479	374	25	shares	share	NOUN
cblr-12479	374	26	not	not	PART
cblr-12479	374	27	only	only	ADV
cblr-12479	374	28	at	at	ADP
cblr-12479	374	29	a	a	DET
cblr-12479	374	30	price	price	NOUN
cblr-12479	374	31	below	below	ADP
cblr-12479	374	32	the	the	DET
cblr-12479	374	33	one	one	NOUN
cblr-12479	374	34	proposed	propose	VERB
cblr-12479	374	35	by	by	ADP
cblr-12479	374	36	the	the	DET
cblr-12479	374	37	third	third	ADJ
cblr-12479	374	38	party	party	NOUN
cblr-12479	374	39	—	—	PUNCT
cblr-12479	374	40	in	in	X
cblr-12479	374	41	se	se	X
cblr-12479	374	42	legitimate	legitimate	ADJ
cblr-12479	374	43	—	—	PUNCT
cblr-12479	374	44	but	but	CCONJ
cblr-12479	374	45	even	even	ADV
cblr-12479	374	46	significantly	significantly	ADV
cblr-12479	374	47	below	below	ADP
cblr-12479	374	48	the	the	DET
cblr-12479	374	49	above	above	ADV
cblr-12479	374	50	-	-	PUNCT
cblr-12479	374	51	mentioned	mention	VERB
cblr-12479	374	52	fair	fair	ADJ
cblr-12479	374	53	value	value	NOUN
cblr-12479	374	54	.	.	PUNCT
cblr-12479	374	55	”	"	PUNCT
cblr-12479	374	56	)	)	PUNCT
cblr-12479	374	57	.	.	PUNCT
cblr-12479	375	1	706	706	NUM
cblr-12479	375	2	columbia	columbia	PROPN
cblr-12479	375	3	business	business	NOUN
cblr-12479	375	4	law	law	PROPN
cblr-12479	375	5	review	review	NOUN
cblr-12479	375	6	[	[	X
cblr-12479	375	7	vol	vol	NOUN
cblr-12479	375	8	.	.	PUNCT
cblr-12479	375	9	2023	2023	NUM
cblr-12479	375	10	investor	investor	NOUN
cblr-12479	375	11	seeking	seek	VERB
cblr-12479	375	12	protection	protection	NOUN
cblr-12479	375	13	.	.	PUNCT
cblr-12479	376	1	a	a	DET
cblr-12479	376	2	stronger	strong	ADJ
cblr-12479	376	3	and	and	CCONJ
cblr-12479	376	4	more	more	ADV
cblr-12479	376	5	common	common	ADJ
cblr-12479	376	6	anti	anti	ADJ
cblr-12479	376	7	-	-	ADJ
cblr-12479	376	8	dilution	dilution	ADJ
cblr-12479	376	9	protection	protection	NOUN
cblr-12479	376	10	is	be	AUX
cblr-12479	376	11	triggered	trigger	VERB
cblr-12479	376	12	by	by	ADP
cblr-12479	376	13	a	a	DET
cblr-12479	376	14	lower	low	ADJ
cblr-12479	376	15	valuation	valuation	NOUN
cblr-12479	376	16	financing	financing	NOUN
cblr-12479	376	17	.	.	PUNCT
cblr-12479	377	1	in	in	ADP
cblr-12479	377	2	those	those	DET
cblr-12479	377	3	cases	case	NOUN
cblr-12479	377	4	of	of	ADP
cblr-12479	377	5	startup	startup	ADJ
cblr-12479	377	6	underperformance	underperformance	NOUN
cblr-12479	377	7	,	,	PUNCT
cblr-12479	377	8	holders	holder	NOUN
cblr-12479	377	9	of	of	ADP
cblr-12479	377	10	cps	cps	PROPN
cblr-12479	377	11	could	could	AUX
cblr-12479	377	12	have	have	VERB
cblr-12479	377	13	the	the	DET
cblr-12479	377	14	right	right	NOUN
cblr-12479	377	15	to	to	PART
cblr-12479	377	16	adjust	adjust	VERB
cblr-12479	377	17	the	the	DET
cblr-12479	377	18	conversion	conversion	NOUN
cblr-12479	377	19	price	price	NOUN
cblr-12479	377	20	and	and	CCONJ
cblr-12479	377	21	eventually	eventually	ADV
cblr-12479	377	22	get	get	VERB
cblr-12479	377	23	a	a	DET
cblr-12479	377	24	greater	great	ADJ
cblr-12479	377	25	number	number	NOUN
cblr-12479	377	26	of	of	ADP
cblr-12479	377	27	common	common	ADJ
cblr-12479	377	28	shares	share	NOUN
cblr-12479	377	29	when	when	SCONJ
cblr-12479	377	30	they	they	PRON
cblr-12479	377	31	decide	decide	VERB
cblr-12479	377	32	to	to	PART
cblr-12479	377	33	convert.122	convert.122	VERB
cblr-12479	377	34	the	the	DET
cblr-12479	377	35	efficacy	efficacy	NOUN
cblr-12479	377	36	of	of	ADP
cblr-12479	377	37	this	this	DET
cblr-12479	377	38	strategy	strategy	NOUN
cblr-12479	377	39	,	,	PUNCT
cblr-12479	377	40	however	however	ADV
cblr-12479	377	41	,	,	PUNCT
cblr-12479	377	42	rests	rest	VERB
cblr-12479	377	43	on	on	ADP
cblr-12479	377	44	the	the	DET
cblr-12479	377	45	possibility	possibility	NOUN
cblr-12479	377	46	to	to	PART
cblr-12479	377	47	create	create	VERB
cblr-12479	377	48	and	and	CCONJ
cblr-12479	377	49	enforce	enforce	VERB
cblr-12479	377	50	automatic	automatic	ADJ
cblr-12479	377	51	conversion	conversion	NOUN
cblr-12479	377	52	rights	right	NOUN
cblr-12479	377	53	,	,	PUNCT
cblr-12479	377	54	which	which	PRON
cblr-12479	377	55	should	should	AUX
cblr-12479	377	56	not	not	PART
cblr-12479	377	57	be	be	AUX
cblr-12479	377	58	assumed	assume	VERB
cblr-12479	377	59	.	.	PUNCT
cblr-12479	378	1	automatic	automatic	ADJ
cblr-12479	378	2	conversion	conversion	NOUN
cblr-12479	378	3	is	be	AUX
cblr-12479	378	4	,	,	PUNCT
cblr-12479	378	5	in	in	ADP
cblr-12479	378	6	fact	fact	NOUN
cblr-12479	378	7	,	,	PUNCT
cblr-12479	378	8	a	a	DET
cblr-12479	378	9	problematic	problematic	ADJ
cblr-12479	378	10	element	element	NOUN
cblr-12479	378	11	.	.	PUNCT
cblr-12479	379	1	generally	generally	ADV
cblr-12479	379	2	,	,	PUNCT
cblr-12479	379	3	it	it	PRON
cblr-12479	379	4	implies	imply	VERB
cblr-12479	379	5	an	an	DET
cblr-12479	379	6	obligation	obligation	NOUN
cblr-12479	379	7	of	of	ADP
cblr-12479	379	8	the	the	DET
cblr-12479	379	9	company	company	NOUN
cblr-12479	379	10	to	to	PART
cblr-12479	379	11	have	have	AUX
cblr-12479	379	12	a	a	DET
cblr-12479	379	13	pool	pool	NOUN
cblr-12479	379	14	of	of	ADP
cblr-12479	379	15	common	common	ADJ
cblr-12479	379	16	shares	share	NOUN
cblr-12479	379	17	to	to	ADP
cblr-12479	379	18	exchange.123	exchange.123	PROPN
cblr-12479	379	19	in	in	ADP
cblr-12479	379	20	jurisdictions	jurisdiction	NOUN
cblr-12479	379	21	where	where	SCONJ
cblr-12479	379	22	preferred	preferred	ADJ
cblr-12479	379	23	shares	share	NOUN
cblr-12479	379	24	can	can	AUX
cblr-12479	379	25	only	only	ADV
cblr-12479	379	26	have	have	VERB
cblr-12479	379	27	preferential	preferential	ADJ
cblr-12479	379	28	rights	right	NOUN
cblr-12479	379	29	to	to	ADP
cblr-12479	379	30	cash	cash	NOUN
cblr-12479	379	31	flow	flow	NOUN
cblr-12479	379	32	or	or	CCONJ
cblr-12479	379	33	voting	voting	NOUN
cblr-12479	379	34	rights	right	NOUN
cblr-12479	379	35	(	(	PUNCT
cblr-12479	379	36	and	and	CCONJ
cblr-12479	379	37	not	not	PART
cblr-12479	379	38	both	both	PRON
cblr-12479	379	39	)	)	PUNCT
cblr-12479	379	40	,	,	PUNCT
cblr-12479	379	41	this	this	DET
cblr-12479	379	42	expansive	expansive	ADJ
cblr-12479	379	43	provision	provision	NOUN
cblr-12479	379	44	tends	tend	VERB
cblr-12479	379	45	to	to	PART
cblr-12479	379	46	be	be	AUX
cblr-12479	379	47	explicitly	explicitly	ADV
cblr-12479	379	48	prohibited	prohibit	VERB
cblr-12479	379	49	(	(	PUNCT
cblr-12479	379	50	e.g.	e.g.	ADV
cblr-12479	379	51	,	,	PUNCT
cblr-12479	379	52	in	in	ADP
cblr-12479	379	53	china).124	china).124	PROPN
cblr-12479	379	54	less	less	ADV
cblr-12479	379	55	strict	strict	ADJ
cblr-12479	379	56	limits	limit	NOUN
cblr-12479	379	57	might	might	AUX
cblr-12479	379	58	also	also	ADV
cblr-12479	379	59	derive	derive	VERB
cblr-12479	379	60	from	from	ADP
cblr-12479	379	61	widespread	widespread	ADJ
cblr-12479	379	62	rules	rule	NOUN
cblr-12479	379	63	capping	cap	VERB
cblr-12479	379	64	the	the	DET
cblr-12479	379	65	percentage	percentage	NOUN
cblr-12479	379	66	of	of	ADP
cblr-12479	379	67	authorized	authorized	ADJ
cblr-12479	379	68	shares	share	NOUN
cblr-12479	379	69	that	that	PRON
cblr-12479	379	70	the	the	DET
cblr-12479	379	71	board	board	NOUN
cblr-12479	379	72	can	can	AUX
cblr-12479	379	73	issue	issue	VERB
cblr-12479	379	74	to	to	PART
cblr-12479	379	75	comply	comply	VERB
cblr-12479	379	76	with	with	ADP
cblr-12479	379	77	conversion	conversion	NOUN
cblr-12479	379	78	obligations	obligation	NOUN
cblr-12479	379	79	or	or	CCONJ
cblr-12479	379	80	imposing	impose	VERB
cblr-12479	379	81	temporal	temporal	ADJ
cblr-12479	379	82	restrictions	restriction	NOUN
cblr-12479	379	83	to	to	ADP
cblr-12479	379	84	that	that	DET
cblr-12479	379	85	authority	authority	NOUN
cblr-12479	379	86	,	,	PUNCT
cblr-12479	379	87	as	as	SCONJ
cblr-12479	379	88	in	in	ADP
cblr-12479	379	89	those	those	DET
cblr-12479	379	90	cases	case	NOUN
cblr-12479	379	91	new	new	ADJ
cblr-12479	379	92	issuances	issuance	NOUN
cblr-12479	379	93	would	would	AUX
cblr-12479	379	94	have	have	VERB
cblr-12479	379	95	to	to	PART
cblr-12479	379	96	be	be	AUX
cblr-12479	379	97	approved	approve	VERB
cblr-12479	379	98	by	by	ADP
cblr-12479	379	99	all	all	DET
cblr-12479	379	100	shareholders.125	shareholders.125	PROPN
cblr-12479	379	101	c.	c.	PROPN
cblr-12479	379	102	shareholders	shareholder	NOUN
cblr-12479	379	103	’	'	PUNCT
cblr-12479	379	104	agreements	agreement	NOUN
cblr-12479	379	105	because	because	SCONJ
cblr-12479	379	106	of	of	ADP
cblr-12479	379	107	the	the	DET
cblr-12479	379	108	difficulties	difficulty	NOUN
cblr-12479	379	109	of	of	ADP
cblr-12479	379	110	structuring	structure	VERB
cblr-12479	379	111	contingent	contingent	ADJ
cblr-12479	379	112	control	control	NOUN
cblr-12479	379	113	through	through	ADP
cblr-12479	379	114	customized	customized	ADJ
cblr-12479	379	115	shares	share	NOUN
cblr-12479	379	116	,	,	PUNCT
cblr-12479	379	117	participants	participant	NOUN
cblr-12479	379	118	may	may	AUX
cblr-12479	379	119	(	(	PUNCT
cblr-12479	379	120	and	and	CCONJ
cblr-12479	379	121	often	often	ADV
cblr-12479	379	122	do	do	AUX
cblr-12479	379	123	)	)	PUNCT
cblr-12479	379	124	resort	resort	VERB
cblr-12479	379	125	to	to	ADP
cblr-12479	379	126	shareholders	shareholder	NOUN
cblr-12479	379	127	’	'	PUNCT
cblr-12479	379	128	agreements	agreement	NOUN
cblr-12479	379	129	and	and	CCONJ
cblr-12479	379	130	narrower	narrow	ADJ
cblr-12479	379	131	contracts	contract	NOUN
cblr-12479	379	132	,	,	PUNCT
cblr-12479	379	133	such	such	ADJ
cblr-12479	379	134	as	as	ADP
cblr-12479	379	135	voting	vote	VERB
cblr-12479	379	136	agreements.126	agreements.126	NOUN
cblr-12479	379	137	these	these	DET
cblr-12479	379	138	agreements	agreement	NOUN
cblr-12479	379	139	can	can	AUX
cblr-12479	379	140	be	be	AUX
cblr-12479	379	141	used	use	VERB
cblr-12479	379	142	to	to	PART
cblr-12479	379	143	temporarily	temporarily	ADV
cblr-12479	379	144	dispossess	dispossess	VERB
cblr-12479	379	145	founders	founder	NOUN
cblr-12479	379	146	of	of	ADP
cblr-12479	379	147	control	control	NOUN
cblr-12479	379	148	.	.	PUNCT
cblr-12479	380	1	for	for	ADP
cblr-12479	380	2	example	example	NOUN
cblr-12479	380	3	,	,	PUNCT
cblr-12479	380	4	if	if	SCONJ
cblr-12479	380	5	a	a	DET
cblr-12479	380	6	significant	significant	ADJ
cblr-12479	380	7	proportion	proportion	NOUN
cblr-12479	380	8	(	(	PUNCT
cblr-12479	380	9	or	or	CCONJ
cblr-12479	380	10	all	all	PRON
cblr-12479	380	11	)	)	PUNCT
cblr-12479	380	12	of	of	ADP
cblr-12479	380	13	entrepreneurs	entrepreneur	NOUN
cblr-12479	380	14	’	'	PUNCT
cblr-12479	380	15	equity	equity	NOUN
cblr-12479	380	16	is	be	AUX
cblr-12479	380	17	122	122	NUM
cblr-12479	380	18	kahan	kahan	ADJ
cblr-12479	380	19	,	,	PUNCT
cblr-12479	380	20	supra	supra	PROPN
cblr-12479	380	21	note	note	NOUN
cblr-12479	380	22	118	118	NUM
cblr-12479	380	23	at	at	ADP
cblr-12479	380	24	159	159	NUM
cblr-12479	380	25	;	;	PUNCT
cblr-12479	380	26	woronoff	woronoff	PROPN
cblr-12479	380	27	&	&	CCONJ
cblr-12479	380	28	rosen	rosen	PROPN
cblr-12479	380	29	,	,	PUNCT
cblr-12479	380	30	supra	supra	PROPN
cblr-12479	380	31	note118	note118	PROPN
cblr-12479	380	32	.	.	PUNCT
cblr-12479	381	1	the	the	DET
cblr-12479	381	2	formula	formula	NOUN
cblr-12479	381	3	to	to	PART
cblr-12479	381	4	estimate	estimate	VERB
cblr-12479	381	5	the	the	DET
cblr-12479	381	6	price	price	NOUN
cblr-12479	381	7	would	would	AUX
cblr-12479	381	8	also	also	ADV
cblr-12479	381	9	determine	determine	VERB
cblr-12479	381	10	the	the	DET
cblr-12479	381	11	strength	strength	NOUN
cblr-12479	381	12	of	of	ADP
cblr-12479	381	13	this	this	DET
cblr-12479	381	14	protection	protection	NOUN
cblr-12479	381	15	.	.	PUNCT
cblr-12479	382	1	123	123	NUM
cblr-12479	382	2	buxbaum	buxbaum	NOUN
cblr-12479	382	3	,	,	PUNCT
cblr-12479	382	4	supra	supra	PROPN
cblr-12479	382	5	note	note	VERB
cblr-12479	382	6	101	101	NUM
cblr-12479	382	7	at	at	ADP
cblr-12479	382	8	281	281	NUM
cblr-12479	382	9	.	.	PUNCT
cblr-12479	383	1	124	124	NUM
cblr-12479	383	2	see	see	VERB
cblr-12479	383	3	dezan	dezan	PROPN
cblr-12479	383	4	shira	shira	PROPN
cblr-12479	383	5	&	&	CCONJ
cblr-12479	383	6	assocs	assocs	PROPN
cblr-12479	383	7	,	,	PUNCT
cblr-12479	383	8	china	china	PROPN
cblr-12479	383	9	introduces	introduce	NOUN
cblr-12479	383	10	pilot	pilot	NOUN
cblr-12479	383	11	program	program	NOUN
cblr-12479	383	12	for	for	ADP
cblr-12479	383	13	preferred	preferred	ADJ
cblr-12479	383	14	shareholders	shareholder	NOUN
cblr-12479	383	15	,	,	PUNCT
cblr-12479	383	16	china	china	PROPN
cblr-12479	383	17	briefing	briefing	PROPN
cblr-12479	383	18	(	(	PUNCT
cblr-12479	383	19	dec	dec	PROPN
cblr-12479	383	20	.	.	PROPN
cblr-12479	383	21	20	20	NUM
cblr-12479	383	22	,	,	PUNCT
cblr-12479	383	23	2013	2013	NUM
cblr-12479	383	24	)	)	PUNCT
cblr-12479	383	25	,	,	PUNCT
cblr-12479	383	26	https://www.chinabriefing.com/news/china-introduces-pilot-program-for-preferred-shares/	https://www.chinabriefing.com/news/china-introduces-pilot-program-for-preferred-shares/	NOUN
cblr-12479	384	1	[	[	X
cblr-12479	384	2	https://perma.cc/vy8l-tusl	https://perma.cc/vy8l-tusl	X
cblr-12479	384	3	]	]	X
cblr-12479	384	4	.	.	PUNCT
cblr-12479	385	1	see	see	VERB
cblr-12479	385	2	also	also	ADV
cblr-12479	385	3	supra	supra	PROPN
cblr-12479	385	4	section	section	PROPN
cblr-12479	385	5	iii.a	iii.a	PROPN
cblr-12479	385	6	.	.	NOUN
cblr-12479	386	1	125	125	NUM
cblr-12479	386	2	see	see	VERB
cblr-12479	386	3	supra	supra	PROPN
cblr-12479	386	4	section	section	PROPN
cblr-12479	386	5	iii.b.1	iii.b.1	PROPN
cblr-12479	386	6	.	.	PUNCT
cblr-12479	387	1	126	126	NUM
cblr-12479	387	2	see	see	VERB
cblr-12479	387	3	rauterberg	rauterberg	PROPN
cblr-12479	387	4	,	,	PUNCT
cblr-12479	387	5	supra	supra	PROPN
cblr-12479	387	6	note	note	NOUN
cblr-12479	387	7	20	20	NUM
cblr-12479	387	8	(	(	PUNCT
cblr-12479	387	9	presenting	present	VERB
cblr-12479	387	10	empirical	empirical	ADJ
cblr-12479	387	11	evidence	evidence	NOUN
cblr-12479	387	12	on	on	ADP
cblr-12479	387	13	how	how	SCONJ
cblr-12479	387	14	shareholder	shareholder	NOUN
cblr-12479	387	15	agreements	agreement	NOUN
cblr-12479	387	16	in	in	ADP
cblr-12479	387	17	the	the	DET
cblr-12479	387	18	united	united	PROPN
cblr-12479	387	19	states	states	PROPN
cblr-12479	387	20	are	be	AUX
cblr-12479	387	21	used	use	VERB
cblr-12479	387	22	to	to	PART
cblr-12479	387	23	distribute	distribute	VERB
cblr-12479	387	24	control	control	NOUN
cblr-12479	387	25	)	)	PUNCT
cblr-12479	387	26	.	.	PUNCT
cblr-12479	388	1	no	no	INTJ
cblr-12479	388	2	.	.	NOUN
cblr-12479	389	1	2	2	NUM
cblr-12479	389	2	]	]	PUNCT
cblr-12479	389	3	the	the	DET
cblr-12479	389	4	law	law	NOUN
cblr-12479	389	5	of	of	ADP
cblr-12479	389	6	contingent	contingent	ADJ
cblr-12479	389	7	control	control	NOUN
cblr-12479	389	8	707	707	NUM
cblr-12479	389	9	comprised	comprise	VERB
cblr-12479	389	10	of	of	ADP
cblr-12479	389	11	common	common	ADJ
cblr-12479	389	12	shares	share	NOUN
cblr-12479	389	13	,	,	PUNCT
cblr-12479	389	14	parties	party	NOUN
cblr-12479	389	15	can	can	AUX
cblr-12479	389	16	agree	agree	VERB
cblr-12479	389	17	that	that	SCONJ
cblr-12479	389	18	common	common	ADJ
cblr-12479	389	19	shareholders	shareholder	NOUN
cblr-12479	389	20	will	will	AUX
cblr-12479	389	21	abstain	abstain	VERB
cblr-12479	389	22	from	from	ADP
cblr-12479	389	23	voting	vote	VERB
cblr-12479	389	24	certain	certain	ADJ
cblr-12479	389	25	decisions	decision	NOUN
cblr-12479	389	26	or	or	CCONJ
cblr-12479	389	27	that	that	SCONJ
cblr-12479	389	28	their	their	PRON
cblr-12479	389	29	vote	vote	NOUN
cblr-12479	389	30	will	will	AUX
cblr-12479	389	31	align	align	VERB
cblr-12479	389	32	with	with	ADP
cblr-12479	389	33	cps	cps	PROPN
cblr-12479	389	34	holders	holder	NOUN
cblr-12479	389	35	(	(	PUNCT
cblr-12479	389	36	e.g.	e.g.	ADV
cblr-12479	389	37	,	,	PUNCT
cblr-12479	389	38	electing	elect	VERB
cblr-12479	389	39	a	a	DET
cblr-12479	389	40	director).127	director).127	NOUN
cblr-12479	389	41	shareholders	shareholder	NOUN
cblr-12479	389	42	’	'	PUNCT
cblr-12479	389	43	agreements	agreement	NOUN
cblr-12479	389	44	can	can	AUX
cblr-12479	389	45	also	also	ADV
cblr-12479	389	46	enable	enable	VERB
cblr-12479	389	47	cps	cp	NOUN
cblr-12479	389	48	holders	holder	NOUN
cblr-12479	389	49	’	'	PUNCT
cblr-12479	389	50	contingent	contingent	NOUN
cblr-12479	389	51	control	control	NOUN
cblr-12479	389	52	.	.	PUNCT
cblr-12479	390	1	for	for	ADP
cblr-12479	390	2	instance	instance	NOUN
cblr-12479	390	3	,	,	PUNCT
cblr-12479	390	4	they	they	PRON
cblr-12479	390	5	may	may	AUX
cblr-12479	390	6	provide	provide	VERB
cblr-12479	390	7	that	that	SCONJ
cblr-12479	390	8	all	all	DET
cblr-12479	390	9	parties	party	NOUN
cblr-12479	390	10	will	will	AUX
cblr-12479	390	11	approve	approve	VERB
cblr-12479	390	12	the	the	DET
cblr-12479	390	13	nomination	nomination	NOUN
cblr-12479	390	14	and	and	CCONJ
cblr-12479	390	15	election	election	NOUN
cblr-12479	390	16	of	of	ADP
cblr-12479	390	17	a	a	DET
cblr-12479	390	18	board	board	NOUN
cblr-12479	390	19	member	member	NOUN
cblr-12479	390	20	proposed	propose	VERB
cblr-12479	390	21	by	by	ADP
cblr-12479	390	22	some	some	DET
cblr-12479	390	23	shareholders	shareholder	NOUN
cblr-12479	390	24	(	(	PUNCT
cblr-12479	390	25	e.g.	e.g.	ADV
cblr-12479	390	26	,	,	PUNCT
cblr-12479	390	27	holders	holder	NOUN
cblr-12479	390	28	of	of	ADP
cblr-12479	390	29	cps	cps	PROPN
cblr-12479	390	30	)	)	PUNCT
cblr-12479	390	31	,	,	PUNCT
cblr-12479	390	32	128	128	NUM
cblr-12479	390	33	or	or	CCONJ
cblr-12479	390	34	give	give	VERB
cblr-12479	390	35	holders	holder	NOUN
cblr-12479	390	36	of	of	ADP
cblr-12479	390	37	cps	cps	PROPN
cblr-12479	390	38	the	the	DET
cblr-12479	390	39	right	right	NOUN
cblr-12479	390	40	to	to	PART
cblr-12479	390	41	force	force	VERB
cblr-12479	390	42	all	all	DET
cblr-12479	390	43	other	other	ADJ
cblr-12479	390	44	shareholders	shareholder	NOUN
cblr-12479	390	45	to	to	PART
cblr-12479	390	46	join	join	VERB
cblr-12479	390	47	them	they	PRON
cblr-12479	390	48	in	in	ADP
cblr-12479	390	49	selling	sell	VERB
cblr-12479	390	50	their	their	PRON
cblr-12479	390	51	shares	share	NOUN
cblr-12479	390	52	(	(	PUNCT
cblr-12479	390	53	so	so	ADV
cblr-12479	390	54	-	-	PUNCT
cblr-12479	390	55	called	call	VERB
cblr-12479	390	56	drag	drag	NOUN
cblr-12479	390	57	-	-	PUNCT
cblr-12479	390	58	along	along	ADP
cblr-12479	390	59	rights).129	rights).129	PROPN
cblr-12479	390	60	in	in	ADP
cblr-12479	390	61	turn	turn	NOUN
cblr-12479	390	62	,	,	PUNCT
cblr-12479	390	63	these	these	DET
cblr-12479	390	64	contractual	contractual	ADJ
cblr-12479	390	65	rights	right	NOUN
cblr-12479	390	66	and	and	CCONJ
cblr-12479	390	67	obligations	obligation	NOUN
cblr-12479	390	68	can	can	AUX
cblr-12479	390	69	be	be	AUX
cblr-12479	390	70	subjected	subject	VERB
cblr-12479	390	71	to	to	ADP
cblr-12479	390	72	performance	performance	NOUN
cblr-12479	390	73	measures	measure	NOUN
cblr-12479	390	74	that	that	PRON
cblr-12479	390	75	,	,	PUNCT
cblr-12479	390	76	in	in	ADP
cblr-12479	390	77	practice	practice	NOUN
cblr-12479	390	78	,	,	PUNCT
cblr-12479	390	79	make	make	VERB
cblr-12479	390	80	control	control	NOUN
cblr-12479	390	81	contingent	contingent	NOUN
cblr-12479	390	82	.	.	PUNCT
cblr-12479	391	1	whilst	whilst	SCONJ
cblr-12479	391	2	shareholders	shareholder	NOUN
cblr-12479	391	3	’	'	PUNCT
cblr-12479	391	4	agreements	agreement	NOUN
cblr-12479	391	5	could	could	AUX
cblr-12479	391	6	strengthen	strengthen	VERB
cblr-12479	391	7	or	or	CCONJ
cblr-12479	391	8	even	even	ADV
cblr-12479	391	9	substitute	substitute	NOUN
cblr-12479	391	10	bespoke	bespoke	NOUN
cblr-12479	391	11	securities	security	NOUN
cblr-12479	391	12	in	in	ADP
cblr-12479	391	13	the	the	DET
cblr-12479	391	14	structure	structure	NOUN
cblr-12479	391	15	of	of	ADP
cblr-12479	391	16	contingent	contingent	ADJ
cblr-12479	391	17	control	control	NOUN
cblr-12479	391	18	,	,	PUNCT
cblr-12479	391	19	allocating	allocate	VERB
cblr-12479	391	20	decision	decision	NOUN
cblr-12479	391	21	-	-	PUNCT
cblr-12479	391	22	making	make	VERB
cblr-12479	391	23	rights	right	NOUN
cblr-12479	391	24	through	through	ADP
cblr-12479	391	25	contract	contract	NOUN
cblr-12479	391	26	is	be	AUX
cblr-12479	391	27	not	not	PART
cblr-12479	391	28	free	free	ADJ
cblr-12479	391	29	of	of	ADP
cblr-12479	391	30	challenge	challenge	NOUN
cblr-12479	391	31	and	and	CCONJ
cblr-12479	391	32	might	might	AUX
cblr-12479	391	33	even	even	ADV
cblr-12479	391	34	be	be	AUX
cblr-12479	391	35	undesirable	undesirable	ADJ
cblr-12479	391	36	.	.	PUNCT
cblr-12479	392	1	because	because	SCONJ
cblr-12479	392	2	contracts	contract	NOUN
cblr-12479	392	3	only	only	ADV
cblr-12479	392	4	bind	bind	VERB
cblr-12479	392	5	their	their	PRON
cblr-12479	392	6	signatories	signatory	NOUN
cblr-12479	392	7	,	,	PUNCT
cblr-12479	392	8	corporate	corporate	ADJ
cblr-12479	392	9	officers	officer	NOUN
cblr-12479	392	10	and	and	CCONJ
cblr-12479	392	11	directors	director	NOUN
cblr-12479	392	12	are	be	AUX
cblr-12479	392	13	not	not	PART
cblr-12479	392	14	obliged	oblige	VERB
cblr-12479	392	15	to	to	PART
cblr-12479	392	16	observe	observe	VERB
cblr-12479	392	17	or	or	CCONJ
cblr-12479	392	18	follow	follow	VERB
cblr-12479	392	19	them	they	PRON
cblr-12479	392	20	when	when	SCONJ
cblr-12479	392	21	counting	count	VERB
cblr-12479	392	22	shareholders	shareholder	NOUN
cblr-12479	392	23	’	'	PUNCT
cblr-12479	392	24	votes.130	votes.130	NOUN
cblr-12479	392	25	accordingly	accordingly	ADV
cblr-12479	392	26	,	,	PUNCT
cblr-12479	392	27	they	they	PRON
cblr-12479	392	28	could	could	AUX
cblr-12479	392	29	even	even	ADV
cblr-12479	392	30	127	127	NUM
cblr-12479	392	31	see	see	VERB
cblr-12479	392	32	,	,	PUNCT
cblr-12479	392	33	e.g.	e.g.	ADV
cblr-12479	392	34	,	,	PUNCT
cblr-12479	392	35	brit	brit	PROPN
cblr-12479	392	36	.	.	PUNCT
cblr-12479	393	1	venture	venture	NOUN
cblr-12479	393	2	cap	cap	NOUN
cblr-12479	393	3	.	.	PUNCT
cblr-12479	394	1	ass’n	ass’n	ADV
cblr-12479	394	2	,	,	PUNCT
cblr-12479	394	3	model	model	NOUN
cblr-12479	394	4	shareholders	shareholder	NOUN
cblr-12479	394	5	’	'	PUNCT
cblr-12479	394	6	agreement	agreement	NOUN
cblr-12479	394	7	,	,	PUNCT
cblr-12479	394	8	schedule	schedule	NOUN
cblr-12479	394	9	2	2	NUM
cblr-12479	394	10	(	(	PUNCT
cblr-12479	394	11	consent	consent	NOUN
cblr-12479	394	12	matters	matter	NOUN
cblr-12479	394	13	)	)	PUNCT
cblr-12479	394	14	,	,	PUNCT
cblr-12479	394	15	https://www.bvca.co.uk/policy/industry-guidance-standardiseddocuments/model-documents-for-early-stage-investments	https://www.bvca.co.uk/policy/industry-guidance-standardiseddocuments/model-documents-for-early-stage-investment	VERB
cblr-12479	395	1	[	[	X
cblr-12479	395	2	https://perma.cc/w4nn-vn9v	https://perma.cc/w4nn-vn9v	X
cblr-12479	395	3	]	]	X
cblr-12479	395	4	(	(	PUNCT
cblr-12479	395	5	download	download	NOUN
cblr-12479	395	6	model	model	PROPN
cblr-12479	395	7	shareholders	shareholder	NOUN
cblr-12479	395	8	’	'	PUNCT
cblr-12479	395	9	agreement	agreement	NOUN
cblr-12479	395	10	;	;	PUNCT
cblr-12479	395	11	scroll	scroll	NOUN
cblr-12479	395	12	to	to	PART
cblr-12479	395	13	schedule	schedule	VERB
cblr-12479	395	14	2	2	NUM
cblr-12479	395	15	on	on	ADP
cblr-12479	395	16	page	page	NOUN
cblr-12479	395	17	27	27	NUM
cblr-12479	395	18	)	)	PUNCT
cblr-12479	395	19	.	.	PUNCT
cblr-12479	396	1	128	128	NUM
cblr-12479	396	2	see	see	VERB
cblr-12479	396	3	,	,	PUNCT
cblr-12479	396	4	e.g.	e.g.	ADV
cblr-12479	396	5	,	,	PUNCT
cblr-12479	396	6	rauterberg	rauterberg	NOUN
cblr-12479	396	7	,	,	PUNCT
cblr-12479	396	8	supra	supra	PROPN
cblr-12479	396	9	note	note	NOUN
cblr-12479	396	10	20	20	NUM
cblr-12479	396	11	at	at	ADP
cblr-12479	396	12	1145	1145	NUM
cblr-12479	396	13	(	(	PUNCT
cblr-12479	396	14	noting	note	VERB
cblr-12479	396	15	that	that	SCONJ
cblr-12479	396	16	us	us	PROPN
cblr-12479	396	17	company	company	NOUN
cblr-12479	396	18	godaddy	godaddy	NOUN
cblr-12479	396	19	’s	’s	PART
cblr-12479	396	20	shareholder	shareholder	NOUN
cblr-12479	396	21	agreement	agreement	NOUN
cblr-12479	396	22	“	"	PUNCT
cblr-12479	396	23	includes	include	VERB
cblr-12479	396	24	governance	governance	NOUN
cblr-12479	396	25	provisions	provision	NOUN
cblr-12479	396	26	involving	involve	VERB
cblr-12479	396	27	three	three	NUM
cblr-12479	396	28	blockholders	blockholder	NOUN
cblr-12479	396	29	,	,	PUNCT
cblr-12479	396	30	kkr	kkr	PROPN
cblr-12479	396	31	,	,	PUNCT
cblr-12479	396	32	silver	silver	NOUN
cblr-12479	396	33	lake	lake	NOUN
cblr-12479	396	34	,	,	PUNCT
cblr-12479	396	35	and	and	CCONJ
cblr-12479	396	36	founder	founder	NOUN
cblr-12479	396	37	bob	bob	PROPN
cblr-12479	396	38	parsons	parsons	PROPN
cblr-12479	396	39	.	.	PUNCT
cblr-12479	396	40	.	.	PUNCT
cblr-12479	396	41	.	.	PUNCT
cblr-12479	397	1	[	[	X
cblr-12479	397	2	and	and	CCONJ
cblr-12479	397	3	]	]	PUNCT
cblr-12479	397	4	provides	provide	VERB
cblr-12479	397	5	.	.	PUNCT
cblr-12479	397	6	.	.	PUNCT
cblr-12479	397	7	.	.	PUNCT
cblr-12479	398	1	that	that	SCONJ
cblr-12479	398	2	all	all	DET
cblr-12479	398	3	three	three	NUM
cblr-12479	398	4	parties	party	NOUN
cblr-12479	398	5	will	will	AUX
cblr-12479	398	6	vote	vote	VERB
cblr-12479	398	7	for	for	ADP
cblr-12479	398	8	one	one	NUM
cblr-12479	398	9	another	another	PRON
cblr-12479	398	10	’s	’s	NOUN
cblr-12479	398	11	board	board	NOUN
cblr-12479	398	12	nominees	nominee	NOUN
cblr-12479	398	13	.	.	PUNCT
cblr-12479	399	1	moreover	moreover	ADV
cblr-12479	399	2	,	,	PUNCT
cblr-12479	399	3	none	none	NOUN
cblr-12479	399	4	of	of	ADP
cblr-12479	399	5	the	the	DET
cblr-12479	399	6	three	three	NUM
cblr-12479	399	7	shareholders	shareholder	NOUN
cblr-12479	399	8	can	can	AUX
cblr-12479	399	9	sell	sell	VERB
cblr-12479	399	10	their	their	PRON
cblr-12479	399	11	shares	share	NOUN
cblr-12479	399	12	without	without	ADP
cblr-12479	399	13	the	the	DET
cblr-12479	399	14	permission	permission	NOUN
cblr-12479	399	15	of	of	ADP
cblr-12479	399	16	both	both	CCONJ
cblr-12479	399	17	kkr	kkr	PROPN
cblr-12479	399	18	and	and	CCONJ
cblr-12479	399	19	silver	silver	PROPN
cblr-12479	399	20	lake	lake	NOUN
cblr-12479	399	21	.	.	PUNCT
cblr-12479	399	22	”	"	PUNCT
cblr-12479	399	23	)	)	PUNCT
cblr-12479	399	24	.	.	PUNCT
cblr-12479	400	1	129	129	NUM
cblr-12479	400	2	see	see	VERB
cblr-12479	400	3	,	,	PUNCT
cblr-12479	400	4	e.g.	e.g.	ADV
cblr-12479	400	5	,	,	PUNCT
cblr-12479	400	6	nat’l	nat’l	NOUN
cblr-12479	400	7	venture	venture	NOUN
cblr-12479	400	8	cap	cap	NOUN
cblr-12479	400	9	.	.	PUNCT
cblr-12479	401	1	ass’n	ass’n	ADV
cblr-12479	401	2	,	,	PUNCT
cblr-12479	401	3	model	model	NOUN
cblr-12479	401	4	voting	voting	NOUN
cblr-12479	401	5	agreement	agreement	NOUN
cblr-12479	401	6	,	,	PUNCT
cblr-12479	401	7	section	section	NOUN
cblr-12479	401	8	3	3	NUM
cblr-12479	401	9	(	(	PUNCT
cblr-12479	401	10	drag	drag	NOUN
cblr-12479	401	11	-	-	PUNCT
cblr-12479	401	12	along	along	NOUN
cblr-12479	401	13	right	right	NOUN
cblr-12479	401	14	)	)	PUNCT
cblr-12479	401	15	,	,	PUNCT
cblr-12479	401	16	https://nvca.org/model-legal-documents/	https://nvca.org/model-legal-documents/	NOUN
cblr-12479	402	1	[	[	X
cblr-12479	402	2	https://perma.cc/x8xr-m9js	https://perma.cc/x8xr-m9js	X
cblr-12479	402	3	]	]	X
cblr-12479	402	4	(	(	PUNCT
cblr-12479	402	5	scroll	scroll	VERB
cblr-12479	402	6	down	down	ADP
cblr-12479	402	7	and	and	CCONJ
cblr-12479	402	8	download	download	VERB
cblr-12479	402	9	voting	voting	NOUN
cblr-12479	402	10	agreement	agreement	NOUN
cblr-12479	402	11	;	;	PUNCT
cblr-12479	402	12	scroll	scroll	NOUN
cblr-12479	402	13	within	within	ADP
cblr-12479	402	14	voting	voting	NOUN
cblr-12479	402	15	agreement	agreement	NOUN
cblr-12479	402	16	to	to	PART
cblr-12479	402	17	section	section	VERB
cblr-12479	402	18	3	3	NUM
cblr-12479	402	19	on	on	ADP
cblr-12479	402	20	page	page	NOUN
cblr-12479	402	21	6	6	NUM
cblr-12479	402	22	)	)	PUNCT
cblr-12479	402	23	.	.	PUNCT
cblr-12479	403	1	130	130	NUM
cblr-12479	403	2	in	in	ADP
cblr-12479	403	3	some	some	DET
cblr-12479	403	4	jurisdictions	jurisdiction	NOUN
cblr-12479	403	5	,	,	PUNCT
cblr-12479	403	6	it	it	PRON
cblr-12479	403	7	is	be	AUX
cblr-12479	403	8	explicitly	explicitly	ADV
cblr-12479	403	9	stated	state	VERB
cblr-12479	403	10	in	in	ADP
cblr-12479	403	11	law	law	NOUN
cblr-12479	403	12	,	,	PUNCT
cblr-12479	403	13	as	as	ADP
cblr-12479	403	14	in	in	ADP
cblr-12479	403	15	portugal	portugal	PROPN
cblr-12479	403	16	.	.	PUNCT
cblr-12479	404	1	see	see	VERB
cblr-12479	404	2	código	código	PROPN
cblr-12479	404	3	das	das	PROPN
cblr-12479	404	4	sociedades	sociedades	PROPN
cblr-12479	404	5	comerciais	comerciais	PROPN
cblr-12479	405	1	[	[	X
cblr-12479	405	2	business	business	PROPN
cblr-12479	405	3	associations	association	NOUN
cblr-12479	405	4	code	code	PROPN
cblr-12479	405	5	]	]	PUNCT
cblr-12479	405	6	,	,	PUNCT
cblr-12479	405	7	art	art	NOUN
cblr-12479	405	8	.	.	PUNCT
cblr-12479	406	1	17	17	NUM
cblr-12479	406	2	,	,	PUNCT
cblr-12479	406	3	no	no	INTJ
cblr-12479	406	4	.	.	NOUN
cblr-12479	406	5	262	262	NUM
cblr-12479	406	6	(	(	PUNCT
cblr-12479	406	7	1986	1986	NUM
cblr-12479	406	8	)	)	PUNCT
cblr-12479	406	9	.	.	PUNCT
cblr-12479	407	1	similarly	similarly	ADV
cblr-12479	407	2	,	,	PUNCT
cblr-12479	407	3	article	article	NOUN
cblr-12479	407	4	82	82	NUM
cblr-12479	407	5	of	of	ADP
cblr-12479	407	6	the	the	DET
cblr-12479	407	7	danish	danish	ADJ
cblr-12479	407	8	companies	company	NOUN
cblr-12479	407	9	act	act	VERB
cblr-12479	407	10	explicitly	explicitly	ADV
cblr-12479	407	11	provides	provide	VERB
cblr-12479	407	12	that	that	SCONJ
cblr-12479	407	13	shareholders	shareholder	NOUN
cblr-12479	407	14	’	'	PUNCT
cblr-12479	407	15	agreements	agreement	NOUN
cblr-12479	407	16	are	be	AUX
cblr-12479	407	17	not	not	PART
cblr-12479	407	18	binding	bind	VERB
cblr-12479	407	19	on	on	ADP
cblr-12479	407	20	the	the	DET
cblr-12479	407	21	company	company	NOUN
cblr-12479	407	22	,	,	PUNCT
cblr-12479	407	23	or	or	CCONJ
cblr-12479	407	24	with	with	ADP
cblr-12479	407	25	regard	regard	NOUN
cblr-12479	407	26	to	to	ADP
cblr-12479	407	27	resolutions	resolution	NOUN
cblr-12479	407	28	passed	pass	VERB
cblr-12479	407	29	at	at	ADP
cblr-12479	407	30	general	general	ADJ
cblr-12479	407	31	meetings	meeting	NOUN
cblr-12479	407	32	.	.	PUNCT
cblr-12479	408	1	lov	lov	PROPN
cblr-12479	408	2	om	om	PROPN
cblr-12479	408	3	aktieog	aktieog	VERB
cblr-12479	408	4	708	708	NUM
cblr-12479	408	5	columbia	columbia	PROPN
cblr-12479	408	6	business	business	NOUN
cblr-12479	408	7	law	law	PROPN
cblr-12479	408	8	review	review	NOUN
cblr-12479	408	9	[	[	X
cblr-12479	408	10	vol	vol	NOUN
cblr-12479	408	11	.	.	PUNCT
cblr-12479	408	12	2023	2023	NUM
cblr-12479	408	13	be	be	AUX
cblr-12479	408	14	liable	liable	ADJ
cblr-12479	408	15	if	if	SCONJ
cblr-12479	408	16	they	they	PRON
cblr-12479	408	17	depart	depart	VERB
cblr-12479	408	18	from	from	ADP
cblr-12479	408	19	what	what	PRON
cblr-12479	408	20	is	be	AUX
cblr-12479	408	21	mandated	mandate	VERB
cblr-12479	408	22	by	by	ADP
cblr-12479	408	23	corporate	corporate	ADJ
cblr-12479	408	24	law	law	NOUN
cblr-12479	408	25	and	and	CCONJ
cblr-12479	408	26	the	the	DET
cblr-12479	408	27	corporation	corporation	NOUN
cblr-12479	408	28	’s	’s	PART
cblr-12479	408	29	constitutive	constitutive	ADJ
cblr-12479	408	30	documents	document	NOUN
cblr-12479	408	31	.	.	PUNCT
cblr-12479	409	1	in	in	ADP
cblr-12479	409	2	reaction	reaction	NOUN
cblr-12479	409	3	,	,	PUNCT
cblr-12479	409	4	some	some	DET
cblr-12479	409	5	jurisdictions	jurisdiction	NOUN
cblr-12479	409	6	,	,	PUNCT
cblr-12479	409	7	such	such	ADJ
cblr-12479	409	8	as	as	ADP
cblr-12479	409	9	colombia,131	colombia,131	PROPN
cblr-12479	409	10	the	the	DET
cblr-12479	409	11	netherlands,132	netherlands,132	PROPN
cblr-12479	409	12	russia,133	russia,133	NOUN
cblr-12479	409	13	and	and	CCONJ
cblr-12479	409	14	slovakia,134	slovakia,134	PROPN
cblr-12479	409	15	have	have	AUX
cblr-12479	409	16	explicitly	explicitly	ADV
cblr-12479	409	17	recognized	recognize	VERB
cblr-12479	409	18	shareholders	shareholder	NOUN
cblr-12479	409	19	’	'	PUNCT
cblr-12479	409	20	agreements	agreement	NOUN
cblr-12479	409	21	and	and	CCONJ
cblr-12479	409	22	established	establish	VERB
cblr-12479	409	23	formalities	formality	NOUN
cblr-12479	409	24	to	to	PART
cblr-12479	409	25	ensure	ensure	VERB
cblr-12479	409	26	that	that	SCONJ
cblr-12479	409	27	they	they	PRON
cblr-12479	409	28	are	be	AUX
cblr-12479	409	29	observed	observe	VERB
cblr-12479	409	30	and	and	CCONJ
cblr-12479	409	31	respected,135	respected,135	VERB
cblr-12479	409	32	making	make	VERB
cblr-12479	409	33	them	they	PRON
cblr-12479	409	34	a	a	DET
cblr-12479	409	35	useful	useful	ADJ
cblr-12479	409	36	tool	tool	NOUN
cblr-12479	409	37	to	to	PART
cblr-12479	409	38	structure	structure	VERB
cblr-12479	409	39	contingent	contingent	NOUN
cblr-12479	409	40	control	control	NOUN
cblr-12479	409	41	.	.	PUNCT
cblr-12479	410	1	absent	absent	ADJ
cblr-12479	410	2	an	an	DET
cblr-12479	410	3	explicit	explicit	ADJ
cblr-12479	410	4	procedure	procedure	NOUN
cblr-12479	410	5	to	to	PART
cblr-12479	410	6	make	make	VERB
cblr-12479	410	7	shareholders	shareholder	NOUN
cblr-12479	410	8	’	'	PUNCT
cblr-12479	410	9	agreements	agreement	NOUN
cblr-12479	410	10	binding	bind	VERB
cblr-12479	410	11	for	for	ADP
cblr-12479	410	12	the	the	DET
cblr-12479	410	13	corporation	corporation	NOUN
cblr-12479	410	14	,	,	PUNCT
cblr-12479	410	15	a	a	DET
cblr-12479	410	16	common	common	ADJ
cblr-12479	410	17	solution	solution	NOUN
cblr-12479	410	18	is	be	AUX
cblr-12479	410	19	to	to	PART
cblr-12479	410	20	have	have	VERB
cblr-12479	410	21	all	all	DET
cblr-12479	410	22	shareholders	shareholder	NOUN
cblr-12479	410	23	sign	sign	VERB
cblr-12479	410	24	the	the	DET
cblr-12479	410	25	agreement.136	agreement.136	NOUN
cblr-12479	410	26	this	this	DET
cblr-12479	410	27	widespread	widespread	ADJ
cblr-12479	410	28	practice	practice	NOUN
cblr-12479	410	29	has	have	VERB
cblr-12479	410	30	,	,	PUNCT
cblr-12479	410	31	nevertheless	nevertheless	ADV
cblr-12479	410	32	,	,	PUNCT
cblr-12479	410	33	remained	remain	VERB
cblr-12479	410	34	unchallenged	unchallenged	ADJ
cblr-12479	410	35	judicially	judicially	ADV
cblr-12479	410	36	in	in	ADP
cblr-12479	410	37	most	most	ADJ
cblr-12479	410	38	jurisdictions	jurisdiction	NOUN
cblr-12479	410	39	,	,	PUNCT
cblr-12479	410	40	and	and	CCONJ
cblr-12479	410	41	some	some	DET
cblr-12479	410	42	commentators	commentator	NOUN
cblr-12479	410	43	have	have	AUX
cblr-12479	410	44	cast	cast	VERB
cblr-12479	410	45	doubt	doubt	NOUN
cblr-12479	410	46	on	on	ADP
cblr-12479	410	47	the	the	DET
cblr-12479	410	48	validity	validity	NOUN
cblr-12479	410	49	of	of	ADP
cblr-12479	410	50	such	such	ADJ
cblr-12479	410	51	agreements	agreement	NOUN
cblr-12479	410	52	(	(	PUNCT
cblr-12479	410	53	and	and	CCONJ
cblr-12479	410	54	the	the	DET
cblr-12479	410	55	decisions	decision	NOUN
cblr-12479	410	56	based	base	VERB
cblr-12479	410	57	on	on	ADP
cblr-12479	410	58	them	they	PRON
cblr-12479	410	59	)	)	PUNCT
cblr-12479	410	60	,	,	PUNCT
cblr-12479	410	61	as	as	SCONJ
cblr-12479	410	62	they	they	PRON
cblr-12479	410	63	substitute	substitute	VERB
cblr-12479	410	64	corporate	corporate	ADJ
cblr-12479	410	65	constituent	constituent	NOUN
cblr-12479	410	66	documents	document	NOUN
cblr-12479	410	67	and	and	CCONJ
cblr-12479	410	68	the	the	DET
cblr-12479	410	69	legal	legal	ADJ
cblr-12479	410	70	rules	rule	NOUN
cblr-12479	410	71	that	that	PRON
cblr-12479	410	72	govern	govern	VERB
cblr-12479	410	73	it.137	it.137	PRON
cblr-12479	410	74	anpartsselskaber	anpartsselskaber	VERB
cblr-12479	410	75	(	(	PUNCT
cblr-12479	410	76	selskabsloven	selskabsloven	VERB
cblr-12479	410	77	)	)	PUNCT
cblr-12479	411	1	[	[	X
cblr-12479	411	2	danish	danish	ADJ
cblr-12479	411	3	act	act	NOUN
cblr-12479	411	4	on	on	ADP
cblr-12479	411	5	public	public	ADJ
cblr-12479	411	6	and	and	CCONJ
cblr-12479	411	7	private	private	ADJ
cblr-12479	411	8	limited	limited	ADJ
cblr-12479	411	9	companies	company	NOUN
cblr-12479	411	10	]	]	PUNCT
cblr-12479	411	11	,	,	PUNCT
cblr-12479	411	12	art	art	NOUN
cblr-12479	411	13	.	.	PUNCT
cblr-12479	412	1	82	82	NUM
cblr-12479	412	2	.	.	PUNCT
cblr-12479	413	1	131	131	NUM
cblr-12479	413	2	see	see	VERB
cblr-12479	413	3	l.	l.	PROPN
cblr-12479	413	4	1258de	1258de	PROPN
cblr-12479	413	5	2008	2008	NUM
cblr-12479	413	6	,	,	PUNCT
cblr-12479	413	7	art	art	NOUN
cblr-12479	413	8	.	.	PUNCT
cblr-12479	414	1	24	24	NUM
cblr-12479	414	2	(	(	PUNCT
cblr-12479	414	3	colom	colom	PROPN
cblr-12479	414	4	.	.	PROPN
cblr-12479	414	5	)	)	PUNCT
cblr-12479	415	1	132	132	NUM
cblr-12479	415	2	see	see	VERB
cblr-12479	415	3	dutch	dutch	ADJ
cblr-12479	415	4	civil	civil	PROPN
cblr-12479	415	5	code	code	NOUN
cblr-12479	415	6	,	,	PUNCT
cblr-12479	415	7	burgerlijk	burgerlijk	NOUN
cblr-12479	415	8	wetboek	wetboek	NOUN
cblr-12479	415	9	,	,	PUNCT
cblr-12479	415	10	book	book	NOUN
cblr-12479	415	11	2	2	NUM
cblr-12479	415	12	‘	'	PUNCT
cblr-12479	415	13	rechtspersonen	rechtspersonen	ADJ
cblr-12479	415	14	’	'	PUNCT
cblr-12479	415	15	,	,	PUNCT
cblr-12479	415	16	art	art	NOUN
cblr-12479	415	17	.	.	PUNCT
cblr-12479	416	1	242	242	NUM
cblr-12479	416	2	.	.	X
cblr-12479	417	1	133	133	NUM
cblr-12479	417	2	see	see	VERB
cblr-12479	417	3	russian	russian	ADJ
cblr-12479	417	4	federal	federal	ADJ
cblr-12479	417	5	law	law	NOUN
cblr-12479	417	6	on	on	ADP
cblr-12479	417	7	joint	joint	ADJ
cblr-12479	417	8	stock	stock	NOUN
cblr-12479	417	9	companies	company	NOUN
cblr-12479	417	10	,	,	PUNCT
cblr-12479	417	11	федеральный	федеральный	NOUN
cblr-12479	417	12	закон	закон	NOUN
cblr-12479	417	13	от	от	ADP
cblr-12479	417	14	26	26	NUM
cblr-12479	417	15	декабря	декабря	NOUN
cblr-12479	417	16	1995	1995	NUM
cblr-12479	417	17	г	г	NOUN
cblr-12479	417	18	.	.	PROPN
cblr-12479	417	19	n	n	PROPN
cblr-12479	417	20	208	208	NUM
cblr-12479	417	21	-	-	PUNCT
cblr-12479	417	22	фз	фз	NOUN
cblr-12479	417	23	об	об	PROPN
cblr-12479	417	24	акционерных	акционерных	PROPN
cblr-12479	417	25	обществах	обществах	NOUN
cblr-12479	417	26	,	,	PUNCT
cblr-12479	417	27	art	art	NOUN
cblr-12479	417	28	.	.	PUNCT
cblr-12479	418	1	32.1	32.1	NUM
cblr-12479	418	2	.	.	PUNCT
cblr-12479	419	1	134	134	NUM
cblr-12479	419	2	see	see	VERB
cblr-12479	419	3	slovakian	slovakian	ADJ
cblr-12479	419	4	commercial	commercial	PROPN
cblr-12479	419	5	code	code	PROPN
cblr-12479	419	6	,	,	PUNCT
cblr-12479	419	7	513	513	NUM
cblr-12479	419	8	zákonz	zákonz	NOUN
cblr-12479	419	9	5	5	NUM
cblr-12479	419	10	novembra	novembra	NOUN
cblr-12479	419	11	1991	1991	NUM
cblr-12479	419	12	,	,	PUNCT
cblr-12479	419	13	obchodný	obchodný	ADJ
cblr-12479	419	14	zákonník	zákonník	NOUN
cblr-12479	419	15	§	§	PROPN
cblr-12479	419	16	66.c	66.c	NUM
cblr-12479	419	17	.	.	NOUN
cblr-12479	419	18	135	135	NUM
cblr-12479	419	19	a	a	DET
cblr-12479	419	20	similar	similar	ADJ
cblr-12479	419	21	procedure	procedure	NOUN
cblr-12479	419	22	is	be	AUX
cblr-12479	419	23	available	available	ADJ
cblr-12479	419	24	in	in	ADP
cblr-12479	419	25	the	the	DET
cblr-12479	419	26	united	united	PROPN
cblr-12479	419	27	states	states	PROPN
cblr-12479	419	28	.	.	PUNCT
cblr-12479	420	1	see	see	VERB
cblr-12479	420	2	§	§	PROPN
cblr-12479	420	3	7.32	7.32	NUM
cblr-12479	420	4	of	of	ADP
cblr-12479	420	5	the	the	DET
cblr-12479	420	6	american	american	PROPN
cblr-12479	420	7	bar	bar	PROPN
cblr-12479	420	8	association	association	PROPN
cblr-12479	420	9	’s	’s	PART
cblr-12479	420	10	model	model	PROPN
cblr-12479	420	11	business	business	PROPN
cblr-12479	420	12	corporation	corporation	PROPN
cblr-12479	420	13	act	act	PROPN
cblr-12479	420	14	.	.	PUNCT
cblr-12479	421	1	in	in	ADP
cblr-12479	421	2	france	france	PROPN
cblr-12479	421	3	,	,	PUNCT
cblr-12479	421	4	recent	recent	ADJ
cblr-12479	421	5	case	case	NOUN
cblr-12479	421	6	law	law	NOUN
cblr-12479	421	7	also	also	ADV
cblr-12479	421	8	indicates	indicate	VERB
cblr-12479	421	9	that	that	SCONJ
cblr-12479	421	10	the	the	DET
cblr-12479	421	11	corporate	corporate	ADJ
cblr-12479	421	12	constitutive	constitutive	ADJ
cblr-12479	421	13	document	document	NOUN
cblr-12479	421	14	can	can	AUX
cblr-12479	421	15	give	give	VERB
cblr-12479	421	16	shareholders	shareholder	NOUN
cblr-12479	421	17	’	'	PUNCT
cblr-12479	421	18	agreements	agreement	NOUN
cblr-12479	421	19	its	its	PRON
cblr-12479	421	20	same	same	ADJ
cblr-12479	421	21	binding	bind	VERB
cblr-12479	421	22	authority	authority	NOUN
cblr-12479	421	23	.	.	PUNCT
cblr-12479	422	1	see	see	VERB
cblr-12479	422	2	cour	cour	PROPN
cblr-12479	422	3	de	de	X
cblr-12479	422	4	cassation	cassation	NOUN
cblr-12479	422	5	,	,	PUNCT
cblr-12479	422	6	chambre	chambre	PROPN
cblr-12479	422	7	commerciale	commerciale	NOUN
cblr-12479	422	8	,	,	PUNCT
cblr-12479	422	9	n	n	CCONJ
cblr-12479	422	10	°	°	PROPN
cblr-12479	422	11	16	16	NUM
cblr-12479	422	12	-	-	SYM
cblr-12479	422	13	14097	14097	NUM
cblr-12479	422	14	(	(	PUNCT
cblr-12479	422	15	27	27	NUM
cblr-12479	422	16	juin	juin	NOUN
cblr-12479	422	17	2018	2018	NUM
cblr-12479	422	18	)	)	PUNCT
cblr-12479	422	19	.	.	PUNCT
cblr-12479	423	1	136	136	NUM
cblr-12479	423	2	see	see	VERB
cblr-12479	423	3	rainer	rainer	NOUN
cblr-12479	423	4	kulms	kulm	NOUN
cblr-12479	423	5	,	,	PUNCT
cblr-12479	423	6	a	a	DET
cblr-12479	423	7	shareholder	shareholder	NOUN
cblr-12479	423	8	’s	’s	PART
cblr-12479	423	9	freedom	freedom	NOUN
cblr-12479	423	10	of	of	ADP
cblr-12479	423	11	contract	contract	NOUN
cblr-12479	423	12	in	in	ADP
cblr-12479	423	13	close	close	ADJ
cblr-12479	423	14	corporations	corporation	NOUN
cblr-12479	423	15	—	—	PUNCT
cblr-12479	423	16	shareholder	shareholder	NOUN
cblr-12479	423	17	agreements	agreement	NOUN
cblr-12479	423	18	in	in	ADP
cblr-12479	423	19	the	the	DET
cblr-12479	423	20	usa	usa	PROPN
cblr-12479	423	21	and	and	CCONJ
cblr-12479	423	22	germany	germany	PROPN
cblr-12479	423	23	,	,	PUNCT
cblr-12479	423	24	2	2	NUM
cblr-12479	423	25	eur	eur	NOUN
cblr-12479	423	26	.	.	PUNCT
cblr-12479	424	1	bus	bus	NOUN
cblr-12479	424	2	.	.	PUNCT
cblr-12479	425	1	org	org	PROPN
cblr-12479	425	2	.	.	PUNCT
cblr-12479	426	1	l.	l.	PROPN
cblr-12479	426	2	rev	rev	PROPN
cblr-12479	426	3	,	,	PUNCT
cblr-12479	426	4	685	685	NUM
cblr-12479	426	5	,	,	PUNCT
cblr-12479	426	6	691	691	NUM
cblr-12479	426	7	(	(	PUNCT
cblr-12479	426	8	2001	2001	NUM
cblr-12479	426	9	)	)	PUNCT
cblr-12479	426	10	.	.	PUNCT
cblr-12479	427	1	137	137	NUM
cblr-12479	427	2	see	see	VERB
cblr-12479	427	3	,	,	PUNCT
cblr-12479	427	4	e.g.	e.g.	ADV
cblr-12479	427	5	,	,	PUNCT
cblr-12479	427	6	jidesh	jidesh	PROPN
cblr-12479	427	7	kumar	kumar	PROPN
cblr-12479	427	8	&	&	CCONJ
cblr-12479	427	9	richa	richa	PROPN
cblr-12479	427	10	mehra	mehra	PROPN
cblr-12479	427	11	,	,	PUNCT
cblr-12479	427	12	indian	indian	ADJ
cblr-12479	427	13	private	private	ADJ
cblr-12479	427	14	equity	equity	NOUN
cblr-12479	427	15	:	:	PUNCT
cblr-12479	427	16	beware	beware	VERB
cblr-12479	427	17	rights	right	NOUN
cblr-12479	427	18	of	of	ADP
cblr-12479	427	19	shareholders	shareholder	NOUN
cblr-12479	427	20	m&a	m&a	PROPN
cblr-12479	427	21	,	,	PUNCT
cblr-12479	427	22	25	25	NUM
cblr-12479	427	23	int	int	NOUN
cblr-12479	427	24	.	.	PUNCT
cblr-12479	428	1	fin	fin	NOUN
cblr-12479	428	2	.	.	PUNCT
cblr-12479	429	1	l.	l.	PROPN
cblr-12479	429	2	rev	rev	PROPN
cblr-12479	429	3	.	.	PROPN
cblr-12479	429	4	40	40	NUM
cblr-12479	429	5	(	(	PUNCT
cblr-12479	429	6	2006	2006	NUM
cblr-12479	429	7	)	)	PUNCT
cblr-12479	429	8	,	,	PUNCT
cblr-12479	429	9	https://www.iflr.com/article/2a63u6aqmkut501cwh14w/indian-privateequity-beware-rights-of-shareholders	https://www.iflr.com/article/2a63u6aqmkut501cwh14w/indian-privateequity-beware-rights-of-shareholder	VERB
cblr-12479	430	1	[	[	X
cblr-12479	430	2	https://perma.cc/nw4q-4nar	https://perma.cc/nw4q-4nar	X
cblr-12479	430	3	]	]	X
cblr-12479	430	4	(	(	PUNCT
cblr-12479	430	5	noting	note	VERB
cblr-12479	430	6	that	that	SCONJ
cblr-12479	430	7	,	,	PUNCT
cblr-12479	430	8	under	under	ADP
cblr-12479	430	9	established	establish	VERB
cblr-12479	430	10	case	case	NOUN
cblr-12479	430	11	-	-	PUNCT
cblr-12479	430	12	law	law	NOUN
cblr-12479	430	13	in	in	ADP
cblr-12479	430	14	india	india	PROPN
cblr-12479	430	15	,	,	PUNCT
cblr-12479	430	16	anti	anti	ADJ
cblr-12479	430	17	-	-	ADJ
cblr-12479	430	18	dilution	dilution	ADJ
cblr-12479	430	19	protections	protection	NOUN
cblr-12479	430	20	in	in	ADP
cblr-12479	430	21	shareholder	shareholder	NOUN
cblr-12479	430	22	agreements	agreement	NOUN
cblr-12479	430	23	are	be	AUX
cblr-12479	430	24	not	not	PART
cblr-12479	430	25	enforceable	enforceable	ADJ
cblr-12479	430	26	)	)	PUNCT
cblr-12479	430	27	.	.	PUNCT
cblr-12479	431	1	no	no	INTJ
cblr-12479	431	2	.	.	NOUN
cblr-12479	432	1	2	2	NUM
cblr-12479	432	2	]	]	PUNCT
cblr-12479	432	3	the	the	DET
cblr-12479	432	4	law	law	NOUN
cblr-12479	432	5	of	of	ADP
cblr-12479	432	6	contingent	contingent	ADJ
cblr-12479	432	7	control	control	NOUN
cblr-12479	432	8	709	709	NUM
cblr-12479	432	9	when	when	SCONJ
cblr-12479	432	10	shareholders	shareholder	NOUN
cblr-12479	432	11	’	'	PUNCT
cblr-12479	432	12	agreements	agreement	NOUN
cblr-12479	432	13	are	be	AUX
cblr-12479	432	14	undisputedly	undisputedly	ADV
cblr-12479	432	15	binding	bind	VERB
cblr-12479	432	16	,	,	PUNCT
cblr-12479	432	17	the	the	DET
cblr-12479	432	18	effect	effect	NOUN
cblr-12479	432	19	of	of	ADP
cblr-12479	432	20	a	a	DET
cblr-12479	432	21	breach	breach	NOUN
cblr-12479	432	22	might	might	AUX
cblr-12479	432	23	still	still	ADV
cblr-12479	432	24	be	be	AUX
cblr-12479	432	25	problematic	problematic	ADJ
cblr-12479	432	26	.	.	PUNCT
cblr-12479	433	1	the	the	DET
cblr-12479	433	2	success	success	NOUN
cblr-12479	433	3	of	of	ADP
cblr-12479	433	4	legal	legal	ADJ
cblr-12479	433	5	actions	action	NOUN
cblr-12479	433	6	for	for	ADP
cblr-12479	433	7	breach	breach	NOUN
cblr-12479	433	8	of	of	ADP
cblr-12479	433	9	contract	contract	NOUN
cblr-12479	433	10	requires	require	VERB
cblr-12479	433	11	proof	proof	NOUN
cblr-12479	433	12	the	the	DET
cblr-12479	433	13	breach	breach	NOUN
cblr-12479	433	14	and	and	CCONJ
cblr-12479	433	15	generally	generally	ADV
cblr-12479	433	16	gives	give	VERB
cblr-12479	433	17	the	the	DET
cblr-12479	433	18	complying	comply	VERB
cblr-12479	433	19	party	party	NOUN
cblr-12479	433	20	a	a	DET
cblr-12479	433	21	right	right	NOUN
cblr-12479	433	22	to	to	ADP
cblr-12479	433	23	contractual	contractual	ADJ
cblr-12479	433	24	remedies	remedy	NOUN
cblr-12479	433	25	,	,	PUNCT
cblr-12479	433	26	instead	instead	ADV
cblr-12479	433	27	of	of	ADP
cblr-12479	433	28	injunction	injunction	NOUN
cblr-12479	433	29	or	or	CCONJ
cblr-12479	433	30	specific	specific	ADJ
cblr-12479	433	31	performance.138	performance.138	NOUN
cblr-12479	433	32	hence	hence	ADV
cblr-12479	433	33	,	,	PUNCT
cblr-12479	433	34	a	a	DET
cblr-12479	433	35	complying	comply	VERB
cblr-12479	433	36	party	party	NOUN
cblr-12479	433	37	might	might	AUX
cblr-12479	433	38	not	not	PART
cblr-12479	433	39	be	be	AUX
cblr-12479	433	40	able	able	ADJ
cblr-12479	433	41	to	to	PART
cblr-12479	433	42	use	use	VERB
cblr-12479	433	43	shareholders	shareholder	NOUN
cblr-12479	433	44	’	'	PUNCT
cblr-12479	433	45	agreements	agreement	NOUN
cblr-12479	433	46	as	as	ADP
cblr-12479	433	47	a	a	DET
cblr-12479	433	48	control	control	NOUN
cblr-12479	433	49	tool	tool	NOUN
cblr-12479	433	50	(	(	PUNCT
cblr-12479	433	51	e.g.	e.g.	ADV
cblr-12479	433	52	,	,	PUNCT
cblr-12479	433	53	frustrating	frustrating	ADJ
cblr-12479	433	54	the	the	DET
cblr-12479	433	55	approval	approval	NOUN
cblr-12479	433	56	of	of	ADP
cblr-12479	433	57	a	a	DET
cblr-12479	433	58	transaction	transaction	NOUN
cblr-12479	433	59	with	with	ADP
cblr-12479	433	60	votes	vote	NOUN
cblr-12479	433	61	against	against	ADP
cblr-12479	433	62	the	the	DET
cblr-12479	433	63	contract	contract	NOUN
cblr-12479	433	64	)	)	PUNCT
cblr-12479	433	65	,	,	PUNCT
cblr-12479	433	66	but	but	CCONJ
cblr-12479	433	67	rather	rather	ADV
cblr-12479	433	68	would	would	AUX
cblr-12479	433	69	have	have	VERB
cblr-12479	433	70	to	to	PART
cblr-12479	433	71	seek	seek	VERB
cblr-12479	433	72	contractual	contractual	ADJ
cblr-12479	433	73	remedies	remedy	NOUN
cblr-12479	433	74	(	(	PUNCT
cblr-12479	433	75	e.g.	e.g.	ADV
cblr-12479	433	76	,	,	PUNCT
cblr-12479	433	77	damages),139	damages),139	VERB
cblr-12479	433	78	once	once	ADV
cblr-12479	433	79	the	the	DET
cblr-12479	433	80	votes	vote	NOUN
cblr-12479	433	81	are	be	AUX
cblr-12479	433	82	counted	count	VERB
cblr-12479	433	83	and	and	CCONJ
cblr-12479	433	84	the	the	DET
cblr-12479	433	85	transaction	transaction	NOUN
cblr-12479	433	86	approved	approve	VERB
cblr-12479	433	87	.	.	PUNCT
cblr-12479	434	1	the	the	DET
cblr-12479	434	2	complying	comply	VERB
cblr-12479	434	3	party	party	NOUN
cblr-12479	434	4	could	could	AUX
cblr-12479	434	5	attempt	attempt	VERB
cblr-12479	434	6	to	to	PART
cblr-12479	434	7	preserve	preserve	VERB
cblr-12479	434	8	control	control	NOUN
cblr-12479	434	9	through	through	ADP
cblr-12479	434	10	an	an	DET
cblr-12479	434	11	injunction	injunction	NOUN
cblr-12479	434	12	,	,	PUNCT
cblr-12479	434	13	but	but	CCONJ
cblr-12479	434	14	the	the	DET
cblr-12479	434	15	efficacy	efficacy	NOUN
cblr-12479	434	16	of	of	ADP
cblr-12479	434	17	this	this	DET
cblr-12479	434	18	strategy	strategy	NOUN
cblr-12479	434	19	will	will	AUX
cblr-12479	434	20	depend	depend	VERB
cblr-12479	434	21	on	on	ADP
cblr-12479	434	22	whether	whether	SCONJ
cblr-12479	434	23	injunction	injunction	NOUN
cblr-12479	434	24	and	and	CCONJ
cblr-12479	434	25	specific	specific	ADJ
cblr-12479	434	26	performance	performance	NOUN
cblr-12479	434	27	are	be	AUX
cblr-12479	434	28	available	available	ADJ
cblr-12479	434	29	remedies	remedy	NOUN
cblr-12479	434	30	for	for	ADP
cblr-12479	434	31	contractual	contractual	ADJ
cblr-12479	434	32	claims	claim	NOUN
cblr-12479	434	33	,	,	PUNCT
cblr-12479	434	34	which	which	PRON
cblr-12479	434	35	is	be	AUX
cblr-12479	434	36	uncommon	uncommon	ADJ
cblr-12479	434	37	and	and	CCONJ
cblr-12479	434	38	arguably	arguably	ADV
cblr-12479	434	39	undesirable.140	undesirable.140	ADP
cblr-12479	434	40	these	these	DET
cblr-12479	434	41	considerations	consideration	NOUN
cblr-12479	434	42	and	and	CCONJ
cblr-12479	434	43	the	the	DET
cblr-12479	434	44	absence	absence	NOUN
cblr-12479	434	45	of	of	ADP
cblr-12479	434	46	case	case	NOUN
cblr-12479	434	47	law	law	NOUN
cblr-12479	434	48	and	and	CCONJ
cblr-12479	434	49	commentary	commentary	NOUN
cblr-12479	434	50	specific	specific	ADJ
cblr-12479	434	51	to	to	ADP
cblr-12479	434	52	shareholders	shareholder	NOUN
cblr-12479	434	53	’	'	PUNCT
cblr-12479	434	54	agreements	agreement	NOUN
cblr-12479	434	55	may	may	AUX
cblr-12479	434	56	explain	explain	VERB
cblr-12479	434	57	the	the	DET
cblr-12479	434	58	tendency	tendency	NOUN
cblr-12479	434	59	to	to	ADP
cblr-12479	434	60	138	138	NUM
cblr-12479	434	61	see	see	VERB
cblr-12479	434	62	henry	henry	PROPN
cblr-12479	434	63	hansmann	hansmann	PROPN
cblr-12479	434	64	&	&	CCONJ
cblr-12479	434	65	reinier	reinier	PROPN
cblr-12479	434	66	kraakman	kraakman	PROPN
cblr-12479	434	67	,	,	PUNCT
cblr-12479	434	68	property	property	NOUN
cblr-12479	434	69	,	,	PUNCT
cblr-12479	434	70	contract	contract	NOUN
cblr-12479	434	71	,	,	PUNCT
cblr-12479	434	72	and	and	CCONJ
cblr-12479	434	73	verification	verification	NOUN
cblr-12479	434	74	:	:	PUNCT
cblr-12479	434	75	the	the	DET
cblr-12479	434	76	numerus	numerus	PROPN
cblr-12479	434	77	clausus	clausus	PROPN
cblr-12479	434	78	problem	problem	NOUN
cblr-12479	434	79	and	and	CCONJ
cblr-12479	434	80	the	the	DET
cblr-12479	434	81	divisibility	divisibility	NOUN
cblr-12479	434	82	of	of	ADP
cblr-12479	434	83	rights	right	NOUN
cblr-12479	434	84	,	,	PUNCT
cblr-12479	434	85	31	31	NUM
cblr-12479	434	86	j.	j.	PROPN
cblr-12479	434	87	leg	leg	PROPN
cblr-12479	434	88	.	.	PUNCT
cblr-12479	434	89	stud	stud	PROPN
cblr-12479	434	90	.	.	PUNCT
cblr-12479	435	1	s373	s373	NUM
cblr-12479	435	2	,	,	PUNCT
cblr-12479	435	3	s413	s413	PROPN
cblr-12479	435	4	(	(	PUNCT
cblr-12479	435	5	2002	2002	NUM
cblr-12479	435	6	)	)	PUNCT
cblr-12479	435	7	(	(	PUNCT
cblr-12479	435	8	highlighting	highlight	VERB
cblr-12479	435	9	that	that	SCONJ
cblr-12479	435	10	“	"	PUNCT
cblr-12479	435	11	specific	specific	ADJ
cblr-12479	435	12	performance	performance	NOUN
cblr-12479	435	13	is	be	AUX
cblr-12479	435	14	a	a	DET
cblr-12479	435	15	disfavored	disfavored	ADJ
cblr-12479	435	16	remedy	remedy	NOUN
cblr-12479	435	17	for	for	ADP
cblr-12479	435	18	contract	contract	NOUN
cblr-12479	435	19	rights	right	NOUN
cblr-12479	435	20	”	"	PUNCT
cblr-12479	435	21	)	)	PUNCT
cblr-12479	435	22	.	.	PUNCT
cblr-12479	436	1	139	139	NUM
cblr-12479	436	2	sebastian	sebastian	PROPN
cblr-12479	436	3	mock	mock	NOUN
cblr-12479	436	4	,	,	PUNCT
cblr-12479	436	5	kristian	kristian	PROPN
cblr-12479	436	6	csach	csach	PROPN
cblr-12479	436	7	&	&	CCONJ
cblr-12479	436	8	bohumil	bohumil	PROPN
cblr-12479	436	9	havel	havel	NOUN
cblr-12479	436	10	,	,	PUNCT
cblr-12479	436	11	shareholders	shareholder	NOUN
cblr-12479	436	12	’	'	PUNCT
cblr-12479	436	13	agreements	agreement	NOUN
cblr-12479	436	14	between	between	ADP
cblr-12479	436	15	corporate	corporate	ADJ
cblr-12479	436	16	and	and	CCONJ
cblr-12479	436	17	contract	contract	NOUN
cblr-12479	436	18	law	law	NOUN
cblr-12479	436	19	,	,	PUNCT
cblr-12479	436	20	in	in	ADP
cblr-12479	436	21	international	international	ADJ
cblr-12479	436	22	handbook	handbook	NOUN
cblr-12479	436	23	on	on	ADP
cblr-12479	436	24	shareholders	shareholder	NOUN
cblr-12479	436	25	́agreements	́agreement	NOUN
cblr-12479	436	26	:	:	PUNCT
cblr-12479	436	27	regulation	regulation	NOUN
cblr-12479	436	28	,	,	PUNCT
cblr-12479	436	29	practice	practice	NOUN
cblr-12479	436	30	and	and	CCONJ
cblr-12479	436	31	comparative	comparative	ADJ
cblr-12479	436	32	analysis	analysis	NOUN
cblr-12479	436	33	15	15	NUM
cblr-12479	436	34	,	,	PUNCT
cblr-12479	436	35	30	30	NUM
cblr-12479	436	36	(	(	PUNCT
cblr-12479	436	37	2018	2018	NUM
cblr-12479	436	38	)	)	PUNCT
cblr-12479	436	39	(	(	PUNCT
cblr-12479	436	40	noting	note	VERB
cblr-12479	436	41	that	that	SCONJ
cblr-12479	436	42	“	"	PUNCT
cblr-12479	436	43	the	the	DET
cblr-12479	436	44	law	law	NOUN
cblr-12479	436	45	usually	usually	ADV
cblr-12479	436	46	does	do	AUX
cblr-12479	436	47	not	not	PART
cblr-12479	436	48	provide	provide	VERB
cblr-12479	436	49	for	for	ADP
cblr-12479	436	50	the	the	DET
cblr-12479	436	51	specific	specific	ADJ
cblr-12479	436	52	consequences	consequence	NOUN
cblr-12479	436	53	of	of	ADP
cblr-12479	436	54	a	a	DET
cblr-12479	436	55	breach	breach	NOUN
cblr-12479	436	56	of	of	ADP
cblr-12479	436	57	shareholders	shareholder	NOUN
cblr-12479	436	58	’	'	PUNCT
cblr-12479	436	59	agreements	agreement	NOUN
cblr-12479	436	60	.	.	PUNCT
cblr-12479	437	1	common	common	ADJ
cblr-12479	437	2	contractual	contractual	ADJ
cblr-12479	437	3	tools	tool	NOUN
cblr-12479	437	4	will	will	AUX
cblr-12479	437	5	therefore	therefore	ADV
cblr-12479	437	6	be	be	AUX
cblr-12479	437	7	used	use	VERB
cblr-12479	437	8	.	.	PUNCT
cblr-12479	438	1	the	the	DET
cblr-12479	438	2	injured	injure	VERB
cblr-12479	438	3	party	party	NOUN
cblr-12479	438	4	should	should	AUX
cblr-12479	438	5	basically	basically	ADV
cblr-12479	438	6	have	have	VERB
cblr-12479	438	7	at	at	ADP
cblr-12479	438	8	its	its	PRON
cblr-12479	438	9	disposal	disposal	NOUN
cblr-12479	438	10	the	the	DET
cblr-12479	438	11	whole	whole	ADJ
cblr-12479	438	12	range	range	NOUN
cblr-12479	438	13	of	of	ADP
cblr-12479	438	14	contractual	contractual	ADJ
cblr-12479	438	15	remedies	remedy	NOUN
cblr-12479	438	16	(	(	PUNCT
cblr-12479	438	17	damages	damage	NOUN
cblr-12479	438	18	,	,	PUNCT
cblr-12479	438	19	withdrawal	withdrawal	NOUN
cblr-12479	438	20	from	from	ADP
cblr-12479	438	21	the	the	DET
cblr-12479	438	22	contract	contract	NOUN
cblr-12479	438	23	,	,	PUNCT
cblr-12479	438	24	objections	objection	NOUN
cblr-12479	438	25	of	of	ADP
cblr-12479	438	26	default	default	NOUN
cblr-12479	438	27	,	,	PUNCT
cblr-12479	438	28	liability	liability	NOUN
cblr-12479	438	29	for	for	ADP
cblr-12479	438	30	delay	delay	NOUN
cblr-12479	438	31	,	,	PUNCT
cblr-12479	438	32	etc	etc	X
cblr-12479	438	33	.	.	X
cblr-12479	438	34	)	)	PUNCT
cblr-12479	438	35	”	"	PUNCT
cblr-12479	438	36	)	)	PUNCT
cblr-12479	438	37	.	.	PUNCT
cblr-12479	439	1	140	140	NUM
cblr-12479	439	2	hansmann	hansmann	NOUN
cblr-12479	439	3	and	and	CCONJ
cblr-12479	439	4	kraakman	kraakman	ADJ
cblr-12479	439	5	,	,	PUNCT
cblr-12479	439	6	supra	supra	PROPN
cblr-12479	439	7	note	note	NOUN
cblr-12479	439	8	139	139	NUM
cblr-12479	439	9	,	,	PUNCT
cblr-12479	439	10	at	at	ADP
cblr-12479	439	11	s414	s414	PROPN
cblr-12479	439	12	(	(	PUNCT
cblr-12479	439	13	arguing	argue	VERB
cblr-12479	439	14	that	that	SCONJ
cblr-12479	439	15	“	"	PUNCT
cblr-12479	439	16	permitting	permit	VERB
cblr-12479	439	17	parties	party	NOUN
cblr-12479	439	18	to	to	PART
cblr-12479	439	19	contract	contract	VERB
cblr-12479	439	20	for	for	ADP
cblr-12479	439	21	specific	specific	ADJ
cblr-12479	439	22	performance	performance	NOUN
cblr-12479	439	23	would	would	AUX
cblr-12479	439	24	run	run	VERB
cblr-12479	439	25	the	the	DET
cblr-12479	439	26	risk	risk	NOUN
cblr-12479	439	27	of	of	ADP
cblr-12479	439	28	creating	create	VERB
cblr-12479	439	29	a	a	DET
cblr-12479	439	30	fruitless	fruitless	ADJ
cblr-12479	439	31	arms	arm	NOUN
cblr-12479	439	32	race	race	NOUN
cblr-12479	439	33	.	.	PUNCT
cblr-12479	440	1	clauses	clause	NOUN
cblr-12479	440	2	providing	provide	VERB
cblr-12479	440	3	for	for	ADP
cblr-12479	440	4	specific	specific	ADJ
cblr-12479	440	5	performance	performance	NOUN
cblr-12479	440	6	would	would	AUX
cblr-12479	440	7	become	become	VERB
cblr-12479	440	8	routine	routine	ADJ
cblr-12479	440	9	in	in	ADP
cblr-12479	440	10	contracts	contract	NOUN
cblr-12479	440	11	,	,	PUNCT
cblr-12479	440	12	since	since	SCONJ
cblr-12479	440	13	failure	failure	NOUN
cblr-12479	440	14	to	to	PART
cblr-12479	440	15	insist	insist	VERB
cblr-12479	440	16	on	on	ADP
cblr-12479	440	17	such	such	DET
cblr-12479	440	18	a	a	DET
cblr-12479	440	19	clause	clause	NOUN
cblr-12479	440	20	might	might	AUX
cblr-12479	440	21	leave	leave	VERB
cblr-12479	440	22	a	a	DET
cblr-12479	440	23	party	party	NOUN
cblr-12479	440	24	disadvantaged	disadvantaged	ADJ
cblr-12479	440	25	relative	relative	NOUN
cblr-12479	440	26	to	to	ADP
cblr-12479	440	27	parties	party	NOUN
cblr-12479	440	28	with	with	ADP
cblr-12479	440	29	conflicting	conflicting	ADJ
cblr-12479	440	30	claims	claim	NOUN
cblr-12479	440	31	who	who	PRON
cblr-12479	440	32	extract	extract	VERB
cblr-12479	440	33	the	the	DET
cblr-12479	440	34	clause	clause	NOUN
cblr-12479	440	35	.	.	PUNCT
cblr-12479	441	1	yet	yet	ADV
cblr-12479	441	2	,	,	PUNCT
cblr-12479	441	3	if	if	SCONJ
cblr-12479	441	4	all	all	DET
cblr-12479	441	5	contracts	contract	NOUN
cblr-12479	441	6	contain	contain	VERB
cblr-12479	441	7	a	a	DET
cblr-12479	441	8	specific	specific	ADJ
cblr-12479	441	9	performance	performance	NOUN
cblr-12479	441	10	clause	clause	NOUN
cblr-12479	441	11	,	,	PUNCT
cblr-12479	441	12	contracting	contract	VERB
cblr-12479	441	13	parties	party	NOUN
cblr-12479	441	14	in	in	ADP
cblr-12479	441	15	general	general	ADJ
cblr-12479	441	16	end	end	VERB
cblr-12479	441	17	up	up	ADP
cblr-12479	441	18	no	no	PRON
cblr-12479	441	19	more	more	ADV
cblr-12479	441	20	secure	secure	ADJ
cblr-12479	441	21	than	than	SCONJ
cblr-12479	441	22	they	they	PRON
cblr-12479	441	23	were	be	AUX
cblr-12479	441	24	in	in	ADP
cblr-12479	441	25	the	the	DET
cblr-12479	441	26	absence	absence	NOUN
cblr-12479	441	27	of	of	ADP
cblr-12479	441	28	those	those	DET
cblr-12479	441	29	clauses	clause	NOUN
cblr-12479	441	30	.	.	PUNCT
cblr-12479	441	31	”	"	PUNCT
cblr-12479	441	32	)	)	PUNCT
cblr-12479	441	33	.	.	PUNCT
cblr-12479	442	1	710	710	NUM
cblr-12479	442	2	columbia	columbia	PROPN
cblr-12479	442	3	business	business	NOUN
cblr-12479	442	4	law	law	PROPN
cblr-12479	442	5	review	review	NOUN
cblr-12479	442	6	[	[	X
cblr-12479	442	7	vol	vol	NOUN
cblr-12479	442	8	.	.	PUNCT
cblr-12479	442	9	2023	2023	NUM
cblr-12479	442	10	establish	establish	VERB
cblr-12479	442	11	pecuniary	pecuniary	ADJ
cblr-12479	442	12	clauses	clause	NOUN
cblr-12479	442	13	with	with	ADP
cblr-12479	442	14	liquidated	liquidate	VERB
cblr-12479	442	15	damages,141	damages,141	PROPN
cblr-12479	442	16	and	and	CCONJ
cblr-12479	442	17	the	the	DET
cblr-12479	442	18	preference	preference	NOUN
cblr-12479	442	19	for	for	ADP
cblr-12479	442	20	non	non	ADJ
cblr-12479	442	21	-	-	ADJ
cblr-12479	442	22	judicial	judicial	ADJ
cblr-12479	442	23	resolutions.142	resolutions.142	PROPN
cblr-12479	442	24	d.	d.	PROPN
cblr-12479	442	25	summary	summary	VERB
cblr-12479	442	26	in	in	ADP
cblr-12479	442	27	sum	sum	NOUN
cblr-12479	442	28	,	,	PUNCT
cblr-12479	442	29	while	while	SCONJ
cblr-12479	442	30	contingent	contingent	ADJ
cblr-12479	442	31	control	control	NOUN
cblr-12479	442	32	is	be	AUX
cblr-12479	442	33	pivotal	pivotal	ADJ
cblr-12479	442	34	to	to	ADP
cblr-12479	442	35	reaching	reach	VERB
cblr-12479	442	36	socially	socially	ADV
cblr-12479	442	37	efficient	efficient	ADJ
cblr-12479	442	38	vc	vc	NOUN
cblr-12479	442	39	financing	financing	NOUN
cblr-12479	442	40	agreements	agreement	NOUN
cblr-12479	442	41	,	,	PUNCT
cblr-12479	442	42	its	its	PRON
cblr-12479	442	43	structure	structure	NOUN
cblr-12479	442	44	through	through	ADP
cblr-12479	442	45	security	security	NOUN
cblr-12479	442	46	design	design	NOUN
cblr-12479	442	47	is	be	AUX
cblr-12479	442	48	not	not	PART
cblr-12479	442	49	uniformly	uniformly	ADV
cblr-12479	442	50	possible	possible	ADJ
cblr-12479	442	51	across	across	ADP
cblr-12479	442	52	jurisdictions	jurisdiction	NOUN
cblr-12479	442	53	.	.	PUNCT
cblr-12479	443	1	in	in	ADP
cblr-12479	443	2	fact	fact	NOUN
cblr-12479	443	3	,	,	PUNCT
cblr-12479	443	4	temporarily	temporarily	ADV
cblr-12479	443	5	restricting	restrict	VERB
cblr-12479	443	6	or	or	CCONJ
cblr-12479	443	7	expanding	expand	VERB
cblr-12479	443	8	shareholders	shareholder	NOUN
cblr-12479	443	9	’	’	PART
cblr-12479	443	10	voting	voting	NOUN
cblr-12479	443	11	or	or	CCONJ
cblr-12479	443	12	board	board	NOUN
cblr-12479	443	13	representation	representation	NOUN
cblr-12479	443	14	rights	right	NOUN
cblr-12479	443	15	is	be	AUX
cblr-12479	443	16	often	often	ADV
cblr-12479	443	17	forbidden	forbid	VERB
cblr-12479	443	18	or	or	CCONJ
cblr-12479	443	19	subject	subject	ADJ
cblr-12479	443	20	to	to	ADP
cblr-12479	443	21	legal	legal	ADJ
cblr-12479	443	22	conditions	condition	NOUN
cblr-12479	443	23	that	that	PRON
cblr-12479	443	24	reduce	reduce	VERB
cblr-12479	443	25	the	the	DET
cblr-12479	443	26	range	range	NOUN
cblr-12479	443	27	of	of	ADP
cblr-12479	443	28	bargains	bargain	NOUN
cblr-12479	443	29	between	between	ADP
cblr-12479	443	30	founders	founder	NOUN
cblr-12479	443	31	and	and	CCONJ
cblr-12479	443	32	investors	investor	NOUN
cblr-12479	443	33	.	.	PUNCT
cblr-12479	444	1	while	while	SCONJ
cblr-12479	444	2	shareholders	shareholder	NOUN
cblr-12479	444	3	’	'	PUNCT
cblr-12479	444	4	agreements	agreement	NOUN
cblr-12479	444	5	may	may	AUX
cblr-12479	444	6	support	support	VERB
cblr-12479	444	7	the	the	DET
cblr-12479	444	8	structure	structure	NOUN
cblr-12479	444	9	of	of	ADP
cblr-12479	444	10	contingent	contingent	ADJ
cblr-12479	444	11	control	control	NOUN
cblr-12479	444	12	,	,	PUNCT
cblr-12479	444	13	they	they	PRON
cblr-12479	444	14	represent	represent	VERB
cblr-12479	444	15	a	a	DET
cblr-12479	444	16	weaker	weak	ADJ
cblr-12479	444	17	alternative	alternative	NOUN
cblr-12479	444	18	,	,	PUNCT
cblr-12479	444	19	for	for	SCONJ
cblr-12479	444	20	they	they	PRON
cblr-12479	444	21	are	be	AUX
cblr-12479	444	22	not	not	PART
cblr-12479	444	23	always	always	ADV
cblr-12479	444	24	enforceable	enforceable	ADJ
cblr-12479	444	25	and	and	CCONJ
cblr-12479	444	26	their	their	PRON
cblr-12479	444	27	breach	breach	NOUN
cblr-12479	444	28	generally	generally	ADV
cblr-12479	444	29	entails	entail	VERB
cblr-12479	444	30	contractual	contractual	ADJ
cblr-12479	444	31	damages	damage	NOUN
cblr-12479	444	32	(	(	PUNCT
cblr-12479	444	33	not	not	PART
cblr-12479	444	34	a	a	DET
cblr-12479	444	35	proprietary	proprietary	ADJ
cblr-12479	444	36	claim	claim	NOUN
cblr-12479	444	37	to	to	PART
cblr-12479	444	38	assure	assure	VERB
cblr-12479	444	39	control	control	PROPN
cblr-12479	444	40	)	)	PUNCT
cblr-12479	444	41	,	,	PUNCT
cblr-12479	444	42	and	and	CCONJ
cblr-12479	444	43	injunctions	injunction	NOUN
cblr-12479	444	44	are	be	AUX
cblr-12479	444	45	not	not	PART
cblr-12479	444	46	uniformly	uniformly	ADV
cblr-12479	444	47	reliable	reliable	ADJ
cblr-12479	444	48	.	.	PUNCT
cblr-12479	445	1	the	the	DET
cblr-12479	445	2	use	use	NOUN
cblr-12479	445	3	of	of	ADP
cblr-12479	445	4	shareholders	shareholder	NOUN
cblr-12479	445	5	’	'	PUNCT
cblr-12479	445	6	agreements	agreement	NOUN
cblr-12479	445	7	as	as	ADP
cblr-12479	445	8	substitutes	substitute	NOUN
cblr-12479	445	9	for	for	ADP
cblr-12479	445	10	corporate	corporate	ADJ
cblr-12479	445	11	law	law	NOUN
cblr-12479	445	12	instruments	instrument	NOUN
cblr-12479	445	13	is	be	AUX
cblr-12479	445	14	not	not	PART
cblr-12479	445	15	only	only	ADV
cblr-12479	445	16	suboptimal	suboptimal	ADJ
cblr-12479	445	17	for	for	ADP
cblr-12479	445	18	the	the	DET
cblr-12479	445	19	parties	party	NOUN
cblr-12479	445	20	but	but	CCONJ
cblr-12479	445	21	also	also	ADV
cblr-12479	445	22	perilous	perilous	ADJ
cblr-12479	445	23	for	for	ADP
cblr-12479	445	24	the	the	DET
cblr-12479	445	25	legal	legal	ADJ
cblr-12479	445	26	system	system	NOUN
cblr-12479	445	27	and	and	CCONJ
cblr-12479	445	28	venture	venture	NOUN
cblr-12479	445	29	finance	finance	NOUN
cblr-12479	445	30	.	.	PUNCT
cblr-12479	446	1	the	the	DET
cblr-12479	446	2	next	next	ADJ
cblr-12479	446	3	section	section	NOUN
cblr-12479	446	4	considers	consider	VERB
cblr-12479	446	5	the	the	DET
cblr-12479	446	6	risks	risk	NOUN
cblr-12479	446	7	of	of	ADP
cblr-12479	446	8	relying	rely	VERB
cblr-12479	446	9	on	on	ADP
cblr-12479	446	10	shareholders	shareholder	NOUN
cblr-12479	446	11	’	'	PUNCT
cblr-12479	446	12	agreements	agreement	NOUN
cblr-12479	446	13	to	to	PART
cblr-12479	446	14	sustain	sustain	VERB
cblr-12479	446	15	vc	vc	PROPN
cblr-12479	446	16	markets	market	NOUN
cblr-12479	446	17	.	.	PUNCT
cblr-12479	447	1	141	141	NUM
cblr-12479	447	2	holger	holger	NOUN
cblr-12479	447	3	fleischer	fleischer	NOUN
cblr-12479	447	4	’s	’s	PART
cblr-12479	447	5	comparative	comparative	ADJ
cblr-12479	447	6	examination	examination	NOUN
cblr-12479	447	7	revealed	reveal	VERB
cblr-12479	447	8	that	that	SCONJ
cblr-12479	447	9	“	"	PUNCT
cblr-12479	447	10	shareholder	shareholder	NOUN
cblr-12479	447	11	agreements	agreement	NOUN
cblr-12479	447	12	are	be	AUX
cblr-12479	447	13	almost	almost	ADV
cblr-12479	447	14	universally	universally	ADV
cblr-12479	447	15	subject	subject	ADJ
cblr-12479	447	16	to	to	ADP
cblr-12479	447	17	liability	liability	NOUN
cblr-12479	447	18	sanctions	sanction	NOUN
cblr-12479	447	19	”	"	PUNCT
cblr-12479	447	20	and	and	CCONJ
cblr-12479	447	21	that	that	SCONJ
cblr-12479	447	22	while	while	SCONJ
cblr-12479	447	23	“	"	PUNCT
cblr-12479	447	24	many	many	ADJ
cblr-12479	447	25	jurisdictions	jurisdiction	NOUN
cblr-12479	447	26	allow	allow	VERB
cblr-12479	447	27	for	for	ADP
cblr-12479	447	28	specific	specific	ADJ
cblr-12479	447	29	performance	performance	NOUN
cblr-12479	447	30	and	and	CCONJ
cblr-12479	447	31	injunctions	injunction	NOUN
cblr-12479	447	32	.	.	PUNCT
cblr-12479	447	33	.	.	PUNCT
cblr-12479	447	34	.	.	PUNCT
cblr-12479	448	1	a	a	DET
cblr-12479	448	2	number	number	NOUN
cblr-12479	448	3	of	of	ADP
cblr-12479	448	4	jurisdictions	jurisdiction	NOUN
cblr-12479	448	5	,	,	PUNCT
cblr-12479	448	6	including	include	VERB
cblr-12479	448	7	argentina	argentina	PROPN
cblr-12479	448	8	and	and	CCONJ
cblr-12479	448	9	japan	japan	PROPN
cblr-12479	448	10	,	,	PUNCT
cblr-12479	448	11	still	still	ADV
cblr-12479	448	12	reject	reject	VERB
cblr-12479	448	13	this	this	DET
cblr-12479	448	14	approach	approach	NOUN
cblr-12479	448	15	.	.	PUNCT
cblr-12479	448	16	”	"	PUNCT
cblr-12479	449	1	holger	holger	PROPN
cblr-12479	449	2	fleischer	fleischer	NOUN
cblr-12479	449	3	,	,	PUNCT
cblr-12479	449	4	comparative	comparative	ADJ
cblr-12479	449	5	corporate	corporate	ADJ
cblr-12479	449	6	governance	governance	NOUN
cblr-12479	449	7	in	in	ADP
cblr-12479	449	8	closely	closely	ADV
cblr-12479	449	9	held	hold	VERB
cblr-12479	449	10	corporations	corporation	NOUN
cblr-12479	449	11	,	,	PUNCT
cblr-12479	449	12	in	in	ADP
cblr-12479	449	13	the	the	DET
cblr-12479	449	14	oxford	oxford	PROPN
cblr-12479	449	15	handbook	handbook	NOUN
cblr-12479	449	16	of	of	ADP
cblr-12479	449	17	corporate	corporate	ADJ
cblr-12479	449	18	law	law	NOUN
cblr-12479	449	19	and	and	CCONJ
cblr-12479	449	20	governance	governance	NOUN
cblr-12479	449	21	679	679	NUM
cblr-12479	449	22	,	,	PUNCT
cblr-12479	449	23	690	690	NUM
cblr-12479	449	24	(	(	PUNCT
cblr-12479	449	25	jeffrey	jeffrey	PROPN
cblr-12479	449	26	n.	n.	PROPN
cblr-12479	449	27	gordon	gordon	PROPN
cblr-12479	449	28	&	&	CCONJ
cblr-12479	449	29	wolfgeorg	wolfgeorg	PROPN
cblr-12479	449	30	ringe	ringe	NOUN
cblr-12479	449	31	eds	ed	NOUN
cblr-12479	449	32	.	.	PROPN
cblr-12479	449	33	,	,	PUNCT
cblr-12479	449	34	2016	2016	NUM
cblr-12479	449	35	)	)	PUNCT
cblr-12479	449	36	;	;	PUNCT
cblr-12479	449	37	cf	cf	X
cblr-12479	449	38	.	.	PUNCT
cblr-12479	450	1	mock	mock	ADJ
cblr-12479	450	2	,	,	PUNCT
cblr-12479	450	3	csach	csach	NOUN
cblr-12479	450	4	&	&	CCONJ
cblr-12479	450	5	havel	havel	PROPN
cblr-12479	450	6	,	,	PUNCT
cblr-12479	450	7	supra	supra	PROPN
cblr-12479	450	8	note	note	NOUN
cblr-12479	450	9	140	140	NUM
cblr-12479	450	10	,	,	PUNCT
cblr-12479	450	11	at	at	ADP
cblr-12479	450	12	40	40	NUM
cblr-12479	450	13	-	-	SYM
cblr-12479	450	14	41	41	NUM
cblr-12479	450	15	(	(	PUNCT
cblr-12479	450	16	highlighting	highlight	VERB
cblr-12479	450	17	certain	certain	ADJ
cblr-12479	450	18	exceptions	exception	NOUN
cblr-12479	450	19	:	:	PUNCT
cblr-12479	450	20	“	"	PUNCT
cblr-12479	450	21	[	[	X
cblr-12479	450	22	a]ccording	a]ccorde	VERB
cblr-12479	450	23	to	to	PART
cblr-12479	450	24	(	(	PUNCT
cblr-12479	450	25	often	often	ADV
cblr-12479	450	26	criticised	criticise	VERB
cblr-12479	450	27	)	)	PUNCT
cblr-12479	450	28	german	german	ADJ
cblr-12479	450	29	or	or	CCONJ
cblr-12479	450	30	even	even	ADV
cblr-12479	450	31	austrian	austrian	ADJ
cblr-12479	450	32	case	case	NOUN
cblr-12479	450	33	law	law	NOUN
cblr-12479	450	34	the	the	DET
cblr-12479	450	35	conflict	conflict	NOUN
cblr-12479	450	36	of	of	ADP
cblr-12479	450	37	a	a	DET
cblr-12479	450	38	decision	decision	NOUN
cblr-12479	450	39	of	of	ADP
cblr-12479	450	40	the	the	DET
cblr-12479	450	41	general	general	ADJ
cblr-12479	450	42	meeting	meeting	NOUN
cblr-12479	450	43	with	with	ADP
cblr-12479	450	44	the	the	DET
cblr-12479	450	45	agreement	agreement	NOUN
cblr-12479	450	46	of	of	ADP
cblr-12479	450	47	all	all	PRON
cblr-12479	450	48	of	of	ADP
cblr-12479	450	49	the	the	DET
cblr-12479	450	50	company′s	company′s	NOUN
cblr-12479	450	51	shareholders	shareholder	NOUN
cblr-12479	450	52	is	be	AUX
cblr-12479	450	53	a	a	DET
cblr-12479	450	54	reason	reason	NOUN
cblr-12479	450	55	to	to	PART
cblr-12479	450	56	render	render	VERB
cblr-12479	450	57	such	such	DET
cblr-12479	450	58	a	a	DET
cblr-12479	450	59	decision	decision	NOUN
cblr-12479	450	60	void	void	ADJ
cblr-12479	450	61	as	as	SCONJ
cblr-12479	450	62	if	if	SCONJ
cblr-12479	450	63	the	the	DET
cblr-12479	450	64	articles	article	NOUN
cblr-12479	450	65	of	of	ADP
cblr-12479	450	66	association	association	NOUN
cblr-12479	450	67	have	have	AUX
cblr-12479	450	68	been	be	AUX
cblr-12479	450	69	violated	violate	VERB
cblr-12479	450	70	.	.	PUNCT
cblr-12479	450	71	”	"	PUNCT
cblr-12479	450	72	)	)	PUNCT
cblr-12479	450	73	.	.	PUNCT
cblr-12479	451	1	142	142	NUM
cblr-12479	451	2	camille	camille	PROPN
cblr-12479	451	3	madelon	madelon	PROPN
cblr-12479	451	4	&	&	CCONJ
cblr-12479	451	5	steen	steen	PROPN
cblr-12479	451	6	thomsen	thomsen	PROPN
cblr-12479	451	7	,	,	PUNCT
cblr-12479	451	8	contracting	contract	VERB
cblr-12479	451	9	around	around	ADP
cblr-12479	451	10	ownership	ownership	NOUN
cblr-12479	451	11	:	:	PUNCT
cblr-12479	451	12	shareholder	shareholder	NOUN
cblr-12479	451	13	agreements	agreement	NOUN
cblr-12479	451	14	in	in	ADP
cblr-12479	451	15	france	france	PROPN
cblr-12479	451	16	,	,	PUNCT
cblr-12479	451	17	in	in	ADP
cblr-12479	451	18	the	the	DET
cblr-12479	451	19	modern	modern	ADJ
cblr-12479	451	20	firm	firm	NOUN
cblr-12479	451	21	,	,	PUNCT
cblr-12479	451	22	corporate	corporate	ADJ
cblr-12479	451	23	governance	governance	NOUN
cblr-12479	451	24	and	and	CCONJ
cblr-12479	451	25	investment	investment	NOUN
cblr-12479	451	26	253	253	NUM
cblr-12479	451	27	(	(	PUNCT
cblr-12479	451	28	per	per	ADP
cblr-12479	451	29	-	-	PUNCT
cblr-12479	451	30	olof	olof	NOUN
cblr-12479	451	31	bjuggren	bjuggren	PROPN
cblr-12479	451	32	&	&	CCONJ
cblr-12479	451	33	dennis	dennis	PROPN
cblr-12479	451	34	c.	c.	PROPN
cblr-12479	451	35	mueller	mueller	PROPN
cblr-12479	451	36	eds	eds	PROPN
cblr-12479	451	37	.	.	PROPN
cblr-12479	451	38	,	,	PUNCT
cblr-12479	451	39	2009	2009	NUM
cblr-12479	451	40	)	)	PUNCT
cblr-12479	451	41	.	.	PUNCT
cblr-12479	452	1	no	no	INTJ
cblr-12479	452	2	.	.	NOUN
cblr-12479	453	1	2	2	NUM
cblr-12479	453	2	]	]	PUNCT
cblr-12479	453	3	the	the	DET
cblr-12479	453	4	law	law	NOUN
cblr-12479	453	5	of	of	ADP
cblr-12479	453	6	contingent	contingent	NOUN
cblr-12479	453	7	control	control	NOUN
cblr-12479	453	8	711	711	NUM
cblr-12479	453	9	v.	v.	ADP
cblr-12479	453	10	shareholders	shareholder	NOUN
cblr-12479	453	11	’	'	PUNCT
cblr-12479	453	12	agreements	agreement	NOUN
cblr-12479	453	13	’	'	PUNCT
cblr-12479	453	14	threat	threat	NOUN
cblr-12479	453	15	to	to	ADP
cblr-12479	453	16	corporate	corporate	ADJ
cblr-12479	453	17	law	law	NOUN
cblr-12479	453	18	and	and	CCONJ
cblr-12479	453	19	vc	vc	PROPN
cblr-12479	453	20	markets	market	NOUN
cblr-12479	453	21	shareholders	shareholder	NOUN
cblr-12479	453	22	’	'	PUNCT
cblr-12479	453	23	agreements	agreement	NOUN
cblr-12479	453	24	with	with	ADP
cblr-12479	453	25	adequate	adequate	ADJ
cblr-12479	453	26	liquidated	liquidate	VERB
cblr-12479	453	27	damages	damage	NOUN
cblr-12479	453	28	can	can	AUX
cblr-12479	453	29	be	be	AUX
cblr-12479	453	30	functionally	functionally	ADV
cblr-12479	453	31	equivalent	equivalent	ADJ
cblr-12479	453	32	to	to	ADP
cblr-12479	453	33	corporate	corporate	ADJ
cblr-12479	453	34	law	law	NOUN
cblr-12479	453	35	instruments	instrument	NOUN
cblr-12479	453	36	in	in	ADP
cblr-12479	453	37	ensuring	ensure	VERB
cblr-12479	453	38	that	that	SCONJ
cblr-12479	453	39	control	control	NOUN
cblr-12479	453	40	rights	right	NOUN
cblr-12479	453	41	are	be	AUX
cblr-12479	453	42	allocated	allocate	VERB
cblr-12479	453	43	to	to	ADP
cblr-12479	453	44	and	and	CCONJ
cblr-12479	453	45	exercised	exercise	VERB
cblr-12479	453	46	by	by	ADP
cblr-12479	453	47	different	different	ADJ
cblr-12479	453	48	shareholders	shareholder	NOUN
cblr-12479	453	49	at	at	ADP
cblr-12479	453	50	various	various	ADJ
cblr-12479	453	51	stages	stage	NOUN
cblr-12479	453	52	of	of	ADP
cblr-12479	453	53	the	the	DET
cblr-12479	453	54	startup	startup	NOUN
cblr-12479	453	55	’s	’s	PART
cblr-12479	453	56	lifecycle	lifecycle	NOUN
cblr-12479	453	57	.	.	PUNCT
cblr-12479	454	1	however	however	ADV
cblr-12479	454	2	,	,	PUNCT
cblr-12479	454	3	allowing	allow	VERB
cblr-12479	454	4	shareholders	shareholder	NOUN
cblr-12479	454	5	’	'	PUNCT
cblr-12479	454	6	agreements	agreement	NOUN
cblr-12479	454	7	to	to	PART
cblr-12479	454	8	become	become	VERB
cblr-12479	454	9	the	the	DET
cblr-12479	454	10	main	main	ADJ
cblr-12479	454	11	governance	governance	NOUN
cblr-12479	454	12	instrument	instrument	NOUN
cblr-12479	454	13	for	for	ADP
cblr-12479	454	14	vc	vc	NOUN
cblr-12479	454	15	-	-	PUNCT
cblr-12479	454	16	backed	back	VERB
cblr-12479	454	17	firms	firm	NOUN
cblr-12479	454	18	could	could	AUX
cblr-12479	454	19	have	have	VERB
cblr-12479	454	20	adverse	adverse	ADJ
cblr-12479	454	21	consequences	consequence	NOUN
cblr-12479	454	22	for	for	ADP
cblr-12479	454	23	vc	vc	PROPN
cblr-12479	454	24	markets	market	NOUN
cblr-12479	454	25	and	and	CCONJ
cblr-12479	454	26	legal	legal	ADJ
cblr-12479	454	27	systems	system	NOUN
cblr-12479	454	28	in	in	ADP
cblr-12479	454	29	the	the	DET
cblr-12479	454	30	long	long	ADJ
cblr-12479	454	31	haul	haul	NOUN
cblr-12479	454	32	.	.	PUNCT
cblr-12479	455	1	to	to	PART
cblr-12479	455	2	discern	discern	VERB
cblr-12479	455	3	specific	specific	ADJ
cblr-12479	455	4	issues	issue	NOUN
cblr-12479	455	5	derived	derive	VERB
cblr-12479	455	6	from	from	ADP
cblr-12479	455	7	this	this	DET
cblr-12479	455	8	trend	trend	NOUN
cblr-12479	455	9	,	,	PUNCT
cblr-12479	455	10	this	this	DET
cblr-12479	455	11	part	part	NOUN
cblr-12479	455	12	first	first	ADV
cblr-12479	455	13	uses	use	VERB
cblr-12479	455	14	rauterberg	rauterberg	PROPN
cblr-12479	455	15	’s	’s	PART
cblr-12479	455	16	framework	framework	NOUN
cblr-12479	455	17	to	to	PART
cblr-12479	455	18	distinguish	distinguish	VERB
cblr-12479	455	19	vertical	vertical	ADJ
cblr-12479	455	20	from	from	ADP
cblr-12479	455	21	horizontal	horizontal	ADJ
cblr-12479	455	22	agreements.143	agreements.143	NOUN
cblr-12479	455	23	subsequently	subsequently	ADV
cblr-12479	455	24	,	,	PUNCT
cblr-12479	455	25	it	it	PRON
cblr-12479	455	26	argues	argue	VERB
cblr-12479	455	27	that	that	SCONJ
cblr-12479	455	28	the	the	DET
cblr-12479	455	29	widespread	widespread	ADJ
cblr-12479	455	30	use	use	NOUN
cblr-12479	455	31	of	of	ADP
cblr-12479	455	32	shareholders	shareholder	NOUN
cblr-12479	455	33	’	'	PUNCT
cblr-12479	455	34	agreements	agreement	NOUN
cblr-12479	455	35	as	as	ADP
cblr-12479	455	36	substitutes	substitute	NOUN
cblr-12479	455	37	for	for	ADP
cblr-12479	455	38	corporate	corporate	ADJ
cblr-12479	455	39	law	law	NOUN
cblr-12479	455	40	instruments	instrument	NOUN
cblr-12479	455	41	hinders	hinder	VERB
cblr-12479	455	42	crucial	crucial	ADJ
cblr-12479	455	43	transaction	transaction	NOUN
cblr-12479	455	44	costs	cost	NOUN
cblr-12479	455	45	reductions	reduction	NOUN
cblr-12479	455	46	.	.	PUNCT
cblr-12479	456	1	a.	a.	NOUN
cblr-12479	456	2	vertical	vertical	PROPN
cblr-12479	456	3	agreements	agreement	NOUN
cblr-12479	456	4	vertical	vertical	ADJ
cblr-12479	456	5	shareholders	shareholder	NOUN
cblr-12479	456	6	’	'	PUNCT
cblr-12479	456	7	agreements	agreement	NOUN
cblr-12479	456	8	are	be	AUX
cblr-12479	456	9	contracts	contract	NOUN
cblr-12479	456	10	between	between	ADP
cblr-12479	456	11	the	the	DET
cblr-12479	456	12	corporation	corporation	NOUN
cblr-12479	456	13	and	and	CCONJ
cblr-12479	456	14	some	some	PRON
cblr-12479	456	15	or	or	CCONJ
cblr-12479	456	16	all	all	DET
cblr-12479	456	17	shareholders	shareholder	NOUN
cblr-12479	456	18	.	.	PUNCT
cblr-12479	457	1	a	a	DET
cblr-12479	457	2	distinctive	distinctive	ADJ
cblr-12479	457	3	aspect	aspect	NOUN
cblr-12479	457	4	of	of	ADP
cblr-12479	457	5	these	these	DET
cblr-12479	457	6	agreements	agreement	NOUN
cblr-12479	457	7	is	be	AUX
cblr-12479	457	8	that	that	SCONJ
cblr-12479	457	9	the	the	DET
cblr-12479	457	10	legal	legal	ADJ
cblr-12479	457	11	entity	entity	NOUN
cblr-12479	457	12	assumes	assume	VERB
cblr-12479	457	13	some	some	DET
cblr-12479	457	14	commitments	commitment	NOUN
cblr-12479	457	15	,	,	PUNCT
cblr-12479	457	16	which	which	PRON
cblr-12479	457	17	could	could	AUX
cblr-12479	457	18	be	be	AUX
cblr-12479	457	19	used	use	VERB
cblr-12479	457	20	to	to	PART
cblr-12479	457	21	circumvent	circumvent	VERB
cblr-12479	457	22	mandatory	mandatory	ADJ
cblr-12479	457	23	procedures	procedure	NOUN
cblr-12479	457	24	in	in	ADP
cblr-12479	457	25	corporate	corporate	ADJ
cblr-12479	457	26	law	law	NOUN
cblr-12479	457	27	,	,	PUNCT
cblr-12479	457	28	such	such	ADJ
cblr-12479	457	29	as	as	ADP
cblr-12479	457	30	voting	voting	NOUN
cblr-12479	457	31	requirements	requirement	NOUN
cblr-12479	457	32	to	to	PART
cblr-12479	457	33	approve	approve	VERB
cblr-12479	457	34	certain	certain	ADJ
cblr-12479	457	35	decisions	decision	NOUN
cblr-12479	457	36	.	.	PUNCT
cblr-12479	458	1	mergers	merger	NOUN
cblr-12479	458	2	,	,	PUNCT
cblr-12479	458	3	for	for	ADP
cblr-12479	458	4	example	example	NOUN
cblr-12479	458	5	,	,	PUNCT
cblr-12479	458	6	must	must	AUX
cblr-12479	458	7	be	be	AUX
cblr-12479	458	8	approved	approve	VERB
cblr-12479	458	9	by	by	ADP
cblr-12479	458	10	a	a	DET
cblr-12479	458	11	qualified	qualified	ADJ
cblr-12479	458	12	majority	majority	NOUN
cblr-12479	458	13	,	,	PUNCT
cblr-12479	458	14	which	which	PRON
cblr-12479	458	15	in	in	ADP
cblr-12479	458	16	most	most	ADJ
cblr-12479	458	17	countries	country	NOUN
cblr-12479	458	18	is	be	AUX
cblr-12479	458	19	a	a	DET
cblr-12479	458	20	minimum	minimum	NOUN
cblr-12479	458	21	of	of	ADP
cblr-12479	458	22	70	70	NUM
cblr-12479	458	23	%	%	NOUN
cblr-12479	458	24	of	of	ADP
cblr-12479	458	25	the	the	DET
cblr-12479	458	26	voting	voting	NOUN
cblr-12479	458	27	shares.144	shares.144	PROPN
cblr-12479	458	28	the	the	DET
cblr-12479	458	29	corporation	corporation	NOUN
cblr-12479	458	30	may	may	AUX
cblr-12479	458	31	use	use	VERB
cblr-12479	458	32	a	a	DET
cblr-12479	458	33	vertical	vertical	ADJ
cblr-12479	458	34	agreement	agreement	NOUN
cblr-12479	458	35	to	to	PART
cblr-12479	458	36	grant	grant	VERB
cblr-12479	458	37	a	a	DET
cblr-12479	458	38	veto	veto	NOUN
cblr-12479	458	39	right	right	NOUN
cblr-12479	458	40	to	to	ADP
cblr-12479	458	41	an	an	DET
cblr-12479	458	42	investor	investor	NOUN
cblr-12479	458	43	that	that	PRON
cblr-12479	458	44	does	do	AUX
cblr-12479	458	45	not	not	PART
cblr-12479	458	46	hold	hold	VERB
cblr-12479	458	47	the	the	DET
cblr-12479	458	48	voting	voting	NOUN
cblr-12479	458	49	majority	majority	NOUN
cblr-12479	458	50	,	,	PUNCT
cblr-12479	458	51	by	by	ADP
cblr-12479	458	52	committing	commit	VERB
cblr-12479	458	53	to	to	PART
cblr-12479	458	54	approve	approve	VERB
cblr-12479	458	55	mergers	merger	NOUN
cblr-12479	458	56	only	only	ADV
cblr-12479	458	57	with	with	ADP
cblr-12479	458	58	the	the	DET
cblr-12479	458	59	consent	consent	NOUN
cblr-12479	458	60	of	of	ADP
cblr-12479	458	61	said	say	VERB
cblr-12479	458	62	shareholder	shareholder	NOUN
cblr-12479	458	63	.	.	PUNCT
cblr-12479	459	1	145	145	NUM
cblr-12479	459	2	by	by	ADP
cblr-12479	459	3	including	include	VERB
cblr-12479	459	4	liquidated	liquidate	VERB
cblr-12479	459	5	damages	damage	NOUN
cblr-12479	459	6	(	(	PUNCT
cblr-12479	459	7	or	or	CCONJ
cblr-12479	459	8	an	an	DET
cblr-12479	459	9	143	143	NUM
cblr-12479	459	10	see	see	NOUN
cblr-12479	459	11	rauterberg	rauterberg	NOUN
cblr-12479	459	12	,	,	PUNCT
cblr-12479	459	13	supra	supra	PROPN
cblr-12479	459	14	note	note	NOUN
cblr-12479	459	15	20	20	NUM
cblr-12479	459	16	,	,	PUNCT
cblr-12479	459	17	at	at	ADP
cblr-12479	459	18	1158	1158	NUM
cblr-12479	459	19	-	-	SYM
cblr-12479	459	20	62	62	NUM
cblr-12479	459	21	.	.	PUNCT
cblr-12479	460	1	144	144	NUM
cblr-12479	460	2	andreas	andreas	PROPN
cblr-12479	460	3	cahn	cahn	PROPN
cblr-12479	460	4	&	&	CCONJ
cblr-12479	460	5	david	david	PROPN
cblr-12479	460	6	c.	c.	PROPN
cblr-12479	460	7	donald	donald	PROPN
cblr-12479	460	8	,	,	PUNCT
cblr-12479	460	9	comparative	comparative	ADJ
cblr-12479	460	10	company	company	NOUN
cblr-12479	460	11	law	law	NOUN
cblr-12479	460	12	:	:	PUNCT
cblr-12479	460	13	text	text	NOUN
cblr-12479	460	14	and	and	CCONJ
cblr-12479	460	15	cases	case	NOUN
cblr-12479	460	16	on	on	ADP
cblr-12479	460	17	the	the	DET
cblr-12479	460	18	laws	law	NOUN
cblr-12479	460	19	governing	govern	VERB
cblr-12479	460	20	corporations	corporation	NOUN
cblr-12479	460	21	in	in	ADP
cblr-12479	460	22	germany	germany	PROPN
cblr-12479	460	23	,	,	PUNCT
cblr-12479	460	24	the	the	DET
cblr-12479	460	25	uk	uk	PROPN
cblr-12479	460	26	and	and	CCONJ
cblr-12479	460	27	the	the	DET
cblr-12479	460	28	usa	usa	PROPN
cblr-12479	460	29	802–10	802–10	NUM
cblr-12479	460	30	(	(	PUNCT
cblr-12479	460	31	2d	2d	NUM
cblr-12479	460	32	ed	ed	NOUN
cblr-12479	460	33	.	.	PROPN
cblr-12479	460	34	2018	2018	NUM
cblr-12479	460	35	)	)	PUNCT
cblr-12479	460	36	.	.	PUNCT
cblr-12479	461	1	145	145	NUM
cblr-12479	461	2	see	see	VERB
cblr-12479	461	3	,	,	PUNCT
cblr-12479	461	4	e.g.	e.g.	ADV
cblr-12479	461	5	,	,	PUNCT
cblr-12479	461	6	brit	brit	PROPN
cblr-12479	461	7	.	.	PUNCT
cblr-12479	462	1	venture	venture	NOUN
cblr-12479	462	2	cap	cap	NOUN
cblr-12479	462	3	.	.	PUNCT
cblr-12479	463	1	ass’n	ass’n	ADV
cblr-12479	463	2	,	,	PUNCT
cblr-12479	463	3	supra	supra	PROPN
cblr-12479	463	4	note	note	NOUN
cblr-12479	463	5	127	127	NUM
cblr-12479	463	6	,	,	PUNCT
cblr-12479	463	7	at	at	ADP
cblr-12479	463	8	27	27	NUM
cblr-12479	463	9	-	-	SYM
cblr-12479	463	10	28	28	NUM
cblr-12479	463	11	(	(	PUNCT
cblr-12479	463	12	“	"	PUNCT
cblr-12479	463	13	matters	matter	NOUN
cblr-12479	463	14	requiring	require	VERB
cblr-12479	463	15	investor	investor	NOUN
cblr-12479	463	16	majority	majority	NOUN
cblr-12479	463	17	consent	consent	NOUN
cblr-12479	463	18	.	.	PUNCT
cblr-12479	463	19	.	.	PUNCT
cblr-12479	463	20	.	.	PUNCT
cblr-12479	464	1	.	.	PUNCT
cblr-12479	465	1	merge	merge	VERB
cblr-12479	465	2	the	the	DET
cblr-12479	465	3	company	company	NOUN
cblr-12479	465	4	(	(	PUNCT
cblr-12479	465	5	or	or	CCONJ
cblr-12479	465	6	permit	permit	VERB
cblr-12479	465	7	,	,	PUNCT
cblr-12479	465	8	consent	consent	VERB
cblr-12479	465	9	to	to	ADP
cblr-12479	465	10	or	or	CCONJ
cblr-12479	465	11	facilitate	facilitate	VERB
cblr-12479	465	12	any	any	DET
cblr-12479	465	13	such	such	ADJ
cblr-12479	465	14	merger	merger	NOUN
cblr-12479	465	15	in	in	ADP
cblr-12479	465	16	respect	respect	NOUN
cblr-12479	465	17	of	of	ADP
cblr-12479	465	18	any	any	DET
cblr-12479	465	19	other	other	ADJ
cblr-12479	465	20	712	712	NUM
cblr-12479	465	21	columbia	columbia	PROPN
cblr-12479	465	22	business	business	NOUN
cblr-12479	465	23	law	law	NOUN
cblr-12479	465	24	review	review	NOUN
cblr-12479	465	25	[	[	X
cblr-12479	465	26	vol	vol	NOUN
cblr-12479	465	27	.	.	PUNCT
cblr-12479	466	1	2023	2023	NUM
cblr-12479	466	2	obligation	obligation	NOUN
cblr-12479	466	3	of	of	ADP
cblr-12479	466	4	the	the	DET
cblr-12479	466	5	corporation	corporation	NOUN
cblr-12479	466	6	to	to	PART
cblr-12479	466	7	purchase	purchase	VERB
cblr-12479	466	8	the	the	DET
cblr-12479	466	9	contracting	contracting	NOUN
cblr-12479	466	10	party	party	NOUN
cblr-12479	466	11	’s	’s	PART
cblr-12479	466	12	shares	share	NOUN
cblr-12479	466	13	at	at	ADP
cblr-12479	466	14	a	a	DET
cblr-12479	466	15	premium	premium	ADJ
cblr-12479	466	16	price	price	NOUN
cblr-12479	466	17	)	)	PUNCT
cblr-12479	466	18	in	in	ADP
cblr-12479	466	19	case	case	NOUN
cblr-12479	466	20	of	of	ADP
cblr-12479	466	21	a	a	DET
cblr-12479	466	22	breach	breach	NOUN
cblr-12479	466	23	,	,	PUNCT
cblr-12479	466	24	the	the	DET
cblr-12479	466	25	veto	veto	NOUN
cblr-12479	466	26	shareholder	shareholder	NOUN
cblr-12479	466	27	secures	secure	VERB
cblr-12479	466	28	control	control	NOUN
cblr-12479	466	29	over	over	ADP
cblr-12479	466	30	mergers	merger	NOUN
cblr-12479	466	31	,	,	PUNCT
cblr-12479	466	32	even	even	ADV
cblr-12479	466	33	if	if	SCONJ
cblr-12479	466	34	an	an	DET
cblr-12479	466	35	injunction	injunction	NOUN
cblr-12479	466	36	is	be	AUX
cblr-12479	466	37	unavailable	unavailable	ADJ
cblr-12479	466	38	:	:	PUNCT
cblr-12479	466	39	breaching	breach	VERB
cblr-12479	466	40	the	the	DET
cblr-12479	466	41	agreement	agreement	NOUN
cblr-12479	466	42	would	would	AUX
cblr-12479	466	43	be	be	AUX
cblr-12479	466	44	expensive	expensive	ADJ
cblr-12479	466	45	for	for	ADP
cblr-12479	466	46	the	the	DET
cblr-12479	466	47	corporation	corporation	NOUN
cblr-12479	466	48	,	,	PUNCT
cblr-12479	466	49	harm	harm	VERB
cblr-12479	466	50	all	all	DET
cblr-12479	466	51	shareholders	shareholder	NOUN
cblr-12479	466	52	,	,	PUNCT
cblr-12479	466	53	and	and	CCONJ
cblr-12479	466	54	expose	expose	VERB
cblr-12479	466	55	directors	director	NOUN
cblr-12479	466	56	to	to	ADP
cblr-12479	466	57	high	high	ADJ
cblr-12479	466	58	litigation	litigation	NOUN
cblr-12479	466	59	risk	risk	NOUN
cblr-12479	466	60	.	.	PUNCT
cblr-12479	467	1	this	this	DET
cblr-12479	467	2	type	type	NOUN
cblr-12479	467	3	of	of	ADP
cblr-12479	467	4	vertical	vertical	ADJ
cblr-12479	467	5	agreement	agreement	NOUN
cblr-12479	467	6	directly	directly	ADV
cblr-12479	467	7	departs	depart	VERB
cblr-12479	467	8	from	from	ADP
cblr-12479	467	9	corporate	corporate	ADJ
cblr-12479	467	10	law	law	NOUN
cblr-12479	467	11	’s	’s	PART
cblr-12479	467	12	structural	structural	ADJ
cblr-12479	467	13	properties	property	NOUN
cblr-12479	467	14	conceived	conceive	VERB
cblr-12479	467	15	to	to	PART
cblr-12479	467	16	reduce	reduce	VERB
cblr-12479	467	17	agency	agency	NOUN
cblr-12479	467	18	problems	problem	NOUN
cblr-12479	467	19	.	.	PUNCT
cblr-12479	468	1	for	for	ADP
cblr-12479	468	2	example	example	NOUN
cblr-12479	468	3	,	,	PUNCT
cblr-12479	468	4	the	the	DET
cblr-12479	468	5	legal	legal	ADJ
cblr-12479	468	6	requirement	requirement	NOUN
cblr-12479	468	7	of	of	ADP
cblr-12479	468	8	a	a	DET
cblr-12479	468	9	qualified	qualified	ADJ
cblr-12479	468	10	voting	voting	NOUN
cblr-12479	468	11	majority	majority	NOUN
cblr-12479	468	12	approval	approval	NOUN
cblr-12479	468	13	of	of	ADP
cblr-12479	468	14	fundamental	fundamental	ADJ
cblr-12479	468	15	transactions	transaction	NOUN
cblr-12479	468	16	is	be	AUX
cblr-12479	468	17	aimed	aim	VERB
cblr-12479	468	18	at	at	ADP
cblr-12479	468	19	diminishing	diminish	VERB
cblr-12479	468	20	opportunism.146	opportunism.146	ADP
cblr-12479	468	21	shareholders	shareholder	NOUN
cblr-12479	468	22	with	with	ADP
cblr-12479	468	23	enough	enough	ADJ
cblr-12479	468	24	voting	voting	NOUN
cblr-12479	468	25	rights	right	NOUN
cblr-12479	468	26	to	to	PART
cblr-12479	468	27	approve	approve	VERB
cblr-12479	468	28	those	those	DET
cblr-12479	468	29	transactions	transaction	NOUN
cblr-12479	468	30	have	have	VERB
cblr-12479	468	31	controller	controller	NOUN
cblr-12479	468	32	fiduciary	fiduciary	ADJ
cblr-12479	468	33	duties	duty	NOUN
cblr-12479	468	34	and	and	CCONJ
cblr-12479	468	35	may	may	AUX
cblr-12479	468	36	be	be	AUX
cblr-12479	468	37	held	hold	VERB
cblr-12479	468	38	accountable	accountable	ADJ
cblr-12479	468	39	by	by	ADP
cblr-12479	468	40	the	the	DET
cblr-12479	468	41	corporation	corporation	NOUN
cblr-12479	468	42	or	or	CCONJ
cblr-12479	468	43	minority	minority	NOUN
cblr-12479	468	44	shareholders	shareholder	NOUN
cblr-12479	468	45	if	if	SCONJ
cblr-12479	468	46	they	they	PRON
cblr-12479	468	47	breach	breach	VERB
cblr-12479	468	48	them.147	them.147	NOUN
cblr-12479	468	49	additional	additional	ADJ
cblr-12479	468	50	legal	legal	ADJ
cblr-12479	468	51	strategies	strategy	NOUN
cblr-12479	468	52	,	,	PUNCT
cblr-12479	468	53	such	such	ADJ
cblr-12479	468	54	as	as	ADP
cblr-12479	468	55	requiring	require	VERB
cblr-12479	468	56	a	a	DET
cblr-12479	468	57	majority	majority	NOUN
cblr-12479	468	58	of	of	ADP
cblr-12479	468	59	the	the	DET
cblr-12479	468	60	minority	minority	NOUN
cblr-12479	468	61	to	to	PART
cblr-12479	468	62	approve	approve	VERB
cblr-12479	468	63	specific	specific	ADJ
cblr-12479	468	64	transactions	transaction	NOUN
cblr-12479	468	65	,	,	PUNCT
cblr-12479	468	66	are	be	AUX
cblr-12479	468	67	meant	mean	VERB
cblr-12479	468	68	to	to	PART
cblr-12479	468	69	further	far	ADV
cblr-12479	468	70	alleviate	alleviate	VERB
cblr-12479	468	71	agency	agency	NOUN
cblr-12479	468	72	problems.148	problems.148	NOUN
cblr-12479	468	73	hence	hence	ADV
cblr-12479	468	74	,	,	PUNCT
cblr-12479	468	75	while	while	SCONJ
cblr-12479	468	76	veto	veto	NOUN
cblr-12479	468	77	rights	right	NOUN
cblr-12479	468	78	may	may	AUX
cblr-12479	468	79	enable	enable	VERB
cblr-12479	468	80	efficient	efficient	ADJ
cblr-12479	468	81	financial	financial	ADJ
cblr-12479	468	82	contracts	contract	NOUN
cblr-12479	468	83	in	in	ADP
cblr-12479	468	84	certain	certain	ADJ
cblr-12479	468	85	circumstances	circumstance	NOUN
cblr-12479	468	86	,	,	PUNCT
cblr-12479	468	87	their	their	PRON
cblr-12479	468	88	introduction	introduction	NOUN
cblr-12479	468	89	through	through	ADP
cblr-12479	468	90	vertical	vertical	ADJ
cblr-12479	468	91	shareholders	shareholder	NOUN
cblr-12479	468	92	’	'	PUNCT
cblr-12479	468	93	agreements	agreement	NOUN
cblr-12479	468	94	should	should	AUX
cblr-12479	468	95	be	be	AUX
cblr-12479	468	96	discouraged	discourage	VERB
cblr-12479	468	97	,	,	PUNCT
cblr-12479	468	98	as	as	SCONJ
cblr-12479	468	99	it	it	PRON
cblr-12479	468	100	sacrifices	sacrifice	VERB
cblr-12479	468	101	essential	essential	ADJ
cblr-12479	468	102	corporate	corporate	ADJ
cblr-12479	468	103	law	law	NOUN
cblr-12479	468	104	protections	protection	NOUN
cblr-12479	468	105	for	for	ADP
cblr-12479	468	106	non	non	ADJ
cblr-12479	468	107	-	-	ADJ
cblr-12479	468	108	veto	veto	ADJ
cblr-12479	468	109	shareholders	shareholder	NOUN
cblr-12479	468	110	.	.	PUNCT
cblr-12479	469	1	vertical	vertical	ADJ
cblr-12479	469	2	agreements	agreement	NOUN
cblr-12479	469	3	may	may	AUX
cblr-12479	469	4	also	also	ADV
cblr-12479	469	5	include	include	VERB
cblr-12479	469	6	commitments	commitment	NOUN
cblr-12479	469	7	from	from	ADP
cblr-12479	469	8	shareholders	shareholder	NOUN
cblr-12479	469	9	to	to	ADP
cblr-12479	469	10	the	the	DET
cblr-12479	469	11	corporation	corporation	NOUN
cblr-12479	469	12	and	and	CCONJ
cblr-12479	469	13	to	to	ADP
cblr-12479	469	14	other	other	ADJ
cblr-12479	469	15	shareholders	shareholder	NOUN
cblr-12479	469	16	.	.	PUNCT
cblr-12479	470	1	in	in	ADP
cblr-12479	470	2	the	the	DET
cblr-12479	470	3	u.s	u.s	PROPN
cblr-12479	470	4	.	.	PROPN
cblr-12479	470	5	,	,	PUNCT
cblr-12479	470	6	some	some	PRON
cblr-12479	470	7	of	of	ADP
cblr-12479	470	8	the	the	DET
cblr-12479	470	9	most	most	ADV
cblr-12479	470	10	common	common	ADJ
cblr-12479	470	11	shareholder	shareholder	NOUN
cblr-12479	470	12	commitments	commitment	NOUN
cblr-12479	470	13	in	in	ADP
cblr-12479	470	14	vertical	vertical	ADJ
cblr-12479	470	15	agreements	agreement	NOUN
cblr-12479	470	16	are	be	AUX
cblr-12479	470	17	waivers	waiver	NOUN
cblr-12479	470	18	of	of	ADP
cblr-12479	470	19	inspection	inspection	NOUN
cblr-12479	470	20	rights	right	NOUN
cblr-12479	470	21	,	,	PUNCT
cblr-12479	470	22	appraisal	appraisal	NOUN
cblr-12479	470	23	rights	right	NOUN
cblr-12479	470	24	,	,	PUNCT
cblr-12479	470	25	and	and	CCONJ
cblr-12479	470	26	rights	right	NOUN
cblr-12479	470	27	to	to	PART
cblr-12479	470	28	forum	forum	VERB
cblr-12479	470	29	selection	selection	NOUN
cblr-12479	470	30	for	for	ADP
cblr-12479	470	31	dispute	dispute	NOUN
cblr-12479	470	32	resolution.149	resolution.149	NOUN
cblr-12479	470	33	although	although	SCONJ
cblr-12479	470	34	their	their	PRON
cblr-12479	470	35	widespread	widespread	ADJ
cblr-12479	470	36	use	use	NOUN
cblr-12479	470	37	in	in	ADP
cblr-12479	470	38	the	the	DET
cblr-12479	470	39	u.s	u.s	PROPN
cblr-12479	470	40	.	.	PROPN
cblr-12479	470	41	suggests	suggest	VERB
cblr-12479	470	42	waivers	waiver	NOUN
cblr-12479	470	43	are	be	AUX
cblr-12479	470	44	valued	value	VERB
cblr-12479	470	45	by	by	ADP
cblr-12479	470	46	vcs	vcs	PROPN
cblr-12479	470	47	,	,	PUNCT
cblr-12479	470	48	they	they	PRON
cblr-12479	470	49	insulate	insulate	VERB
cblr-12479	470	50	control	control	NOUN
cblr-12479	470	51	group	group	NOUN
cblr-12479	470	52	company	company	NOUN
cblr-12479	470	53	)	)	PUNCT
cblr-12479	470	54	or	or	CCONJ
cblr-12479	470	55	any	any	DET
cblr-12479	470	56	part	part	NOUN
cblr-12479	470	57	of	of	ADP
cblr-12479	470	58	its	its	PRON
cblr-12479	470	59	business	business	NOUN
cblr-12479	470	60	with	with	ADP
cblr-12479	470	61	any	any	DET
cblr-12479	470	62	other	other	ADJ
cblr-12479	470	63	person	person	NOUN
cblr-12479	470	64	or	or	CCONJ
cblr-12479	470	65	propose	propose	VERB
cblr-12479	470	66	to	to	PART
cblr-12479	470	67	do	do	VERB
cblr-12479	470	68	so	so	ADV
cblr-12479	470	69	”	"	PUNCT
cblr-12479	470	70	)	)	PUNCT
cblr-12479	470	71	.	.	PUNCT
cblr-12479	471	1	146	146	NUM
cblr-12479	471	2	see	see	VERB
cblr-12479	471	3	kraakman	kraakman	PROPN
cblr-12479	471	4	et	et	PROPN
cblr-12479	471	5	al	al	PROPN
cblr-12479	471	6	.	.	PROPN
cblr-12479	471	7	,	,	PUNCT
cblr-12479	471	8	supra	supra	PROPN
cblr-12479	471	9	note	note	VERB
cblr-12479	471	10	68	68	NUM
cblr-12479	471	11	at	at	ADP
cblr-12479	471	12	171–203	171–203	NUM
cblr-12479	471	13	.	.	PUNCT
cblr-12479	472	1	147	147	NUM
cblr-12479	472	2	for	for	ADP
cblr-12479	472	3	a	a	DET
cblr-12479	472	4	thorough	thorough	ADJ
cblr-12479	472	5	discussion	discussion	NOUN
cblr-12479	472	6	of	of	ADP
cblr-12479	472	7	the	the	DET
cblr-12479	472	8	duties	duty	NOUN
cblr-12479	472	9	of	of	ADP
cblr-12479	472	10	controlling	control	VERB
cblr-12479	472	11	shareholders	shareholder	NOUN
cblr-12479	472	12	,	,	PUNCT
cblr-12479	472	13	see	see	VERB
cblr-12479	472	14	ronald	ronald	PROPN
cblr-12479	472	15	j.	j.	PROPN
cblr-12479	472	16	gilson	gilson	PROPN
cblr-12479	472	17	&	&	CCONJ
cblr-12479	472	18	jeffrey	jeffrey	PROPN
cblr-12479	472	19	n.	n.	PROPN
cblr-12479	472	20	gordon	gordon	PROPN
cblr-12479	472	21	,	,	PUNCT
cblr-12479	472	22	controlling	control	VERB
cblr-12479	472	23	controlling	control	VERB
cblr-12479	472	24	shareholders	shareholder	NOUN
cblr-12479	472	25	,	,	PUNCT
cblr-12479	472	26	152	152	NUM
cblr-12479	472	27	univ	univ	PROPN
cblr-12479	472	28	.	.	PUNCT
cblr-12479	473	1	pa	pa	PROPN
cblr-12479	473	2	.	.	PROPN
cblr-12479	473	3	l.	l.	PROPN
cblr-12479	473	4	rev	rev	PROPN
cblr-12479	473	5	.	.	PROPN
cblr-12479	474	1	785	785	NUM
cblr-12479	474	2	(	(	PUNCT
cblr-12479	474	3	2003	2003	NUM
cblr-12479	474	4	)	)	PUNCT
cblr-12479	474	5	.	.	PUNCT
cblr-12479	475	1	148	148	NUM
cblr-12479	475	2	for	for	ADP
cblr-12479	475	3	an	an	DET
cblr-12479	475	4	overview	overview	NOUN
cblr-12479	475	5	of	of	ADP
cblr-12479	475	6	the	the	DET
cblr-12479	475	7	united	united	PROPN
cblr-12479	475	8	states	states	PROPN
cblr-12479	475	9	experience	experience	NOUN
cblr-12479	475	10	with	with	ADP
cblr-12479	475	11	this	this	DET
cblr-12479	475	12	strategy	strategy	NOUN
cblr-12479	475	13	(	(	PUNCT
cblr-12479	475	14	in	in	ADP
cblr-12479	475	15	public	public	ADJ
cblr-12479	475	16	companies	company	NOUN
cblr-12479	475	17	)	)	PUNCT
cblr-12479	475	18	see	see	VERB
cblr-12479	475	19	edward	edward	PROPN
cblr-12479	475	20	b.	b.	PROPN
cblr-12479	475	21	rock	rock	PROPN
cblr-12479	475	22	,	,	PUNCT
cblr-12479	475	23	majority	majority	NOUN
cblr-12479	475	24	of	of	ADP
cblr-12479	475	25	the	the	DET
cblr-12479	475	26	minority	minority	NOUN
cblr-12479	475	27	approval	approval	NOUN
cblr-12479	475	28	in	in	ADP
cblr-12479	475	29	a	a	DET
cblr-12479	475	30	world	world	NOUN
cblr-12479	475	31	of	of	ADP
cblr-12479	475	32	active	active	ADJ
cblr-12479	475	33	shareholders	shareholder	NOUN
cblr-12479	475	34	,	,	PUNCT
cblr-12479	475	35	in	in	ADP
cblr-12479	475	36	the	the	DET
cblr-12479	475	37	law	law	NOUN
cblr-12479	475	38	and	and	CCONJ
cblr-12479	475	39	finance	finance	NOUN
cblr-12479	475	40	of	of	ADP
cblr-12479	475	41	related	relate	VERB
cblr-12479	475	42	party	party	NOUN
cblr-12479	475	43	transactions	transaction	NOUN
cblr-12479	475	44	105	105	NUM
cblr-12479	475	45	(	(	PUNCT
cblr-12479	475	46	luca	luca	PROPN
cblr-12479	475	47	enriques	enriques	PROPN
cblr-12479	475	48	&	&	CCONJ
cblr-12479	475	49	tobias	tobias	PROPN
cblr-12479	475	50	h.	h.	PROPN
cblr-12479	475	51	tröger	tröger	PROPN
cblr-12479	475	52	eds	eds	PROPN
cblr-12479	475	53	.	.	PROPN
cblr-12479	475	54	,	,	PUNCT
cblr-12479	475	55	2019	2019	NUM
cblr-12479	475	56	)	)	PUNCT
cblr-12479	475	57	.	.	PUNCT
cblr-12479	476	1	149	149	NUM
cblr-12479	476	2	rauterberg	rauterberg	PROPN
cblr-12479	476	3	,	,	PUNCT
cblr-12479	476	4	supra	supra	ADJ
cblr-12479	476	5	note	note	NOUN
cblr-12479	476	6	20	20	NUM
cblr-12479	476	7	,	,	PUNCT
cblr-12479	476	8	at	at	ADP
cblr-12479	476	9	1166–1167	1166–1167	ADV
cblr-12479	476	10	.	.	PUNCT
cblr-12479	477	1	no	no	INTJ
cblr-12479	477	2	.	.	NOUN
cblr-12479	478	1	2	2	NUM
cblr-12479	478	2	]	]	PUNCT
cblr-12479	478	3	the	the	DET
cblr-12479	478	4	law	law	NOUN
cblr-12479	478	5	of	of	ADP
cblr-12479	478	6	contingent	contingent	NOUN
cblr-12479	478	7	control	control	VERB
cblr-12479	478	8	713	713	NUM
cblr-12479	478	9	allocation	allocation	NOUN
cblr-12479	478	10	from	from	ADP
cblr-12479	478	11	judicial	judicial	ADJ
cblr-12479	478	12	scrutiny	scrutiny	NOUN
cblr-12479	478	13	.	.	PUNCT
cblr-12479	479	1	this	this	DET
cblr-12479	479	2	practice	practice	NOUN
cblr-12479	479	3	not	not	PART
cblr-12479	479	4	only	only	ADV
cblr-12479	479	5	curtails	curtail	VERB
cblr-12479	479	6	opportunities	opportunity	NOUN
cblr-12479	479	7	for	for	ADP
cblr-12479	479	8	doctrinal	doctrinal	ADJ
cblr-12479	479	9	development	development	NOUN
cblr-12479	479	10	,	,	PUNCT
cblr-12479	479	11	but	but	CCONJ
cblr-12479	479	12	may	may	AUX
cblr-12479	479	13	also	also	ADV
cblr-12479	479	14	erode	erode	VERB
cblr-12479	479	15	parties	party	NOUN
cblr-12479	479	16	’	'	PUNCT
cblr-12479	479	17	trust	trust	NOUN
cblr-12479	479	18	prematurely	prematurely	ADV
cblr-12479	479	19	,	,	PUNCT
cblr-12479	479	20	by	by	ADP
cblr-12479	479	21	hindering	hinder	VERB
cblr-12479	479	22	entrepreneurs	entrepreneur	NOUN
cblr-12479	479	23	’	’	PART
cblr-12479	479	24	monitoring	monitoring	NOUN
cblr-12479	479	25	and	and	CCONJ
cblr-12479	479	26	litigation	litigation	NOUN
cblr-12479	479	27	rights	right	NOUN
cblr-12479	479	28	.	.	PUNCT
cblr-12479	480	1	now	now	ADV
cblr-12479	480	2	,	,	PUNCT
cblr-12479	480	3	even	even	ADV
cblr-12479	480	4	if	if	SCONJ
cblr-12479	480	5	they	they	PRON
cblr-12479	480	6	prove	prove	VERB
cblr-12479	480	7	useful	useful	ADJ
cblr-12479	480	8	for	for	ADP
cblr-12479	480	9	parties	party	NOUN
cblr-12479	480	10	to	to	ADP
cblr-12479	480	11	specific	specific	ADJ
cblr-12479	480	12	transactions	transaction	NOUN
cblr-12479	480	13	,	,	PUNCT
cblr-12479	480	14	enabling	enable	VERB
cblr-12479	480	15	the	the	DET
cblr-12479	480	16	waiver	waiver	NOUN
cblr-12479	480	17	of	of	ADP
cblr-12479	480	18	shareholders	shareholder	NOUN
cblr-12479	480	19	’	'	PUNCT
cblr-12479	480	20	monitoring	monitoring	NOUN
cblr-12479	480	21	and	and	CCONJ
cblr-12479	480	22	litigation	litigation	NOUN
cblr-12479	480	23	rights	right	NOUN
cblr-12479	480	24	could	could	AUX
cblr-12479	480	25	negatively	negatively	ADV
cblr-12479	480	26	affect	affect	VERB
cblr-12479	480	27	the	the	DET
cblr-12479	480	28	development	development	NOUN
cblr-12479	480	29	of	of	ADP
cblr-12479	480	30	startups	startup	NOUN
cblr-12479	480	31	and	and	CCONJ
cblr-12479	480	32	vc	vc	PROPN
cblr-12479	480	33	ecosystems	ecosystem	NOUN
cblr-12479	480	34	.	.	PUNCT
cblr-12479	481	1	startups	startup	NOUN
cblr-12479	481	2	’	'	PUNCT
cblr-12479	481	3	officers	officer	NOUN
cblr-12479	481	4	and	and	CCONJ
cblr-12479	481	5	directors	director	NOUN
cblr-12479	481	6	,	,	PUNCT
cblr-12479	481	7	who	who	PRON
cblr-12479	481	8	are	be	AUX
cblr-12479	481	9	not	not	PART
cblr-12479	481	10	exposed	expose	VERB
cblr-12479	481	11	to	to	ADP
cblr-12479	481	12	the	the	DET
cblr-12479	481	13	disciplining	discipline	VERB
cblr-12479	481	14	forces	force	NOUN
cblr-12479	481	15	of	of	ADP
cblr-12479	481	16	public	public	ADJ
cblr-12479	481	17	markets	market	NOUN
cblr-12479	481	18	,	,	PUNCT
cblr-12479	481	19	would	would	AUX
cblr-12479	481	20	also	also	ADV
cblr-12479	481	21	be	be	AUX
cblr-12479	481	22	shielded	shield	VERB
cblr-12479	481	23	from	from	ADP
cblr-12479	481	24	judicial	judicial	ADJ
cblr-12479	481	25	scrutiny	scrutiny	NOUN
cblr-12479	481	26	,	,	PUNCT
cblr-12479	481	27	undermining	undermine	VERB
cblr-12479	481	28	transparency	transparency	NOUN
cblr-12479	481	29	,	,	PUNCT
cblr-12479	481	30	shareholder	shareholder	NOUN
cblr-12479	481	31	protection	protection	NOUN
cblr-12479	481	32	,	,	PUNCT
cblr-12479	481	33	and	and	CCONJ
cblr-12479	481	34	the	the	DET
cblr-12479	481	35	quality	quality	NOUN
cblr-12479	481	36	of	of	ADP
cblr-12479	481	37	corporate	corporate	ADJ
cblr-12479	481	38	governance	governance	NOUN
cblr-12479	481	39	in	in	ADP
cblr-12479	481	40	these	these	DET
cblr-12479	481	41	companies	company	NOUN
cblr-12479	481	42	—	—	PUNCT
cblr-12479	481	43	all	all	PRON
cblr-12479	481	44	relevant	relevant	ADJ
cblr-12479	481	45	for	for	ADP
cblr-12479	481	46	the	the	DET
cblr-12479	481	47	development	development	NOUN
cblr-12479	481	48	of	of	ADP
cblr-12479	481	49	vc	vc	PROPN
cblr-12479	481	50	markets	market	NOUN
cblr-12479	481	51	.	.	PUNCT
cblr-12479	482	1	b.	b.	PROPN
cblr-12479	482	2	horizontal	horizontal	PROPN
cblr-12479	482	3	agreements	agreement	NOUN
cblr-12479	482	4	horizontal	horizontal	ADJ
cblr-12479	482	5	shareholders	shareholder	NOUN
cblr-12479	482	6	’	'	PUNCT
cblr-12479	482	7	agreements	agreement	NOUN
cblr-12479	482	8	are	be	AUX
cblr-12479	482	9	contracts	contract	NOUN
cblr-12479	482	10	between	between	ADP
cblr-12479	482	11	some	some	PRON
cblr-12479	482	12	or	or	CCONJ
cblr-12479	482	13	all	all	DET
cblr-12479	482	14	shareholders	shareholder	NOUN
cblr-12479	482	15	.	.	PUNCT
cblr-12479	483	1	they	they	PRON
cblr-12479	483	2	differ	differ	VERB
cblr-12479	483	3	from	from	ADP
cblr-12479	483	4	vertical	vertical	ADJ
cblr-12479	483	5	agreements	agreement	NOUN
cblr-12479	483	6	in	in	ADP
cblr-12479	483	7	that	that	SCONJ
cblr-12479	483	8	the	the	DET
cblr-12479	483	9	corporation	corporation	NOUN
cblr-12479	483	10	is	be	AUX
cblr-12479	483	11	not	not	PART
cblr-12479	483	12	a	a	DET
cblr-12479	483	13	party	party	NOUN
cblr-12479	483	14	and	and	CCONJ
cblr-12479	483	15	thus	thus	ADV
cblr-12479	483	16	can	can	AUX
cblr-12479	483	17	not	not	PART
cblr-12479	483	18	enforce	enforce	VERB
cblr-12479	483	19	any	any	DET
cblr-12479	483	20	commitment	commitment	NOUN
cblr-12479	483	21	.	.	PUNCT
cblr-12479	484	1	still	still	ADV
cblr-12479	484	2	,	,	PUNCT
cblr-12479	484	3	they	they	PRON
cblr-12479	484	4	could	could	AUX
cblr-12479	484	5	also	also	ADV
cblr-12479	484	6	be	be	AUX
cblr-12479	484	7	used	use	VERB
cblr-12479	484	8	to	to	PART
cblr-12479	484	9	waive	waive	VERB
cblr-12479	484	10	the	the	DET
cblr-12479	484	11	rights	right	NOUN
cblr-12479	484	12	of	of	ADP
cblr-12479	484	13	some	some	DET
cblr-12479	484	14	shareholders	shareholder	NOUN
cblr-12479	484	15	and	and	CCONJ
cblr-12479	484	16	would	would	AUX
cblr-12479	484	17	be	be	AUX
cblr-12479	484	18	thus	thus	ADV
cblr-12479	484	19	subject	subject	ADJ
cblr-12479	484	20	to	to	ADP
cblr-12479	484	21	the	the	DET
cblr-12479	484	22	preceding	precede	VERB
cblr-12479	484	23	objections	objection	NOUN
cblr-12479	484	24	if	if	SCONJ
cblr-12479	484	25	the	the	DET
cblr-12479	484	26	enforcement	enforcement	NOUN
cblr-12479	484	27	threat	threat	NOUN
cblr-12479	484	28	were	be	AUX
cblr-12479	484	29	credible	credible	ADJ
cblr-12479	484	30	.	.	PUNCT
cblr-12479	485	1	some	some	DET
cblr-12479	485	2	jurisdictions	jurisdiction	NOUN
cblr-12479	485	3	specifically	specifically	ADV
cblr-12479	485	4	recognize	recognize	VERB
cblr-12479	485	5	agreements	agreement	NOUN
cblr-12479	485	6	among	among	ADP
cblr-12479	485	7	shareholders	shareholder	NOUN
cblr-12479	485	8	but	but	CCONJ
cblr-12479	485	9	are	be	AUX
cblr-12479	485	10	silent	silent	ADJ
cblr-12479	485	11	on	on	ADP
cblr-12479	485	12	whether	whether	SCONJ
cblr-12479	485	13	the	the	DET
cblr-12479	485	14	corporation	corporation	NOUN
cblr-12479	485	15	could	could	AUX
cblr-12479	485	16	be	be	AUX
cblr-12479	485	17	a	a	DET
cblr-12479	485	18	contracting	contracting	NOUN
cblr-12479	485	19	party.150	party.150	NOUN
cblr-12479	485	20	these	these	DET
cblr-12479	485	21	regulatory	regulatory	ADJ
cblr-12479	485	22	environments	environment	NOUN
cblr-12479	485	23	further	far	ADV
cblr-12479	485	24	contribute	contribute	VERB
cblr-12479	485	25	to	to	ADP
cblr-12479	485	26	diminishing	diminish	VERB
cblr-12479	485	27	legal	legal	ADJ
cblr-12479	485	28	safeguards	safeguard	NOUN
cblr-12479	485	29	against	against	ADP
cblr-12479	485	30	agency	agency	NOUN
cblr-12479	485	31	problems	problem	NOUN
cblr-12479	485	32	,	,	PUNCT
cblr-12479	485	33	concealing	conceal	VERB
cblr-12479	485	34	the	the	DET
cblr-12479	485	35	waiver	waiver	NOUN
cblr-12479	485	36	of	of	ADP
cblr-12479	485	37	shareholders	shareholder	NOUN
cblr-12479	485	38	’	'	PUNCT
cblr-12479	485	39	rights	right	NOUN
cblr-12479	485	40	under	under	ADP
cblr-12479	485	41	a	a	DET
cblr-12479	485	42	veil	veil	NOUN
cblr-12479	485	43	of	of	ADP
cblr-12479	485	44	secrecy	secrecy	NOUN
cblr-12479	485	45	.	.	PUNCT
cblr-12479	486	1	horizontal	horizontal	ADJ
cblr-12479	486	2	agreements	agreement	NOUN
cblr-12479	486	3	among	among	ADP
cblr-12479	486	4	some	some	DET
cblr-12479	486	5	shareholders	shareholder	NOUN
cblr-12479	486	6	can	can	AUX
cblr-12479	486	7	also	also	ADV
cblr-12479	486	8	be	be	AUX
cblr-12479	486	9	used	use	VERB
cblr-12479	486	10	to	to	PART
cblr-12479	486	11	allocate	allocate	VERB
cblr-12479	486	12	board	board	NOUN
cblr-12479	486	13	representation	representation	NOUN
cblr-12479	486	14	rights	right	NOUN
cblr-12479	486	15	.	.	PUNCT
cblr-12479	487	1	an	an	DET
cblr-12479	487	2	agreement	agreement	NOUN
cblr-12479	487	3	among	among	ADP
cblr-12479	487	4	a	a	DET
cblr-12479	487	5	group	group	NOUN
cblr-12479	487	6	of	of	ADP
cblr-12479	487	7	shareholders	shareholder	NOUN
cblr-12479	487	8	may	may	AUX
cblr-12479	487	9	detail	detail	VERB
cblr-12479	487	10	how	how	SCONJ
cblr-12479	487	11	the	the	DET
cblr-12479	487	12	group	group	NOUN
cblr-12479	487	13	will	will	AUX
cblr-12479	487	14	vote	vote	VERB
cblr-12479	487	15	for	for	ADP
cblr-12479	487	16	the	the	DET
cblr-12479	487	17	appointment	appointment	NOUN
cblr-12479	487	18	and	and	CCONJ
cblr-12479	487	19	removal	removal	NOUN
cblr-12479	487	20	of	of	ADP
cblr-12479	487	21	directors	director	NOUN
cblr-12479	487	22	—	—	PUNCT
cblr-12479	487	23	i.e.	i.e.	X
cblr-12479	487	24	,	,	PUNCT
cblr-12479	487	25	via	via	ADP
cblr-12479	487	26	a	a	DET
cblr-12479	487	27	contractual	contractual	ADJ
cblr-12479	487	28	obligation	obligation	NOUN
cblr-12479	487	29	of	of	ADP
cblr-12479	487	30	some	some	DET
cblr-12479	487	31	shareholders	shareholder	NOUN
cblr-12479	487	32	to	to	PART
cblr-12479	487	33	vote	vote	VERB
cblr-12479	487	34	for	for	ADP
cblr-12479	487	35	someone	someone	PRON
cblr-12479	487	36	’s	’s	PART
cblr-12479	487	37	designee.151	designee.151	NOUN
cblr-12479	487	38	in	in	ADP
cblr-12479	487	39	this	this	DET
cblr-12479	487	40	sense	sense	NOUN
cblr-12479	487	41	,	,	PUNCT
cblr-12479	487	42	it	it	PRON
cblr-12479	487	43	may	may	AUX
cblr-12479	487	44	assist	assist	VERB
cblr-12479	487	45	the	the	DET
cblr-12479	487	46	structure	structure	NOUN
cblr-12479	487	47	of	of	ADP
cblr-12479	487	48	contingent	contingent	ADJ
cblr-12479	487	49	control	control	NOUN
cblr-12479	487	50	,	,	PUNCT
cblr-12479	487	51	by	by	ADP
cblr-12479	487	52	enhancing	enhance	VERB
cblr-12479	487	53	the	the	DET
cblr-12479	487	54	voting	voting	NOUN
cblr-12479	487	55	rights	right	NOUN
cblr-12479	487	56	of	of	ADP
cblr-12479	487	57	some	some	DET
cblr-12479	487	58	shareholders	shareholder	NOUN
cblr-12479	487	59	at	at	ADP
cblr-12479	487	60	a	a	DET
cblr-12479	487	61	given	give	VERB
cblr-12479	487	62	point	point	NOUN
cblr-12479	487	63	in	in	ADP
cblr-12479	487	64	time	time	NOUN
cblr-12479	487	65	.	.	PUNCT
cblr-12479	488	1	150	150	NUM
cblr-12479	488	2	see	see	VERB
cblr-12479	488	3	generally	generally	ADV
cblr-12479	488	4	mock	mock	ADJ
cblr-12479	488	5	,	,	PUNCT
cblr-12479	488	6	csach	csach	NOUN
cblr-12479	488	7	&	&	CCONJ
cblr-12479	488	8	bohumil	bohumil	PROPN
cblr-12479	488	9	,	,	PUNCT
cblr-12479	488	10	supra	supra	PROPN
cblr-12479	488	11	note	note	NOUN
cblr-12479	488	12	140	140	NUM
cblr-12479	488	13	.	.	PUNCT
cblr-12479	489	1	151	151	NUM
cblr-12479	489	2	see	see	NOUN
cblr-12479	489	3	,	,	PUNCT
cblr-12479	489	4	e.g.	e.g.	ADV
cblr-12479	489	5	,	,	PUNCT
cblr-12479	489	6	nat’l	nat’l	NOUN
cblr-12479	489	7	venture	venture	NOUN
cblr-12479	489	8	cap	cap	NOUN
cblr-12479	489	9	.	.	PUNCT
cblr-12479	490	1	ass’n	ass’n	ADV
cblr-12479	490	2	,	,	PUNCT
cblr-12479	490	3	supra	supra	ADJ
cblr-12479	490	4	note	note	NOUN
cblr-12479	490	5	129	129	NUM
cblr-12479	490	6	,	,	PUNCT
cblr-12479	490	7	section	section	NOUN
cblr-12479	490	8	1	1	NUM
cblr-12479	490	9	.	.	NUM
cblr-12479	490	10	714	714	NUM
cblr-12479	490	11	columbia	columbia	PROPN
cblr-12479	490	12	business	business	NOUN
cblr-12479	490	13	law	law	PROPN
cblr-12479	490	14	review	review	NOUN
cblr-12479	490	15	[	[	X
cblr-12479	490	16	vol	vol	NOUN
cblr-12479	490	17	.	.	PUNCT
cblr-12479	490	18	2023	2023	NUM
cblr-12479	490	19	these	these	DET
cblr-12479	490	20	agreements	agreement	NOUN
cblr-12479	490	21	give	give	VERB
cblr-12479	490	22	rise	rise	NOUN
cblr-12479	490	23	to	to	ADP
cblr-12479	490	24	one	one	NUM
cblr-12479	490	25	of	of	ADP
cblr-12479	490	26	two	two	NUM
cblr-12479	490	27	issues	issue	NOUN
cblr-12479	490	28	.	.	PUNCT
cblr-12479	491	1	first	first	ADV
cblr-12479	491	2	,	,	PUNCT
cblr-12479	491	3	when	when	SCONJ
cblr-12479	491	4	the	the	DET
cblr-12479	491	5	agreements	agreement	NOUN
cblr-12479	491	6	are	be	AUX
cblr-12479	491	7	secret	secret	ADJ
cblr-12479	491	8	,	,	PUNCT
cblr-12479	491	9	they	they	PRON
cblr-12479	491	10	may	may	AUX
cblr-12479	491	11	disguise	disguise	VERB
cblr-12479	491	12	a	a	DET
cblr-12479	491	13	situation	situation	NOUN
cblr-12479	491	14	of	of	ADP
cblr-12479	491	15	control	control	NOUN
cblr-12479	491	16	of	of	ADP
cblr-12479	491	17	some	some	DET
cblr-12479	491	18	shareholders	shareholder	NOUN
cblr-12479	491	19	over	over	ADP
cblr-12479	491	20	the	the	DET
cblr-12479	491	21	board	board	NOUN
cblr-12479	491	22	,	,	PUNCT
cblr-12479	491	23	which	which	PRON
cblr-12479	491	24	in	in	ADP
cblr-12479	491	25	other	other	ADJ
cblr-12479	491	26	circumstances	circumstance	NOUN
cblr-12479	491	27	would	would	AUX
cblr-12479	491	28	entail	entail	VERB
cblr-12479	491	29	specific	specific	ADJ
cblr-12479	491	30	duties	duty	NOUN
cblr-12479	491	31	for	for	ADP
cblr-12479	491	32	them.152	them.152	PROPN
cblr-12479	491	33	in	in	ADP
cblr-12479	491	34	other	other	ADJ
cblr-12479	491	35	words	word	NOUN
cblr-12479	491	36	,	,	PUNCT
cblr-12479	491	37	they	they	PRON
cblr-12479	491	38	may	may	AUX
cblr-12479	491	39	enable	enable	VERB
cblr-12479	491	40	some	some	DET
cblr-12479	491	41	shareholders	shareholder	NOUN
cblr-12479	491	42	to	to	PART
cblr-12479	491	43	enjoy	enjoy	VERB
cblr-12479	491	44	the	the	DET
cblr-12479	491	45	benefits	benefit	NOUN
cblr-12479	491	46	of	of	ADP
cblr-12479	491	47	control	control	NOUN
cblr-12479	491	48	with	with	ADP
cblr-12479	491	49	reduced	reduce	VERB
cblr-12479	491	50	liability	liability	NOUN
cblr-12479	491	51	risk	risk	NOUN
cblr-12479	491	52	.	.	PUNCT
cblr-12479	492	1	a	a	DET
cblr-12479	492	2	second	second	ADJ
cblr-12479	492	3	and	and	CCONJ
cblr-12479	492	4	alternative	alternative	ADJ
cblr-12479	492	5	issue	issue	NOUN
cblr-12479	492	6	arises	arise	VERB
cblr-12479	492	7	when	when	SCONJ
cblr-12479	492	8	agreements	agreement	NOUN
cblr-12479	492	9	are	be	AUX
cblr-12479	492	10	not	not	PART
cblr-12479	492	11	secret	secret	ADJ
cblr-12479	492	12	,	,	PUNCT
cblr-12479	492	13	e.g.	e.g.	ADV
cblr-12479	492	14	,	,	PUNCT
cblr-12479	492	15	when	when	SCONJ
cblr-12479	492	16	they	they	PRON
cblr-12479	492	17	are	be	AUX
cblr-12479	492	18	registered	register	VERB
cblr-12479	492	19	in	in	ADP
cblr-12479	492	20	the	the	DET
cblr-12479	492	21	company	company	NOUN
cblr-12479	492	22	’s	’s	PART
cblr-12479	492	23	records.153	records.153	VERB
cblr-12479	492	24	shareholders	shareholder	NOUN
cblr-12479	492	25	with	with	ADP
cblr-12479	492	26	such	such	ADJ
cblr-12479	492	27	enhanced	enhanced	ADJ
cblr-12479	492	28	powers	power	NOUN
cblr-12479	492	29	over	over	ADP
cblr-12479	492	30	the	the	DET
cblr-12479	492	31	board	board	NOUN
cblr-12479	492	32	may	may	AUX
cblr-12479	492	33	be	be	AUX
cblr-12479	492	34	considered	consider	VERB
cblr-12479	492	35	controllers	controller	NOUN
cblr-12479	492	36	or	or	CCONJ
cblr-12479	492	37	shadow	shadow	VERB
cblr-12479	492	38	directors	director	NOUN
cblr-12479	492	39	with	with	ADP
cblr-12479	492	40	duties	duty	NOUN
cblr-12479	492	41	to	to	ADP
cblr-12479	492	42	other	other	ADJ
cblr-12479	492	43	shareholders	shareholder	NOUN
cblr-12479	492	44	.	.	PUNCT
cblr-12479	493	1	for	for	ADP
cblr-12479	493	2	example	example	NOUN
cblr-12479	493	3	,	,	PUNCT
cblr-12479	493	4	in	in	ADP
cblr-12479	493	5	the	the	DET
cblr-12479	493	6	united	united	ADJ
cblr-12479	493	7	kingdom	kingdom	PROPN
cblr-12479	493	8	,	,	PUNCT
cblr-12479	493	9	a	a	DET
cblr-12479	493	10	shadow	shadow	NOUN
cblr-12479	493	11	director	director	NOUN
cblr-12479	493	12	,	,	PUNCT
cblr-12479	493	13	defined	define	VERB
cblr-12479	493	14	as	as	ADP
cblr-12479	493	15	“	"	PUNCT
cblr-12479	493	16	a	a	DET
cblr-12479	493	17	person	person	NOUN
cblr-12479	493	18	in	in	ADP
cblr-12479	493	19	accordance	accordance	NOUN
cblr-12479	493	20	with	with	ADP
cblr-12479	493	21	whose	whose	DET
cblr-12479	493	22	directions	direction	NOUN
cblr-12479	493	23	or	or	CCONJ
cblr-12479	493	24	instructions	instruction	NOUN
cblr-12479	493	25	the	the	DET
cblr-12479	493	26	directors	director	NOUN
cblr-12479	493	27	of	of	ADP
cblr-12479	493	28	the	the	DET
cblr-12479	493	29	company	company	NOUN
cblr-12479	493	30	are	be	AUX
cblr-12479	493	31	accustomed	accustom	VERB
cblr-12479	493	32	to	to	PART
cblr-12479	493	33	act	act	VERB
cblr-12479	493	34	,	,	PUNCT
cblr-12479	493	35	”	"	PUNCT
cblr-12479	493	36	is	be	AUX
cblr-12479	493	37	subject	subject	ADJ
cblr-12479	493	38	to	to	ADP
cblr-12479	493	39	general	general	ADJ
cblr-12479	493	40	directors	director	NOUN
cblr-12479	493	41	’	'	PUNCT
cblr-12479	493	42	duties.154	duties.154	PROPN
cblr-12479	493	43	while	while	SCONJ
cblr-12479	493	44	delaware	delaware	PROPN
cblr-12479	493	45	case	case	NOUN
cblr-12479	493	46	law	law	NOUN
cblr-12479	493	47	suggests	suggest	VERB
cblr-12479	493	48	that	that	SCONJ
cblr-12479	493	49	contractual	contractual	ADJ
cblr-12479	493	50	powers	power	NOUN
cblr-12479	493	51	are	be	AUX
cblr-12479	493	52	insufficient	insufficient	ADJ
cblr-12479	493	53	to	to	PART
cblr-12479	493	54	create	create	VERB
cblr-12479	493	55	corporate	corporate	ADJ
cblr-12479	493	56	fiduciary	fiduciary	ADJ
cblr-12479	493	57	duties	duty	NOUN
cblr-12479	493	58	of	of	ADP
cblr-12479	493	59	this	this	DET
cblr-12479	493	60	type	type	NOUN
cblr-12479	493	61	,	,	PUNCT
cblr-12479	493	62	it	it	PRON
cblr-12479	493	63	does	do	AUX
cblr-12479	493	64	not	not	PART
cblr-12479	493	65	appear	appear	VERB
cblr-12479	493	66	to	to	PART
cblr-12479	493	67	be	be	AUX
cblr-12479	493	68	a	a	DET
cblr-12479	493	69	settled	settle	VERB
cblr-12479	493	70	issue.155	issue.155	NOUN
cblr-12479	493	71	in	in	ADP
cblr-12479	493	72	152	152	NUM
cblr-12479	493	73	note	note	NOUN
cblr-12479	493	74	,	,	PUNCT
cblr-12479	493	75	controller	controller	NOUN
cblr-12479	493	76	confusion	confusion	NOUN
cblr-12479	493	77	:	:	PUNCT
cblr-12479	493	78	realigning	realign	VERB
cblr-12479	493	79	controlling	control	VERB
cblr-12479	493	80	stockholders	stockholder	NOUN
cblr-12479	493	81	and	and	CCONJ
cblr-12479	493	82	controlled	control	VERB
cblr-12479	493	83	boards	board	NOUN
cblr-12479	493	84	,	,	PUNCT
cblr-12479	493	85	133	133	NUM
cblr-12479	493	86	har	har	NOUN
cblr-12479	493	87	.	.	PUNCT
cblr-12479	494	1	l.	l.	PROPN
cblr-12479	494	2	rev	rev	PROPN
cblr-12479	494	3	.	.	PROPN
cblr-12479	494	4	1706	1706	NUM
cblr-12479	494	5	,	,	PUNCT
cblr-12479	494	6	1709	1709	NUM
cblr-12479	494	7	(	(	PUNCT
cblr-12479	494	8	2020	2020	NUM
cblr-12479	494	9	)	)	PUNCT
cblr-12479	494	10	(	(	PUNCT
cblr-12479	494	11	“	"	PUNCT
cblr-12479	494	12	when	when	SCONJ
cblr-12479	494	13	a	a	DET
cblr-12479	494	14	controlling	control	VERB
cblr-12479	494	15	stockholder	stockholder	NOUN
cblr-12479	494	16	is	be	AUX
cblr-12479	494	17	involved	involve	VERB
cblr-12479	494	18	in	in	ADP
cblr-12479	494	19	a	a	DET
cblr-12479	494	20	transaction	transaction	NOUN
cblr-12479	494	21	,	,	PUNCT
cblr-12479	494	22	there	there	PRON
cblr-12479	494	23	are	be	VERB
cblr-12479	494	24	two	two	NUM
cblr-12479	494	25	primary	primary	ADJ
cblr-12479	494	26	consequences	consequence	NOUN
cblr-12479	494	27	:	:	PUNCT
cblr-12479	494	28	imposition	imposition	NOUN
cblr-12479	494	29	of	of	ADP
cblr-12479	494	30	fiduciary	fiduciary	ADJ
cblr-12479	494	31	duties	duty	NOUN
cblr-12479	494	32	and	and	CCONJ
cblr-12479	494	33	enhanced	enhance	VERB
cblr-12479	494	34	transaction	transaction	NOUN
cblr-12479	494	35	scrutiny	scrutiny	NOUN
cblr-12479	494	36	.	.	PUNCT
cblr-12479	495	1	under	under	ADP
cblr-12479	495	2	delaware	delaware	PROPN
cblr-12479	495	3	law	law	PROPN
cblr-12479	495	4	,	,	PUNCT
cblr-12479	495	5	stockholders	stockholder	NOUN
cblr-12479	495	6	typically	typically	ADV
cblr-12479	495	7	do	do	AUX
cblr-12479	495	8	not	not	PART
cblr-12479	495	9	owe	owe	VERB
cblr-12479	495	10	fiduciary	fiduciary	ADJ
cblr-12479	495	11	duties	duty	NOUN
cblr-12479	495	12	.	.	PUNCT
cblr-12479	496	1	however	however	ADV
cblr-12479	496	2	,	,	PUNCT
cblr-12479	496	3	because	because	SCONJ
cblr-12479	496	4	a	a	DET
cblr-12479	496	5	controlling	control	VERB
cblr-12479	496	6	stockholder	stockholder	NOUN
cblr-12479	496	7	effectively	effectively	ADV
cblr-12479	496	8	controls	control	VERB
cblr-12479	496	9	the	the	DET
cblr-12479	496	10	company	company	NOUN
cblr-12479	496	11	,	,	PUNCT
cblr-12479	496	12	a	a	DET
cblr-12479	496	13	controlling	control	VERB
cblr-12479	496	14	stockholder	stockholder	NOUN
cblr-12479	496	15	assumes	assume	VERB
cblr-12479	496	16	fiduciary	fiduciary	ADJ
cblr-12479	496	17	duties	duty	NOUN
cblr-12479	496	18	similar	similar	ADJ
cblr-12479	496	19	to	to	ADP
cblr-12479	496	20	those	those	PRON
cblr-12479	496	21	of	of	ADP
cblr-12479	496	22	a	a	DET
cblr-12479	496	23	director	director	NOUN
cblr-12479	496	24	on	on	ADP
cblr-12479	496	25	the	the	DET
cblr-12479	496	26	board	board	NOUN
cblr-12479	496	27	.	.	PUNCT
cblr-12479	497	1	the	the	DET
cblr-12479	497	2	most	most	ADV
cblr-12479	497	3	notable	notable	ADJ
cblr-12479	497	4	of	of	ADP
cblr-12479	497	5	the	the	DET
cblr-12479	497	6	fiduciary	fiduciary	ADJ
cblr-12479	497	7	duties	duty	NOUN
cblr-12479	497	8	imposed	impose	VERB
cblr-12479	497	9	on	on	ADP
cblr-12479	497	10	controlling	control	VERB
cblr-12479	497	11	stockholders	stockholder	NOUN
cblr-12479	497	12	is	be	AUX
cblr-12479	497	13	the	the	DET
cblr-12479	497	14	duty	duty	NOUN
cblr-12479	497	15	of	of	ADP
cblr-12479	497	16	loyalty	loyalty	NOUN
cblr-12479	497	17	.	.	PUNCT
cblr-12479	497	18	”	"	PUNCT
cblr-12479	497	19	)	)	PUNCT
cblr-12479	497	20	.	.	PUNCT
cblr-12479	498	1	see	see	VERB
cblr-12479	498	2	also	also	ADV
cblr-12479	498	3	zipora	zipora	PROPN
cblr-12479	498	4	cohen	cohen	PROPN
cblr-12479	498	5	,	,	PUNCT
cblr-12479	498	6	fiduciary	fiduciary	ADJ
cblr-12479	498	7	duties	duty	NOUN
cblr-12479	498	8	of	of	ADP
cblr-12479	498	9	controlling	control	VERB
cblr-12479	498	10	shareholders	shareholder	NOUN
cblr-12479	498	11	:	:	PUNCT
cblr-12479	498	12	a	a	DET
cblr-12479	498	13	comparative	comparative	ADJ
cblr-12479	498	14	view	view	NOUN
cblr-12479	498	15	,	,	PUNCT
cblr-12479	498	16	12	12	NUM
cblr-12479	498	17	univ	univ	PROPN
cblr-12479	498	18	.	.	PUNCT
cblr-12479	499	1	pa	pa	PROPN
cblr-12479	499	2	.	.	PUNCT
cblr-12479	499	3	j.	j.	PROPN
cblr-12479	499	4	int	int	PROPN
cblr-12479	499	5	.	.	PUNCT
cblr-12479	500	1	bus	bus	NOUN
cblr-12479	500	2	.	.	PUNCT
cblr-12479	501	1	l.	l.	PROPN
cblr-12479	501	2	379	379	NUM
cblr-12479	501	3	(	(	PUNCT
cblr-12479	501	4	1991	1991	NUM
cblr-12479	501	5	)	)	PUNCT
cblr-12479	501	6	(	(	PUNCT
cblr-12479	501	7	tracing	trace	VERB
cblr-12479	501	8	the	the	DET
cblr-12479	501	9	development	development	NOUN
cblr-12479	501	10	of	of	ADP
cblr-12479	501	11	controlling	control	VERB
cblr-12479	501	12	shareholders	shareholder	NOUN
cblr-12479	501	13	’	'	PUNCT
cblr-12479	501	14	duties	duty	NOUN
cblr-12479	501	15	in	in	ADP
cblr-12479	501	16	israel	israel	PROPN
cblr-12479	501	17	,	,	PUNCT
cblr-12479	501	18	england	england	PROPN
cblr-12479	501	19	and	and	CCONJ
cblr-12479	501	20	the	the	DET
cblr-12479	501	21	united	united	PROPN
cblr-12479	501	22	states	states	PROPN
cblr-12479	501	23	)	)	PUNCT
cblr-12479	501	24	.	.	PUNCT
cblr-12479	502	1	153	153	NUM
cblr-12479	502	2	this	this	PRON
cblr-12479	502	3	would	would	AUX
cblr-12479	502	4	be	be	AUX
cblr-12479	502	5	expected	expect	VERB
cblr-12479	502	6	in	in	ADP
cblr-12479	502	7	jurisdictions	jurisdiction	NOUN
cblr-12479	502	8	with	with	ADP
cblr-12479	502	9	an	an	DET
cblr-12479	502	10	express	express	ADJ
cblr-12479	502	11	regulation	regulation	NOUN
cblr-12479	502	12	of	of	ADP
cblr-12479	502	13	shareholders	shareholder	NOUN
cblr-12479	502	14	’	'	PUNCT
cblr-12479	502	15	agreement	agreement	NOUN
cblr-12479	502	16	,	,	PUNCT
cblr-12479	502	17	such	such	ADJ
cblr-12479	502	18	as	as	ADP
cblr-12479	502	19	colombia	colombia	PROPN
cblr-12479	502	20	or	or	CCONJ
cblr-12479	502	21	slovakia	slovakia	PROPN
cblr-12479	502	22	.	.	PUNCT
cblr-12479	503	1	see	see	VERB
cblr-12479	503	2	l.	l.	PROPN
cblr-12479	503	3	1258	1258	NUM
cblr-12479	503	4	,	,	PUNCT
cblr-12479	503	5	de	de	PROPN
cblr-12479	503	6	2008	2008	NUM
cblr-12479	503	7	,	,	PUNCT
cblr-12479	503	8	art	art	NOUN
cblr-12479	503	9	.	.	PUNCT
cblr-12479	504	1	24	24	NUM
cblr-12479	504	2	(	(	PUNCT
cblr-12479	504	3	colom	colom	PROPN
cblr-12479	504	4	.	.	PUNCT
cblr-12479	504	5	)	)	PUNCT
cblr-12479	505	1	and	and	CCONJ
cblr-12479	505	2	slovakian	slovakian	ADJ
cblr-12479	505	3	commercial	commercial	PROPN
cblr-12479	505	4	code	code	PROPN
cblr-12479	505	5	,	,	PUNCT
cblr-12479	505	6	513	513	NUM
cblr-12479	505	7	zákonz	zákonz	NOUN
cblr-12479	505	8	5	5	NUM
cblr-12479	505	9	novembra	novembra	NOUN
cblr-12479	505	10	1991	1991	NUM
cblr-12479	505	11	,	,	PUNCT
cblr-12479	505	12	obchodný	obchodný	ADJ
cblr-12479	505	13	zákonník	zákonník	NOUN
cblr-12479	505	14	§	§	PROPN
cblr-12479	505	15	66.c	66.c	NUM
cblr-12479	505	16	.	.	PUNCT
cblr-12479	505	17	,	,	PUNCT
cblr-12479	505	18	respectively	respectively	ADV
cblr-12479	505	19	.	.	PUNCT
cblr-12479	506	1	154	154	NUM
cblr-12479	506	2	see	see	VERB
cblr-12479	506	3	companies	company	NOUN
cblr-12479	506	4	act	act	VERB
cblr-12479	506	5	2006	2006	NUM
cblr-12479	506	6	§	§	PROPN
cblr-12479	506	7	251	251	NUM
cblr-12479	506	8	(	(	PUNCT
cblr-12479	506	9	uk	uk	PROPN
cblr-12479	506	10	)	)	PUNCT
cblr-12479	506	11	(	(	PUNCT
cblr-12479	506	12	defining	define	VERB
cblr-12479	506	13	a	a	DET
cblr-12479	506	14	“	"	PUNCT
cblr-12479	506	15	shadow	shadow	NOUN
cblr-12479	506	16	directors	director	NOUN
cblr-12479	506	17	”	"	PUNCT
cblr-12479	506	18	as	as	ADP
cblr-12479	506	19	“	"	PUNCT
cblr-12479	506	20	a	a	DET
cblr-12479	506	21	person	person	NOUN
cblr-12479	506	22	in	in	ADP
cblr-12479	506	23	accordance	accordance	NOUN
cblr-12479	506	24	with	with	ADP
cblr-12479	506	25	whose	whose	DET
cblr-12479	506	26	directions	direction	NOUN
cblr-12479	506	27	or	or	CCONJ
cblr-12479	506	28	instructions	instruction	NOUN
cblr-12479	506	29	the	the	DET
cblr-12479	506	30	directors	director	NOUN
cblr-12479	506	31	of	of	ADP
cblr-12479	506	32	the	the	DET
cblr-12479	506	33	company	company	NOUN
cblr-12479	506	34	are	be	AUX
cblr-12479	506	35	accustomed	accustom	VERB
cblr-12479	506	36	to	to	PART
cblr-12479	506	37	act	act	VERB
cblr-12479	506	38	”	"	PUNCT
cblr-12479	506	39	)	)	PUNCT
cblr-12479	506	40	;	;	PUNCT
cblr-12479	506	41	see	see	VERB
cblr-12479	506	42	also	also	ADV
cblr-12479	506	43	i	i	PROPN
cblr-12479	506	44	d.	d.	PROPN
cblr-12479	506	45	at	at	ADP
cblr-12479	506	46	§	§	PROPN
cblr-12479	506	47	170	170	NUM
cblr-12479	506	48	(	(	PUNCT
cblr-12479	506	49	stating	state	VERB
cblr-12479	506	50	“	"	PUNCT
cblr-12479	506	51	that	that	DET
cblr-12479	506	52	general	general	ADJ
cblr-12479	506	53	duties	duty	NOUN
cblr-12479	506	54	[	[	X
cblr-12479	506	55	of	of	ADP
cblr-12479	506	56	directors	director	NOUN
cblr-12479	506	57	]	]	PUNCT
cblr-12479	506	58	apply	apply	VERB
cblr-12479	506	59	to	to	ADP
cblr-12479	506	60	a	a	DET
cblr-12479	506	61	shadow	shadow	NOUN
cblr-12479	506	62	director	director	NOUN
cblr-12479	506	63	of	of	ADP
cblr-12479	506	64	a	a	DET
cblr-12479	506	65	company	company	NOUN
cblr-12479	506	66	.	.	PUNCT
cblr-12479	506	67	.	.	PUNCT
cblr-12479	506	68	.	.	PUNCT
cblr-12479	507	1	“	"	PUNCT
cblr-12479	507	2	)	)	PUNCT
cblr-12479	507	3	.	.	PUNCT
cblr-12479	508	1	155	155	NUM
cblr-12479	508	2	rauterberg	rauterberg	PROPN
cblr-12479	508	3	,	,	PUNCT
cblr-12479	508	4	supra	supra	PROPN
cblr-12479	508	5	note	note	NOUN
cblr-12479	508	6	20	20	NUM
cblr-12479	508	7	at	at	ADP
cblr-12479	508	8	1168	1168	NUM
cblr-12479	508	9	-	-	SYM
cblr-12479	508	10	69	69	NUM
cblr-12479	508	11	(	(	PUNCT
cblr-12479	508	12	discussing	discuss	VERB
cblr-12479	508	13	sheldon	sheldon	PROPN
cblr-12479	508	14	v.	v.	ADP
cblr-12479	508	15	pinto	pinto	PROPN
cblr-12479	508	16	tech	tech	NOUN
cblr-12479	508	17	.	.	PUNCT
cblr-12479	509	1	ventures	venture	NOUN
cblr-12479	509	2	,	,	PUNCT
cblr-12479	509	3	l.p	l.p	PROPN
cblr-12479	509	4	.	.	PROPN
cblr-12479	509	5	,	,	PUNCT
cblr-12479	509	6	220	220	NUM
cblr-12479	509	7	a.3d	a.3d	SYM
cblr-12479	509	8	245	245	NUM
cblr-12479	509	9	(	(	PUNCT
cblr-12479	509	10	del	del	PROPN
cblr-12479	509	11	.	.	PROPN
cblr-12479	509	12	2019	2019	NUM
cblr-12479	509	13	)	)	PUNCT
cblr-12479	509	14	,	,	PUNCT
cblr-12479	509	15	in	in	ADP
cblr-12479	509	16	which	which	PRON
cblr-12479	509	17	the	the	DET
cblr-12479	509	18	delaware	delaware	PROPN
cblr-12479	509	19	supreme	supreme	PROPN
cblr-12479	509	20	court	court	PROPN
cblr-12479	509	21	found	find	VERB
cblr-12479	509	22	that	that	SCONJ
cblr-12479	509	23	there	there	PRON
cblr-12479	509	24	was	be	VERB
cblr-12479	509	25	no	no	DET
cblr-12479	509	26	controlling	control	VERB
cblr-12479	509	27	shareholder	shareholder	NOUN
cblr-12479	509	28	,	,	PUNCT
cblr-12479	509	29	no	no	INTJ
cblr-12479	509	30	.	.	NOUN
cblr-12479	509	31	2	2	NUM
cblr-12479	509	32	]	]	PUNCT
cblr-12479	509	33	the	the	DET
cblr-12479	509	34	law	law	NOUN
cblr-12479	509	35	of	of	ADP
cblr-12479	509	36	contingent	contingent	ADJ
cblr-12479	509	37	control	control	NOUN
cblr-12479	509	38	715	715	NUM
cblr-12479	509	39	jurisdictions	jurisdiction	NOUN
cblr-12479	509	40	with	with	ADP
cblr-12479	509	41	less	less	ADV
cblr-12479	509	42	precise	precise	ADJ
cblr-12479	509	43	corporate	corporate	ADJ
cblr-12479	509	44	law	law	NOUN
cblr-12479	509	45	statutes	statute	NOUN
cblr-12479	509	46	and	and	CCONJ
cblr-12479	509	47	scarcer	scarcer	NOUN
cblr-12479	509	48	case	case	NOUN
cblr-12479	509	49	law	law	NOUN
cblr-12479	509	50	,	,	PUNCT
cblr-12479	509	51	the	the	DET
cblr-12479	509	52	efficacy	efficacy	NOUN
cblr-12479	509	53	of	of	ADP
cblr-12479	509	54	horizontal	horizontal	ADJ
cblr-12479	509	55	shareholders	shareholder	NOUN
cblr-12479	509	56	’	'	PUNCT
cblr-12479	509	57	agreements	agreement	NOUN
cblr-12479	509	58	enhancing	enhance	VERB
cblr-12479	509	59	board	board	NOUN
cblr-12479	509	60	representation	representation	NOUN
cblr-12479	509	61	rights	right	NOUN
cblr-12479	509	62	is	be	AUX
cblr-12479	509	63	even	even	ADV
cblr-12479	509	64	less	less	ADV
cblr-12479	509	65	predictable	predictable	ADJ
cblr-12479	509	66	.	.	PUNCT
cblr-12479	510	1	this	this	DET
cblr-12479	510	2	uncertainty	uncertainty	NOUN
cblr-12479	510	3	over	over	ADP
cblr-12479	510	4	the	the	DET
cblr-12479	510	5	legal	legal	ADJ
cblr-12479	510	6	consequences	consequence	NOUN
cblr-12479	510	7	of	of	ADP
cblr-12479	510	8	regulating	regulate	VERB
cblr-12479	510	9	board	board	NOUN
cblr-12479	510	10	appointment	appointment	NOUN
cblr-12479	510	11	and	and	CCONJ
cblr-12479	510	12	removal	removal	NOUN
cblr-12479	510	13	rights	right	NOUN
cblr-12479	510	14	through	through	ADP
cblr-12479	510	15	shareholders	shareholder	NOUN
cblr-12479	510	16	’	'	PUNCT
cblr-12479	510	17	agreements	agreement	NOUN
cblr-12479	510	18	not	not	PART
cblr-12479	510	19	only	only	ADV
cblr-12479	510	20	affects	affect	VERB
cblr-12479	510	21	shareholders	shareholder	NOUN
cblr-12479	510	22	but	but	CCONJ
cblr-12479	510	23	also	also	ADV
cblr-12479	510	24	influences	influence	VERB
cblr-12479	510	25	how	how	SCONJ
cblr-12479	510	26	directors	director	NOUN
cblr-12479	510	27	and	and	CCONJ
cblr-12479	510	28	officers	officer	NOUN
cblr-12479	510	29	conduct	conduct	VERB
cblr-12479	510	30	themselves	themselves	PRON
cblr-12479	510	31	and	and	CCONJ
cblr-12479	510	32	,	,	PUNCT
cblr-12479	510	33	correspondingly	correspondingly	ADV
cblr-12479	510	34	,	,	PUNCT
cblr-12479	510	35	startups	startup	NOUN
cblr-12479	510	36	’	'	PUNCT
cblr-12479	510	37	potential	potential	NOUN
cblr-12479	510	38	to	to	PART
cblr-12479	510	39	raise	raise	VERB
cblr-12479	510	40	vc	vc	PROPN
cblr-12479	510	41	finance	finance	NOUN
cblr-12479	510	42	in	in	ADP
cblr-12479	510	43	different	different	ADJ
cblr-12479	510	44	jurisdictions	jurisdiction	NOUN
cblr-12479	510	45	.	.	PUNCT
cblr-12479	511	1	horizontal	horizontal	ADJ
cblr-12479	511	2	agreements	agreement	NOUN
cblr-12479	511	3	among	among	ADP
cblr-12479	511	4	all	all	DET
cblr-12479	511	5	shareholders	shareholder	NOUN
cblr-12479	511	6	operate	operate	VERB
cblr-12479	511	7	as	as	ADP
cblr-12479	511	8	substitutes	substitute	NOUN
cblr-12479	511	9	of	of	ADP
cblr-12479	511	10	essential	essential	ADJ
cblr-12479	511	11	corporate	corporate	ADJ
cblr-12479	511	12	law	law	NOUN
cblr-12479	511	13	rules	rule	NOUN
cblr-12479	511	14	(	(	PUNCT
cblr-12479	511	15	e.g.	e.g.	ADV
cblr-12479	511	16	,	,	PUNCT
cblr-12479	511	17	quorum	quorum	ADJ
cblr-12479	511	18	and	and	CCONJ
cblr-12479	511	19	voting	vote	VERB
cblr-12479	511	20	majorities	majority	NOUN
cblr-12479	511	21	to	to	PART
cblr-12479	511	22	approve	approve	VERB
cblr-12479	511	23	decisions	decision	NOUN
cblr-12479	511	24	,	,	PUNCT
cblr-12479	511	25	inspection	inspection	NOUN
cblr-12479	511	26	rights	right	NOUN
cblr-12479	511	27	,	,	PUNCT
cblr-12479	511	28	and	and	CCONJ
cblr-12479	511	29	directors	director	NOUN
cblr-12479	511	30	’	’	PART
cblr-12479	511	31	duties	duty	NOUN
cblr-12479	511	32	)	)	PUNCT
cblr-12479	511	33	and	and	CCONJ
cblr-12479	511	34	doctrines	doctrine	NOUN
cblr-12479	511	35	(	(	PUNCT
cblr-12479	511	36	e.g.	e.g.	ADV
cblr-12479	511	37	,	,	PUNCT
cblr-12479	511	38	corporate	corporate	ADJ
cblr-12479	511	39	opportunity	opportunity	NOUN
cblr-12479	511	40	)	)	PUNCT
cblr-12479	511	41	,	,	PUNCT
cblr-12479	511	42	crafted	craft	VERB
cblr-12479	511	43	to	to	PART
cblr-12479	511	44	deal	deal	VERB
cblr-12479	511	45	with	with	ADP
cblr-12479	511	46	agency	agency	NOUN
cblr-12479	511	47	problems	problem	NOUN
cblr-12479	511	48	.	.	PUNCT
cblr-12479	512	1	the	the	DET
cblr-12479	512	2	decision	decision	NOUN
cblr-12479	512	3	to	to	PART
cblr-12479	512	4	register	register	VERB
cblr-12479	512	5	a	a	DET
cblr-12479	512	6	business	business	NOUN
cblr-12479	512	7	as	as	ADP
cblr-12479	512	8	a	a	DET
cblr-12479	512	9	corporation	corporation	NOUN
cblr-12479	512	10	signals	signal	VERB
cblr-12479	512	11	adherence	adherence	NOUN
cblr-12479	512	12	to	to	ADP
cblr-12479	512	13	such	such	ADJ
cblr-12479	512	14	corporate	corporate	ADJ
cblr-12479	512	15	law	law	NOUN
cblr-12479	512	16	rules	rule	NOUN
cblr-12479	512	17	that	that	PRON
cblr-12479	512	18	govern	govern	VERB
cblr-12479	512	19	the	the	DET
cblr-12479	512	20	corporate	corporate	ADJ
cblr-12479	512	21	form	form	NOUN
cblr-12479	512	22	and	and	CCONJ
cblr-12479	512	23	alleviate	alleviate	VERB
cblr-12479	512	24	agency	agency	NOUN
cblr-12479	512	25	problems	problem	NOUN
cblr-12479	512	26	,	,	PUNCT
cblr-12479	512	27	as	as	ADV
cblr-12479	512	28	well	well	ADV
cblr-12479	512	29	as	as	ADP
cblr-12479	512	30	with	with	ADP
cblr-12479	512	31	the	the	DET
cblr-12479	512	32	rules	rule	NOUN
cblr-12479	512	33	governing	govern	VERB
cblr-12479	512	34	the	the	DET
cblr-12479	512	35	rights	right	NOUN
cblr-12479	512	36	and	and	CCONJ
cblr-12479	512	37	powers	power	NOUN
cblr-12479	512	38	of	of	ADP
cblr-12479	512	39	all	all	DET
cblr-12479	512	40	corporate	corporate	ADJ
cblr-12479	512	41	constituents	constituent	NOUN
cblr-12479	512	42	,	,	PUNCT
cblr-12479	512	43	regardless	regardless	ADV
cblr-12479	512	44	of	of	ADP
cblr-12479	512	45	their	their	PRON
cblr-12479	512	46	level	level	NOUN
cblr-12479	512	47	of	of	ADP
cblr-12479	512	48	sophistication	sophistication	NOUN
cblr-12479	512	49	(	(	PUNCT
cblr-12479	512	50	implicit	implicit	ADJ
cblr-12479	512	51	consent).156	consent).156	PROPN
cblr-12479	512	52	shareholders	shareholder	NOUN
cblr-12479	512	53	’	'	PUNCT
cblr-12479	512	54	agreements	agreement	NOUN
cblr-12479	512	55	that	that	PRON
cblr-12479	512	56	substitute	substitute	VERB
cblr-12479	512	57	these	these	DET
cblr-12479	512	58	corporate	corporate	ADJ
cblr-12479	512	59	law	law	NOUN
cblr-12479	512	60	rules	rule	NOUN
cblr-12479	512	61	might	might	AUX
cblr-12479	512	62	thus	thus	ADV
cblr-12479	512	63	increase	increase	VERB
cblr-12479	512	64	agency	agency	NOUN
cblr-12479	512	65	problems	problem	NOUN
cblr-12479	512	66	and	and	CCONJ
cblr-12479	512	67	give	give	VERB
cblr-12479	512	68	rise	rise	NOUN
cblr-12479	512	69	to	to	ADP
cblr-12479	512	70	additional	additional	ADJ
cblr-12479	512	71	practical	practical	ADJ
cblr-12479	512	72	issues.157	issues.157	NOUN
cblr-12479	512	73	c.	c.	NOUN
cblr-12479	512	74	hindering	hinder	VERB
cblr-12479	512	75	transaction	transaction	NOUN
cblr-12479	512	76	cost	cost	NOUN
cblr-12479	512	77	reductions	reduction	NOUN
cblr-12479	512	78	and	and	CCONJ
cblr-12479	512	79	judicial	judicial	ADJ
cblr-12479	512	80	scrutiny	scrutiny	NOUN
cblr-12479	512	81	whether	whether	SCONJ
cblr-12479	512	82	vertical	vertical	ADJ
cblr-12479	512	83	or	or	CCONJ
cblr-12479	512	84	horizonal	horizonal	PROPN
cblr-12479	512	85	,	,	PUNCT
cblr-12479	512	86	the	the	DET
cblr-12479	512	87	use	use	NOUN
cblr-12479	512	88	of	of	ADP
cblr-12479	512	89	shareholders	shareholder	NOUN
cblr-12479	512	90	’	'	PUNCT
cblr-12479	512	91	agreements	agreement	NOUN
cblr-12479	512	92	as	as	ADP
cblr-12479	512	93	a	a	DET
cblr-12479	512	94	core	core	ADJ
cblr-12479	512	95	corporate	corporate	ADJ
cblr-12479	512	96	governance	governance	NOUN
cblr-12479	512	97	instrument	instrument	NOUN
cblr-12479	512	98	for	for	ADP
cblr-12479	512	99	startup	startup	NOUN
cblr-12479	512	100	companies	company	NOUN
cblr-12479	512	101	also	also	ADV
cblr-12479	512	102	weakens	weaken	VERB
cblr-12479	512	103	the	the	DET
cblr-12479	512	104	development	development	NOUN
cblr-12479	512	105	of	of	ADP
cblr-12479	512	106	the	the	DET
cblr-12479	512	107	vc	vc	PROPN
cblr-12479	512	108	industry	industry	NOUN
cblr-12479	512	109	by	by	ADP
cblr-12479	512	110	hampering	hamper	VERB
cblr-12479	512	111	crucial	crucial	ADJ
cblr-12479	512	112	transaction	transaction	NOUN
cblr-12479	512	113	cost	cost	NOUN
cblr-12479	512	114	reductions	reduction	NOUN
cblr-12479	512	115	.	.	PUNCT
cblr-12479	513	1	articles	article	NOUN
cblr-12479	513	2	of	of	ADP
cblr-12479	513	3	incorporation	incorporation	NOUN
cblr-12479	513	4	and	and	CCONJ
cblr-12479	513	5	other	other	ADJ
cblr-12479	513	6	instruments	instrument	NOUN
cblr-12479	513	7	governed	govern	VERB
cblr-12479	513	8	by	by	ADP
cblr-12479	513	9	notwithstanding	notwithstanding	ADP
cblr-12479	513	10	the	the	DET
cblr-12479	513	11	presence	presence	NOUN
cblr-12479	513	12	of	of	ADP
cblr-12479	513	13	a	a	DET
cblr-12479	513	14	shareholder	shareholder	NOUN
cblr-12479	513	15	agreement	agreement	NOUN
cblr-12479	513	16	that	that	PRON
cblr-12479	513	17	allowed	allow	VERB
cblr-12479	513	18	a	a	DET
cblr-12479	513	19	group	group	NOUN
cblr-12479	513	20	of	of	ADP
cblr-12479	513	21	venture	venture	NOUN
cblr-12479	513	22	capital	capital	NOUN
cblr-12479	513	23	firms	firm	NOUN
cblr-12479	513	24	to	to	PART
cblr-12479	513	25	appoint	appoint	VERB
cblr-12479	513	26	almost	almost	ADV
cblr-12479	513	27	all	all	PRON
cblr-12479	513	28	directors	director	NOUN
cblr-12479	513	29	in	in	ADP
cblr-12479	513	30	contrast	contrast	NOUN
cblr-12479	513	31	to	to	ADP
cblr-12479	513	32	van	van	PROPN
cblr-12479	513	33	der	der	NOUN
cblr-12479	513	34	fluit	fluit	PROPN
cblr-12479	513	35	v.	v.	ADP
cblr-12479	513	36	yates	yates	PROPN
cblr-12479	513	37	,	,	PUNCT
cblr-12479	513	38	no	no	INTJ
cblr-12479	513	39	.	.	PUNCT
cblr-12479	514	1	cv	cv	PROPN
cblr-12479	514	2	12553	12553	NUM
cblr-12479	514	3	-	-	PUNCT
cblr-12479	514	4	vcmr	vcmr	ADJ
cblr-12479	514	5	,	,	PUNCT
cblr-12479	514	6	2017	2017	NUM
cblr-12479	514	7	wl	wl	NOUN
cblr-12479	514	8	5953514	5953514	NUM
cblr-12479	514	9	,	,	PUNCT
cblr-12479	514	10	at	at	ADP
cblr-12479	514	11	*	*	NOUN
cblr-12479	514	12	5	5	NUM
cblr-12479	514	13	(	(	PUNCT
cblr-12479	514	14	del	del	PROPN
cblr-12479	514	15	.	.	PROPN
cblr-12479	514	16	ch	ch	PROPN
cblr-12479	514	17	.	.	PUNCT
cblr-12479	515	1	nov	nov	PROPN
cblr-12479	515	2	.	.	PROPN
cblr-12479	515	3	30	30	NUM
cblr-12479	515	4	,	,	PUNCT
cblr-12479	515	5	2017	2017	NUM
cblr-12479	515	6	)	)	PUNCT
cblr-12479	515	7	and	and	CCONJ
cblr-12479	515	8	in	in	ADP
cblr-12479	515	9	re	re	PROPN
cblr-12479	515	10	hansen	hansen	PROPN
cblr-12479	515	11	med	med	PROPN
cblr-12479	515	12	.	.	PROPN
cblr-12479	515	13	,	,	PUNCT
cblr-12479	515	14	inc	inc	PROPN
cblr-12479	515	15	.	.	PROPN
cblr-12479	515	16	stockholders	stockholder	NOUN
cblr-12479	515	17	litig	litig	PROPN
cblr-12479	515	18	.	.	PUNCT
cblr-12479	516	1	,	,	PUNCT
cblr-12479	516	2	no	no	INTJ
cblr-12479	516	3	.	.	NOUN
cblr-12479	517	1	12316	12316	NUM
cblr-12479	517	2	-	-	PUNCT
cblr-12479	517	3	vcmr	vcmr	ADJ
cblr-12479	517	4	,	,	PUNCT
cblr-12479	517	5	2018	2018	NUM
cblr-12479	517	6	wl	wl	NOUN
cblr-12479	517	7	3030808	3030808	NUM
cblr-12479	517	8	(	(	PUNCT
cblr-12479	517	9	del	del	PROPN
cblr-12479	517	10	.	.	PROPN
cblr-12479	517	11	ch	ch	PROPN
cblr-12479	517	12	.	.	PROPN
cblr-12479	517	13	june	june	PROPN
cblr-12479	517	14	18	18	NUM
cblr-12479	517	15	,	,	PUNCT
cblr-12479	517	16	2018	2018	NUM
cblr-12479	517	17	)	)	PUNCT
cblr-12479	517	18	,	,	PUNCT
cblr-12479	517	19	which	which	PRON
cblr-12479	517	20	came	come	VERB
cblr-12479	517	21	out	out	ADP
cblr-12479	517	22	the	the	DET
cblr-12479	517	23	other	other	ADJ
cblr-12479	517	24	way	way	NOUN
cblr-12479	517	25	on	on	ADP
cblr-12479	517	26	broadly	broadly	ADV
cblr-12479	517	27	similar	similar	ADJ
cblr-12479	517	28	facts	fact	NOUN
cblr-12479	517	29	)	)	PUNCT
cblr-12479	517	30	.	.	PUNCT
cblr-12479	518	1	156	156	NUM
cblr-12479	518	2	jill	jill	PROPN
cblr-12479	518	3	e	e	PROPN
cblr-12479	518	4	fisch	fisch	PROPN
cblr-12479	518	5	,	,	PUNCT
cblr-12479	518	6	stealth	stealth	ADJ
cblr-12479	518	7	governance	governance	NOUN
cblr-12479	518	8	:	:	PUNCT
cblr-12479	518	9	shareholder	shareholder	NOUN
cblr-12479	518	10	agreements	agreement	NOUN
cblr-12479	518	11	and	and	CCONJ
cblr-12479	518	12	private	private	ADJ
cblr-12479	518	13	ordering	ordering	NOUN
cblr-12479	518	14	,	,	PUNCT
cblr-12479	518	15	99	99	NUM
cblr-12479	518	16	wash	wash	NOUN
cblr-12479	518	17	.	.	PUNCT
cblr-12479	519	1	u.	u.	PROPN
cblr-12479	519	2	l.	l.	PROPN
cblr-12479	519	3	rev	rev	PROPN
cblr-12479	519	4	.	.	PROPN
cblr-12479	520	1	913	913	NUM
cblr-12479	520	2	(	(	PUNCT
cblr-12479	520	3	2022	2022	NUM
cblr-12479	520	4	)	)	PUNCT
cblr-12479	520	5	.	.	PUNCT
cblr-12479	521	1	157	157	NUM
cblr-12479	521	2	i	i	NOUN
cblr-12479	521	3	d.	d.	PROPN
cblr-12479	521	4	at	at	ADP
cblr-12479	521	5	946–953	946–953	NUM
cblr-12479	521	6	.	.	PUNCT
cblr-12479	522	1	716	716	NUM
cblr-12479	522	2	columbia	columbia	PROPN
cblr-12479	522	3	business	business	NOUN
cblr-12479	522	4	law	law	NOUN
cblr-12479	522	5	review	review	NOUN
cblr-12479	522	6	[	[	X
cblr-12479	522	7	vol	vol	NOUN
cblr-12479	522	8	.	.	PUNCT
cblr-12479	522	9	2023	2023	NUM
cblr-12479	522	10	corporate	corporate	ADJ
cblr-12479	522	11	law	law	NOUN
cblr-12479	522	12	are	be	AUX
cblr-12479	522	13	binding	bind	VERB
cblr-12479	522	14	for	for	ADP
cblr-12479	522	15	all	all	DET
cblr-12479	522	16	members.158	members.158	NOUN
cblr-12479	522	17	in	in	ADP
cblr-12479	522	18	doing	do	VERB
cblr-12479	522	19	so	so	ADV
cblr-12479	522	20	,	,	PUNCT
cblr-12479	522	21	they	they	PRON
cblr-12479	522	22	eliminate	eliminate	VERB
cblr-12479	522	23	the	the	DET
cblr-12479	522	24	need	need	NOUN
cblr-12479	522	25	to	to	PART
cblr-12479	522	26	negotiate	negotiate	VERB
cblr-12479	522	27	and	and	CCONJ
cblr-12479	522	28	unanimously	unanimously	ADV
cblr-12479	522	29	agree	agree	VERB
cblr-12479	522	30	on	on	ADP
cblr-12479	522	31	the	the	DET
cblr-12479	522	32	reallocation	reallocation	NOUN
cblr-12479	522	33	of	of	ADP
cblr-12479	522	34	property	property	NOUN
cblr-12479	522	35	and	and	CCONJ
cblr-12479	522	36	governance	governance	NOUN
cblr-12479	522	37	rights	right	NOUN
cblr-12479	522	38	when	when	SCONJ
cblr-12479	522	39	existing	existing	ADJ
cblr-12479	522	40	shares	share	NOUN
cblr-12479	522	41	are	be	AUX
cblr-12479	522	42	transferred	transfer	VERB
cblr-12479	522	43	,	,	PUNCT
cblr-12479	522	44	or	or	CCONJ
cblr-12479	522	45	new	new	ADJ
cblr-12479	522	46	shares	share	NOUN
cblr-12479	522	47	are	be	AUX
cblr-12479	522	48	issued	issue	VERB
cblr-12479	522	49	,	,	PUNCT
cblr-12479	522	50	ultimately	ultimately	ADV
cblr-12479	522	51	reducing	reduce	VERB
cblr-12479	522	52	transaction	transaction	NOUN
cblr-12479	522	53	costs.159	costs.159	PROPN
cblr-12479	522	54	a	a	DET
cblr-12479	522	55	shareholders	shareholder	NOUN
cblr-12479	522	56	’	'	PUNCT
cblr-12479	522	57	agreement	agreement	NOUN
cblr-12479	522	58	,	,	PUNCT
cblr-12479	522	59	on	on	ADP
cblr-12479	522	60	the	the	DET
cblr-12479	522	61	contrary	contrary	NOUN
cblr-12479	522	62	,	,	PUNCT
cblr-12479	522	63	only	only	ADV
cblr-12479	522	64	binds	bind	VERB
cblr-12479	522	65	its	its	PRON
cblr-12479	522	66	signatories,160	signatories,160	NOUN
cblr-12479	522	67	making	make	VERB
cblr-12479	522	68	it	it	PRON
cblr-12479	522	69	necessary	necessary	ADJ
cblr-12479	522	70	to	to	PART
cblr-12479	522	71	revisit	revisit	VERB
cblr-12479	522	72	and	and	CCONJ
cblr-12479	522	73	likely	likely	ADV
cblr-12479	522	74	renegotiate	renegotiate	VERB
cblr-12479	522	75	the	the	DET
cblr-12479	522	76	terms	term	NOUN
cblr-12479	522	77	of	of	ADP
cblr-12479	522	78	the	the	DET
cblr-12479	522	79	agreement	agreement	NOUN
cblr-12479	522	80	whenever	whenever	SCONJ
cblr-12479	522	81	there	there	PRON
cblr-12479	522	82	are	be	VERB
cblr-12479	522	83	changes	change	NOUN
cblr-12479	522	84	in	in	ADP
cblr-12479	522	85	shareholder	shareholder	NOUN
cblr-12479	522	86	ownership	ownership	NOUN
cblr-12479	522	87	.	.	PUNCT
cblr-12479	523	1	the	the	DET
cblr-12479	523	2	costs	cost	NOUN
cblr-12479	523	3	of	of	ADP
cblr-12479	523	4	such	such	ADJ
cblr-12479	523	5	renegotiations	renegotiation	NOUN
cblr-12479	523	6	have	have	AUX
cblr-12479	523	7	been	be	AUX
cblr-12479	523	8	traditionally	traditionally	ADV
cblr-12479	523	9	perceived	perceive	VERB
cblr-12479	523	10	as	as	ADP
cblr-12479	523	11	marginal	marginal	ADJ
cblr-12479	523	12	for	for	ADP
cblr-12479	523	13	non	non	ADJ
cblr-12479	523	14	-	-	ADJ
cblr-12479	523	15	listed	listed	ADJ
cblr-12479	523	16	corporations	corporation	NOUN
cblr-12479	523	17	because	because	SCONJ
cblr-12479	523	18	of	of	ADP
cblr-12479	523	19	the	the	DET
cblr-12479	523	20	pervasive	pervasive	ADJ
cblr-12479	523	21	assumption	assumption	NOUN
cblr-12479	523	22	that	that	SCONJ
cblr-12479	523	23	they	they	PRON
cblr-12479	523	24	are	be	AUX
cblr-12479	523	25	run	run	VERB
cblr-12479	523	26	by	by	ADP
cblr-12479	523	27	closely	closely	ADV
cblr-12479	523	28	-	-	PUNCT
cblr-12479	523	29	related	relate	VERB
cblr-12479	523	30	individuals.161	individuals.161	ADJ
cblr-12479	523	31	for	for	ADP
cblr-12479	523	32	vc	vc	NOUN
cblr-12479	523	33	-	-	PUNCT
cblr-12479	523	34	backed	back	VERB
cblr-12479	523	35	startups	startup	NOUN
cblr-12479	523	36	,	,	PUNCT
cblr-12479	523	37	however	however	ADV
cblr-12479	523	38	,	,	PUNCT
cblr-12479	523	39	the	the	DET
cblr-12479	523	40	costs	cost	NOUN
cblr-12479	523	41	of	of	ADP
cblr-12479	523	42	negotiations	negotiation	NOUN
cblr-12479	523	43	can	can	AUX
cblr-12479	523	44	be	be	AUX
cblr-12479	523	45	particularly	particularly	ADV
cblr-12479	523	46	burdensome	burdensome	ADJ
cblr-12479	523	47	,	,	PUNCT
cblr-12479	523	48	given	give	VERB
cblr-12479	523	49	the	the	DET
cblr-12479	523	50	158	158	NUM
cblr-12479	523	51	kraakman	kraakman	NOUN
cblr-12479	523	52	et	et	PROPN
cblr-12479	523	53	al	al	PROPN
cblr-12479	523	54	.	.	PROPN
cblr-12479	523	55	,	,	PUNCT
cblr-12479	523	56	supra	supra	PROPN
cblr-12479	523	57	note	note	PROPN
cblr-12479	523	58	68	68	NUM
cblr-12479	523	59	,	,	PUNCT
cblr-12479	523	60	at	at	ADP
cblr-12479	523	61	17	17	NUM
cblr-12479	523	62	(	(	PUNCT
cblr-12479	523	63	“	"	PUNCT
cblr-12479	523	64	the	the	DET
cblr-12479	523	65	corporation	corporation	NOUN
cblr-12479	523	66	’s	’s	PART
cblr-12479	523	67	charter	charter	NOUN
cblr-12479	523	68	[	[	X
cblr-12479	523	69	or	or	CCONJ
cblr-12479	523	70	‘	'	PUNCT
cblr-12479	523	71	articles	article	NOUN
cblr-12479	523	72	of	of	ADP
cblr-12479	523	73	association	association	NOUN
cblr-12479	523	74	’	'	PUNCT
cblr-12479	523	75	or	or	CCONJ
cblr-12479	523	76	‘	'	PUNCT
cblr-12479	523	77	constitution	constitution	NOUN
cblr-12479	523	78	,	,	PUNCT
cblr-12479	523	79	’	'	PUNCT
cblr-12479	523	80	as	as	SCONJ
cblr-12479	523	81	it	it	PRON
cblr-12479	523	82	is	be	AUX
cblr-12479	523	83	termed	term	VERB
cblr-12479	523	84	in	in	ADP
cblr-12479	523	85	some	some	DET
cblr-12479	523	86	jurisdictions]	jurisdictions]	NOUN
cblr-12479	523	87	…	…	PUNCT
cblr-12479	523	88	sets	set	VERB
cblr-12479	523	89	out	out	ADP
cblr-12479	523	90	the	the	DET
cblr-12479	523	91	basic	basic	ADJ
cblr-12479	523	92	terms	term	NOUN
cblr-12479	523	93	of	of	ADP
cblr-12479	523	94	the	the	DET
cblr-12479	523	95	relationship	relationship	NOUN
cblr-12479	523	96	among	among	ADP
cblr-12479	523	97	the	the	DET
cblr-12479	523	98	firm	firm	NOUN
cblr-12479	523	99	’s	’s	PART
cblr-12479	523	100	shareholders	shareholder	NOUN
cblr-12479	523	101	,	,	PUNCT
cblr-12479	523	102	and	and	CCONJ
cblr-12479	523	103	between	between	ADP
cblr-12479	523	104	the	the	DET
cblr-12479	523	105	shareholders	shareholder	NOUN
cblr-12479	523	106	and	and	CCONJ
cblr-12479	523	107	the	the	DET
cblr-12479	523	108	firm	firm	NOUN
cblr-12479	523	109	’s	’s	PART
cblr-12479	523	110	directors	director	NOUN
cblr-12479	523	111	and	and	CCONJ
cblr-12479	523	112	other	other	ADJ
cblr-12479	523	113	managers	manager	NOUN
cblr-12479	523	114	.	.	PUNCT
cblr-12479	524	1	by	by	ADP
cblr-12479	524	2	explicit	explicit	ADJ
cblr-12479	524	3	or	or	CCONJ
cblr-12479	524	4	implicit	implicit	ADJ
cblr-12479	524	5	reference	reference	NOUN
cblr-12479	524	6	,	,	PUNCT
cblr-12479	524	7	the	the	DET
cblr-12479	524	8	charter	charter	NOUN
cblr-12479	524	9	can	can	AUX
cblr-12479	524	10	also	also	ADV
cblr-12479	524	11	become	become	VERB
cblr-12479	524	12	part	part	NOUN
cblr-12479	524	13	of	of	ADP
cblr-12479	524	14	the	the	DET
cblr-12479	524	15	contract	contract	NOUN
cblr-12479	524	16	between	between	ADP
cblr-12479	524	17	the	the	DET
cblr-12479	524	18	firm	firm	NOUN
cblr-12479	524	19	and	and	CCONJ
cblr-12479	524	20	its	its	PRON
cblr-12479	524	21	employees	employee	NOUN
cblr-12479	524	22	or	or	CCONJ
cblr-12479	524	23	creditors	creditor	NOUN
cblr-12479	524	24	”	"	PUNCT
cblr-12479	524	25	)	)	PUNCT
cblr-12479	524	26	;	;	PUNCT
cblr-12479	524	27	see	see	VERB
cblr-12479	524	28	also	also	ADV
cblr-12479	524	29	john	john	PROPN
cblr-12479	524	30	armour	armour	PROPN
cblr-12479	524	31	&	&	CCONJ
cblr-12479	524	32	michael	michael	PROPN
cblr-12479	524	33	j.	j.	PROPN
cblr-12479	524	34	whincop	whincop	PROPN
cblr-12479	524	35	,	,	PUNCT
cblr-12479	524	36	the	the	DET
cblr-12479	524	37	proprietary	proprietary	ADJ
cblr-12479	524	38	foundations	foundation	NOUN
cblr-12479	524	39	of	of	ADP
cblr-12479	524	40	corporate	corporate	ADJ
cblr-12479	524	41	law	law	NOUN
cblr-12479	524	42	,	,	PUNCT
cblr-12479	524	43	27	27	NUM
cblr-12479	524	44	oxf	oxf	NOUN
cblr-12479	524	45	.	.	PUNCT
cblr-12479	525	1	j.	j.	PROPN
cblr-12479	525	2	leg	leg	PROPN
cblr-12479	525	3	.	.	PUNCT
cblr-12479	526	1	stud	stud	PROPN
cblr-12479	526	2	.	.	PUNCT
cblr-12479	527	1	429	429	NUM
cblr-12479	527	2	(	(	PUNCT
cblr-12479	527	3	2007	2007	NUM
cblr-12479	527	4	)	)	PUNCT
cblr-12479	527	5	.	.	PUNCT
cblr-12479	528	1	159	159	NUM
cblr-12479	528	2	corporate	corporate	ADJ
cblr-12479	528	3	law	law	NOUN
cblr-12479	528	4	substitutes	substitute	VERB
cblr-12479	528	5	negotiation	negotiation	NOUN
cblr-12479	528	6	and	and	CCONJ
cblr-12479	528	7	unanimous	unanimous	ADJ
cblr-12479	528	8	agreement	agreement	NOUN
cblr-12479	528	9	with	with	ADP
cblr-12479	528	10	voting	voting	NOUN
cblr-12479	528	11	.	.	PUNCT
cblr-12479	529	1	see	see	VERB
cblr-12479	529	2	easterbrook	easterbrook	PROPN
cblr-12479	529	3	&	&	CCONJ
cblr-12479	529	4	fischel	fischel	PROPN
cblr-12479	529	5	,	,	PUNCT
cblr-12479	529	6	supra	supra	PROPN
cblr-12479	529	7	note	note	PROPN
cblr-12479	529	8	65	65	NUM
cblr-12479	529	9	,	,	PUNCT
cblr-12479	529	10	at	at	ADP
cblr-12479	529	11	398	398	NUM
cblr-12479	529	12	(	(	PUNCT
cblr-12479	529	13	“	"	PUNCT
cblr-12479	529	14	the	the	DET
cblr-12479	529	15	states	state	NOUN
cblr-12479	529	16	’	'	PUNCT
cblr-12479	529	17	legal	legal	ADJ
cblr-12479	529	18	rules	rule	NOUN
cblr-12479	529	19	generally	generally	ADV
cblr-12479	529	20	provide	provide	VERB
cblr-12479	529	21	investors	investor	NOUN
cblr-12479	529	22	with	with	ADP
cblr-12479	529	23	the	the	DET
cblr-12479	529	24	sort	sort	NOUN
cblr-12479	529	25	of	of	ADP
cblr-12479	529	26	voting	voting	NOUN
cblr-12479	529	27	arrangements	arrangement	NOUN
cblr-12479	529	28	they	they	PRON
cblr-12479	529	29	would	would	AUX
cblr-12479	529	30	find	find	VERB
cblr-12479	529	31	desirable	desirable	ADJ
cblr-12479	529	32	if	if	SCONJ
cblr-12479	529	33	contracts	contract	NOUN
cblr-12479	529	34	could	could	AUX
cblr-12479	529	35	be	be	AUX
cblr-12479	529	36	arranged	arrange	VERB
cblr-12479	529	37	and	and	CCONJ
cblr-12479	529	38	enforced	enforce	VERB
cblr-12479	529	39	at	at	ADP
cblr-12479	529	40	low	low	ADJ
cblr-12479	529	41	cost	cost	NOUN
cblr-12479	529	42	.	.	PUNCT
cblr-12479	529	43	”	"	PUNCT
cblr-12479	529	44	)	)	PUNCT
cblr-12479	529	45	;	;	PUNCT
cblr-12479	529	46	see	see	VERB
cblr-12479	529	47	also	also	ADV
cblr-12479	529	48	armour	armour	NOUN
cblr-12479	529	49	and	and	CCONJ
cblr-12479	529	50	whincop	whincop	NOUN
cblr-12479	529	51	,	,	PUNCT
cblr-12479	529	52	supra	supra	PROPN
cblr-12479	529	53	note	note	PROPN
cblr-12479	529	54	159	159	NUM
cblr-12479	529	55	,	,	PUNCT
cblr-12479	529	56	at	at	ADP
cblr-12479	529	57	451	451	NUM
cblr-12479	529	58	-	-	SYM
cblr-12479	529	59	52	52	NUM
cblr-12479	529	60	(	(	PUNCT
cblr-12479	529	61	“	"	PUNCT
cblr-12479	529	62	[	[	X
cblr-12479	529	63	corporate	corporate	ADJ
cblr-12479	529	64	law	law	NOUN
cblr-12479	529	65	]	]	PUNCT
cblr-12479	529	66	performs	perform	VERB
cblr-12479	529	67	an	an	DET
cblr-12479	529	68	important	important	ADJ
cblr-12479	529	69	additional	additional	ADJ
cblr-12479	529	70	role	role	NOUN
cblr-12479	529	71	in	in	ADP
cblr-12479	529	72	supporting	support	VERB
cblr-12479	529	73	the	the	DET
cblr-12479	529	74	enforcement	enforcement	NOUN
cblr-12479	529	75	of	of	ADP
cblr-12479	529	76	these	these	DET
cblr-12479	529	77	‘	'	PUNCT
cblr-12479	529	78	contractual	contractual	ADJ
cblr-12479	529	79	’	'	PUNCT
cblr-12479	529	80	arrangements	arrangement	NOUN
cblr-12479	529	81	against	against	ADP
cblr-12479	529	82	third	third	ADJ
cblr-12479	529	83	parties	party	NOUN
cblr-12479	529	84	.	.	PUNCT
cblr-12479	530	1	this	this	PRON
cblr-12479	530	2	comes	come	VERB
cblr-12479	530	3	into	into	ADP
cblr-12479	530	4	play	play	NOUN
cblr-12479	530	5	in	in	ADP
cblr-12479	530	6	situations	situation	NOUN
cblr-12479	530	7	where	where	SCONJ
cblr-12479	530	8	one	one	NUM
cblr-12479	530	9	of	of	ADP
cblr-12479	530	10	the	the	DET
cblr-12479	530	11	parties	party	NOUN
cblr-12479	530	12	—	—	PUNCT
cblr-12479	530	13	a	a	DET
cblr-12479	530	14	director	director	NOUN
cblr-12479	530	15	or	or	CCONJ
cblr-12479	530	16	shareholder	shareholder	NOUN
cblr-12479	530	17	—	—	PUNCT
cblr-12479	530	18	acts	act	VERB
cblr-12479	530	19	without	without	ADP
cblr-12479	530	20	authority	authority	NOUN
cblr-12479	530	21	under	under	ADP
cblr-12479	530	22	the	the	DET
cblr-12479	530	23	constitution	constitution	NOUN
cblr-12479	530	24	[	[	X
cblr-12479	530	25	i.e.	i.e.	X
cblr-12479	530	26	,	,	PUNCT
cblr-12479	530	27	articles	article	NOUN
cblr-12479	530	28	of	of	ADP
cblr-12479	530	29	incorporation	incorporation	NOUN
cblr-12479	530	30	,	,	PUNCT
cblr-12479	530	31	charters	charter	NOUN
cblr-12479	530	32	and	and	CCONJ
cblr-12479	530	33	bylaws	bylaw	NOUN
cblr-12479	530	34	]	]	PUNCT
cblr-12479	530	35	or	or	CCONJ
cblr-12479	530	36	in	in	ADP
cblr-12479	530	37	breach	breach	NOUN
cblr-12479	530	38	of	of	ADP
cblr-12479	530	39	their	their	PRON
cblr-12479	530	40	duties	duty	NOUN
cblr-12479	530	41	(	(	PUNCT
cblr-12479	530	42	where	where	SCONJ
cblr-12479	530	43	applicable	applicable	ADJ
cblr-12479	530	44	)	)	PUNCT
cblr-12479	530	45	,	,	PUNCT
cblr-12479	530	46	in	in	ADP
cblr-12479	530	47	a	a	DET
cblr-12479	530	48	transaction	transaction	NOUN
cblr-12479	530	49	involving	involve	VERB
cblr-12479	530	50	a	a	DET
cblr-12479	530	51	third	third	ADJ
cblr-12479	530	52	party	party	NOUN
cblr-12479	530	53	.	.	PUNCT
cblr-12479	531	1	that	that	PRON
cblr-12479	531	2	is	be	AUX
cblr-12479	531	3	,	,	PUNCT
cblr-12479	531	4	there	there	PRON
cblr-12479	531	5	is	be	VERB
cblr-12479	531	6	an	an	DET
cblr-12479	531	7	attempted	attempt	VERB
cblr-12479	531	8	alienation	alienation	NOUN
cblr-12479	531	9	or	or	CCONJ
cblr-12479	531	10	grant	grant	NOUN
cblr-12479	531	11	of	of	ADP
cblr-12479	531	12	entitlements	entitlement	NOUN
cblr-12479	531	13	in	in	ADP
cblr-12479	531	14	respect	respect	NOUN
cblr-12479	531	15	of	of	ADP
cblr-12479	531	16	corporate	corporate	ADJ
cblr-12479	531	17	assets	asset	NOUN
cblr-12479	531	18	that	that	PRON
cblr-12479	531	19	is	be	AUX
cblr-12479	531	20	contrary	contrary	ADJ
cblr-12479	531	21	to	to	ADP
cblr-12479	531	22	the	the	DET
cblr-12479	531	23	parties	party	NOUN
cblr-12479	531	24	’	’	PART
cblr-12479	531	25	internal	internal	ADJ
cblr-12479	531	26	arrangement	arrangement	NOUN
cblr-12479	531	27	about	about	ADP
cblr-12479	531	28	how	how	SCONJ
cblr-12479	531	29	these	these	DET
cblr-12479	531	30	entitlements	entitlement	NOUN
cblr-12479	531	31	are	be	AUX
cblr-12479	531	32	to	to	PART
cblr-12479	531	33	be	be	AUX
cblr-12479	531	34	shared	share	VERB
cblr-12479	531	35	.	.	PUNCT
cblr-12479	532	1	this	this	PRON
cblr-12479	532	2	would	would	AUX
cblr-12479	532	3	encompass	encompass	VERB
cblr-12479	532	4	not	not	PART
cblr-12479	532	5	only	only	ADV
cblr-12479	532	6	attempts	attempt	VERB
cblr-12479	532	7	to	to	PART
cblr-12479	532	8	sell	sell	VERB
cblr-12479	532	9	the	the	DET
cblr-12479	532	10	assets	asset	NOUN
cblr-12479	532	11	,	,	PUNCT
cblr-12479	532	12	but	but	CCONJ
cblr-12479	532	13	also	also	ADV
cblr-12479	532	14	attempts	attempt	VERB
cblr-12479	532	15	to	to	PART
cblr-12479	532	16	use	use	VERB
cblr-12479	532	17	the	the	DET
cblr-12479	532	18	assets	asset	NOUN
cblr-12479	532	19	to	to	PART
cblr-12479	532	20	bond	bond	VERB
cblr-12479	532	21	unauthorized	unauthorized	ADJ
cblr-12479	532	22	contracts	contract	NOUN
cblr-12479	532	23	,	,	PUNCT
cblr-12479	532	24	or	or	CCONJ
cblr-12479	532	25	attempts	attempt	VERB
cblr-12479	532	26	to	to	PART
cblr-12479	532	27	allow	allow	VERB
cblr-12479	532	28	newcomers	newcomer	NOUN
cblr-12479	532	29	to	to	PART
cblr-12479	532	30	participate	participate	VERB
cblr-12479	532	31	in	in	ADP
cblr-12479	532	32	the	the	DET
cblr-12479	532	33	sharing	sharing	NOUN
cblr-12479	532	34	of	of	ADP
cblr-12479	532	35	control	control	NOUN
cblr-12479	532	36	of	of	ADP
cblr-12479	532	37	the	the	DET
cblr-12479	532	38	assets	asset	NOUN
cblr-12479	532	39	—	—	PUNCT
cblr-12479	532	40	that	that	ADV
cblr-12479	532	41	is	is	ADV
cblr-12479	532	42	,	,	PUNCT
cblr-12479	532	43	unauthorized	unauthorized	ADJ
cblr-12479	532	44	issues	issue	NOUN
cblr-12479	532	45	or	or	CCONJ
cblr-12479	532	46	transfers	transfer	NOUN
cblr-12479	532	47	of	of	ADP
cblr-12479	532	48	shares	share	NOUN
cblr-12479	532	49	,	,	PUNCT
cblr-12479	532	50	or	or	CCONJ
cblr-12479	532	51	putative	putative	ADJ
cblr-12479	532	52	appointment	appointment	NOUN
cblr-12479	532	53	of	of	ADP
cblr-12479	532	54	directors	director	NOUN
cblr-12479	532	55	.	.	PUNCT
cblr-12479	532	56	”	"	PUNCT
cblr-12479	532	57	)	)	PUNCT
cblr-12479	532	58	.	.	PUNCT
cblr-12479	533	1	160	160	NUM
cblr-12479	533	2	see	see	VERB
cblr-12479	533	3	supra	supra	PROPN
cblr-12479	533	4	section	section	NOUN
cblr-12479	533	5	iv.c	iv.c	VERB
cblr-12479	533	6	and	and	CCONJ
cblr-12479	533	7	note	note	VERB
cblr-12479	533	8	131	131	NUM
cblr-12479	533	9	(	(	PUNCT
cblr-12479	533	10	citing	cite	VERB
cblr-12479	533	11	examples	example	NOUN
cblr-12479	533	12	from	from	ADP
cblr-12479	533	13	portugal	portugal	PROPN
cblr-12479	533	14	and	and	CCONJ
cblr-12479	533	15	denmark	denmark	PROPN
cblr-12479	533	16	,	,	PUNCT
cblr-12479	533	17	where	where	SCONJ
cblr-12479	533	18	the	the	DET
cblr-12479	533	19	corporation	corporation	NOUN
cblr-12479	533	20	can	can	AUX
cblr-12479	533	21	not	not	PART
cblr-12479	533	22	be	be	AUX
cblr-12479	533	23	a	a	DET
cblr-12479	533	24	part	part	NOUN
cblr-12479	533	25	of	of	ADP
cblr-12479	533	26	the	the	DET
cblr-12479	533	27	agreement	agreement	NOUN
cblr-12479	533	28	.	.	PUNCT
cblr-12479	533	29	)	)	PUNCT
cblr-12479	534	1	161	161	NUM
cblr-12479	534	2	on	on	ADP
cblr-12479	534	3	this	this	DET
cblr-12479	534	4	assumption	assumption	NOUN
cblr-12479	534	5	,	,	PUNCT
cblr-12479	534	6	see	see	VERB
cblr-12479	534	7	pereira	pereira	PROPN
cblr-12479	534	8	,	,	PUNCT
cblr-12479	534	9	supra	supra	PROPN
cblr-12479	534	10	note	note	NOUN
cblr-12479	534	11	2	2	NUM
cblr-12479	534	12	.	.	PUNCT
cblr-12479	535	1	no	no	INTJ
cblr-12479	535	2	.	.	NOUN
cblr-12479	536	1	2	2	NUM
cblr-12479	536	2	]	]	PUNCT
cblr-12479	536	3	the	the	DET
cblr-12479	536	4	law	law	NOUN
cblr-12479	536	5	of	of	ADP
cblr-12479	536	6	contingent	contingent	NOUN
cblr-12479	536	7	control	control	VERB
cblr-12479	536	8	717	717	NUM
cblr-12479	536	9	heterogeneity	heterogeneity	NOUN
cblr-12479	536	10	of	of	ADP
cblr-12479	536	11	their	their	PRON
cblr-12479	536	12	shareholders	shareholder	NOUN
cblr-12479	536	13	,	,	PUNCT
cblr-12479	536	14	which	which	PRON
cblr-12479	536	15	may	may	AUX
cblr-12479	536	16	include	include	VERB
cblr-12479	536	17	seed	seed	NOUN
cblr-12479	536	18	and	and	CCONJ
cblr-12479	536	19	angel	angel	NOUN
cblr-12479	536	20	investors	investor	NOUN
cblr-12479	536	21	,	,	PUNCT
cblr-12479	536	22	venture	venture	NOUN
cblr-12479	536	23	capitalists	capitalist	NOUN
cblr-12479	536	24	,	,	PUNCT
cblr-12479	536	25	sovereign	sovereign	ADJ
cblr-12479	536	26	wealth	wealth	NOUN
cblr-12479	536	27	funds	fund	NOUN
cblr-12479	536	28	,	,	PUNCT
cblr-12479	536	29	founders	founder	NOUN
cblr-12479	536	30	,	,	PUNCT
cblr-12479	536	31	and	and	CCONJ
cblr-12479	536	32	employees	employee	NOUN
cblr-12479	536	33	,	,	PUNCT
cblr-12479	536	34	with	with	ADP
cblr-12479	536	35	various	various	ADJ
cblr-12479	536	36	levels	level	NOUN
cblr-12479	536	37	of	of	ADP
cblr-12479	536	38	sophistication	sophistication	NOUN
cblr-12479	536	39	,	,	PUNCT
cblr-12479	536	40	firm	firm	ADJ
cblr-12479	536	41	-	-	PUNCT
cblr-12479	536	42	specific	specific	ADJ
cblr-12479	536	43	knowledge	knowledge	NOUN
cblr-12479	536	44	,	,	PUNCT
cblr-12479	536	45	and	and	CCONJ
cblr-12479	536	46	bargaining	bargaining	NOUN
cblr-12479	536	47	powers.162	powers.162	NOUN
cblr-12479	536	48	increasing	increase	VERB
cblr-12479	536	49	the	the	DET
cblr-12479	536	50	costs	cost	NOUN
cblr-12479	536	51	of	of	ADP
cblr-12479	536	52	governance	governance	NOUN
cblr-12479	536	53	adjustments	adjustment	NOUN
cblr-12479	536	54	can	can	AUX
cblr-12479	536	55	delay	delay	VERB
cblr-12479	536	56	funding	funding	NOUN
cblr-12479	536	57	and	and	CCONJ
cblr-12479	536	58	impair	impair	VERB
cblr-12479	536	59	growth	growth	NOUN
cblr-12479	536	60	—	—	PUNCT
cblr-12479	536	61	or	or	CCONJ
cblr-12479	536	62	,	,	PUNCT
cblr-12479	536	63	even	even	ADV
cblr-12479	536	64	worse	bad	ADJ
cblr-12479	536	65	,	,	PUNCT
cblr-12479	536	66	permanently	permanently	ADV
cblr-12479	536	67	erode	erode	VERB
cblr-12479	536	68	trust	trust	NOUN
cblr-12479	536	69	and	and	CCONJ
cblr-12479	536	70	doom	doom	NOUN
cblr-12479	536	71	the	the	DET
cblr-12479	536	72	startup	startup	NOUN
cblr-12479	536	73	to	to	ADP
cblr-12479	536	74	failure	failure	NOUN
cblr-12479	536	75	.	.	PUNCT
cblr-12479	537	1	shareholders	shareholder	NOUN
cblr-12479	537	2	’	'	PUNCT
cblr-12479	537	3	agreements	agreement	NOUN
cblr-12479	537	4	also	also	ADV
cblr-12479	537	5	diminish	diminish	VERB
cblr-12479	537	6	the	the	DET
cblr-12479	537	7	beneficial	beneficial	ADJ
cblr-12479	537	8	transaction	transaction	NOUN
cblr-12479	537	9	cost	cost	NOUN
cblr-12479	537	10	reductions	reduction	NOUN
cblr-12479	537	11	that	that	PRON
cblr-12479	537	12	typically	typically	ADV
cblr-12479	537	13	derive	derive	VERB
cblr-12479	537	14	from	from	ADP
cblr-12479	537	15	standardization.163	standardization.163	NOUN
cblr-12479	537	16	firms	firm	NOUN
cblr-12479	537	17	often	often	ADV
cblr-12479	537	18	adjust	adjust	VERB
cblr-12479	537	19	their	their	PRON
cblr-12479	537	20	corporate	corporate	ADJ
cblr-12479	537	21	governance	governance	NOUN
cblr-12479	537	22	structures	structure	NOUN
cblr-12479	537	23	by	by	ADP
cblr-12479	537	24	replicating	replicate	VERB
cblr-12479	537	25	provisions	provision	NOUN
cblr-12479	537	26	from	from	ADP
cblr-12479	537	27	other	other	ADJ
cblr-12479	537	28	companies	company	NOUN
cblr-12479	537	29	’	'	PUNCT
cblr-12479	537	30	articles	article	NOUN
cblr-12479	537	31	,	,	PUNCT
cblr-12479	537	32	charters	charter	NOUN
cblr-12479	537	33	,	,	PUNCT
cblr-12479	537	34	and	and	CCONJ
cblr-12479	537	35	bylaws	bylaw	NOUN
cblr-12479	537	36	,	,	PUNCT
cblr-12479	537	37	until	until	SCONJ
cblr-12479	537	38	optimal	optimal	ADJ
cblr-12479	537	39	provisions	provision	NOUN
cblr-12479	537	40	become	become	VERB
cblr-12479	537	41	standard	standard	ADJ
cblr-12479	537	42	for	for	ADP
cblr-12479	537	43	specific	specific	ADJ
cblr-12479	537	44	purposes.164	purposes.164	NOUN
cblr-12479	537	45	the	the	DET
cblr-12479	537	46	confidentiality	confidentiality	NOUN
cblr-12479	537	47	of	of	ADP
cblr-12479	537	48	shareholders	shareholder	NOUN
cblr-12479	537	49	’	'	PUNCT
cblr-12479	537	50	agreements	agreement	NOUN
cblr-12479	537	51	hampers	hamper	VERB
cblr-12479	537	52	replication	replication	NOUN
cblr-12479	537	53	and	and	CCONJ
cblr-12479	537	54	,	,	PUNCT
cblr-12479	537	55	consequently	consequently	ADV
cblr-12479	537	56	,	,	PUNCT
cblr-12479	537	57	does	do	AUX
cblr-12479	537	58	not	not	PART
cblr-12479	537	59	allow	allow	VERB
cblr-12479	537	60	“	"	PUNCT
cblr-12479	537	61	private	private	ADJ
cblr-12479	537	62	ordering	ordering	NOUN
cblr-12479	537	63	innovations	innovation	NOUN
cblr-12479	537	64	to	to	PART
cblr-12479	537	65	disseminate	disseminate	VERB
cblr-12479	537	66	among	among	ADP
cblr-12479	537	67	firms	firm	NOUN
cblr-12479	537	68	.	.	PUNCT
cblr-12479	538	1	”165	”165	VERB
cblr-12479	538	2	this	this	DET
cblr-12479	538	3	barrier	barrier	NOUN
cblr-12479	538	4	to	to	ADP
cblr-12479	538	5	standardization	standardization	NOUN
cblr-12479	538	6	,	,	PUNCT
cblr-12479	538	7	in	in	ADP
cblr-12479	538	8	turn	turn	NOUN
cblr-12479	538	9	,	,	PUNCT
cblr-12479	538	10	increases	increase	VERB
cblr-12479	538	11	the	the	DET
cblr-12479	538	12	cost	cost	NOUN
cblr-12479	538	13	of	of	ADP
cblr-12479	538	14	entry	entry	NOUN
cblr-12479	538	15	for	for	ADP
cblr-12479	538	16	new	new	ADJ
cblr-12479	538	17	investors	investor	NOUN
cblr-12479	538	18	,	,	PUNCT
cblr-12479	538	19	ultimately	ultimately	ADV
cblr-12479	538	20	shrinking	shrink	VERB
cblr-12479	538	21	the	the	DET
cblr-12479	538	22	pool	pool	NOUN
cblr-12479	538	23	of	of	ADP
cblr-12479	538	24	vc	vc	PROPN
cblr-12479	538	25	funds	fund	NOUN
cblr-12479	538	26	162	162	NUM
cblr-12479	538	27	it	it	PRON
cblr-12479	538	28	is	be	AUX
cblr-12479	538	29	precisely	precisely	ADV
cblr-12479	538	30	this	this	DET
cblr-12479	538	31	shareholder	shareholder	NOUN
cblr-12479	538	32	heterogeneity	heterogeneity	NOUN
cblr-12479	538	33	that	that	PRON
cblr-12479	538	34	makes	make	VERB
cblr-12479	538	35	vc	vc	NOUN
cblr-12479	538	36	-	-	PUNCT
cblr-12479	538	37	backed	back	VERB
cblr-12479	538	38	startups	startup	NOUN
cblr-12479	538	39	uniquely	uniquely	ADV
cblr-12479	538	40	susceptible	susceptible	ADJ
cblr-12479	538	41	to	to	ADP
cblr-12479	538	42	issues	issue	NOUN
cblr-12479	538	43	among	among	ADP
cblr-12479	538	44	different	different	ADJ
cblr-12479	538	45	types	type	NOUN
cblr-12479	538	46	of	of	ADP
cblr-12479	538	47	shareholders	shareholder	NOUN
cblr-12479	538	48	,	,	PUNCT
cblr-12479	538	49	including	include	VERB
cblr-12479	538	50	among	among	ADP
cblr-12479	538	51	holders	holder	NOUN
cblr-12479	538	52	of	of	ADP
cblr-12479	538	53	preferred	preferred	ADJ
cblr-12479	538	54	stock	stock	NOUN
cblr-12479	538	55	with	with	ADP
cblr-12479	538	56	seemingly	seemingly	ADV
cblr-12479	538	57	aligned	align	VERB
cblr-12479	538	58	interests	interest	NOUN
cblr-12479	538	59	.	.	PUNCT
cblr-12479	539	1	see	see	VERB
cblr-12479	539	2	robert	robert	PROPN
cblr-12479	539	3	p.	p.	PROPN
cblr-12479	539	4	bartlett	bartlett	PROPN
cblr-12479	539	5	,	,	PUNCT
cblr-12479	539	6	iii	iii	PROPN
cblr-12479	539	7	,	,	PUNCT
cblr-12479	539	8	venture	venture	NOUN
cblr-12479	539	9	capital	capital	NOUN
cblr-12479	539	10	,	,	PUNCT
cblr-12479	539	11	agency	agency	NOUN
cblr-12479	539	12	costs	cost	NOUN
cblr-12479	539	13	,	,	PUNCT
cblr-12479	539	14	and	and	CCONJ
cblr-12479	539	15	the	the	DET
cblr-12479	539	16	false	false	ADJ
cblr-12479	539	17	dichotomy	dichotomy	NOUN
cblr-12479	539	18	of	of	ADP
cblr-12479	539	19	the	the	DET
cblr-12479	539	20	corporation	corporation	NOUN
cblr-12479	539	21	,	,	PUNCT
cblr-12479	539	22	54	54	NUM
cblr-12479	539	23	ucla	ucla	PROPN
cblr-12479	539	24	l.	l.	PROPN
cblr-12479	539	25	rev	rev	PROPN
cblr-12479	539	26	.	.	PROPN
cblr-12479	539	27	37	37	NUM
cblr-12479	539	28	,	,	PUNCT
cblr-12479	539	29	71–80	71–80	NUM
cblr-12479	539	30	(	(	PUNCT
cblr-12479	539	31	2006	2006	NUM
cblr-12479	539	32	)	)	PUNCT
cblr-12479	539	33	(	(	PUNCT
cblr-12479	539	34	discussing	discuss	VERB
cblr-12479	539	35	inter	inter	ADJ
cblr-12479	539	36	-	-	ADJ
cblr-12479	539	37	investor	investor	ADJ
cblr-12479	539	38	conflicts	conflict	NOUN
cblr-12479	539	39	over	over	ADP
cblr-12479	539	40	the	the	DET
cblr-12479	539	41	startup	startup	NOUN
cblr-12479	539	42	company	company	NOUN
cblr-12479	539	43	’s	’s	PART
cblr-12479	539	44	exit	exit	NOUN
cblr-12479	539	45	strategy	strategy	NOUN
cblr-12479	539	46	and	and	CCONJ
cblr-12479	539	47	future	future	ADJ
cblr-12479	539	48	financing	financing	NOUN
cblr-12479	539	49	.	.	PUNCT
cblr-12479	539	50	)	)	PUNCT
cblr-12479	540	1	163	163	NUM
cblr-12479	540	2	see	see	VERB
cblr-12479	540	3	fisch	fisch	PROPN
cblr-12479	540	4	,	,	PUNCT
cblr-12479	540	5	supra	supra	PROPN
cblr-12479	540	6	note	note	NOUN
cblr-12479	540	7	157	157	NUM
cblr-12479	540	8	at	at	ADP
cblr-12479	540	9	942–47	942–47	NUM
cblr-12479	540	10	.	.	NOUN
cblr-12479	540	11	164	164	NUM
cblr-12479	540	12	the	the	DET
cblr-12479	540	13	replication	replication	NOUN
cblr-12479	540	14	of	of	ADP
cblr-12479	540	15	provisions	provision	NOUN
cblr-12479	540	16	leads	lead	VERB
cblr-12479	540	17	to	to	ADP
cblr-12479	540	18	standardization	standardization	NOUN
cblr-12479	540	19	and	and	CCONJ
cblr-12479	540	20	takes	take	VERB
cblr-12479	540	21	place	place	NOUN
cblr-12479	540	22	both	both	CCONJ
cblr-12479	540	23	at	at	ADP
cblr-12479	540	24	the	the	DET
cblr-12479	540	25	moment	moment	NOUN
cblr-12479	540	26	of	of	ADP
cblr-12479	540	27	incorporation	incorporation	NOUN
cblr-12479	540	28	and	and	CCONJ
cblr-12479	540	29	through	through	ADP
cblr-12479	540	30	amendments	amendment	NOUN
cblr-12479	540	31	during	during	ADP
cblr-12479	540	32	later	later	ADJ
cblr-12479	540	33	stages	stage	NOUN
cblr-12479	540	34	.	.	PUNCT
cblr-12479	541	1	see	see	VERB
cblr-12479	541	2	frank	frank	PROPN
cblr-12479	541	3	h	h	PROPN
cblr-12479	541	4	easterbrook	easterbrook	PROPN
cblr-12479	541	5	&	&	CCONJ
cblr-12479	541	6	daniel	daniel	PROPN
cblr-12479	541	7	r	r	PROPN
cblr-12479	541	8	fischel	fischel	PROPN
cblr-12479	541	9	,	,	PUNCT
cblr-12479	541	10	the	the	DET
cblr-12479	541	11	corporate	corporate	ADJ
cblr-12479	541	12	contract	contract	NOUN
cblr-12479	541	13	,	,	PUNCT
cblr-12479	541	14	89	89	NUM
cblr-12479	541	15	colum	colum	NOUN
cblr-12479	541	16	.	.	PUNCT
cblr-12479	542	1	l.	l.	PROPN
cblr-12479	542	2	rev	rev	PROPN
cblr-12479	542	3	.	.	PROPN
cblr-12479	542	4	1416	1416	NUM
cblr-12479	542	5	,	,	PUNCT
cblr-12479	542	6	1443	1443	NUM
cblr-12479	542	7	(	(	PUNCT
cblr-12479	542	8	1989	1989	NUM
cblr-12479	542	9	)	)	PUNCT
cblr-12479	542	10	(	(	PUNCT
cblr-12479	542	11	for	for	ADP
cblr-12479	542	12	a	a	DET
cblr-12479	542	13	discussion	discussion	NOUN
cblr-12479	542	14	on	on	ADP
cblr-12479	542	15	the	the	DET
cblr-12479	542	16	immediate	immediate	ADJ
cblr-12479	542	17	and	and	CCONJ
cblr-12479	542	18	long	long	ADJ
cblr-12479	542	19	-	-	PUNCT
cblr-12479	542	20	term	term	NOUN
cblr-12479	542	21	impact	impact	NOUN
cblr-12479	542	22	of	of	ADP
cblr-12479	542	23	corporate	corporate	ADJ
cblr-12479	542	24	governance	governance	NOUN
cblr-12479	542	25	amendments	amendment	NOUN
cblr-12479	542	26	or	or	CCONJ
cblr-12479	542	27	“	"	PUNCT
cblr-12479	542	28	latecomer	latecomer	NOUN
cblr-12479	542	29	terms	term	NOUN
cblr-12479	542	30	.	.	PUNCT
cblr-12479	542	31	”	"	PUNCT
cblr-12479	543	1	they	they	PRON
cblr-12479	543	2	argue	argue	VERB
cblr-12479	543	3	that	that	SCONJ
cblr-12479	543	4	“	"	PUNCT
cblr-12479	543	5	[	[	X
cblr-12479	543	6	t]he	t]he	X
cblr-12479	543	7	mechanism	mechanism	NOUN
cblr-12479	543	8	by	by	ADP
cblr-12479	543	9	which	which	PRON
cblr-12479	543	10	entrepreneurs	entrepreneur	NOUN
cblr-12479	543	11	and	and	CCONJ
cblr-12479	543	12	managers	manager	NOUN
cblr-12479	543	13	bear	bear	VERB
cblr-12479	543	14	the	the	DET
cblr-12479	543	15	cost	cost	NOUN
cblr-12479	543	16	of	of	ADP
cblr-12479	543	17	unfavourable	unfavourable	ADJ
cblr-12479	543	18	terms	term	NOUN
cblr-12479	543	19	does	do	AUX
cblr-12479	543	20	not	not	PART
cblr-12479	543	21	work	work	VERB
cblr-12479	543	22	—	—	PUNCT
cblr-12479	543	23	not	not	PART
cblr-12479	543	24	in	in	ADP
cblr-12479	543	25	any	any	DET
cblr-12479	543	26	direct	direct	ADJ
cblr-12479	543	27	way	way	NOUN
cblr-12479	543	28	,	,	PUNCT
cblr-12479	543	29	anyway	anyway	ADV
cblr-12479	543	30	—	—	PUNCT
cblr-12479	543	31	for	for	ADP
cblr-12479	543	32	latecomer	latecomer	NOUN
cblr-12479	543	33	terms	term	NOUN
cblr-12479	543	34	.	.	PUNCT
cblr-12479	544	1	it	it	PRON
cblr-12479	544	2	will	will	AUX
cblr-12479	544	3	work	work	VERB
cblr-12479	544	4	eventually	eventually	ADV
cblr-12479	544	5	.	.	PUNCT
cblr-12479	545	1	latecomer	latecomer	NOUN
cblr-12479	545	2	terms	term	NOUN
cblr-12479	545	3	that	that	PRON
cblr-12479	545	4	injure	injure	VERB
cblr-12479	545	5	investors	investor	NOUN
cblr-12479	545	6	will	will	AUX
cblr-12479	545	7	reduce	reduce	VERB
cblr-12479	545	8	the	the	DET
cblr-12479	545	9	firm	firm	NOUN
cblr-12479	545	10	’s	’s	PART
cblr-12479	545	11	ability	ability	NOUN
cblr-12479	545	12	to	to	PART
cblr-12479	545	13	raise	raise	VERB
cblr-12479	545	14	money	money	NOUN
cblr-12479	545	15	and	and	CCONJ
cblr-12479	545	16	compete	compete	VERB
cblr-12479	545	17	in	in	ADP
cblr-12479	545	18	product	product	NOUN
cblr-12479	545	19	markets	market	NOUN
cblr-12479	545	20	.	.	PUNCT
cblr-12479	546	1	but	but	CCONJ
cblr-12479	546	2	these	these	DET
cblr-12479	546	3	eventual	eventual	ADJ
cblr-12479	546	4	reactions	reaction	NOUN
cblr-12479	546	5	are	be	AUX
cblr-12479	546	6	not	not	PART
cblr-12479	546	7	remedies	remedy	NOUN
cblr-12479	546	8	;	;	PUNCT
cblr-12479	546	9	they	they	PRON
cblr-12479	546	10	explain	explain	VERB
cblr-12479	546	11	why	why	SCONJ
cblr-12479	546	12	firms	firm	NOUN
cblr-12479	546	13	that	that	PRON
cblr-12479	546	14	choose	choose	VERB
cblr-12479	546	15	inferior	inferior	ADJ
cblr-12479	546	16	governance	governance	NOUN
cblr-12479	546	17	devices	device	NOUN
cblr-12479	546	18	do	do	AUX
cblr-12479	546	19	not	not	PART
cblr-12479	546	20	survive	survive	VERB
cblr-12479	546	21	,	,	PUNCT
cblr-12479	546	22	and	and	CCONJ
cblr-12479	546	23	they	they	PRON
cblr-12479	546	24	show	show	VERB
cblr-12479	546	25	why	why	SCONJ
cblr-12479	546	26	widespread	widespread	ADJ
cblr-12479	546	27	,	,	PUNCT
cblr-12479	546	28	enduring	enduring	ADJ
cblr-12479	546	29	practices	practice	NOUN
cblr-12479	546	30	are	be	AUX
cblr-12479	546	31	likely	likely	ADJ
cblr-12479	546	32	to	to	PART
cblr-12479	546	33	be	be	AUX
cblr-12479	546	34	beneficial	beneficial	ADJ
cblr-12479	546	35	,	,	PUNCT
cblr-12479	546	36	but	but	CCONJ
cblr-12479	546	37	they	they	PRON
cblr-12479	546	38	do	do	VERB
cblr-12479	546	39	nothing	nothing	PRON
cblr-12479	546	40	for	for	ADP
cblr-12479	546	41	participants	participant	NOUN
cblr-12479	546	42	in	in	ADP
cblr-12479	546	43	the	the	DET
cblr-12479	546	44	ventures	venture	NOUN
cblr-12479	546	45	that	that	PRON
cblr-12479	546	46	are	be	AUX
cblr-12479	546	47	about	about	ADJ
cblr-12479	546	48	to	to	PART
cblr-12479	546	49	be	be	AUX
cblr-12479	546	50	ground	grind	VERB
cblr-12479	546	51	under	under	ADP
cblr-12479	546	52	by	by	ADP
cblr-12479	546	53	the	the	DET
cblr-12479	546	54	heel	heel	NOUN
cblr-12479	546	55	of	of	ADP
cblr-12479	546	56	history	history	NOUN
cblr-12479	546	57	.	.	PUNCT
cblr-12479	546	58	”	"	PUNCT
cblr-12479	546	59	)	)	PUNCT
cblr-12479	546	60	.	.	PUNCT
cblr-12479	547	1	i	i	PRON
cblr-12479	547	2	d.	d.	PROPN
cblr-12479	547	3	165	165	NUM
cblr-12479	547	4	see	see	VERB
cblr-12479	547	5	fisch	fisch	PROPN
cblr-12479	547	6	,	,	PUNCT
cblr-12479	547	7	supra	supra	PROPN
cblr-12479	547	8	note	note	NOUN
cblr-12479	547	9	157	157	NUM
cblr-12479	547	10	at	at	ADP
cblr-12479	547	11	948	948	NUM
cblr-12479	547	12	.	.	PUNCT
cblr-12479	547	13	718	718	NUM
cblr-12479	547	14	columbia	columbia	PROPN
cblr-12479	547	15	business	business	NOUN
cblr-12479	547	16	law	law	PROPN
cblr-12479	547	17	review	review	NOUN
cblr-12479	547	18	[	[	X
cblr-12479	547	19	vol	vol	NOUN
cblr-12479	547	20	.	.	PUNCT
cblr-12479	547	21	2023	2023	NUM
cblr-12479	547	22	operating	operate	VERB
cblr-12479	547	23	in	in	ADP
cblr-12479	547	24	a	a	DET
cblr-12479	547	25	given	give	VERB
cblr-12479	547	26	market	market	NOUN
cblr-12479	547	27	and	and	CCONJ
cblr-12479	547	28	reducing	reduce	VERB
cblr-12479	547	29	the	the	DET
cblr-12479	547	30	number	number	NOUN
cblr-12479	547	31	of	of	ADP
cblr-12479	547	32	startups	startup	NOUN
cblr-12479	547	33	that	that	PRON
cblr-12479	547	34	can	can	AUX
cblr-12479	547	35	access	access	VERB
cblr-12479	547	36	external	external	ADJ
cblr-12479	547	37	finance	finance	NOUN
cblr-12479	547	38	.	.	PUNCT
cblr-12479	548	1	an	an	DET
cblr-12479	548	2	additional	additional	ADJ
cblr-12479	548	3	barrier	barrier	NOUN
cblr-12479	548	4	to	to	ADP
cblr-12479	548	5	transaction	transaction	NOUN
cblr-12479	548	6	costs	cost	NOUN
cblr-12479	548	7	reductions	reduction	NOUN
cblr-12479	548	8	derives	derive	VERB
cblr-12479	548	9	from	from	ADP
cblr-12479	548	10	shareholders	shareholder	NOUN
cblr-12479	548	11	’	'	PUNCT
cblr-12479	548	12	agreements	agreement	NOUN
cblr-12479	548	13	scarce	scarce	ADJ
cblr-12479	548	14	exposure	exposure	NOUN
cblr-12479	548	15	to	to	ADP
cblr-12479	548	16	judicial	judicial	ADJ
cblr-12479	548	17	scrutiny	scrutiny	NOUN
cblr-12479	548	18	.	.	PUNCT
cblr-12479	549	1	courts	court	NOUN
cblr-12479	549	2	generally	generally	ADV
cblr-12479	549	3	provide	provide	VERB
cblr-12479	549	4	guidance	guidance	NOUN
cblr-12479	549	5	on	on	ADP
cblr-12479	549	6	what	what	PRON
cblr-12479	549	7	is	be	AUX
cblr-12479	549	8	permissible	permissible	ADJ
cblr-12479	549	9	under	under	ADP
cblr-12479	549	10	corporate	corporate	ADJ
cblr-12479	549	11	law.166	law.166	NOUN
cblr-12479	549	12	in	in	ADP
cblr-12479	549	13	the	the	DET
cblr-12479	549	14	venture	venture	NOUN
cblr-12479	549	15	finance	finance	NOUN
cblr-12479	549	16	context	context	NOUN
cblr-12479	549	17	,	,	PUNCT
cblr-12479	549	18	judicial	judicial	ADJ
cblr-12479	549	19	decisions	decision	NOUN
cblr-12479	549	20	can	can	AUX
cblr-12479	549	21	reduce	reduce	VERB
cblr-12479	549	22	founder	founder	NOUN
cblr-12479	549	23	-	-	PUNCT
cblr-12479	549	24	investor	investor	NOUN
cblr-12479	549	25	bargaining	bargaining	NOUN
cblr-12479	549	26	costs	cost	NOUN
cblr-12479	549	27	by	by	ADP
cblr-12479	549	28	helping	help	VERB
cblr-12479	549	29	parties	party	NOUN
cblr-12479	549	30	avoid	avoid	VERB
cblr-12479	549	31	frivolous	frivolous	ADJ
cblr-12479	549	32	negotiations	negotiation	NOUN
cblr-12479	549	33	over	over	ADP
cblr-12479	549	34	impermissible	impermissible	ADJ
cblr-12479	549	35	distributions	distribution	NOUN
cblr-12479	549	36	of	of	ADP
cblr-12479	549	37	cash	cash	NOUN
cblr-12479	549	38	flow	flow	NOUN
cblr-12479	549	39	and	and	CCONJ
cblr-12479	549	40	control	control	NOUN
cblr-12479	549	41	rights.167	rights.167	NOUN
cblr-12479	549	42	by	by	ADP
cblr-12479	549	43	design	design	NOUN
cblr-12479	549	44	,	,	PUNCT
cblr-12479	549	45	shareholders	shareholder	NOUN
cblr-12479	549	46	’	'	PUNCT
cblr-12479	549	47	agreements	agreement	NOUN
cblr-12479	549	48	are	be	AUX
cblr-12479	549	49	less	less	ADV
cblr-12479	549	50	likely	likely	ADJ
cblr-12479	549	51	to	to	PART
cblr-12479	549	52	be	be	AUX
cblr-12479	549	53	litigated	litigate	VERB
cblr-12479	549	54	because	because	SCONJ
cblr-12479	549	55	contractual	contractual	ADJ
cblr-12479	549	56	lawsuits	lawsuit	NOUN
cblr-12479	549	57	generally	generally	ADV
cblr-12479	549	58	require	require	VERB
cblr-12479	549	59	bringing	bring	VERB
cblr-12479	549	60	all	all	DET
cblr-12479	549	61	contractual	contractual	ADJ
cblr-12479	549	62	parties	party	NOUN
cblr-12479	549	63	to	to	ADP
cblr-12479	549	64	the	the	DET
cblr-12479	549	65	procedure.168	procedure.168	NOUN
cblr-12479	549	66	these	these	DET
cblr-12479	549	67	agreements	agreement	NOUN
cblr-12479	549	68	may	may	AUX
cblr-12479	549	69	also	also	ADV
cblr-12479	549	70	include	include	VERB
cblr-12479	549	71	deterring	deter	VERB
cblr-12479	549	72	penalties	penalty	NOUN
cblr-12479	549	73	for	for	ADP
cblr-12479	549	74	166	166	NUM
cblr-12479	549	75	see	see	VERB
cblr-12479	549	76	i	i	PROPN
cblr-12479	549	77	d.	d.	PROPN
cblr-12479	549	78	(	(	PUNCT
cblr-12479	549	79	arguing	argue	VERB
cblr-12479	549	80	that	that	SCONJ
cblr-12479	549	81	replication	replication	NOUN
cblr-12479	549	82	and	and	CCONJ
cblr-12479	549	83	standardization	standardization	NOUN
cblr-12479	549	84	of	of	ADP
cblr-12479	549	85	private	private	ADJ
cblr-12479	549	86	ordering	ordering	NOUN
cblr-12479	549	87	innovations	innovation	NOUN
cblr-12479	549	88	through	through	ADP
cblr-12479	549	89	network	network	NOUN
cblr-12479	549	90	effects	effect	NOUN
cblr-12479	549	91	is	be	AUX
cblr-12479	549	92	diminished	diminish	VERB
cblr-12479	549	93	further	far	ADV
cblr-12479	549	94	by	by	ADP
cblr-12479	549	95	the	the	DET
cblr-12479	549	96	lack	lack	NOUN
cblr-12479	549	97	of	of	ADP
cblr-12479	549	98	judicial	judicial	ADJ
cblr-12479	549	99	scrutiny	scrutiny	NOUN
cblr-12479	549	100	:	:	PUNCT
cblr-12479	549	101	“	"	PUNCT
cblr-12479	549	102	these	these	DET
cblr-12479	549	103	efforts	effort	NOUN
cblr-12479	549	104	are	be	AUX
cblr-12479	549	105	aided	aid	VERB
cblr-12479	549	106	by	by	ADP
cblr-12479	549	107	judicial	judicial	ADJ
cblr-12479	549	108	decisions	decision	NOUN
cblr-12479	549	109	such	such	ADJ
cblr-12479	549	110	as	as	ADP
cblr-12479	549	111	boilermakers	boilermaker	NOUN
cblr-12479	549	112	and	and	CCONJ
cblr-12479	549	113	atp	atp	NOUN
cblr-12479	549	114	which	which	PRON
cblr-12479	549	115	provide	provide	VERB
cblr-12479	549	116	firms	firm	NOUN
cblr-12479	549	117	with	with	ADP
cblr-12479	549	118	clear	clear	ADJ
cblr-12479	549	119	guidance	guidance	NOUN
cblr-12479	549	120	on	on	ADP
cblr-12479	549	121	the	the	DET
cblr-12479	549	122	validity	validity	NOUN
cblr-12479	549	123	of	of	ADP
cblr-12479	549	124	such	such	ADJ
cblr-12479	549	125	innovations	innovation	NOUN
cblr-12479	549	126	.	.	PUNCT
cblr-12479	549	127	”	"	PUNCT
cblr-12479	549	128	)	)	PUNCT
cblr-12479	549	129	;	;	PUNCT
cblr-12479	549	130	see	see	VERB
cblr-12479	549	131	also	also	ADV
cblr-12479	549	132	kraakman	kraakman	VERB
cblr-12479	549	133	et	et	PROPN
cblr-12479	549	134	al	al	PROPN
cblr-12479	549	135	.	.	PROPN
cblr-12479	549	136	,	,	PUNCT
cblr-12479	549	137	supra	supra	PROPN
cblr-12479	549	138	note	note	PROPN
cblr-12479	549	139	68	68	NUM
cblr-12479	549	140	,	,	PUNCT
cblr-12479	549	141	at	at	ADP
cblr-12479	549	142	20	20	NUM
cblr-12479	549	143	(	(	PUNCT
cblr-12479	549	144	“	"	PUNCT
cblr-12479	549	145	courts	court	NOUN
cblr-12479	549	146	play	play	VERB
cblr-12479	549	147	a	a	DET
cblr-12479	549	148	key	key	ADJ
cblr-12479	549	149	role	role	NOUN
cblr-12479	549	150	in	in	ADP
cblr-12479	549	151	filling	fill	VERB
cblr-12479	549	152	gaps	gap	NOUN
cblr-12479	549	153	,	,	PUNCT
cblr-12479	549	154	simply	simply	ADV
cblr-12479	549	155	by	by	ADP
cblr-12479	549	156	interpreting	interpret	VERB
cblr-12479	549	157	privately	privately	ADV
cblr-12479	549	158	drafted	draft	VERB
cblr-12479	549	159	contractual	contractual	ADJ
cblr-12479	549	160	terms	term	NOUN
cblr-12479	549	161	in	in	ADP
cblr-12479	549	162	a	a	DET
cblr-12479	549	163	corporation	corporation	NOUN
cblr-12479	549	164	’s	’s	PART
cblr-12479	549	165	charter	charter	NOUN
cblr-12479	549	166	.	.	PUNCT
cblr-12479	550	1	a	a	DET
cblr-12479	550	2	firm	firm	NOUN
cblr-12479	550	3	will	will	AUX
cblr-12479	550	4	get	get	VERB
cblr-12479	550	5	the	the	DET
cblr-12479	550	6	greatest	great	ADJ
cblr-12479	550	7	advantage	advantage	NOUN
cblr-12479	550	8	from	from	ADP
cblr-12479	550	9	the	the	DET
cblr-12479	550	10	courts	court	NOUN
cblr-12479	550	11	’	’	PART
cblr-12479	550	12	interpretive	interpretive	ADJ
cblr-12479	550	13	activity	activity	NOUN
cblr-12479	550	14	if	if	SCONJ
cblr-12479	550	15	it	it	PRON
cblr-12479	550	16	adopts	adopt	VERB
cblr-12479	550	17	standard	standard	ADJ
cblr-12479	550	18	charter	charter	NOUN
cblr-12479	550	19	terms	term	NOUN
cblr-12479	550	20	used	use	VERB
cblr-12479	550	21	by	by	ADP
cblr-12479	550	22	many	many	ADJ
cblr-12479	550	23	other	other	ADJ
cblr-12479	550	24	firms	firm	NOUN
cblr-12479	550	25	,	,	PUNCT
cblr-12479	550	26	since	since	SCONJ
cblr-12479	550	27	those	those	DET
cblr-12479	550	28	standard	standard	ADJ
cblr-12479	550	29	terms	term	NOUN
cblr-12479	550	30	are	be	AUX
cblr-12479	550	31	likely	likely	ADJ
cblr-12479	550	32	to	to	PART
cblr-12479	550	33	be	be	AUX
cblr-12479	550	34	subject	subject	ADJ
cblr-12479	550	35	to	to	ADP
cblr-12479	550	36	repeated	repeat	VERB
cblr-12479	550	37	interpretation	interpretation	NOUN
cblr-12479	550	38	by	by	ADP
cblr-12479	550	39	the	the	DET
cblr-12479	550	40	courts	court	NOUN
cblr-12479	550	41	.	.	PUNCT
cblr-12479	551	1	and	and	CCONJ
cblr-12479	551	2	the	the	DET
cblr-12479	551	3	most	most	ADV
cblr-12479	551	4	widely	widely	ADV
cblr-12479	551	5	used	use	VERB
cblr-12479	551	6	standard	standard	ADJ
cblr-12479	551	7	charter	charter	NOUN
cblr-12479	551	8	terms	term	NOUN
cblr-12479	551	9	are	be	AUX
cblr-12479	551	10	often	often	ADV
cblr-12479	551	11	the	the	DET
cblr-12479	551	12	default	default	NOUN
cblr-12479	551	13	rules	rule	NOUN
cblr-12479	551	14	embodied	embody	VERB
cblr-12479	551	15	in	in	ADP
cblr-12479	551	16	the	the	DET
cblr-12479	551	17	corporation	corporation	NOUN
cblr-12479	551	18	law	law	NOUN
cblr-12479	551	19	.	.	PUNCT
cblr-12479	551	20	”	"	PUNCT
cblr-12479	551	21	)	)	PUNCT
cblr-12479	551	22	.	.	PUNCT
cblr-12479	552	1	167	167	NUM
cblr-12479	552	2	trados	trado	NOUN
cblr-12479	552	3	is	be	AUX
cblr-12479	552	4	a	a	DET
cblr-12479	552	5	good	good	ADJ
cblr-12479	552	6	example	example	NOUN
cblr-12479	552	7	,	,	PUNCT
cblr-12479	552	8	as	as	SCONJ
cblr-12479	552	9	it	it	PRON
cblr-12479	552	10	is	be	AUX
cblr-12479	552	11	one	one	NUM
cblr-12479	552	12	of	of	ADP
cblr-12479	552	13	the	the	DET
cblr-12479	552	14	few	few	ADJ
cblr-12479	552	15	decisions	decision	NOUN
cblr-12479	552	16	that	that	PRON
cblr-12479	552	17	involved	involve	VERB
cblr-12479	552	18	judicial	judicial	ADJ
cblr-12479	552	19	scrutiny	scrutiny	NOUN
cblr-12479	552	20	of	of	ADP
cblr-12479	552	21	a	a	DET
cblr-12479	552	22	vc	vc	ADV
cblr-12479	552	23	-	-	PUNCT
cblr-12479	552	24	backed	back	VERB
cblr-12479	552	25	startup	startup	NOUN
cblr-12479	552	26	’s	’s	PART
cblr-12479	552	27	articles	article	NOUN
cblr-12479	552	28	of	of	ADP
cblr-12479	552	29	incorporation	incorporation	NOUN
cblr-12479	552	30	,	,	PUNCT
cblr-12479	552	31	charter	charter	NOUN
cblr-12479	552	32	,	,	PUNCT
cblr-12479	552	33	bylaws	bylaw	NOUN
cblr-12479	552	34	,	,	PUNCT
cblr-12479	552	35	and	and	CCONJ
cblr-12479	552	36	other	other	ADJ
cblr-12479	552	37	contractual	contractual	ADJ
cblr-12479	552	38	arrangements	arrangement	NOUN
cblr-12479	552	39	.	.	PUNCT
cblr-12479	553	1	in	in	ADP
cblr-12479	553	2	re	re	PROPN
cblr-12479	553	3	trados	trados	PROPN
cblr-12479	553	4	inc	inc	PROPN
cblr-12479	553	5	.	.	PROPN
cblr-12479	553	6	s’holder	s’holder	PROPN
cblr-12479	553	7	litig	litig	PROPN
cblr-12479	553	8	.	.	PUNCT
cblr-12479	554	1	,	,	PUNCT
cblr-12479	554	2	73	73	NUM
cblr-12479	554	3	a.3d	a.3d	SYM
cblr-12479	554	4	17	17	NUM
cblr-12479	554	5	,	,	PUNCT
cblr-12479	554	6	20	20	NUM
cblr-12479	554	7	(	(	PUNCT
cblr-12479	554	8	del	del	PROPN
cblr-12479	554	9	.	.	PROPN
cblr-12479	554	10	ch	ch	PROPN
cblr-12479	554	11	.	.	PROPN
cblr-12479	554	12	2013	2013	NUM
cblr-12479	554	13	)	)	PUNCT
cblr-12479	554	14	.	.	PUNCT
cblr-12479	555	1	in	in	ADP
cblr-12479	555	2	reaction	reaction	NOUN
cblr-12479	555	3	,	,	PUNCT
cblr-12479	555	4	the	the	DET
cblr-12479	555	5	nvca	nvca	PROPN
cblr-12479	555	6	model	model	NOUN
cblr-12479	555	7	voting	voting	NOUN
cblr-12479	555	8	agreement	agreement	NOUN
cblr-12479	555	9	included	include	VERB
cblr-12479	555	10	a	a	DET
cblr-12479	555	11	new	new	ADJ
cblr-12479	555	12	provision	provision	NOUN
cblr-12479	555	13	,	,	PUNCT
cblr-12479	555	14	the	the	DET
cblr-12479	555	15	sale	sale	NOUN
cblr-12479	555	16	right	right	NOUN
cblr-12479	555	17	,	,	PUNCT
cblr-12479	555	18	“	"	PUNCT
cblr-12479	555	19	designed	design	VERB
cblr-12479	555	20	to	to	PART
cblr-12479	555	21	insulate	insulate	VERB
cblr-12479	555	22	the	the	DET
cblr-12479	555	23	board	board	NOUN
cblr-12479	555	24	from	from	ADP
cblr-12479	555	25	a	a	DET
cblr-12479	555	26	trados	trado	NOUN
cblr-12479	555	27	-	-	PUNCT
cblr-12479	555	28	type	type	NOUN
cblr-12479	555	29	claim	claim	NOUN
cblr-12479	555	30	.	.	PUNCT
cblr-12479	556	1	in	in	ADP
cblr-12479	556	2	particular	particular	ADJ
cblr-12479	556	3	,	,	PUNCT
cblr-12479	556	4	since	since	SCONJ
cblr-12479	556	5	this	this	DET
cblr-12479	556	6	section	section	NOUN
cblr-12479	556	7	provides	provide	VERB
cblr-12479	556	8	for	for	ADP
cblr-12479	556	9	redemption	redemption	NOUN
cblr-12479	556	10	rights	right	NOUN
cblr-12479	556	11	additional	additional	ADJ
cblr-12479	556	12	to	to	ADP
cblr-12479	556	13	any	any	PRON
cblr-12479	556	14	that	that	PRON
cblr-12479	556	15	may	may	AUX
cblr-12479	556	16	be	be	AUX
cblr-12479	556	17	included	include	VERB
cblr-12479	556	18	in	in	ADP
cblr-12479	556	19	the	the	DET
cblr-12479	556	20	certificate	certificate	NOUN
cblr-12479	556	21	of	of	ADP
cblr-12479	556	22	incorporation	incorporation	NOUN
cblr-12479	556	23	,	,	PUNCT
cblr-12479	556	24	selling	sell	VERB
cblr-12479	556	25	the	the	DET
cblr-12479	556	26	company	company	NOUN
cblr-12479	556	27	may	may	AUX
cblr-12479	556	28	be	be	AUX
cblr-12479	556	29	the	the	DET
cblr-12479	556	30	only	only	ADJ
cblr-12479	556	31	means	mean	NOUN
cblr-12479	556	32	by	by	ADP
cblr-12479	556	33	which	which	PRON
cblr-12479	556	34	the	the	DET
cblr-12479	556	35	board	board	NOUN
cblr-12479	556	36	is	be	AUX
cblr-12479	556	37	able	able	ADJ
cblr-12479	556	38	to	to	PART
cblr-12479	556	39	honor	honor	VERB
cblr-12479	556	40	this	this	DET
cblr-12479	556	41	contractual	contractual	ADJ
cblr-12479	556	42	“	"	PUNCT
cblr-12479	556	43	put	put	VERB
cblr-12479	556	44	”	"	PUNCT
cblr-12479	556	45	obligation	obligation	NOUN
cblr-12479	556	46	.	.	PUNCT
cblr-12479	556	47	”	"	PUNCT
cblr-12479	557	1	nat’l	nat’l	PROPN
cblr-12479	557	2	venture	venture	NOUN
cblr-12479	557	3	cap	cap	NOUN
cblr-12479	557	4	.	.	PUNCT
cblr-12479	558	1	ass’n	ass’n	ADV
cblr-12479	558	2	,	,	PUNCT
cblr-12479	558	3	supra	supra	PROPN
cblr-12479	558	4	note	note	NOUN
cblr-12479	558	5	129	129	NUM
cblr-12479	558	6	,	,	PUNCT
cblr-12479	558	7	at	at	ADP
cblr-12479	558	8	n.47	n.47	X
cblr-12479	558	9	.	.	PUNCT
cblr-12479	559	1	there	there	PRON
cblr-12479	559	2	is	be	VERB
cblr-12479	559	3	also	also	ADV
cblr-12479	559	4	evidence	evidence	NOUN
cblr-12479	559	5	that	that	SCONJ
cblr-12479	559	6	startup	startup	NOUN
cblr-12479	559	7	boards	board	NOUN
cblr-12479	559	8	,	,	PUNCT
cblr-12479	559	9	following	follow	VERB
cblr-12479	559	10	legal	legal	ADJ
cblr-12479	559	11	advice	advice	NOUN
cblr-12479	559	12	,	,	PUNCT
cblr-12479	559	13	adjusted	adjust	VERB
cblr-12479	559	14	their	their	PRON
cblr-12479	559	15	processes	process	NOUN
cblr-12479	559	16	when	when	SCONJ
cblr-12479	559	17	deciding	decide	VERB
cblr-12479	559	18	whether	whether	SCONJ
cblr-12479	559	19	to	to	PART
cblr-12479	559	20	sell	sell	VERB
cblr-12479	559	21	the	the	DET
cblr-12479	559	22	company	company	NOUN
cblr-12479	559	23	.	.	PUNCT
cblr-12479	560	1	see	see	VERB
cblr-12479	560	2	abraham	abraham	PROPN
cblr-12479	560	3	j.	j.	PROPN
cblr-12479	560	4	b.	b.	PROPN
cblr-12479	560	5	cable	cable	PROPN
cblr-12479	560	6	,	,	PUNCT
cblr-12479	560	7	does	do	AUX
cblr-12479	560	8	trados	trado	NOUN
cblr-12479	560	9	matter	matter	VERB
cblr-12479	560	10	?	?	PUNCT
cblr-12479	560	11	,	,	PUNCT
cblr-12479	560	12	45	45	NUM
cblr-12479	560	13	j.	j.	PROPN
cblr-12479	560	14	corp	corp	PROPN
cblr-12479	560	15	.	.	PROPN
cblr-12479	560	16	l.	l.	PROPN
cblr-12479	560	17	101	101	NUM
cblr-12479	560	18	,	,	PUNCT
cblr-12479	560	19	103	103	NUM
cblr-12479	560	20	(	(	PUNCT
cblr-12479	560	21	2019	2019	NUM
cblr-12479	560	22	)	)	PUNCT
cblr-12479	560	23	(	(	PUNCT
cblr-12479	560	24	finding	find	VERB
cblr-12479	560	25	,	,	PUNCT
cblr-12479	560	26	from	from	ADP
cblr-12479	560	27	20	20	NUM
cblr-12479	560	28	semi	semi	ADJ
cblr-12479	560	29	-	-	ADJ
cblr-12479	560	30	structured	structured	ADJ
cblr-12479	560	31	interviews	interview	NOUN
cblr-12479	560	32	with	with	ADP
cblr-12479	560	33	startup	startup	NOUN
cblr-12479	560	34	lawyers	lawyer	NOUN
cblr-12479	560	35	,	,	PUNCT
cblr-12479	560	36	that	that	SCONJ
cblr-12479	560	37	“	"	PUNCT
cblr-12479	560	38	interviewees	interviewee	NOUN
cblr-12479	560	39	report	report	VERB
cblr-12479	560	40	that	that	SCONJ
cblr-12479	560	41	trados	trado	NOUN
cblr-12479	560	42	does	do	AUX
cblr-12479	560	43	affect	affect	VERB
cblr-12479	560	44	the	the	DET
cblr-12479	560	45	process	process	NOUN
cblr-12479	560	46	of	of	ADP
cblr-12479	560	47	selling	sell	VERB
cblr-12479	560	48	a	a	DET
cblr-12479	560	49	startup	startup	NOUN
cblr-12479	560	50	.	.	PUNCT
cblr-12479	561	1	most	most	ADV
cblr-12479	561	2	noticeably	noticeably	ADV
cblr-12479	561	3	,	,	PUNCT
cblr-12479	561	4	boards	board	NOUN
cblr-12479	561	5	are	be	AUX
cblr-12479	561	6	more	more	ADV
cblr-12479	561	7	systematic	systematic	ADJ
cblr-12479	561	8	in	in	ADP
cblr-12479	561	9	assessing	assess	VERB
cblr-12479	561	10	the	the	DET
cblr-12479	561	11	value	value	NOUN
cblr-12479	561	12	of	of	ADP
cblr-12479	561	13	continuing	continue	VERB
cblr-12479	561	14	as	as	ADP
cblr-12479	561	15	a	a	DET
cblr-12479	561	16	company	company	NOUN
cblr-12479	561	17	.	.	PUNCT
cblr-12479	561	18	”	"	PUNCT
cblr-12479	561	19	)	)	PUNCT
cblr-12479	561	20	.	.	PUNCT
cblr-12479	562	1	168	168	NUM
cblr-12479	562	2	see	see	VERB
cblr-12479	562	3	supra	supra	PROPN
cblr-12479	562	4	notes	note	VERB
cblr-12479	562	5	131	131	NUM
cblr-12479	562	6	and	and	CCONJ
cblr-12479	562	7	132	132	NUM
cblr-12479	562	8	and	and	CCONJ
cblr-12479	562	9	accompanying	accompany	VERB
cblr-12479	562	10	text	text	NOUN
cblr-12479	562	11	.	.	PUNCT
cblr-12479	563	1	no	no	INTJ
cblr-12479	563	2	.	.	NOUN
cblr-12479	564	1	2	2	NUM
cblr-12479	564	2	]	]	PUNCT
cblr-12479	564	3	the	the	DET
cblr-12479	564	4	law	law	NOUN
cblr-12479	564	5	of	of	ADP
cblr-12479	564	6	contingent	contingent	NOUN
cblr-12479	564	7	control	control	NOUN
cblr-12479	564	8	719	719	NUM
cblr-12479	564	9	unsuccessful	unsuccessful	ADJ
cblr-12479	564	10	claimants	claimant	NOUN
cblr-12479	564	11	and	and	CCONJ
cblr-12479	564	12	arbitration	arbitration	NOUN
cblr-12479	564	13	clauses	clause	NOUN
cblr-12479	564	14	that	that	PRON
cblr-12479	564	15	effectively	effectively	ADV
cblr-12479	564	16	prevent	prevent	VERB
cblr-12479	564	17	judges	judge	NOUN
cblr-12479	564	18	from	from	ADP
cblr-12479	564	19	reviewing	review	VERB
cblr-12479	564	20	them.169	them.169	PRON
cblr-12479	564	21	shareholders	shareholder	NOUN
cblr-12479	564	22	’	'	PUNCT
cblr-12479	564	23	agreements	agreement	NOUN
cblr-12479	564	24	comparatively	comparatively	ADV
cblr-12479	564	25	low	low	ADJ
cblr-12479	564	26	exposure	exposure	NOUN
cblr-12479	564	27	to	to	ADP
cblr-12479	564	28	judicial	judicial	ADJ
cblr-12479	564	29	review	review	NOUN
cblr-12479	564	30	not	not	PART
cblr-12479	564	31	only	only	ADV
cblr-12479	564	32	prevents	prevent	VERB
cblr-12479	564	33	reduction	reduction	NOUN
cblr-12479	564	34	of	of	ADP
cblr-12479	564	35	transaction	transaction	NOUN
cblr-12479	564	36	costs	cost	NOUN
cblr-12479	564	37	,	,	PUNCT
cblr-12479	564	38	but	but	CCONJ
cblr-12479	564	39	can	can	AUX
cblr-12479	564	40	also	also	ADV
cblr-12479	564	41	erode	erode	VERB
cblr-12479	564	42	trust	trust	NOUN
cblr-12479	564	43	in	in	ADP
cblr-12479	564	44	startup	startup	NOUN
cblr-12479	564	45	and	and	CCONJ
cblr-12479	564	46	vc	vc	PROPN
cblr-12479	564	47	ecosystems	ecosystem	NOUN
cblr-12479	564	48	,	,	PUNCT
cblr-12479	564	49	which	which	PRON
cblr-12479	564	50	are	be	AUX
cblr-12479	564	51	increasingly	increasingly	ADV
cblr-12479	564	52	perceived	perceive	VERB
cblr-12479	564	53	as	as	ADP
cblr-12479	564	54	unaccountable	unaccountable	ADJ
cblr-12479	564	55	,	,	PUNCT
cblr-12479	564	56	given	give	VERB
cblr-12479	564	57	the	the	DET
cblr-12479	564	58	shadow	shadow	NOUN
cblr-12479	564	59	governance	governance	NOUN
cblr-12479	564	60	and	and	CCONJ
cblr-12479	564	61	financial	financial	ADJ
cblr-12479	564	62	practices	practice	NOUN
cblr-12479	564	63	to	to	PART
cblr-12479	564	64	which	which	PRON
cblr-12479	564	65	they	they	PRON
cblr-12479	564	66	are	be	AUX
cblr-12479	564	67	associated.170	associated.170	PROPN
cblr-12479	564	68	d.	d.	PROPN
cblr-12479	564	69	summary	summary	PROPN
cblr-12479	564	70	unlike	unlike	ADP
cblr-12479	564	71	charters	charter	NOUN
cblr-12479	564	72	,	,	PUNCT
cblr-12479	565	1	bylaws	bylaw	NOUN
cblr-12479	565	2	,	,	PUNCT
cblr-12479	565	3	and	and	CCONJ
cblr-12479	565	4	articles	article	NOUN
cblr-12479	565	5	of	of	ADP
cblr-12479	565	6	incorporation	incorporation	NOUN
cblr-12479	565	7	,	,	PUNCT
cblr-12479	565	8	agreements	agreement	NOUN
cblr-12479	565	9	among	among	ADP
cblr-12479	565	10	shareholders	shareholder	NOUN
cblr-12479	565	11	of	of	ADP
cblr-12479	565	12	non	non	ADJ
cblr-12479	565	13	-	-	ADJ
cblr-12479	565	14	listed	listed	ADJ
cblr-12479	565	15	corporations	corporation	NOUN
cblr-12479	565	16	generally	generally	ADV
cblr-12479	565	17	do	do	AUX
cblr-12479	565	18	not	not	PART
cblr-12479	565	19	have	have	VERB
cblr-12479	565	20	to	to	PART
cblr-12479	565	21	be	be	AUX
cblr-12479	565	22	disclosed	disclose	VERB
cblr-12479	565	23	or	or	CCONJ
cblr-12479	565	24	registered	register	VERB
cblr-12479	565	25	and	and	CCONJ
cblr-12479	565	26	are	be	AUX
cblr-12479	565	27	seldom	seldom	ADV
cblr-12479	565	28	litigated	litigate	VERB
cblr-12479	565	29	.	.	PUNCT
cblr-12479	566	1	this	this	DET
cblr-12479	566	2	opacity	opacity	NOUN
cblr-12479	566	3	frustrates	frustrate	VERB
cblr-12479	566	4	contractual	contractual	ADJ
cblr-12479	566	5	,	,	PUNCT
cblr-12479	566	6	judicial	judicial	ADJ
cblr-12479	566	7	,	,	PUNCT
cblr-12479	566	8	and	and	CCONJ
cblr-12479	566	9	legal	legal	ADJ
cblr-12479	566	10	innovation	innovation	NOUN
cblr-12479	566	11	.	.	PUNCT
cblr-12479	567	1	the	the	DET
cblr-12479	567	2	growing	grow	VERB
cblr-12479	567	3	tendency	tendency	NOUN
cblr-12479	567	4	to	to	PART
cblr-12479	567	5	use	use	VERB
cblr-12479	567	6	these	these	DET
cblr-12479	567	7	agreements	agreement	NOUN
cblr-12479	567	8	as	as	ADP
cblr-12479	567	9	substitutes	substitute	NOUN
cblr-12479	567	10	for	for	ADP
cblr-12479	567	11	corporate	corporate	ADJ
cblr-12479	567	12	law	law	NOUN
cblr-12479	567	13	instruments	instrument	NOUN
cblr-12479	567	14	also	also	ADV
cblr-12479	567	15	hinders	hinder	VERB
cblr-12479	567	16	transaction	transaction	NOUN
cblr-12479	567	17	costs	cost	VERB
cblr-12479	567	18	reductions	reduction	NOUN
cblr-12479	567	19	that	that	PRON
cblr-12479	567	20	would	would	AUX
cblr-12479	567	21	normally	normally	ADV
cblr-12479	567	22	emerge	emerge	VERB
cblr-12479	567	23	from	from	ADP
cblr-12479	567	24	standardization	standardization	NOUN
cblr-12479	567	25	.	.	PUNCT
cblr-12479	568	1	additionally	additionally	ADV
cblr-12479	568	2	,	,	PUNCT
cblr-12479	568	3	it	it	PRON
cblr-12479	568	4	deteriorates	deteriorate	VERB
cblr-12479	568	5	the	the	DET
cblr-12479	568	6	efficacy	efficacy	NOUN
cblr-12479	568	7	of	of	ADP
cblr-12479	568	8	legal	legal	ADJ
cblr-12479	568	9	safeguards	safeguard	NOUN
cblr-12479	568	10	against	against	ADP
cblr-12479	568	11	agency	agency	NOUN
cblr-12479	568	12	problems	problem	NOUN
cblr-12479	568	13	,	,	PUNCT
cblr-12479	568	14	which	which	PRON
cblr-12479	568	15	would	would	AUX
cblr-12479	568	16	be	be	AUX
cblr-12479	568	17	particularly	particularly	ADV
cblr-12479	568	18	damaging	damaging	ADJ
cblr-12479	568	19	for	for	ADP
cblr-12479	568	20	the	the	DET
cblr-12479	568	21	vc	vc	PROPN
cblr-12479	568	22	industry	industry	NOUN
cblr-12479	568	23	.	.	PUNCT
cblr-12479	569	1	vi	vi	X
cblr-12479	569	2	.	.	NOUN
cblr-12479	569	3	implications	implication	VERB
cblr-12479	569	4	the	the	DET
cblr-12479	569	5	preceding	precede	VERB
cblr-12479	569	6	analyses	analysis	NOUN
cblr-12479	569	7	show	show	VERB
cblr-12479	569	8	that	that	SCONJ
cblr-12479	569	9	legal	legal	ADJ
cblr-12479	569	10	restrictions	restriction	NOUN
cblr-12479	569	11	to	to	ADP
cblr-12479	569	12	structuring	structure	VERB
cblr-12479	569	13	contingent	contingent	ADJ
cblr-12479	569	14	control	control	NOUN
cblr-12479	569	15	are	be	AUX
cblr-12479	569	16	more	more	ADV
cblr-12479	569	17	common	common	ADJ
cblr-12479	569	18	than	than	SCONJ
cblr-12479	569	19	assumed	assume	VERB
cblr-12479	569	20	,	,	PUNCT
cblr-12479	569	21	which	which	PRON
cblr-12479	569	22	has	have	VERB
cblr-12479	569	23	implications	implication	NOUN
cblr-12479	569	24	for	for	ADP
cblr-12479	569	25	theoretical	theoretical	ADJ
cblr-12479	569	26	and	and	CCONJ
cblr-12479	569	27	empirical	empirical	ADJ
cblr-12479	569	28	studies	study	NOUN
cblr-12479	569	29	in	in	ADP
cblr-12479	569	30	financial	financial	ADJ
cblr-12479	569	31	contracting	contracting	NOUN
cblr-12479	569	32	,	,	PUNCT
cblr-12479	569	33	and	and	CCONJ
cblr-12479	569	34	corporate	corporate	ADJ
cblr-12479	569	35	law	law	NOUN
cblr-12479	569	36	design	design	NOUN
cblr-12479	569	37	.	.	PUNCT
cblr-12479	570	1	a.	a.	NOUN
cblr-12479	570	2	financial	financial	ADJ
cblr-12479	570	3	contracting	contracting	NOUN
cblr-12479	570	4	there	there	PRON
cblr-12479	570	5	are	be	VERB
cblr-12479	570	6	two	two	NUM
cblr-12479	570	7	main	main	ADJ
cblr-12479	570	8	implications	implication	NOUN
cblr-12479	570	9	for	for	ADP
cblr-12479	570	10	financial	financial	ADJ
cblr-12479	570	11	contracting	contracting	NOUN
cblr-12479	570	12	.	.	PUNCT
cblr-12479	571	1	first	first	ADV
cblr-12479	571	2	,	,	PUNCT
cblr-12479	571	3	the	the	DET
cblr-12479	571	4	identified	identify	VERB
cblr-12479	571	5	legal	legal	ADJ
cblr-12479	571	6	boundaries	boundary	NOUN
cblr-12479	571	7	to	to	PART
cblr-12479	571	8	structure	structure	VERB
cblr-12479	571	9	contingent	contingent	NOUN
cblr-12479	571	10	control	control	NOUN
cblr-12479	571	11	across	across	ADP
cblr-12479	571	12	jurisdictions	jurisdiction	NOUN
cblr-12479	571	13	may	may	AUX
cblr-12479	571	14	assist	assist	VERB
cblr-12479	571	15	the	the	DET
cblr-12479	571	16	development	development	NOUN
cblr-12479	571	17	of	of	ADP
cblr-12479	571	18	169	169	NUM
cblr-12479	571	19	see	see	NOUN
cblr-12479	571	20	madelon	madelon	PROPN
cblr-12479	571	21	&	&	CCONJ
cblr-12479	571	22	thomsen	thomsen	PROPN
cblr-12479	571	23	,	,	PUNCT
cblr-12479	571	24	supra	supra	PROPN
cblr-12479	571	25	note	note	PROPN
cblr-12479	571	26	142	142	NUM
cblr-12479	571	27	,	,	PUNCT
cblr-12479	571	28	at	at	ADP
cblr-12479	571	29	253–292	253–292	NUM
cblr-12479	571	30	.	.	PUNCT
cblr-12479	572	1	170	170	NUM
cblr-12479	572	2	see	see	VERB
cblr-12479	572	3	alexander	alexander	PROPN
cblr-12479	572	4	i	i	PROPN
cblr-12479	572	5	platt	platt	PROPN
cblr-12479	572	6	,	,	PUNCT
cblr-12479	572	7	unicorniphobia	unicorniphobia	PROPN
cblr-12479	572	8	,	,	PUNCT
cblr-12479	572	9	13	13	NUM
cblr-12479	572	10	harv	harv	NOUN
cblr-12479	572	11	.	.	PUNCT
cblr-12479	573	1	bus	bus	NOUN
cblr-12479	573	2	.	.	PUNCT
cblr-12479	574	1	l.	l.	PROPN
cblr-12479	574	2	rev	rev	PROPN
cblr-12479	574	3	.	.	PROPN
cblr-12479	574	4	115	115	NUM
cblr-12479	574	5	(	(	PUNCT
cblr-12479	574	6	2022	2022	NUM
cblr-12479	574	7	)	)	PUNCT
cblr-12479	574	8	;	;	PUNCT
cblr-12479	574	9	amy	amy	PROPN
cblr-12479	574	10	deen	deen	PROPN
cblr-12479	574	11	westbrook	westbrook	PROPN
cblr-12479	574	12	,	,	PUNCT
cblr-12479	574	13	we(‘re	we(‘re	PROPN
cblr-12479	574	14	)	)	PUNCT
cblr-12479	574	15	working	work	VERB
cblr-12479	574	16	on	on	ADP
cblr-12479	574	17	corporate	corporate	ADJ
cblr-12479	574	18	governance	governance	NOUN
cblr-12479	574	19	:	:	PUNCT
cblr-12479	574	20	stakeholder	stakeholder	NOUN
cblr-12479	574	21	vulnerability	vulnerability	NOUN
cblr-12479	574	22	in	in	ADP
cblr-12479	574	23	unicorn	unicorn	ADJ
cblr-12479	574	24	companies	company	NOUN
cblr-12479	574	25	,	,	PUNCT
cblr-12479	574	26	23	23	NUM
cblr-12479	574	27	u.	u.	PROPN
cblr-12479	574	28	pa	pa	PROPN
cblr-12479	574	29	.	.	PUNCT
cblr-12479	575	1	j.	j.	PROPN
cblr-12479	575	2	bus	bus	PROPN
cblr-12479	575	3	.	.	PUNCT
cblr-12479	576	1	l.	l.	PROPN
cblr-12479	576	2	505	505	NUM
cblr-12479	576	3	(	(	PUNCT
cblr-12479	576	4	2020	2020	NUM
cblr-12479	576	5	)	)	PUNCT
cblr-12479	576	6	;	;	PUNCT
cblr-12479	576	7	renee	renee	PROPN
cblr-12479	576	8	m.	m.	PROPN
cblr-12479	576	9	jones	jones	PROPN
cblr-12479	576	10	,	,	PUNCT
cblr-12479	576	11	the	the	DET
cblr-12479	576	12	unicorn	unicorn	ADJ
cblr-12479	576	13	governance	governance	NOUN
cblr-12479	576	14	trap	trap	NOUN
cblr-12479	576	15	,	,	PUNCT
cblr-12479	576	16	166	166	NUM
cblr-12479	576	17	u.	u.	PROPN
cblr-12479	576	18	pa	pa	PROPN
cblr-12479	576	19	.	.	PUNCT
cblr-12479	576	20	l.	l.	PROPN
cblr-12479	576	21	rev	rev	PROPN
cblr-12479	576	22	.	.	PROPN
cblr-12479	577	1	online	online	PROPN
cblr-12479	577	2	165	165	NUM
cblr-12479	577	3	(	(	PUNCT
cblr-12479	577	4	2017	2017	NUM
cblr-12479	577	5	)	)	PUNCT
cblr-12479	577	6	.	.	PUNCT
cblr-12479	578	1	720	720	NUM
cblr-12479	578	2	columbia	columbia	PROPN
cblr-12479	578	3	business	business	NOUN
cblr-12479	578	4	law	law	PROPN
cblr-12479	578	5	review	review	NOUN
cblr-12479	578	6	[	[	X
cblr-12479	578	7	vol	vol	NOUN
cblr-12479	578	8	.	.	PUNCT
cblr-12479	578	9	2023	2023	NUM
cblr-12479	578	10	financial	financial	ADJ
cblr-12479	578	11	contracting	contracting	NOUN
cblr-12479	578	12	models	model	NOUN
cblr-12479	578	13	that	that	PRON
cblr-12479	578	14	more	more	ADV
cblr-12479	578	15	accurately	accurately	ADV
cblr-12479	578	16	estimate	estimate	VERB
cblr-12479	578	17	the	the	DET
cblr-12479	578	18	range	range	NOUN
cblr-12479	578	19	of	of	ADP
cblr-12479	578	20	agreements	agreement	NOUN
cblr-12479	578	21	available	available	ADJ
cblr-12479	578	22	in	in	ADP
cblr-12479	578	23	real	real	ADJ
cblr-12479	578	24	life	life	NOUN
cblr-12479	578	25	and	and	CCONJ
cblr-12479	578	26	the	the	DET
cblr-12479	578	27	tradeoffs	tradeoff	NOUN
cblr-12479	578	28	of	of	ADP
cblr-12479	578	29	alternative	alternative	ADJ
cblr-12479	578	30	legal	legal	ADJ
cblr-12479	578	31	frameworks	framework	NOUN
cblr-12479	578	32	.	.	PUNCT
cblr-12479	579	1	second	second	ADJ
cblr-12479	579	2	,	,	PUNCT
cblr-12479	579	3	domestic	domestic	ADJ
cblr-12479	579	4	and	and	CCONJ
cblr-12479	579	5	international	international	ADJ
cblr-12479	579	6	empirical	empirical	ADJ
cblr-12479	579	7	evidence	evidence	NOUN
cblr-12479	579	8	should	should	AUX
cblr-12479	579	9	be	be	AUX
cblr-12479	579	10	accounted	account	VERB
cblr-12479	579	11	with	with	ADP
cblr-12479	579	12	skepticism	skepticism	NOUN
cblr-12479	579	13	,	,	PUNCT
cblr-12479	579	14	given	give	VERB
cblr-12479	579	15	that	that	SCONJ
cblr-12479	579	16	most	most	ADJ
cblr-12479	579	17	studies	study	NOUN
cblr-12479	579	18	do	do	AUX
cblr-12479	579	19	not	not	PART
cblr-12479	579	20	distinguish	distinguish	VERB
cblr-12479	579	21	the	the	DET
cblr-12479	579	22	legal	legal	ADJ
cblr-12479	579	23	instruments	instrument	NOUN
cblr-12479	579	24	used	use	VERB
cblr-12479	579	25	to	to	PART
cblr-12479	579	26	distribute	distribute	VERB
cblr-12479	579	27	control	control	NOUN
cblr-12479	579	28	,	,	PUNCT
cblr-12479	579	29	whether	whether	SCONJ
cblr-12479	579	30	commitments	commitment	NOUN
cblr-12479	579	31	are	be	AUX
cblr-12479	579	32	enforceable	enforceable	ADJ
cblr-12479	579	33	,	,	PUNCT
cblr-12479	579	34	the	the	DET
cblr-12479	579	35	consequences	consequence	NOUN
cblr-12479	579	36	of	of	ADP
cblr-12479	579	37	breaching	breach	VERB
cblr-12479	579	38	such	such	ADJ
cblr-12479	579	39	commitments	commitment	NOUN
cblr-12479	579	40	,	,	PUNCT
cblr-12479	579	41	and	and	CCONJ
cblr-12479	579	42	how	how	SCONJ
cblr-12479	579	43	such	such	ADJ
cblr-12479	579	44	variations	variation	NOUN
cblr-12479	579	45	affect	affect	VERB
cblr-12479	579	46	incentives	incentive	NOUN
cblr-12479	579	47	.	.	PUNCT
cblr-12479	580	1	1	1	X
cblr-12479	580	2	.	.	X
cblr-12479	580	3	theory	theory	NOUN
cblr-12479	580	4	control	control	NOUN
cblr-12479	580	5	theories	theory	NOUN
cblr-12479	580	6	fundamentally	fundamentally	ADV
cblr-12479	580	7	assert	assert	VERB
cblr-12479	580	8	that	that	SCONJ
cblr-12479	580	9	parties	party	NOUN
cblr-12479	580	10	in	in	ADP
cblr-12479	580	11	financial	financial	ADJ
cblr-12479	580	12	agreements	agreement	NOUN
cblr-12479	580	13	allocate	allocate	VERB
cblr-12479	580	14	board	board	NOUN
cblr-12479	580	15	representation	representation	NOUN
cblr-12479	580	16	and	and	CCONJ
cblr-12479	580	17	voting	voting	NOUN
cblr-12479	580	18	rights	right	NOUN
cblr-12479	580	19	ex	ex	X
cblr-12479	580	20	ante	ante	NOUN
cblr-12479	580	21	,	,	PUNCT
cblr-12479	580	22	as	as	ADP
cblr-12479	580	23	a	a	DET
cblr-12479	580	24	means	means	NOUN
cblr-12479	580	25	to	to	PART
cblr-12479	580	26	solve	solve	VERB
cblr-12479	580	27	incomplete	incomplete	ADJ
cblr-12479	580	28	contract	contract	NOUN
cblr-12479	580	29	problems	problem	NOUN
cblr-12479	580	30	(	(	PUNCT
cblr-12479	580	31	i.e.	i.e.	X
cblr-12479	580	32	,	,	PUNCT
cblr-12479	580	33	contingencies	contingency	NOUN
cblr-12479	580	34	that	that	PRON
cblr-12479	580	35	are	be	AUX
cblr-12479	580	36	difficult	difficult	ADJ
cblr-12479	580	37	to	to	PART
cblr-12479	580	38	anticipate	anticipate	VERB
cblr-12479	580	39	)	)	PUNCT
cblr-12479	580	40	,	,	PUNCT
cblr-12479	580	41	enabling	enable	VERB
cblr-12479	580	42	the	the	DET
cblr-12479	580	43	creation	creation	NOUN
cblr-12479	580	44	of	of	ADP
cblr-12479	580	45	otherwise	otherwise	ADV
cblr-12479	580	46	unfeasible	unfeasible	ADJ
cblr-12479	580	47	financial	financial	ADJ
cblr-12479	580	48	agreements.171	agreements.171	VERB
cblr-12479	580	49	in	in	ADP
cblr-12479	580	50	vc	vc	PROPN
cblr-12479	580	51	finance	finance	NOUN
cblr-12479	580	52	,	,	PUNCT
cblr-12479	580	53	this	this	PRON
cblr-12479	580	54	is	be	AUX
cblr-12479	580	55	especially	especially	ADV
cblr-12479	580	56	important	important	ADJ
cblr-12479	580	57	,	,	PUNCT
cblr-12479	580	58	given	give	VERB
cblr-12479	580	59	high	high	ADJ
cblr-12479	580	60	uncertainties.172	uncertainties.172	NOUN
cblr-12479	580	61	the	the	DET
cblr-12479	580	62	analyses	analysis	NOUN
cblr-12479	580	63	above	above	ADV
cblr-12479	580	64	show	show	VERB
cblr-12479	580	65	that	that	SCONJ
cblr-12479	580	66	the	the	DET
cblr-12479	580	67	range	range	NOUN
cblr-12479	580	68	of	of	ADP
cblr-12479	580	69	agreements	agreement	NOUN
cblr-12479	580	70	on	on	ADP
cblr-12479	580	71	control	control	NOUN
cblr-12479	580	72	allocation	allocation	NOUN
cblr-12479	580	73	has	have	VERB
cblr-12479	580	74	three	three	NUM
cblr-12479	580	75	concrete	concrete	ADJ
cblr-12479	580	76	limitations	limitation	NOUN
cblr-12479	580	77	across	across	ADP
cblr-12479	580	78	jurisdictions	jurisdiction	NOUN
cblr-12479	580	79	,	,	PUNCT
cblr-12479	580	80	which	which	PRON
cblr-12479	580	81	the	the	DET
cblr-12479	580	82	literature	literature	NOUN
cblr-12479	580	83	has	have	VERB
cblr-12479	580	84	yet	yet	ADV
cblr-12479	580	85	to	to	PART
cblr-12479	580	86	account	account	VERB
cblr-12479	580	87	.	.	PUNCT
cblr-12479	581	1	first	first	ADV
cblr-12479	581	2	,	,	PUNCT
cblr-12479	581	3	control	control	VERB
cblr-12479	581	4	through	through	ADP
cblr-12479	581	5	direct	direct	ADJ
cblr-12479	581	6	board	board	NOUN
cblr-12479	581	7	representation	representation	NOUN
cblr-12479	581	8	is	be	AUX
cblr-12479	581	9	illusory.173	illusory.173	PROPN
cblr-12479	581	10	class	class	NOUN
cblr-12479	581	11	-	-	PUNCT
cblr-12479	581	12	based	base	VERB
cblr-12479	581	13	election	election	NOUN
cblr-12479	581	14	of	of	ADP
cblr-12479	581	15	directors	director	NOUN
cblr-12479	581	16	remains	remain	VERB
cblr-12479	581	17	exceptional	exceptional	ADJ
cblr-12479	581	18	,	,	PUNCT
cblr-12479	581	19	and	and	CCONJ
cblr-12479	581	20	boards	board	NOUN
cblr-12479	581	21	have	have	VERB
cblr-12479	581	22	duties	duty	NOUN
cblr-12479	581	23	to	to	ADP
cblr-12479	581	24	all	all	DET
cblr-12479	581	25	shareholders.174	shareholders.174	PROPN
cblr-12479	581	26	even	even	ADV
cblr-12479	581	27	in	in	ADP
cblr-12479	581	28	jurisdictions	jurisdiction	NOUN
cblr-12479	581	29	where	where	SCONJ
cblr-12479	581	30	class	class	NOUN
cblr-12479	581	31	-	-	PUNCT
cblr-12479	581	32	based	base	VERB
cblr-12479	581	33	board	board	NOUN
cblr-12479	581	34	representation	representation	NOUN
cblr-12479	581	35	is	be	AUX
cblr-12479	581	36	warranted	warrant	VERB
cblr-12479	581	37	,	,	PUNCT
cblr-12479	581	38	constituency	constituency	NOUN
cblr-12479	581	39	directors	director	NOUN
cblr-12479	581	40	’	'	PUNCT
cblr-12479	581	41	ability	ability	NOUN
cblr-12479	581	42	to	to	PART
cblr-12479	581	43	exercise	exercise	VERB
cblr-12479	581	44	control	control	NOUN
cblr-12479	581	45	on	on	ADP
cblr-12479	581	46	behalf	behalf	NOUN
cblr-12479	581	47	of	of	ADP
cblr-12479	581	48	their	their	PRON
cblr-12479	581	49	electors	elector	NOUN
cblr-12479	581	50	is	be	AUX
cblr-12479	581	51	constrained	constrain	VERB
cblr-12479	581	52	by	by	ADP
cblr-12479	581	53	the	the	DET
cblr-12479	581	54	threat	threat	NOUN
cblr-12479	581	55	of	of	ADP
cblr-12479	581	56	litigation	litigation	NOUN
cblr-12479	581	57	for	for	ADP
cblr-12479	581	58	breach	breach	NOUN
cblr-12479	581	59	of	of	ADP
cblr-12479	581	60	their	their	PRON
cblr-12479	581	61	duties	duty	NOUN
cblr-12479	581	62	to	to	ADP
cblr-12479	581	63	all	all	DET
cblr-12479	581	64	shareholders	shareholder	NOUN
cblr-12479	581	65	,	,	PUNCT
cblr-12479	581	66	especially	especially	ADV
cblr-12479	581	67	when	when	SCONJ
cblr-12479	581	68	it	it	PRON
cblr-12479	581	69	matters	matter	VERB
cblr-12479	581	70	the	the	DET
cblr-12479	581	71	most	most	ADV
cblr-12479	581	72	(	(	PUNCT
cblr-12479	581	73	e.g.	e.g.	ADV
cblr-12479	581	74	,	,	PUNCT
cblr-12479	581	75	exits).175	exits).175	PROPN
cblr-12479	581	76	second	second	ADJ
cblr-12479	581	77	,	,	PUNCT
cblr-12479	581	78	enhancing	enhance	VERB
cblr-12479	581	79	and	and	CCONJ
cblr-12479	581	80	restricting	restrict	VERB
cblr-12479	581	81	shareholders	shareholder	NOUN
cblr-12479	581	82	’	'	PUNCT
cblr-12479	581	83	voting	voting	NOUN
cblr-12479	581	84	rights	right	NOUN
cblr-12479	581	85	is	be	AUX
cblr-12479	581	86	subject	subject	ADJ
cblr-12479	581	87	to	to	ADP
cblr-12479	581	88	legal	legal	ADJ
cblr-12479	581	89	requirements	requirement	NOUN
cblr-12479	581	90	and	and	CCONJ
cblr-12479	581	91	temporal	temporal	ADJ
cblr-12479	581	92	limitations	limitation	NOUN
cblr-12479	581	93	that	that	PRON
cblr-12479	581	94	hinder	hinder	VERB
cblr-12479	581	95	the	the	DET
cblr-12479	581	96	use	use	NOUN
cblr-12479	581	97	of	of	ADP
cblr-12479	581	98	voting	voting	NOUN
cblr-12479	581	99	as	as	ADP
cblr-12479	581	100	a	a	DET
cblr-12479	581	101	means	means	NOUN
cblr-12479	581	102	to	to	PART
cblr-12479	581	103	solve	solve	VERB
cblr-12479	581	104	incomplete	incomplete	ADJ
cblr-12479	581	105	contract	contract	NOUN
cblr-12479	581	106	problems.176	problems.176	NOUN
cblr-12479	581	107	deviation	deviation	NOUN
cblr-12479	581	108	from	from	ADP
cblr-12479	581	109	one	one	NUM
cblr-12479	581	110	-	-	PUNCT
cblr-12479	581	111	share	share	NOUN
cblr-12479	581	112	171	171	NUM
cblr-12479	581	113	see	see	NOUN
cblr-12479	581	114	hart	hart	PROPN
cblr-12479	581	115	,	,	PUNCT
cblr-12479	581	116	supra	supra	PROPN
cblr-12479	581	117	note	note	VERB
cblr-12479	581	118	33	33	NUM
cblr-12479	581	119	.	.	PUNCT
cblr-12479	582	1	172	172	NUM
cblr-12479	582	2	see	see	VERB
cblr-12479	582	3	hellmann	hellmann	PROPN
cblr-12479	582	4	,	,	PUNCT
cblr-12479	582	5	supra	supra	PROPN
cblr-12479	582	6	note	note	PROPN
cblr-12479	582	7	11	11	NUM
cblr-12479	582	8	.	.	X
cblr-12479	582	9	173	173	NUM
cblr-12479	582	10	see	see	VERB
cblr-12479	582	11	supra	supra	PROPN
cblr-12479	582	12	section	section	PROPN
cblr-12479	582	13	iii.b.1	iii.b.1	PROPN
cblr-12479	582	14	.	.	PUNCT
cblr-12479	582	15	174	174	NUM
cblr-12479	582	16	see	see	VERB
cblr-12479	582	17	supra	supra	PROPN
cblr-12479	582	18	section	section	PROPN
cblr-12479	582	19	iii.b.2	iii.b.2	PROPN
cblr-12479	582	20	.	.	PUNCT
cblr-12479	582	21	175	175	NUM
cblr-12479	582	22	bratton	bratton	PROPN
cblr-12479	582	23	and	and	CCONJ
cblr-12479	582	24	wachter	wachter	NOUN
cblr-12479	582	25	,	,	PUNCT
cblr-12479	582	26	supra	supra	PROPN
cblr-12479	582	27	note	note	NOUN
cblr-12479	582	28	91	91	NUM
cblr-12479	582	29	,	,	PUNCT
cblr-12479	582	30	at	at	ADP
cblr-12479	582	31	1815	1815	NUM
cblr-12479	582	32	.	.	PUNCT
cblr-12479	583	1	176	176	NUM
cblr-12479	583	2	see	see	VERB
cblr-12479	583	3	supra	supra	PROPN
cblr-12479	583	4	sections	section	NOUN
cblr-12479	583	5	iii.b	iii.b	PRON
cblr-12479	583	6	,	,	PUNCT
cblr-12479	583	7	iv.a	iv.a	X
cblr-12479	583	8	,	,	PUNCT
cblr-12479	583	9	and	and	CCONJ
cblr-12479	583	10	iv.b	iv.b	NOUN
cblr-12479	583	11	.	.	PUNCT
cblr-12479	584	1	no	no	INTJ
cblr-12479	584	2	.	.	NOUN
cblr-12479	585	1	2	2	NUM
cblr-12479	585	2	]	]	PUNCT
cblr-12479	585	3	the	the	DET
cblr-12479	585	4	law	law	NOUN
cblr-12479	585	5	of	of	ADP
cblr-12479	585	6	contingent	contingent	NOUN
cblr-12479	585	7	control	control	VERB
cblr-12479	585	8	721	721	NUM
cblr-12479	585	9	one	one	NUM
cblr-12479	585	10	-	-	PUNCT
cblr-12479	585	11	vote	vote	NOUN
cblr-12479	585	12	is	be	AUX
cblr-12479	585	13	still	still	ADV
cblr-12479	585	14	exceptional	exceptional	ADJ
cblr-12479	585	15	,	,	PUNCT
cblr-12479	585	16	and	and	CCONJ
cblr-12479	585	17	many	many	ADJ
cblr-12479	585	18	jurisdictions	jurisdiction	NOUN
cblr-12479	585	19	that	that	PRON
cblr-12479	585	20	allow	allow	VERB
cblr-12479	585	21	changes	change	NOUN
cblr-12479	585	22	in	in	ADP
cblr-12479	585	23	voting	vote	VERB
cblr-12479	585	24	rights	right	NOUN
cblr-12479	585	25	impose	impose	VERB
cblr-12479	585	26	limits	limit	NOUN
cblr-12479	585	27	on	on	ADP
cblr-12479	585	28	the	the	DET
cblr-12479	585	29	number	number	NOUN
cblr-12479	585	30	of	of	ADP
cblr-12479	585	31	votes	vote	NOUN
cblr-12479	585	32	that	that	PRON
cblr-12479	585	33	can	can	AUX
cblr-12479	585	34	be	be	AUX
cblr-12479	585	35	assigned	assign	VERB
cblr-12479	585	36	to	to	ADP
cblr-12479	585	37	specific	specific	ADJ
cblr-12479	585	38	shares	share	NOUN
cblr-12479	585	39	,	,	PUNCT
cblr-12479	585	40	especially	especially	ADV
cblr-12479	585	41	to	to	ADP
cblr-12479	585	42	those	those	PRON
cblr-12479	585	43	with	with	ADP
cblr-12479	585	44	enhanced	enhanced	ADJ
cblr-12479	585	45	cash	cash	NOUN
cblr-12479	585	46	flow	flow	NOUN
cblr-12479	585	47	rights.177	rights.177	PROPN
cblr-12479	585	48	thus	thus	ADV
cblr-12479	585	49	,	,	PUNCT
cblr-12479	585	50	bargains	bargain	NOUN
cblr-12479	585	51	over	over	ADP
cblr-12479	585	52	voting	voting	NOUN
cblr-12479	585	53	rights	right	NOUN
cblr-12479	585	54	are	be	AUX
cblr-12479	585	55	significantly	significantly	ADV
cblr-12479	585	56	constrained	constrain	VERB
cblr-12479	585	57	.	.	PUNCT
cblr-12479	586	1	third	third	ADJ
cblr-12479	586	2	,	,	PUNCT
cblr-12479	586	3	conditioning	condition	VERB
cblr-12479	586	4	the	the	DET
cblr-12479	586	5	allocation	allocation	NOUN
cblr-12479	586	6	and	and	CCONJ
cblr-12479	586	7	exercise	exercise	NOUN
cblr-12479	586	8	of	of	ADP
cblr-12479	586	9	board	board	NOUN
cblr-12479	586	10	and	and	CCONJ
cblr-12479	586	11	voting	voting	NOUN
cblr-12479	586	12	rights	right	NOUN
cblr-12479	586	13	to	to	ADP
cblr-12479	586	14	identifiable	identifiable	ADJ
cblr-12479	586	15	events	event	NOUN
cblr-12479	586	16	is	be	AUX
cblr-12479	586	17	also	also	ADV
cblr-12479	586	18	hindered	hinder	VERB
cblr-12479	586	19	by	by	ADP
cblr-12479	586	20	restrictions	restriction	NOUN
cblr-12479	586	21	to	to	ADP
cblr-12479	586	22	the	the	DET
cblr-12479	586	23	issuance	issuance	NOUN
cblr-12479	586	24	of	of	ADP
cblr-12479	586	25	convertible	convertible	ADJ
cblr-12479	586	26	securities	security	NOUN
cblr-12479	586	27	in	in	ADP
cblr-12479	586	28	numerous	numerous	ADJ
cblr-12479	586	29	jurisdictions.178	jurisdictions.178	ADJ
cblr-12479	586	30	while	while	SCONJ
cblr-12479	586	31	shareholders	shareholder	NOUN
cblr-12479	586	32	’	'	PUNCT
cblr-12479	586	33	agreements	agreement	NOUN
cblr-12479	586	34	may	may	AUX
cblr-12479	586	35	assist	assist	VERB
cblr-12479	586	36	the	the	DET
cblr-12479	586	37	structuring	structuring	NOUN
cblr-12479	586	38	of	of	ADP
cblr-12479	586	39	contingent	contingent	ADJ
cblr-12479	586	40	control	control	NOUN
cblr-12479	586	41	(	(	PUNCT
cblr-12479	586	42	e.g.	e.g.	ADV
cblr-12479	586	43	,	,	PUNCT
cblr-12479	586	44	through	through	ADP
cblr-12479	586	45	veto	veto	NOUN
cblr-12479	586	46	rights	right	NOUN
cblr-12479	586	47	)	)	PUNCT
cblr-12479	586	48	,	,	PUNCT
cblr-12479	586	49	they	they	PRON
cblr-12479	586	50	are	be	AUX
cblr-12479	586	51	imperfect	imperfect	ADJ
cblr-12479	586	52	substitutes	substitute	NOUN
cblr-12479	586	53	,	,	PUNCT
cblr-12479	586	54	given	give	VERB
cblr-12479	586	55	uncertainties	uncertainty	NOUN
cblr-12479	586	56	over	over	ADP
cblr-12479	586	57	the	the	DET
cblr-12479	586	58	enforceability	enforceability	NOUN
cblr-12479	586	59	of	of	ADP
cblr-12479	586	60	certain	certain	ADJ
cblr-12479	586	61	provisions.179	provisions.179	NOUN
cblr-12479	586	62	also	also	ADV
cblr-12479	586	63	,	,	PUNCT
cblr-12479	586	64	contrary	contrary	ADV
cblr-12479	586	65	to	to	ADP
cblr-12479	586	66	corporate	corporate	ADJ
cblr-12479	586	67	law	law	NOUN
cblr-12479	586	68	instruments	instrument	NOUN
cblr-12479	586	69	,	,	PUNCT
cblr-12479	586	70	they	they	PRON
cblr-12479	586	71	do	do	AUX
cblr-12479	586	72	not	not	PART
cblr-12479	586	73	grant	grant	VERB
cblr-12479	586	74	proprietary	proprietary	ADJ
cblr-12479	586	75	rights	right	NOUN
cblr-12479	586	76	and	and	CCONJ
cblr-12479	586	77	obligations	obligation	NOUN
cblr-12479	586	78	,	,	PUNCT
cblr-12479	586	79	but	but	CCONJ
cblr-12479	586	80	contractual	contractual	ADJ
cblr-12479	586	81	ones	one	NOUN
cblr-12479	586	82	,	,	PUNCT
cblr-12479	586	83	breach	breach	NOUN
cblr-12479	586	84	of	of	ADP
cblr-12479	586	85	which	which	PRON
cblr-12479	586	86	generally	generally	ADV
cblr-12479	586	87	entails	entail	VERB
cblr-12479	586	88	damages	damage	NOUN
cblr-12479	586	89	and	and	CCONJ
cblr-12479	586	90	not	not	PART
cblr-12479	586	91	necessarily	necessarily	ADV
cblr-12479	586	92	performance.180	performance.180	VERB
cblr-12479	586	93	indeed	indeed	ADV
cblr-12479	586	94	,	,	PUNCT
cblr-12479	586	95	some	some	DET
cblr-12479	586	96	financial	financial	ADJ
cblr-12479	586	97	contracting	contracting	NOUN
cblr-12479	586	98	theorists	theorist	NOUN
cblr-12479	586	99	concede	concede	VERB
cblr-12479	586	100	that	that	SCONJ
cblr-12479	586	101	potentially	potentially	ADV
cblr-12479	586	102	optimal	optimal	ADJ
cblr-12479	586	103	arrangements	arrangement	NOUN
cblr-12479	586	104	between	between	ADP
cblr-12479	586	105	innovators	innovator	NOUN
cblr-12479	586	106	and	and	CCONJ
cblr-12479	586	107	investors	investor	NOUN
cblr-12479	586	108	may	may	AUX
cblr-12479	586	109	not	not	PART
cblr-12479	586	110	be	be	AUX
cblr-12479	586	111	legal	legal	ADJ
cblr-12479	586	112	or	or	CCONJ
cblr-12479	586	113	enforceable.181	enforceable.181	VERB
cblr-12479	586	114	the	the	DET
cblr-12479	586	115	legal	legal	ADJ
cblr-12479	586	116	limitations	limitation	NOUN
cblr-12479	586	117	to	to	PART
cblr-12479	586	118	control	control	VERB
cblr-12479	586	119	allocation	allocation	NOUN
cblr-12479	586	120	discussed	discuss	VERB
cblr-12479	586	121	above	above	ADV
cblr-12479	586	122	may	may	AUX
cblr-12479	586	123	assist	assist	VERB
cblr-12479	586	124	the	the	DET
cblr-12479	586	125	development	development	NOUN
cblr-12479	586	126	of	of	ADP
cblr-12479	586	127	control	control	NOUN
cblr-12479	586	128	models	model	NOUN
cblr-12479	586	129	of	of	ADP
cblr-12479	586	130	financial	financial	ADJ
cblr-12479	586	131	contracting	contracting	NOUN
cblr-12479	586	132	that	that	PRON
cblr-12479	586	133	more	more	ADV
cblr-12479	586	134	accurately	accurately	ADV
cblr-12479	586	135	estimate	estimate	VERB
cblr-12479	586	136	the	the	DET
cblr-12479	586	137	range	range	NOUN
cblr-12479	586	138	of	of	ADP
cblr-12479	586	139	agreements	agreement	NOUN
cblr-12479	586	140	available	available	ADJ
cblr-12479	586	141	in	in	ADP
cblr-12479	586	142	reality	reality	NOUN
cblr-12479	586	143	,	,	PUNCT
cblr-12479	586	144	which	which	PRON
cblr-12479	586	145	could	could	AUX
cblr-12479	586	146	be	be	AUX
cblr-12479	586	147	useful	useful	ADJ
cblr-12479	586	148	to	to	PART
cblr-12479	586	149	evaluate	evaluate	VERB
cblr-12479	586	150	the	the	DET
cblr-12479	586	151	tradeoffs	tradeoff	NOUN
cblr-12479	586	152	of	of	ADP
cblr-12479	586	153	alternative	alternative	ADJ
cblr-12479	586	154	legal	legal	ADJ
cblr-12479	586	155	frameworks	framework	NOUN
cblr-12479	586	156	.	.	PUNCT
cblr-12479	587	1	2	2	X
cblr-12479	587	2	.	.	X
cblr-12479	587	3	empirical	empirical	ADJ
cblr-12479	587	4	studies	study	NOUN
cblr-12479	587	5	a	a	DET
cblr-12479	587	6	second	second	ADJ
cblr-12479	587	7	implication	implication	NOUN
cblr-12479	587	8	of	of	ADP
cblr-12479	587	9	the	the	DET
cblr-12479	587	10	preceding	precede	VERB
cblr-12479	587	11	analyses	analysis	NOUN
cblr-12479	587	12	relates	relate	VERB
cblr-12479	587	13	to	to	ADP
cblr-12479	587	14	empirical	empirical	ADJ
cblr-12479	587	15	studies	study	NOUN
cblr-12479	587	16	in	in	ADP
cblr-12479	587	17	venture	venture	NOUN
cblr-12479	587	18	finance	finance	NOUN
cblr-12479	587	19	.	.	PUNCT
cblr-12479	588	1	since	since	SCONJ
cblr-12479	588	2	kaplan	kaplan	PROPN
cblr-12479	588	3	and	and	CCONJ
cblr-12479	588	4	per	per	ADP
cblr-12479	588	5	strömberg	strömberg	NOUN
cblr-12479	588	6	’s	’s	PART
cblr-12479	588	7	seminal	seminal	ADJ
cblr-12479	588	8	paper	paper	NOUN
cblr-12479	588	9	,	,	PUNCT
cblr-12479	588	10	a	a	DET
cblr-12479	588	11	common	common	ADJ
cblr-12479	588	12	research	research	NOUN
cblr-12479	588	13	strategy	strategy	NOUN
cblr-12479	588	14	to	to	PART
cblr-12479	588	15	explore	explore	VERB
cblr-12479	588	16	control	control	NOUN
cblr-12479	588	17	allocation	allocation	NOUN
cblr-12479	588	18	’s	’s	PART
cblr-12479	588	19	role	role	NOUN
cblr-12479	588	20	and	and	CCONJ
cblr-12479	588	21	practical	practical	ADJ
cblr-12479	588	22	use	use	NOUN
cblr-12479	588	23	in	in	ADP
cblr-12479	588	24	venture	venture	NOUN
cblr-12479	588	25	finance	finance	NOUN
cblr-12479	588	26	has	have	AUX
cblr-12479	588	27	been	be	AUX
cblr-12479	588	28	to	to	PART
cblr-12479	588	29	collect	collect	VERB
cblr-12479	588	30	financial	financial	ADJ
cblr-12479	588	31	agreements	agreement	NOUN
cblr-12479	588	32	and	and	CCONJ
cblr-12479	588	33	identify	identify	VERB
cblr-12479	588	34	how	how	SCONJ
cblr-12479	588	35	board	board	NOUN
cblr-12479	588	36	and	and	CCONJ
cblr-12479	588	37	voting	voting	NOUN
cblr-12479	588	38	rights	right	NOUN
cblr-12479	588	39	are	be	AUX
cblr-12479	588	40	distributed.182	distributed.182	NOUN
cblr-12479	588	41	yet	yet	ADV
cblr-12479	588	42	,	,	PUNCT
cblr-12479	588	43	as	as	SCONJ
cblr-12479	588	44	kaplan	kaplan	PROPN
cblr-12479	588	45	177	177	NUM
cblr-12479	588	46	see	see	VERB
cblr-12479	588	47	supra	supra	PROPN
cblr-12479	588	48	section	section	PROPN
cblr-12479	588	49	iii.a	iii.a	PROPN
cblr-12479	588	50	.	.	PROPN
cblr-12479	588	51	178	178	NUM
cblr-12479	588	52	see	see	VERB
cblr-12479	588	53	supra	supra	PROPN
cblr-12479	588	54	section	section	PROPN
cblr-12479	588	55	iv.b	iv.b	PROPN
cblr-12479	588	56	.	.	PROPN
cblr-12479	589	1	179	179	NUM
cblr-12479	589	2	see	see	VERB
cblr-12479	589	3	supra	supra	PROPN
cblr-12479	589	4	section	section	NOUN
cblr-12479	589	5	iv.c	iv.c	VERB
cblr-12479	589	6	.	.	PUNCT
cblr-12479	590	1	180	180	NUM
cblr-12479	590	2	see	see	VERB
cblr-12479	590	3	supra	supra	PROPN
cblr-12479	590	4	section	section	NOUN
cblr-12479	590	5	iv.c	iv.c	PROPN
cblr-12479	590	6	.	.	PUNCT
cblr-12479	591	1	181	181	NUM
cblr-12479	591	2	see	see	VERB
cblr-12479	591	3	hart	hart	PROPN
cblr-12479	591	4	,	,	PUNCT
cblr-12479	591	5	supra	supra	PROPN
cblr-12479	591	6	note	note	VERB
cblr-12479	591	7	33	33	NUM
cblr-12479	591	8	.	.	NOUN
cblr-12479	591	9	182	182	NUM
cblr-12479	591	10	see	see	VERB
cblr-12479	591	11	da	da	PROPN
cblr-12479	591	12	rin	rin	PROPN
cblr-12479	591	13	,	,	PUNCT
cblr-12479	591	14	et	et	PROPN
cblr-12479	591	15	al	al	PROPN
cblr-12479	591	16	.	.	PROPN
cblr-12479	592	1	supra	supra	PROPN
cblr-12479	592	2	note	note	PROPN
cblr-12479	592	3	9	9	NUM
cblr-12479	592	4	.	.	SYM
cblr-12479	592	5	722	722	NUM
cblr-12479	592	6	columbia	columbia	PROPN
cblr-12479	592	7	business	business	NOUN
cblr-12479	592	8	law	law	PROPN
cblr-12479	592	9	review	review	NOUN
cblr-12479	592	10	[	[	X
cblr-12479	592	11	vol	vol	NOUN
cblr-12479	592	12	.	.	PUNCT
cblr-12479	592	13	2023	2023	NUM
cblr-12479	592	14	and	and	CCONJ
cblr-12479	592	15	per	per	ADP
cblr-12479	592	16	strömberg	strömberg	NOUN
cblr-12479	592	17	acknowledged	acknowledge	VERB
cblr-12479	592	18	,	,	PUNCT
cblr-12479	592	19	real	real	ADJ
cblr-12479	592	20	-	-	PUNCT
cblr-12479	592	21	life	life	NOUN
cblr-12479	592	22	contracts	contract	NOUN
cblr-12479	592	23	’	'	PUNCT
cblr-12479	592	24	content	content	NOUN
cblr-12479	592	25	is	be	AUX
cblr-12479	593	1	only	only	ADV
cblr-12479	593	2	“	"	PUNCT
cblr-12479	593	3	presumably	presumably	ADV
cblr-12479	593	4	”	"	PUNCT
cblr-12479	593	5	enforceable.183	enforceable.183	CCONJ
cblr-12479	593	6	the	the	DET
cblr-12479	593	7	evidence	evidence	NOUN
cblr-12479	593	8	of	of	ADP
cblr-12479	593	9	legal	legal	ADJ
cblr-12479	593	10	constraints	constraint	NOUN
cblr-12479	593	11	to	to	PART
cblr-12479	593	12	contingent	contingent	VERB
cblr-12479	593	13	control	control	NOUN
cblr-12479	593	14	discussed	discuss	VERB
cblr-12479	593	15	above	above	ADV
cblr-12479	593	16	confirms	confirm	VERB
cblr-12479	593	17	that	that	SCONJ
cblr-12479	593	18	standard	standard	ADJ
cblr-12479	593	19	provisions	provision	NOUN
cblr-12479	593	20	are	be	AUX
cblr-12479	593	21	often	often	ADV
cblr-12479	593	22	unenforceable.184	unenforceable.184	NOUN
cblr-12479	593	23	even	even	ADV
cblr-12479	593	24	when	when	SCONJ
cblr-12479	593	25	they	they	PRON
cblr-12479	593	26	are	be	AUX
cblr-12479	593	27	legally	legally	ADV
cblr-12479	593	28	binding	binding	ADJ
cblr-12479	593	29	,	,	PUNCT
cblr-12479	593	30	enforcement	enforcement	NOUN
cblr-12479	593	31	attempts	attempt	NOUN
cblr-12479	593	32	may	may	AUX
cblr-12479	593	33	lead	lead	VERB
cblr-12479	593	34	to	to	ADP
cblr-12479	593	35	opposite	opposite	ADJ
cblr-12479	593	36	outcomes	outcome	NOUN
cblr-12479	593	37	,	,	PUNCT
cblr-12479	593	38	as	as	ADP
cblr-12479	593	39	in	in	ADP
cblr-12479	593	40	the	the	DET
cblr-12479	593	41	widely	widely	ADV
cblr-12479	593	42	-	-	PUNCT
cblr-12479	593	43	commented	comment	VERB
cblr-12479	593	44	delaware	delaware	PROPN
cblr-12479	593	45	decision	decision	NOUN
cblr-12479	593	46	in	in	ADP
cblr-12479	593	47	re	re	ADP
cblr-12479	593	48	trados.185	trados.185	NOUN
cblr-12479	593	49	this	this	DET
cblr-12479	593	50	analysis	analysis	NOUN
cblr-12479	593	51	highlights	highlight	NOUN
cblr-12479	593	52	the	the	DET
cblr-12479	593	53	need	need	NOUN
cblr-12479	593	54	to	to	PART
cblr-12479	593	55	assess	assess	VERB
cblr-12479	593	56	empirically	empirically	ADV
cblr-12479	593	57	the	the	DET
cblr-12479	593	58	extent	extent	NOUN
cblr-12479	593	59	to	to	PART
cblr-12479	593	60	which	which	PRON
cblr-12479	593	61	prevalent	prevalent	ADJ
cblr-12479	593	62	control	control	NOUN
cblr-12479	593	63	allocations	allocation	NOUN
cblr-12479	593	64	are	be	AUX
cblr-12479	593	65	enforceable	enforceable	ADJ
cblr-12479	593	66	and	and	CCONJ
cblr-12479	593	67	how	how	SCONJ
cblr-12479	593	68	those	those	DET
cblr-12479	593	69	considerations	consideration	NOUN
cblr-12479	593	70	impact	impact	VERB
cblr-12479	593	71	entrepreneur	entrepreneur	NOUN
cblr-12479	593	72	-	-	NOUN
cblr-12479	593	73	investor	investor	NOUN
cblr-12479	593	74	negotiations	negotiation	NOUN
cblr-12479	593	75	,	,	PUNCT
cblr-12479	593	76	the	the	DET
cblr-12479	593	77	legal	legal	ADJ
cblr-12479	593	78	structure	structure	NOUN
cblr-12479	593	79	of	of	ADP
cblr-12479	593	80	the	the	DET
cblr-12479	593	81	agreements	agreement	NOUN
cblr-12479	593	82	(	(	PUNCT
cblr-12479	593	83	e.g.	e.g.	ADV
cblr-12479	593	84	,	,	PUNCT
cblr-12479	593	85	security	security	NOUN
cblr-12479	593	86	design	design	NOUN
cblr-12479	593	87	)	)	PUNCT
cblr-12479	593	88	,	,	PUNCT
cblr-12479	593	89	and	and	CCONJ
cblr-12479	593	90	parties	party	NOUN
cblr-12479	593	91	’	'	PUNCT
cblr-12479	593	92	incentives	incentive	NOUN
cblr-12479	593	93	(	(	PUNCT
cblr-12479	593	94	e.g.	e.g.	ADV
cblr-12479	593	95	,	,	PUNCT
cblr-12479	593	96	entrepreneurs	entrepreneur	NOUN
cblr-12479	593	97	’	'	PUNCT
cblr-12479	593	98	estimation	estimation	NOUN
cblr-12479	593	99	of	of	ADP
cblr-12479	593	100	private	private	ADJ
cblr-12479	593	101	benefits	benefit	NOUN
cblr-12479	593	102	)	)	PUNCT
cblr-12479	593	103	.	.	PUNCT
cblr-12479	594	1	meanwhile	meanwhile	ADV
cblr-12479	594	2	,	,	PUNCT
cblr-12479	594	3	the	the	DET
cblr-12479	594	4	empirical	empirical	ADJ
cblr-12479	594	5	evidence	evidence	NOUN
cblr-12479	594	6	currently	currently	ADV
cblr-12479	594	7	available	available	ADJ
cblr-12479	594	8	should	should	AUX
cblr-12479	594	9	be	be	AUX
cblr-12479	594	10	accounted	account	VERB
cblr-12479	594	11	with	with	ADP
cblr-12479	594	12	caution	caution	NOUN
cblr-12479	594	13	,	,	PUNCT
cblr-12479	594	14	acknowledging	acknowledge	VERB
cblr-12479	594	15	that	that	SCONJ
cblr-12479	594	16	the	the	DET
cblr-12479	594	17	distribution	distribution	NOUN
cblr-12479	594	18	of	of	ADP
cblr-12479	594	19	control	control	NOUN
cblr-12479	594	20	is	be	AUX
cblr-12479	594	21	also	also	ADV
cblr-12479	594	22	influenced	influence	VERB
cblr-12479	594	23	by	by	ADP
cblr-12479	594	24	critical	critical	ADJ
cblr-12479	594	25	and	and	CCONJ
cblr-12479	594	26	dynamic	dynamic	ADJ
cblr-12479	594	27	rules	rule	NOUN
cblr-12479	594	28	of	of	ADP
cblr-12479	594	29	corporate	corporate	ADJ
cblr-12479	594	30	law	law	NOUN
cblr-12479	594	31	,	,	PUNCT
cblr-12479	594	32	and	and	CCONJ
cblr-12479	594	33	enforcement	enforcement	NOUN
cblr-12479	594	34	considerations	consideration	NOUN
cblr-12479	594	35	that	that	PRON
cblr-12479	594	36	remain	remain	VERB
cblr-12479	594	37	in	in	ADP
cblr-12479	594	38	the	the	DET
cblr-12479	594	39	blind	blind	ADJ
cblr-12479	594	40	spot	spot	NOUN
cblr-12479	594	41	of	of	ADP
cblr-12479	594	42	financial	financial	ADJ
cblr-12479	594	43	contracting	contracting	NOUN
cblr-12479	594	44	scholarship	scholarship	NOUN
cblr-12479	594	45	.	.	PUNCT
cblr-12479	595	1	failure	failure	NOUN
cblr-12479	595	2	to	to	PART
cblr-12479	595	3	account	account	VERB
cblr-12479	595	4	for	for	ADP
cblr-12479	595	5	legal	legal	ADJ
cblr-12479	595	6	boundaries	boundary	NOUN
cblr-12479	595	7	and	and	CCONJ
cblr-12479	595	8	to	to	PART
cblr-12479	595	9	distinguish	distinguish	VERB
cblr-12479	595	10	the	the	DET
cblr-12479	595	11	type	type	NOUN
cblr-12479	595	12	of	of	ADP
cblr-12479	595	13	legal	legal	ADJ
cblr-12479	595	14	instruments	instrument	NOUN
cblr-12479	595	15	used	use	VERB
cblr-12479	595	16	in	in	ADP
cblr-12479	595	17	vc	vc	PROPN
cblr-12479	595	18	deals	deal	NOUN
cblr-12479	595	19	could	could	AUX
cblr-12479	595	20	also	also	ADV
cblr-12479	595	21	produce	produce	VERB
cblr-12479	595	22	potentially	potentially	ADV
cblr-12479	595	23	misleading	misleading	ADJ
cblr-12479	595	24	results	result	NOUN
cblr-12479	595	25	.	.	PUNCT
cblr-12479	596	1	for	for	ADP
cblr-12479	596	2	example	example	NOUN
cblr-12479	596	3	,	,	PUNCT
cblr-12479	596	4	defining	define	VERB
cblr-12479	596	5	control	control	NOUN
cblr-12479	596	6	as	as	ADP
cblr-12479	596	7	voting	voting	NOUN
cblr-12479	596	8	and	and	CCONJ
cblr-12479	596	9	board	board	NOUN
cblr-12479	596	10	seats	seat	NOUN
cblr-12479	596	11	,	,	PUNCT
cblr-12479	596	12	wang	wang	PROPN
cblr-12479	596	13	et	et	PROPN
cblr-12479	596	14	al	al	PROPN
cblr-12479	596	15	.	.	PROPN
cblr-12479	596	16	built	build	VERB
cblr-12479	596	17	a	a	DET
cblr-12479	596	18	dataset	dataset	NOUN
cblr-12479	596	19	based	base	VERB
cblr-12479	596	20	on	on	ADP
cblr-12479	596	21	vc	vc	PROPN
cblr-12479	596	22	firms	firm	NOUN
cblr-12479	596	23	’	'	PUNCT
cblr-12479	596	24	surveys	survey	NOUN
cblr-12479	596	25	to	to	PART
cblr-12479	596	26	explore	explore	VERB
cblr-12479	596	27	the	the	DET
cblr-12479	596	28	determinants	determinant	NOUN
cblr-12479	596	29	between	between	ADP
cblr-12479	596	30	shared	share	VERB
cblr-12479	596	31	and	and	CCONJ
cblr-12479	596	32	contingent	contingent	ADJ
cblr-12479	596	33	control	control	NOUN
cblr-12479	596	34	in	in	ADP
cblr-12479	596	35	a	a	DET
cblr-12479	596	36	large	large	ADJ
cblr-12479	596	37	sample	sample	NOUN
cblr-12479	596	38	of	of	ADP
cblr-12479	596	39	86	86	NUM
cblr-12479	596	40	chinese	chinese	ADJ
cblr-12479	596	41	vc	vc	PROPN
cblr-12479	596	42	-	-	PUNCT
cblr-12479	596	43	backed	back	VERB
cblr-12479	596	44	companies.186	companies.186	NOUN
cblr-12479	596	45	despite	despite	SCONJ
cblr-12479	596	46	the	the	DET
cblr-12479	596	47	detailed	detailed	ADJ
cblr-12479	596	48	focus	focus	NOUN
cblr-12479	596	49	on	on	ADP
cblr-12479	596	50	explanatory	explanatory	ADJ
cblr-12479	596	51	variables	variable	NOUN
cblr-12479	596	52	(	(	PUNCT
cblr-12479	596	53	e.g.	e.g.	ADV
cblr-12479	596	54	,	,	PUNCT
cblr-12479	596	55	entrepreneur	entrepreneur	NOUN
cblr-12479	596	56	’s	’s	PART
cblr-12479	596	57	non	non	ADJ
cblr-12479	596	58	-	-	ADJ
cblr-12479	596	59	monetary	monetary	ADJ
cblr-12479	596	60	benefits	benefit	NOUN
cblr-12479	596	61	,	,	PUNCT
cblr-12479	596	62	venture	venture	NOUN
cblr-12479	596	63	capitalist	capitalist	NOUN
cblr-12479	596	64	’s	’s	PART
cblr-12479	596	65	bargaining	bargaining	NOUN
cblr-12479	596	66	power	power	NOUN
cblr-12479	596	67	,	,	PUNCT
cblr-12479	596	68	monitoring	monitor	VERB
cblr-12479	596	69	cost),187	cost),187	NOUN
cblr-12479	596	70	their	their	PRON
cblr-12479	596	71	study	study	NOUN
cblr-12479	596	72	does	do	AUX
cblr-12479	596	73	not	not	PART
cblr-12479	596	74	consider	consider	VERB
cblr-12479	596	75	the	the	DET
cblr-12479	596	76	various	various	ADJ
cblr-12479	596	77	legal	legal	ADJ
cblr-12479	596	78	instruments	instrument	NOUN
cblr-12479	596	79	used	use	VERB
cblr-12479	596	80	in	in	ADP
cblr-12479	596	81	each	each	DET
cblr-12479	596	82	deal	deal	NOUN
cblr-12479	596	83	(	(	PUNCT
cblr-12479	596	84	e.g.	e.g.	ADV
cblr-12479	596	85	,	,	PUNCT
cblr-12479	596	86	deferred	defer	VERB
cblr-12479	596	87	stock	stock	NOUN
cblr-12479	596	88	purchase	purchase	NOUN
cblr-12479	596	89	agreements	agreement	NOUN
cblr-12479	596	90	or	or	CCONJ
cblr-12479	596	91	preferred	preferred	ADJ
cblr-12479	596	92	stock	stock	NOUN
cblr-12479	596	93	)	)	PUNCT
cblr-12479	596	94	.	.	PUNCT
cblr-12479	597	1	this	this	DET
cblr-12479	597	2	decision	decision	NOUN
cblr-12479	597	3	overlooks	overlook	VERB
cblr-12479	597	4	the	the	DET
cblr-12479	597	5	fact	fact	NOUN
cblr-12479	597	6	that	that	SCONJ
cblr-12479	597	7	convertible	convertible	ADJ
cblr-12479	597	8	-	-	PUNCT
cblr-12479	597	9	preferred	prefer	VERB
cblr-12479	597	10	securities	security	NOUN
cblr-12479	597	11	are	be	AUX
cblr-12479	597	12	not	not	PART
cblr-12479	597	13	permitted	permit	VERB
cblr-12479	597	14	183	183	NUM
cblr-12479	597	15	see	see	VERB
cblr-12479	597	16	kaplan	kaplan	PROPN
cblr-12479	597	17	and	and	CCONJ
cblr-12479	597	18	strömberg	strömberg	PROPN
cblr-12479	597	19	,	,	PUNCT
cblr-12479	597	20	supra	supra	PROPN
cblr-12479	597	21	note	note	NOUN
cblr-12479	597	22	12	12	NUM
cblr-12479	597	23	,	,	PUNCT
cblr-12479	597	24	at	at	ADP
cblr-12479	597	25	294	294	NUM
cblr-12479	597	26	.	.	PUNCT
cblr-12479	598	1	184	184	NUM
cblr-12479	598	2	see	see	VERB
cblr-12479	598	3	supra	supra	PROPN
cblr-12479	598	4	part	part	PROPN
cblr-12479	598	5	iv	iv	PROPN
cblr-12479	598	6	.	.	PROPN
cblr-12479	598	7	185	185	NUM
cblr-12479	598	8	see	see	VERB
cblr-12479	598	9	bratton	bratton	PROPN
cblr-12479	598	10	&	&	CCONJ
cblr-12479	598	11	wachter	wachter	PROPN
cblr-12479	598	12	,	,	PUNCT
cblr-12479	598	13	supra	supra	PROPN
cblr-12479	598	14	note	note	NOUN
cblr-12479	598	15	91	91	NUM
cblr-12479	598	16	,	,	PUNCT
cblr-12479	598	17	at	at	ADP
cblr-12479	598	18	1882–1900	1882–1900	NUM
cblr-12479	598	19	.	.	PUNCT
cblr-12479	599	1	186	186	NUM
cblr-12479	599	2	see	see	VERB
cblr-12479	599	3	lei	lei	PROPN
cblr-12479	599	4	wang	wang	PROPN
cblr-12479	599	5	,	,	PUNCT
cblr-12479	599	6	fangzhao	fangzhao	PROPN
cblr-12479	599	7	zhou	zhou	PROPN
cblr-12479	599	8	&	&	CCONJ
cblr-12479	599	9	yunbi	yunbi	PROPN
cblr-12479	599	10	an	an	PRON
cblr-12479	599	11	,	,	PUNCT
cblr-12479	599	12	determinants	determinant	NOUN
cblr-12479	599	13	of	of	ADP
cblr-12479	599	14	control	control	NOUN
cblr-12479	599	15	structure	structure	NOUN
cblr-12479	599	16	choice	choice	NOUN
cblr-12479	599	17	between	between	ADP
cblr-12479	599	18	entrepreneurs	entrepreneur	NOUN
cblr-12479	599	19	and	and	CCONJ
cblr-12479	599	20	investors	investor	NOUN
cblr-12479	599	21	in	in	ADP
cblr-12479	599	22	venture	venture	NOUN
cblr-12479	599	23	capitalbacked	capitalbacke	VERB
cblr-12479	599	24	startups	startup	NOUN
cblr-12479	599	25	,	,	PUNCT
cblr-12479	600	1	63	63	NUM
cblr-12479	600	2	econ	econ	X
cblr-12479	600	3	.	.	PUNCT
cblr-12479	600	4	model	model	PROPN
cblr-12479	600	5	.	.	PUNCT
cblr-12479	601	1	215	215	NUM
cblr-12479	601	2	,	,	PUNCT
cblr-12479	601	3	219	219	NUM
cblr-12479	601	4	(	(	PUNCT
cblr-12479	601	5	2017	2017	NUM
cblr-12479	601	6	)	)	PUNCT
cblr-12479	601	7	(	(	PUNCT
cblr-12479	601	8	“	"	PUNCT
cblr-12479	601	9	the	the	DET
cblr-12479	601	10	final	final	ADJ
cblr-12479	601	11	valid	valid	ADJ
cblr-12479	601	12	sample	sample	NOUN
cblr-12479	601	13	had	have	VERB
cblr-12479	601	14	86	86	NUM
cblr-12479	601	15	enterprises	enterprise	NOUN
cblr-12479	601	16	.	.	PUNCT
cblr-12479	601	17	”	"	PUNCT
cblr-12479	601	18	)	)	PUNCT
cblr-12479	601	19	.	.	PUNCT
cblr-12479	602	1	187	187	NUM
cblr-12479	603	1	i	i	PRON
cblr-12479	603	2	d.	d.	PROPN
cblr-12479	603	3	at	at	ADP
cblr-12479	603	4	219–20	219–20	PROPN
cblr-12479	603	5	.	.	PUNCT
cblr-12479	604	1	no	no	INTJ
cblr-12479	604	2	.	.	NOUN
cblr-12479	605	1	2	2	NUM
cblr-12479	605	2	]	]	PUNCT
cblr-12479	605	3	the	the	DET
cblr-12479	605	4	law	law	NOUN
cblr-12479	605	5	of	of	ADP
cblr-12479	605	6	contingent	contingent	NOUN
cblr-12479	605	7	control	control	NOUN
cblr-12479	605	8	723	723	NUM
cblr-12479	605	9	under	under	ADP
cblr-12479	605	10	chinese	chinese	ADJ
cblr-12479	605	11	corporate	corporate	ADJ
cblr-12479	605	12	law	law	NOUN
cblr-12479	605	13	and	and	CCONJ
cblr-12479	605	14	that	that	SCONJ
cblr-12479	605	15	private	private	ADJ
cblr-12479	605	16	agreements	agreement	NOUN
cblr-12479	605	17	with	with	ADP
cblr-12479	605	18	particularly	particularly	ADV
cblr-12479	605	19	harsh	harsh	ADJ
cblr-12479	605	20	clauses	clause	NOUN
cblr-12479	605	21	protecting	protect	VERB
cblr-12479	605	22	investors	investor	NOUN
cblr-12479	605	23	are	be	AUX
cblr-12479	605	24	common	common	ADJ
cblr-12479	605	25	in	in	ADP
cblr-12479	605	26	china,188	china,188	NOUN
cblr-12479	605	27	rendering	render	VERB
cblr-12479	605	28	their	their	PRON
cblr-12479	605	29	assessment	assessment	NOUN
cblr-12479	605	30	of	of	ADP
cblr-12479	605	31	shared	share	VERB
cblr-12479	605	32	and	and	CCONJ
cblr-12479	605	33	contingent	contingent	ADJ
cblr-12479	605	34	control	control	NOUN
cblr-12479	605	35	imprecise	imprecise	ADV
cblr-12479	605	36	.	.	PUNCT
cblr-12479	606	1	surveys	survey	NOUN
cblr-12479	606	2	are	be	AUX
cblr-12479	606	3	common	common	ADJ
cblr-12479	606	4	in	in	ADP
cblr-12479	606	5	this	this	DET
cblr-12479	606	6	type	type	NOUN
cblr-12479	606	7	of	of	ADP
cblr-12479	606	8	studies,189	studies,189	NOUN
cblr-12479	606	9	which	which	PRON
cblr-12479	606	10	makes	make	VERB
cblr-12479	606	11	it	it	PRON
cblr-12479	606	12	crucial	crucial	ADJ
cblr-12479	606	13	to	to	PART
cblr-12479	606	14	interpret	interpret	VERB
cblr-12479	606	15	their	their	PRON
cblr-12479	606	16	results	result	NOUN
cblr-12479	606	17	restrictively	restrictively	ADV
cblr-12479	606	18	.	.	PUNCT
cblr-12479	607	1	international	international	ADJ
cblr-12479	607	2	studies	study	NOUN
cblr-12479	607	3	exploring	explore	VERB
cblr-12479	607	4	how	how	SCONJ
cblr-12479	607	5	vcs	vcs	PROPN
cblr-12479	607	6	allocate	allocate	VERB
cblr-12479	607	7	and	and	CCONJ
cblr-12479	607	8	exercise	exercise	NOUN
cblr-12479	607	9	control	control	NOUN
cblr-12479	607	10	across	across	ADP
cblr-12479	607	11	countries	country	NOUN
cblr-12479	607	12	are	be	AUX
cblr-12479	607	13	more	more	ADV
cblr-12479	607	14	robust	robust	ADJ
cblr-12479	607	15	but	but	CCONJ
cblr-12479	607	16	have	have	VERB
cblr-12479	607	17	similar	similar	ADJ
cblr-12479	607	18	shortcomings	shortcoming	NOUN
cblr-12479	607	19	.	.	PUNCT
cblr-12479	608	1	kaplan	kaplan	PROPN
cblr-12479	608	2	,	,	PUNCT
cblr-12479	608	3	martel	martel	PROPN
cblr-12479	608	4	&	&	CCONJ
cblr-12479	608	5	strömberg	strömberg	PROPN
cblr-12479	608	6	,	,	PUNCT
cblr-12479	608	7	for	for	ADP
cblr-12479	608	8	example	example	NOUN
cblr-12479	608	9	,	,	PUNCT
cblr-12479	608	10	use	use	VERB
cblr-12479	608	11	a	a	DET
cblr-12479	608	12	sizeable	sizeable	ADJ
cblr-12479	608	13	sample	sample	NOUN
cblr-12479	608	14	of	of	ADP
cblr-12479	608	15	term	term	NOUN
cblr-12479	608	16	sheets	sheet	NOUN
cblr-12479	608	17	,	,	PUNCT
cblr-12479	608	18	stock	stock	NOUN
cblr-12479	608	19	purchase	purchase	NOUN
cblr-12479	608	20	agreements	agreement	NOUN
cblr-12479	608	21	,	,	PUNCT
cblr-12479	608	22	companies	company	NOUN
cblr-12479	608	23	’	’	PART
cblr-12479	608	24	business	business	NOUN
cblr-12479	608	25	plans	plan	NOUN
cblr-12479	608	26	,	,	PUNCT
cblr-12479	608	27	and	and	CCONJ
cblr-12479	608	28	vc	vc	PROPN
cblr-12479	608	29	’s	’s	PART
cblr-12479	608	30	investment	investment	NOUN
cblr-12479	608	31	analysis	analysis	NOUN
cblr-12479	608	32	in	in	ADP
cblr-12479	608	33	145	145	NUM
cblr-12479	608	34	investments	investment	NOUN
cblr-12479	608	35	in	in	ADP
cblr-12479	608	36	23	23	NUM
cblr-12479	608	37	countries	country	NOUN
cblr-12479	608	38	,	,	PUNCT
cblr-12479	608	39	offering	offer	VERB
cblr-12479	608	40	an	an	DET
cblr-12479	608	41	insightful	insightful	ADJ
cblr-12479	608	42	account	account	NOUN
cblr-12479	608	43	of	of	ADP
cblr-12479	608	44	how	how	SCONJ
cblr-12479	608	45	the	the	DET
cblr-12479	608	46	legal	legal	ADJ
cblr-12479	608	47	structure	structure	NOUN
cblr-12479	608	48	of	of	ADP
cblr-12479	608	49	control	control	NOUN
cblr-12479	608	50	varies	vary	VERB
cblr-12479	608	51	across	across	ADP
cblr-12479	608	52	countries.190	countries.190	NOUN
cblr-12479	608	53	they	they	PRON
cblr-12479	608	54	also	also	ADV
cblr-12479	608	55	consider	consider	VERB
cblr-12479	608	56	the	the	DET
cblr-12479	608	57	extent	extent	NOUN
cblr-12479	608	58	to	to	PART
cblr-12479	608	59	which	which	PRON
cblr-12479	608	60	usstyle	usstyle	NOUN
cblr-12479	608	61	agreements	agreement	NOUN
cblr-12479	608	62	—	—	PUNCT
cblr-12479	608	63	which	which	PRON
cblr-12479	608	64	generally	generally	ADV
cblr-12479	608	65	reproduce	reproduce	VERB
cblr-12479	608	66	the	the	DET
cblr-12479	608	67	optimality	optimality	NOUN
cblr-12479	608	68	predicted	predict	VERB
cblr-12479	608	69	by	by	ADP
cblr-12479	608	70	dominant	dominant	ADJ
cblr-12479	608	71	theories	theory	NOUN
cblr-12479	608	72	—	—	PUNCT
cblr-12479	608	73	are	be	AUX
cblr-12479	608	74	observed	observe	VERB
cblr-12479	608	75	elsewhere	elsewhere	ADV
cblr-12479	608	76	and	and	CCONJ
cblr-12479	608	77	investigate	investigate	VERB
cblr-12479	608	78	how	how	SCONJ
cblr-12479	608	79	(	(	PUNCT
cblr-12479	608	80	if	if	SCONJ
cblr-12479	608	81	at	at	ADV
cblr-12479	608	82	all	all	ADV
cblr-12479	608	83	)	)	PUNCT
cblr-12479	608	84	legal	legal	ADJ
cblr-12479	608	85	differences	difference	NOUN
cblr-12479	608	86	may	may	AUX
cblr-12479	608	87	explain	explain	VERB
cblr-12479	608	88	variations	variation	NOUN
cblr-12479	608	89	in	in	ADP
cblr-12479	608	90	capital	capital	NOUN
cblr-12479	608	91	structures	structure	NOUN
cblr-12479	608	92	and	and	CCONJ
cblr-12479	608	93	security	security	NOUN
cblr-12479	608	94	design.191	design.191	NOUN
cblr-12479	608	95	to	to	ADP
cblr-12479	608	96	that	that	DET
cblr-12479	608	97	end	end	NOUN
cblr-12479	608	98	,	,	PUNCT
cblr-12479	608	99	they	they	PRON
cblr-12479	608	100	use	use	VERB
cblr-12479	608	101	several	several	ADJ
cblr-12479	608	102	legal	legal	ADJ
cblr-12479	608	103	indexes	index	NOUN
cblr-12479	608	104	compiled	compile	VERB
cblr-12479	608	105	by	by	ADP
cblr-12479	608	106	la	la	PROPN
cblr-12479	608	107	porta	porta	PROPN
cblr-12479	608	108	et	et	PROPN
cblr-12479	608	109	al	al	PROPN
cblr-12479	608	110	.	.	PROPN
cblr-12479	609	1	in	in	ADP
cblr-12479	609	2	1997	1997	NUM
cblr-12479	609	3	(	(	PUNCT
cblr-12479	609	4	e.g.	e.g.	ADV
cblr-12479	609	5	,	,	PUNCT
cblr-12479	609	6	creditor	creditor	NOUN
cblr-12479	609	7	protection	protection	NOUN
cblr-12479	609	8	,	,	PUNCT
cblr-12479	609	9	anti	anti	ADJ
cblr-12479	609	10	-	-	ADJ
cblr-12479	609	11	director	director	ADJ
cblr-12479	609	12	rights	right	NOUN
cblr-12479	609	13	)	)	PUNCT
cblr-12479	609	14	,	,	PUNCT
cblr-12479	609	15	which	which	PRON
cblr-12479	609	16	are	be	AUX
cblr-12479	609	17	somewhat	somewhat	ADV
cblr-12479	609	18	uniform	uniform	ADJ
cblr-12479	609	19	but	but	CCONJ
cblr-12479	609	20	have	have	VERB
cblr-12479	609	21	three	three	NUM
cblr-12479	609	22	concrete	concrete	ADJ
cblr-12479	609	23	limitations.192	limitations.192	PRON
cblr-12479	609	24	first	first	ADV
cblr-12479	609	25	,	,	PUNCT
cblr-12479	609	26	they	they	PRON
cblr-12479	609	27	are	be	AUX
cblr-12479	609	28	imprecise	imprecise	ADV
cblr-12479	609	29	due	due	ADJ
cblr-12479	609	30	to	to	ADP
cblr-12479	609	31	significant	significant	ADJ
cblr-12479	609	32	coding	coding	NOUN
cblr-12479	609	33	problems	problem	NOUN
cblr-12479	609	34	that	that	PRON
cblr-12479	609	35	the	the	DET
cblr-12479	609	36	legal	legal	ADJ
cblr-12479	609	37	literature	literature	NOUN
cblr-12479	609	38	has	have	VERB
cblr-12479	609	39	uncovered.193	uncovered.193	NOUN
cblr-12479	609	40	second	second	ADJ
cblr-12479	609	41	,	,	PUNCT
cblr-12479	609	42	they	they	PRON
cblr-12479	609	43	are	be	AUX
cblr-12479	609	44	not	not	PART
cblr-12479	609	45	representative	representative	NOUN
cblr-12479	609	46	of	of	ADP
cblr-12479	609	47	the	the	DET
cblr-12479	609	48	laws	law	NOUN
cblr-12479	609	49	governing	govern	VERB
cblr-12479	609	50	board	board	NOUN
cblr-12479	609	51	and	and	CCONJ
cblr-12479	609	52	voting	voting	NOUN
cblr-12479	609	53	rights	right	NOUN
cblr-12479	609	54	in	in	ADP
cblr-12479	609	55	vc	vc	NOUN
cblr-12479	609	56	-	-	PUNCT
cblr-12479	609	57	backed	back	VERB
cblr-12479	609	58	firms	firm	NOUN
cblr-12479	609	59	,	,	PUNCT
cblr-12479	609	60	but	but	CCONJ
cblr-12479	609	61	legal	legal	ADJ
cblr-12479	609	62	rules	rule	NOUN
cblr-12479	609	63	for	for	ADP
cblr-12479	609	64	listed	list	VERB
cblr-12479	609	65	companies.194	companies.194	PROPN
cblr-12479	609	66	third	third	ADV
cblr-12479	609	67	,	,	PUNCT
cblr-12479	609	68	these	these	DET
cblr-12479	609	69	indexes	index	NOUN
cblr-12479	609	70	are	be	AUX
cblr-12479	609	71	based	base	VERB
cblr-12479	609	72	on	on	ADP
cblr-12479	609	73	legal	legal	ADJ
cblr-12479	609	74	systems	system	NOUN
cblr-12479	609	75	’	'	PUNCT
cblr-12479	609	76	perceived	perceive	VERB
cblr-12479	609	77	quality	quality	NOUN
cblr-12479	609	78	before	before	ADP
cblr-12479	609	79	the	the	DET
cblr-12479	609	80	globalization	globalization	NOUN
cblr-12479	609	81	of	of	ADP
cblr-12479	609	82	vc	vc	PROPN
cblr-12479	609	83	and	and	CCONJ
cblr-12479	609	84	the	the	DET
cblr-12479	609	85	proliferation	proliferation	NOUN
cblr-12479	609	86	of	of	ADP
cblr-12479	609	87	legal	legal	ADJ
cblr-12479	609	88	reforms	reform	NOUN
cblr-12479	609	89	explicitly	explicitly	ADV
cblr-12479	609	90	aimed	aim	VERB
cblr-12479	609	91	at	at	ADP
cblr-12479	609	92	facilitating	facilitate	VERB
cblr-12479	609	93	vc	vc	NOUN
cblr-12479	609	94	investments.195	investments.195	NOUN
cblr-12479	609	95	notwithstanding	notwithstanding	ADP
cblr-12479	609	96	these	these	DET
cblr-12479	609	97	and	and	CCONJ
cblr-12479	609	98	other	other	ADJ
cblr-12479	609	99	limitations	limitation	NOUN
cblr-12479	609	100	of	of	ADP
cblr-12479	609	101	these	these	DET
cblr-12479	609	102	legal	legal	ADJ
cblr-12479	609	103	indexes	index	NOUN
cblr-12479	609	104	,	,	PUNCT
cblr-12479	609	105	they	they	PRON
cblr-12479	609	106	remain	remain	VERB
cblr-12479	609	107	common	common	ADJ
cblr-12479	609	108	in	in	ADP
cblr-12479	609	109	188	188	NUM
cblr-12479	609	110	see	see	NOUN
cblr-12479	609	111	lin	lin	PROPN
cblr-12479	609	112	,	,	PUNCT
cblr-12479	609	113	supra	supra	PROPN
cblr-12479	609	114	note	note	PROPN
cblr-12479	609	115	18	18	NUM
cblr-12479	609	116	.	.	NOUN
cblr-12479	609	117	189	189	NUM
cblr-12479	609	118	see	see	NOUN
cblr-12479	609	119	da	da	PROPN
cblr-12479	609	120	rin	rin	PROPN
cblr-12479	609	121	et	et	PROPN
cblr-12479	609	122	al	al	PROPN
cblr-12479	609	123	.	.	PROPN
cblr-12479	609	124	,	,	PUNCT
cblr-12479	609	125	supra	supra	PROPN
cblr-12479	609	126	note	note	NOUN
cblr-12479	610	1	9	9	NUM
cblr-12479	610	2	.	.	SYM
cblr-12479	610	3	190	190	NUM
cblr-12479	610	4	see	see	VERB
cblr-12479	610	5	kaplan	kaplan	PROPN
cblr-12479	610	6	et	et	PROPN
cblr-12479	610	7	al	al	PROPN
cblr-12479	610	8	.	.	PROPN
cblr-12479	610	9	,	,	PUNCT
cblr-12479	610	10	supra	supra	PROPN
cblr-12479	610	11	note	note	VERB
cblr-12479	610	12	25	25	NUM
cblr-12479	610	13	at	at	ADP
cblr-12479	610	14	274	274	NUM
cblr-12479	610	15	.	.	NUM
cblr-12479	610	16	191	191	NUM
cblr-12479	611	1	i	i	PRON
cblr-12479	611	2	d.	d.	PROPN
cblr-12479	611	3	192	192	NUM
cblr-12479	612	1	i	i	PRON
cblr-12479	612	2	d.	d.	PROPN
cblr-12479	612	3	at	at	ADP
cblr-12479	612	4	311	311	NUM
cblr-12479	612	5	(	(	PUNCT
cblr-12479	612	6	“	"	PUNCT
cblr-12479	612	7	‘	'	PUNCT
cblr-12479	612	8	accounting	accounting	NOUN
cblr-12479	612	9	standards	standard	NOUN
cblr-12479	612	10	,	,	PUNCT
cblr-12479	612	11	’	'	PUNCT
cblr-12479	612	12	‘	'	PUNCT
cblr-12479	612	13	creditor	creditor	NOUN
cblr-12479	612	14	protection	protection	NOUN
cblr-12479	612	15	,	,	PUNCT
cblr-12479	612	16	’	'	PUNCT
cblr-12479	612	17	and	and	CCONJ
cblr-12479	612	18	‘	'	PUNCT
cblr-12479	612	19	minority	minority	NOUN
cblr-12479	612	20	protection	protection	NOUN
cblr-12479	612	21	’	'	PUNCT
cblr-12479	612	22	[	[	X
cblr-12479	612	23	‘	'	PUNCT
cblr-12479	612	24	anti	anti	ADJ
cblr-12479	612	25	-	-	ADJ
cblr-12479	612	26	director	director	ADJ
cblr-12479	612	27	rights	right	NOUN
cblr-12479	612	28	’	'	PUNCT
cblr-12479	612	29	]	]	PUNCT
cblr-12479	612	30	are	be	AUX
cblr-12479	612	31	from	from	ADP
cblr-12479	612	32	la	la	ADV
cblr-12479	612	33	porta	porta	NOUN
cblr-12479	612	34	et	et	PROPN
cblr-12479	612	35	al	al	PROPN
cblr-12479	612	36	.	.	PUNCT
cblr-12479	613	1	[	[	X
cblr-12479	613	2	1997	1997	NUM
cblr-12479	613	3	]	]	PUNCT
cblr-12479	613	4	”	"	PUNCT
cblr-12479	613	5	)	)	PUNCT
cblr-12479	613	6	.	.	PUNCT
cblr-12479	614	1	193	193	NUM
cblr-12479	614	2	see	see	VERB
cblr-12479	614	3	,	,	PUNCT
cblr-12479	614	4	e.g.	e.g.	ADV
cblr-12479	614	5	,	,	PUNCT
cblr-12479	614	6	spamann	spamann	NOUN
cblr-12479	614	7	,	,	PUNCT
cblr-12479	614	8	supra	supra	PROPN
cblr-12479	614	9	note	note	PROPN
cblr-12479	614	10	58	58	NUM
cblr-12479	614	11	;	;	PUNCT
cblr-12479	614	12	pistor	pistor	NOUN
cblr-12479	614	13	,	,	PUNCT
cblr-12479	614	14	supra	supra	PROPN
cblr-12479	614	15	note	note	NOUN
cblr-12479	614	16	58	58	NUM
cblr-12479	614	17	.	.	PUNCT
cblr-12479	615	1	194	194	NUM
cblr-12479	615	2	see	see	VERB
cblr-12479	615	3	supra	supra	PROPN
cblr-12479	615	4	note	note	PROPN
cblr-12479	615	5	59	59	NUM
cblr-12479	615	6	and	and	CCONJ
cblr-12479	615	7	accompanying	accompany	VERB
cblr-12479	615	8	text	text	NOUN
cblr-12479	615	9	.	.	PUNCT
cblr-12479	616	1	195	195	NUM
cblr-12479	616	2	see	see	VERB
cblr-12479	616	3	supra	supra	PROPN
cblr-12479	616	4	note	note	NOUN
cblr-12479	616	5	60	60	NUM
cblr-12479	616	6	and	and	CCONJ
cblr-12479	616	7	accompanying	accompany	VERB
cblr-12479	616	8	text	text	NOUN
cblr-12479	616	9	.	.	PUNCT
cblr-12479	617	1	724	724	NUM
cblr-12479	617	2	columbia	columbia	PROPN
cblr-12479	617	3	business	business	NOUN
cblr-12479	617	4	law	law	PROPN
cblr-12479	617	5	review	review	NOUN
cblr-12479	618	1	[	[	X
cblr-12479	618	2	vol	vol	NOUN
cblr-12479	618	3	.	.	PUNCT
cblr-12479	618	4	2023	2023	NUM
cblr-12479	618	5	international	international	ADJ
cblr-12479	618	6	empirical	empirical	ADJ
cblr-12479	618	7	studies	study	NOUN
cblr-12479	618	8	of	of	ADP
cblr-12479	618	9	the	the	DET
cblr-12479	618	10	institutional	institutional	ADJ
cblr-12479	618	11	determinants	determinant	NOUN
cblr-12479	618	12	of	of	ADP
cblr-12479	618	13	vc	vc	PROPN
cblr-12479	618	14	finance,196	finance,196	PROPN
cblr-12479	618	15	which	which	PRON
cblr-12479	618	16	begs	beg	VERB
cblr-12479	618	17	a	a	DET
cblr-12479	618	18	cautious	cautious	ADJ
cblr-12479	618	19	evaluation	evaluation	NOUN
cblr-12479	618	20	of	of	ADP
cblr-12479	618	21	their	their	PRON
cblr-12479	618	22	findings	finding	NOUN
cblr-12479	618	23	,	,	PUNCT
cblr-12479	618	24	especially	especially	ADV
cblr-12479	618	25	when	when	SCONJ
cblr-12479	618	26	they	they	PRON
cblr-12479	618	27	are	be	AUX
cblr-12479	618	28	invoked	invoke	VERB
cblr-12479	618	29	to	to	PART
cblr-12479	618	30	justify	justify	VERB
cblr-12479	618	31	legal	legal	ADJ
cblr-12479	618	32	reform	reform	NOUN
cblr-12479	618	33	.	.	PUNCT
cblr-12479	619	1	the	the	DET
cblr-12479	619	2	evidence	evidence	NOUN
cblr-12479	619	3	and	and	CCONJ
cblr-12479	619	4	analyses	analysis	NOUN
cblr-12479	619	5	advanced	advanced	ADJ
cblr-12479	619	6	in	in	ADP
cblr-12479	619	7	this	this	DET
cblr-12479	619	8	paper	paper	NOUN
cblr-12479	619	9	reveal	reveal	VERB
cblr-12479	619	10	that	that	SCONJ
cblr-12479	619	11	corporate	corporate	ADJ
cblr-12479	619	12	law	law	NOUN
cblr-12479	619	13	has	have	VERB
cblr-12479	619	14	a	a	DET
cblr-12479	619	15	more	more	ADV
cblr-12479	619	16	decisive	decisive	ADJ
cblr-12479	619	17	influence	influence	NOUN
cblr-12479	619	18	on	on	ADP
cblr-12479	619	19	the	the	DET
cblr-12479	619	20	legal	legal	ADJ
cblr-12479	619	21	structure	structure	NOUN
cblr-12479	619	22	of	of	ADP
cblr-12479	619	23	control	control	NOUN
cblr-12479	619	24	in	in	ADP
cblr-12479	619	25	vc	vc	NOUN
cblr-12479	619	26	-	-	PUNCT
cblr-12479	619	27	backed	back	VERB
cblr-12479	619	28	firms	firm	NOUN
cblr-12479	619	29	across	across	ADP
cblr-12479	619	30	countries	country	NOUN
cblr-12479	619	31	than	than	SCONJ
cblr-12479	619	32	previously	previously	ADV
cblr-12479	619	33	assumed	assume	VERB
cblr-12479	619	34	,	,	PUNCT
cblr-12479	619	35	shedding	shed	VERB
cblr-12479	619	36	light	light	NOUN
cblr-12479	619	37	on	on	ADP
cblr-12479	619	38	new	new	ADJ
cblr-12479	619	39	lines	line	NOUN
cblr-12479	619	40	of	of	ADP
cblr-12479	619	41	empirical	empirical	ADJ
cblr-12479	619	42	research	research	NOUN
cblr-12479	619	43	.	.	PUNCT
cblr-12479	620	1	observed	observe	VERB
cblr-12479	620	2	variations	variation	NOUN
cblr-12479	620	3	in	in	ADP
cblr-12479	620	4	the	the	DET
cblr-12479	620	5	structure	structure	NOUN
cblr-12479	620	6	of	of	ADP
cblr-12479	620	7	vc	vc	PROPN
cblr-12479	620	8	deals	deal	NOUN
cblr-12479	620	9	across	across	ADP
cblr-12479	620	10	countries	country	NOUN
cblr-12479	620	11	(	(	PUNCT
cblr-12479	620	12	e.g.	e.g.	ADV
cblr-12479	620	13	,	,	PUNCT
cblr-12479	620	14	security	security	NOUN
cblr-12479	620	15	design	design	NOUN
cblr-12479	620	16	)	)	PUNCT
cblr-12479	620	17	may	may	AUX
cblr-12479	620	18	be	be	AUX
cblr-12479	620	19	more	more	ADV
cblr-12479	620	20	related	related	ADJ
cblr-12479	620	21	to	to	ADP
cblr-12479	620	22	legal	legal	ADJ
cblr-12479	620	23	constraints	constraint	NOUN
cblr-12479	620	24	to	to	ADP
cblr-12479	620	25	security	security	NOUN
cblr-12479	620	26	design	design	NOUN
cblr-12479	620	27	than	than	ADP
cblr-12479	620	28	to	to	ADP
cblr-12479	620	29	static	static	ADJ
cblr-12479	620	30	measures	measure	NOUN
cblr-12479	620	31	of	of	ADP
cblr-12479	620	32	legal	legal	ADJ
cblr-12479	620	33	systems	system	NOUN
cblr-12479	620	34	’	'	PUNCT
cblr-12479	620	35	perceived	perceive	VERB
cblr-12479	620	36	quality	quality	NOUN
cblr-12479	620	37	or	or	CCONJ
cblr-12479	620	38	the	the	DET
cblr-12479	620	39	sophistication	sophistication	NOUN
cblr-12479	620	40	of	of	ADP
cblr-12479	620	41	vcs	vcs	PROPN
cblr-12479	620	42	.	.	PUNCT
cblr-12479	621	1	variations	variation	NOUN
cblr-12479	621	2	observed	observe	VERB
cblr-12479	621	3	in	in	ADP
cblr-12479	621	4	vc	vc	PROPN
cblr-12479	621	5	over	over	ADP
cblr-12479	621	6	time	time	NOUN
cblr-12479	621	7	may	may	AUX
cblr-12479	621	8	also	also	ADV
cblr-12479	621	9	be	be	AUX
cblr-12479	621	10	explained	explain	VERB
cblr-12479	621	11	by	by	ADP
cblr-12479	621	12	changes	change	NOUN
cblr-12479	621	13	in	in	ADP
cblr-12479	621	14	the	the	DET
cblr-12479	621	15	law	law	NOUN
cblr-12479	621	16	,	,	PUNCT
cblr-12479	621	17	including	include	VERB
cblr-12479	621	18	those	those	PRON
cblr-12479	621	19	derived	derive	VERB
cblr-12479	621	20	from	from	ADP
cblr-12479	621	21	judicial	judicial	ADJ
cblr-12479	621	22	interpretation	interpretation	NOUN
cblr-12479	621	23	.	.	PUNCT
cblr-12479	622	1	the	the	DET
cblr-12479	622	2	nvca	nvca	NOUN
cblr-12479	622	3	periodically	periodically	ADV
cblr-12479	622	4	amends	amend	VERB
cblr-12479	622	5	its	its	PRON
cblr-12479	622	6	term	term	NOUN
cblr-12479	622	7	sheets	sheet	NOUN
cblr-12479	622	8	,	,	PUNCT
cblr-12479	622	9	which	which	PRON
cblr-12479	622	10	supports	support	VERB
cblr-12479	622	11	this	this	DET
cblr-12479	622	12	proposition	proposition	NOUN
cblr-12479	622	13	and	and	CCONJ
cblr-12479	622	14	invites	invite	VERB
cblr-12479	622	15	further	further	ADJ
cblr-12479	622	16	scrutiny	scrutiny	NOUN
cblr-12479	622	17	over	over	ADP
cblr-12479	622	18	the	the	DET
cblr-12479	622	19	legal	legal	ADJ
cblr-12479	622	20	determinants	determinant	NOUN
cblr-12479	622	21	of	of	ADP
cblr-12479	622	22	vc	vc	PROPN
cblr-12479	622	23	finance	finance	NOUN
cblr-12479	622	24	.	.	PUNCT
cblr-12479	623	1	b.	b.	PROPN
cblr-12479	623	2	corporate	corporate	ADJ
cblr-12479	623	3	law	law	NOUN
cblr-12479	623	4	design	design	NOUN
cblr-12479	623	5	contingent	contingent	NOUN
cblr-12479	623	6	control	control	NOUN
cblr-12479	623	7	is	be	AUX
cblr-12479	623	8	fundamental	fundamental	ADJ
cblr-12479	623	9	for	for	ADP
cblr-12479	623	10	vc	vc	PROPN
cblr-12479	623	11	finance	finance	NOUN
cblr-12479	623	12	.	.	PUNCT
cblr-12479	624	1	whether	whether	SCONJ
cblr-12479	624	2	and	and	CCONJ
cblr-12479	624	3	how	how	SCONJ
cblr-12479	624	4	corporate	corporate	ADJ
cblr-12479	624	5	law	law	NOUN
cblr-12479	624	6	facilitates	facilitate	VERB
cblr-12479	624	7	or	or	CCONJ
cblr-12479	624	8	discourages	discourage	VERB
cblr-12479	624	9	the	the	DET
cblr-12479	624	10	structure	structure	NOUN
cblr-12479	624	11	of	of	ADP
cblr-12479	624	12	contingent	contingent	ADJ
cblr-12479	624	13	control	control	NOUN
cblr-12479	624	14	is	be	AUX
cblr-12479	624	15	of	of	ADP
cblr-12479	624	16	paramount	paramount	ADJ
cblr-12479	624	17	importance	importance	NOUN
cblr-12479	624	18	to	to	PART
cblr-12479	624	19	foster	foster	VERB
cblr-12479	624	20	startup	startup	NOUN
cblr-12479	624	21	growth	growth	NOUN
cblr-12479	624	22	and	and	CCONJ
cblr-12479	624	23	vc	vc	NOUN
cblr-12479	624	24	through	through	ADP
cblr-12479	624	25	legal	legal	ADJ
cblr-12479	624	26	reform	reform	NOUN
cblr-12479	624	27	.	.	PUNCT
cblr-12479	625	1	two	two	NUM
cblr-12479	625	2	general	general	ADJ
cblr-12479	625	3	implications	implication	NOUN
cblr-12479	625	4	for	for	ADP
cblr-12479	625	5	corporate	corporate	ADJ
cblr-12479	625	6	law	law	NOUN
cblr-12479	625	7	design	design	NOUN
cblr-12479	625	8	follow	follow	VERB
cblr-12479	625	9	from	from	ADP
cblr-12479	625	10	the	the	DET
cblr-12479	625	11	comparative	comparative	ADJ
cblr-12479	625	12	examination	examination	NOUN
cblr-12479	625	13	of	of	ADP
cblr-12479	625	14	the	the	DET
cblr-12479	625	15	legal	legal	ADJ
cblr-12479	625	16	structure	structure	NOUN
cblr-12479	625	17	of	of	ADP
cblr-12479	625	18	contingent	contingent	ADJ
cblr-12479	625	19	control	control	NOUN
cblr-12479	625	20	.	.	PUNCT
cblr-12479	626	1	one	one	NUM
cblr-12479	626	2	is	be	AUX
cblr-12479	626	3	that	that	SCONJ
cblr-12479	626	4	legal	legal	ADJ
cblr-12479	626	5	restrictions	restriction	NOUN
cblr-12479	626	6	to	to	ADP
cblr-12479	626	7	security	security	NOUN
cblr-12479	626	8	design	design	NOUN
cblr-12479	626	9	in	in	ADP
cblr-12479	626	10	non	non	ADJ
cblr-12479	626	11	-	-	ADJ
cblr-12479	626	12	listed	listed	ADJ
cblr-12479	626	13	companies	company	NOUN
cblr-12479	626	14	should	should	AUX
cblr-12479	626	15	be	be	AUX
cblr-12479	626	16	removed	remove	VERB
cblr-12479	626	17	or	or	CCONJ
cblr-12479	626	18	recalibrated	recalibrate	VERB
cblr-12479	626	19	,	,	PUNCT
cblr-12479	626	20	as	as	SCONJ
cblr-12479	626	21	they	they	PRON
cblr-12479	626	22	reduce	reduce	VERB
cblr-12479	626	23	the	the	DET
cblr-12479	626	24	range	range	NOUN
cblr-12479	626	25	of	of	ADP
cblr-12479	626	26	bargains	bargain	NOUN
cblr-12479	626	27	over	over	ADP
cblr-12479	626	28	control	control	NOUN
cblr-12479	626	29	between	between	ADP
cblr-12479	626	30	entrepreneurs	entrepreneur	NOUN
cblr-12479	626	31	and	and	CCONJ
cblr-12479	626	32	investors	investor	NOUN
cblr-12479	626	33	,	,	PUNCT
cblr-12479	626	34	hampering	hamper	VERB
cblr-12479	626	35	the	the	DET
cblr-12479	626	36	financing	financing	NOUN
cblr-12479	626	37	of	of	ADP
cblr-12479	626	38	potentially	potentially	ADV
cblr-12479	626	39	viable	viable	ADJ
cblr-12479	626	40	companies.197	companies.197	NOUN
cblr-12479	626	41	total	total	ADJ
cblr-12479	626	42	or	or	CCONJ
cblr-12479	626	43	qualified	qualified	ADJ
cblr-12479	626	44	removal	removal	NOUN
cblr-12479	626	45	of	of	ADP
cblr-12479	626	46	pervasive	pervasive	ADJ
cblr-12479	626	47	restrictions	restriction	NOUN
cblr-12479	626	48	,	,	PUNCT
cblr-12479	626	49	such	such	ADJ
cblr-12479	626	50	as	as	ADP
cblr-12479	626	51	to	to	ADP
cblr-12479	626	52	multiple	multiple	ADJ
cblr-12479	626	53	-	-	PUNCT
cblr-12479	626	54	voting	vote	VERB
cblr-12479	626	55	shares	share	NOUN
cblr-12479	626	56	,	,	PUNCT
cblr-12479	626	57	class	class	NOUN
cblr-12479	626	58	-	-	PUNCT
cblr-12479	626	59	based	base	VERB
cblr-12479	626	60	board	board	NOUN
cblr-12479	626	61	representation	representation	NOUN
cblr-12479	626	62	or	or	CCONJ
cblr-12479	626	63	boards	board	NOUN
cblr-12479	626	64	’	’	PART
cblr-12479	626	65	powers	power	NOUN
cblr-12479	626	66	to	to	PART
cblr-12479	626	67	issue	issue	VERB
cblr-12479	626	68	bespoke	bespoke	NOUN
cblr-12479	626	69	securities	security	NOUN
cblr-12479	626	70	,	,	PUNCT
cblr-12479	626	71	could	could	AUX
cblr-12479	626	72	significantly	significantly	ADV
cblr-12479	626	73	expand	expand	VERB
cblr-12479	626	74	the	the	DET
cblr-12479	626	75	196	196	NUM
cblr-12479	626	76	see	see	NOUN
cblr-12479	626	77	,	,	PUNCT
cblr-12479	626	78	e.g.	e.g.	ADV
cblr-12479	626	79	,	,	PUNCT
cblr-12479	626	80	lerner	lerner	PROPN
cblr-12479	626	81	&	&	CCONJ
cblr-12479	626	82	schoar	schoar	PROPN
cblr-12479	626	83	,	,	PUNCT
cblr-12479	626	84	supra	supra	PROPN
cblr-12479	626	85	note	note	PROPN
cblr-12479	626	86	25	25	NUM
cblr-12479	626	87	;	;	PUNCT
cblr-12479	626	88	josh	josh	PROPN
cblr-12479	626	89	lerner	lerner	PROPN
cblr-12479	626	90	&	&	CCONJ
cblr-12479	626	91	joacim	joacim	PROPN
cblr-12479	626	92	tag	tag	PROPN
cblr-12479	626	93	,	,	PUNCT
cblr-12479	626	94	institutions	institution	NOUN
cblr-12479	626	95	and	and	CCONJ
cblr-12479	626	96	venture	venture	NOUN
cblr-12479	626	97	capital	capital	NOUN
cblr-12479	626	98	,	,	PUNCT
cblr-12479	626	99	22	22	NUM
cblr-12479	626	100	ind	ind	PROPN
cblr-12479	626	101	.	.	PUNCT
cblr-12479	627	1	corp	corp	PROPN
cblr-12479	627	2	.	.	PROPN
cblr-12479	627	3	change	change	VERB
cblr-12479	627	4	153	153	NUM
cblr-12479	627	5	(	(	PUNCT
cblr-12479	627	6	2013	2013	NUM
cblr-12479	627	7	)	)	PUNCT
cblr-12479	627	8	;	;	PUNCT
cblr-12479	628	1	khoury	khoury	PROPN
cblr-12479	628	2	et	et	PROPN
cblr-12479	628	3	al	al	PROPN
cblr-12479	628	4	.	.	PROPN
cblr-12479	628	5	,	,	PUNCT
cblr-12479	628	6	supra	supra	PROPN
cblr-12479	628	7	note	note	VERB
cblr-12479	628	8	57	57	NUM
cblr-12479	628	9	.	.	SYM
cblr-12479	628	10	197	197	NUM
cblr-12479	629	1	see	see	VERB
cblr-12479	629	2	supra	supra	PROPN
cblr-12479	629	3	part	part	PROPN
cblr-12479	629	4	iv	iv	X
cblr-12479	629	5	.	.	PUNCT
cblr-12479	630	1	no	no	INTJ
cblr-12479	630	2	.	.	NOUN
cblr-12479	631	1	2	2	NUM
cblr-12479	631	2	]	]	PUNCT
cblr-12479	631	3	the	the	DET
cblr-12479	631	4	law	law	NOUN
cblr-12479	631	5	of	of	ADP
cblr-12479	631	6	contingent	contingent	NOUN
cblr-12479	631	7	control	control	VERB
cblr-12479	631	8	725	725	NUM
cblr-12479	631	9	spectrum	spectrum	NOUN
cblr-12479	631	10	of	of	ADP
cblr-12479	631	11	negotiation	negotiation	NOUN
cblr-12479	631	12	and	and	CCONJ
cblr-12479	631	13	facilitate	facilitate	VERB
cblr-12479	631	14	the	the	DET
cblr-12479	631	15	structuring	structuring	NOUN
cblr-12479	631	16	of	of	ADP
cblr-12479	631	17	contingent	contingent	ADJ
cblr-12479	631	18	control	control	NOUN
cblr-12479	631	19	.	.	PUNCT
cblr-12479	632	1	reforms	reform	NOUN
cblr-12479	632	2	,	,	PUNCT
cblr-12479	632	3	of	of	ADP
cblr-12479	632	4	course	course	NOUN
cblr-12479	632	5	,	,	PUNCT
cblr-12479	632	6	require	require	VERB
cblr-12479	632	7	tradeoffs	tradeoff	NOUN
cblr-12479	632	8	.	.	PUNCT
cblr-12479	633	1	enhanced	enhance	VERB
cblr-12479	633	2	freedom	freedom	NOUN
cblr-12479	633	3	to	to	PART
cblr-12479	633	4	design	design	VERB
cblr-12479	633	5	securities	security	NOUN
cblr-12479	633	6	and	and	CCONJ
cblr-12479	633	7	customize	customize	VERB
cblr-12479	633	8	boards	board	NOUN
cblr-12479	633	9	’	'	PUNCT
cblr-12479	633	10	composition	composition	NOUN
cblr-12479	633	11	and	and	CCONJ
cblr-12479	633	12	powers	power	NOUN
cblr-12479	633	13	would	would	AUX
cblr-12479	633	14	not	not	PART
cblr-12479	633	15	only	only	ADV
cblr-12479	633	16	expand	expand	VERB
cblr-12479	633	17	the	the	DET
cblr-12479	633	18	range	range	NOUN
cblr-12479	633	19	of	of	ADP
cblr-12479	633	20	bargains	bargain	NOUN
cblr-12479	633	21	,	,	PUNCT
cblr-12479	633	22	but	but	CCONJ
cblr-12479	633	23	also	also	ADV
cblr-12479	633	24	increase	increase	VERB
cblr-12479	633	25	the	the	DET
cblr-12479	633	26	complexity	complexity	NOUN
cblr-12479	633	27	of	of	ADP
cblr-12479	633	28	startups	startup	NOUN
cblr-12479	633	29	’	'	PUNCT
cblr-12479	633	30	governance	governance	NOUN
cblr-12479	633	31	structures	structure	NOUN
cblr-12479	633	32	,	,	PUNCT
cblr-12479	633	33	creating	create	VERB
cblr-12479	633	34	new	new	ADJ
cblr-12479	633	35	corporate	corporate	ADJ
cblr-12479	633	36	law	law	NOUN
cblr-12479	633	37	challenges.198	challenges.198	NOUN
cblr-12479	633	38	attempts	attempt	NOUN
cblr-12479	633	39	to	to	PART
cblr-12479	633	40	reform	reform	VERB
cblr-12479	633	41	also	also	ADV
cblr-12479	633	42	call	call	VERB
cblr-12479	633	43	for	for	ADP
cblr-12479	633	44	a	a	DET
cblr-12479	633	45	tradeoffs	tradeoff	NOUN
cblr-12479	633	46	analysis	analysis	NOUN
cblr-12479	633	47	that	that	PRON
cblr-12479	633	48	is	be	AUX
cblr-12479	633	49	context	context	NOUN
cblr-12479	633	50	specific	specific	ADJ
cblr-12479	633	51	.	.	PUNCT
cblr-12479	634	1	for	for	ADP
cblr-12479	634	2	example	example	NOUN
cblr-12479	634	3	,	,	PUNCT
cblr-12479	634	4	enabling	enable	VERB
cblr-12479	634	5	boards	board	NOUN
cblr-12479	634	6	’	'	PUNCT
cblr-12479	634	7	empowerment	empowerment	NOUN
cblr-12479	634	8	to	to	PART
cblr-12479	634	9	issue	issue	VERB
cblr-12479	634	10	preferred	preferred	ADJ
cblr-12479	634	11	shares	share	NOUN
cblr-12479	634	12	in	in	ADP
cblr-12479	634	13	jurisdictions	jurisdiction	NOUN
cblr-12479	634	14	with	with	ADP
cblr-12479	634	15	weak	weak	ADJ
cblr-12479	634	16	minority	minority	NOUN
cblr-12479	634	17	shareholder	shareholder	NOUN
cblr-12479	634	18	protection	protection	NOUN
cblr-12479	634	19	could	could	AUX
cblr-12479	634	20	exacerbate	exacerbate	VERB
cblr-12479	634	21	their	their	PRON
cblr-12479	634	22	vulnerability	vulnerability	NOUN
cblr-12479	634	23	.	.	PUNCT
cblr-12479	635	1	still	still	ADV
cblr-12479	635	2	,	,	PUNCT
cblr-12479	635	3	an	an	DET
cblr-12479	635	4	open	open	ADJ
cblr-12479	635	5	discussion	discussion	NOUN
cblr-12479	635	6	of	of	ADP
cblr-12479	635	7	those	those	DET
cblr-12479	635	8	tradeoffs	tradeoff	NOUN
cblr-12479	635	9	,	,	PUNCT
cblr-12479	635	10	premised	premise	VERB
cblr-12479	635	11	on	on	ADP
cblr-12479	635	12	the	the	DET
cblr-12479	635	13	ever	ever	ADV
cblr-12479	635	14	-	-	PUNCT
cblr-12479	635	15	fiercer	fierce	ADJ
cblr-12479	635	16	competition	competition	NOUN
cblr-12479	635	17	to	to	PART
cblr-12479	635	18	expand	expand	VERB
cblr-12479	635	19	startups	startup	NOUN
cblr-12479	635	20	’	'	PUNCT
cblr-12479	635	21	access	access	NOUN
cblr-12479	635	22	to	to	ADP
cblr-12479	635	23	vc	vc	PROPN
cblr-12479	635	24	,	,	PUNCT
cblr-12479	635	25	would	would	AUX
cblr-12479	635	26	offer	offer	VERB
cblr-12479	635	27	an	an	DET
cblr-12479	635	28	opportunity	opportunity	NOUN
cblr-12479	635	29	to	to	PART
cblr-12479	635	30	examine	examine	VERB
cblr-12479	635	31	emerging	emerge	VERB
cblr-12479	635	32	trends	trend	NOUN
cblr-12479	635	33	in	in	ADP
cblr-12479	635	34	the	the	DET
cblr-12479	635	35	governance	governance	NOUN
cblr-12479	635	36	of	of	ADP
cblr-12479	635	37	vc	vc	PROPN
cblr-12479	635	38	-	-	PUNCT
cblr-12479	635	39	backed	back	VERB
cblr-12479	635	40	companies	company	NOUN
cblr-12479	635	41	that	that	PRON
cblr-12479	635	42	challenge	challenge	VERB
cblr-12479	635	43	the	the	DET
cblr-12479	635	44	traditional	traditional	ADJ
cblr-12479	635	45	regulation	regulation	NOUN
cblr-12479	635	46	of	of	ADP
cblr-12479	635	47	private	private	ADJ
cblr-12479	635	48	companies	company	NOUN
cblr-12479	635	49	.	.	PUNCT
cblr-12479	636	1	for	for	ADP
cblr-12479	636	2	instance	instance	NOUN
cblr-12479	636	3	,	,	PUNCT
cblr-12479	636	4	whether	whether	SCONJ
cblr-12479	636	5	constituency	constituency	NOUN
cblr-12479	636	6	directors	director	NOUN
cblr-12479	636	7	,	,	PUNCT
cblr-12479	636	8	de	de	X
cblr-12479	636	9	jure	jure	NOUN
cblr-12479	636	10	or	or	CCONJ
cblr-12479	636	11	de	de	X
cblr-12479	636	12	facto	facto	X
cblr-12479	636	13	,	,	PUNCT
cblr-12479	636	14	should	should	AUX
cblr-12479	636	15	prioritize	prioritize	VERB
cblr-12479	636	16	the	the	DET
cblr-12479	636	17	interest	interest	NOUN
cblr-12479	636	18	of	of	ADP
cblr-12479	636	19	the	the	DET
cblr-12479	636	20	corporation	corporation	NOUN
cblr-12479	636	21	as	as	ADP
cblr-12479	636	22	a	a	DET
cblr-12479	636	23	whole	whole	NOUN
cblr-12479	636	24	or	or	CCONJ
cblr-12479	636	25	their	their	PRON
cblr-12479	636	26	constituents	constituent	NOUN
cblr-12479	636	27	when	when	SCONJ
cblr-12479	636	28	those	those	PRON
cblr-12479	636	29	are	be	AUX
cblr-12479	636	30	in	in	ADP
cblr-12479	636	31	tension.199	tension.199	NOUN
cblr-12479	636	32	this	this	DET
cblr-12479	636	33	paper	paper	NOUN
cblr-12479	636	34	’s	’s	PART
cblr-12479	636	35	functional	functional	ADJ
cblr-12479	636	36	comparative	comparative	ADJ
cblr-12479	636	37	analysis	analysis	NOUN
cblr-12479	636	38	of	of	ADP
cblr-12479	636	39	the	the	DET
cblr-12479	636	40	law	law	NOUN
cblr-12479	636	41	of	of	ADP
cblr-12479	636	42	contingent	contingent	ADJ
cblr-12479	636	43	control	control	NOUN
cblr-12479	636	44	offers	offer	VERB
cblr-12479	636	45	a	a	DET
cblr-12479	636	46	path	path	NOUN
cblr-12479	636	47	to	to	PART
cblr-12479	636	48	identify	identify	VERB
cblr-12479	636	49	corporate	corporate	ADJ
cblr-12479	636	50	law	law	NOUN
cblr-12479	636	51	rules	rule	NOUN
cblr-12479	636	52	that	that	PRON
cblr-12479	636	53	merit	merit	NOUN
cblr-12479	636	54	recalibration	recalibration	NOUN
cblr-12479	636	55	to	to	PART
cblr-12479	636	56	improve	improve	VERB
cblr-12479	636	57	founder	founder	NOUN
cblr-12479	636	58	-	-	PUNCT
cblr-12479	636	59	investor	investor	NOUN
cblr-12479	636	60	negotiations	negotiation	NOUN
cblr-12479	636	61	and	and	CCONJ
cblr-12479	636	62	expand	expand	VERB
cblr-12479	636	63	the	the	DET
cblr-12479	636	64	range	range	NOUN
cblr-12479	636	65	of	of	ADP
cblr-12479	636	66	companies	company	NOUN
cblr-12479	636	67	that	that	PRON
cblr-12479	636	68	can	can	AUX
cblr-12479	636	69	access	access	VERB
cblr-12479	636	70	vc	vc	PROPN
cblr-12479	636	71	finance	finance	NOUN
cblr-12479	636	72	.	.	PUNCT
cblr-12479	637	1	a	a	DET
cblr-12479	637	2	second	second	ADJ
cblr-12479	637	3	implication	implication	NOUN
cblr-12479	637	4	is	be	AUX
cblr-12479	637	5	that	that	SCONJ
cblr-12479	637	6	the	the	DET
cblr-12479	637	7	use	use	NOUN
cblr-12479	637	8	of	of	ADP
cblr-12479	637	9	shareholders	shareholder	NOUN
cblr-12479	637	10	’	'	PUNCT
cblr-12479	637	11	agreements	agreement	NOUN
cblr-12479	637	12	and	and	CCONJ
cblr-12479	637	13	similar	similar	ADJ
cblr-12479	637	14	contracts	contract	NOUN
cblr-12479	637	15	to	to	PART
cblr-12479	637	16	circumvent	circumvent	VERB
cblr-12479	637	17	legal	legal	ADJ
cblr-12479	637	18	protections	protection	NOUN
cblr-12479	637	19	against	against	ADP
cblr-12479	637	20	agency	agency	NOUN
cblr-12479	637	21	problems	problem	NOUN
cblr-12479	637	22	should	should	AUX
cblr-12479	637	23	be	be	AUX
cblr-12479	637	24	discouraged	discourage	VERB
cblr-12479	637	25	.	.	PUNCT
cblr-12479	638	1	one	one	NUM
cblr-12479	638	2	of	of	ADP
cblr-12479	638	3	the	the	DET
cblr-12479	638	4	most	most	ADV
cblr-12479	638	5	common	common	ADJ
cblr-12479	638	6	uses	use	NOUN
cblr-12479	638	7	of	of	ADP
cblr-12479	638	8	shareholders	shareholder	NOUN
cblr-12479	638	9	’	'	PUNCT
cblr-12479	638	10	agreements	agreement	NOUN
cblr-12479	638	11	is	be	AUX
cblr-12479	638	12	to	to	PART
cblr-12479	638	13	grant	grant	VERB
cblr-12479	638	14	board	board	NOUN
cblr-12479	638	15	representation	representation	NOUN
cblr-12479	638	16	rights	right	NOUN
cblr-12479	638	17	to	to	ADP
cblr-12479	638	18	investors	investor	NOUN
cblr-12479	638	19	,	,	PUNCT
cblr-12479	638	20	e.g.	e.g.	ADV
cblr-12479	638	21	,	,	PUNCT
cblr-12479	638	22	via	via	ADP
cblr-12479	638	23	a	a	DET
cblr-12479	638	24	contractual	contractual	ADJ
cblr-12479	638	25	obligation	obligation	NOUN
cblr-12479	638	26	to	to	PART
cblr-12479	638	27	vote	vote	VERB
cblr-12479	638	28	for	for	ADP
cblr-12479	638	29	investors	investor	NOUN
cblr-12479	638	30	’	'	PUNCT
cblr-12479	638	31	nominees.200	nominees.200	ADP
cblr-12479	638	32	these	these	DET
cblr-12479	638	33	provisions	provision	NOUN
cblr-12479	638	34	not	not	PART
cblr-12479	638	35	only	only	ADV
cblr-12479	638	36	enable	enable	VERB
cblr-12479	638	37	the	the	DET
cblr-12479	638	38	evasion	evasion	NOUN
cblr-12479	638	39	of	of	ADP
cblr-12479	638	40	board	board	NOUN
cblr-12479	638	41	election	election	NOUN
cblr-12479	638	42	rules	rule	NOUN
cblr-12479	638	43	,	,	PUNCT
cblr-12479	638	44	but	but	CCONJ
cblr-12479	638	45	may	may	AUX
cblr-12479	638	46	also	also	ADV
cblr-12479	638	47	disguise	disguise	VERB
cblr-12479	638	48	a	a	DET
cblr-12479	638	49	situation	situation	NOUN
cblr-12479	638	50	of	of	ADP
cblr-12479	638	51	control	control	NOUN
cblr-12479	638	52	,	,	PUNCT
cblr-12479	638	53	198	198	NUM
cblr-12479	638	54	see	see	NOUN
cblr-12479	638	55	pollman	pollman	NOUN
cblr-12479	638	56	,	,	PUNCT
cblr-12479	639	1	supra	supra	PROPN
cblr-12479	639	2	note	note	NOUN
cblr-12479	639	3	105	105	NUM
cblr-12479	639	4	(	(	PUNCT
cblr-12479	639	5	critically	critically	ADV
cblr-12479	639	6	discussing	discuss	VERB
cblr-12479	639	7	the	the	DET
cblr-12479	639	8	challenges	challenge	NOUN
cblr-12479	639	9	that	that	PRON
cblr-12479	639	10	have	have	AUX
cblr-12479	639	11	emerged	emerge	VERB
cblr-12479	639	12	in	in	ADP
cblr-12479	639	13	the	the	DET
cblr-12479	639	14	u.s	u.s	PROPN
cblr-12479	639	15	.	.	PROPN
cblr-12479	639	16	)	)	PUNCT
cblr-12479	639	17	;	;	PUNCT
cblr-12479	639	18	bartlett	bartlett	PROPN
cblr-12479	639	19	,	,	PUNCT
cblr-12479	639	20	supra	supra	PROPN
cblr-12479	639	21	note	note	PROPN
cblr-12479	639	22	163	163	NUM
cblr-12479	639	23	(	(	PUNCT
cblr-12479	639	24	highlighting	highlight	VERB
cblr-12479	639	25	that	that	DET
cblr-12479	639	26	agency	agency	NOUN
cblr-12479	639	27	problems	problem	NOUN
cblr-12479	639	28	in	in	ADP
cblr-12479	639	29	vc	vc	PROPN
cblr-12479	639	30	-	-	PUNCT
cblr-12479	639	31	backed	back	VERB
cblr-12479	639	32	companies	company	NOUN
cblr-12479	639	33	are	be	AUX
cblr-12479	639	34	dynamic	dynamic	ADJ
cblr-12479	639	35	and	and	CCONJ
cblr-12479	639	36	require	require	VERB
cblr-12479	639	37	new	new	ADJ
cblr-12479	639	38	analytical	analytical	ADJ
cblr-12479	639	39	frameworks	framework	NOUN
cblr-12479	639	40	—	—	PUNCT
cblr-12479	639	41	e.g.	e.g.	ADV
cblr-12479	639	42	,	,	PUNCT
cblr-12479	639	43	to	to	PART
cblr-12479	639	44	account	account	VERB
cblr-12479	639	45	for	for	ADP
cblr-12479	639	46	the	the	DET
cblr-12479	639	47	risks	risk	NOUN
cblr-12479	639	48	that	that	PRON
cblr-12479	639	49	parties	party	NOUN
cblr-12479	639	50	assume	assume	VERB
cblr-12479	639	51	or	or	CCONJ
cblr-12479	639	52	attempt	attempt	VERB
cblr-12479	639	53	to	to	PART
cblr-12479	639	54	control	control	VERB
cblr-12479	639	55	at	at	ADP
cblr-12479	639	56	different	different	ADJ
cblr-12479	639	57	points	point	NOUN
cblr-12479	639	58	in	in	ADP
cblr-12479	639	59	time	time	NOUN
cblr-12479	639	60	.	.	PUNCT
cblr-12479	639	61	)	)	PUNCT
cblr-12479	639	62	.	.	PUNCT
cblr-12479	640	1	199	199	NUM
cblr-12479	640	2	indeed	indeed	ADV
cblr-12479	640	3	,	,	PUNCT
cblr-12479	640	4	a	a	DET
cblr-12479	640	5	contested	contested	ADJ
cblr-12479	640	6	issue	issue	NOUN
cblr-12479	640	7	.	.	PUNCT
cblr-12479	641	1	see	see	VERB
cblr-12479	641	2	gelter	gelter	NOUN
cblr-12479	641	3	&	&	CCONJ
cblr-12479	641	4	helleringer	helleringer	PROPN
cblr-12479	641	5	,	,	PUNCT
cblr-12479	641	6	supra	supra	PROPN
cblr-12479	641	7	note	note	PROPN
cblr-12479	641	8	102	102	NUM
cblr-12479	641	9	;	;	PUNCT
cblr-12479	641	10	sepe	sepe	NOUN
cblr-12479	641	11	,	,	PUNCT
cblr-12479	641	12	supra	supra	PROPN
cblr-12479	641	13	note	note	NOUN
cblr-12479	641	14	105	105	NUM
cblr-12479	641	15	.	.	NOUN
cblr-12479	642	1	200	200	NUM
cblr-12479	642	2	see	see	VERB
cblr-12479	642	3	supra	supra	PROPN
cblr-12479	642	4	part	part	PROPN
cblr-12479	642	5	v.	v.	ADP
cblr-12479	642	6	726	726	NUM
cblr-12479	642	7	columbia	columbia	PROPN
cblr-12479	642	8	business	business	NOUN
cblr-12479	642	9	law	law	PROPN
cblr-12479	642	10	review	review	NOUN
cblr-12479	642	11	[	[	X
cblr-12479	642	12	vol	vol	NOUN
cblr-12479	642	13	.	.	PUNCT
cblr-12479	642	14	2023	2023	NUM
cblr-12479	642	15	disenfranchising	disenfranchise	VERB
cblr-12479	642	16	shareholders	shareholder	NOUN
cblr-12479	642	17	that	that	PRON
cblr-12479	642	18	would	would	AUX
cblr-12479	642	19	be	be	AUX
cblr-12479	642	20	otherwise	otherwise	ADV
cblr-12479	642	21	protected	protect	VERB
cblr-12479	642	22	by	by	ADP
cblr-12479	642	23	controller	controller	NOUN
cblr-12479	642	24	duties.201	duties.201	NOUN
cblr-12479	642	25	furthermore	furthermore	ADV
cblr-12479	642	26	,	,	PUNCT
cblr-12479	642	27	these	these	DET
cblr-12479	642	28	provisions	provision	NOUN
cblr-12479	642	29	may	may	AUX
cblr-12479	642	30	not	not	PART
cblr-12479	642	31	be	be	AUX
cblr-12479	642	32	as	as	ADV
cblr-12479	642	33	useful	useful	ADJ
cblr-12479	642	34	when	when	SCONJ
cblr-12479	642	35	it	it	PRON
cblr-12479	642	36	matters	matter	VERB
cblr-12479	642	37	most	most	ADV
cblr-12479	642	38	(	(	PUNCT
cblr-12479	642	39	e.g.	e.g.	ADV
cblr-12479	642	40	,	,	PUNCT
cblr-12479	642	41	exits	exit	NOUN
cblr-12479	642	42	)	)	PUNCT
cblr-12479	642	43	,	,	PUNCT
cblr-12479	642	44	given	give	VERB
cblr-12479	642	45	that	that	SCONJ
cblr-12479	642	46	in	in	ADP
cblr-12479	642	47	those	those	DET
cblr-12479	642	48	situations	situation	NOUN
cblr-12479	642	49	courts	court	NOUN
cblr-12479	642	50	would	would	AUX
cblr-12479	642	51	likely	likely	ADV
cblr-12479	642	52	uphold	uphold	VERB
cblr-12479	642	53	directors	director	NOUN
cblr-12479	642	54	’	'	PUNCT
cblr-12479	642	55	duties	duty	NOUN
cblr-12479	642	56	to	to	ADP
cblr-12479	642	57	the	the	DET
cblr-12479	642	58	company	company	NOUN
cblr-12479	642	59	over	over	ADP
cblr-12479	642	60	duties	duty	NOUN
cblr-12479	642	61	derived	derive	VERB
cblr-12479	642	62	from	from	ADP
cblr-12479	642	63	contracts	contract	NOUN
cblr-12479	642	64	,	,	PUNCT
cblr-12479	642	65	if	if	SCONJ
cblr-12479	642	66	those	those	PRON
cblr-12479	642	67	are	be	AUX
cblr-12479	642	68	in	in	ADP
cblr-12479	642	69	conflict.202	conflict.202	PROPN
cblr-12479	642	70	a	a	DET
cblr-12479	642	71	clear	clear	ADJ
cblr-12479	642	72	legal	legal	ADJ
cblr-12479	642	73	framework	framework	NOUN
cblr-12479	642	74	determining	determine	VERB
cblr-12479	642	75	the	the	DET
cblr-12479	642	76	election	election	NOUN
cblr-12479	642	77	and	and	CCONJ
cblr-12479	642	78	duties	duty	NOUN
cblr-12479	642	79	of	of	ADP
cblr-12479	642	80	constituency	constituency	NOUN
cblr-12479	642	81	directors	director	NOUN
cblr-12479	642	82	would	would	AUX
cblr-12479	642	83	discourage	discourage	VERB
cblr-12479	642	84	this	this	DET
cblr-12479	642	85	practice	practice	NOUN
cblr-12479	642	86	and	and	CCONJ
cblr-12479	642	87	enhance	enhance	VERB
cblr-12479	642	88	transparency	transparency	NOUN
cblr-12479	642	89	in	in	ADP
cblr-12479	642	90	startups	startup	NOUN
cblr-12479	642	91	’	'	PUNCT
cblr-12479	642	92	governance	governance	NOUN
cblr-12479	642	93	.	.	PUNCT
cblr-12479	643	1	shareholders	shareholder	NOUN
cblr-12479	643	2	’	'	PUNCT
cblr-12479	643	3	agreements	agreement	NOUN
cblr-12479	643	4	are	be	AUX
cblr-12479	643	5	also	also	ADV
cblr-12479	643	6	used	use	VERB
cblr-12479	643	7	to	to	PART
cblr-12479	643	8	grant	grant	VERB
cblr-12479	643	9	veto	veto	NOUN
cblr-12479	643	10	rights	right	NOUN
cblr-12479	643	11	and	and	CCONJ
cblr-12479	643	12	to	to	PART
cblr-12479	643	13	waive	waive	VERB
cblr-12479	643	14	monitoring	monitoring	NOUN
cblr-12479	643	15	and	and	CCONJ
cblr-12479	643	16	litigation	litigation	NOUN
cblr-12479	643	17	rights	right	NOUN
cblr-12479	643	18	.	.	PUNCT
cblr-12479	644	1	to	to	ADP
cblr-12479	644	2	the	the	DET
cblr-12479	644	3	extent	extent	NOUN
cblr-12479	644	4	that	that	SCONJ
cblr-12479	644	5	these	these	DET
cblr-12479	644	6	arrangements	arrangement	NOUN
cblr-12479	644	7	are	be	AUX
cblr-12479	644	8	tantamount	tantamount	ADJ
cblr-12479	644	9	to	to	ADP
cblr-12479	644	10	contracting	contract	VERB
cblr-12479	644	11	out	out	ADP
cblr-12479	644	12	of	of	ADP
cblr-12479	644	13	corporate	corporate	ADJ
cblr-12479	644	14	law	law	NOUN
cblr-12479	644	15	institutions	institution	NOUN
cblr-12479	644	16	aimed	aim	VERB
cblr-12479	644	17	at	at	ADP
cblr-12479	644	18	alleviating	alleviate	VERB
cblr-12479	644	19	agency	agency	NOUN
cblr-12479	644	20	problems	problem	NOUN
cblr-12479	644	21	(	(	PUNCT
cblr-12479	644	22	e.g.	e.g.	ADV
cblr-12479	644	23	,	,	PUNCT
cblr-12479	644	24	qualified	qualified	ADJ
cblr-12479	644	25	approval	approval	NOUN
cblr-12479	644	26	of	of	ADP
cblr-12479	644	27	fundamental	fundamental	ADJ
cblr-12479	644	28	transactions	transaction	NOUN
cblr-12479	644	29	,	,	PUNCT
cblr-12479	644	30	appraisal	appraisal	NOUN
cblr-12479	644	31	rights	right	NOUN
cblr-12479	644	32	)	)	PUNCT
cblr-12479	644	33	and	and	CCONJ
cblr-12479	644	34	that	that	SCONJ
cblr-12479	644	35	they	they	PRON
cblr-12479	644	36	risk	risk	VERB
cblr-12479	644	37	eroding	erode	VERB
cblr-12479	644	38	parties	party	NOUN
cblr-12479	644	39	’	'	PUNCT
cblr-12479	644	40	trust	trust	NOUN
cblr-12479	644	41	prematurely,203	prematurely,203	ADP
cblr-12479	644	42	they	they	PRON
cblr-12479	644	43	should	should	AUX
cblr-12479	644	44	be	be	AUX
cblr-12479	644	45	discouraged	discourage	VERB
cblr-12479	644	46	by	by	ADP
cblr-12479	644	47	expressly	expressly	ADV
cblr-12479	644	48	limiting	limit	VERB
cblr-12479	644	49	the	the	DET
cblr-12479	644	50	enforceability	enforceability	NOUN
cblr-12479	644	51	of	of	ADP
cblr-12479	644	52	such	such	ADJ
cblr-12479	644	53	clauses	clause	NOUN
cblr-12479	644	54	.	.	PUNCT
cblr-12479	645	1	vii	vii	PROPN
cblr-12479	645	2	.	.	PROPN
cblr-12479	645	3	conclusion	conclusion	NOUN
cblr-12479	645	4	this	this	DET
cblr-12479	645	5	paper	paper	NOUN
cblr-12479	645	6	showed	show	VERB
cblr-12479	645	7	that	that	SCONJ
cblr-12479	645	8	the	the	DET
cblr-12479	645	9	range	range	NOUN
cblr-12479	645	10	of	of	ADP
cblr-12479	645	11	bargains	bargain	NOUN
cblr-12479	645	12	on	on	ADP
cblr-12479	645	13	contingent	contingent	ADJ
cblr-12479	645	14	control	control	NOUN
cblr-12479	645	15	between	between	ADP
cblr-12479	645	16	entrepreneurs	entrepreneur	NOUN
cblr-12479	645	17	and	and	CCONJ
cblr-12479	645	18	investors	investor	NOUN
cblr-12479	645	19	is	be	AUX
cblr-12479	645	20	determined	determine	VERB
cblr-12479	645	21	by	by	ADP
cblr-12479	645	22	corporate	corporate	ADJ
cblr-12479	645	23	law	law	NOUN
cblr-12479	645	24	rules	rule	NOUN
cblr-12479	645	25	governing	govern	VERB
cblr-12479	645	26	the	the	DET
cblr-12479	645	27	allocation	allocation	NOUN
cblr-12479	645	28	of	of	ADP
cblr-12479	645	29	board	board	NOUN
cblr-12479	645	30	representation	representation	NOUN
cblr-12479	645	31	and	and	CCONJ
cblr-12479	645	32	voting	voting	NOUN
cblr-12479	645	33	rights	right	NOUN
cblr-12479	645	34	in	in	ADP
cblr-12479	645	35	non	non	ADJ
cblr-12479	645	36	-	-	ADJ
cblr-12479	645	37	listed	listed	ADJ
cblr-12479	645	38	companies	company	NOUN
cblr-12479	645	39	.	.	PUNCT
cblr-12479	646	1	these	these	DET
cblr-12479	646	2	dynamic	dynamic	ADJ
cblr-12479	646	3	rules	rule	NOUN
cblr-12479	646	4	,	,	PUNCT
cblr-12479	646	5	which	which	PRON
cblr-12479	646	6	the	the	DET
cblr-12479	646	7	legal	legal	ADJ
cblr-12479	646	8	and	and	CCONJ
cblr-12479	646	9	financial	financial	ADJ
cblr-12479	646	10	contracting	contracting	NOUN
cblr-12479	646	11	literature	literature	NOUN
cblr-12479	646	12	has	have	AUX
cblr-12479	646	13	overlooked	overlook	VERB
cblr-12479	646	14	,	,	PUNCT
cblr-12479	646	15	contribute	contribute	VERB
cblr-12479	646	16	to	to	ADP
cblr-12479	646	17	explaining	explain	VERB
cblr-12479	646	18	differences	difference	NOUN
cblr-12479	646	19	in	in	ADP
cblr-12479	646	20	security	security	NOUN
cblr-12479	646	21	design	design	NOUN
cblr-12479	646	22	and	and	CCONJ
cblr-12479	646	23	capital	capital	NOUN
cblr-12479	646	24	structures	structure	NOUN
cblr-12479	646	25	observed	observe	VERB
cblr-12479	646	26	across	across	ADP
cblr-12479	646	27	countries	country	NOUN
cblr-12479	646	28	and	and	CCONJ
cblr-12479	646	29	time	time	NOUN
cblr-12479	646	30	.	.	PUNCT
cblr-12479	647	1	they	they	PRON
cblr-12479	647	2	also	also	ADV
cblr-12479	647	3	explain	explain	VERB
cblr-12479	647	4	the	the	DET
cblr-12479	647	5	increasing	increase	VERB
cblr-12479	647	6	reliance	reliance	NOUN
cblr-12479	647	7	on	on	ADP
cblr-12479	647	8	shareholders	shareholder	NOUN
cblr-12479	647	9	’	'	PUNCT
cblr-12479	647	10	agreements	agreement	NOUN
cblr-12479	647	11	to	to	PART
cblr-12479	647	12	structure	structure	VERB
cblr-12479	647	13	vc	vc	PROPN
cblr-12479	647	14	-	-	PUNCT
cblr-12479	647	15	backed	back	VERB
cblr-12479	647	16	companies	company	NOUN
cblr-12479	647	17	’	'	PUNCT
cblr-12479	647	18	governance	governance	NOUN
cblr-12479	647	19	,	,	PUNCT
cblr-12479	647	20	a	a	DET
cblr-12479	647	21	practice	practice	NOUN
cblr-12479	647	22	that	that	PRON
cblr-12479	647	23	weakens	weaken	VERB
cblr-12479	647	24	parties	party	NOUN
cblr-12479	647	25	’	’	PART
cblr-12479	647	26	trust	trust	NOUN
cblr-12479	647	27	and	and	CCONJ
cblr-12479	647	28	legal	legal	ADJ
cblr-12479	647	29	protection	protection	NOUN
cblr-12479	647	30	,	,	PUNCT
cblr-12479	647	31	and	and	CCONJ
cblr-12479	647	32	erodes	erode	VERB
cblr-12479	647	33	corporate	corporate	ADJ
cblr-12479	647	34	law	law	NOUN
cblr-12479	647	35	safeguards	safeguard	NOUN
cblr-12479	647	36	against	against	ADP
cblr-12479	647	37	agency	agency	NOUN
cblr-12479	647	38	problems	problem	NOUN
cblr-12479	647	39	that	that	PRON
cblr-12479	647	40	are	be	AUX
cblr-12479	647	41	crucial	crucial	ADJ
cblr-12479	647	42	for	for	ADP
cblr-12479	647	43	developing	develop	VERB
cblr-12479	647	44	vc	vc	PROPN
cblr-12479	647	45	markets	market	NOUN
cblr-12479	647	46	.	.	PUNCT
cblr-12479	648	1	by	by	ADP
cblr-12479	648	2	facilitating	facilitate	VERB
cblr-12479	648	3	the	the	DET
cblr-12479	648	4	structure	structure	NOUN
cblr-12479	648	5	of	of	ADP
cblr-12479	648	6	contingent	contingent	ADJ
cblr-12479	648	7	control	control	NOUN
cblr-12479	648	8	through	through	ADP
cblr-12479	648	9	security	security	NOUN
cblr-12479	648	10	design	design	NOUN
cblr-12479	648	11	,	,	PUNCT
cblr-12479	648	12	corporate	corporate	ADJ
cblr-12479	648	13	law	law	NOUN
cblr-12479	648	14	can	can	AUX
cblr-12479	648	15	discourage	discourage	VERB
cblr-12479	648	16	the	the	DET
cblr-12479	648	17	over	over	ADP
cblr-12479	648	18	201	201	NUM
cblr-12479	648	19	see	see	NOUN
cblr-12479	648	20	supra	supra	PROPN
cblr-12479	648	21	section	section	PROPN
cblr-12479	648	22	v.b	v.b	PROPN
cblr-12479	648	23	.	.	PROPN
cblr-12479	649	1	202	202	NUM
cblr-12479	649	2	see	see	VERB
cblr-12479	649	3	supra	supra	PROPN
cblr-12479	649	4	section	section	PROPN
cblr-12479	649	5	v.b	v.b	PROPN
cblr-12479	649	6	.	.	PROPN
cblr-12479	649	7	203	203	NUM
cblr-12479	649	8	see	see	VERB
cblr-12479	649	9	supra	supra	PROPN
cblr-12479	649	10	section	section	PROPN
cblr-12479	650	1	v.a	v.a	PROPN
cblr-12479	650	2	.	.	PROPN
cblr-12479	651	1	no	no	INTJ
cblr-12479	651	2	.	.	NOUN
cblr-12479	652	1	2	2	NUM
cblr-12479	652	2	]	]	PUNCT
cblr-12479	652	3	the	the	DET
cblr-12479	652	4	law	law	NOUN
cblr-12479	652	5	of	of	ADP
cblr-12479	652	6	contingent	contingent	NOUN
cblr-12479	652	7	control	control	VERB
cblr-12479	652	8	727	727	NUM
cblr-12479	652	9	reliance	reliance	NOUN
cblr-12479	652	10	on	on	ADP
cblr-12479	652	11	shareholders	shareholder	NOUN
cblr-12479	652	12	’	'	PUNCT
cblr-12479	652	13	agreements	agreement	NOUN
cblr-12479	652	14	and	and	CCONJ
cblr-12479	652	15	expand	expand	VERB
cblr-12479	652	16	the	the	DET
cblr-12479	652	17	range	range	NOUN
cblr-12479	652	18	of	of	ADP
cblr-12479	652	19	founder	founder	NOUN
cblr-12479	652	20	-	-	PUNCT
cblr-12479	652	21	investor	investor	NOUN
cblr-12479	652	22	bargains	bargain	NOUN
cblr-12479	652	23	—	—	PUNCT
cblr-12479	652	24	and	and	CCONJ
cblr-12479	652	25	,	,	PUNCT
cblr-12479	652	26	in	in	ADP
cblr-12479	652	27	turn	turn	NOUN
cblr-12479	652	28	,	,	PUNCT
cblr-12479	652	29	increase	increase	VERB
cblr-12479	652	30	the	the	DET
cblr-12479	652	31	number	number	NOUN
cblr-12479	652	32	of	of	ADP
cblr-12479	652	33	startups	startup	NOUN
cblr-12479	652	34	that	that	PRON
cblr-12479	652	35	can	can	AUX
cblr-12479	652	36	access	access	VERB
cblr-12479	652	37	vc	vc	PROPN
cblr-12479	652	38	.	.	PROPN
cblr-12479	652	39	728	728	NUM
cblr-12479	652	40	columbia	columbia	PROPN
cblr-12479	652	41	business	business	NOUN
cblr-12479	652	42	law	law	PROPN
cblr-12479	652	43	review	review	NOUN
cblr-12479	652	44	[	[	X
cblr-12479	652	45	vol	vol	NOUN
cblr-12479	652	46	.	.	PUNCT
cblr-12479	652	47	2023	2023	NUM