id	sid	tid	token	lemma	pos
fbem-8778	1	1	microsoft	microsoft	PROPN
fbem-8778	1	2	word	word	NOUN
fbem-8778	1	3	61-fbem3240排板.docx	61-fbem3240排板.docx	NUM
fbem-8778	1	4	frontiers	frontier	NOUN
fbem-8778	1	5	in	in	ADP
fbem-8778	1	6	business	business	NOUN
fbem-8778	1	7	,	,	PUNCT
fbem-8778	1	8	economics	economic	NOUN
fbem-8778	1	9	and	and	CCONJ
fbem-8778	1	10	management	management	NOUN
fbem-8778	1	11	issn	issn	PROPN
fbem-8778	1	12	:	:	PUNCT
fbem-8778	1	13	2766	2766	NUM
fbem-8778	1	14	-	-	PUNCT
fbem-8778	1	15	824x	824x	NUM
fbem-8778	1	16	|	|	ADJ
fbem-8778	1	17	vol	vol	NOUN
fbem-8778	1	18	.	.	PROPN
fbem-8778	2	1	9	9	NUM
fbem-8778	2	2	,	,	PUNCT
fbem-8778	2	3	no	no	INTJ
fbem-8778	2	4	.	.	NOUN
fbem-8778	2	5	1	1	NUM
fbem-8778	2	6	,	,	PUNCT
fbem-8778	2	7	2023	2023	NUM
fbem-8778	2	8	347	347	NUM
fbem-8778	2	9	research	research	NOUN
fbem-8778	2	10	on	on	ADP
fbem-8778	2	11	investors	investor	NOUN
fbem-8778	2	12	'	'	PART
fbem-8778	2	13	right	right	NOUN
fbem-8778	2	14	of	of	ADP
fbem-8778	2	15	first	first	ADJ
fbem-8778	2	16	refusal	refusal	NOUN
fbem-8778	2	17	in	in	ADP
fbem-8778	2	18	private	private	ADJ
fbem-8778	2	19	equity	equity	NOUN
fbem-8778	2	20	investment	investment	NOUN
fbem-8778	2	21	xiaoya	xiaoya	PROPN
fbem-8778	2	22	fan1	fan1	PROPN
fbem-8778	2	23	,	,	PUNCT
fbem-8778	2	24	a	a	DET
fbem-8778	2	25	,	,	PUNCT
fbem-8778	2	26	ziyan	ziyan	NOUN
fbem-8778	2	27	kong1	kong1	PROPN
fbem-8778	2	28	,	,	PUNCT
fbem-8778	2	29	shini	shini	PROPN
fbem-8778	2	30	sun1	sun1	PROPN
fbem-8778	2	31	,	,	PUNCT
fbem-8778	2	32	ziyi	ziyi	PROPN
fbem-8778	2	33	zhang1	zhang1	PROPN
fbem-8778	2	34	,	,	PUNCT
fbem-8778	2	35	deyu	deyu	PROPN
fbem-8778	2	36	li2	li2	PROPN
fbem-8778	2	37	,	,	PUNCT
fbem-8778	2	38	*	*	PUNCT
fbem-8778	3	1	1school	1school	NUM
fbem-8778	3	2	of	of	ADP
fbem-8778	3	3	law	law	NOUN
fbem-8778	3	4	,	,	PUNCT
fbem-8778	3	5	anhui	anhui	PROPN
fbem-8778	3	6	university	university	PROPN
fbem-8778	3	7	of	of	ADP
fbem-8778	3	8	finance	finance	NOUN
fbem-8778	3	9	and	and	CCONJ
fbem-8778	3	10	economics	economic	NOUN
fbem-8778	3	11	,	,	PUNCT
fbem-8778	3	12	bengbu	bengbu	NOUN
fbem-8778	3	13	,	,	PUNCT
fbem-8778	3	14	anhui	anhui	PROPN
fbem-8778	3	15	,	,	PUNCT
fbem-8778	3	16	china	china	PROPN
fbem-8778	3	17	2school	2school	NUM
fbem-8778	3	18	of	of	ADP
fbem-8778	3	19	economics	economic	NOUN
fbem-8778	3	20	,	,	PUNCT
fbem-8778	3	21	anhui	anhui	PROPN
fbem-8778	3	22	university	university	PROPN
fbem-8778	3	23	of	of	ADP
fbem-8778	3	24	finance	finance	NOUN
fbem-8778	3	25	and	and	CCONJ
fbem-8778	3	26	economics	economic	NOUN
fbem-8778	3	27	,	,	PUNCT
fbem-8778	3	28	bengbu	bengbu	NOUN
fbem-8778	3	29	,	,	PUNCT
fbem-8778	3	30	anhui	anhui	PROPN
fbem-8778	3	31	,	,	PUNCT
fbem-8778	3	32	china	china	PROPN
fbem-8778	3	33	a20203913@aufe.edu.cn	a20203913@aufe.edu.cn	PROPN
fbem-8778	3	34	,	,	PUNCT
fbem-8778	3	35	*	*	PUNCT
fbem-8778	3	36	corresponding	correspond	VERB
fbem-8778	3	37	author	author	NOUN
fbem-8778	3	38	:	:	PUNCT
fbem-8778	3	39	ldy0048@163.com	ldy0048@163.com	X
fbem-8778	4	1	abstract	abstract	NOUN
fbem-8778	4	2	:	:	PUNCT
fbem-8778	4	3	the	the	DET
fbem-8778	4	4	right	right	NOUN
fbem-8778	4	5	of	of	ADP
fbem-8778	4	6	first	first	ADJ
fbem-8778	4	7	refusal	refusal	NOUN
fbem-8778	4	8	clause	clause	NOUN
fbem-8778	4	9	for	for	ADP
fbem-8778	4	10	investors	investor	NOUN
fbem-8778	4	11	in	in	ADP
fbem-8778	4	12	private	private	ADJ
fbem-8778	4	13	equity	equity	NOUN
fbem-8778	4	14	investment	investment	NOUN
fbem-8778	4	15	is	be	AUX
fbem-8778	4	16	one	one	NUM
fbem-8778	4	17	of	of	ADP
fbem-8778	4	18	the	the	DET
fbem-8778	4	19	fastest	fast	ADJ
fbem-8778	4	20	terms	term	NOUN
fbem-8778	4	21	to	to	PART
fbem-8778	4	22	reach	reach	VERB
fbem-8778	4	23	agreement	agreement	NOUN
fbem-8778	4	24	between	between	ADP
fbem-8778	4	25	investors	investor	NOUN
fbem-8778	4	26	and	and	CCONJ
fbem-8778	4	27	the	the	DET
fbem-8778	4	28	founding	found	VERB
fbem-8778	4	29	team	team	NOUN
fbem-8778	4	30	in	in	ADP
fbem-8778	4	31	investment	investment	NOUN
fbem-8778	4	32	agreements	agreement	NOUN
fbem-8778	4	33	.	.	PUNCT
fbem-8778	5	1	however	however	ADV
fbem-8778	5	2	,	,	PUNCT
fbem-8778	5	3	due	due	ADP
fbem-8778	5	4	to	to	ADP
fbem-8778	5	5	the	the	DET
fbem-8778	5	6	complexity	complexity	NOUN
fbem-8778	5	7	of	of	ADP
fbem-8778	5	8	transactions	transaction	NOUN
fbem-8778	5	9	in	in	ADP
fbem-8778	5	10	practice	practice	NOUN
fbem-8778	5	11	and	and	CCONJ
fbem-8778	5	12	the	the	DET
fbem-8778	5	13	imperfect	imperfect	ADJ
fbem-8778	5	14	relevant	relevant	ADJ
fbem-8778	5	15	regulations	regulation	NOUN
fbem-8778	5	16	,	,	PUNCT
fbem-8778	5	17	various	various	ADJ
fbem-8778	5	18	conflicts	conflict	NOUN
fbem-8778	5	19	and	and	CCONJ
fbem-8778	5	20	disputes	dispute	NOUN
fbem-8778	5	21	such	such	ADJ
fbem-8778	5	22	as	as	ADP
fbem-8778	5	23	shareholder	shareholder	NOUN
fbem-8778	5	24	transfer	transfer	NOUN
fbem-8778	5	25	of	of	ADP
fbem-8778	5	26	equity	equity	NOUN
fbem-8778	5	27	and	and	CCONJ
fbem-8778	5	28	other	other	ADJ
fbem-8778	5	29	shareholders	shareholder	NOUN
fbem-8778	5	30	claiming	claim	VERB
fbem-8778	5	31	the	the	DET
fbem-8778	5	32	right	right	NOUN
fbem-8778	5	33	of	of	ADP
fbem-8778	5	34	first	first	ADJ
fbem-8778	5	35	refusal	refusal	NOUN
fbem-8778	5	36	often	often	ADV
fbem-8778	5	37	occur	occur	VERB
fbem-8778	5	38	in	in	ADP
fbem-8778	5	39	practice	practice	NOUN
fbem-8778	5	40	,	,	PUNCT
fbem-8778	5	41	which	which	PRON
fbem-8778	5	42	not	not	PART
fbem-8778	5	43	only	only	ADV
fbem-8778	5	44	affects	affect	VERB
fbem-8778	5	45	the	the	DET
fbem-8778	5	46	internal	internal	ADJ
fbem-8778	5	47	stability	stability	NOUN
fbem-8778	5	48	of	of	ADP
fbem-8778	5	49	the	the	DET
fbem-8778	5	50	company	company	NOUN
fbem-8778	5	51	but	but	CCONJ
fbem-8778	5	52	also	also	ADV
fbem-8778	5	53	affects	affect	VERB
fbem-8778	5	54	the	the	DET
fbem-8778	5	55	interests	interest	NOUN
fbem-8778	5	56	of	of	ADP
fbem-8778	5	57	third	third	ADJ
fbem-8778	5	58	parties	party	NOUN
fbem-8778	5	59	.	.	PUNCT
fbem-8778	6	1	therefore	therefore	ADV
fbem-8778	6	2	,	,	PUNCT
fbem-8778	6	3	this	this	DET
fbem-8778	6	4	article	article	NOUN
fbem-8778	6	5	provides	provide	VERB
fbem-8778	6	6	a	a	DET
fbem-8778	6	7	deep	deep	ADJ
fbem-8778	6	8	analysis	analysis	NOUN
fbem-8778	6	9	of	of	ADP
fbem-8778	6	10	the	the	DET
fbem-8778	6	11	right	right	NOUN
fbem-8778	6	12	of	of	ADP
fbem-8778	6	13	first	first	ADJ
fbem-8778	6	14	refusal	refusal	NOUN
fbem-8778	6	15	through	through	ADP
fbem-8778	6	16	its	its	PRON
fbem-8778	6	17	background	background	NOUN
fbem-8778	6	18	and	and	CCONJ
fbem-8778	6	19	practical	practical	ADJ
fbem-8778	6	20	value	value	NOUN
fbem-8778	6	21	,	,	PUNCT
fbem-8778	6	22	sorts	sort	VERB
fbem-8778	6	23	out	out	ADV
fbem-8778	6	24	and	and	CCONJ
fbem-8778	6	25	analyzes	analyze	VERB
fbem-8778	6	26	the	the	DET
fbem-8778	6	27	key	key	ADJ
fbem-8778	6	28	points	point	NOUN
fbem-8778	6	29	that	that	PRON
fbem-8778	6	30	may	may	AUX
fbem-8778	6	31	be	be	AUX
fbem-8778	6	32	involved	involve	VERB
fbem-8778	6	33	in	in	ADP
fbem-8778	6	34	the	the	DET
fbem-8778	6	35	exercise	exercise	NOUN
fbem-8778	6	36	of	of	ADP
fbem-8778	6	37	this	this	DET
fbem-8778	6	38	clause	clause	NOUN
fbem-8778	6	39	,	,	PUNCT
fbem-8778	6	40	and	and	CCONJ
fbem-8778	6	41	puts	put	VERB
fbem-8778	6	42	forward	forward	ADV
fbem-8778	6	43	relevant	relevant	ADJ
fbem-8778	6	44	suggestions	suggestion	NOUN
fbem-8778	6	45	for	for	ADP
fbem-8778	6	46	the	the	DET
fbem-8778	6	47	improvement	improvement	NOUN
fbem-8778	6	48	of	of	ADP
fbem-8778	6	49	the	the	DET
fbem-8778	6	50	right	right	NOUN
fbem-8778	6	51	of	of	ADP
fbem-8778	6	52	first	first	ADJ
fbem-8778	6	53	refusal	refusal	NOUN
fbem-8778	6	54	.	.	PUNCT
fbem-8778	7	1	this	this	PRON
fbem-8778	7	2	has	have	VERB
fbem-8778	7	3	important	important	ADJ
fbem-8778	7	4	practical	practical	ADJ
fbem-8778	7	5	significance	significance	NOUN
fbem-8778	7	6	for	for	SCONJ
fbem-8778	7	7	both	both	DET
fbem-8778	7	8	investors	investor	NOUN
fbem-8778	7	9	to	to	PART
fbem-8778	7	10	better	well	ADV
fbem-8778	7	11	protect	protect	VERB
fbem-8778	7	12	their	their	PRON
fbem-8778	7	13	own	own	ADJ
fbem-8778	7	14	rights	right	NOUN
fbem-8778	7	15	and	and	CCONJ
fbem-8778	7	16	interests	interest	NOUN
fbem-8778	7	17	in	in	ADP
fbem-8778	7	18	practice	practice	NOUN
fbem-8778	7	19	.	.	PUNCT
fbem-8778	8	1	keywords	keyword	NOUN
fbem-8778	8	2	:	:	PUNCT
fbem-8778	8	3	investment	investment	NOUN
fbem-8778	8	4	,	,	PUNCT
fbem-8778	8	5	shareholde	shareholde	ADJ
fbem-8778	8	6	,	,	PUNCT
fbem-8778	8	7	right	right	ADJ
fbem-8778	8	8	of	of	ADP
fbem-8778	8	9	first	first	ADJ
fbem-8778	8	10	refusal	refusal	NOUN
fbem-8778	8	11	.	.	PUNCT
fbem-8778	9	1	1	1	X
fbem-8778	9	2	.	.	X
fbem-8778	9	3	introduction	introduction	NOUN
fbem-8778	9	4	as	as	SCONJ
fbem-8778	9	5	the	the	DET
fbem-8778	9	6	chinese	chinese	ADJ
fbem-8778	9	7	economy	economy	NOUN
fbem-8778	9	8	enters	enter	VERB
fbem-8778	9	9	a	a	DET
fbem-8778	9	10	new	new	ADJ
fbem-8778	9	11	stage	stage	NOUN
fbem-8778	9	12	,	,	PUNCT
fbem-8778	9	13	the	the	DET
fbem-8778	9	14	close	close	ADJ
fbem-8778	9	15	combination	combination	NOUN
fbem-8778	9	16	of	of	ADP
fbem-8778	9	17	direct	direct	ADJ
fbem-8778	9	18	financing	financing	NOUN
fbem-8778	9	19	and	and	CCONJ
fbem-8778	9	20	scientific	scientific	ADJ
fbem-8778	9	21	and	and	CCONJ
fbem-8778	9	22	technological	technological	ADJ
fbem-8778	9	23	innovation	innovation	NOUN
fbem-8778	9	24	attributes	attribute	NOUN
fbem-8778	9	25	has	have	AUX
fbem-8778	9	26	become	become	VERB
fbem-8778	9	27	a	a	DET
fbem-8778	9	28	new	new	ADJ
fbem-8778	9	29	driving	driving	NOUN
fbem-8778	9	30	model	model	NOUN
fbem-8778	9	31	for	for	ADP
fbem-8778	9	32	current	current	ADJ
fbem-8778	9	33	economic	economic	ADJ
fbem-8778	9	34	development	development	NOUN
fbem-8778	9	35	.	.	PUNCT
fbem-8778	10	1	private	private	ADJ
fbem-8778	10	2	equity	equity	NOUN
fbem-8778	10	3	investment	investment	NOUN
fbem-8778	10	4	funds	fund	NOUN
fbem-8778	10	5	,	,	PUNCT
fbem-8778	10	6	as	as	ADP
fbem-8778	10	7	the	the	DET
fbem-8778	10	8	core	core	NOUN
fbem-8778	10	9	capital	capital	NOUN
fbem-8778	10	10	element	element	NOUN
fbem-8778	10	11	in	in	ADP
fbem-8778	10	12	direct	direct	ADJ
fbem-8778	10	13	financing	financing	NOUN
fbem-8778	10	14	,	,	PUNCT
fbem-8778	10	15	are	be	AUX
fbem-8778	10	16	increasingly	increasingly	ADV
fbem-8778	10	17	involved	involve	VERB
fbem-8778	10	18	in	in	ADP
fbem-8778	10	19	equity	equity	NOUN
fbem-8778	10	20	transactions	transaction	NOUN
fbem-8778	10	21	under	under	ADP
fbem-8778	10	22	the	the	DET
fbem-8778	10	23	development	development	NOUN
fbem-8778	10	24	of	of	ADP
fbem-8778	10	25	the	the	DET
fbem-8778	10	26	market	market	NOUN
fbem-8778	10	27	economy	economy	NOUN
fbem-8778	10	28	.	.	PUNCT
fbem-8778	11	1	the	the	DET
fbem-8778	11	2	right	right	NOUN
fbem-8778	11	3	of	of	ADP
fbem-8778	11	4	first	first	ADJ
fbem-8778	11	5	refusal	refusal	NOUN
fbem-8778	11	6	clause	clause	NOUN
fbem-8778	11	7	is	be	AUX
fbem-8778	11	8	one	one	NUM
fbem-8778	11	9	of	of	ADP
fbem-8778	11	10	the	the	DET
fbem-8778	11	11	terms	term	NOUN
fbem-8778	11	12	that	that	SCONJ
fbem-8778	11	13	investors	investor	NOUN
fbem-8778	11	14	and	and	CCONJ
fbem-8778	11	15	founding	founding	NOUN
fbem-8778	11	16	teams	team	NOUN
fbem-8778	11	17	can	can	AUX
fbem-8778	11	18	quickly	quickly	ADV
fbem-8778	11	19	reach	reach	VERB
fbem-8778	11	20	agreement	agreement	NOUN
fbem-8778	11	21	on	on	ADP
fbem-8778	11	22	in	in	ADP
fbem-8778	11	23	investment	investment	NOUN
fbem-8778	11	24	agreements	agreement	NOUN
fbem-8778	11	25	,	,	PUNCT
fbem-8778	11	26	this	this	PRON
fbem-8778	11	27	makes	make	VERB
fbem-8778	11	28	the	the	DET
fbem-8778	11	29	preemptive	preemptive	ADJ
fbem-8778	11	30	right	right	NOUN
fbem-8778	11	31	in	in	ADP
fbem-8778	11	32	shareholder	shareholder	NOUN
fbem-8778	11	33	equity	equity	NOUN
fbem-8778	11	34	more	more	ADV
fbem-8778	11	35	important	important	ADJ
fbem-8778	11	36	and	and	CCONJ
fbem-8778	11	37	receives	receive	VERB
fbem-8778	11	38	more	more	ADJ
fbem-8778	11	39	attention	attention	NOUN
fbem-8778	11	40	.	.	PUNCT
fbem-8778	12	1	the	the	DET
fbem-8778	12	2	establishment	establishment	NOUN
fbem-8778	12	3	and	and	CCONJ
fbem-8778	12	4	in	in	ADP
fbem-8778	12	5	-	-	PUNCT
fbem-8778	12	6	depth	depth	NOUN
fbem-8778	12	7	research	research	NOUN
fbem-8778	12	8	of	of	ADP
fbem-8778	12	9	this	this	DET
fbem-8778	12	10	system	system	NOUN
fbem-8778	12	11	can	can	AUX
fbem-8778	12	12	effectively	effectively	ADV
fbem-8778	12	13	maintain	maintain	VERB
fbem-8778	12	14	the	the	DET
fbem-8778	12	15	normal	normal	ADJ
fbem-8778	12	16	development	development	NOUN
fbem-8778	12	17	of	of	ADP
fbem-8778	12	18	limited	limited	ADJ
fbem-8778	12	19	liability	liability	NOUN
fbem-8778	12	20	companies	company	NOUN
fbem-8778	12	21	,	,	PUNCT
fbem-8778	12	22	maintain	maintain	VERB
fbem-8778	12	23	and	and	CCONJ
fbem-8778	12	24	balance	balance	VERB
fbem-8778	12	25	the	the	DET
fbem-8778	12	26	interests	interest	NOUN
fbem-8778	12	27	of	of	ADP
fbem-8778	12	28	shareholders	shareholder	NOUN
fbem-8778	12	29	and	and	CCONJ
fbem-8778	12	30	all	all	DET
fbem-8778	12	31	parties	party	NOUN
fbem-8778	12	32	,	,	PUNCT
fbem-8778	12	33	and	and	CCONJ
fbem-8778	12	34	thus	thus	ADV
fbem-8778	12	35	ensure	ensure	VERB
fbem-8778	12	36	the	the	DET
fbem-8778	12	37	healthy	healthy	ADJ
fbem-8778	12	38	development	development	NOUN
fbem-8778	12	39	of	of	ADP
fbem-8778	12	40	china	china	PROPN
fbem-8778	12	41	's	's	PART
fbem-8778	12	42	market	market	NOUN
fbem-8778	12	43	economy	economy	NOUN
fbem-8778	12	44	on	on	ADP
fbem-8778	12	45	a	a	DET
fbem-8778	12	46	normal	normal	ADJ
fbem-8778	12	47	track	track	NOUN
fbem-8778	12	48	,	,	PUNCT
fbem-8778	12	49	which	which	PRON
fbem-8778	12	50	is	be	AUX
fbem-8778	12	51	of	of	ADP
fbem-8778	12	52	great	great	ADJ
fbem-8778	12	53	significance	significance	NOUN
fbem-8778	12	54	.	.	PUNCT
fbem-8778	13	1	however	however	ADV
fbem-8778	13	2	,	,	PUNCT
fbem-8778	13	3	in	in	ADP
fbem-8778	13	4	the	the	DET
fbem-8778	13	5	application	application	NOUN
fbem-8778	13	6	of	of	ADP
fbem-8778	13	7	practical	practical	ADJ
fbem-8778	13	8	affairs	affair	NOUN
fbem-8778	13	9	,	,	PUNCT
fbem-8778	13	10	due	due	ADP
fbem-8778	13	11	to	to	ADP
fbem-8778	13	12	the	the	DET
fbem-8778	13	13	incompleteness	incompleteness	NOUN
fbem-8778	13	14	of	of	ADP
fbem-8778	13	15	legislation	legislation	NOUN
fbem-8778	13	16	and	and	CCONJ
fbem-8778	13	17	the	the	DET
fbem-8778	13	18	complexity	complexity	NOUN
fbem-8778	13	19	of	of	ADP
fbem-8778	13	20	transaction	transaction	NOUN
fbem-8778	13	21	,	,	PUNCT
fbem-8778	13	22	there	there	PRON
fbem-8778	13	23	are	be	VERB
fbem-8778	13	24	still	still	ADV
fbem-8778	13	25	many	many	ADJ
fbem-8778	13	26	gaps	gap	NOUN
fbem-8778	13	27	in	in	ADP
fbem-8778	13	28	the	the	DET
fbem-8778	13	29	application	application	NOUN
fbem-8778	13	30	of	of	ADP
fbem-8778	13	31	shareholder	shareholder	NOUN
fbem-8778	13	32	's	's	PART
fbem-8778	13	33	right	right	NOUN
fbem-8778	13	34	of	of	ADP
fbem-8778	13	35	first	first	ADJ
fbem-8778	13	36	refusal	refusal	NOUN
fbem-8778	13	37	,	,	PUNCT
fbem-8778	13	38	and	and	CCONJ
fbem-8778	13	39	many	many	ADJ
fbem-8778	13	40	issues	issue	NOUN
fbem-8778	13	41	can	can	AUX
fbem-8778	13	42	not	not	PART
fbem-8778	13	43	be	be	AUX
fbem-8778	13	44	found	find	VERB
fbem-8778	13	45	with	with	ADP
fbem-8778	13	46	appropriate	appropriate	ADJ
fbem-8778	13	47	legal	legal	ADJ
fbem-8778	13	48	basis	basis	NOUN
fbem-8778	13	49	,	,	PUNCT
fbem-8778	13	50	leading	lead	VERB
fbem-8778	13	51	to	to	ADP
fbem-8778	13	52	many	many	ADJ
fbem-8778	13	53	issues	issue	NOUN
fbem-8778	13	54	and	and	CCONJ
fbem-8778	13	55	controversies	controversy	NOUN
fbem-8778	13	56	,	,	PUNCT
fbem-8778	13	57	making	make	VERB
fbem-8778	13	58	it	it	PRON
fbem-8778	13	59	difficult	difficult	ADJ
fbem-8778	13	60	for	for	ADP
fbem-8778	13	61	shareholders	shareholder	NOUN
fbem-8778	13	62	'	'	PART
fbem-8778	13	63	right	right	NOUN
fbem-8778	13	64	of	of	ADP
fbem-8778	13	65	first	first	ADJ
fbem-8778	13	66	refusal	refusal	NOUN
fbem-8778	13	67	to	to	PART
fbem-8778	13	68	be	be	AUX
fbem-8778	13	69	effectively	effectively	ADV
fbem-8778	13	70	exercised	exercise	VERB
fbem-8778	13	71	in	in	ADP
fbem-8778	13	72	actual	actual	ADJ
fbem-8778	13	73	life	life	NOUN
fbem-8778	13	74	transaction	transaction	NOUN
fbem-8778	13	75	.	.	PUNCT
fbem-8778	14	1	2	2	X
fbem-8778	14	2	.	.	X
fbem-8778	14	3	the	the	DET
fbem-8778	14	4	practical	practical	ADJ
fbem-8778	14	5	value	value	NOUN
fbem-8778	14	6	of	of	ADP
fbem-8778	14	7	the	the	DET
fbem-8778	14	8	right	right	NOUN
fbem-8778	14	9	of	of	ADP
fbem-8778	14	10	first	first	ADJ
fbem-8778	14	11	refusal	refusal	NOUN
fbem-8778	14	12	2.1	2.1	NUM
fbem-8778	14	13	.	.	PUNCT
fbem-8778	15	1	maintain	maintain	VERB
fbem-8778	15	2	the	the	DET
fbem-8778	15	3	stability	stability	NOUN
fbem-8778	15	4	of	of	ADP
fbem-8778	15	5	the	the	DET
fbem-8778	15	6	founding	found	VERB
fbem-8778	15	7	team	team	NOUN
fbem-8778	15	8	for	for	ADP
fbem-8778	15	9	investors	investor	NOUN
fbem-8778	15	10	,	,	PUNCT
fbem-8778	15	11	especially	especially	ADV
fbem-8778	15	12	venture	venture	NOUN
fbem-8778	15	13	capital	capital	NOUN
fbem-8778	15	14	,	,	PUNCT
fbem-8778	15	15	investment	investment	NOUN
fbem-8778	15	16	is	be	AUX
fbem-8778	15	17	the	the	DET
fbem-8778	15	18	investor	investor	NOUN
fbem-8778	15	19	.	.	PUNCT
fbem-8778	16	1	one	one	NUM
fbem-8778	16	2	of	of	ADP
fbem-8778	16	3	the	the	DET
fbem-8778	16	4	main	main	ADJ
fbem-8778	16	5	investment	investment	NOUN
fbem-8778	16	6	factors	factor	NOUN
fbem-8778	16	7	that	that	PRON
fbem-8778	16	8	investors	investor	NOUN
fbem-8778	16	9	consider	consider	VERB
fbem-8778	16	10	during	during	ADP
fbem-8778	16	11	the	the	DET
fbem-8778	16	12	start	start	VERB
fbem-8778	16	13	-	-	PUNCT
fbem-8778	16	14	up	up	ADP
fbem-8778	16	15	stage	stage	NOUN
fbem-8778	16	16	of	of	ADP
fbem-8778	16	17	a	a	DET
fbem-8778	16	18	company	company	NOUN
fbem-8778	16	19	is	be	AUX
fbem-8778	16	20	the	the	DET
fbem-8778	16	21	founding	found	VERB
fbem-8778	16	22	team	team	NOUN
fbem-8778	16	23	,	,	PUNCT
fbem-8778	16	24	including	include	VERB
fbem-8778	16	25	its	its	PRON
fbem-8778	16	26	growth	growth	NOUN
fbem-8778	16	27	,	,	PUNCT
fbem-8778	16	28	management	management	NOUN
fbem-8778	16	29	,	,	PUNCT
fbem-8778	16	30	and	and	CCONJ
fbem-8778	16	31	learning	learn	VERB
fbem-8778	16	32	abilities	ability	NOUN
fbem-8778	16	33	.	.	PUNCT
fbem-8778	17	1	therefore	therefore	ADV
fbem-8778	17	2	,	,	PUNCT
fbem-8778	17	3	investors	investor	NOUN
fbem-8778	17	4	hope	hope	VERB
fbem-8778	17	5	that	that	SCONJ
fbem-8778	17	6	the	the	DET
fbem-8778	17	7	personnel	personnel	NOUN
fbem-8778	17	8	of	of	ADP
fbem-8778	17	9	the	the	DET
fbem-8778	17	10	founding	found	VERB
fbem-8778	17	11	team	team	NOUN
fbem-8778	17	12	are	be	AUX
fbem-8778	17	13	stable	stable	ADJ
fbem-8778	17	14	.	.	PUNCT
fbem-8778	18	1	even	even	ADV
fbem-8778	18	2	if	if	SCONJ
fbem-8778	18	3	the	the	DET
fbem-8778	18	4	founding	found	VERB
fbem-8778	18	5	team	team	NOUN
fbem-8778	18	6	intends	intend	VERB
fbem-8778	18	7	to	to	PART
fbem-8778	18	8	transfer	transfer	VERB
fbem-8778	18	9	its	its	PRON
fbem-8778	18	10	equity	equity	NOUN
fbem-8778	18	11	in	in	ADP
fbem-8778	18	12	the	the	DET
fbem-8778	18	13	company	company	NOUN
fbem-8778	18	14	,	,	PUNCT
fbem-8778	18	15	investors	investor	NOUN
fbem-8778	18	16	also	also	ADV
fbem-8778	18	17	hope	hope	VERB
fbem-8778	18	18	that	that	SCONJ
fbem-8778	18	19	such	such	ADJ
fbem-8778	18	20	actions	action	NOUN
fbem-8778	18	21	require	require	VERB
fbem-8778	18	22	written	write	VERB
fbem-8778	18	23	consent	consent	NOUN
fbem-8778	18	24	from	from	ADP
fbem-8778	18	25	the	the	DET
fbem-8778	18	26	investor	investor	NOUN
fbem-8778	18	27	,	,	PUNCT
fbem-8778	18	28	and	and	CCONJ
fbem-8778	18	29	i	i	PRON
fbem-8778	18	30	hope	hope	VERB
fbem-8778	18	31	to	to	PART
fbem-8778	18	32	have	have	VERB
fbem-8778	18	33	the	the	DET
fbem-8778	18	34	right	right	NOUN
fbem-8778	18	35	of	of	ADP
fbem-8778	18	36	first	first	ADJ
fbem-8778	18	37	refusal	refusal	NOUN
fbem-8778	18	38	to	to	PART
fbem-8778	18	39	purchase	purchase	VERB
fbem-8778	18	40	the	the	DET
fbem-8778	18	41	equity	equity	NOUN
fbem-8778	18	42	,	,	PUNCT
fbem-8778	18	43	so	so	ADV
fbem-8778	18	44	the	the	DET
fbem-8778	18	45	investor	investor	NOUN
fbem-8778	18	46	's	's	PART
fbem-8778	18	47	right	right	NOUN
fbem-8778	18	48	of	of	ADP
fbem-8778	18	49	first	first	ADJ
fbem-8778	18	50	refusal	refusal	NOUN
fbem-8778	18	51	in	in	ADP
fbem-8778	18	52	the	the	DET
fbem-8778	18	53	equity	equity	NOUN
fbem-8778	18	54	investment	investment	NOUN
fbem-8778	18	55	agreement	agreement	NOUN
fbem-8778	18	56	is	be	AUX
fbem-8778	18	57	beneficial	beneficial	ADJ
fbem-8778	18	58	to	to	ADP
fbem-8778	18	59	the	the	DET
fbem-8778	18	60	stability	stability	NOUN
fbem-8778	18	61	of	of	ADP
fbem-8778	18	62	the	the	DET
fbem-8778	18	63	founding	found	VERB
fbem-8778	18	64	team	team	NOUN
fbem-8778	18	65	to	to	ADP
fbem-8778	18	66	a	a	DET
fbem-8778	18	67	certain	certain	ADJ
fbem-8778	18	68	extent	extent	NOUN
fbem-8778	18	69	.	.	PUNCT
fbem-8778	19	1	2.2	2.2	NUM
fbem-8778	19	2	.	.	PUNCT
fbem-8778	19	3	reserve	reserve	VERB
fbem-8778	19	4	the	the	DET
fbem-8778	19	5	right	right	NOUN
fbem-8778	19	6	to	to	PART
fbem-8778	19	7	continuously	continuously	ADV
fbem-8778	19	8	increase	increase	VERB
fbem-8778	19	9	investment	investment	NOUN
fbem-8778	19	10	the	the	DET
fbem-8778	19	11	right	right	NOUN
fbem-8778	19	12	of	of	ADP
fbem-8778	19	13	first	first	ADJ
fbem-8778	19	14	refusal	refusal	NOUN
fbem-8778	19	15	,	,	PUNCT
fbem-8778	19	16	as	as	ADP
fbem-8778	19	17	one	one	NUM
fbem-8778	19	18	of	of	ADP
fbem-8778	19	19	the	the	DET
fbem-8778	19	20	fundamental	fundamental	ADJ
fbem-8778	19	21	rights	right	NOUN
fbem-8778	19	22	of	of	ADP
fbem-8778	19	23	shareholders	shareholder	NOUN
fbem-8778	19	24	in	in	ADP
fbem-8778	19	25	a	a	DET
fbem-8778	19	26	company	company	NOUN
fbem-8778	19	27	,	,	PUNCT
fbem-8778	19	28	is	be	AUX
fbem-8778	19	29	different	different	ADJ
fbem-8778	19	30	from	from	ADP
fbem-8778	19	31	the	the	DET
fbem-8778	19	32	right	right	NOUN
fbem-8778	19	33	of	of	ADP
fbem-8778	19	34	first	first	ADJ
fbem-8778	19	35	refusal	refusal	NOUN
fbem-8778	19	36	under	under	ADP
fbem-8778	19	37	the	the	DET
fbem-8778	19	38	company	company	NOUN
fbem-8778	19	39	law	law	NOUN
fbem-8778	19	40	.	.	PUNCT
fbem-8778	20	1	in	in	ADP
fbem-8778	20	2	practice	practice	NOUN
fbem-8778	20	3	,	,	PUNCT
fbem-8778	20	4	in	in	ADP
fbem-8778	20	5	many	many	ADJ
fbem-8778	20	6	equity	equity	NOUN
fbem-8778	20	7	investment	investment	NOUN
fbem-8778	20	8	agreements	agreement	NOUN
fbem-8778	20	9	,	,	PUNCT
fbem-8778	20	10	both	both	DET
fbem-8778	20	11	parties	party	NOUN
fbem-8778	20	12	explicitly	explicitly	ADV
fbem-8778	20	13	grant	grant	VERB
fbem-8778	20	14	investors	investor	NOUN
fbem-8778	20	15	the	the	DET
fbem-8778	20	16	right	right	NOUN
fbem-8778	20	17	of	of	ADP
fbem-8778	20	18	first	first	ADJ
fbem-8778	20	19	refusal	refusal	NOUN
fbem-8778	20	20	through	through	ADP
fbem-8778	20	21	an	an	DET
fbem-8778	20	22	agreement	agreement	NOUN
fbem-8778	20	23	in	in	ADP
fbem-8778	20	24	the	the	DET
fbem-8778	20	25	contract	contract	NOUN
fbem-8778	20	26	,	,	PUNCT
fbem-8778	20	27	and	and	CCONJ
fbem-8778	20	28	this	this	DET
fbem-8778	20	29	right	right	NOUN
fbem-8778	20	30	is	be	AUX
fbem-8778	20	31	often	often	ADV
fbem-8778	20	32	superior	superior	ADJ
fbem-8778	20	33	to	to	ADP
fbem-8778	20	34	the	the	DET
fbem-8778	20	35	shareholder	shareholder	NOUN
fbem-8778	20	36	's	's	PART
fbem-8778	20	37	right	right	NOUN
fbem-8778	20	38	of	of	ADP
fbem-8778	20	39	first	first	ADJ
fbem-8778	20	40	refusal	refusal	NOUN
fbem-8778	20	41	in	in	ADP
fbem-8778	20	42	practice	practice	NOUN
fbem-8778	20	43	.	.	PUNCT
fbem-8778	21	1	when	when	SCONJ
fbem-8778	21	2	the	the	DET
fbem-8778	21	3	founding	found	VERB
fbem-8778	21	4	team	team	NOUN
fbem-8778	21	5	intends	intend	VERB
fbem-8778	21	6	to	to	PART
fbem-8778	21	7	transfer	transfer	VERB
fbem-8778	21	8	part	part	NOUN
fbem-8778	21	9	or	or	CCONJ
fbem-8778	21	10	all	all	PRON
fbem-8778	21	11	of	of	ADP
fbem-8778	21	12	their	their	PRON
fbem-8778	21	13	company	company	NOUN
fbem-8778	21	14	's	's	PART
fbem-8778	21	15	equity	equity	NOUN
fbem-8778	21	16	,	,	PUNCT
fbem-8778	21	17	if	if	SCONJ
fbem-8778	21	18	investors	investor	NOUN
fbem-8778	21	19	believe	believe	VERB
fbem-8778	21	20	that	that	SCONJ
fbem-8778	21	21	the	the	DET
fbem-8778	21	22	company	company	NOUN
fbem-8778	21	23	has	have	VERB
fbem-8778	21	24	further	further	ADJ
fbem-8778	21	25	investment	investment	NOUN
fbem-8778	21	26	value	value	NOUN
fbem-8778	21	27	,	,	PUNCT
fbem-8778	21	28	they	they	PRON
fbem-8778	21	29	can	can	AUX
fbem-8778	21	30	have	have	VERB
fbem-8778	21	31	priority	priority	NOUN
fbem-8778	21	32	over	over	ADP
fbem-8778	21	33	external	external	ADJ
fbem-8778	21	34	third	third	ADJ
fbem-8778	21	35	parties	party	NOUN
fbem-8778	21	36	or	or	CCONJ
fbem-8778	21	37	even	even	ADV
fbem-8778	21	38	other	other	ADJ
fbem-8778	21	39	shareholders	shareholder	NOUN
fbem-8778	21	40	to	to	PART
fbem-8778	21	41	acquire	acquire	VERB
fbem-8778	21	42	such	such	ADJ
fbem-8778	21	43	equity	equity	NOUN
fbem-8778	21	44	,	,	PUNCT
fbem-8778	21	45	thereby	thereby	ADV
fbem-8778	21	46	increasing	increase	VERB
fbem-8778	21	47	their	their	PRON
fbem-8778	21	48	shareholding	shareholding	NOUN
fbem-8778	21	49	in	in	ADP
fbem-8778	21	50	the	the	DET
fbem-8778	21	51	company	company	NOUN
fbem-8778	21	52	.	.	PUNCT
fbem-8778	22	1	in	in	ADP
fbem-8778	22	2	practice	practice	NOUN
fbem-8778	22	3	,	,	PUNCT
fbem-8778	22	4	when	when	SCONJ
fbem-8778	22	5	a	a	DET
fbem-8778	22	6	company	company	NOUN
fbem-8778	22	7	raises	raise	VERB
fbem-8778	22	8	funds	fund	NOUN
fbem-8778	22	9	,	,	PUNCT
fbem-8778	22	10	the	the	DET
fbem-8778	22	11	founding	found	VERB
fbem-8778	22	12	team	team	NOUN
fbem-8778	22	13	usually	usually	ADV
fbem-8778	22	14	expresses	express	VERB
fbem-8778	22	15	their	their	PRON
fbem-8778	22	16	determination	determination	NOUN
fbem-8778	22	17	to	to	PART
fbem-8778	22	18	hold	hold	VERB
fbem-8778	22	19	long	long	ADJ
fbem-8778	22	20	-	-	PUNCT
fbem-8778	22	21	term	term	NOUN
fbem-8778	22	22	equity	equity	NOUN
fbem-8778	22	23	in	in	ADP
fbem-8778	22	24	the	the	DET
fbem-8778	22	25	company	company	NOUN
fbem-8778	22	26	in	in	ADP
fbem-8778	22	27	order	order	NOUN
fbem-8778	22	28	to	to	PART
fbem-8778	22	29	give	give	VERB
fbem-8778	22	30	investors	investor	NOUN
fbem-8778	22	31	enough	enough	ADJ
fbem-8778	22	32	confidence	confidence	NOUN
fbem-8778	22	33	.	.	PUNCT
fbem-8778	23	1	correspondingly	correspondingly	ADV
fbem-8778	23	2	,	,	PUNCT
fbem-8778	23	3	if	if	SCONJ
fbem-8778	23	4	the	the	DET
fbem-8778	23	5	willingness	willingness	NOUN
fbem-8778	23	6	of	of	ADP
fbem-8778	23	7	the	the	DET
fbem-8778	23	8	founding	found	VERB
fbem-8778	23	9	team	team	NOUN
fbem-8778	23	10	to	to	PART
fbem-8778	23	11	transfer	transfer	VERB
fbem-8778	23	12	equity	equity	NOUN
fbem-8778	23	13	is	be	AUX
fbem-8778	23	14	extremely	extremely	ADV
fbem-8778	23	15	low	low	ADJ
fbem-8778	23	16	,	,	PUNCT
fbem-8778	23	17	investors	investor	NOUN
fbem-8778	23	18	demand	demand	VERB
fbem-8778	23	19	the	the	DET
fbem-8778	23	20	right	right	NOUN
fbem-8778	23	21	of	of	ADP
fbem-8778	23	22	first	first	ADJ
fbem-8778	23	23	refusal	refusal	NOUN
fbem-8778	23	24	,	,	PUNCT
fbem-8778	23	25	and	and	CCONJ
fbem-8778	23	26	the	the	DET
fbem-8778	23	27	founding	found	VERB
fbem-8778	23	28	team	team	NOUN
fbem-8778	23	29	is	be	AUX
fbem-8778	23	30	also	also	ADV
fbem-8778	23	31	more	more	ADV
fbem-8778	23	32	difficult	difficult	ADJ
fbem-8778	23	33	to	to	PART
fbem-8778	23	34	refuse	refuse	VERB
fbem-8778	23	35	.	.	PUNCT
fbem-8778	24	1	however	however	ADV
fbem-8778	24	2	,	,	PUNCT
fbem-8778	24	3	we	we	PRON
fbem-8778	24	4	still	still	ADV
fbem-8778	24	5	suggest	suggest	VERB
fbem-8778	24	6	that	that	SCONJ
fbem-8778	24	7	the	the	DET
fbem-8778	24	8	founding	found	VERB
fbem-8778	24	9	team	team	NOUN
fbem-8778	24	10	focus	focus	VERB
fbem-8778	24	11	on	on	ADP
fbem-8778	24	12	the	the	DET
fbem-8778	24	13	specific	specific	ADJ
fbem-8778	24	14	design	design	NOUN
fbem-8778	24	15	of	of	ADP
fbem-8778	24	16	the	the	DET
fbem-8778	24	17	right	right	NOUN
fbem-8778	24	18	of	of	ADP
fbem-8778	24	19	first	first	ADJ
fbem-8778	24	20	refusal	refusal	NOUN
fbem-8778	24	21	clauses	clause	NOUN
fbem-8778	24	22	to	to	PART
fbem-8778	24	23	achieve	achieve	VERB
fbem-8778	24	24	a	a	DET
fbem-8778	24	25	relatively	relatively	ADV
fbem-8778	24	26	balanced	balanced	ADJ
fbem-8778	24	27	agreement	agreement	NOUN
fbem-8778	24	28	between	between	ADP
fbem-8778	24	29	investor	investor	NOUN
fbem-8778	24	30	requirements	requirement	NOUN
fbem-8778	24	31	and	and	CCONJ
fbem-8778	24	32	equity	equity	NOUN
fbem-8778	24	33	arbitrage	arbitrage	NOUN
fbem-8778	24	34	or	or	CCONJ
fbem-8778	24	35	liquidity	liquidity	NOUN
fbem-8778	24	36	.	.	PUNCT
fbem-8778	25	1	3	3	X
fbem-8778	25	2	.	.	X
fbem-8778	25	3	key	key	ADJ
fbem-8778	25	4	points	point	NOUN
fbem-8778	25	5	of	of	ADP
fbem-8778	25	6	attention	attention	NOUN
fbem-8778	25	7	in	in	ADP
fbem-8778	25	8	the	the	DET
fbem-8778	25	9	exercise	exercise	NOUN
fbem-8778	25	10	of	of	ADP
fbem-8778	25	11	the	the	DET
fbem-8778	25	12	right	right	NOUN
fbem-8778	25	13	of	of	ADP
fbem-8778	25	14	first	first	ADJ
fbem-8778	25	15	refusal	refusal	NOUN
fbem-8778	25	16	3.1	3.1	NUM
fbem-8778	25	17	.	.	PUNCT
fbem-8778	26	1	the	the	DET
fbem-8778	26	2	provision	provision	NOUN
fbem-8778	26	3	of	of	ADP
fbem-8778	26	4	'	'	PUNCT
fbem-8778	26	5	equal	equal	ADJ
fbem-8778	26	6	conditions	condition	NOUN
fbem-8778	26	7	'	'	PUNCT
fbem-8778	26	8	is	be	AUX
fbem-8778	26	9	too	too	ADV
fbem-8778	26	10	broad	broad	ADJ
fbem-8778	26	11	for	for	ADP
fbem-8778	26	12	the	the	DET
fbem-8778	26	13	right	right	NOUN
fbem-8778	26	14	of	of	ADP
fbem-8778	26	15	first	first	ADJ
fbem-8778	26	16	refusal	refusal	NOUN
fbem-8778	26	17	,	,	PUNCT
fbem-8778	26	18	the	the	DET
fbem-8778	26	19	term	term	NOUN
fbem-8778	26	20	'	'	PUNCT
fbem-8778	26	21	priority	priority	NOUN
fbem-8778	26	22	'	'	PUNCT
fbem-8778	26	23	generally	generally	ADV
fbem-8778	26	24	refers	refer	VERB
fbem-8778	26	25	to	to	ADP
fbem-8778	26	26	the	the	DET
fbem-8778	26	27	priority	priority	NOUN
fbem-8778	26	28	that	that	PRON
fbem-8778	26	29	investors	investor	NOUN
fbem-8778	26	30	enjoy	enjoy	VERB
fbem-8778	26	31	in	in	ADP
fbem-8778	26	32	the	the	DET
fbem-8778	26	33	order	order	NOUN
fbem-8778	26	34	of	of	ADP
fbem-8778	26	35	equity	equity	NOUN
fbem-8778	26	36	transfer	transfer	NOUN
fbem-8778	26	37	compared	compare	VERB
fbem-8778	26	38	to	to	ADP
fbem-8778	26	39	other	other	ADJ
fbem-8778	26	40	civil	civil	ADJ
fbem-8778	26	41	subjects	subject	NOUN
fbem-8778	26	42	such	such	ADJ
fbem-8778	26	43	as	as	ADP
fbem-8778	26	44	shareholders	shareholder	NOUN
fbem-8778	26	45	348	348	NUM
fbem-8778	26	46	under	under	ADP
fbem-8778	26	47	the	the	DET
fbem-8778	26	48	same	same	ADJ
fbem-8778	26	49	conditions	condition	NOUN
fbem-8778	26	50	,	,	PUNCT
fbem-8778	26	51	and	and	CCONJ
fbem-8778	26	52	can	can	AUX
fbem-8778	26	53	not	not	PART
fbem-8778	26	54	be	be	AUX
fbem-8778	26	55	understood	understand	VERB
fbem-8778	26	56	as	as	ADP
fbem-8778	26	57	having	have	VERB
fbem-8778	26	58	a	a	DET
fbem-8778	26	59	relative	relative	ADJ
fbem-8778	26	60	advantage	advantage	NOUN
fbem-8778	26	61	in	in	ADP
fbem-8778	26	62	terms	term	NOUN
fbem-8778	26	63	of	of	ADP
fbem-8778	26	64	transaction	transaction	NOUN
fbem-8778	26	65	conditions	condition	NOUN
fbem-8778	26	66	.	.	PUNCT
fbem-8778	27	1	in	in	ADP
fbem-8778	27	2	judicial	judicial	ADJ
fbem-8778	27	3	practice	practice	NOUN
fbem-8778	27	4	,	,	PUNCT
fbem-8778	27	5	in	in	ADP
fbem-8778	27	6	addition	addition	NOUN
fbem-8778	27	7	to	to	ADP
fbem-8778	27	8	using	use	VERB
fbem-8778	27	9	the	the	DET
fbem-8778	27	10	quantity	quantity	NOUN
fbem-8778	27	11	,	,	PUNCT
fbem-8778	27	12	price	price	NOUN
fbem-8778	27	13	,	,	PUNCT
fbem-8778	27	14	payment	payment	NOUN
fbem-8778	27	15	method	method	NOUN
fbem-8778	27	16	,	,	PUNCT
fbem-8778	27	17	and	and	CCONJ
fbem-8778	27	18	term	term	NOUN
fbem-8778	27	19	of	of	ADP
fbem-8778	27	20	equity	equity	NOUN
fbem-8778	27	21	as	as	ADP
fbem-8778	27	22	the	the	DET
fbem-8778	27	23	criteria	criterion	NOUN
fbem-8778	27	24	for	for	ADP
fbem-8778	27	25	determining	determine	VERB
fbem-8778	27	26	"	"	PUNCT
fbem-8778	27	27	equal	equal	ADJ
fbem-8778	27	28	conditions	condition	NOUN
fbem-8778	27	29	"	"	PUNCT
fbem-8778	27	30	,	,	PUNCT
fbem-8778	27	31	in	in	ADP
fbem-8778	27	32	special	special	ADJ
fbem-8778	27	33	circumstances	circumstance	NOUN
fbem-8778	27	34	,	,	PUNCT
fbem-8778	27	35	factors	factor	NOUN
fbem-8778	27	36	such	such	ADJ
fbem-8778	27	37	as	as	ADP
fbem-8778	27	38	merging	merge	VERB
fbem-8778	27	39	multiple	multiple	ADJ
fbem-8778	27	40	transferors	transferor	NOUN
fbem-8778	27	41	to	to	PART
fbem-8778	27	42	transfer	transfer	VERB
fbem-8778	27	43	their	their	PRON
fbem-8778	27	44	company	company	NOUN
fbem-8778	27	45	equity	equity	NOUN
fbem-8778	27	46	will	will	AUX
fbem-8778	27	47	also	also	ADV
fbem-8778	27	48	be	be	AUX
fbem-8778	27	49	considered	consider	VERB
fbem-8778	27	50	as	as	ADP
fbem-8778	27	51	"	"	PUNCT
fbem-8778	27	52	equal	equal	ADJ
fbem-8778	27	53	conditions	condition	NOUN
fbem-8778	27	54	"	"	PUNCT
fbem-8778	27	55	.	.	PUNCT
fbem-8778	28	1	in	in	ADP
fbem-8778	28	2	addition	addition	NOUN
fbem-8778	28	3	,	,	PUNCT
fbem-8778	28	4	the	the	DET
fbem-8778	28	5	court	court	NOUN
fbem-8778	28	6	will	will	AUX
fbem-8778	28	7	also	also	ADV
fbem-8778	28	8	judge	judge	VERB
fbem-8778	28	9	that	that	SCONJ
fbem-8778	28	10	"	"	PUNCT
fbem-8778	28	11	equal	equal	ADJ
fbem-8778	28	12	conditions	condition	NOUN
fbem-8778	28	13	"	"	PUNCT
fbem-8778	28	14	are	be	AUX
fbem-8778	28	15	deliberately	deliberately	ADV
fbem-8778	28	16	created	create	VERB
fbem-8778	28	17	by	by	ADP
fbem-8778	28	18	both	both	DET
fbem-8778	28	19	parties	party	NOUN
fbem-8778	28	20	to	to	ADP
fbem-8778	28	21	the	the	DET
fbem-8778	28	22	transfer	transfer	NOUN
fbem-8778	28	23	,	,	PUNCT
fbem-8778	28	24	the	the	DET
fbem-8778	28	25	preemptive	preemptive	ADJ
fbem-8778	28	26	right	right	NOUN
fbem-8778	28	27	of	of	ADP
fbem-8778	28	28	other	other	ADJ
fbem-8778	28	29	shareholders	shareholder	NOUN
fbem-8778	28	30	can	can	AUX
fbem-8778	28	31	counter	counter	VERB
fbem-8778	28	32	such	such	ADJ
fbem-8778	28	33	transfer	transfer	NOUN
fbem-8778	28	34	behavior	behavior	NOUN
fbem-8778	28	35	.	.	PUNCT
fbem-8778	29	1	however	however	ADV
fbem-8778	29	2	,	,	PUNCT
fbem-8778	29	3	due	due	ADP
fbem-8778	29	4	to	to	ADP
fbem-8778	29	5	a	a	DET
fbem-8778	29	6	large	large	ADJ
fbem-8778	29	7	number	number	NOUN
fbem-8778	29	8	of	of	ADP
fbem-8778	29	9	gaps	gap	NOUN
fbem-8778	29	10	in	in	ADP
fbem-8778	29	11	relevant	relevant	ADJ
fbem-8778	29	12	regulations	regulation	NOUN
fbem-8778	29	13	,	,	PUNCT
fbem-8778	29	14	many	many	ADJ
fbem-8778	29	15	affairs	affair	NOUN
fbem-8778	29	16	can	can	AUX
fbem-8778	29	17	not	not	PART
fbem-8778	29	18	find	find	VERB
fbem-8778	29	19	corresponding	corresponding	ADJ
fbem-8778	29	20	legal	legal	ADJ
fbem-8778	29	21	basis	basis	NOUN
fbem-8778	29	22	,	,	PUNCT
fbem-8778	29	23	resulting	result	VERB
fbem-8778	29	24	in	in	ADP
fbem-8778	29	25	many	many	ADJ
fbem-8778	29	26	events	event	NOUN
fbem-8778	29	27	that	that	PRON
fbem-8778	29	28	affect	affect	VERB
fbem-8778	29	29	the	the	DET
fbem-8778	29	30	fairness	fairness	NOUN
fbem-8778	29	31	of	of	ADP
fbem-8778	29	32	market	market	NOUN
fbem-8778	29	33	equity	equity	NOUN
fbem-8778	29	34	transactions	transaction	NOUN
fbem-8778	29	35	,	,	PUNCT
fbem-8778	29	36	such	such	ADJ
fbem-8778	29	37	as	as	ADP
fbem-8778	29	38	collusion	collusion	NOUN
fbem-8778	29	39	between	between	ADP
fbem-8778	29	40	shareholders	shareholder	NOUN
fbem-8778	29	41	and	and	CCONJ
fbem-8778	29	42	third	third	ADJ
fbem-8778	29	43	parties	party	NOUN
fbem-8778	29	44	,	,	PUNCT
fbem-8778	29	45	intentional	intentional	ADJ
fbem-8778	29	46	setting	setting	NOUN
fbem-8778	29	47	of	of	ADP
fbem-8778	29	48	special	special	ADJ
fbem-8778	29	49	false	false	ADJ
fbem-8778	29	50	transfer	transfer	NOUN
fbem-8778	29	51	conditions	condition	NOUN
fbem-8778	29	52	,	,	PUNCT
fbem-8778	29	53	intentional	intentional	ADJ
fbem-8778	29	54	raising	raising	NOUN
fbem-8778	29	55	of	of	ADP
fbem-8778	29	56	prices	price	NOUN
fbem-8778	29	57	,	,	PUNCT
fbem-8778	29	58	etc	etc	X
fbem-8778	29	59	.	.	X
fbem-8778	29	60	,	,	PUNCT
fbem-8778	29	61	which	which	PRON
fbem-8778	29	62	have	have	AUX
fbem-8778	29	63	infringed	infringe	VERB
fbem-8778	29	64	on	on	ADP
fbem-8778	29	65	the	the	DET
fbem-8778	29	66	legitimate	legitimate	ADJ
fbem-8778	29	67	rights	right	NOUN
fbem-8778	29	68	and	and	CCONJ
fbem-8778	29	69	interests	interest	NOUN
fbem-8778	29	70	of	of	ADP
fbem-8778	29	71	investors	investor	NOUN
fbem-8778	29	72	.	.	PUNCT
fbem-8778	30	1	there	there	PRON
fbem-8778	30	2	are	be	VERB
fbem-8778	30	3	also	also	ADV
fbem-8778	30	4	cases	case	NOUN
fbem-8778	30	5	where	where	SCONJ
fbem-8778	30	6	investors	investor	NOUN
fbem-8778	30	7	ignore	ignore	VERB
fbem-8778	30	8	the	the	DET
fbem-8778	30	9	special	special	ADJ
fbem-8778	30	10	relationship	relationship	NOUN
fbem-8778	30	11	between	between	ADP
fbem-8778	30	12	shareholders	shareholder	NOUN
fbem-8778	30	13	and	and	CCONJ
fbem-8778	30	14	third	third	ADJ
fbem-8778	30	15	parties	party	NOUN
fbem-8778	30	16	under	under	ADP
fbem-8778	30	17	the	the	DET
fbem-8778	30	18	same	same	ADJ
fbem-8778	30	19	conditions	condition	NOUN
fbem-8778	30	20	,	,	PUNCT
fbem-8778	30	21	even	even	ADV
fbem-8778	30	22	by	by	ADP
fbem-8778	30	23	demanding	demand	VERB
fbem-8778	30	24	a	a	DET
fbem-8778	30	25	low	low	ADV
fbem-8778	30	26	-	-	PUNCT
fbem-8778	30	27	priced	price	VERB
fbem-8778	30	28	transfer	transfer	NOUN
fbem-8778	30	29	of	of	ADP
fbem-8778	30	30	equity	equity	NOUN
fbem-8778	30	31	,	,	PUNCT
fbem-8778	30	32	it	it	PRON
fbem-8778	30	33	infringes	infringe	VERB
fbem-8778	30	34	on	on	ADP
fbem-8778	30	35	the	the	DET
fbem-8778	30	36	legitimate	legitimate	ADJ
fbem-8778	30	37	rights	right	NOUN
fbem-8778	30	38	and	and	CCONJ
fbem-8778	30	39	interests	interest	NOUN
fbem-8778	30	40	of	of	ADP
fbem-8778	30	41	shareholders	shareholder	NOUN
fbem-8778	30	42	and	and	CCONJ
fbem-8778	30	43	third	third	ADJ
fbem-8778	30	44	parties	party	NOUN
fbem-8778	30	45	,	,	PUNCT
fbem-8778	30	46	disrupts	disrupt	VERB
fbem-8778	30	47	the	the	DET
fbem-8778	30	48	normal	normal	ADJ
fbem-8778	30	49	order	order	NOUN
fbem-8778	30	50	of	of	ADP
fbem-8778	30	51	market	market	NOUN
fbem-8778	30	52	transactions	transaction	NOUN
fbem-8778	30	53	and	and	CCONJ
fbem-8778	30	54	the	the	DET
fbem-8778	30	55	unity	unity	NOUN
fbem-8778	30	56	and	and	CCONJ
fbem-8778	30	57	stability	stability	NOUN
fbem-8778	30	58	within	within	ADP
fbem-8778	30	59	the	the	DET
fbem-8778	30	60	company	company	NOUN
fbem-8778	30	61	.	.	PUNCT
fbem-8778	31	1	therefore	therefore	ADV
fbem-8778	31	2	,	,	PUNCT
fbem-8778	31	3	the	the	DET
fbem-8778	31	4	specific	specific	ADJ
fbem-8778	31	5	recognition	recognition	NOUN
fbem-8778	31	6	of	of	ADP
fbem-8778	31	7	equal	equal	ADJ
fbem-8778	31	8	conditions	condition	NOUN
fbem-8778	31	9	is	be	AUX
fbem-8778	31	10	not	not	PART
fbem-8778	31	11	only	only	ADV
fbem-8778	31	12	of	of	ADP
fbem-8778	31	13	great	great	ADJ
fbem-8778	31	14	significance	significance	NOUN
fbem-8778	31	15	for	for	ADP
fbem-8778	31	16	the	the	DET
fbem-8778	31	17	improvement	improvement	NOUN
fbem-8778	31	18	of	of	ADP
fbem-8778	31	19	the	the	DET
fbem-8778	31	20	law	law	NOUN
fbem-8778	31	21	,	,	PUNCT
fbem-8778	31	22	but	but	CCONJ
fbem-8778	31	23	also	also	ADV
fbem-8778	31	24	for	for	ADP
fbem-8778	31	25	maintaining	maintain	VERB
fbem-8778	31	26	fair	fair	ADJ
fbem-8778	31	27	market	market	NOUN
fbem-8778	31	28	transactions	transaction	NOUN
fbem-8778	31	29	,	,	PUNCT
fbem-8778	31	30	safeguarding	safeguard	VERB
fbem-8778	31	31	the	the	DET
fbem-8778	31	32	legitimate	legitimate	ADJ
fbem-8778	31	33	rights	right	NOUN
fbem-8778	31	34	and	and	CCONJ
fbem-8778	31	35	interests	interest	NOUN
fbem-8778	31	36	of	of	ADP
fbem-8778	31	37	investors	investor	NOUN
fbem-8778	31	38	and	and	CCONJ
fbem-8778	31	39	shareholders	shareholder	NOUN
fbem-8778	31	40	,	,	PUNCT
fbem-8778	31	41	and	and	CCONJ
fbem-8778	31	42	promoting	promote	VERB
fbem-8778	31	43	the	the	DET
fbem-8778	31	44	further	further	ADJ
fbem-8778	31	45	stable	stable	ADJ
fbem-8778	31	46	development	development	NOUN
fbem-8778	31	47	of	of	ADP
fbem-8778	31	48	the	the	DET
fbem-8778	31	49	company	company	NOUN
fbem-8778	31	50	.	.	PUNCT
fbem-8778	32	1	3.2	3.2	NUM
fbem-8778	32	2	.	.	PUNCT
fbem-8778	32	3	restrictions	restriction	NOUN
fbem-8778	32	4	on	on	ADP
fbem-8778	32	5	investor	investor	NOUN
fbem-8778	32	6	equity	equity	NOUN
fbem-8778	32	7	transfer	transfer	NOUN
fbem-8778	32	8	generally	generally	ADV
fbem-8778	32	9	speaking	speak	VERB
fbem-8778	32	10	,	,	PUNCT
fbem-8778	32	11	investment	investment	NOUN
fbem-8778	32	12	agreements	agreement	NOUN
fbem-8778	32	13	explicitly	explicitly	ADV
fbem-8778	32	14	stipulate	stipulate	VERB
fbem-8778	32	15	that	that	SCONJ
fbem-8778	32	16	investors	investor	NOUN
fbem-8778	32	17	do	do	AUX
fbem-8778	32	18	not	not	PART
fbem-8778	32	19	restrict	restrict	VERB
fbem-8778	32	20	the	the	DET
fbem-8778	32	21	transfer	transfer	NOUN
fbem-8778	32	22	of	of	ADP
fbem-8778	32	23	their	their	PRON
fbem-8778	32	24	company	company	NOUN
fbem-8778	32	25	shares	share	NOUN
fbem-8778	32	26	to	to	ADP
fbem-8778	32	27	related	relate	VERB
fbem-8778	32	28	companies	company	NOUN
fbem-8778	32	29	or	or	CCONJ
fbem-8778	32	30	other	other	ADJ
fbem-8778	32	31	third	third	ADJ
fbem-8778	32	32	parties	party	NOUN
fbem-8778	32	33	.	.	PUNCT
fbem-8778	33	1	in	in	ADP
fbem-8778	33	2	this	this	DET
fbem-8778	33	3	case	case	NOUN
fbem-8778	33	4	,	,	PUNCT
fbem-8778	33	5	investors	investor	NOUN
fbem-8778	33	6	may	may	AUX
fbem-8778	33	7	demand	demand	VERB
fbem-8778	33	8	a	a	DET
fbem-8778	33	9	waiver	waiver	NOUN
fbem-8778	33	10	of	of	ADP
fbem-8778	33	11	the	the	DET
fbem-8778	33	12	right	right	NOUN
fbem-8778	33	13	of	of	ADP
fbem-8778	33	14	first	first	ADJ
fbem-8778	33	15	refusal	refusal	NOUN
fbem-8778	33	16	.	.	PUNCT
fbem-8778	34	1	3.3	3.3	NUM
fbem-8778	34	2	.	.	PUNCT
fbem-8778	35	1	exclusions	exclusion	NOUN
fbem-8778	35	2	from	from	ADP
fbem-8778	35	3	the	the	DET
fbem-8778	35	4	right	right	NOUN
fbem-8778	35	5	of	of	ADP
fbem-8778	35	6	first	first	ADJ
fbem-8778	35	7	refusal	refusal	NOUN
fbem-8778	35	8	clause	clause	NOUN
fbem-8778	35	9	it	it	PRON
fbem-8778	35	10	should	should	AUX
fbem-8778	35	11	be	be	AUX
fbem-8778	35	12	noted	note	VERB
fbem-8778	35	13	that	that	SCONJ
fbem-8778	35	14	the	the	DET
fbem-8778	35	15	terms	term	NOUN
fbem-8778	35	16	regarding	regard	VERB
fbem-8778	35	17	the	the	DET
fbem-8778	35	18	investor	investor	NOUN
fbem-8778	35	19	's	's	PART
fbem-8778	35	20	right	right	NOUN
fbem-8778	35	21	of	of	ADP
fbem-8778	35	22	first	first	ADJ
fbem-8778	35	23	refusal	refusal	NOUN
fbem-8778	35	24	should	should	AUX
fbem-8778	35	25	be	be	AUX
fbem-8778	35	26	clearly	clearly	ADV
fbem-8778	35	27	excluded	exclude	VERB
fbem-8778	35	28	:	:	PUNCT
fbem-8778	35	29	(	(	PUNCT
fbem-8778	35	30	1	1	X
fbem-8778	35	31	)	)	PUNCT
fbem-8778	35	32	changes	change	NOUN
fbem-8778	35	33	in	in	ADP
fbem-8778	35	34	equity	equity	NOUN
fbem-8778	35	35	holders	holder	NOUN
fbem-8778	35	36	due	due	ADP
fbem-8778	35	37	to	to	ADP
fbem-8778	35	38	inheritance	inheritance	NOUN
fbem-8778	35	39	;	;	PUNCT
fbem-8778	35	40	(	(	PUNCT
fbem-8778	35	41	2	2	X
fbem-8778	35	42	)	)	PUNCT
fbem-8778	35	43	the	the	DET
fbem-8778	35	44	change	change	NOUN
fbem-8778	35	45	in	in	ADP
fbem-8778	35	46	equity	equity	NOUN
fbem-8778	35	47	ownership	ownership	NOUN
fbem-8778	35	48	within	within	ADP
fbem-8778	35	49	the	the	DET
fbem-8778	35	50	company	company	NOUN
fbem-8778	35	51	that	that	PRON
fbem-8778	35	52	occurs	occur	VERB
fbem-8778	35	53	as	as	ADP
fbem-8778	35	54	a	a	DET
fbem-8778	35	55	form	form	NOUN
fbem-8778	35	56	of	of	ADP
fbem-8778	35	57	reward	reward	NOUN
fbem-8778	35	58	for	for	ADP
fbem-8778	35	59	motivating	motivate	VERB
fbem-8778	35	60	employees	employee	NOUN
fbem-8778	35	61	by	by	ADP
fbem-8778	35	62	transferring	transfer	VERB
fbem-8778	35	63	equity	equity	NOUN
fbem-8778	35	64	to	to	ADP
fbem-8778	35	65	outstanding	outstanding	ADJ
fbem-8778	35	66	employees	employee	NOUN
fbem-8778	35	67	;	;	PUNCT
fbem-8778	35	68	(	(	PUNCT
fbem-8778	35	69	3	3	X
fbem-8778	35	70	)	)	PUNCT
fbem-8778	35	71	the	the	DET
fbem-8778	35	72	investor	investor	NOUN
fbem-8778	35	73	has	have	AUX
fbem-8778	35	74	previously	previously	ADV
fbem-8778	35	75	approved	approve	VERB
fbem-8778	35	76	various	various	ADJ
fbem-8778	35	77	situations	situation	NOUN
fbem-8778	35	78	where	where	SCONJ
fbem-8778	35	79	the	the	DET
fbem-8778	35	80	company	company	NOUN
fbem-8778	35	81	undergoes	undergo	VERB
fbem-8778	35	82	equity	equity	NOUN
fbem-8778	35	83	transfer	transfer	NOUN
fbem-8778	35	84	changes	change	NOUN
fbem-8778	35	85	through	through	ADP
fbem-8778	35	86	written	write	VERB
fbem-8778	35	87	confirmation	confirmation	NOUN
fbem-8778	35	88	.	.	PUNCT
fbem-8778	36	1	4	4	X
fbem-8778	36	2	.	.	X
fbem-8778	36	3	suggestions	suggestion	NOUN
fbem-8778	36	4	for	for	ADP
fbem-8778	36	5	improving	improve	VERB
fbem-8778	36	6	the	the	DET
fbem-8778	36	7	exercise	exercise	NOUN
fbem-8778	36	8	of	of	ADP
fbem-8778	36	9	the	the	DET
fbem-8778	36	10	right	right	NOUN
fbem-8778	36	11	of	of	ADP
fbem-8778	36	12	first	first	ADJ
fbem-8778	36	13	refusal	refusal	NOUN
fbem-8778	36	14	4.1	4.1	NUM
fbem-8778	36	15	.	.	PUNCT
fbem-8778	36	16	clarify	clarify	VERB
fbem-8778	36	17	the	the	DET
fbem-8778	36	18	effectiveness	effectiveness	NOUN
fbem-8778	36	19	of	of	ADP
fbem-8778	36	20	the	the	DET
fbem-8778	36	21	equity	equity	NOUN
fbem-8778	36	22	transfer	transfer	NOUN
fbem-8778	36	23	contract	contract	NOUN
fbem-8778	36	24	from	from	ADP
fbem-8778	36	25	the	the	DET
fbem-8778	36	26	above	above	ADJ
fbem-8778	36	27	analysis	analysis	NOUN
fbem-8778	36	28	and	and	CCONJ
fbem-8778	36	29	relevant	relevant	ADJ
fbem-8778	36	30	judgment	judgment	NOUN
fbem-8778	36	31	cases	case	NOUN
fbem-8778	36	32	,	,	PUNCT
fbem-8778	36	33	it	it	PRON
fbem-8778	36	34	can	can	AUX
fbem-8778	36	35	be	be	AUX
fbem-8778	36	36	seen	see	VERB
fbem-8778	36	37	that	that	SCONJ
fbem-8778	36	38	there	there	PRON
fbem-8778	36	39	are	be	VERB
fbem-8778	36	40	significant	significant	ADJ
fbem-8778	36	41	differences	difference	NOUN
fbem-8778	36	42	in	in	ADP
fbem-8778	36	43	determining	determine	VERB
fbem-8778	36	44	the	the	DET
fbem-8778	36	45	effectiveness	effectiveness	NOUN
fbem-8778	36	46	of	of	ADP
fbem-8778	36	47	this	this	DET
fbem-8778	36	48	transfer	transfer	NOUN
fbem-8778	36	49	contract	contract	NOUN
fbem-8778	36	50	in	in	ADP
fbem-8778	36	51	practical	practical	ADJ
fbem-8778	36	52	application	application	NOUN
fbem-8778	36	53	.	.	PUNCT
fbem-8778	37	1	this	this	DET
fbem-8778	37	2	theoretical	theoretical	ADJ
fbem-8778	37	3	debate	debate	NOUN
fbem-8778	37	4	and	and	CCONJ
fbem-8778	37	5	practical	practical	ADJ
fbem-8778	37	6	divergence	divergence	NOUN
fbem-8778	37	7	reflect	reflect	VERB
fbem-8778	37	8	the	the	DET
fbem-8778	37	9	hierarchical	hierarchical	ADJ
fbem-8778	37	10	nature	nature	NOUN
fbem-8778	37	11	of	of	ADP
fbem-8778	37	12	the	the	DET
fbem-8778	37	13	effectiveness	effectiveness	NOUN
fbem-8778	37	14	of	of	ADP
fbem-8778	37	15	equity	equity	NOUN
fbem-8778	37	16	transfer	transfer	NOUN
fbem-8778	37	17	.	.	PUNCT
fbem-8778	38	1	the	the	DET
fbem-8778	38	2	effectiveness	effectiveness	NOUN
fbem-8778	38	3	of	of	ADP
fbem-8778	38	4	equity	equity	NOUN
fbem-8778	38	5	transfer	transfer	NOUN
fbem-8778	38	6	contracts	contract	NOUN
fbem-8778	38	7	is	be	AUX
fbem-8778	38	8	different	different	ADJ
fbem-8778	38	9	from	from	ADP
fbem-8778	38	10	that	that	PRON
fbem-8778	38	11	of	of	ADP
fbem-8778	38	12	equity	equity	NOUN
fbem-8778	38	13	changes	change	NOUN
fbem-8778	38	14	.	.	PUNCT
fbem-8778	39	1	the	the	DET
fbem-8778	39	2	legal	legal	ADJ
fbem-8778	39	3	relationship	relationship	NOUN
fbem-8778	39	4	of	of	ADP
fbem-8778	39	5	the	the	DET
fbem-8778	39	6	equity	equity	NOUN
fbem-8778	39	7	transfer	transfer	NOUN
fbem-8778	39	8	contract	contract	NOUN
fbem-8778	39	9	between	between	ADP
fbem-8778	39	10	the	the	DET
fbem-8778	39	11	transferring	transferring	NOUN
fbem-8778	39	12	shareholder	shareholder	NOUN
fbem-8778	39	13	and	and	CCONJ
fbem-8778	39	14	an	an	DET
fbem-8778	39	15	external	external	ADJ
fbem-8778	39	16	third	third	ADJ
fbem-8778	39	17	party	party	NOUN
fbem-8778	39	18	shall	shall	AUX
fbem-8778	39	19	be	be	AUX
fbem-8778	39	20	recognized	recognize	VERB
fbem-8778	39	21	as	as	ADP
fbem-8778	39	22	effective	effective	ADJ
fbem-8778	39	23	from	from	ADP
fbem-8778	39	24	the	the	DET
fbem-8778	39	25	date	date	NOUN
fbem-8778	39	26	of	of	ADP
fbem-8778	39	27	its	its	PRON
fbem-8778	39	28	establishment	establishment	NOUN
fbem-8778	39	29	in	in	ADP
fbem-8778	39	30	accordance	accordance	NOUN
fbem-8778	39	31	with	with	ADP
fbem-8778	39	32	the	the	DET
fbem-8778	39	33	law	law	NOUN
fbem-8778	39	34	.	.	PUNCT
fbem-8778	40	1	after	after	SCONJ
fbem-8778	40	2	the	the	DET
fbem-8778	40	3	contract	contract	NOUN
fbem-8778	40	4	is	be	AUX
fbem-8778	40	5	confirmed	confirm	VERB
fbem-8778	40	6	to	to	PART
fbem-8778	40	7	take	take	VERB
fbem-8778	40	8	effect	effect	NOUN
fbem-8778	40	9	,	,	PUNCT
fbem-8778	40	10	both	both	DET
fbem-8778	40	11	parties	party	NOUN
fbem-8778	40	12	shall	shall	AUX
fbem-8778	40	13	fulfill	fulfill	VERB
fbem-8778	40	14	their	their	PRON
fbem-8778	40	15	respective	respective	ADJ
fbem-8778	40	16	obligations	obligation	NOUN
fbem-8778	40	17	in	in	ADP
fbem-8778	40	18	accordance	accordance	NOUN
fbem-8778	40	19	with	with	ADP
fbem-8778	40	20	the	the	DET
fbem-8778	40	21	contract	contract	NOUN
fbem-8778	40	22	.	.	PUNCT
fbem-8778	41	1	the	the	DET
fbem-8778	41	2	effectiveness	effectiveness	NOUN
fbem-8778	41	3	of	of	ADP
fbem-8778	41	4	equity	equity	NOUN
fbem-8778	41	5	changes	change	NOUN
fbem-8778	41	6	depends	depend	VERB
fbem-8778	41	7	on	on	ADP
fbem-8778	41	8	the	the	DET
fbem-8778	41	9	specific	specific	ADJ
fbem-8778	41	10	relevant	relevant	ADJ
fbem-8778	41	11	provisions	provision	NOUN
fbem-8778	41	12	of	of	ADP
fbem-8778	41	13	the	the	DET
fbem-8778	41	14	contract	contract	NOUN
fbem-8778	41	15	agreement	agreement	NOUN
fbem-8778	41	16	between	between	ADP
fbem-8778	41	17	both	both	DET
fbem-8778	41	18	parties	party	NOUN
fbem-8778	41	19	and	and	CCONJ
fbem-8778	41	20	the	the	DET
fbem-8778	41	21	specific	specific	ADJ
fbem-8778	41	22	performance	performance	NOUN
fbem-8778	41	23	results	result	NOUN
fbem-8778	41	24	of	of	ADP
fbem-8778	41	25	the	the	DET
fbem-8778	41	26	contractual	contractual	ADJ
fbem-8778	41	27	agreements	agreement	NOUN
fbem-8778	41	28	.	.	PUNCT
fbem-8778	42	1	as	as	ADP
fbem-8778	42	2	for	for	ADP
fbem-8778	42	3	the	the	DET
fbem-8778	42	4	contracts	contract	NOUN
fbem-8778	42	5	signed	sign	VERB
fbem-8778	42	6	between	between	ADP
fbem-8778	42	7	the	the	DET
fbem-8778	42	8	third	third	ADJ
fbem-8778	42	9	party	party	NOUN
fbem-8778	42	10	and	and	CCONJ
fbem-8778	42	11	the	the	DET
fbem-8778	42	12	transferring	transferring	NOUN
fbem-8778	42	13	shareholder	shareholder	NOUN
fbem-8778	42	14	,	,	PUNCT
fbem-8778	42	15	adjustments	adjustment	NOUN
fbem-8778	42	16	should	should	AUX
fbem-8778	42	17	be	be	AUX
fbem-8778	42	18	made	make	VERB
fbem-8778	42	19	in	in	ADP
fbem-8778	42	20	accordance	accordance	NOUN
fbem-8778	42	21	with	with	ADP
fbem-8778	42	22	the	the	DET
fbem-8778	42	23	relevant	relevant	ADJ
fbem-8778	42	24	provisions	provision	NOUN
fbem-8778	42	25	of	of	ADP
fbem-8778	42	26	the	the	DET
fbem-8778	42	27	contract	contract	NOUN
fbem-8778	42	28	law	law	NOUN
fbem-8778	42	29	.	.	PUNCT
fbem-8778	43	1	there	there	PRON
fbem-8778	43	2	is	be	VERB
fbem-8778	43	3	a	a	DET
fbem-8778	43	4	certain	certain	ADJ
fbem-8778	43	5	separation	separation	NOUN
fbem-8778	43	6	between	between	ADP
fbem-8778	43	7	the	the	DET
fbem-8778	43	8	effectiveness	effectiveness	NOUN
fbem-8778	43	9	of	of	ADP
fbem-8778	43	10	equity	equity	NOUN
fbem-8778	43	11	transfer	transfer	NOUN
fbem-8778	43	12	contracts	contract	NOUN
fbem-8778	43	13	and	and	CCONJ
fbem-8778	43	14	changes	change	NOUN
fbem-8778	43	15	in	in	ADP
fbem-8778	43	16	equity	equity	NOUN
fbem-8778	43	17	,	,	PUNCT
fbem-8778	43	18	and	and	CCONJ
fbem-8778	43	19	the	the	DET
fbem-8778	43	20	company	company	NOUN
fbem-8778	43	21	law	law	NOUN
fbem-8778	43	22	does	do	AUX
fbem-8778	43	23	not	not	PART
fbem-8778	43	24	exclude	exclude	VERB
fbem-8778	43	25	the	the	DET
fbem-8778	43	26	application	application	NOUN
fbem-8778	43	27	of	of	ADP
fbem-8778	43	28	the	the	DET
fbem-8778	43	29	contract	contract	NOUN
fbem-8778	43	30	law	law	NOUN
fbem-8778	43	31	.	.	PUNCT
fbem-8778	44	1	4.2	4.2	NUM
fbem-8778	44	2	.	.	PUNCT
fbem-8778	44	3	changes	change	NOUN
fbem-8778	44	4	and	and	CCONJ
fbem-8778	44	5	determination	determination	NOUN
fbem-8778	44	6	of	of	ADP
fbem-8778	44	7	"	"	PUNCT
fbem-8778	44	8	equal	equal	ADJ
fbem-8778	44	9	conditions	condition	NOUN
fbem-8778	44	10	"	"	PUNCT
fbem-8778	44	11	in	in	ADP
fbem-8778	44	12	the	the	DET
fbem-8778	44	13	litigation	litigation	NOUN
fbem-8778	44	14	process	process	NOUN
fbem-8778	44	15	when	when	SCONJ
fbem-8778	44	16	exploring	explore	VERB
fbem-8778	44	17	investors	investor	NOUN
fbem-8778	44	18	'	'	PART
fbem-8778	44	19	right	right	NOUN
fbem-8778	44	20	of	of	ADP
fbem-8778	44	21	first	first	ADJ
fbem-8778	44	22	refusal	refusal	NOUN
fbem-8778	44	23	,	,	PUNCT
fbem-8778	44	24	it	it	PRON
fbem-8778	44	25	is	be	AUX
fbem-8778	44	26	necessary	necessary	ADJ
fbem-8778	44	27	to	to	PART
fbem-8778	44	28	clarify	clarify	VERB
fbem-8778	44	29	that	that	SCONJ
fbem-8778	44	30	the	the	DET
fbem-8778	44	31	premise	premise	NOUN
fbem-8778	44	32	for	for	ADP
fbem-8778	44	33	the	the	DET
fbem-8778	44	34	existence	existence	NOUN
fbem-8778	44	35	of	of	ADP
fbem-8778	44	36	this	this	DET
fbem-8778	44	37	right	right	NOUN
fbem-8778	44	38	is	be	AUX
fbem-8778	44	39	equal	equal	ADJ
fbem-8778	44	40	trading	trading	NOUN
fbem-8778	44	41	.	.	PUNCT
fbem-8778	45	1	in	in	ADP
fbem-8778	45	2	the	the	DET
fbem-8778	45	3	exercise	exercise	NOUN
fbem-8778	45	4	of	of	ADP
fbem-8778	45	5	this	this	DET
fbem-8778	45	6	right	right	NOUN
fbem-8778	45	7	in	in	ADP
fbem-8778	45	8	litigation	litigation	NOUN
fbem-8778	45	9	,	,	PUNCT
fbem-8778	45	10	as	as	ADP
fbem-8778	45	11	an	an	DET
fbem-8778	45	12	important	important	ADJ
fbem-8778	45	13	part	part	NOUN
fbem-8778	45	14	of	of	ADP
fbem-8778	45	15	factual	factual	ADJ
fbem-8778	45	16	investigation	investigation	NOUN
fbem-8778	45	17	,	,	PUNCT
fbem-8778	45	18	it	it	PRON
fbem-8778	45	19	is	be	AUX
fbem-8778	45	20	crucial	crucial	ADJ
fbem-8778	45	21	to	to	PART
fbem-8778	45	22	determine	determine	VERB
fbem-8778	45	23	the	the	DET
fbem-8778	45	24	conditions	condition	NOUN
fbem-8778	45	25	of	of	ADP
fbem-8778	45	26	equality	equality	NOUN
fbem-8778	45	27	.	.	PUNCT
fbem-8778	46	1	in	in	ADP
fbem-8778	46	2	general	general	ADJ
fbem-8778	46	3	civil	civil	ADJ
fbem-8778	46	4	cases	case	NOUN
fbem-8778	46	5	,	,	PUNCT
fbem-8778	46	6	a	a	DET
fbem-8778	46	7	factual	factual	ADJ
fbem-8778	46	8	investigation	investigation	NOUN
fbem-8778	46	9	must	must	AUX
fbem-8778	46	10	be	be	AUX
fbem-8778	46	11	completed	complete	VERB
fbem-8778	46	12	before	before	ADP
fbem-8778	46	13	prosecution	prosecution	NOUN
fbem-8778	46	14	.	.	PUNCT
fbem-8778	47	1	in	in	ADP
fbem-8778	47	2	the	the	DET
fbem-8778	47	3	case	case	NOUN
fbem-8778	47	4	of	of	ADP
fbem-8778	47	5	investors	investor	NOUN
fbem-8778	47	6	'	'	PART
fbem-8778	47	7	right	right	NOUN
fbem-8778	47	8	of	of	ADP
fbem-8778	47	9	first	first	ADJ
fbem-8778	47	10	refusal	refusal	NOUN
fbem-8778	47	11	,	,	PUNCT
fbem-8778	47	12	requesting	request	VERB
fbem-8778	47	13	the	the	DET
fbem-8778	47	14	right	right	NOUN
fbem-8778	47	15	of	of	ADP
fbem-8778	47	16	first	first	ADJ
fbem-8778	47	17	refusal	refusal	NOUN
fbem-8778	47	18	actually	actually	ADV
fbem-8778	47	19	leads	lead	VERB
fbem-8778	47	20	to	to	ADP
fbem-8778	47	21	a	a	DET
fbem-8778	47	22	game	game	NOUN
fbem-8778	47	23	between	between	ADP
fbem-8778	47	24	the	the	DET
fbem-8778	47	25	relevant	relevant	ADJ
fbem-8778	47	26	parties	party	NOUN
fbem-8778	47	27	claiming	claim	VERB
fbem-8778	47	28	the	the	DET
fbem-8778	47	29	right	right	NOUN
fbem-8778	47	30	,	,	PUNCT
fbem-8778	47	31	so	so	ADV
fbem-8778	47	32	it	it	PRON
fbem-8778	47	33	is	be	AUX
fbem-8778	47	34	reasonable	reasonable	ADJ
fbem-8778	47	35	for	for	ADP
fbem-8778	47	36	the	the	DET
fbem-8778	47	37	conditions	condition	NOUN
fbem-8778	47	38	for	for	ADP
fbem-8778	47	39	equity	equity	NOUN
fbem-8778	47	40	transfer	transfer	NOUN
fbem-8778	47	41	to	to	PART
fbem-8778	47	42	change	change	VERB
fbem-8778	47	43	.	.	PUNCT
fbem-8778	48	1	the	the	DET
fbem-8778	48	2	company	company	NOUN
fbem-8778	48	3	law	law	NOUN
fbem-8778	48	4	of	of	ADP
fbem-8778	48	5	our	our	PRON
fbem-8778	48	6	country	country	NOUN
fbem-8778	48	7	does	do	AUX
fbem-8778	48	8	not	not	PART
fbem-8778	48	9	limit	limit	VERB
fbem-8778	48	10	the	the	DET
fbem-8778	48	11	final	final	ADJ
fbem-8778	48	12	determination	determination	NOUN
fbem-8778	48	13	time	time	NOUN
fbem-8778	48	14	of	of	ADP
fbem-8778	48	15	the	the	DET
fbem-8778	48	16	purchase	purchase	NOUN
fbem-8778	48	17	conditions	condition	NOUN
fbem-8778	48	18	,	,	PUNCT
fbem-8778	48	19	that	that	ADV
fbem-8778	48	20	is	is	ADV
fbem-8778	48	21	,	,	PUNCT
fbem-8778	48	22	the	the	DET
fbem-8778	48	23	"	"	PUNCT
fbem-8778	48	24	equal	equal	ADJ
fbem-8778	48	25	conditions	condition	NOUN
fbem-8778	48	26	"	"	PUNCT
fbem-8778	48	27	,	,	PUNCT
fbem-8778	48	28	which	which	PRON
fbem-8778	48	29	may	may	AUX
fbem-8778	48	30	extend	extend	VERB
fbem-8778	48	31	the	the	DET
fbem-8778	48	32	purchase	purchase	NOUN
fbem-8778	48	33	conditions	condition	NOUN
fbem-8778	48	34	of	of	ADP
fbem-8778	48	35	the	the	DET
fbem-8778	48	36	transferee	transferee	NOUN
fbem-8778	48	37	to	to	ADP
fbem-8778	48	38	litigation	litigation	NOUN
fbem-8778	48	39	proceedings	proceeding	NOUN
fbem-8778	48	40	,	,	PUNCT
fbem-8778	48	41	thus	thus	ADV
fbem-8778	48	42	causing	cause	VERB
fbem-8778	48	43	the	the	DET
fbem-8778	48	44	transferee	transferee	NOUN
fbem-8778	48	45	to	to	PART
fbem-8778	48	46	compete	compete	VERB
fbem-8778	48	47	with	with	ADP
fbem-8778	48	48	other	other	ADJ
fbem-8778	48	49	shareholders	shareholder	NOUN
fbem-8778	48	50	on	on	ADP
fbem-8778	48	51	the	the	DET
fbem-8778	48	52	purchase	purchase	NOUN
fbem-8778	48	53	conditions	condition	NOUN
fbem-8778	48	54	.	.	PUNCT
fbem-8778	49	1	at	at	ADP
fbem-8778	49	2	this	this	DET
fbem-8778	49	3	point	point	NOUN
fbem-8778	49	4	,	,	PUNCT
fbem-8778	49	5	rejecting	reject	VERB
fbem-8778	49	6	bids	bid	NOUN
fbem-8778	49	7	is	be	AUX
fbem-8778	49	8	not	not	PART
fbem-8778	49	9	conducive	conducive	ADJ
fbem-8778	49	10	to	to	ADP
fbem-8778	49	11	achieving	achieve	VERB
fbem-8778	49	12	the	the	DET
fbem-8778	49	13	maximum	maximum	ADJ
fbem-8778	49	14	interests	interest	NOUN
fbem-8778	49	15	of	of	ADP
fbem-8778	49	16	shareholders	shareholder	NOUN
fbem-8778	49	17	,	,	PUNCT
fbem-8778	49	18	and	and	CCONJ
fbem-8778	49	19	it	it	PRON
fbem-8778	49	20	also	also	ADV
fbem-8778	49	21	does	do	AUX
fbem-8778	49	22	not	not	PART
fbem-8778	49	23	comply	comply	VERB
fbem-8778	49	24	with	with	ADP
fbem-8778	49	25	the	the	DET
fbem-8778	49	26	laws	law	NOUN
fbem-8778	49	27	of	of	ADP
fbem-8778	49	28	market	market	NOUN
fbem-8778	49	29	economy	economy	NOUN
fbem-8778	49	30	.	.	PUNCT
fbem-8778	50	1	therefore	therefore	ADV
fbem-8778	50	2	,	,	PUNCT
fbem-8778	50	3	china	china	PROPN
fbem-8778	50	4	's	's	PART
fbem-8778	50	5	legislative	legislative	ADJ
fbem-8778	50	6	and	and	CCONJ
fbem-8778	50	7	judicial	judicial	ADJ
fbem-8778	50	8	departments	department	NOUN
fbem-8778	50	9	should	should	AUX
fbem-8778	50	10	actively	actively	ADV
fbem-8778	50	11	improve	improve	VERB
fbem-8778	50	12	relevant	relevant	ADJ
fbem-8778	50	13	measures	measure	NOUN
fbem-8778	50	14	to	to	PART
fbem-8778	50	15	make	make	VERB
fbem-8778	50	16	investors	investor	NOUN
fbem-8778	50	17	'	'	PART
fbem-8778	50	18	right	right	NOUN
fbem-8778	50	19	of	of	ADP
fbem-8778	50	20	first	first	ADJ
fbem-8778	50	21	refusal	refusal	NOUN
fbem-8778	50	22	more	more	ADV
fbem-8778	50	23	operational	operational	ADJ
fbem-8778	50	24	in	in	ADP
fbem-8778	50	25	practical	practical	ADJ
fbem-8778	50	26	affairs	affair	NOUN
fbem-8778	50	27	.	.	PUNCT
fbem-8778	51	1	4.3	4.3	NUM
fbem-8778	51	2	.	.	PUNCT
fbem-8778	52	1	clarify	clarify	VERB
fbem-8778	52	2	the	the	DET
fbem-8778	52	3	responsibility	responsibility	NOUN
fbem-8778	52	4	for	for	ADP
fbem-8778	52	5	abusing	abuse	VERB
fbem-8778	52	6	the	the	DET
fbem-8778	52	7	right	right	NOUN
fbem-8778	52	8	of	of	ADP
fbem-8778	52	9	first	first	ADJ
fbem-8778	52	10	refusal	refusal	NOUN
fbem-8778	52	11	in	in	ADP
fbem-8778	52	12	the	the	DET
fbem-8778	52	13	case	case	NOUN
fbem-8778	52	14	of	of	ADP
fbem-8778	52	15	infringement	infringement	NOUN
fbem-8778	52	16	of	of	ADP
fbem-8778	52	17	the	the	DET
fbem-8778	52	18	investor	investor	NOUN
fbem-8778	52	19	's	's	PART
fbem-8778	52	20	right	right	NOUN
fbem-8778	52	21	of	of	ADP
fbem-8778	52	22	first	first	ADJ
fbem-8778	52	23	refusal	refusal	NOUN
fbem-8778	52	24	,	,	PUNCT
fbem-8778	52	25	it	it	PRON
fbem-8778	52	26	can	can	AUX
fbem-8778	52	27	be	be	AUX
fbem-8778	52	28	understood	understand	VERB
fbem-8778	52	29	that	that	SCONJ
fbem-8778	52	30	the	the	DET
fbem-8778	52	31	right	right	ADJ
fbem-8778	52	32	holder	holder	NOUN
fbem-8778	52	33	exercises	exercise	VERB
fbem-8778	52	34	the	the	DET
fbem-8778	52	35	right	right	NOUN
fbem-8778	52	36	to	to	PART
fbem-8778	52	37	protect	protect	VERB
fbem-8778	52	38	their	their	PRON
fbem-8778	52	39	own	own	ADJ
fbem-8778	52	40	interests	interest	NOUN
fbem-8778	52	41	and	and	CCONJ
fbem-8778	52	42	pursue	pursue	VERB
fbem-8778	52	43	the	the	DET
fbem-8778	52	44	maximization	maximization	NOUN
fbem-8778	52	45	of	of	ADP
fbem-8778	52	46	their	their	PRON
fbem-8778	52	47	own	own	ADJ
fbem-8778	52	48	interests	interest	NOUN
fbem-8778	52	49	.	.	PUNCT
fbem-8778	53	1	but	but	CCONJ
fbem-8778	53	2	if	if	SCONJ
fbem-8778	53	3	the	the	DET
fbem-8778	53	4	rights	right	NOUN
fbem-8778	53	5	holder	holder	NOUN
fbem-8778	53	6	abuses	abuse	VERB
fbem-8778	53	7	their	their	PRON
fbem-8778	53	8	rights	right	NOUN
fbem-8778	53	9	and	and	CCONJ
fbem-8778	53	10	maliciously	maliciously	ADV
fbem-8778	53	11	prevents	prevent	VERB
fbem-8778	53	12	shareholders	shareholder	NOUN
fbem-8778	53	13	from	from	ADP
fbem-8778	53	14	transferring	transfer	VERB
fbem-8778	53	15	their	their	PRON
fbem-8778	53	16	equity	equity	NOUN
fbem-8778	53	17	,	,	PUNCT
fbem-8778	53	18	it	it	PRON
fbem-8778	53	19	will	will	AUX
fbem-8778	53	20	be	be	AUX
fbem-8778	53	21	an	an	DET
fbem-8778	53	22	act	act	NOUN
fbem-8778	53	23	of	of	ADP
fbem-8778	53	24	infinitely	infinitely	ADV
fbem-8778	53	25	expanding	expand	VERB
fbem-8778	53	26	the	the	DET
fbem-8778	53	27	boundaries	boundary	NOUN
fbem-8778	53	28	of	of	ADP
fbem-8778	53	29	rights	right	NOUN
fbem-8778	53	30	.	.	PUNCT
fbem-8778	54	1	if	if	SCONJ
fbem-8778	54	2	an	an	DET
fbem-8778	54	3	investor	investor	NOUN
fbem-8778	54	4	abuses	abuse	VERB
fbem-8778	54	5	their	their	PRON
fbem-8778	54	6	right	right	NOUN
fbem-8778	54	7	of	of	ADP
fbem-8778	54	8	first	first	ADJ
fbem-8778	54	9	refusal	refusal	NOUN
fbem-8778	54	10	,	,	PUNCT
fbem-8778	54	11	it	it	PRON
fbem-8778	54	12	naturally	naturally	ADV
fbem-8778	54	13	violates	violate	VERB
fbem-8778	54	14	the	the	DET
fbem-8778	54	15	principle	principle	NOUN
fbem-8778	54	16	of	of	ADP
fbem-8778	54	17	good	good	ADJ
fbem-8778	54	18	faith	faith	NOUN
fbem-8778	54	19	.	.	PUNCT
fbem-8778	55	1	however	however	ADV
fbem-8778	55	2	,	,	PUNCT
fbem-8778	55	3	china	china	PROPN
fbem-8778	55	4	's	's	PART
fbem-8778	55	5	laws	law	NOUN
fbem-8778	55	6	do	do	AUX
fbem-8778	55	7	not	not	PART
fbem-8778	55	8	clearly	clearly	ADV
fbem-8778	55	9	stipulate	stipulate	VERB
fbem-8778	55	10	the	the	DET
fbem-8778	55	11	legal	legal	ADJ
fbem-8778	55	12	responsibility	responsibility	NOUN
fbem-8778	55	13	of	of	ADP
fbem-8778	55	14	investors	investor	NOUN
fbem-8778	55	15	for	for	ADP
fbem-8778	55	16	abusing	abuse	VERB
fbem-8778	55	17	the	the	DET
fbem-8778	55	18	right	right	NOUN
fbem-8778	55	19	of	of	ADP
fbem-8778	55	20	first	first	ADJ
fbem-8778	55	21	refusal	refusal	NOUN
fbem-8778	55	22	,	,	PUNCT
fbem-8778	55	23	resulting	result	VERB
fbem-8778	55	24	in	in	ADP
fbem-8778	55	25	a	a	DET
fbem-8778	55	26	reduction	reduction	NOUN
fbem-8778	55	27	in	in	ADP
fbem-8778	55	28	the	the	DET
fbem-8778	55	29	cost	cost	NOUN
fbem-8778	55	30	of	of	ADP
fbem-8778	55	31	abusing	abuse	VERB
fbem-8778	55	32	the	the	DET
fbem-8778	55	33	right	right	NOUN
fbem-8778	55	34	of	of	ADP
fbem-8778	55	35	first	first	ADJ
fbem-8778	55	36	refusal	refusal	NOUN
fbem-8778	55	37	,	,	PUNCT
fbem-8778	55	38	and	and	CCONJ
fbem-8778	55	39	to	to	ADP
fbem-8778	55	40	a	a	DET
fbem-8778	55	41	certain	certain	ADJ
fbem-8778	55	42	extent	extent	NOUN
fbem-8778	55	43	,	,	PUNCT
fbem-8778	55	44	causing	cause	VERB
fbem-8778	55	45	negative	negative	ADJ
fbem-8778	55	46	effects	effect	NOUN
fbem-8778	55	47	and	and	CCONJ
fbem-8778	55	48	consequences	consequence	NOUN
fbem-8778	55	49	of	of	ADP
fbem-8778	55	50	condoning	condone	VERB
fbem-8778	55	51	investors	investor	NOUN
fbem-8778	55	52	'	'	PART
fbem-8778	55	53	abuse	abuse	NOUN
fbem-8778	55	54	of	of	ADP
fbem-8778	55	55	their	their	PRON
fbem-8778	55	56	rights	right	NOUN
fbem-8778	55	57	.	.	PUNCT
fbem-8778	56	1	the	the	DET
fbem-8778	56	2	abuse	abuse	NOUN
fbem-8778	56	3	of	of	ADP
fbem-8778	56	4	rights	right	NOUN
fbem-8778	56	5	by	by	ADP
fbem-8778	56	6	rights	right	NOUN
fbem-8778	56	7	holders	holder	NOUN
fbem-8778	56	8	not	not	PART
fbem-8778	56	9	only	only	ADV
fbem-8778	56	10	harms	harm	VERB
fbem-8778	56	11	the	the	DET
fbem-8778	56	12	interests	interest	NOUN
fbem-8778	56	13	of	of	ADP
fbem-8778	56	14	the	the	DET
fbem-8778	56	15	transferring	transfer	VERB
fbem-8778	56	16	shareholders	shareholder	NOUN
fbem-8778	56	17	and	and	CCONJ
fbem-8778	56	18	third	third	ADJ
fbem-8778	56	19	parties	party	NOUN
fbem-8778	56	20	,	,	PUNCT
fbem-8778	56	21	but	but	CCONJ
fbem-8778	56	22	also	also	ADV
fbem-8778	56	23	prevents	prevent	VERB
fbem-8778	56	24	them	they	PRON
fbem-8778	56	25	from	from	ADP
fbem-8778	56	26	receiving	receive	VERB
fbem-8778	56	27	necessary	necessary	ADJ
fbem-8778	56	28	punishment	punishment	NOUN
fbem-8778	56	29	if	if	SCONJ
fbem-8778	56	30	the	the	DET
fbem-8778	56	31	transferring	transfer	VERB
fbem-8778	56	32	shareholders	shareholder	NOUN
fbem-8778	56	33	or	or	CCONJ
fbem-8778	56	34	third	third	ADJ
fbem-8778	56	35	parties	party	NOUN
fbem-8778	56	36	invest	invest	VERB
fbem-8778	56	37	a	a	DET
fbem-8778	56	38	large	large	ADJ
fbem-8778	56	39	amount	amount	NOUN
fbem-8778	56	40	of	of	ADP
fbem-8778	56	41	manpower	manpower	NOUN
fbem-8778	56	42	and	and	CCONJ
fbem-8778	56	43	resources	resource	NOUN
fbem-8778	56	44	to	to	PART
fbem-8778	56	45	achieve	achieve	VERB
fbem-8778	56	46	the	the	DET
fbem-8778	56	47	purpose	purpose	NOUN
fbem-8778	56	48	of	of	ADP
fbem-8778	56	49	equity	equity	NOUN
fbem-8778	56	50	transfer	transfer	NOUN
fbem-8778	56	51	.	.	PUNCT
fbem-8778	57	1	this	this	PRON
fbem-8778	57	2	is	be	AUX
fbem-8778	57	3	clearly	clearly	ADV
fbem-8778	57	4	unfair	unfair	ADJ
fbem-8778	57	5	.	.	PUNCT
fbem-8778	58	1	acknowledgment	acknowledgment	NOUN
fbem-8778	58	2	this	this	DET
fbem-8778	58	3	research	research	NOUN
fbem-8778	58	4	is	be	AUX
fbem-8778	58	5	funded	fund	VERB
fbem-8778	58	6	by	by	ADP
fbem-8778	58	7	2023	2023	NUM
fbem-8778	58	8	anhui	anhui	PROPN
fbem-8778	58	9	university	university	PROPN
fbem-8778	58	10	of	of	ADP
fbem-8778	58	11	finance	finance	PROPN
fbem-8778	58	12	and	and	CCONJ
fbem-8778	58	13	economics	economic	NOUN
fbem-8778	58	14	undergraduate	undergraduate	PROPN
fbem-8778	58	15	research	research	NOUN
fbem-8778	58	16	innovation	innovation	NOUN
fbem-8778	58	17	fund	fund	NOUN
fbem-8778	58	18	project	project	NOUN
fbem-8778	58	19	(	(	PUNCT
fbem-8778	58	20	no	no	INTJ
fbem-8778	58	21	.	.	PUNCT
fbem-8778	58	22	:	:	PUNCT
fbem-8778	59	1	xsky23046zd	xsky23046zd	PROPN
fbem-8778	59	2	)	)	PUNCT
fbem-8778	59	3	.	.	PUNCT
fbem-8778	60	1	349	349	NUM
fbem-8778	60	2	references	reference	NOUN
fbem-8778	60	3	[	[	X
fbem-8778	60	4	1	1	NUM
fbem-8778	60	5	]	]	X
fbem-8778	60	6	sun	sun	PROPN
fbem-8778	60	7	ling	ling	PROPN
fbem-8778	60	8	.	.	PUNCT
fbem-8778	61	1	research	research	NOUN
fbem-8778	61	2	on	on	ADP
fbem-8778	61	3	the	the	DET
fbem-8778	61	4	preemptive	preemptive	ADJ
fbem-8778	61	5	right	right	NOUN
fbem-8778	61	6	of	of	ADP
fbem-8778	61	7	shareholders	shareholder	NOUN
fbem-8778	61	8	of	of	ADP
fbem-8778	61	9	limited	limited	ADJ
fbem-8778	61	10	liability	liability	NOUN
fbem-8778	61	11	companies	company	NOUN
fbem-8778	62	1	[	[	X
fbem-8778	62	2	d	d	X
fbem-8778	62	3	]	]	X
fbem-8778	62	4	.	.	PUNCT
fbem-8778	63	1	hunan	hunan	PROPN
fbem-8778	63	2	university	university	PROPN
fbem-8778	63	3	of	of	ADP
fbem-8778	63	4	technology	technology	NOUN
fbem-8778	63	5	,	,	PUNCT
fbem-8778	63	6	2015	2015	NUM
fbem-8778	63	7	.	.	PUNCT
fbem-8778	64	1	[	[	X
fbem-8778	64	2	2	2	NUM
fbem-8778	64	3	]	]	PUNCT
fbem-8778	64	4	zhang	zhang	PROPN
fbem-8778	64	5	mingruo	mingruo	PROPN
fbem-8778	64	6	et	et	PROPN
fbem-8778	64	7	al	al	PROPN
fbem-8778	64	8	.	.	PUNCT
fbem-8778	65	1	institutional	institutional	ADJ
fbem-8778	65	2	innovation	innovation	NOUN
fbem-8778	65	3	of	of	ADP
fbem-8778	65	4	venture	venture	NOUN
fbem-8778	65	5	capital	capital	NOUN
fbem-8778	65	6	model	model	NOUN
fbem-8778	65	7	and	and	CCONJ
fbem-8778	65	8	rational	rational	ADJ
fbem-8778	65	9	regression	regression	NOUN
fbem-8778	65	10	of	of	ADP
fbem-8778	65	11	human	human	ADJ
fbem-8778	65	12	capital	capital	NOUN
fbem-8778	65	13	value	value	NOUN
fbem-8778	65	14	in	in	ADP
fbem-8778	65	15	company	company	NOUN
fbem-8778	65	16	law	law	NOUN
fbem-8778	66	1	[	[	X
fbem-8778	67	1	m	m	X
fbem-8778	67	2	]	]	X
fbem-8778	67	3	.	.	PUNCT
fbem-8778	68	1	beijing	beijing	PROPN
fbem-8778	68	2	law	law	PROPN
fbem-8778	68	3	press	press	NOUN
fbem-8778	68	4	,	,	PUNCT
fbem-8778	68	5	2016	2016	NUM
fbem-8778	68	6	.	.	PUNCT
fbem-8778	69	1	[	[	X
fbem-8778	69	2	3	3	X
fbem-8778	69	3	]	]	X
fbem-8778	69	4	yang	yang	PROPN
fbem-8778	69	5	xin	xin	PROPN
fbem-8778	69	6	.	.	PUNCT
fbem-8778	70	1	research	research	NOUN
fbem-8778	70	2	on	on	ADP
fbem-8778	70	3	equity	equity	NOUN
fbem-8778	70	4	transfer	transfer	NOUN
fbem-8778	70	5	restrictions	restriction	NOUN
fbem-8778	70	6	of	of	ADP
fbem-8778	70	7	limited	limited	ADJ
fbem-8778	70	8	liability	liability	NOUN
fbem-8778	70	9	companies	company	NOUN
fbem-8778	70	10	[	[	X
fbem-8778	70	11	m	m	X
fbem-8778	70	12	]	]	X
fbem-8778	70	13	.	.	PUNCT
fbem-8778	71	1	china	china	PROPN
fbem-8778	71	2	social	social	PROPN
fbem-8778	71	3	sciences	sciences	PROPN
fbem-8778	71	4	press	press	NOUN
fbem-8778	71	5	,	,	PUNCT
fbem-8778	71	6	2017	2017	NUM
fbem-8778	71	7	.	.	PUNCT
fbem-8778	72	1	[	[	X
fbem-8778	72	2	4	4	X
fbem-8778	72	3	]	]	X
fbem-8778	72	4	lei	lei	PROPN
fbem-8778	72	5	ting	ting	PROPN
fbem-8778	72	6	.	.	PUNCT
fbem-8778	73	1	the	the	DET
fbem-8778	73	2	complete	complete	ADJ
fbem-8778	73	3	book	book	NOUN
fbem-8778	73	4	of	of	ADP
fbem-8778	73	5	practical	practical	ADJ
fbem-8778	73	6	application	application	NOUN
fbem-8778	73	7	of	of	ADP
fbem-8778	73	8	company	company	NOUN
fbem-8778	73	9	law	law	NOUN
fbem-8778	73	10	:	:	PUNCT
fbem-8778	73	11	basic	basic	ADJ
fbem-8778	73	12	skills	skill	NOUN
fbem-8778	73	13	and	and	CCONJ
fbem-8778	73	14	practice	practice	NOUN
fbem-8778	73	15	methods	method	NOUN
fbem-8778	73	16	for	for	ADP
fbem-8778	73	17	lawyer	lawyer	NOUN
fbem-8778	73	18	companies	company	NOUN
fbem-8778	73	19	[	[	X
fbem-8778	73	20	m	m	X
fbem-8778	73	21	]	]	X
fbem-8778	73	22	.	.	PUNCT
fbem-8778	74	1	law	law	NOUN
fbem-8778	74	2	press	press	NOUN
fbem-8778	74	3	,	,	PUNCT
fbem-8778	74	4	2018	2018	NUM
fbem-8778	74	5	.	.	PUNCT
fbem-8778	75	1	[	[	X
fbem-8778	75	2	5	5	NUM
fbem-8778	75	3	]	]	PUNCT
fbem-8778	75	4	park	park	NOUN
fbem-8778	75	5	junshi	junshi	NOUN
fbem-8778	75	6	.	.	PUNCT
fbem-8778	76	1	theoretical	theoretical	ADJ
fbem-8778	76	2	analysis	analysis	NOUN
fbem-8778	76	3	and	and	CCONJ
fbem-8778	76	4	legal	legal	ADJ
fbem-8778	76	5	improvement	improvement	NOUN
fbem-8778	76	6	of	of	ADP
fbem-8778	76	7	shareholder	shareholder	NOUN
fbem-8778	76	8	's	's	PART
fbem-8778	76	9	right	right	NOUN
fbem-8778	76	10	of	of	ADP
fbem-8778	76	11	first	first	ADJ
fbem-8778	76	12	refusal	refusal	NOUN
fbem-8778	77	1	[	[	X
fbem-8778	77	2	d	d	X
fbem-8778	77	3	]	]	X
fbem-8778	77	4	.	.	PUNCT
fbem-8778	78	1	china	china	PROPN
fbem-8778	78	2	university	university	PROPN
fbem-8778	78	3	of	of	ADP
fbem-8778	78	4	political	political	ADJ
fbem-8778	78	5	science	science	NOUN
fbem-8778	78	6	and	and	CCONJ
fbem-8778	78	7	law	law	NOUN
fbem-8778	78	8	,	,	PUNCT
fbem-8778	78	9	2014	2014	NUM
fbem-8778	78	10	.	.	PUNCT
fbem-8778	79	1	[	[	X
fbem-8778	79	2	6	6	NUM
fbem-8778	79	3	]	]	PUNCT
fbem-8778	79	4	jiang	jiang	PROPN
fbem-8778	79	5	yujia	yujia	PROPN
fbem-8778	79	6	.	.	PUNCT
fbem-8778	80	1	reasonable	reasonable	ADJ
fbem-8778	80	2	restrictions	restriction	NOUN
fbem-8778	80	3	on	on	ADP
fbem-8778	80	4	the	the	DET
fbem-8778	80	5	exercise	exercise	NOUN
fbem-8778	80	6	of	of	ADP
fbem-8778	80	7	shareholders	shareholder	NOUN
fbem-8778	80	8	'	'	PART
fbem-8778	80	9	right	right	NOUN
fbem-8778	80	10	of	of	ADP
fbem-8778	80	11	first	first	ADJ
fbem-8778	80	12	refusal	refusal	NOUN
fbem-8778	81	1	[	[	X
fbem-8778	81	2	d	d	X
fbem-8778	81	3	]	]	X
fbem-8778	81	4	.	.	PUNCT
fbem-8778	82	1	harbin	harbin	PROPN
fbem-8778	82	2	normal	normal	ADJ
fbem-8778	82	3	university	university	NOUN
fbem-8778	82	4	,	,	PUNCT
fbem-8778	82	5	2019	2019	NUM
fbem-8778	82	6	.	.	PUNCT
fbem-8778	83	1	[	[	X
fbem-8778	83	2	7	7	X
fbem-8778	83	3	]	]	X
fbem-8778	83	4	sun	sun	PROPN
fbem-8778	83	5	ling	ling	PROPN
fbem-8778	83	6	.	.	PUNCT
fbem-8778	84	1	research	research	NOUN
fbem-8778	84	2	on	on	ADP
fbem-8778	84	3	the	the	DET
fbem-8778	84	4	preemptive	preemptive	ADJ
fbem-8778	84	5	right	right	NOUN
fbem-8778	84	6	of	of	ADP
fbem-8778	84	7	shareholders	shareholder	NOUN
fbem-8778	84	8	of	of	ADP
fbem-8778	84	9	limited	limited	ADJ
fbem-8778	84	10	liability	liability	NOUN
fbem-8778	84	11	companies	company	NOUN
fbem-8778	85	1	[	[	X
fbem-8778	85	2	d	d	X
fbem-8778	85	3	]	]	X
fbem-8778	85	4	.	.	PUNCT
fbem-8778	86	1	hunan	hunan	PROPN
fbem-8778	86	2	university	university	PROPN
fbem-8778	86	3	of	of	ADP
fbem-8778	86	4	technology	technology	NOUN
fbem-8778	86	5	,	,	PUNCT
fbem-8778	86	6	2015	2015	NUM
fbem-8778	86	7	.	.	PUNCT
fbem-8778	87	1	[	[	X
fbem-8778	87	2	8	8	NUM
fbem-8778	87	3	]	]	PUNCT
fbem-8778	87	4	pan	pan	NOUN
fbem-8778	87	5	furen	furen	PROPN
fbem-8778	87	6	.	.	PUNCT
fbem-8778	88	1	judicial	judicial	ADJ
fbem-8778	88	2	difficulties	difficulty	NOUN
fbem-8778	88	3	in	in	ADP
fbem-8778	88	4	the	the	DET
fbem-8778	88	5	effectiveness	effectiveness	NOUN
fbem-8778	88	6	of	of	ADP
fbem-8778	88	7	equity	equity	NOUN
fbem-8778	88	8	transfer	transfer	NOUN
fbem-8778	88	9	agreements	agreement	NOUN
fbem-8778	88	10	[	[	X
fbem-8778	88	11	m	m	X
fbem-8778	88	12	]	]	X
fbem-8778	88	13	.	.	PUNCT
fbem-8778	89	1	legal	legal	ADJ
fbem-8778	89	2	publishing	publishing	NOUN
fbem-8778	89	3	house	house	NOUN
fbem-8778	89	4	,	,	PUNCT
fbem-8778	89	5	2007	2007	NUM
fbem-8778	89	6	.	.	PUNCT