从风险投资角度谈有限合伙人的权利保护

To Discuss the Protection of Limited Partner from the Perspective of Venture Capital

有限合伙制中有限责任与无限责任并存,有利于资本与智力的结合,成为越来越多风险投资企业选择的法律形态。有限合伙人的出资构成风险投资企业的资本,但由于信息不对称和专业技能欠缺等原因,有限合伙企业往往操控于普通合伙人手中,有限合伙人的权利难以得到充分保障,如有限合伙人投票表决权欠缺、管理权与建议权权限不明确、知情权范围狭窄等。针对这些问题,在借鉴美国立法经验基础上,我国应完善有限合伙人的权利保障,以激励其投资积极性,促进风险投资健康发展。

More and more venture capital enterprise choose limited partner system as its legal formation because it coexists unlimited liability and limited liability that make for the combination of capital and intelligence. A limited partner＇s contribution constitutes a capital venture enterprise＇s capital, but due to asymmetric information and lack of professional skills, limited partnership is manipulated by general partner frequently. It is difficult to get full guaran- tee to the protection of limited partner＇s fights, such as the defectiveness of limited partner＇s voting power, the ambi- guity extent of administration power and suggestion power, the narrow range of the right to know. For these ques- tions, we should protect the rights of limited partner on the basis of American legislative experience, in order to stimulate limited partner＇s investment and promote the development of venture capital.