论股东优先购买权中同等条件的认定

Study on the Determination of the Same Condition in the Shareholder’s Priority Purchase Right

“同等条件”的认定是股东优先购买权制度的核心前提,但公司章程可另行规定的模糊性、价格标准的不一致造成了实践运行的困难。在理论层面上,“同等条件”的认定标准不一;在实践层面上,“同等条件”的认定出现了价格难以确定、从给付义务的涌现以及公司章程限制股权转让的模糊性等问题。运用理论分析和实证分析的方法,总结“同等条件”的具体构成要素可分为价格因素和非价格因素,并提出可从明确股权转让价格的确立标准、从给付义务以及公司章程限制股权的界限等三方面完善认定“同等条件”。

The determination of“equal conditions”is the core premise of the shareholders’preemptive purchase rights system.However,the ambiguity that may be separately stipulated in the shareholders’charter and the inconsistency of price standards have caused difficulties in practice.At the theoretical level,the criteria for determining“equal conditions”are different;at the practical level,the identification of“equal conditions”raises issues such as the difficulty in determining prices,the emergence of payment obligations,and the ambiguity of the company’s articles of association restricting equity transfer.By using the methods of theoretical analysis and empirical analysis,summarize that the specific elements of“equal conditions”can be divided into price factors and non price factors,and put forward that“equal conditions”can be improved from three aspects,namely,the establishment standard of equity transfer price,the obligation of payment and the limitation of equity in the articles of association.