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margin-bottom: 18px; } \/* \uc774\ubbf8\uc9c0 \u2014 \ubcf8\ubb38 \ud3ed\ubcf4\ub2e4 \uc881\uc740 \uc0ac\uc9c4\ub3c4 \uac00\uc6b4\ub370\ub85c (\ud14c\ub9c8\uac00 img{display:block} \uc774\ub77c text-align:center \ub85c\ub294 \uc548 \ub428). author-avatar\u00b7asg-step-img \ub294 \ubcc4\ub3c4 \ubc30\uce58\ub77c \uc81c\uc678 *\/ .content img:not(.author-avatar):not(.asg-step-img) { display: block; max-width: 100%; height: auto; margin-left: auto; margin-right: auto; } \/* \ud45c *\/ table { width: 100%; border-collapse: collapse; margin: 24px 0; font-size: 14px; } thead tr { background: #fff; } th { color: var(--navy); font-weight: 600; padding: 11px 16px; text-align: left; font-size: 16px; border-bottom: 2px solid var(--navy); } td { padding: 12px 16px; border-bottom: 1px solid var(--rule); color: var(--text); font-size: 16px; } tbody tr:hover { background: #f6f9fc; } \/* \ubd88\ub9bf \ub9ac\uc2a4\ud2b8 *\/ ul, ol:not(.toc-nav ol) { padding-left: 20px; margin-bottom: 16px; } li { font-size: 18px; line-height: 1.78; margin-bottom: 6px; color: var(--text); } \/* \uacc4\uc0b0 \uacf5\uc2dd \u2014 \uc720\uc77c\ud55c \uc0c9\uc0c1 \ube14\ub85d *\/ .formula { display: flex; align-items: center; gap: 8px; background: #f6f9fc; border: 1px solid var(--rule); border-radius: 8px; padding: 28px 24px; margin: 32px 0; flex-wrap: wrap; justify-content: center; } .f-item { text-align: center; padding: 12px 18px; background: #fff; border: 1px solid var(--rule); border-radius: 5px; } .f-result { background: #fff; border: 2px solid var(--navy); } .f-num { font-size: 22px; font-weight: 700; color: var(--navy); line-height: 1.2; } .f-result .f-num { color: var(--wine); } .f-label { font-size: 11px; color: var(--text); margin-top: 4px; } .f-op { font-size: 20px; color: var(--text); padding: 0 2px; font-weight: 300; } \/* FAQ \u2014 \uc120 \uad6c\ubd84\ub9cc *\/ .faq-item { border-top: 1px solid var(--rule); padding: 22px 0; } .faq-item:last-of-type { border-bottom: 1px solid var(--rule); } .faq-q { font-size: 17px; font-weight: 600; color: var(--navy); margin-bottom: 8px !important; } .faq-item p:not(.faq-q) { font-size: 17px; color: var(--text); margin: 0; line-height: 1.75; } \/* \ub9c8\ubb34\ub9ac \ubb38\uc7a5 *\/ p.closing { font-size: 15.5px; color: var(--text); margin: 40px 0 0; padding-top: 32px; border-top: 1px solid var(--rule); } \/* \uc800\uc790 *\/ .author-box { display: flex; align-items: center; gap: 14px; padding-top: 40px; margin-top: 40px; border-top: 1px solid var(--rule); } .author-avatar { width: 56px; height: 56px; border-radius: 50%; object-fit: cover; flex-shrink: 0; align-self: flex-start; } .author-text { flex: 1; } .author-name { font-size: 18px; font-weight: 600; color: var(--navy); } .author-meta { font-size: 13px; color: var(--text); margin-top: 2px; } .author-link { display: inline-block; margin-top: 8px; font-size: 15px; font-weight: 600; color: var(--wine); text-decoration: none; } .author-link:hover { text-decoration: underline; } .author-section-label { font-size: 15px; font-weight: 700; letter-spacing: 1px; text-transform: uppercase; color: var(--muted); margin-bottom: 8px; } .author-detail { font-size: 16px; color: var(--text); line-height: 1.7; margin-bottom: 1px; } @media (max-width: 640px) { body { font-size: 15px; } p { font-size: 15px; } li { font-size: 15px; } .hero { padding: 32px 14px 24px; } .hero h1 { font-size: 22px; } .hero-title { font-size: 22px; } .hero-info { font-size: 12px; } .content { padding: 28px 0 60px; } .toc-nav { margin-left: -14px; margin-right: -14px; border-radius: 0; border-left: none; border-right: none; padding: 12px 4px; margin-bottom: 28px; } .toc-label { font-size: 16px; } .toc-nav ol li { font-size: 14px; padding: 3px 0; } h2 { font-size: 20px; margin: 44px 0 10px; } h3 { font-size: 15px; margin: 24px 0 8px; } .lead-text { font-size: 16px; } .summary-text { font-size: 15px; } .context-text { font-size: 14px; } .formula { flex-direction: column; padding: 16px 12px; } .f-num { font-size: 18px; } th { font-size: 13px; padding: 8px 10px; } td { font-size: 13px; padding: 8px 10px; } .faq-q { font-size: 14px; } .faq-item p:not(.faq-q) { font-size: 14px; } .author-box { display: block; overflow: hidden; } .author-avatar { float: left; width: 36px; height: 36px; margin-right: 10px; border-radius: 50%; } .author-section-label { display: inline; font-size: 11px; letter-spacing: 0; margin: 0 3px 0 0; } .author-name { display: inline; font-size: 14px; } .author-detail { clear: both; font-size: 13px; line-height: 1.55; margin-top: 8px; margin-bottom: 1px; } .author-detail ~ .author-detail { clear: none; margin-top: 2px; } .author-link { clear: both; display: block; font-size: 13px; margin-top: 8px; } p.closing { font-size: 14px; } }<\/style>\n<style>\/* ATLAS legacy-content classes (migrated old format) -- gray boxes on white *\/ .direct-answer{background:#f5f5f5;border:1px solid var(--rule);border-radius:8px;padding:20px 24px;margin:0 0 24px;font-weight:500;color:var(--text);line-height:1.8;} .story-hook{background:#f5f5f5;border:1px solid var(--rule);border-radius:8px;padding:18px 22px;margin:0 0 22px;} .story-hook p{font-size:17px;color:var(--text);line-height:1.75;margin:0;} .story-detail{background:#f5f5f5;border:1px solid var(--rule);border-radius:8px;padding:22px 24px;margin:24px 0;} .story-detail h3{margin-top:0;} .statute-box{background:#f5f5f5;border:1px solid var(--rule);border-radius:8px;padding:18px 22px;margin:18px 0 22px;font-size:16px;line-height:1.7;} .statute-box .statute-title{font-weight:700;color:var(--navy);font-size:16px;margin-bottom:8px;display:block;} .statute-box .statute-text{color:var(--text);font-size:16px;margin:0;line-height:1.7;white-space:pre-line;} .statute-box .statute-text + .statute-title{margin-top:12px;} .statute-box .statute-source-title{font-weight:700;color:var(--muted);font-size:14px;margin-top:14px;margin-bottom:4px;display:block;} .statute-box .statute-source-text{color:var(--muted);font-size:14px;margin:0;line-height:1.5;font-style:italic;} .disclaimer{font-size:15px;color:var(--muted);font-style:italic;margin-bottom:15px;} figure{margin:24px 0;}figure img{max-width:100%;height:auto;border-radius:8px;} figcaption{font-size:13.5px;color:var(--muted);text-align:center;margin-top:8px;} @media (max-width:640px){.story-hook p,.statute-box{font-size:14px;}}<\/style>\n<div class=\"content\">\n<div class=\"hero\">\n<div class=\"hero-title\">\ubd84\uc7c1 \uc5c6\ub294 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\ub294 \uc5b4\ub5bb\uac8c \uc791\uc131\ud558\ub098\uc694? \ud22c\uc790 \ub2e8\uacc4\ubcc4 \ud544\uc218 \uc870\ud56d \ud574\uc124<\/div>\n<div class=\"hero-meta\">\n<div class=\"hero-info\">\n      <strong>\uae40\ud0dc\uc9c4<\/strong> \u00b7 \ub300\ud45c\ubcc0\ud638\uc0ac, \ubc95\ubb34\ubc95\uc778 \uc544\ud2c0\ub77c\uc2a4\n    <\/div>\n<\/div>\n<\/div>\n<p>    <!-- \ubaa9\ucc28 --><\/p>\n<div class=\"toc-nav\">\n<p class=\"toc-label\">\ubaa9\ucc28<\/p>\n<ol>\n<li><a href=\"#section1\">1. \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\ub294 \uc65c \ud544\uc694\ud55c\uac00\uc694?<\/a><\/li>\n<li><a href=\"#section2\">2. \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\uc5d0 \ubc18\ub4dc\uc2dc \ud3ec\ud568\ud574\uc57c \ud560 \uc870\ud56d\uc740 \ubb34\uc5c7\uc778\uac00\uc694?<\/a><\/li>\n<li><a href=\"#section3\">3. \uc758\uacb0\uad8c \uad6c\uc18d \uc57d\uc815\uacfc \uc774\uc0ac \uc120\uc784\uad8c\uc740 \uc5b4\ub5bb\uac8c \uc124\uacc4\ud558\ub098\uc694?<\/a><\/li>\n<li><a href=\"#section4\">4. \uc9c0\ubd84 \ubcc0\ub3d9 \uad00\ub828 \uad8c\ub9ac\ub294 \uc5b4\ub5bb\uac8c \uaddc\uc815\ud558\ub098\uc694?<\/a><\/li>\n<li><a href=\"#section5\">5. \uc8fc\uc8fc\uac04 \uacc4\uc57d \uc704\ubc18 \uc2dc \uc5b4\ub5a4 \uc81c\uc7ac\uac00 \uac00\ub2a5\ud55c\uac00\uc694?<\/a><\/li>\n<li><a href=\"#section6\">6. \ud22c\uc790 \uc720\ud615\ubcc4 \uacc4\uc57d \uc124\uacc4 \uc804\ub7b5\uc740 \ubb34\uc5c7\uc778\uac00\uc694?<\/a><\/li>\n<li><a href=\"#faq\">7. FAQ<\/a><\/li>\n<\/ol><\/div>\n<p>    <!-- \uc804\ubb38\uac00 \ud574\uc124 \uc601\uc0c1 --><\/p>\n<div class=\"related-links\" style=\"padding: 15px 20px; border-radius: 0; margin-bottom: 20px; background-color: #f5f5f5;\">\n<h3 style=\"margin-top: 0; font-size: 18px; color: #2c3e50;\">\uc804\ubb38\uac00 \ud574\uc124 \uc601\uc0c1<\/h3>\n<ul style=\"margin-bottom: 0; list-style-type: none; padding-left: 0;\">\n<li><a style=\"text-decoration:none\" href=\"https:\/\/youtu.be\/xwDZ68Cx-9o\" target=\"_blank\" rel=\"noopener noreferrer\">\uacf5\ub3d9\ucc3d\uc5c5\uc790\ub4e4\uc774 \ubc18\ub4dc\uc2dc \uc54c\uc544\uc57c \ud560 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ubaa8\ub4e0 \uac83<\/a><\/li>\n<\/ul><\/div>\n<div style=\"text-align: center; margin: 20px 0;\">\n        <iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/xwDZ68Cx-9o?si=MHTFGVr8j13h66ca\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n    <\/div>\n<p>    <!-- \uc778\ud3ec\uadf8\ub798\ud53d \uc774\ubbf8\uc9c0 --><\/p>\n<div style=\"text-align: center; margin: 20px 0;\">\n        <img decoding=\"async\" src=\"https:\/\/atlaw.kr\/kr-blog\/wp-content\/uploads\/sites\/2\/2025\/07\/shareholders-agreement-infographic-scaled-1.png\" \n             alt=\"\uc8fc\uc8fc\uac04 \ud611\uc57d\uc11c\uc758 \ud575\uc2ec \uad6c\uc131\uc694\uc18c\uc640 \uc9c0\ubd84 \ubcc0\ub3d9 \uad8c\ub9ac, \uc704\ubc18 \uc2dc \uc81c\uc7ac \ubc29\uc548\uc744 \uc124\uba85\ud558\ub294 \ubc95\ubb34 \uac00\uc774\ub4dc\" \n             style=\"max-width: 100%; height: auto;\">\n    <\/div>\n<p>    <!-- \uc2a4\ud1a0\ub9ac \ud6c5 (50-80\ub2e8\uc5b4) --><\/p>\n<div class=\"story-hook\" style=\"padding: 15px 20px; margin-bottom: 15px; border-radius: 0; background-color: #f5f5f5;\">\n<p><strong>\uc2e4\uc81c \uc0ac\ub840:<\/strong> 3\uba85\uc758 \uacf5\ub3d9\ucc3d\uc5c5\uc790\uac00 \uc2dc\uc791\ud55c IT \uc2a4\ud0c0\ud2b8\uc5c5\uc774 \uc2dc\ub9ac\uc988 A \ud22c\uc790\ub97c \uc720\uce58\ud558\uba70 \uc131\uc7a5\ud588\uc2b5\ub2c8\ub2e4. \uadf8\ub7ec\ub098 \uacbd\uc601 \ubc29\ud5a5\uc744 \ub450\uace0 \ucc3d\uc5c5\uc790\ub4e4 \uac04 \uac08\ub4f1\uc774 \uae4a\uc5b4\uc9c0\uba74\uc11c, \ud55c \ucc3d\uc5c5\uc790\uac00 \uacbd\uc7c1\uc0ac\ub85c \uc774\uc9c1\ud558\uaca0\ub2e4\uace0 \uc120\uc5b8\ud588\uc2b5\ub2c8\ub2e4. \ubb38\uc81c\ub294 \uc774 \ucc3d\uc5c5\uc790\uac00 30%\uc758 \uc9c0\ubd84\uc744 \ubcf4\uc720\ud558\uace0 \uc788\uc5c8\uace0, \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\uac00 \uc5c6\uc5c8\ub2e4\ub294 \uc810\uc785\ub2c8\ub2e4. \uc9c0\ubd84 \ucc98\ub9ac\uc640 \uacbd\uc5c5\uae08\uc9c0 \uc758\ubb34\ub97c \ub458\ub7ec\uc2fc \ubd84\uc7c1\uc740 \uc5b4\ub5bb\uac8c \ud574\uacb0\ub418\uc5c8\uc744\uae4c\uc694?<\/p>\n<\/p><\/div>\n<p>    <!-- \ud575\uc2ec \ub2f5\ubcc0 (40-60\ub2e8\uc5b4) --><\/p>\n<div class=\"direct-answer\" style=\"padding: 15px; border-radius: 0; margin-bottom: 20px; font-weight: 500; background-color: #f5f5f5;\">\n        <strong>\ud575\uc2ec \ub2f5\ubcc0:<\/strong> \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\ub294 \uc0c1\ubc95\uacfc \ubbfc\ubc95\uc758 \uacc4\uc57d\uc790\uc720 \uc6d0\uce59\uc5d0 \ub530\ub77c \uc8fc\uc8fc\ub4e4 \uac04 \uad8c\ub9ac\u00b7\uc758\ubb34\ub97c \uc815\ud558\ub294 \ucc44\uad8c\uc801 \ud569\uc758\uc785\ub2c8\ub2e4. \uc9c0\ubd84\uc591\ub3c4 \uc81c\ud55c, \uc758\uacb0\uad8c \ud589\uc0ac \uc57d\uc815, \uacbd\uc601\ucc38\uc5ec \uc870\uac74, \ubd84\uc7c1\ud574\uacb0 \uc808\ucc28 \ub4f1\uc744 \uc0ac\uc804\uc5d0 \uba85\ud655\ud788 \uaddc\uc815\ud574\uc57c \ud569\ub2c8\ub2e4. \uc2e4\ubb34\uc5d0\uc11c \ub2e4\uc218\uc758 \ud22c\uc790\uacc4\uc57d\uc744 \uac80\ud1a0\ud55c \uacb0\uacfc, \uacc4\uc57d\uc11c \ubd80\uc7ac\ub098 \ubd88\uc644\uc804\ud55c \uc870\ud56d\uc774 \ubd84\uc7c1\uc758 \uc8fc\uc694 \uc6d0\uc778\uc774\uc5c8\uc2b5\ub2c8\ub2e4.\n    <\/div>\n<p>    <!-- \uc2a4\ud1a0\ub9ac \uc804\uac1c (100-150\ub2e8\uc5b4) --><\/p>\n<div class=\"story-detail\" style=\"padding: 20px; border-radius: 0; margin: 20px 0; background-color: #f5f5f5;\">\n<h3 style=\"margin-top: 0; font-size: 19px; color: #2c3e50;\">\uc65c \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c \ud558\ub098\uac00 \uc218\uc2ed\uc5b5 \uc6d0\uc758 \ubd84\uc7c1\uc744 \ub9c9\uc744 \uc218 \uc788\uc5c8\uc744\uae4c\uc694?<\/h3>\n<p class=\"disclaimer\" style=\"font-size: 15px; color: #666; font-style: italic; margin-bottom: 15px;\">\u203b \ubcf8 \uc0ac\ub840\ub294 \uc2e4\uc81c \uc790\ubb38 \uc0ac\uac74\uc744 \ubc14\ud0d5\uc73c\ub85c \ud558\ub418, \uc0ac\uc548\uc758 \uc774\ud574\ub97c \ub3d5\uae30 \uc704\ud574 \uc77c\ubd80 \uc0ac\uc2e4\uad00\uacc4\ub97c \uac01\uc0c9\ud558\uc600\uc73c\uba70 \uc758\ub8b0\uc778\uc758 \uac1c\uc778\uc815\ubcf4\ub294 \ubcf4\ud638\ub418\uc5c8\uc2b5\ub2c8\ub2e4.<\/p>\n<p style=\"line-height: 1.8; color: #444;\">\uc704 \uc0ac\ub840\uc5d0\uc11c \uc774\ud0c8\ud558\ub824\ub294 \ucc3d\uc5c5\uc790\ub294 \uc790\uc2e0\uc758 \uc9c0\ubd84\uc744 \uacbd\uc7c1\uc0ac\uc5d0 \ub9e4\uac01\ud558\ub824 \ud588\uace0, \ub098\uba38\uc9c0 \ucc3d\uc5c5\uc790\ub4e4\uc740 \uc774\ub97c \uc800\uc9c0\ud560 \ubc95\uc801 \uadfc\uac70\uac00 \uc5c6\uc5c8\uc2b5\ub2c8\ub2e4. \uacb0\uad6d \ud68c\uc0ac\ub294 \ud574\ub2f9 \ucc3d\uc5c5\uc790\uc758 \uc9c0\ubd84\uc744 \uc2dc\uac00\ubcf4\ub2e4 \ub192\uc740 \uac00\uaca9\uc5d0 \ub9e4\uc218\ud574\uc57c \ud588\uace0, \uacbd\uc5c5\uae08\uc9c0 \uc758\ubb34\ub3c4 \uac15\uc81c\ud560 \uc218 \uc5c6\uc5c8\uc2b5\ub2c8\ub2e4. \ub9cc\uc57d \ucc3d\uc5c5 \ucd08\uae30\uc5d0 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\ub97c \uccb4\uacb0\ud558\uc5ec \uc6b0\uc120\ub9e4\uc218\uad8c(Right of First Refusal), \uacbd\uc5c5\uae08\uc9c0 \uc870\ud56d, \uac15\uc81c\ub9e4\uc218\uad8c(Call Option)\uc744 \uaddc\uc815\ud588\ub2e4\uba74 \uc804\ud600 \ub2e4\ub978 \uacb0\uacfc\uac00 \ub098\uc654\uc744 \uac83\uc785\ub2c8\ub2e4. \ub300\ubc95\uc6d0\uc740 \uc774\ub7ec\ud55c \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ud6a8\ub825\uc744 \uc6d0\uce59\uc801\uc73c\ub85c \uc778\uc815\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4(\ub300\ubc95\uc6d0 2017. 3. 23. \uc120\uace0 2015\ub2e468355 \ud310\uacb0). \uc9c0\uae08\ubd80\ud130 \ubd84\uc7c1\uc744 \uc608\ubc29\ud558\ub294 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c \uc791\uc131\uc758 \ud575\uc2ec \uc804\ub7b5\uc744 \ub2e8\uacc4\ubcc4\ub85c \uc124\uba85\ub4dc\ub9ac\uaca0\uc2b5\ub2c8\ub2e4.<\/p>\n<\/p><\/div>\n<p>    <!-- \ubcf8\ubb38 \uc139\uc158 1 --><br \/>\n    <\/p>\n<h2 id=\"section1\">1. \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\ub294 \uc65c \ud544\uc694\ud55c\uac00\uc694?<\/h2>\n<h3>\ud575\uc2ec \ub2f5\ubcc0<\/h3>\n<p>\uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\ub294 \uc815\uad00\ub9cc\uc73c\ub85c\ub294 \uaddc\uc728\ud560 \uc218 \uc5c6\ub294 \uc8fc\uc8fc\ub4e4 \uac04\uc758 \uc138\ubd80\uc801\uc778 \uad8c\ub9ac\u00b7\uc758\ubb34 \uad00\uacc4\ub97c \uc815\ud558\ub294 \ubb38\uc11c\uc785\ub2c8\ub2e4. \uc815\uad00\uc740 \ud68c\uc0ac\uc640 \ubaa8\ub4e0 \uc774\ud574\uad00\uacc4\uc790\uc5d0\uac8c \ud6a8\ub825\uc774 \uc788\uc9c0\ub9cc, \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc740 \ub2f9\uc0ac\uc790\ub4e4 \uc0ac\uc774\uc5d0\uc11c\ub9cc \uad6c\uc18d\ub825\uc744 \uac00\uc9c0\ubbc0\ub85c \ub354 \uc720\uc5f0\ud558\uace0 \uad6c\uccb4\uc801\uc778 \uc57d\uc815\uc774 \uac00\ub2a5\ud569\ub2c8\ub2e4.<\/p>\n<h3>\uc815\uad00\uacfc \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ucc28\uc774<\/h3>\n<p>\uc0c1\ubc95 \uc81c289\uc870\uc5d0 \ub530\ub77c \uc815\uad00\uc740 \ud68c\uc0ac\uc758 \uadfc\ubcf8\uaddc\uce59\uc73c\ub85c\uc11c \ub4f1\uae30\uc0ac\ud56d\uc774\uba70, \ud68c\uc0ac, \uc8fc\uc8fc, \uc774\uc0ac, \uc81c3\uc790 \ubaa8\ub450\uc5d0\uac8c \ud6a8\ub825\uc774 \ubbf8\uce69\ub2c8\ub2e4. \ubc18\uba74 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc740 \ubbfc\ubc95\uc0c1 \uacc4\uc57d\uc73c\ub85c\uc11c \ub2f9\uc0ac\uc790\uc778 \uc8fc\uc8fc\ub4e4 \uac04\uc5d0\ub9cc \ucc44\uad8c\uc801 \ud6a8\ub825\uc744 \uac00\uc9d1\ub2c8\ub2e4. \ub530\ub77c\uc11c \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc744 \uc704\ubc18\ud558\ub354\ub77c\ub3c4 \ud68c\uc0ac\ubc95\uc0c1 \ud589\uc704(\uc8fc\uc8fc\ucd1d\ud68c \uacb0\uc758, \uc774\uc0ac\ud68c \uacb0\uc758 \ub4f1) \uc790\uccb4\uac00 \ubb34\ud6a8\uac00 \ub418\uc9c0\ub294 \uc54a\uc2b5\ub2c8\ub2e4. \ub2e4\ub9cc \uacc4\uc57d \uc704\ubc18\uc790\uc5d0 \ub300\ud574 \uc190\ud574\ubc30\uc0c1\uccad\uad6c\ub098 \uacc4\uc57d\uc0c1 \uc81c\uc7ac(\uc704\uc57d\ubc8c, \uac15\uc81c\ub9e4\uc218 \ub4f1)\ub294 \uac00\ub2a5\ud569\ub2c8\ub2e4.<\/p>\n<h3>\uc8fc\uc8fc\uac04 \uacc4\uc57d\uc774 \ud2b9\ud788 \ud544\uc694\ud55c \uc0c1\ud669<\/h3>\n<p>\uc2e4\ubb34 \uacbd\ud5d8\uc0c1 \ub2e4\uc74c\uacfc \uac19\uc740 \uc0c1\ud669\uc5d0\uc11c \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ud544\uc694\uc131\uc774 \ub450\ub4dc\ub7ec\uc9d1\ub2c8\ub2e4. \uccab\uc9f8, \uacf5\ub3d9\ucc3d\uc5c5 \uc2dc \ucc3d\uc5c5\uc790\ub4e4 \uac04 \uc5ed\ud560 \ubd84\ub2f4\uacfc Exit \uc804\ub7b5\uc744 \uc0ac\uc804\uc5d0 \uc815\ud574\uc57c \ud560 \ub54c\uc785\ub2c8\ub2e4. \ub458\uc9f8, \ubca4\ucc98\uce90\ud53c\ud138\uc774\ub098 \uc804\ub7b5\uc801 \ud22c\uc790\uc790\ub85c\ubd80\ud130 \ud22c\uc790\ub97c \uc720\uce58\ud560 \ub54c \ud22c\uc790\uc790 \ubcf4\ud638 \uc870\ud56d\uc774 \ud544\uc694\ud569\ub2c8\ub2e4. \uc14b\uc9f8, \ud569\uc791\ud22c\uc790(Joint Venture)\uc5d0\uc11c \ud30c\ud2b8\ub108\uc0ac \uac04 \uacbd\uc601\uad8c \ubc30\ubd84\uacfc \uc758\uc0ac\uacb0\uc815 \uad6c\uc870\ub97c \uc124\uacc4\ud574\uc57c \ud569\ub2c8\ub2e4. \ub137\uc9f8, \uac00\uc871\uae30\uc5c5\uc5d0\uc11c \uc138\ub300 \uac04 \uc2b9\uacc4\uc640 \uc9c0\ubd84 \ubd84\uc0b0 \ubc29\uc9c0\ub97c \uc704\ud55c \uc7a5\uce58\uac00 \ud544\uc694\ud560 \ub54c\uc785\ub2c8\ub2e4.<\/p>\n<h3>\uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ubc95\uc801 \ud6a8\ub825<\/h3>\n<p>\ub300\ubc95\uc6d0\uc740 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ud6a8\ub825\uc744 \uc6d0\uce59\uc801\uc73c\ub85c \uc778\uc815\ud569\ub2c8\ub2e4. \ub300\ubc95\uc6d0 2000. 9. 26. \uc120\uace0 99\ub2e448429 \ud310\uacb0\uc5d0\uc11c\ub294 &#8220;\uc8fc\uc8fc\uac04\uc758 \uc758\uacb0\uad8c \ud589\uc0ac\uc5d0 \uad00\ud55c \uc57d\uc815\uc740 \ud2b9\ubcc4\ud55c \uc0ac\uc815\uc774 \uc5c6\ub294 \ud55c \uc720\ud6a8\ud558\ub2e4&#8221;\uace0 \ud310\uc2dc\ud558\uc600\uc2b5\ub2c8\ub2e4. \ub2e4\ub9cc \uc0c1\ubc95\uc0c1 \uac15\ud589\uaddc\uc815\uc5d0 \uc704\ubc18\ub418\uac70\ub098, \uc8fc\uc8fc\ud3c9\ub4f1\uc758 \uc6d0\uce59(\uc0c1\ubc95 \uc81c344\uc870)\uc744 \ud604\uc800\ud788 \ud574\uce58\uac70\ub098, \ubbfc\ubc95 \uc81c103\uc870\uc758 \ubc18\uc0ac\ud68c\uc9c8\uc11c \ubc95\ub960\ud589\uc704\uc5d0 \ud574\ub2f9\ud558\ub294 \uacbd\uc6b0\uc5d0\ub294 \ud6a8\ub825\uc774 \ubd80\uc778\ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>    <!-- \ubcf8\ubb38 \uc139\uc158 2 --><br \/>\n    <\/p>\n<h2 id=\"section2\">2. \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\uc5d0 \ubc18\ub4dc\uc2dc \ud3ec\ud568\ud574\uc57c \ud560 \uc870\ud56d\uc740 \ubb34\uc5c7\uc778\uac00\uc694?<\/h2>\n<h3>\ud575\uc2ec \ub2f5\ubcc0<\/h3>\n<p>\uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\uc758 \ud575\uc2ec \uc870\ud56d\uc740 \ud06c\uac8c \uc9c0\ubc30\uad6c\uc870(\uc758\uc0ac\uacb0\uc815), \uc9c0\ubd84 \ubcc0\ub3d9, \uc815\ubcf4 \uc811\uadfc, \uc81c\uc7ac \ubc0f \ubd84\uc7c1\ud574\uacb0\uc758 \ub124 \uac00\uc9c0 \uc601\uc5ed\uc73c\ub85c \ub098\ub20c \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uac01 \uc601\uc5ed\uc5d0\uc11c \ube60\ub728\ub9ac\uae30 \uc26c\uc6b4 \uc870\ud56d\ub4e4\uc744 \uccb4\uacc4\uc801\uc73c\ub85c \uac80\ud1a0\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\uae30\ubcf8 \uc0ac\ud56d \ubc0f \uc815\uc758 \uc870\ud56d<\/h3>\n<p>\ubaa8\ub4e0 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\ub294 \ub2f9\uc0ac\uc790\uc758 \ud2b9\uc815, \ud68c\uc0ac \uc815\ubcf4, \uac01 \uc8fc\uc8fc\uc758 \uc9c0\ubd84 \ud604\ud669, \uacc4\uc57d\uc758 \ubaa9\uc801, \uc8fc\uc694 \uc6a9\uc5b4\uc758 \uc815\uc758\ub85c \uc2dc\uc791\ud574\uc57c \ud569\ub2c8\ub2e4. \ud2b9\ud788 \uc6a9\uc5b4 \uc815\uc758\ub294 \ubd84\uc7c1 \uc608\ubc29\uc758 \uccab\uac78\uc74c\uc785\ub2c8\ub2e4. &#8220;\uc9c0\ubc30\uc8fc\uc8fc&#8221;, &#8220;\uc18c\uc218\uc8fc\uc8fc&#8221;, &#8220;\ud2b9\uc218\uad00\uacc4\uc778&#8221;, &#8220;\uc911\ub300\uc0ac\uc548&#8221;, &#8220;\uacf5\uc815\uc2dc\uc7a5\uac00\uce58(Fair Market Value)&#8221; \ub4f1\uc758 \uc6a9\uc5b4\ub97c \uba85\ud655\ud788 \uc815\uc758\ud574\uc57c \ud569\ub2c8\ub2e4. \ub2e4\uc218\uc758 \ubd84\uc7c1 \uc0ac\ub840\uc5d0\uc11c \uc6a9\uc5b4 \ud574\uc11d\uc758 \ubd88\uba85\ud655\uc131\uc774 \uc7c1\uc810\uc774 \ub418\uc5c8\uc2b5\ub2c8\ub2e4.<\/p>\n<h3>\uc758\uc0ac\uacb0\uc815 \ubc0f \uc9c0\ubc30\uad6c\uc870 \uc870\ud56d<\/h3>\n<p>\uc8fc\uc8fc\ucd1d\ud68c\uc640 \uc774\uc0ac\ud68c\uc758 \uc6b4\uc601 \ubc29\uc2dd, \ud2b9\ud788 \uc911\ub300\uc0ac\uc548\uc5d0 \ub300\ud55c \ud2b9\ubcc4\uacb0\uc758 \uc694\uac74\uc744 \uaddc\uc815\ud569\ub2c8\ub2e4. \uc0c1\ubc95 \uc81c368\uc870\uc5d0\uc11c \uc815\ud55c \ubcf4\ud1b5\uacb0\uc758(\ucd9c\uc11d \uacfc\ubc18\uc218, \ubc1c\ud589\uc8fc\uc2dd 4\ubd84\uc758 1 \uc774\uc0c1)\uc640 \ud2b9\ubcc4\uacb0\uc758(\ucd9c\uc11d 3\ubd84\uc758 2 \uc774\uc0c1, \ubc1c\ud589\uc8fc\uc2dd 3\ubd84\uc758 1 \uc774\uc0c1) \uc678\uc5d0, \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc5d0\uc11c \ud2b9\uc815 \uc0ac\uc548\uc5d0 \ub300\ud574 \uc804\uc6d0 \ub3d9\uc758\ub098 \ud2b9\uc815 \uc8fc\uc8fc\uc758 \ub3d9\uc758\ub97c \uc694\uad6c\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc608\ub97c \ub4e4\uc5b4 \uc815\uad00 \ubcc0\uacbd, \ud569\ubcd1, \ub300\uaddc\ubaa8 \ucc28\uc785, \ud575\uc2ec \uc790\uc0b0 \ucc98\ubd84 \ub4f1\uc5d0 \ub300\ud574 \ud22c\uc790\uc790\uc758 \uac70\ubd80\uad8c(Veto Right)\uc744 \ubd80\uc5ec\ud558\ub294 \uac83\uc774 \uc77c\ubc18\uc801\uc785\ub2c8\ub2e4.<\/p>\n<h3>\uc774\uc0ac \uc120\uc784 \ubc0f \ud574\uc784 \uad8c\ud55c<\/h3>\n<p>\uc0c1\ubc95 \uc81c382\uc870\uc5d0 \ub530\ub978 \uc774\uc0ac \uc120\uc784\uad8c\uacfc \ubcc4\ub3c4\ub85c, \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc5d0\uc11c \ud2b9\uc815 \uc8fc\uc8fc\uc5d0\uac8c \uc774\uc0ac \uc9c0\uba85\uad8c(Board Nomination Right)\uc744 \ubd80\uc5ec\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc608\ub97c \ub4e4\uc5b4 &#8220;\ud22c\uc790\uc790\ub294 \uc774\uc0ac 5\uba85 \uc911 2\uba85\uc744 \uc9c0\uba85\ud560 \uad8c\ub9ac\uac00 \uc788\ub2e4&#8221;\ub294 \uc2dd\uc785\ub2c8\ub2e4. \ub2e4\ub9cc \ub300\ubc95\uc6d0 2017. 3. 23. \uc120\uace0 2015\ub2e468355 \ud310\uacb0\uc5d0\uc11c \ud655\uc778\ub41c \ubc14\uc640 \uac19\uc774, \uc774\ub7ec\ud55c \uc57d\uc815\uc740 \uacc4\uc57d \ub2f9\uc0ac\uc790 \uac04\uc5d0\ub9cc \ud6a8\ub825\uc774 \uc788\uace0, \uc8fc\uc8fc\ucd1d\ud68c\uc5d0\uc11c \ub2e4\ub978 \uacb0\uc758\uac00 \uc774\ub8e8\uc5b4\uc9c0\ub354\ub77c\ub3c4 \uadf8 \uacb0\uc758 \uc790\uccb4\uac00 \ubb34\ud6a8\uac00 \ub418\uc9c0\ub294 \uc54a\uc2b5\ub2c8\ub2e4. \ub530\ub77c\uc11c \uc704\ubc18 \uc2dc \uc190\ud574\ubc30\uc0c1\uc774\ub098 \uacc4\uc57d\uc0c1 \uc81c\uc7ac\ub85c \ubcf4\uc644\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\uc815\ubcf4 \uc811\uadfc\uad8c \ubc0f \uc7ac\ubb34 \ubcf4\uace0<\/h3>\n<p>\uc18c\uc218\uc8fc\uc8fc \ub610\ub294 \ud22c\uc790\uc790\uc5d0\uac8c \ud68c\uc0ac\uc758 \uc7ac\ubb34 \uc815\ubcf4\uc5d0 \uc811\uadfc\ud560 \uad8c\ub9ac\ub97c \ubd80\uc5ec\ud569\ub2c8\ub2e4. \uc0c1\ubc95 \uc81c466\uc870\uc758 \ud68c\uacc4\uc7a5\ubd80\uc5f4\ub78c\uad8c\uc740 \ubc1c\ud589\uc8fc\uc2dd 3% \uc774\uc0c1 \uc8fc\uc8fc\uc5d0\uac8c\ub9cc \uc778\uc815\ub418\ubbc0\ub85c, \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc5d0\uc11c \uc774\ubcf4\ub2e4 \ub0ae\uc740 \uc9c0\ubd84\uc728\uc758 \uc8fc\uc8fc\uc5d0\uac8c\ub3c4 \uc815\ubcf4\uc811\uadfc\uad8c\uc744 \ubd80\uc5ec\ud558\uac70\ub098, \uc815\uae30\uc801\uc778 \uc7ac\ubb34\ubcf4\uace0 \uc758\ubb34\ub97c \uaddc\uc815\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc6d4\uac04 \uc7ac\ubb34\ud604\ud669, \ubd84\uae30\ubcc4 \uc0ac\uc5c5\ubcf4\uace0\uc11c, \uc5f0\uac04 \uac10\uc0ac\ubcf4\uace0\uc11c \uc81c\ucd9c \ub4f1\uc744 \uc758\ubb34\ud654\ud558\ub294 \uac83\uc774 \uc2e4\ubb34\uc0c1 \uc77c\ubc18\uc801\uc785\ub2c8\ub2e4.<\/p>\n<p>    <!-- \ubcf8\ubb38 \uc139\uc158 3 --><br \/>\n    <\/p>\n<h2 id=\"section3\">3. \uc758\uacb0\uad8c \uad6c\uc18d \uc57d\uc815\uacfc \uc774\uc0ac \uc120\uc784\uad8c\uc740 \uc5b4\ub5bb\uac8c \uc124\uacc4\ud558\ub098\uc694?<\/h2>\n<h3>\ud575\uc2ec \ub2f5\ubcc0<\/h3>\n<p>\uc758\uacb0\uad8c \uad6c\uc18d \uacc4\uc57d(Voting Agreement)\uc740 \ud2b9\uc815 \uc0ac\uc548\uc5d0 \ub300\ud574 \uc8fc\uc8fc\ub4e4\uc774 \uc77c\uc815\ud55c \ubc29\ud5a5\uc73c\ub85c \uc758\uacb0\uad8c\uc744 \ud589\uc0ac\ud558\uae30\ub85c \uc57d\uc815\ud558\ub294 \uac83\uc785\ub2c8\ub2e4. \ub300\ubc95\uc6d0\uc740 \uc774\ub7ec\ud55c \uc57d\uc815\uc758 \ud6a8\ub825\uc744 \uc6d0\uce59\uc801\uc73c\ub85c \uc778\uc815\ud558\uc9c0\ub9cc, \uadf8 \ubc94\uc704\uc640 \uae30\uac04\uc774 \ud569\ub9ac\uc801\uc774\uc5b4\uc57c \ud558\uace0 \uc0c1\ubc95\uc0c1 \uac15\ud589\uaddc\uc815\uc5d0 \uc704\ubc18\ub418\uc5b4\uc11c\ub294 \uc548 \ub429\ub2c8\ub2e4.<\/p>\n<h3>\uc758\uacb0\uad8c \uad6c\uc18d \uacc4\uc57d\uc758 \uc720\ud615<\/h3>\n<p>\uc758\uacb0\uad8c \uad6c\uc18d\uc740 \ud06c\uac8c \uc138 \uac00\uc9c0 \uc720\ud615\uc73c\ub85c \ub098\ub20c \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uccab\uc9f8, \ud2b9\uc815 \uc8fc\uc8fc\uc758 \uc9c0\uc2dc\uc5d0 \ub530\ub77c \uc758\uacb0\uad8c\uc744 \ud589\uc0ac\ud558\uae30\ub85c \ud558\ub294 \uc758\uacb0\uad8c \uc704\uc784\ud615\uc785\ub2c8\ub2e4. \ub458\uc9f8, \uc8fc\uc8fc\ub4e4\uc774 \uc0ac\uc804\uc5d0 \ud611\uc758\ud558\uc5ec \ud1b5\uc77c\ub41c \ubc29\ud5a5\uc73c\ub85c \uc758\uacb0\uad8c\uc744 \ud589\uc0ac\ud558\uae30\ub85c \ud558\ub294 \uacf5\ub3d9\ud589\uc0ac\ud615\uc785\ub2c8\ub2e4. \uc14b\uc9f8, \ud2b9\uc815 \uc0ac\uc548\uc5d0 \ub300\ud574 \ucc2c\uc131 \ub610\ub294 \ubc18\ub300\ub85c \uc758\uacb0\uad8c\uc744 \ud589\uc0ac\ud558\uae30\ub85c \ubbf8\ub9ac \uc815\ud574\ub450\ub294 \uc0ac\uc804\uacb0\uc815\ud615\uc785\ub2c8\ub2e4. \uac01 \uc720\ud615\ubcc4\ub85c \uc7a5\ub2e8\uc810\uc774 \uc788\uc73c\ubbc0\ub85c \ud22c\uc790 \uad6c\uc870\uc640 \uc8fc\uc8fc \uac04 \uc2e0\ub8b0 \uad00\uacc4\uc5d0 \ub530\ub77c \uc801\uc808\ud55c \uc720\ud615\uc744 \uc120\ud0dd\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\uc758\uacb0\uad8c \uad6c\uc18d\uc758 \ud55c\uacc4<\/h3>\n<p>\ub300\ubc95\uc6d0 2017. 3. 23. \uc120\uace0 2015\ub2e468355 \ud310\uacb0\uc740 \uc758\uacb0\uad8c \uad6c\uc18d \uacc4\uc57d\uc774 &#8220;\uc0c1\ubc95\uc774\ub098 \uadf8 \ubc16\uc758 \uac15\ud589\ubc95\uaddc\uc5d0 \ubc18\ud558\uc9c0 \uc54a\ub294 \ubc94\uc704 \ub0b4\uc5d0\uc11c \uc720\ud6a8\ud558\ub2e4&#8221;\uace0 \ud310\uc2dc\ud558\uc600\uc2b5\ub2c8\ub2e4. \ub530\ub77c\uc11c \ub2e4\uc74c\uc758 \ud55c\uacc4\ub97c \uace0\ub824\ud574\uc57c \ud569\ub2c8\ub2e4. \uc0c1\ubc95 \uc81c385\uc870 \uc81c1\ud56d\uc5d0 \ub530\ub77c \uc774\uc0ac \ud574\uc784 \uc758\uacb0\uad8c\uc744 \uc644\uc804\ud788 \ud3ec\uae30\ud558\ub294 \uc57d\uc815\uc740 \ubb34\ud6a8\uc785\ub2c8\ub2e4. \uc8fc\uc8fc\ud3c9\ub4f1\uc758 \uc6d0\uce59(\uc0c1\ubc95 \uc81c344\uc870)\uc744 \ud604\uc800\ud788 \uce68\ud574\ud558\ub294 \uc57d\uc815\ub3c4 \ud6a8\ub825\uc774 \ubd80\uc778\ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ub610\ud55c \uc758\uacb0\uad8c \uad6c\uc18d \uae30\uac04\uc774 \uc9c0\ub098\uce58\uac8c \uc7a5\uae30\uc774\uac70\ub098 \ubc94\uc704\uac00 \ud3ec\uad04\uc801\uc778 \uacbd\uc6b0 \uacf5\uc11c\uc591\uc18d \uc704\ubc18\uc73c\ub85c \ubb34\ud6a8\uac00 \ub420 \uac00\ub2a5\uc131\uc774 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<h3>\uc774\uc0ac \uc120\uc784\uad8c\uc758 \uc2e4\ud6a8\uc131 \ud655\ubcf4<\/h3>\n<p>\uc8fc\uc8fc\uac04 \uacc4\uc57d\uc5d0\uc11c \ubd80\uc5ec\ub41c \uc774\uc0ac \uc9c0\uba85\uad8c\uc774 \uc2e4\uc81c\ub85c \uc791\ub3d9\ud558\ub824\uba74 \ucd94\uac00\uc801\uc778 \uc7a5\uce58\uac00 \ud544\uc694\ud569\ub2c8\ub2e4. \uba3c\uc800 \uc704\ubc18 \uc2dc \ub192\uc740 \uc704\uc57d\ubc8c\uc744 \uaddc\uc815\ud558\uc5ec \uac04\uc811 \uac15\uc81c \ud6a8\uacfc\ub97c \ub178\ub9bd\ub2c8\ub2e4. \ub2e4\uc74c\uc73c\ub85c \uc8fc\uc694 \uc758\uc0ac\uacb0\uc815\uc5d0 \ud574\ub2f9 \uc774\uc0ac\uc758 \ucc2c\uc131\uc744 \uc694\uac74\uc73c\ub85c \uc124\uc815\ud569\ub2c8\ub2e4. \ub9c8\uc9c0\ub9c9\uc73c\ub85c \uc774\uc0ac \uc9c0\uba85\uad8c \uce68\ud574 \uc2dc \uc9c0\ubd84 \uac15\uc81c\ub9e4\uc218\uad8c(Call Option)\uc744 \ubd80\uc5ec\ud558\ub294 \ubc29\ubc95\uc774 \uc788\uc2b5\ub2c8\ub2e4. \ucd5c\uadfc \uc9c4\ud589\ud55c \ud22c\uc790\uacc4\uc57d\uc5d0\uc11c\ub294 \uc774\ub7ec\ud55c \uc911\uce35\uc801 \ubcf4\ud638 \uc7a5\uce58\ub97c \ud1b5\ud574 \uc774\uc0ac \uc120\uc784\uad8c\uc758 \uc2e4\ud6a8\uc131\uc744 \ud655\ubcf4\ud55c \ubc14 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p>    <!-- \ubcf8\ubb38 \uc139\uc158 4 --><br \/>\n    <\/p>\n<h2 id=\"section4\">4. \uc9c0\ubd84 \ubcc0\ub3d9 \uad00\ub828 \uad8c\ub9ac\ub294 \uc5b4\ub5bb\uac8c \uaddc\uc815\ud558\ub098\uc694?<\/h2>\n<h3>\ud575\uc2ec \ub2f5\ubcc0<\/h3>\n<p>\uc9c0\ubd84 \ubcc0\ub3d9 \uad8c\ub9ac\ub294 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ud575\uc2ec \uc601\uc5ed\uc785\ub2c8\ub2e4. \uc6b0\uc120\ub9e4\uc218\uad8c(ROFR), \ub3d9\ubc18\ub9e4\ub3c4\uccad\uad6c\uad8c(Tag-along), \ub3d9\ubc18\ub9e4\ub3c4\uc694\uad6c\uad8c(Drag-along), \ud76c\uc11d\ubc29\uc9c0\uc870\ud56d(Anti-dilution), \uc2e0\uc8fc\uc778\uc218\uad8c(Preemptive Rights) \ub4f1\uc744 \uccb4\uacc4\uc801\uc73c\ub85c \uc124\uacc4\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\uc6b0\uc120\ub9e4\uc218\uad8c(Right of First Refusal, ROFR)<\/h3>\n<p>\uc8fc\uc8fc\uac00 \ubcf4\uc720 \uc9c0\ubd84\uc744 \uc678\ubd80\uc5d0 \ub9e4\uac01\ud558\ub824 \ud560 \ub54c, \ub2e4\ub978 \uc8fc\uc8fc\ub4e4\uc5d0\uac8c \ub3d9\uc77c\ud55c \uc870\uac74\uc73c\ub85c \uba3c\uc800 \ub9e4\uc218\ud560 \uae30\ud68c\ub97c \uc8fc\ub294 \uad8c\ub9ac\uc785\ub2c8\ub2e4. \uc0c1\ubc95 \uc81c335\uc870\uc7582 \ub0b4\uc9c0 \uc81c335\uc870\uc7587\uc5d0\uc11c \uc815\uad00\uc5d0 \uc758\ud55c \uc8fc\uc2dd\uc591\ub3c4\uc81c\ud55c\uc744 \uaddc\uc815\ud558\uace0 \uc788\uc73c\ub098, \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc73c\ub85c\ub3c4 \ub2f9\uc0ac\uc790 \uac04\uc5d0 \uc720\uc0ac\ud55c \ud6a8\uacfc\ub97c \ub2ec\uc131\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc6b0\uc120\ub9e4\uc218\uad8c \ud589\uc0ac \uae30\uac04(\ud1b5\uc0c1 30~60\uc77c), \uc77c\ubd80 \ub9e4\uc218 \ud5c8\uc6a9 \uc5ec\ubd80, \uac00\uaca9 \uc0b0\uc815 \ubc29\uc2dd \ub4f1\uc744 \uad6c\uccb4\uc801\uc73c\ub85c \uc815\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\ub3d9\ubc18\ub9e4\ub3c4\uccad\uad6c\uad8c(Tag-along Rights)<\/h3>\n<p>\ub300\uc8fc\uc8fc\uac00 \uc9c0\ubd84\uc744 \ub9e4\uac01\ud560 \ub54c \uc18c\uc218\uc8fc\uc8fc\ub3c4 \ub3d9\uc77c\ud55c \uc870\uac74\uc73c\ub85c \ud568\uaed8 \ub9e4\ub3c4\uc5d0 \ucc38\uc5ec\ud560 \uc218 \uc788\ub294 \uad8c\ub9ac\uc785\ub2c8\ub2e4. \uc774\ub294 \uc18c\uc218\uc8fc\uc8fc \ubcf4\ud638\ub97c \uc704\ud55c \ud575\uc2ec \uc7a5\uce58\ub85c, \ub300\uc8fc\uc8fc\ub9cc \uc720\ub9ac\ud55c \uc870\uac74\uc5d0 Exit\ud558\uace0 \uc18c\uc218\uc8fc\uc8fc\uac00 \uc794\ub958\ud558\ub294 \uc0c1\ud669\uc744 \ubc29\uc9c0\ud569\ub2c8\ub2e4. Tag-along \uad8c\ub9ac\uc758 \ubc1c\ub3d9 \uc694\uac74(\ub300\uc8fc\uc8fc\uc758 \uc9c0\ubd84 \ub9e4\uac01 \ube44\uc728), \ud589\uc0ac \uae30\uac04, \ube44\ub840 \ub9e4\ub3c4 \uc5ec\ubd80 \ub4f1\uc744 \uaddc\uc815\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\ub3d9\ubc18\ub9e4\ub3c4\uc694\uad6c\uad8c(Drag-along Rights)<\/h3>\n<p>\ub300\uc8fc\uc8fc\uac00 \ud68c\uc0ac \uc804\uccb4\uc758 \ub9e4\uac01\uc744 \ucd94\uc9c4\ud560 \ub54c \uc18c\uc218\uc8fc\uc8fc\uc5d0\uac8c\ub3c4 \ud568\uaed8 \ub9e4\ub3c4\ud560 \uac83\uc744 \uc694\uad6c\ud560 \uc218 \uc788\ub294 \uad8c\ub9ac\uc785\ub2c8\ub2e4. \uc774\ub294 M&#038;A \uac70\ub798\uc5d0\uc11c 100% \uc9c0\ubd84 \uc778\uc218\ub97c \uc6d0\ud558\ub294 \ub9e4\uc218\uc790\uc758 \uc694\uad6c\ub97c \ucda9\uc871\uc2dc\ud0a4\uae30 \uc704\ud574 \ud544\uc694\ud569\ub2c8\ub2e4. \ub2e4\ub9cc \uc18c\uc218\uc8fc\uc8fc\uc758 \uc774\uc775 \ubcf4\ud638\ub97c \uc704\ud574 \ucd5c\uc18c \ub9e4\uac01 \uac00\uaca9, \uac70\ub798 \uc870\uac74\uc5d0 \ub300\ud55c \uc81c\ud55c, \ubc1c\ub3d9 \uc694\uac74(\uc608: \ud2b9\uc815 \uc9c0\ubd84\uc728 \uc774\uc0c1\uc758 \uc8fc\uc8fc \ub3d9\uc758) \ub4f1\uc744 \uc2e0\uc911\ud788 \uc124\uacc4\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\ud76c\uc11d\ubc29\uc9c0\uc870\ud56d(Anti-dilution)<\/h3>\n<p>\ud6c4\uc18d \ud22c\uc790 \ub77c\uc6b4\ub4dc\uc5d0\uc11c \ub0ae\uc740 \uae30\uc5c5\uac00\uce58(Down Round)\ub85c \uc2e0\uc8fc\uac00 \ubc1c\ud589\ub420 \uacbd\uc6b0, \uae30\uc874 \ud22c\uc790\uc790\uc758 \uc9c0\ubd84\uc774 \ud76c\uc11d\ub418\ub294 \uac83\uc744 \ubc29\uc9c0\ud558\ub294 \uc870\ud56d\uc785\ub2c8\ub2e4. Full Ratchet \ubc29\uc2dd(\uae30\uc874 \uc8fc\uc2dd \uc804\ubd80\ub97c \uc0c8 \uac00\uaca9\uc73c\ub85c \uc7ac\uc870\uc815)\uacfc Weighted Average \ubc29\uc2dd(\uac00\uc911\ud3c9\uade0\uc73c\ub85c \uc870\uc815)\uc774 \uc788\uc2b5\ub2c8\ub2e4. Full Ratchet\uc740 \ud22c\uc790\uc790\uc5d0\uac8c \uc720\ub9ac\ud558\uc9c0\ub9cc \ucc3d\uc5c5\uc790\uc5d0\uac8c \uac00\ud639\ud560 \uc218 \uc788\uc73c\ubbc0\ub85c, \ubca4\ucc98\ud22c\uc790 \uc2e4\ubb34\uc5d0\uc11c\ub294 Broad-based Weighted Average \ubc29\uc2dd\uc774 \uc77c\ubc18\uc801\uc785\ub2c8\ub2e4.<\/p>\n<h3>\uc2e0\uc8fc\uc778\uc218\uad8c(Preemptive Rights)<\/h3>\n<p>\uc0c1\ubc95 \uc81c418\uc870\uc5d0\uc11c \uc8fc\uc8fc\uc758 \uc2e0\uc8fc\uc778\uc218\uad8c\uc744 \uaddc\uc815\ud558\uace0 \uc788\uc73c\ub098, \uc815\uad00\uc73c\ub85c \uc81c\ud55c\ud558\uac70\ub098 \uc81c3\uc790 \ubc30\uc815\uc744 \ud5c8\uc6a9\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc5d0\uc11c\ub294 \uc774\uc640 \ubcc4\ub3c4\ub85c \ud22c\uc790\uc790\uc5d0\uac8c \uc2e0\uc8fc\uc778\uc218\uad8c\uc744 \ubcf4\uc7a5\ud558\uac70\ub098, Pro-rata \ucc38\uc5ec\uad8c(\uc9c0\ubd84\uc728\uc5d0 \ube44\ub840\ud55c \ud6c4\uc18d \ud22c\uc790 \ucc38\uc5ec\uad8c)\uc744 \ubd80\uc5ec\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub97c \ud1b5\ud574 \ud22c\uc790\uc790\ub294 \ud6c4\uc18d \ub77c\uc6b4\ub4dc\uc5d0\uc11c\ub3c4 \uc9c0\ubd84\uc728\uc744 \uc720\uc9c0\ud560 \uae30\ud68c\ub97c \ud655\ubcf4\ud569\ub2c8\ub2e4.<\/p>\n<p>    <!-- \ubcf8\ubb38 \uc139\uc158 5 --><br \/>\n    <\/p>\n<h2 id=\"section5\">5. \uc8fc\uc8fc\uac04 \uacc4\uc57d \uc704\ubc18 \uc2dc \uc5b4\ub5a4 \uc81c\uc7ac\uac00 \uac00\ub2a5\ud55c\uac00\uc694?<\/h2>\n<h3>\ud575\uc2ec \ub2f5\ubcc0<\/h3>\n<p>\uc8fc\uc8fc\uac04 \uacc4\uc57d \uc704\ubc18 \uc2dc \uc190\ud574\ubc30\uc0c1\uccad\uad6c, \uc704\uc57d\ubc8c \uccad\uad6c, \uacc4\uc57d\ud574\uc81c, \uc9c0\ubd84 \uac15\uc81c\ub9e4\uc218(Call Option), \uacbd\uc601\uad8c \uc81c\ud55c \ub4f1\uc758 \uc81c\uc7ac\uac00 \uac00\ub2a5\ud569\ub2c8\ub2e4. \ub2e4\ub9cc \ud68c\uc0ac\ubc95\uc0c1 \ud589\uc704(\uc8fc\uc8fc\ucd1d\ud68c \uacb0\uc758 \ub4f1) \uc790\uccb4\ub97c \ubb34\ud6a8\ub85c \ud560 \uc218\ub294 \uc5c6\uc73c\ubbc0\ub85c, \uc2e4\ud6a8\uc131 \uc788\ub294 \uc81c\uc7ac \uccb4\uacc4\ub97c \uc124\uacc4\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\uc190\ud574\ubc30\uc0c1\uacfc \uc704\uc57d\ubc8c\uc758 \uad6c\ubd84<\/h3>\n<p>\uc190\ud574\ubc30\uc0c1\uc740 \uc2e4\uc81c \ubc1c\uc0dd\ud55c \uc190\ud574\ub97c \uc804\ubcf4\ud558\ub294 \uac83\uc774\uace0, \uc704\uc57d\ubc8c\uc740 \uacc4\uc57d \uc704\ubc18 \uc790\uccb4\uc5d0 \ub300\ud55c \uc81c\uc7ac\uc785\ub2c8\ub2e4. \ubbfc\ubc95 \uc81c398\uc870 \uc81c2\ud56d\uc5d0 \ub530\ub77c \uc704\uc57d\uae08\uc740 \uc190\ud574\ubc30\uc0c1\uc561\uc758 \uc608\uc815\uc73c\ub85c \ucd94\uc815\ub418\ub098, \ub2f9\uc0ac\uc790\uac00 \ubcc4\ub3c4\ub85c \uc704\uc57d\ubc8c\uc784\uc744 \uba85\uc2dc\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc2e4\ubb34\uc5d0\uc11c\ub294 \uc190\ud574\ubc30\uc0c1 \uc785\uc99d\uc758 \uc5b4\ub824\uc6c0\uc744 \uace0\ub824\ud558\uc5ec \uc704\uc57d\ubc8c\uc744 \ubcd1\ud589 \uaddc\uc815\ud558\ub294 \uac83\uc774 \uc77c\ubc18\uc801\uc785\ub2c8\ub2e4. \ub2e4\ub9cc \ubbfc\ubc95 \uc81c398\uc870 \uc81c2\ud56d \ub2e8\uc11c\uc5d0 \ub530\ub77c \ubc95\uc6d0\uc774 \uacfc\ub3c4\ud55c \uc704\uc57d\uae08\uc744 \uac10\uc561\ud560 \uc218 \uc788\uc73c\ubbc0\ub85c \uc801\uc815 \uc218\uc900\uc73c\ub85c \uc124\uc815\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\uc9c0\ubd84 \uac15\uc81c\ub9e4\uc218\uad8c(Call Option)\uacfc \ub9e4\ub3c4\uccad\uad6c\uad8c(Put Option)<\/h3>\n<p>\uacc4\uc57d \uc704\ubc18 \uc2dc \uc704\ubc18\uc790\uc758 \uc9c0\ubd84\uc744 \uc77c\uc815\ud55c \uac00\uaca9\uc5d0 \uac15\uc81c\ub85c \ub9e4\uc218\ud560 \uc218 \uc788\ub294 \uad8c\ub9ac(Call Option)\ub97c \ubd80\uc5ec\ud558\uac70\ub098, \ubc18\ub300\ub85c \uc704\ubc18\uc790\uc5d0\uac8c \uc790\uc2e0\uc758 \uc9c0\ubd84\uc744 \ub9e4\uc218\ud560 \uac83\uc744 \uccad\uad6c\ud560 \uc218 \uc788\ub294 \uad8c\ub9ac(Put Option)\ub97c \ubd80\uc5ec\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ub9e4\uc218 \uac00\uaca9\uc740 \uacf5\uc815\uc2dc\uc7a5\uac00\uce58(Fair Market Value) \ub610\ub294 \ud560\uc778\ub41c \uac00\uaca9(Discounted Price)\uc73c\ub85c \uc815\ud560 \uc218 \uc788\uc73c\uba70, \uc704\ubc18\uc758 \uc2ec\uac01\uc131\uc5d0 \ub530\ub77c \ucc28\ub4f1\uc801\uc73c\ub85c \uc124\uacc4\ud558\ub294 \uac83\uc774 \ud569\ub9ac\uc801\uc785\ub2c8\ub2e4.<\/p>\n<h3>\uacbd\uc601\uad8c \uc81c\ud55c \uc870\uce58<\/h3>\n<p>\uacc4\uc57d \uc704\ubc18\uc790\uc758 \uc774\uc0ac\ud68c \ucc38\uc5ec \uc81c\ud55c, \uc758\uacb0\uad8c \ud589\uc0ac \uc81c\ud55c(\uacc4\uc57d\uc0c1 \ud6a8\ub825\uc5d0 \ud55c\ud568), \uc774\uc0ac \uc9c0\uba85\uad8c \ubc15\ud0c8, \uc815\ubcf4\uc811\uadfc\uad8c \uc815\uc9c0 \ub4f1\uc758 \uc870\uce58\ub97c \uaddc\uc815\ud560 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc774\ub7ec\ud55c \uc81c\uc7ac\ub294 \uc704\ubc18\uc790\uc5d0\uac8c \uc9c1\uc811\uc801\uc778 \ubd88\uc774\uc775\uc744 \uc8fc\uc5b4 \uacc4\uc57d \uc900\uc218\ub97c \uc720\ub3c4\ud558\ub294 \ud6a8\uacfc\uac00 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<h3>\ubd84\uc7c1\ud574\uacb0 \uc808\ucc28<\/h3>\n<p>\ubd84\uc7c1 \ubc1c\uc0dd \uc2dc \ud574\uacb0 \uc808\ucc28\ub97c \ubbf8\ub9ac \uc815\ud574\ub450\uc5b4\uc57c \ud569\ub2c8\ub2e4. \uba3c\uc800 \ub2f9\uc0ac\uc790 \uac04 \ud611\uc758, \uc870\uc815(Mediation), \uc911\uc7ac(Arbitration), \uc18c\uc1a1\uc758 \uc21c\uc11c\ub85c \ub2e8\uacc4\uc801 \ud574\uacb0 \uc808\ucc28\ub97c \uaddc\uc815\ud558\ub294 \uac83\uc774 \uc77c\ubc18\uc801\uc785\ub2c8\ub2e4. \uad6d\uc81c \uac70\ub798\uc758 \uacbd\uc6b0 \ub300\ud55c\uc0c1\uc0ac\uc911\uc7ac\uc6d0(KCAB)\uc774\ub098 \uc2f1\uac00\ud3ec\ub974\uad6d\uc81c\uc911\uc7ac\uc13c\ud130(SIAC) \ub4f1\uc758 \uc911\uc7ac\ub97c \uc9c0\uc815\ud558\ub294 \uacbd\uc6b0\uac00 \ub9ce\uc2b5\ub2c8\ub2e4. \uc911\uc7ac \ud569\uc758\uac00 \uc788\uc73c\uba74 \ubc95\uc6d0 \uc18c\uc1a1\uc774 \ubc30\uc81c\ub418\ubbc0\ub85c(\uc911\uc7ac\ubc95 \uc81c9\uc870) \uc2e0\uc911\ud55c \uc120\ud0dd\uc774 \ud544\uc694\ud569\ub2c8\ub2e4.<\/p>\n<p>    <!-- \ubcf8\ubb38 \uc139\uc158 6 --><br \/>\n    <\/p>\n<h2 id=\"section6\">6. \ud22c\uc790 \uc720\ud615\ubcc4 \uacc4\uc57d \uc124\uacc4 \uc804\ub7b5\uc740 \ubb34\uc5c7\uc778\uac00\uc694?<\/h2>\n<h3>\ud575\uc2ec \ub2f5\ubcc0<\/h3>\n<p>\ubca4\ucc98\ud22c\uc790, \ud569\uc791\ud22c\uc790, \uac00\uc871\uae30\uc5c5 \uc2b9\uacc4 \ub4f1 \ud22c\uc790 \uc720\ud615\uc5d0 \ub530\ub77c \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ud575\uc2ec \uc870\ud56d\uacfc \uc124\uacc4 \uc804\ub7b5\uc774 \ub2ec\ub77c\uc9d1\ub2c8\ub2e4. \uac01 \uc720\ud615\uc758 \ud2b9\uc131\uc744 \uc774\ud574\ud558\uace0 \ub9de\ucda4\ud615 \uacc4\uc57d\uc744 \uc124\uacc4\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\ubca4\ucc98\ud22c\uc790(VC \ud22c\uc790) \uc2dc \ud575\uc2ec \uc870\ud56d<\/h3>\n<p>\ubca4\ucc98\uce90\ud53c\ud138\ub85c\ubd80\ud130 \ud22c\uc790\ub97c \uc720\uce58\ud558\ub294 \uacbd\uc6b0, \ud22c\uc790\uc790 \ubcf4\ud638\uc640 \ucc3d\uc5c5\uc790\uc758 \uacbd\uc601 \uc790\uc728\uc131 \uac04 \uade0\ud615\uc774 \ud575\uc2ec\uc785\ub2c8\ub2e4. \uc8fc\uc694 \uc870\ud56d\uc73c\ub85c\ub294 \uc6b0\uc120\uc8fc\uc758 \uc804\ud658\uad8c(\ubcf4\ud1b5\uc8fc\ub85c\uc758 \uc804\ud658 \uc870\uac74), \uccad\uc0b0\uc6b0\uc120\uad8c(Liquidation Preference, \uccad\uc0b0 \uc2dc \ud22c\uc790\uae08 \uc6b0\uc120 \ud68c\uc218), \ud76c\uc11d\ubc29\uc9c0\uc870\ud56d(Anti-dilution), \uc774\uc0ac\ud68c \ucc38\uc5ec\uad8c \ubc0f \uc8fc\uc694 \uc548\uac74 \ub3d9\uc758\uad8c, \ub3d9\ubc18\ub9e4\ub3c4\uccad\uad6c\uad8c(Tag-along)\uacfc \ub3d9\ubc18\ub9e4\ub3c4\uc694\uad6c\uad8c(Drag-along), IPO \ub610\ub294 M&#038;A\ub97c \ud1b5\ud55c Exit \uc804\ub7b5 \ub4f1\uc774 \uc788\uc2b5\ub2c8\ub2e4. \ucd5c\uadfc \uc2a4\ud0c0\ud2b8\uc5c5 \ud22c\uc790\uacc4\uc57d\uc5d0\uc11c\ub294 \ucc3d\uc5c5\uc790 \uce5c\ud654\uc801\uc778 \uc870\uac74\uacfc \ud22c\uc790\uc790 \ubcf4\ud638 \uc870\uac74 \uac04\uc758 \uc138\ubc00\ud55c \ud611\uc0c1\uc774 \uc774\ub8e8\uc5b4\uc9c0\uace0 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<h3>\ud569\uc791\ud22c\uc790(Joint Venture) \uc2dc \ud575\uc2ec \uc870\ud56d<\/h3>\n<p>\ubcf5\uc218\uc758 \uae30\uc5c5\uc774 \uacf5\ub3d9\uc73c\ub85c \uc0c8\ub85c\uc6b4 \ud68c\uc0ac\ub97c \uc124\ub9bd\ud558\uac70\ub098 \uae30\uc874 \ud68c\uc0ac\uc5d0 \uacf5\ub3d9 \ud22c\uc790\ud558\ub294 \uacbd\uc6b0\uc785\ub2c8\ub2e4. \uac01 \ud30c\ud2b8\ub108\uc758 \uc5ed\ud560 \ubd84\ub2f4(\uae30\uc220 \uc81c\uacf5, \uc790\uae08 \ud22c\uc790, \uc601\uc5c5\ub9dd \ud65c\uc6a9 \ub4f1), \uacbd\uc601\uad8c \ubc30\ubd84 \ubc0f \uc774\uc0ac\ud68c \uad6c\uc131, \uc8fc\uc694 \uc758\uc0ac\uacb0\uc815\uc5d0 \ub300\ud55c \ud569\uc758 \uc694\uac74(\uac70\ubd80\uad8c \uc0ac\ud56d), Deadlock(\uad50\ucc29\uc0c1\ud0dc) \ud574\uacb0 \uc808\ucc28(\ub7ec\uc2dc\uc548\ub8f0\ub81b, Texas Shoot-out \ub4f1), \uacbd\uc5c5\uae08\uc9c0 \ubc0f \ube44\ubc00\uc720\uc9c0 \uc758\ubb34, \ud569\uc791 \uc885\ub8cc \uc2dc \uc9c0\ubd84 \ucc98\ub9ac \ubc29\ubc95 \ub4f1\uc774 \ud575\uc2ec\uc785\ub2c8\ub2e4. \ud569\uc791\ud22c\uc790 \uacc4\uc57d\uc740 \uc7a5\uae30\uc801 \ud30c\ud2b8\ub108\uc2ed\uc744 \uc804\uc81c\ub85c \ud558\ubbc0\ub85c \uad00\uacc4 \uc720\uc9c0\uc640 \ubd84\uc7c1 \uc608\ubc29\uc5d0 \uc911\uc810\uc744 \ub450\uc5b4\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>\uac00\uc871\uae30\uc5c5 \uc2b9\uacc4 \uc2dc \ud575\uc2ec \uc870\ud56d<\/h3>\n<p>\uac00\uc871\uae30\uc5c5\uc758 \uc138\ub300 \uac04 \uc2b9\uacc4\uc5d0\uc11c\ub294 \uc9c0\ubd84 \ubd84\uc0b0 \ubc29\uc9c0\uc640 \uacbd\uc601\uad8c \uc548\uc815\ud654\uac00 \ud575\uc2ec\uc785\ub2c8\ub2e4. \uac00\uc871 \uc678 \uc81c3\uc790\ub85c\uc758 \uc9c0\ubd84 \uc591\ub3c4 \uae08\uc9c0 \ub610\ub294 \uc81c\ud55c, \uc0c1\uc18d \ubc1c\uc0dd \uc2dc \ub2e4\ub978 \uac00\uc871 \uad6c\uc131\uc6d0\uc758 \uc6b0\uc120\ub9e4\uc218\uad8c, \uacbd\uc601 \uc2b9\uacc4 \uc808\ucc28 \ubc0f \ud6c4\uacc4\uc790 \uc120\uc815 \uae30\uc900, \uac00\uc871 \uad6c\uc131\uc6d0 \uac04 \ubd84\uc7c1 \ubc1c\uc0dd \uc2dc \ud574\uacb0 \uc808\ucc28, \ube44\uacbd\uc601 \ucc38\uc5ec \uac00\uc871\uc758 \ubc30\ub2f9\uad8c \ubcf4\uc7a5 \ub4f1\uc744 \uaddc\uc815\ud569\ub2c8\ub2e4. \ud2b9\ud788 \ubbfc\ubc95\uc0c1 \uc720\ub958\ubd84(\ubbfc\ubc95 \uc81c1112\uc870 \ub0b4\uc9c0 \uc81c1118\uc870) \uaddc\uc815\uacfc\uc758 \ucda9\ub3cc \uac00\ub2a5\uc131\uc744 \uac80\ud1a0\ud574\uc57c \ud558\uba70, \uc2e0\ud0c1 \ud65c\uc6a9 \ub4f1 \ub300\uc548\uc801 \uad6c\uc870\ub3c4 \uace0\ub824\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<h3>M&#038;A \uc774\ud6c4 \uc794\ub958 \uacbd\uc601\uc9c4 \uad00\ub9ac<\/h3>\n<p>\uae30\uc5c5 \uc778\uc218 \ud6c4 \uae30\uc874 \uacbd\uc601\uc9c4\uc774 \uc77c\uc815 \uae30\uac04 \uc794\ub958\ud558\ub294 \uacbd\uc6b0(Earn-out \uad6c\uc870 \ub4f1)\uc5d0\ub3c4 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc774 \ud544\uc694\ud569\ub2c8\ub2e4. \uc794\ub958 \uae30\uac04 \ubc0f \uc5ed\ud560, \uc131\uacfc \uc870\uac74\ubd80 \ucd94\uac00 \ub300\uac00(Earn-out) \uc0b0\uc815 \uae30\uc900, \uacbd\uc5c5\uae08\uc9c0 \ubc0f \ube44\ubc00\uc720\uc9c0 \uc758\ubb34, \uc870\uae30 \ud1f4\uc0ac \uc2dc \uc9c0\ubd84 \ucc98\ub9ac(Good Leaver\/Bad Leaver \uad6c\ubd84) \ub4f1\uc744 \uaddc\uc815\ud569\ub2c8\ub2e4. \uc774\ub7ec\ud55c \uacc4\uc57d\uc5d0\uc11c\ub294 \uc778\uc218\uc790\uc640 \uc794\ub958 \uacbd\uc601\uc9c4 \uac04\uc758 \uc774\ud574\uad00\uacc4\ub97c \uc815\uad50\ud558\uac8c \uc870\uc728\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<p>    <!-- FAQ \uc139\uc158 --><br \/>\n    <\/p>\n<h2 id=\"faq\">7. FAQ<\/h2>\n<div class=\"faq-block\">\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q1. \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\uc640 \uc815\uad00\uc758 \ucc28\uc774\uc810\uc740 \ubb34\uc5c7\uc778\uac00\uc694?<\/p>\n<p>A. \uc815\uad00\uc740 \ud68c\uc0ac, \uc8fc\uc8fc, \uc81c3\uc790 \ubaa8\ub450\uc5d0\uac8c \ud6a8\ub825\uc774 \uc788\uace0 \ub4f1\uae30\uc0ac\ud56d\uc774\uc9c0\ub9cc, \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc740 \ub2f9\uc0ac\uc790\uc778 \uc8fc\uc8fc\ub4e4 \uc0ac\uc774\uc5d0\uc11c\ub9cc \ud6a8\ub825\uc774 \uc788\ub294 \ucc44\uad8c\uc801 \uacc4\uc57d\uc785\ub2c8\ub2e4. \ub530\ub77c\uc11c \uc8fc\uc8fc\uac04 \uacc4\uc57d \uc704\ubc18\uc774 \uc788\ub354\ub77c\ub3c4 \ud68c\uc0ac\ubc95\uc0c1 \ud589\uc704(\uc8fc\uc8fc\ucd1d\ud68c \uacb0\uc758 \ub4f1) \uc790\uccb4\uac00 \ubb34\ud6a8\uac00 \ub418\uc9c0\ub294 \uc54a\uc2b5\ub2c8\ub2e4. \ub2e4\ub9cc \uacc4\uc57d \uc704\ubc18\uc790\uc5d0 \ub300\ud574 \uc190\ud574\ubc30\uc0c1\uc774\ub098 \uacc4\uc57d\uc0c1 \uc81c\uc7ac\ub294 \uac00\ub2a5\ud569\ub2c8\ub2e4.<\/p>\n<\/p><\/div>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q2. \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc5d0\uc11c \uc758\uacb0\uad8c \uad6c\uc18d \uc57d\uc815\uc740 \uc720\ud6a8\ud55c\uac00\uc694?<\/p>\n<p>A. \ub300\ubc95\uc6d0 \ud310\ub840(\ub300\ubc95\uc6d0 2017. 3. 23. \uc120\uace0 2015\ub2e468355 \ud310\uacb0)\uc5d0 \ub530\ub974\uba74, \uc758\uacb0\uad8c \uad6c\uc18d \uacc4\uc57d\uc740 \uc6d0\uce59\uc801\uc73c\ub85c \uc720\ud6a8\ud569\ub2c8\ub2e4. \ub2e4\ub9cc \uc0c1\ubc95\uc0c1 \uac15\ud589\uaddc\uc815\uc5d0 \uc704\ubc18\ub418\uac70\ub098 \uc8fc\uc8fc\ud3c9\ub4f1 \uc6d0\uce59(\uc0c1\ubc95 \uc81c344\uc870)\uc744 \uc2ec\ud788 \ud574\uce58\ub294 \uacbd\uc6b0\uc5d0\ub294 \ud6a8\ub825\uc774 \ubd80\uc778\ub420 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \ud2b9\ud788 \uc774\uc0ac \uc120\uc784\uc5d0 \uad00\ud55c \uc758\uacb0\uad8c \uad6c\uc18d\uc740 \uadf8 \ubc94\uc704\uc640 \uae30\uac04\uc774 \ud569\ub9ac\uc801\uc774\uc5b4\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<\/p><\/div>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q3. Tag-along \uad8c\ub9ac\uc640 Drag-along \uad8c\ub9ac\uc758 \ucc28\uc774\ub294 \ubb34\uc5c7\uc778\uac00\uc694?<\/p>\n<p>A. Tag-along(\ub3d9\ubc18\ub9e4\ub3c4\uccad\uad6c\uad8c)\uc740 \ub300\uc8fc\uc8fc\uac00 \uc9c0\ubd84\uc744 \ub9e4\uac01\ud560 \ub54c \uc18c\uc218\uc8fc\uc8fc\ub3c4 \ub3d9\uc77c \uc870\uac74\uc73c\ub85c \ud568\uaed8 \ub9e4\ub3c4\ud560 \uc218 \uc788\ub294 \uad8c\ub9ac\uc774\uace0, Drag-along(\ub3d9\ubc18\ub9e4\ub3c4\uc694\uad6c\uad8c)\uc740 \ub300\uc8fc\uc8fc\uac00 \uc18c\uc218\uc8fc\uc8fc\uc5d0\uac8c \ud568\uaed8 \ub9e4\ub3c4\ud560 \uac83\uc744 \uc694\uad6c\ud560 \uc218 \uc788\ub294 \uad8c\ub9ac\uc785\ub2c8\ub2e4. \uc804\uc790\ub294 \uc18c\uc218\uc8fc\uc8fc \ubcf4\ud638\ub97c, \ud6c4\uc790\ub294 M&#038;A \uac70\ub798\uc758 \uc6d0\ud65c\ud55c \uc9c4\ud589\uc744 \ubaa9\uc801\uc73c\ub85c \ud569\ub2c8\ub2e4.<\/p>\n<\/p><\/div>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q4. \uc8fc\uc8fc\uac04 \uacc4\uc57d \uc704\ubc18 \uc2dc \uc5b4\ub5a4 \uad6c\uc81c\uc218\ub2e8\uc774 \uc788\ub098\uc694?<\/p>\n<p>A. \uc8fc\uc8fc\uac04 \uacc4\uc57d \uc704\ubc18 \uc2dc \uc190\ud574\ubc30\uc0c1\uccad\uad6c, \uc704\uc57d\ubc8c \uccad\uad6c, \uacc4\uc57d\ud574\uc81c \ub4f1 \uc77c\ubc18\uc801\uc778 \uacc4\uc57d\ubc95\uc0c1 \uad6c\uc81c\uc218\ub2e8\uc774 \uac00\ub2a5\ud569\ub2c8\ub2e4. \ub610\ud55c \uacc4\uc57d\uc5d0\uc11c \uc815\ud55c \ubc14\uc5d0 \ub530\ub77c \uc9c0\ubd84 \uac15\uc81c\ub9e4\uc218(Call Option), \uacbd\uc601\uad8c \uc81c\ud55c, \uc774\uc0ac \uc9c0\uba85\uad8c \ubc15\ud0c8 \ub4f1\uc758 \uc81c\uc7ac\ub3c4 \uac00\ub2a5\ud569\ub2c8\ub2e4. \ub2e4\ub9cc \ud68c\uc0ac\ubc95\uc0c1 \ud589\uc704 \uc790\uccb4\ub97c \ubb34\ud6a8\ub85c \ud560 \uc218\ub294 \uc5c6\uc2b5\ub2c8\ub2e4.<\/p>\n<\/p><\/div>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q5. \ubca4\ucc98\ud22c\uc790 \uc2dc \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ud575\uc2ec \uc870\ud56d\uc740 \ubb34\uc5c7\uc778\uac00\uc694?<\/p>\n<p>A. \ubca4\ucc98\ud22c\uc790 \uc2dc\uc5d0\ub294 \uc6b0\uc120\uc8fc \uc804\ud658\uad8c, \ud76c\uc11d\ubc29\uc9c0\uc870\ud56d(Anti-dilution), \uccad\uc0b0\uc6b0\uc120\uad8c(Liquidation Preference), \uc774\uc0ac\ud68c \ucc38\uc5ec\uad8c, \uc815\ubcf4\uc811\uadfc\uad8c, \ub3d9\ubc18\ub9e4\ub3c4\uccad\uad6c\uad8c(Tag-along), \uc6b0\uc120\ub9e4\uc218\uad8c(ROFR), Exit \uc804\ub7b5(IPO, M&#038;A) \ub4f1\uc774 \ud575\uc2ec \uc870\ud56d\uc785\ub2c8\ub2e4. \ud2b9\ud788 \ud22c\uc790\uc790 \ubcf4\ud638\uc640 \ucc3d\uc5c5\uc790\uc758 \uacbd\uc601 \uc790\uc728\uc131 \uac04 \uade0\ud615\uc774 \uc911\uc694\ud569\ub2c8\ub2e4.<\/p>\n<\/p><\/div>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q6. \uac00\uc871\uae30\uc5c5 \uc2b9\uacc4 \uc2dc \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc5d0\uc11c \uc8fc\uc758\ud560 \uc810\uc740 \ubb34\uc5c7\uc778\uac00\uc694?<\/p>\n<p>A. \uac00\uc871\uae30\uc5c5 \uc2b9\uacc4 \uc2dc\uc5d0\ub294 \uc9c0\ubd84 \ubd84\uc0b0 \ubc29\uc9c0\ub97c \uc704\ud55c \uc8fc\uc2dd\uc591\ub3c4\uc81c\ud55c, \uac00\uc871 \uc678 \uc81c3\uc790\ub85c\uc758 \uc9c0\ubd84 \uc720\ucd9c \uae08\uc9c0, \uacbd\uc601\uad8c \uc2b9\uacc4 \uc808\ucc28, \uc0c1\uc18d \ubc1c\uc0dd \uc2dc \uc9c0\ubd84 \ucc98\ub9ac \ubc29\ubc95, \uac00\uc871 \uad6c\uc131\uc6d0 \uac04 \ubd84\uc7c1 \ud574\uacb0 \uc808\ucc28 \ub4f1\uc744 \uba85\ud655\ud788 \uaddc\uc815\ud574\uc57c \ud569\ub2c8\ub2e4. \ud2b9\ud788 \ubbfc\ubc95\uc0c1 \uc720\ub958\ubd84 \uaddc\uc815(\ubbfc\ubc95 \uc81c1112\uc870 \ub0b4\uc9c0 \uc81c1118\uc870)\uacfc\uc758 \ucda9\ub3cc \uac00\ub2a5\uc131\ub3c4 \uac80\ud1a0\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<\/p><\/div>\n<div class=\"faq-item\">\n<p class=\"faq-q\">Q7. \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \uc720\ud6a8\uae30\uac04\uc740 \uc5b4\ub5bb\uac8c \uc815\ud574\uc57c \ud558\ub098\uc694?<\/p>\n<p>A. \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \uc720\ud6a8\uae30\uac04\uc740 \ud22c\uc790 \ubaa9\uc801\uacfc Exit \uc804\ub7b5\uc5d0 \ub530\ub77c \ub2ec\ub77c\uc9d1\ub2c8\ub2e4. \ubca4\ucc98\ud22c\uc790\uc758 \uacbd\uc6b0 \ud1b5\uc0c1 5~7\ub144, \ud569\uc791\ud22c\uc790\ub294 \ud504\ub85c\uc81d\ud2b8 \uae30\uac04\uc5d0 \uc5f0\ub3d9\ud558\ub294 \uac83\uc774 \uc77c\ubc18\uc801\uc785\ub2c8\ub2e4. \uae30\uac04\uc744 \uacfc\ub3c4\ud558\uac8c \uae38\uac8c \uc124\uc815\ud558\uba74 \uc0ac\uc815\ubcc0\uacbd\uc5d0 \ub300\uc751\ud558\uae30 \uc5b4\ub835\uace0, \ub108\ubb34 \uc9e7\uc73c\uba74 \ud22c\uc790\uc790 \ubcf4\ud638\uac00 \ubbf8\ud761\ud574\uc9c8 \uc218 \uc788\uc2b5\ub2c8\ub2e4. \uc5f0\uc7a5 \uc870\uac74\uacfc \uc885\ub8cc \uc0ac\uc720\ub3c4 \ud568\uaed8 \uaddc\uc815\ud574\uc57c \ud569\ub2c8\ub2e4.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<p>    <!-- \uacbd\ud5d8 \uac15\uc870 \ubb38\uad6c --><\/p>\n<p>\ubc95\ubb34\ubc95\uc778 \uc544\ud2c0\ub77c\uc2a4\ub294 \ub2e4\uc591\ud55c \uc0b0\uc5c5 \uc601\uc5ed\uc5d0\uc11c \ubca4\ucc98\uce90\ud53c\ud138 \ud22c\uc790 \uc720\uce58, \uae30\uc5c5 \uac04 \uc804\ub7b5\uc801 \uc81c\ud734, \uac00\uc871\uae30\uc5c5 \uc2b9\uacc4 \ub4f1 \ubcf5\uc7a1\ud55c \uc8fc\uc8fc \uad6c\uc870\ub97c \uac00\uc9c4 \uae30\uc5c5\ub4e4\uc744 \uc704\ud55c \ub9de\ucda4\ud615 \ud611\uc57d \uc124\uacc4 \ub178\ud558\uc6b0\ub97c \ucd95\uc801\ud558\uace0 \uc788\uc2b5\ub2c8\ub2e4. \ud2b9\ud788 \ud574\uc678 \ud22c\uc790\uc790\uac00 \ucc38\uc5ec\ud558\ub294 \uae00\ub85c\ubc8c \uaddc\ubaa8\uc758 \ud22c\uc790 \ud504\ub85c\uc81d\ud2b8\uc5d0\uc11c\ub3c4 \ub2e4\uc218\uc758 \uc131\uacf5\uc801\uc778 \ud611\uc57d \uccb4\uacb0\uc744 \uc9c0\uc6d0\ud55c \uacbd\ud5d8\uc774 \uc788\uc2b5\ub2c8\ub2e4.<\/p>\n<p class=\"disclaimer\" style=\"margin: 20px 0; font-size: 15px; color: #666; font-style: italic;\">\u203b \ubcf8 \uae00\uc5d0\uc11c \uc18c\uac1c\ub41c \uc0ac\ub840\ub294 \uc2e4\uc81c \uc790\ubb38 \uc0ac\uac74\uc744 \ubc14\ud0d5\uc73c\ub85c \ud558\ub418, \uc0ac\uc548\uc758 \uc774\ud574\ub97c \ub3d5\uae30 \uc704\ud574 \uc77c\ubd80 \uc0ac\uc2e4\uad00\uacc4\ub97c \uac01\uc0c9\ud558\uc600\uc73c\uba70 \uc758\ub8b0\uc778\uc758 \uac1c\uc778\uc815\ubcf4\ub294 \ubcf4\ud638\ub418\uc5c8\uc2b5\ub2c8\ub2e4.<\/p>\n<p>    <!-- \uc800\uc790 \uc18c\uac1c: \uae40\ud0dc\uc9c4 \ub300\ud45c\ubcc0\ud638\uc0ac --><\/p>\n<div class=\"author-box\">\n<img decoding=\"async\" class=\"author-avatar\" src=\"https:\/\/atlaw.kr\/wp-content\/uploads\/2022\/12\/\uae40\ud0dc\uc9c4-1.png\" alt=\"\uae40\ud0dc\uc9c4 \ub300\ud45c\ubcc0\ud638\uc0ac \u2014 \ubc95\ubb34\ubc95\uc778 \uc544\ud2c0\ub77c\uc2a4\"><\/p>\n<div class=\"author-text\">\n<div class=\"author-section-label\">\uae00\uc4f4\uc774 \uc18c\uac1c<\/div>\n<div class=\"author-name\">\uae40\ud0dc\uc9c4 | \ub300\ud45c\ubcc0\ud638\uc0ac<\/div>\n<div class=\"author-detail\">\uae30\uc5c5 \uc790\ubb38, \uae30\uc5c5 \ubd84\uc7c1, \uae30\uc5c5 \ud615\uc0ac \uc804\ubb38 \ubcc0\ud638\uc0ac<\/div>\n<div class=\"author-detail\">(\uc804)\uac80\uc0ac | \uc0ac\ubc95\uc5f0\uc218\uc6d0 33\uae30<\/div>\n<div class=\"author-detail\">\uace0\ub824\ub300\ud559\uad50 \ubc95\ud559 \ud559\uc0ac\u00b7\ud615\ubc95 \uc11d\uc0ac, University of California, Davis \ubc95\ud559\uc11d\uc0ac(LL.M.)<\/div>\n<div class=\"author-detail\">\ubc95\ubb34\ubc95\uc778 \uc544\ud2c0\ub77c\uc2a4 | \uc778\ucc9c \uc1a1\ub3c4<\/div>\n<p><a class=\"author-link\" href=\"https:\/\/atlaw.kr\" target=\"_blank\" rel=\"noopener noreferrer\">\ubc95\ubb34\ubc95\uc778 \uc544\ud2c0\ub77c\uc2a4 \ud648\ud398\uc774\uc9c0 \ubc14\ub85c\uac00\uae30 \u2192<\/a>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\ubca4\ucc98\ud22c\uc790, \ud569\uc791\ud22c\uc790, \uac00\uc871\uae30\uc5c5 \uc2b9\uacc4 \ub4f1 \uc0c1\ud669\ubcc4 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ud575\uc2ec \uc870\ud56d\uacfc \uc791\uc131 \uc2dc \uc8fc\uc758\uc0ac\ud56d\uc744 \uc0c1\uc138\ud788 \uc548\ub0b4\ud574\ub4dc\ub9bd\ub2c8\ub2e4. \uc758\uacb0\uad8c \uad6c\uc18d, \uc9c0\ubd84 \ubcc0\ub3d9 \uad8c\ub9ac, \uc704\ubc18 \uc2dc \uc81c\uc7ac \ubc29\uc548\uae4c\uc9c0 \ub2e8\uacc4\ubcc4\ub85c \uc124\uba85\ud569\ub2c8\ub2e4.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"default","_kad_post_title":"default","_kad_post_layout":"default","_kad_post_sidebar_id":"","_kad_post_content_style":"default","_kad_post_vertical_padding":"default","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[14,217,212],"tags":[20,40,42,325,38,39,41],"class_list":["post-54","post","type-post","status-publish","format-standard","hentry","category-14","category-217","category-212","tag-20","tag-40","tag-42","tag-325","tag-38","tag-39","tag-41"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\ubd84\uc7c1 \uc5c6\ub294 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\ub294 \uc5b4\ub5bb\uac8c \uc791\uc131\ud558\ub098\uc694? \ud22c\uc790 \ub2e8\uacc4\ubcc4 \ud544\uc218 \uc870\ud56d \ud574\uc124 | \ubc95\ubb34\ubc95\uc778 \uc544\ud2c0\ub77c\uc2a4<\/title>\n<meta name=\"description\" content=\"\ubca4\ucc98\ud22c\uc790, \ud569\uc791\ud22c\uc790, \uac00\uc871\uae30\uc5c5 \uc2b9\uacc4 \ub4f1 \uc0c1\ud669\ubcc4 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ud575\uc2ec \uc870\ud56d\uacfc \uc791\uc131 \uc2dc \uc8fc\uc758\uc0ac\ud56d\uc744 \uc0c1\uc138\ud788 \uc548\ub0b4\ud574\ub4dc\ub9bd\ub2c8\ub2e4. \uc758\uacb0\uad8c \uad6c\uc18d, \uc9c0\ubd84 \ubcc0\ub3d9 \uad8c\ub9ac, \uc704\ubc18 \uc2dc \uc81c\uc7ac \ubc29\uc548\uae4c\uc9c0 \ub2e8\uacc4\ubcc4\ub85c \uc124\uba85\ud569\ub2c8\ub2e4.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/atlaw.kr\/kr-blog\/\uc8fc\uc8fc\uac04-\ud611\uc57d\uc11c-\uc644\ubcbd-\uac00\uc774\ub4dc-\uae30\uc5c5-\uc548\uc815\uc131\uc744-\uc704\ud55c-\ud544\uc218\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\ubd84\uc7c1 \uc5c6\ub294 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc11c\ub294 \uc5b4\ub5bb\uac8c \uc791\uc131\ud558\ub098\uc694? \ud22c\uc790 \ub2e8\uacc4\ubcc4 \ud544\uc218 \uc870\ud56d \ud574\uc124 | \ubc95\ubb34\ubc95\uc778 \uc544\ud2c0\ub77c\uc2a4\" \/>\n<meta property=\"og:description\" content=\"\ubca4\ucc98\ud22c\uc790, \ud569\uc791\ud22c\uc790, \uac00\uc871\uae30\uc5c5 \uc2b9\uacc4 \ub4f1 \uc0c1\ud669\ubcc4 \uc8fc\uc8fc\uac04 \uacc4\uc57d\uc758 \ud575\uc2ec \uc870\ud56d\uacfc \uc791\uc131 \uc2dc \uc8fc\uc758\uc0ac\ud56d\uc744 \uc0c1\uc138\ud788 \uc548\ub0b4\ud574\ub4dc\ub9bd\ub2c8\ub2e4. \uc758\uacb0\uad8c \uad6c\uc18d, \uc9c0\ubd84 \ubcc0\ub3d9 \uad8c\ub9ac, \uc704\ubc18 \uc2dc \uc81c\uc7ac \ubc29\uc548\uae4c\uc9c0 \ub2e8\uacc4\ubcc4\ub85c \uc124\uba85\ud569\ub2c8\ub2e4.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/atlaw.kr\/kr-blog\/\uc8fc\uc8fc\uac04-\ud611\uc57d\uc11c-\uc644\ubcbd-\uac00\uc774\ub4dc-\uae30\uc5c5-\uc548\uc815\uc131\uc744-\uc704\ud55c-\ud544\uc218\/\" \/>\n<meta property=\"og:site_name\" content=\"\ubc95\ubb34\ubc95\uc778 \uc544\ud2c0\ub77c\uc2a4 \ube14\ub85c\uadf8\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-18T01:25:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-07T21:20:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/atlaw.kr\/kr-blog\/wp-content\/uploads\/sites\/2\/2025\/07\/shareholders-agreement-infographic-scaled-1.png\" \/>\n<meta name=\"author\" content=\"\ubc95\ubb34\ubc95\uc778 \uc544\ud2c0\ub77c\uc2a4\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\uae00\uc4f4\uc774\" 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