Publication: Equity crowdfunding: tutela del inversor minoritario: especial referencia a los pactos parasociales.
Authors
Conesa Caballero, Óscar
item.page.secondaryauthor
item.page.director
Publisher
Universidad de Murcia, Servicio de Publicaciones.
publication.page.editor
publication.page.department
DOI
https://doi.org/10.6018/analesderecho.631251
item.page.type
info:eu-repo/semantics/article
Description
Abstract
El equity crowdfunding o crowdinvesting permite a una multitud de micro-inversores aportar capital a la sociedad promotora de un proyecto empresarial adquiriendo la condición de socios con una cuota de participación normalmente mínima. El marco legal no brinda una plena y satisfactoria protección a estos nuevos inversores; de ahí la relevancia de los pactos entre socios como pieza clave para proteger al micro-inversor quien, en la mayoría de las ocasiones, tendrá una posición social minoritaria frente a los fundadores o socios pre-existentes, quienes suelen retener el control de la sociedad. En este trabajo se analizan los riesgos fundamentales que acechan a los micro-inversores que deciden lanzarse a la aventura de la multi-financiación en igualdad y, en prevención de ellos, los principales pactos que parasocialmente podrían celebrarse para su mayor y mejor dilución.
Abstract: Equity crowdfunding or crowdinvesting allows a multitude of micro-investors to contribute capital to the company promoting a business project, acquiring the status of partners with a normally minimal shareholding.The legal framework does not provide full and satisfactory protection for these new investors, hence the importance of shareholder agreements as a key element in protecting micro-investors who, in most cases, will have a minority position vis-à-vis the founders or pre-existing shareholders, who usually retain control of the company. This paper analyses the fundamental risks facing micro-investors who decide to embark on the adventure of multi-financing on equal terms and, in order to prevent them, the main agreements that could be entered into between shareholders for their greater and better dilution.
Abstract: Equity crowdfunding or crowdinvesting allows a multitude of micro-investors to contribute capital to the company promoting a business project, acquiring the status of partners with a normally minimal shareholding.The legal framework does not provide full and satisfactory protection for these new investors, hence the importance of shareholder agreements as a key element in protecting micro-investors who, in most cases, will have a minority position vis-à-vis the founders or pre-existing shareholders, who usually retain control of the company. This paper analyses the fundamental risks facing micro-investors who decide to embark on the adventure of multi-financing on equal terms and, in order to prevent them, the main agreements that could be entered into between shareholders for their greater and better dilution.
publication.page.subject
Citation
Conesa Caballero, Óscar. (2026). Equity crowdfunding: tutela del inversor minoritario: Especial referencia a los pactos parasociales. Anales De Derecho, 43(1), 1–40. https://doi.org/10.6018/analesderecho.631251
item.page.embargo
Collections
Ir a Estadísticas
Este ítem está sujeto a una licencia Creative Commons. http://creativecommons.org/licenses/by-nc-nd/4.0/