Marco Legal Das Startups Camara
In the rapporteur`s view, stock options, although an important tool for start-ups, are not limited to this and the issue should therefore be addressed in another project used specifically for this purpose. In addition, he cited court decisions stressing the commercial and free nature of this type of instrument, contrary to what was contained in the text adopted by Parliament. In order not to delay the passage of the law, since this issue has been the subject of amendments by several senators, he promised to introduce another bill on the subject. In other words, the possibility for the individual investor to “compensate” for investment losses in unsuccessful startups in the amounts resulting from their departure from successful startups has been removed from the project. The use of these funds for start-ups is allowed for companies that have investment commitments in research, development and innovation related to concessions, for example for the telecommunications or oil sector. The House of Representatives concluded the vote on the legal framework for startups on Tuesday, March 11. The text defines start-ups as start-ups, even with a single partner, and cooperatives, which are active in innovation applied to products, services or business models. The decision will now be submitted to the President for approval. Startups are allowed to provide capital from natural or legal persons, which may or may not result in participation in the startup`s share capital, depending on the type of investment chosen by the parties. Called “Marco das Startups” by parliamentarians, Complementary Law 146/19 defines start-ups, even with a single partner, and cooperatives engaged in innovations applied to products, services or business models.
The draft, drafted by former Congressman JHC and others, also requires start-ups to declare the use of innovative models in their founding act or to comply with the special inova simples regime provided by the statute for micro and small enterprises. PLP 146/2019, drafted by Congressman JHC (PSB-AL), provides the definition of startups and establishes the principles and guidelines for the performance of public administration in this sector. It also provides for measures to promote the business environment and increase the supply of capital for investment in innovative entrepreneurship. In addition, it contains rules for tendering and procurement of innovative solutions by the public administration. The legal framework of startups disciplines, among other things, recruitment by the public administration through specific tender rules. The objective is to solve the needs that require an innovative solution with the use of technology and to use the purchasing power of the State to promote innovation in the productive sector. For those who invest in startups — and recognize the high risk of betting — the maximum is that only about 1% of startups become unicorns (market value over $1 billion), according to studies and research by the Kaufmann Foundation, CB Insights, and SV Angel, already internalized. The House of Representatives adopted seven amendments that modify the version adopted in the Senate. Among them, this removes the possibility for start-up employees to receive a portion of the salary in a stock option.
In this model, professionals would have lower effective remuneration, which would be compensated by future measures. Of the amendments adopted, six received the support of the rapporteur, Mr Vinicius Poit (Novo-SP). The seventh amendment, approved by the PT, excluded from the text the possibility for companies participating in Repes, a special tax regime for the export of IT services, to deduct money invested in investment funds (FIP-Capital Seed) for start-ups from the basis for calculating corporation tax and the social contribution on net income (CSLL). The legislation also creates criteria to make it easier for start-ups to obtain investments and creates protection mechanisms so that investors are not seen as partners and cannot pay their debts with public funds. In addition, the legislation does not provide for investments, which allows the parties to negotiate freely. In addition, launch requests to the PTO should be analyzed as a priority, mls said. Bibliographical references CHAMBER OF DEPUTIES. Supplementary Bill 149/2019. Available from: .