1. 猊
共享交易
打开财富的大门
REX
Royalty Exchange
opening the doors to capital
2. 共享融资
保留股权 • 增加收入
Company Perspective --
the Issuer of a Royalty Contract
针对企业
发放特权使用融资协议
3. Creating a growing business
is one of life’s great accomplishments:
a successful
business benefits many people.
创造一个成长的企业
是一个人生伟大的成就：
一个成功企业
是有利于更多的人民
4. The owner needs access to capital to grow
and compete in today’s fast-moving
markets. But he also wants to retain
as much control as possible.
So the owner does not like to sell his shares.
在当今市场迅速的向前发展
企业家需要资本的途径成长和竞争
然而他仍想尽可能的
保留掌控
因此企业家不喜欢卖掉他的股份
5. Debt: Advantages
When the business is profitable, the owner
can often negotiate commercial credit.
This does not affect his ownership
unless there are repayment problems.
借贷的长处
当企业是营利的，通常是
企业家能谈判商业信用
这个不影响他对企业的拥有权
除非在还贷出现问题
6. Debt: Disadvantages
The business is in debt,
with significant fixed interest expense.
借贷的短处
企业借债
具有很大的固定的利息开支
7. The company has the burden of debt
and repayment schedules.
Interest rates can be harsh and high.
企业具有债务
和还债时间的负担
利率可能很苛刻和高
9. Equity: Disadvantages
Pressure to earn and declare the maximum
profit possible, so investors can sell their
equity on favorable terms.
产权的短处
压力赚取和申报最大利润的可能因
此投资者可以在其有利的条件上，
出售自己的产权
10. Outside shareholders actually own
part of the business, so they have strong
opinions on how the business should
be managed, how their capital is used,
and how managers and employees are paid
and rewarded.
外面的古董实际上拥有部份企业
所以他们在如何管理企业
有强烈的观点
如他们的资金是如何使用的，
经理和员工的工资
和报酬是多少
11. This can get in the way of the owner’s ability
to manage his business,
which only he knows best.
这都可能阻碍企业家施展能力
来管理他最熟悉的企业
12. Royalties may be better.
They offer more flexibility and freedom
for the company owner
and management.
共享或许比较好
他们对公司老板更灵活和自由
14. 1.Royalties do not transfer ownership.
1 ，特权使用不更换所有权
2. Royalty holders do not have a vote
like shareholders,
or the ability to influence
the company’s management.
2 ，特权使用持有者不像股东有选举权
或对公司的管理
产生影响
15. 3. Royalties are paid automatically, as a cost
of doing business.
They do not appear as a negative (debt)
on the balance sheet.
3 ，特权使用是自动支付的，如运作的成本
他们不显示在债务上
或者在资产负债表上
16. 4. Royalties can be paid at different rates
for different periods, based upon
the cumulative amount of royalties paid.
For example, royalty rates may be
reduced after the investment has been recovered,
or at other critical milestones.
4 ，特权使用可以在不同的费用不同的时期，
根据累计金额支付的特许权使用费
比如，特权使用费可能会在投资已回收后
而降低，或在其他重要的里程碑 。
17. 5. If they get too expensive for the company,
royalties can be redeemed (ended)
for an agreed payment, including
conversion to shares,
at rates negotiated when they are created.
5 ，如果特权使用费对公司而言太高
按照协议价格，包括转换为股份，
在商定的费率被创建时
可以赎回（结束）
18. 6. Royalties can be secured with company
assets, or unsecured,
which affects the royalty rate.
6 ，特权使用可以公司的财产做抵押，
或不抵押
特权使用费会在这两种情况中体现
19. 7. Royalties are negotiated between the company
and the investor,
or his agents, like an investment banker.
At the beginning, terms are not fixed.
They are flexible,
can be customized to suit unique situations.
7, 特权使用是经企业和投资人协商
或他的代理，如同一个投资银行
在一开始，提款不是固定的。它们是灵活的，
可以特制来适应情况
20. 8. Royalties can be bought and sold after they are
issued. If royalties are traded on a public exchange,
companies could negotiate better rates
with investors,since investors could sell their
royalties at any time, like a stock or bond,
with greater possible profits.
8 , 在发放特权使用后可以买断或卖掉
如果特权使用在公共交易所进行买卖，
企业同投资人可以协商更好的价格
正因投资人可以在任何时候像股票或债捐一
样卖掉他们的特权使用，
以获得更高利益的可能
21. The role of REX and its Associates
Royalty terms are negotiated by the
company and the investor,
based on a proprietary formula
developed by REX.
霸王龙的角色和它的业务对象
特权使用是在霸王龙研发专利公式的基础上，
由企业和投资人商定的协议
22. REX personnel are available as
consultants in China alongside
America-China Bridge experts to advise
on a proprietary formula developed by REX
霸王龙在中国有专职顾问人员
与中美桥专家兼顾
霸王龙研发的专利公式运作
23. REX licenses its patent to the company,
which includes model contracts and its
proprietary formula, for a modest fee
and a small percentage of the royalty.
霸王龙给企业发行专利特许证
包括合同模式和专利公式，收取一个象征性的执照费
和一个小小的特权使用的百分比
24. A royalty of 10% of REX revenue in China
is donated to the Zhou Enlai Peace Institute,
as a contribution to
international peace, understanding and respect.
霸王龙特权使将 10 ％在中国的年收入捐献给
周恩来和平研究院，
作为对国际和平的贡献，理解尊重
25. The REX system is based on Chinese tradition,
and is consistent with
the high ethical and social principles
of Premier Zhou Enlai
霸王龙系统是基于中国的传统，
并符合周恩来总理的高尚道德
和社会原则
26. REXRoyaltyFinancingCalculator.com provides
a Sample section and estimated
investment returns, so companies can
understand how all factors connect
with each other.
提供提供了一个示例部分和预计投资回报率，
因此企业可以了解各方面的因素是如何相互连接
27. REXRoyaltyDialogueExchange.com
facilitates communication
among companies interested
in using royalties.
促进交流对感兴趣使用特权使用的企业家们
28. Summary:
From the Company’s view,
Royalties may be a better method
of financing because:
摘要： 站在企业家的角度，
特权使用可能是一个更好的融资方法
29. 1. they provide good value for capital investors,
who like simplicity;
it may be easier to attract capital
资本投资者，喜欢简单的人，
他们提供了良好的价值 ; 它可能更容易吸引资金
30. 2. no company ownership is sold,
so current shareholders
retain their percentage of ownership
没有一家公司的所有权被出售，
所以现有股东保留其所有权百分比
31. 3. management control is maintained;
no investor interference
in business decisions or compensation plans
在商业决策中或补偿计划
保持管理控制，没有投资者的干扰
4. no debt is incurred
不产生任何债务
