Fees related to a potential transaction which in the end is not finalised. These fees are generally borne by the private equity investor.
Bind which unites partners of a company or a project through the sharing of profits and losses, risks and rewards. In case of a listed company, this bind is weak given that any partner/shareholder can exit at anytime. It is much stronger in case of a shareholding by a private equity investor.
The Agence Nationale de Valorisation de la Recherche is a French public institution in charge of advising, accompanying and financing innovative projects. The assistance proposed by ANVAR is a zero interest rate loan which is to be repaid only in case of success, as well as assistance in project management.