viiteosake

Viiteosake is a Finnish term that translates to "reference share" or "voting share." It specifically refers to a type of share in a limited liability company (osakeyhtiö) that grants its holder certain rights, often related to voting at shareholder meetings or influencing company decisions, without necessarily conferring the same economic rights as other shares. These rights are typically defined in the company's articles of association.

The concept of viiteosake allows for a separation of control and economic ownership. For instance, a founder or a core group of individuals might retain viiteosakkeita to ensure continued control over the company's strategic direction even if they have diluted their economic stake through subsequent funding rounds. This can be particularly useful in family businesses or startups where maintaining a specific vision is paramount.

However, the use of viiteosakkeita is subject to Finnish company law and the company's own governing documents. The specific rights and limitations associated with these shares must be clearly stipulated. While they offer a mechanism for control, they can also introduce complexities in corporate governance and may be perceived as less equitable by investors primarily seeking financial returns. The existence and nature of viiteosakkeita are important considerations for anyone involved in Finnish company formation or investment.