VC early-stage financing primarily occurs in practice through the acquisition of a temporary minority stake in young, high-growth companies. Collateral is typically not provided. The VC investor hopes to achieve a return through the later profitable sale of their share. The unique nature of VC early-stage financing is reflected in a complex contractual framework. In addition to the articles of association, the legal relationships between VC investors, existing shareholders, and the target company are further specified in a participation agreement and a shareholders' agreement on a contractual level. Christoph Winkler elaborates on the legal foundations of VC contract design, particularly from the perspective of the tension between contractual VC agreements and corporate law.