Code of conduct
1. Membership in the SLOVCA implies support for the development of the Slovak venture capitalindustry by encouraging entrepreneurial activity and investing in viable economic activity that have a significant growth potential in terms of products, technology, business concepts and services. In addition, members should contribute to the creation of a favorable climate for companies seeking venture capital.
2. Members shall promote and maintain ethical standards of conduct and at all times deal fairly and honestly with each other and with companies seeking venture capital.
3. Members shall conduct their business in a professional way and will not engage in practices, which would be damaging to the image of the venture capital industry.
4. Members recognize that their primary business is building the strength of their investee companies, which will result in the funds under management making capital gains. They will take a long-term view of the economy and venture capital industry to build value over a period of time, rather than to engage in short-term speculation.
5. Members will not malign, defame, or unfairly criticize any other member in any dealings with proposed client companies or otherwise.
6. Members will not use investor funds to promote the welfare or assist its directors, managers, employees, nominees and representatives except insofar as they benefit from the success of the fundaccording to established compensation and profit sharing contracts.
7. Membership of the SLOVCA implies an active involvement by members in the companies in which they invest and this involvement shall be applied constructively to the benefit of the company concerned.
8. Members who sponsor investment syndications with other parties, whether members of the SLOVCA or not, must operate on the basis of full disclosure to such other parties.
9. Members will not accept in their funds subscribed capital, which comes from, unspecified sources and will not represent major "blind" pools of capital.
10. Members shall be accountable to their investors and keep their investors fully and regularly informed, including the provision of regular financial reports.
11. No member shall take improper advantage of his position in the SLOVCA nor abuse any information addressed to the SLOVCA.
12. Members shall respect confidential information supplied to them by companies looking for venture capital or by companies in which they have invested.
13. Members shall provide SLOVCA with information on their investments. This information will be treated confidentially and used in the compilation of venture capital industry reports where only aggregate information will be published.
14. Unethical conduct shall be deemed to include any evasive device intended to cloak noncompliance with the Code of Conduct and any regulations enacted by the Board of Directors of the SLOVCA, for its enforcement.
Members shall require their directors, employees, representatives and nominees to comply with these standards. Members will avoid financing enterprises or participating in activities, which are inconsistent with these goals.