Criminal Defense Attorney
There are many branches of law in the United States. Forinstance, civil law is the law as it pertains to personalrelationships, unions such as marriage, and interpersonalsituations such as personal injury cases. Criminal Law is thebranch of law that seeks to define crimes - what a crime is, whothe victim is, and who the perpetrator is. Criminal law can bedivided into two sections, each section involving specializedlawyers, criminal defense lawyers. The first type of criminallaw is criminal procedure. This subsection of criminal lawdefines how trials are to be conducted. Criminal procedure lawdictates how claims are to be investigated and outlines howevidence must be collected.
Criminal procedure aims to maintain an orderly legal system thatis most effective in the pursuit of justice in light of thetruth. Criminal Defense attorneys who specialize in criminalprocedure are very careful to review how evidence is collected.They will be very specific in regards to their client's rightand privileges under the law. A criminal defense attorney willensure that the ideal of "innocent until proven guilty" ismaintained through the investigation and presentation process.
The second type of criminal law is substantive. Substantivecriminal law focuses on crime and punishment. Criminal DefenseAttorneys involved in the substantive area of criminal law willbe working with individuals accused of a crime. They will beginwork when sought out by a client accused of a crime or appointedby the court, as in cases of financial need. Criminal defenseattorneys will meet with clients and hear the details of eventsfrom their point of view. Everything shared between a client andhis or her criminal defense attorney is confidential. A criminaldefense attorney will not turn a client in if the client admitsguilt, but will continue to help the client achieve success inthe courtroom.
A good criminal defense attorney understands that everything isrelative. The law is not black and white, but leaves a lot ofgray room for interpretation. A criminal defense attorney willgather all of the facts of the case, both from the client andfrom the state or federal investigators. Armed with the facts, acriminal defense attorney will begin to build a case thatpresents the client in the best possible light. IF the client isguilty, the criminal defense attorney will try to present thefacts of the case in such a way as to maintain a doubt of guilt.The jury, as the criminal defense attorney knows, is instructedthat a person on trial must be proven guilty and does not needto be proven innocent. They will begin to comb through possiblewitnesses and will divide witnesses into character witnesses andwitnesses to the actual events in question. A criminal defenseattorney knows that character witnesses to present the personstanding in trial in a good light will go a long way in theminds of jury members.
When a criminal defense attorney is defending a client, theywill also seek to ensure the punishment fits the crime if theirclient is found guilty. A criminal defense attorney will utilizerelativity to demand proportionality of punishment to crime intheir client's best interest. A criminal defense attorney standsby their client until the trial's end, ensuring the outcome isas favorable as possible for their client
December 23, 2009
December 17, 2009
materi 11 bank dan lembaga keuangan lainnya
BAB 11
LEMBAGA PEMBIAYAAN
A. Sewa Guna Usaha (Leasing)
1. Pengertian Sewa Guna Usaha
Pengertian dari sewa guna usaha adalah adanya hubungan antara
perusahaan leasing (lessor) dengan nasabah (lessee) dalam hal ketika lessee
membutuhkan jasa lessor untuk sewa guna barang yang dibutuhkan oleh lessee.
Sedangkan pengertian sewa guna usaha sesuai dengan keputusan Menteri
Keuangan No. 1169/KMK.01/1991 adalah kegiatan pembiayaan dalam bentuk
penyediaan barang modal, baik secara sewa guna usaha dengan hak opsi (finance
lease) maupun secara sewa guna usaha tanpa hak opsi (operating lease) utuk
digunakan oleh lessee selam jangka waktu tertentu berdasarkan pembayaran secara
berkala. Selanjutnya yang dimaksud dengan finance lease adalah kegiatan sewa
guna usaha di mana lessee pada akhir masa kontrak mempunyai hak opsi untuk
membeli objek sewa guna usaha berdasarkan nilai sisa yang disepakati. Sebaliknya
operating lease tidak memiliki hak opsi untuk membeli objek sewa guna usaha.
2. Kegiatan leasing
Kegiatan yang dilakukan oleh sewa guna usaha menurut Surat Keputusan Menteri
Keuangan Nomor 1169/KMK.01/1991 tanggal 21 November 1991. Kegiatan
leasing dapat dilakukan dengan dua (dua) cara yaitu :
a. Melakukan sewa guna usaha dengan hak opsi bagi lessee (finance leasing)
Adapun kriteria untuk finance leasing apabila perusahaan leasing memenuhi
persyaratan sebagai berikut :
1.) Jumlah pembayaran sewaguna usaha dan selama masa sewa guna usaha
pertama kali, ditambah dengan nilai sisa barang yang dilease harus dapat
menutupi harga perolehan barang modal yang dileasekan dan keuntungan
bagi pihak lessor.
2.) Dalam perjanjian sewa guna uaha memuat ketentuan mengenai hak opsi
bagi lessee.
Kemudian di dalam prakteknya transaksi finance leasing dibagi lagi ke dalam
bentuk-bentuk sebagai berikut :
- Direct finance lease
nama lain dari transaksi ini adalah true lease, di mana dalam transaksi ini
pihak lessor membeli barang modal atas permintaan lessee dan sekaligus
menyewagunakan barng tersebut kepada lessee. Oleh karena itu proses
pembelian yang dilakukan lessor hanyalah untuk memenuhi kebutuhan
pihak lessee.
- Sales and lease back
Prose ini dilakukan dimana pihak lessee menjual barang modalnyakepada
lessor untuk dilakukan kontrak sewa guna usaha atas barang tersebut, yaitu
anta lessee dan lessor, hal ini dilakuakn bila lessee membutuhkan modal
kerja.
b. Melakukan sewa guna usaha tanpa hak opsi (operating lease)
Berikut krietaria untuk operating lease :
- Jumlah pembayaran selama masa leasing pertama tidak dapat memenuhi
harga perolehan barang modal yang dileasekan ditambah keuntungan bagi
pihak lessor.
- Di dalam perjanjian leasing tidak memuat mengenai hak opsi bagi lessee.
2. Perjanjian Leasing
perjanjian yang dibuat antara lessor dengan lease disebut dengan “lease
agrement”, di mana di dalam perjanjian tersebut memuat kontrak kerja bersyarat
antara kedua belah pihak, yaitu antara lessor dan lessee. Isi kontrak tersebut
memuat antara lain :
a. Nama dan alamat lease
b. Jenis barang modal yang diinginkan
c. Jumlah atau nilai barang yang dileasingkan
d. Syarat-syarat pembayaran
e. Syarat-syarat kepemilikan atau syarat lainnya
f. Biaya-biaya yang dikenakan
g. Sangsi-sangsi apabila lessee ingkar janji
Jika seluruh pesyaratan telah disetujui, maka pihak lessor akan menghubungi
pihak asuransi untuk menanggung resiko kemacetan pembayaran lessee.
B. Anjak Piutang
Bidang usaha Anjak piutang secara bisnis termasuk sebagai salah satu jenis
usaha pembiayaan. Sejak pasca krisis ekonomi mulai tahun 1998, Anjakpiutang
mengalami pertumbuhan yang lambat dibandingkan dengan jenis pembiayaan
multifinance lainnya yang lebih mengandalkan 'security dari barang yang dibiayai.
Hal ini disebabkan adanya perbedaan mengenai 'security, karena Anjak-piutang
yang mengandalkan pembayaran atas tagihan piutang dagang memang secara
teknis risikonya dianggap lebih tinggi ketimbang jenis usaha pembiayaan lainnya.
asal-muasal lahimya lembaga factoring. Lembaga hukum yang dimaksud
itu mampu mengatasi "'problem cash Flow”. Dikenal pertama kali di Negara yang
menganut Common Law System, yakni Amerika Serikat dan Inggris. Bentuk dari
suatu transaksi bisnis yang menjembatani permasalahan tersebut adalah transaksi
Factoring yang dikemas dalam Factoring Agreement. Salah satu literatur hukum
dari jurisprudensi Amerika dan Inggris, seperti yang ditulis oleh ahli hukum
terkenal Henry Campbell Black dalam bukunya Black's Law Dictionary tentang
terminology factoring adalah “Sale of accounts receivable of a fine to a factor at a
discounted price. The purchase of accounts receivable from business by a factor,
who thereby assumes the risk of loss in return for some agreed discount" Dikutip
dalam perkara Manhattan Factoring vs Orsbum. And A system involving notice to
the trade debtors, di mulai dari industry textile lihat perkara Corn Exchange Nat.
Bank & Trust Co., Philadelphia vs. Klauder. Adapun hubungan bisnis dan
pergaulan bisnis yang meluas itu telah memberikan pengaruh dan dikenalnya sitem
factoring dikalangan pelaku bisnis. Meskipun factoring itu sendiri tidak dikenal
dalam Civil Law System yang dianut di Indonesia. Namun atas permintaan dan
memenuhi keinginan pelaku bisnis melalui 'pekerjaan' para "Lawyer/Drafter”
untuk dibuatlah Factoring Agreement yang dapat dipakai di Indonesia, di mana
dasar hukum yang utama adalah azas kebebasan berkontrak, yakni pasal 1338 ayat
1 BW.
Pihak-pihak yang terlibat di dalam kegiatan Anjak-piutang adalah :
1. Factor adalah kreditur baru yang mengambil-alih atau membeli tagihan piutang
dagang;
2. Klien adalah perusahaan selaku kreditur awal yang menjual dan menyerahkan
piutang dagang yang berupa tagihan jangka pendek yang berasal dari transaksi
dagang miliknya melalui suatu perjanjian (Factoring Agreement);
3. Konsumen adalah pihak tertarik yang wajib membayar hutang dagangnya
yang telah dialihkan oleh klien kepada pihak factor pada saat jatuh temponya.
Penerapan hukum Anjak-piutang menurut pendapat majelis hakim pengadilan
niaga di Indonesia, seperti dalam penelitian terhadap 7 putusan majelis hakim
dalam perkara permohonan pailit menunjukkan perbedaan di dalam
menafsirkan dan memahami pengertian dan konsep hukum Anjakpiutang, baik
sebagai utang atau sebagai pembelian piutang. Yang mencolok di antaranya
ada 1(satu) putusan mengenai pembelian piutang dalam perkara PT. Batara
Intemasional Finansindo (PT. BIF) mengajukan permohonan pailit terhadap
PT. Gabus Putih Indah (PT. GPI) atas dasar Perjanjian Factoring.
Putusan ini memuat pertimbangan ratio hukum Anjak piutang mendasarkan
pada Keputusan Menteri Keuangan, yaitu dibuktikan adanya keterlibatan tiga
pihak, yaitu factor sebagai pembeli piutang(PT. BIF), klien sebagai penjual
piutang(PT. GPI), dan yang terakhir adalah konsumen atau pelanggan yang
wajib membayar piutang tersebut. Hubungan hukum dalam Factoring ini
menurut pendapat majelis hakim, bahwa walaupun tennuat klausula recourse
yang tetap membebankan risiko kegagalan membayar kepada klien, namun
disisi lain juga membatasi kewenangan hukum klien untuk menagih kepada
konsumen. Dalam hal ini kewenangan menagih tetap pada factor, kecuali
secara tertulis factor meminta klien untuk melakukan penagihan. Kegagalan
PT. BIF melakukan pemindahan hak tagih yang pantas dari PT.BIF sebagai
factor kepada PT. GPI sebagai klien bukanlah obyek utang dad PT. BIF kepada
PT.GPI.
Pertimbangan Majelis Kasasi dalam perkara PT. BIF dengan PT. GPI yang
termuat dalam memori kasasi, diantaranya menyebutkan, bahwa Judex Factie
tidak salah menerapkan hukum dan dasar pengakuan utang adalah perjanjian
Anjak-piutang yang menurut pendapat hukum dad Majelis Kasasi perjanjian
tersebut tidak ada di karenakan PT. BIF dan PT. GPI telah sepakat
mengakhiri perjanjian Anjak-piutang, sedangkan status hubungan diantara
debitur dan kreditur tidaklah dapat dibuktikan secara sederhana, sehingga
penyelesaian sengketa ini haruslah diajukan ke Pengadilan Negeri.
Ruang lingkup Anjak-piutang diperkenalkan lewat lembaga pembiayaan. Oleh
karenanya nuansa dan karakter pembiayaan sangat mewarnai hubungan yang
tercipta di dalam lembaga Anjak-piutang di Indonesia. Karakter pembiayaan
erat kaitannya dengan hubungan utang-piutang. Konsep utang piutang terdapat
dua sisi produk perbuatan, yaitu utang dan piutang. Utang adalah produk
perbuatan dari sisi pihak yang memperoleh pinjaman sejumlah uang,
sedangkan piutang adalah produk perbuatan dilihat dari sisi pihak yang
memberi pinjaman sejumlah uang. Sifat pembiayaan ini menyebabkan adanya
unsur biaya bunga sebagai pengganti diskonto dan adanya limit(plafond) kredit
yang diperjanjikan dan adanya sifat retensi. Di dalam praktek perbankan, pihak
pemberi pinjaman dan pihak penerima pinjaman atau peminjam yang dikemas
dalam suatu perjanjian kredit yang merupakan perjanjian pokok dan biasanya
diikuti dengan perjanjian jaminan. Perjanjian pokok yang dimaksud lebih
dikenal sebagai Perjanjian Kredit untuk meMbiayai Piutang Dagang (Account
Receivable(AR) Financing Program). Perkembangan selanjutnya Anjak
piutang, berupa model percampuran, dimana bentuk pembiayaan bersama-sama
dengan pembelian dan pengalihan berada dalam satu pengertian Anjak-piutang.
Kelembagaan pembiayaan, dan pembelian tersebut dalam khasanah hukum
Indonesia masing-masing mempunyai dasar-hukum. Untuk itu diperlukan
interpretasi sistematis terhadap suatu undang-undang sebagai bagian dan
keseluruhan sistem perundang-undangan dengan jalan menghubungkan dengan
undang undang lain.
C. Modal Ventura
1. Pengertian Modal Ventura
Pengertian modal ventura sesuai dengan Keputusan Presiden Nomor 61
Tahun 1988 adalah “Badan usaha yang melakukan suatu pembiayaan dalam bentuk
penyertaan modal ke dalam suatu perusahaan yang menerima bnatuan
pembiayaan.” Modal ventura adalah perusahaan yang memberikan pembiayaan
dengan cara melakukan penyertaan langsung ke dalam perusahaan yang dibiayai,
dan keuntungan dari modal ventura berupa deviden atau capital gain.
2. Tujuan Pendirian Modal Ventura
Tujuan dari perusahaan ini tidaklah hanya demi keuntungan semata namun juga
membantu pemerintah dan piahk yng ingin membangun atau mendirikan sebuah
usaha, berikut adalah beberapa tujuan pendirian modal ventura :
a. Untuk mengembangkan suatu proyek tertentu, misalnya proyek penelitian,
dimana proyek ini bukan hanya untuk meraih keuntungan semata tetapi juga
untuk pengembangan pengetahuan.
b. Pengembangan suatu teknologi baru atau penegmbangan produk baru.
c. Pengambilalihan kepemilikan suatu perusahaan
d. Kemitraan dalam rangka pengentasan kemiskinan, dalam hal ini modal ventura
membantu pengusaha lemah yang kekurangan modal akan tetapi tidak
memiliki jaminan materi sehingga sulit memperoleh pinjaman.
e. Membantu perusahaan yang sedang kekurangan likuiditas.
3. Jenis Pembiayaan Modal Ventura
Jenis-jenis pembiayaan perusahaan modal ventura adalah sebagai berikut :
a. Equity Financing
Merupakan jenis pembiayaan langsung. Dalam hal ini perusahaan modal
ventura melakukan penyertaan langsung pada perusahaan pasangan usaha
(PPU) dengan cara mengambil bagian dari sejumlah saham milik PPU.
b. Semi Equity Financial
Merupakan pembiayaan dengan membeli obligasi konversi yang diterbitkan
oleh perusahaan PPU.
c. Mendirikan perusahaan baru
Dalam hal ini perusahaan modal ventura bersama-sama dengan PPU
mendirikan usaha yang baru sama sekali.
d. Bagi hasil
Merupakan pembiayaan kepada usaha kecil yang belum memiliki bentuk badan
hukum perseroan terbatas, namun dapat pula perusahaan yang berbentuk PT,
apabila kedua belak pihak menyetujuinya.
4. Perkembangan Modal Ventura
Modal ventura adalah perusahaan yang berani melakukan investasi dimana
Di antara sekian banyak perusahaan modal ventura yang tumbuh dan tenggelam,
keberadaan perusahaan bentukan pemerintah yakni PT Bahana Arta Ventura
(BAV) plus 26 perusahaan modal ventura daerah (PMVD) cukup berperan
membantu perkembangan UKM.
Sejarah perkembangan perusahaan modal ventura di Indonesia cukup
panjang kendati relatif masih muda dibandingkan sejarah kehadiran lembaga
serupa di luar negeri. Perusahaan modal ventura diawali dengan pembentukan
BUMN PT Bahana Pembinaan Usaha Indonesia (BPUI). Lalu, pada tahun 1973,
BPUI mendirikan PT Bahana Artha Ventura (BAV) yang sahamnya 100% dimiliki
oleh BPUI. Namun menyangkut kinerja agaknya masih jauh dari yang diharapkan,
perusahaan modal ventura kurang berkembang. Pembiayaan PMVD berdasarkan
sektor-sektor persentase
Industri 15%
Perdagangan 23%
Pertanian 19%
Home industri 1%
Jasa 4 2%
Sumber: BAV, 2003
Karena itu pada 1988 pemerintah meluncurkan ketentuan baru-bagian dari
reformasi finansial-yang memungkinkan lahirnya perusahaan sejenis milik swasta,
baik swasta nasional maupun usaha patungan dengan asing di Jakarta maupun di
daerah.
Akhirnya beberapa perusahaan modal ventura saat itu mulai hadir a.l. PT BNJI
(perusahaan patungan Bank BNI dengan Nomura Jaffco) serta perusahaan
patungan PT Danareksa dengan perusahaan Jepang dan Brunei Darussalam. Selain
itu, berbagai grup perusahaan besar juga ikut mendirikan divisi perusahaan modal
ventura.
Namun tidak sedikit perusahaan swasta gulung tikar akibat usahanya yang
tidak lagi menguntungkan akibat kesalahan investasi, kesulitan permodalan, hingga
bangkrutnya perusahaan pasangan usaha (PPU) akibat krisis. Menurut sumber
Bisnis di Departemen Keuangan, krisis ekonomi sejak 1997 memberi kontribusi
gulung tikarnya usaha sebagian perusahaan modal ventura swasta. Selain ada yang
diam-diam tidak aktif, beberapa perusahaan minta kepada Depkeu untuk mencabut
izin usahanya. "Sistem penyampaian pelaporan lembaga keuangan ini memang
tidak seketat sistem perbankan," ujar sumber tadi. Paling tidak, ada dua faktor yang
menyebabkan perusahaan-perusahaan 'pelat merah' itu sampai kini mampu
bertahan. Kemampuan modal dan pendanaan yang cukup memadai serta bidikan
pembiayaan yang fokus pada usaha kecil. Dilihat dari besar nominal, modal
masing-masing PMVD separuhnya di atas angka Rp3 miliar, cukup besar bagi
sebuah perusahaan pembiayaan di daerah yang membidik usaha kecil, bahkan
mikro. Dari keseluruhan modal setiap PMVD, kontribusi BAV cukup bervariasi.
PT Sarana Sumatra Selatan Ventura misalnya, kontribusi BAV terhadap
keseluruhan modal Rp7,08 miliar atau 21%, sementara pada PT Sarana Nusa
Tenggara Timur Ventura mencapai 87% dari keseluruhan modal Rp3 triliun.
Dengan kebutuhan pembiayaan rata-rata hanya Rp100 juta, setiap PMVD paling
tidak sudah mampu membiayai sekurangnya 30 PPU. Belum lagi suntikan dana
dari JEXIM (Japan Export - Import Bank) yang cukup signifikan sejak Maret 1997.
Berdasarkan catatan Bisnis, pinjaman lunak yang dicanangkan Presiden Soeharto
pada saat itu berjumlah Y14 miliar atau senilai Rp21 miliar dengan kurs pada 1997
dengan sasaran utama kalangan UKM yang memiliki prospek ekspor dan padat
karya.
Sekadar diketahui, jangka pinjaman tersebut berakhir hingga 2000. Namun
karena alasan kebutuhan tenggang waktu pelunasan itu diperpanjang hingga
Desember tahun ini. JEXIM mengenakan bunga 6,5%, sementara BAV
menyalurkannya kepada PMVD dengan bunga 8,5%. Ketua Asosiasi Perusahaan
Modal Ventura Daerah (PMVD) Yopie S. Batubara mengatakan nilai pinjaman
JEXIM saat ini tercatat sekitar Rp1,2 triliun dan sudah mulai diangsur melalui
BAV. Kalangan PMVD agaknya sangat tertolong dengan suntikan dana tersebut.
Hal ini ditunjukkan dengan peningkatan jumlah PPU maupun nilai investasi yang
meningkat tajam sejak 1997. Bila pada 1996 kemampuan BAV dan PMVD baru
mampu membiayai 558 unit PPU dengan total investasi Rp3,7 miliar maka akhir
tahun berikutnya sudah tercatat 1.481 unit PPU dengan nilai investasi Rp227,34
miliar.
Dari sisi jumlah maupun nilai investasi, jumlah tersebut terus bertambah banyak
sampai akhir 2002 dengan jumlah PPU 7.382 unit dan investasi Rp1,43 triliun,
namun rata-rata penyertaan bervariasi Pada tahun pertama, rata-rata investasi
perusahaan modal ventura daerah tersebut mencapai Rp168 juta dan meningkat
187 juta pada 1995, setahun berikutnya rata-rata penyertaan menurun menjadi
Rp86 juta dan 1997 sekitar Rp89 juta. Semakin kecilnya rata-rata penyertaan pada
perusahaan mitra bisa menunjukkan bahwa PPU yang digandeng menjadi pasangan
usaha adalah perusahaan skala kecil atau bahkan mikro.
Hal ini juga bisa menunjukkan strategi perusahaan modal ventura untuk
melakukan diversifikasi risiko pembiayaan karena semakin banyak PPU dengan
nilai investasi yang semakin kecil terjadi penyebaran risiko. Faktor inilah agaknya
menjadi salah satu penentu kemampuan perusahaan modal ventura 'pelat merah'
mampu bertahan bahkan cenderung berkembang di tengah ambruknya sebagian
perusahaan yang tidak tahan krisis. Apalagi secara umum, perusahaan skala mikro,
kecil dan menengah (UMKM) kenyataannya mampu membuktikan diri sebagai
entitas bisnis yang tahan krisis.Pendanaan terancam
Di saat perusahaan modal ventura mampu menunjukkan kemampuannya menjadi
mitra bagi UMKM, mereka ternyata cukup khawatir akibat jangka waktu pinjaman
JEXIM segera berakhir. Apalagi sejauh ini belum ada sumber dana pengganti.
Tentu saja, seiring ditariknya dana tersebut kemampuan pendanaan
perusahaan modal ventura pemerintah semakin lemah. Bahkan, menurut Komisaris
BAV Hendi Kariawan, pada 2004 perusahaan-perusahaan modal ventura
diperkirakan tidak bisa membiayai PPU baru dan sekadar menjadi kolektor
penyertaan. Berbagai upaya telah ditempuh, termasuk desakan kepada Menkeu
untuk meminta JEXIM melakukan rescheduling pinjaman tersebut. Bukan karena
bermasalah, tapi lagi-lagi faktor kebutuhan pembiayaan. "Ini harus dilakukan bila
pemerintah masih menginginkan perusahaan pembiayaan yang dirintis sejak 1991
tersebut tetap bisa membiayai kalangan UKM," ujar Ketua APMVD Yopie S.
Batubara. Desakan agar pemerintah menjadwal ulang pinjaman tersebut, menurut
dia, semata untuk mempertahankan usaha PMVD yang sudah didukung sistem
yang mapan itu bisa tetap berjalan baik. Bila tidak, tambah Sekjen APMVDI
Wahyono, krisis pendanaan tersebut mengancam kelangsungan hidup PMVD
hanya sampai 2004. Bila sampai tahun itu tidak mendapatkan pinjaman lunak
maka diperkirakan mereka hanya melakukan fungsi collecting. investasi tersebut
mengandung resiko yang tinggi.
LEMBAGA PEMBIAYAAN
A. Sewa Guna Usaha (Leasing)
1. Pengertian Sewa Guna Usaha
Pengertian dari sewa guna usaha adalah adanya hubungan antara
perusahaan leasing (lessor) dengan nasabah (lessee) dalam hal ketika lessee
membutuhkan jasa lessor untuk sewa guna barang yang dibutuhkan oleh lessee.
Sedangkan pengertian sewa guna usaha sesuai dengan keputusan Menteri
Keuangan No. 1169/KMK.01/1991 adalah kegiatan pembiayaan dalam bentuk
penyediaan barang modal, baik secara sewa guna usaha dengan hak opsi (finance
lease) maupun secara sewa guna usaha tanpa hak opsi (operating lease) utuk
digunakan oleh lessee selam jangka waktu tertentu berdasarkan pembayaran secara
berkala. Selanjutnya yang dimaksud dengan finance lease adalah kegiatan sewa
guna usaha di mana lessee pada akhir masa kontrak mempunyai hak opsi untuk
membeli objek sewa guna usaha berdasarkan nilai sisa yang disepakati. Sebaliknya
operating lease tidak memiliki hak opsi untuk membeli objek sewa guna usaha.
2. Kegiatan leasing
Kegiatan yang dilakukan oleh sewa guna usaha menurut Surat Keputusan Menteri
Keuangan Nomor 1169/KMK.01/1991 tanggal 21 November 1991. Kegiatan
leasing dapat dilakukan dengan dua (dua) cara yaitu :
a. Melakukan sewa guna usaha dengan hak opsi bagi lessee (finance leasing)
Adapun kriteria untuk finance leasing apabila perusahaan leasing memenuhi
persyaratan sebagai berikut :
1.) Jumlah pembayaran sewaguna usaha dan selama masa sewa guna usaha
pertama kali, ditambah dengan nilai sisa barang yang dilease harus dapat
menutupi harga perolehan barang modal yang dileasekan dan keuntungan
bagi pihak lessor.
2.) Dalam perjanjian sewa guna uaha memuat ketentuan mengenai hak opsi
bagi lessee.
Kemudian di dalam prakteknya transaksi finance leasing dibagi lagi ke dalam
bentuk-bentuk sebagai berikut :
- Direct finance lease
nama lain dari transaksi ini adalah true lease, di mana dalam transaksi ini
pihak lessor membeli barang modal atas permintaan lessee dan sekaligus
menyewagunakan barng tersebut kepada lessee. Oleh karena itu proses
pembelian yang dilakukan lessor hanyalah untuk memenuhi kebutuhan
pihak lessee.
- Sales and lease back
Prose ini dilakukan dimana pihak lessee menjual barang modalnyakepada
lessor untuk dilakukan kontrak sewa guna usaha atas barang tersebut, yaitu
anta lessee dan lessor, hal ini dilakuakn bila lessee membutuhkan modal
kerja.
b. Melakukan sewa guna usaha tanpa hak opsi (operating lease)
Berikut krietaria untuk operating lease :
- Jumlah pembayaran selama masa leasing pertama tidak dapat memenuhi
harga perolehan barang modal yang dileasekan ditambah keuntungan bagi
pihak lessor.
- Di dalam perjanjian leasing tidak memuat mengenai hak opsi bagi lessee.
2. Perjanjian Leasing
perjanjian yang dibuat antara lessor dengan lease disebut dengan “lease
agrement”, di mana di dalam perjanjian tersebut memuat kontrak kerja bersyarat
antara kedua belah pihak, yaitu antara lessor dan lessee. Isi kontrak tersebut
memuat antara lain :
a. Nama dan alamat lease
b. Jenis barang modal yang diinginkan
c. Jumlah atau nilai barang yang dileasingkan
d. Syarat-syarat pembayaran
e. Syarat-syarat kepemilikan atau syarat lainnya
f. Biaya-biaya yang dikenakan
g. Sangsi-sangsi apabila lessee ingkar janji
Jika seluruh pesyaratan telah disetujui, maka pihak lessor akan menghubungi
pihak asuransi untuk menanggung resiko kemacetan pembayaran lessee.
B. Anjak Piutang
Bidang usaha Anjak piutang secara bisnis termasuk sebagai salah satu jenis
usaha pembiayaan. Sejak pasca krisis ekonomi mulai tahun 1998, Anjakpiutang
mengalami pertumbuhan yang lambat dibandingkan dengan jenis pembiayaan
multifinance lainnya yang lebih mengandalkan 'security dari barang yang dibiayai.
Hal ini disebabkan adanya perbedaan mengenai 'security, karena Anjak-piutang
yang mengandalkan pembayaran atas tagihan piutang dagang memang secara
teknis risikonya dianggap lebih tinggi ketimbang jenis usaha pembiayaan lainnya.
asal-muasal lahimya lembaga factoring. Lembaga hukum yang dimaksud
itu mampu mengatasi "'problem cash Flow”. Dikenal pertama kali di Negara yang
menganut Common Law System, yakni Amerika Serikat dan Inggris. Bentuk dari
suatu transaksi bisnis yang menjembatani permasalahan tersebut adalah transaksi
Factoring yang dikemas dalam Factoring Agreement. Salah satu literatur hukum
dari jurisprudensi Amerika dan Inggris, seperti yang ditulis oleh ahli hukum
terkenal Henry Campbell Black dalam bukunya Black's Law Dictionary tentang
terminology factoring adalah “Sale of accounts receivable of a fine to a factor at a
discounted price. The purchase of accounts receivable from business by a factor,
who thereby assumes the risk of loss in return for some agreed discount" Dikutip
dalam perkara Manhattan Factoring vs Orsbum. And A system involving notice to
the trade debtors, di mulai dari industry textile lihat perkara Corn Exchange Nat.
Bank & Trust Co., Philadelphia vs. Klauder. Adapun hubungan bisnis dan
pergaulan bisnis yang meluas itu telah memberikan pengaruh dan dikenalnya sitem
factoring dikalangan pelaku bisnis. Meskipun factoring itu sendiri tidak dikenal
dalam Civil Law System yang dianut di Indonesia. Namun atas permintaan dan
memenuhi keinginan pelaku bisnis melalui 'pekerjaan' para "Lawyer/Drafter”
untuk dibuatlah Factoring Agreement yang dapat dipakai di Indonesia, di mana
dasar hukum yang utama adalah azas kebebasan berkontrak, yakni pasal 1338 ayat
1 BW.
Pihak-pihak yang terlibat di dalam kegiatan Anjak-piutang adalah :
1. Factor adalah kreditur baru yang mengambil-alih atau membeli tagihan piutang
dagang;
2. Klien adalah perusahaan selaku kreditur awal yang menjual dan menyerahkan
piutang dagang yang berupa tagihan jangka pendek yang berasal dari transaksi
dagang miliknya melalui suatu perjanjian (Factoring Agreement);
3. Konsumen adalah pihak tertarik yang wajib membayar hutang dagangnya
yang telah dialihkan oleh klien kepada pihak factor pada saat jatuh temponya.
Penerapan hukum Anjak-piutang menurut pendapat majelis hakim pengadilan
niaga di Indonesia, seperti dalam penelitian terhadap 7 putusan majelis hakim
dalam perkara permohonan pailit menunjukkan perbedaan di dalam
menafsirkan dan memahami pengertian dan konsep hukum Anjakpiutang, baik
sebagai utang atau sebagai pembelian piutang. Yang mencolok di antaranya
ada 1(satu) putusan mengenai pembelian piutang dalam perkara PT. Batara
Intemasional Finansindo (PT. BIF) mengajukan permohonan pailit terhadap
PT. Gabus Putih Indah (PT. GPI) atas dasar Perjanjian Factoring.
Putusan ini memuat pertimbangan ratio hukum Anjak piutang mendasarkan
pada Keputusan Menteri Keuangan, yaitu dibuktikan adanya keterlibatan tiga
pihak, yaitu factor sebagai pembeli piutang(PT. BIF), klien sebagai penjual
piutang(PT. GPI), dan yang terakhir adalah konsumen atau pelanggan yang
wajib membayar piutang tersebut. Hubungan hukum dalam Factoring ini
menurut pendapat majelis hakim, bahwa walaupun tennuat klausula recourse
yang tetap membebankan risiko kegagalan membayar kepada klien, namun
disisi lain juga membatasi kewenangan hukum klien untuk menagih kepada
konsumen. Dalam hal ini kewenangan menagih tetap pada factor, kecuali
secara tertulis factor meminta klien untuk melakukan penagihan. Kegagalan
PT. BIF melakukan pemindahan hak tagih yang pantas dari PT.BIF sebagai
factor kepada PT. GPI sebagai klien bukanlah obyek utang dad PT. BIF kepada
PT.GPI.
Pertimbangan Majelis Kasasi dalam perkara PT. BIF dengan PT. GPI yang
termuat dalam memori kasasi, diantaranya menyebutkan, bahwa Judex Factie
tidak salah menerapkan hukum dan dasar pengakuan utang adalah perjanjian
Anjak-piutang yang menurut pendapat hukum dad Majelis Kasasi perjanjian
tersebut tidak ada di karenakan PT. BIF dan PT. GPI telah sepakat
mengakhiri perjanjian Anjak-piutang, sedangkan status hubungan diantara
debitur dan kreditur tidaklah dapat dibuktikan secara sederhana, sehingga
penyelesaian sengketa ini haruslah diajukan ke Pengadilan Negeri.
Ruang lingkup Anjak-piutang diperkenalkan lewat lembaga pembiayaan. Oleh
karenanya nuansa dan karakter pembiayaan sangat mewarnai hubungan yang
tercipta di dalam lembaga Anjak-piutang di Indonesia. Karakter pembiayaan
erat kaitannya dengan hubungan utang-piutang. Konsep utang piutang terdapat
dua sisi produk perbuatan, yaitu utang dan piutang. Utang adalah produk
perbuatan dari sisi pihak yang memperoleh pinjaman sejumlah uang,
sedangkan piutang adalah produk perbuatan dilihat dari sisi pihak yang
memberi pinjaman sejumlah uang. Sifat pembiayaan ini menyebabkan adanya
unsur biaya bunga sebagai pengganti diskonto dan adanya limit(plafond) kredit
yang diperjanjikan dan adanya sifat retensi. Di dalam praktek perbankan, pihak
pemberi pinjaman dan pihak penerima pinjaman atau peminjam yang dikemas
dalam suatu perjanjian kredit yang merupakan perjanjian pokok dan biasanya
diikuti dengan perjanjian jaminan. Perjanjian pokok yang dimaksud lebih
dikenal sebagai Perjanjian Kredit untuk meMbiayai Piutang Dagang (Account
Receivable(AR) Financing Program). Perkembangan selanjutnya Anjak
piutang, berupa model percampuran, dimana bentuk pembiayaan bersama-sama
dengan pembelian dan pengalihan berada dalam satu pengertian Anjak-piutang.
Kelembagaan pembiayaan, dan pembelian tersebut dalam khasanah hukum
Indonesia masing-masing mempunyai dasar-hukum. Untuk itu diperlukan
interpretasi sistematis terhadap suatu undang-undang sebagai bagian dan
keseluruhan sistem perundang-undangan dengan jalan menghubungkan dengan
undang undang lain.
C. Modal Ventura
1. Pengertian Modal Ventura
Pengertian modal ventura sesuai dengan Keputusan Presiden Nomor 61
Tahun 1988 adalah “Badan usaha yang melakukan suatu pembiayaan dalam bentuk
penyertaan modal ke dalam suatu perusahaan yang menerima bnatuan
pembiayaan.” Modal ventura adalah perusahaan yang memberikan pembiayaan
dengan cara melakukan penyertaan langsung ke dalam perusahaan yang dibiayai,
dan keuntungan dari modal ventura berupa deviden atau capital gain.
2. Tujuan Pendirian Modal Ventura
Tujuan dari perusahaan ini tidaklah hanya demi keuntungan semata namun juga
membantu pemerintah dan piahk yng ingin membangun atau mendirikan sebuah
usaha, berikut adalah beberapa tujuan pendirian modal ventura :
a. Untuk mengembangkan suatu proyek tertentu, misalnya proyek penelitian,
dimana proyek ini bukan hanya untuk meraih keuntungan semata tetapi juga
untuk pengembangan pengetahuan.
b. Pengembangan suatu teknologi baru atau penegmbangan produk baru.
c. Pengambilalihan kepemilikan suatu perusahaan
d. Kemitraan dalam rangka pengentasan kemiskinan, dalam hal ini modal ventura
membantu pengusaha lemah yang kekurangan modal akan tetapi tidak
memiliki jaminan materi sehingga sulit memperoleh pinjaman.
e. Membantu perusahaan yang sedang kekurangan likuiditas.
3. Jenis Pembiayaan Modal Ventura
Jenis-jenis pembiayaan perusahaan modal ventura adalah sebagai berikut :
a. Equity Financing
Merupakan jenis pembiayaan langsung. Dalam hal ini perusahaan modal
ventura melakukan penyertaan langsung pada perusahaan pasangan usaha
(PPU) dengan cara mengambil bagian dari sejumlah saham milik PPU.
b. Semi Equity Financial
Merupakan pembiayaan dengan membeli obligasi konversi yang diterbitkan
oleh perusahaan PPU.
c. Mendirikan perusahaan baru
Dalam hal ini perusahaan modal ventura bersama-sama dengan PPU
mendirikan usaha yang baru sama sekali.
d. Bagi hasil
Merupakan pembiayaan kepada usaha kecil yang belum memiliki bentuk badan
hukum perseroan terbatas, namun dapat pula perusahaan yang berbentuk PT,
apabila kedua belak pihak menyetujuinya.
4. Perkembangan Modal Ventura
Modal ventura adalah perusahaan yang berani melakukan investasi dimana
Di antara sekian banyak perusahaan modal ventura yang tumbuh dan tenggelam,
keberadaan perusahaan bentukan pemerintah yakni PT Bahana Arta Ventura
(BAV) plus 26 perusahaan modal ventura daerah (PMVD) cukup berperan
membantu perkembangan UKM.
Sejarah perkembangan perusahaan modal ventura di Indonesia cukup
panjang kendati relatif masih muda dibandingkan sejarah kehadiran lembaga
serupa di luar negeri. Perusahaan modal ventura diawali dengan pembentukan
BUMN PT Bahana Pembinaan Usaha Indonesia (BPUI). Lalu, pada tahun 1973,
BPUI mendirikan PT Bahana Artha Ventura (BAV) yang sahamnya 100% dimiliki
oleh BPUI. Namun menyangkut kinerja agaknya masih jauh dari yang diharapkan,
perusahaan modal ventura kurang berkembang. Pembiayaan PMVD berdasarkan
sektor-sektor persentase
Industri 15%
Perdagangan 23%
Pertanian 19%
Home industri 1%
Jasa 4 2%
Sumber: BAV, 2003
Karena itu pada 1988 pemerintah meluncurkan ketentuan baru-bagian dari
reformasi finansial-yang memungkinkan lahirnya perusahaan sejenis milik swasta,
baik swasta nasional maupun usaha patungan dengan asing di Jakarta maupun di
daerah.
Akhirnya beberapa perusahaan modal ventura saat itu mulai hadir a.l. PT BNJI
(perusahaan patungan Bank BNI dengan Nomura Jaffco) serta perusahaan
patungan PT Danareksa dengan perusahaan Jepang dan Brunei Darussalam. Selain
itu, berbagai grup perusahaan besar juga ikut mendirikan divisi perusahaan modal
ventura.
Namun tidak sedikit perusahaan swasta gulung tikar akibat usahanya yang
tidak lagi menguntungkan akibat kesalahan investasi, kesulitan permodalan, hingga
bangkrutnya perusahaan pasangan usaha (PPU) akibat krisis. Menurut sumber
Bisnis di Departemen Keuangan, krisis ekonomi sejak 1997 memberi kontribusi
gulung tikarnya usaha sebagian perusahaan modal ventura swasta. Selain ada yang
diam-diam tidak aktif, beberapa perusahaan minta kepada Depkeu untuk mencabut
izin usahanya. "Sistem penyampaian pelaporan lembaga keuangan ini memang
tidak seketat sistem perbankan," ujar sumber tadi. Paling tidak, ada dua faktor yang
menyebabkan perusahaan-perusahaan 'pelat merah' itu sampai kini mampu
bertahan. Kemampuan modal dan pendanaan yang cukup memadai serta bidikan
pembiayaan yang fokus pada usaha kecil. Dilihat dari besar nominal, modal
masing-masing PMVD separuhnya di atas angka Rp3 miliar, cukup besar bagi
sebuah perusahaan pembiayaan di daerah yang membidik usaha kecil, bahkan
mikro. Dari keseluruhan modal setiap PMVD, kontribusi BAV cukup bervariasi.
PT Sarana Sumatra Selatan Ventura misalnya, kontribusi BAV terhadap
keseluruhan modal Rp7,08 miliar atau 21%, sementara pada PT Sarana Nusa
Tenggara Timur Ventura mencapai 87% dari keseluruhan modal Rp3 triliun.
Dengan kebutuhan pembiayaan rata-rata hanya Rp100 juta, setiap PMVD paling
tidak sudah mampu membiayai sekurangnya 30 PPU. Belum lagi suntikan dana
dari JEXIM (Japan Export - Import Bank) yang cukup signifikan sejak Maret 1997.
Berdasarkan catatan Bisnis, pinjaman lunak yang dicanangkan Presiden Soeharto
pada saat itu berjumlah Y14 miliar atau senilai Rp21 miliar dengan kurs pada 1997
dengan sasaran utama kalangan UKM yang memiliki prospek ekspor dan padat
karya.
Sekadar diketahui, jangka pinjaman tersebut berakhir hingga 2000. Namun
karena alasan kebutuhan tenggang waktu pelunasan itu diperpanjang hingga
Desember tahun ini. JEXIM mengenakan bunga 6,5%, sementara BAV
menyalurkannya kepada PMVD dengan bunga 8,5%. Ketua Asosiasi Perusahaan
Modal Ventura Daerah (PMVD) Yopie S. Batubara mengatakan nilai pinjaman
JEXIM saat ini tercatat sekitar Rp1,2 triliun dan sudah mulai diangsur melalui
BAV. Kalangan PMVD agaknya sangat tertolong dengan suntikan dana tersebut.
Hal ini ditunjukkan dengan peningkatan jumlah PPU maupun nilai investasi yang
meningkat tajam sejak 1997. Bila pada 1996 kemampuan BAV dan PMVD baru
mampu membiayai 558 unit PPU dengan total investasi Rp3,7 miliar maka akhir
tahun berikutnya sudah tercatat 1.481 unit PPU dengan nilai investasi Rp227,34
miliar.
Dari sisi jumlah maupun nilai investasi, jumlah tersebut terus bertambah banyak
sampai akhir 2002 dengan jumlah PPU 7.382 unit dan investasi Rp1,43 triliun,
namun rata-rata penyertaan bervariasi Pada tahun pertama, rata-rata investasi
perusahaan modal ventura daerah tersebut mencapai Rp168 juta dan meningkat
187 juta pada 1995, setahun berikutnya rata-rata penyertaan menurun menjadi
Rp86 juta dan 1997 sekitar Rp89 juta. Semakin kecilnya rata-rata penyertaan pada
perusahaan mitra bisa menunjukkan bahwa PPU yang digandeng menjadi pasangan
usaha adalah perusahaan skala kecil atau bahkan mikro.
Hal ini juga bisa menunjukkan strategi perusahaan modal ventura untuk
melakukan diversifikasi risiko pembiayaan karena semakin banyak PPU dengan
nilai investasi yang semakin kecil terjadi penyebaran risiko. Faktor inilah agaknya
menjadi salah satu penentu kemampuan perusahaan modal ventura 'pelat merah'
mampu bertahan bahkan cenderung berkembang di tengah ambruknya sebagian
perusahaan yang tidak tahan krisis. Apalagi secara umum, perusahaan skala mikro,
kecil dan menengah (UMKM) kenyataannya mampu membuktikan diri sebagai
entitas bisnis yang tahan krisis.Pendanaan terancam
Di saat perusahaan modal ventura mampu menunjukkan kemampuannya menjadi
mitra bagi UMKM, mereka ternyata cukup khawatir akibat jangka waktu pinjaman
JEXIM segera berakhir. Apalagi sejauh ini belum ada sumber dana pengganti.
Tentu saja, seiring ditariknya dana tersebut kemampuan pendanaan
perusahaan modal ventura pemerintah semakin lemah. Bahkan, menurut Komisaris
BAV Hendi Kariawan, pada 2004 perusahaan-perusahaan modal ventura
diperkirakan tidak bisa membiayai PPU baru dan sekadar menjadi kolektor
penyertaan. Berbagai upaya telah ditempuh, termasuk desakan kepada Menkeu
untuk meminta JEXIM melakukan rescheduling pinjaman tersebut. Bukan karena
bermasalah, tapi lagi-lagi faktor kebutuhan pembiayaan. "Ini harus dilakukan bila
pemerintah masih menginginkan perusahaan pembiayaan yang dirintis sejak 1991
tersebut tetap bisa membiayai kalangan UKM," ujar Ketua APMVD Yopie S.
Batubara. Desakan agar pemerintah menjadwal ulang pinjaman tersebut, menurut
dia, semata untuk mempertahankan usaha PMVD yang sudah didukung sistem
yang mapan itu bisa tetap berjalan baik. Bila tidak, tambah Sekjen APMVDI
Wahyono, krisis pendanaan tersebut mengancam kelangsungan hidup PMVD
hanya sampai 2004. Bila sampai tahun itu tidak mendapatkan pinjaman lunak
maka diperkirakan mereka hanya melakukan fungsi collecting. investasi tersebut
mengandung resiko yang tinggi.
December 10, 2009
how to become rich
Lesson 1: Choose Your Grandparents Carefully
Sequoia National Park, California
"There are three ways to make money. You can inherit it. You can marry it. You can steal it."
-- conventional wisdom in Italy
William Henry Gates III made his best decision on October 28, 1955, the night he was born. He chose J.W. Maxwell as his great-grandfather. Maxwell founded Seattle's National City Bank in 1906. His son, James Willard Maxwell was also a banker and established a million-dollar trust fund for William (Bill) Henry Gates III.
In some of the later lessons, you will be encouraged to take entrepreneurial risks. You may find it comforting to remember that at any time you can fall back on a trust fund worth many millions of 1998 dollars.
Lesson 2: Choose Your Parents Carefully
Redwood. King's Canyon National Park, California.
"A young man asked an old rich man how he made his money. The old guy fingered his worsted wool vest and said, "Well, son, it was 1932. The depth of the Great Depression. I was down to my last nickel. I invested that nickel in an apple. I spent the entire day polishing the apple and, at the end of the day, I sold the apple for ten cents. The next morning, I invested those ten cents in two apples. I spent the entire day polishing them and sold them at 5 pm for 20 cents. I continued this system for a month, by the end of which I'd accumulated a fortune of $1.37. Then my wife's father died and left us two million dollars."
William Henry Gates, Jr. and Mary Maxwell were among Seattle's social and financial elite. Bill Gates, Jr. was a prominent corporate lawyer while Mary Maxwell was a board member of First Interstate Bank and Pacific Northwest Bell. She was also on the national board of United Way, along with John Opel, the chief executive officer of IBM who approved the inclusion of MS/DOS with the original IBM PC.
Remind your parents not to send you to public school. Bill Gates went to Lakeside, Seattle's most exclusive prep school where tuition in 1967 was $5,000 (Harvard tuition that year was $1760). Typical classmates included the McCaw brothers, who sold the cellular phone licenses they obtained from the U.S. Government to AT&T for $11.5 billion in 1994. When the kids there wanted to use a computer, they got their moms to hold a rummage sale and raise $3,000 to buy time on a DEC PDP-10, the same machine used by computer science researchers at Stanford and MIT.
Note: Recall that in the 1980s we venerated Donald Trump and studied his "art of the deal". If Donald Trump had taken the millions he inherited from his father and put it all into mutual funds, you'd never have had to suffer through one of his books. But he'd be just about as rich today.
Lesson 3: Acquire Research Results by Hiring and Buying
Cows and Church. Tingstade (northern Gotland). Conventional (loser) economic wisdom holds that monopolies should spend heavily on research because they are in a position to capture the fruits of the research. But if you want to become as rich as Bill Gates, you have to remember that it is cheaper to wait for a small company to come up with something good and then buy them. In the old days, antitrust laws kept monopolies from buying potential competitors. But not anymore. When Microsoft products were threatened by network computers and Web-based applications, they simply bought WebTV and Hotmail.
Another good strategy is to hire the right people. Some of the guys who wrote Microsoft Windows had previous worked on window systems at Xerox PARC. So Xerox paid for the research; Microsoft paid only for development.
In the long run a tech company without research probably can't sustain its market leadership. So you'll eventually need to build something like research.microsoft.com (check out netscan.research.microsoft.com to see some interesting online community research).
Lesson 4: Let Other People Do the Programming
South Island, New Zealand If you're a great engineer, it can be frustrating to rely on other people to translate your ideas into reality. However, keep in mind that the entire Indian subcontinent is learning Java. And that if Microsoft, Oracle, SAP, and Sun products simply worked and worked simply, half of the world's current IT workers would be out of a job. You're not going to get rich being "just a coder." Especially working in painful low-level imperative languages such as C or Java. It might be worth writing your own SQL queries and HTML pages since these tend to be compact and easier than precisely specifying the work for another person to do. But basically you need to get good at thinking about whether a piece of software is doing something useful for the adopting organization and end-user. Bill Gates does code reviews, not coding.
[If you aren't sure that you need to be filthy rich and like to do some coding, see this old misguided article for more about what it might mean to be a great software engineer.]
Lesson 5: Train your new CEO
Garden. Getty Center. Los Angeles, California. If you're an intelligent curious person it can be painful to run a company of more than 50 people. You spend more time than you'd like repeating yourself, sitting in boring meetings, skimming over long legal documents in which you know there are errors but aren't sure how serious, etc. The temptation is to hand over the reins to the first "professional manager" who comes along. And that's what the standard venture capitalist formula dictates. But Bill Gates didn't do that. He hired Steve Ballmer in 1980 and gave him the CEO job 20 years later. Making money in the software products business requires domain expertise and a commitment to solving problems within that domain. Great tech companies are seldom built by non-technical management or professional managers who aren't committed to anything more than their paycheck. Adobe is another good example. The two founders were PhD computer science researchers from Xerox PARC who were passionate about solving problems in the publishing and graphics world. They are still guiding operations at Adobe.
Note that this is a principle that Old Economy companies have long understood. Jack Welch joined GE in 1961 and became CEO 20 years later. Sometimes an Old Economy company may pull in a few outsiders to senior positions but, because they have such stable bureaucracies underneath, they can more easily afford this than startups.
See Charles Ferguson's High Stakes, No Prisoners (1999) for a longer explanation of how hired-gun CEOs manage to kill software products companies.
Lesson 6: Focus on Profit
"At Hewlett-Packard, people, materials, facilities, money, and time are the resources available to us for conducting our business. By applying our skills, we turn these resources into useful products and services. If we do a good job, customers pay us more for our products than the sum of our costs in producing and distributing them. This difference, our profit, represents the value we add to the resources we utilize."
-- David Packard in The HP Way
Remembering to make a profit was tough in the dotcom 1990s but it turns out that Hewlett and Packard's ideas were right. Most of the management teams at dotcom businesses, by being disorganized, unintelligent, and ignorant, were subtracting value from the resources that they controlled.
How does one make money in the software products business? Simple. The necessary step is to build something that becomes part of information systems that generate value for organizations and end-users. Once you've created value you can extract a portion in lots of ways. You can be closed-source and charge a license fee. You can be open-source and charge for training, service, support, and extensions. But if you aren't getting your software product into important information systems, you don't have a prayer, no matter how slick your marketing materials.
If you're creative and diligent the software products business is extremely lucrative. If you're losing money, ask yourself what you're doing wrong. The answer is probably "plenty".
Lesson 7: Let the Venture Capitalists Schmooze Wall Street ...
... but don't let them run your company. A profitable Microsoft Corporation brought in venture capitalists (VCs) at the last minute. They didn't need or spend the money but used the VCs to boost their valuation at the initial public offering, thus getting more money for the shares that they sold. Venture capitalists are dangerous because even the most successful might not know anything about business. Remember that there are tens of thousands of venture capitalists in this world. Assuming that they make random choices of companies in which to invest there will be a Gaussian curve of performance. Some firms will do consistently better than average even if everyone is guessing. Imagine that thousands of monkeys are flipping coins; some of the monkeys will get 10 heads in a row. These are the monkeys that will be celebrated for their insight. These are the monkeys whose track records will lead to uncritical cheerleading by underwriters and public investors. In bull markets such as we had in the 1990s nearly all the monkeys will be fairly consistent winners. But remember your next-door neighbor who made money in the stock market in 1985. He convinced himself that he had special insight and ability when actually he was only holding high-beta stocks in a rising market. So his foray into the commodities futures market wiped him out in the crash of '87.
Bottom line: successful software products companies spend most of their time listening to their customers and users rather than to venture capitalists.
[See "Money, Money, Money (and Investing)" for how the Gaussian curve works for mutual fund managers and also read Princeton Professor Burton Malkiel's A Random Walk Down Wall Street.]
Lesson 8: Self-Esteem is Not Job 1
Gentility, politesse, decorum, and high self-esteem are wonderful. You can achieve all of these things within your organization. And then watch it be destroyed by competitors where frank and, if necessary, harsh criticism is encouraged. Technical people, even (and especially) those fresh out of school are always convinced that whatever they've developed, no matter how hare-brained, is perfect. It takes a technical person with good judgement to notice the flaws and it may require repeated and increasingly harsh delivery for the, uh, pinhead to realize his or her mistake.
Example: I once encountered a group of 6 people who called themselves "engineers." To solve what they thought was a new problem, they were going to build their own little database management system with their own query language that was SQL-like without being SQL. I pointed them to some published research by a gang of PhD computer scientists from IBM Almaden, the same lab that developed the RDBMS and SQL to begin with in the 1970s. The research had been done over a five-year period and yet they hadn't become aware of it during several months of planning. I pointed them to the SQL-99 standard wherein this IBM research approach of augmenting a standard RDBMS to solve the problem they were attacking was becoming an ISO standard. They ignored it and spent another few months trying to build their enormously complex architecture. Exasperated, I got a kid fresh out of school to code up some Java stored procedures to run inside Oracle. After a week he had his system working and ready for open-source release, something that the team of 6 "engineers" hadn't been able to accomplish in 6 months of full-time work. Yet they never accepted that they were going about things in the wrong way though eventually they did give up on the project.
An 1994 New Yorker article about Microsoft relates "If he strongly disagrees with what you're saying, [Gates] is in the habit of blurting out, 'That's the stupidest fucking thing I've ever heard!'". Jennifer New, a former Microsoft contractor, writes "Meetings with Bill or one of his top people are often replete with a barrage of expletives and other disdainful comments." (Salon, September 1997) My friends who work or have worked at Microsoft tell similar tales. But how different is this from other elite organizations?
When I arrived at MIT as a first-year graduate student in electrical engineering and computer science, I asked a professor for help with a research problem. He said "The reason that you've having trouble is that you don't know anything and you're not working very hard." A friend of mine was a surgery resident at Johns Hopkins. He complained to one of his teachers that he was having trouble concentrating because he'd been up all night for several nights in a row. The professor replied "Oh... does your pussy hurt?" According to Business Week, Jack Welch "encouraged near-brutal candor in the meetings he held [at GE]".
The bottom line: self-esteem is great but beware of creating a cozy home for unproductive people with bad ideas.
Sequoia National Park, California
"There are three ways to make money. You can inherit it. You can marry it. You can steal it."
-- conventional wisdom in Italy
William Henry Gates III made his best decision on October 28, 1955, the night he was born. He chose J.W. Maxwell as his great-grandfather. Maxwell founded Seattle's National City Bank in 1906. His son, James Willard Maxwell was also a banker and established a million-dollar trust fund for William (Bill) Henry Gates III.
In some of the later lessons, you will be encouraged to take entrepreneurial risks. You may find it comforting to remember that at any time you can fall back on a trust fund worth many millions of 1998 dollars.
Lesson 2: Choose Your Parents Carefully
Redwood. King's Canyon National Park, California.
"A young man asked an old rich man how he made his money. The old guy fingered his worsted wool vest and said, "Well, son, it was 1932. The depth of the Great Depression. I was down to my last nickel. I invested that nickel in an apple. I spent the entire day polishing the apple and, at the end of the day, I sold the apple for ten cents. The next morning, I invested those ten cents in two apples. I spent the entire day polishing them and sold them at 5 pm for 20 cents. I continued this system for a month, by the end of which I'd accumulated a fortune of $1.37. Then my wife's father died and left us two million dollars."
William Henry Gates, Jr. and Mary Maxwell were among Seattle's social and financial elite. Bill Gates, Jr. was a prominent corporate lawyer while Mary Maxwell was a board member of First Interstate Bank and Pacific Northwest Bell. She was also on the national board of United Way, along with John Opel, the chief executive officer of IBM who approved the inclusion of MS/DOS with the original IBM PC.
Remind your parents not to send you to public school. Bill Gates went to Lakeside, Seattle's most exclusive prep school where tuition in 1967 was $5,000 (Harvard tuition that year was $1760). Typical classmates included the McCaw brothers, who sold the cellular phone licenses they obtained from the U.S. Government to AT&T for $11.5 billion in 1994. When the kids there wanted to use a computer, they got their moms to hold a rummage sale and raise $3,000 to buy time on a DEC PDP-10, the same machine used by computer science researchers at Stanford and MIT.
Note: Recall that in the 1980s we venerated Donald Trump and studied his "art of the deal". If Donald Trump had taken the millions he inherited from his father and put it all into mutual funds, you'd never have had to suffer through one of his books. But he'd be just about as rich today.
Lesson 3: Acquire Research Results by Hiring and Buying
Cows and Church. Tingstade (northern Gotland). Conventional (loser) economic wisdom holds that monopolies should spend heavily on research because they are in a position to capture the fruits of the research. But if you want to become as rich as Bill Gates, you have to remember that it is cheaper to wait for a small company to come up with something good and then buy them. In the old days, antitrust laws kept monopolies from buying potential competitors. But not anymore. When Microsoft products were threatened by network computers and Web-based applications, they simply bought WebTV and Hotmail.
Another good strategy is to hire the right people. Some of the guys who wrote Microsoft Windows had previous worked on window systems at Xerox PARC. So Xerox paid for the research; Microsoft paid only for development.
In the long run a tech company without research probably can't sustain its market leadership. So you'll eventually need to build something like research.microsoft.com (check out netscan.research.microsoft.com to see some interesting online community research).
Lesson 4: Let Other People Do the Programming
South Island, New Zealand If you're a great engineer, it can be frustrating to rely on other people to translate your ideas into reality. However, keep in mind that the entire Indian subcontinent is learning Java. And that if Microsoft, Oracle, SAP, and Sun products simply worked and worked simply, half of the world's current IT workers would be out of a job. You're not going to get rich being "just a coder." Especially working in painful low-level imperative languages such as C or Java. It might be worth writing your own SQL queries and HTML pages since these tend to be compact and easier than precisely specifying the work for another person to do. But basically you need to get good at thinking about whether a piece of software is doing something useful for the adopting organization and end-user. Bill Gates does code reviews, not coding.
[If you aren't sure that you need to be filthy rich and like to do some coding, see this old misguided article for more about what it might mean to be a great software engineer.]
Lesson 5: Train your new CEO
Garden. Getty Center. Los Angeles, California. If you're an intelligent curious person it can be painful to run a company of more than 50 people. You spend more time than you'd like repeating yourself, sitting in boring meetings, skimming over long legal documents in which you know there are errors but aren't sure how serious, etc. The temptation is to hand over the reins to the first "professional manager" who comes along. And that's what the standard venture capitalist formula dictates. But Bill Gates didn't do that. He hired Steve Ballmer in 1980 and gave him the CEO job 20 years later. Making money in the software products business requires domain expertise and a commitment to solving problems within that domain. Great tech companies are seldom built by non-technical management or professional managers who aren't committed to anything more than their paycheck. Adobe is another good example. The two founders were PhD computer science researchers from Xerox PARC who were passionate about solving problems in the publishing and graphics world. They are still guiding operations at Adobe.
Note that this is a principle that Old Economy companies have long understood. Jack Welch joined GE in 1961 and became CEO 20 years later. Sometimes an Old Economy company may pull in a few outsiders to senior positions but, because they have such stable bureaucracies underneath, they can more easily afford this than startups.
See Charles Ferguson's High Stakes, No Prisoners (1999) for a longer explanation of how hired-gun CEOs manage to kill software products companies.
Lesson 6: Focus on Profit
"At Hewlett-Packard, people, materials, facilities, money, and time are the resources available to us for conducting our business. By applying our skills, we turn these resources into useful products and services. If we do a good job, customers pay us more for our products than the sum of our costs in producing and distributing them. This difference, our profit, represents the value we add to the resources we utilize."
-- David Packard in The HP Way
Remembering to make a profit was tough in the dotcom 1990s but it turns out that Hewlett and Packard's ideas were right. Most of the management teams at dotcom businesses, by being disorganized, unintelligent, and ignorant, were subtracting value from the resources that they controlled.
How does one make money in the software products business? Simple. The necessary step is to build something that becomes part of information systems that generate value for organizations and end-users. Once you've created value you can extract a portion in lots of ways. You can be closed-source and charge a license fee. You can be open-source and charge for training, service, support, and extensions. But if you aren't getting your software product into important information systems, you don't have a prayer, no matter how slick your marketing materials.
If you're creative and diligent the software products business is extremely lucrative. If you're losing money, ask yourself what you're doing wrong. The answer is probably "plenty".
Lesson 7: Let the Venture Capitalists Schmooze Wall Street ...
... but don't let them run your company. A profitable Microsoft Corporation brought in venture capitalists (VCs) at the last minute. They didn't need or spend the money but used the VCs to boost their valuation at the initial public offering, thus getting more money for the shares that they sold. Venture capitalists are dangerous because even the most successful might not know anything about business. Remember that there are tens of thousands of venture capitalists in this world. Assuming that they make random choices of companies in which to invest there will be a Gaussian curve of performance. Some firms will do consistently better than average even if everyone is guessing. Imagine that thousands of monkeys are flipping coins; some of the monkeys will get 10 heads in a row. These are the monkeys that will be celebrated for their insight. These are the monkeys whose track records will lead to uncritical cheerleading by underwriters and public investors. In bull markets such as we had in the 1990s nearly all the monkeys will be fairly consistent winners. But remember your next-door neighbor who made money in the stock market in 1985. He convinced himself that he had special insight and ability when actually he was only holding high-beta stocks in a rising market. So his foray into the commodities futures market wiped him out in the crash of '87.
Bottom line: successful software products companies spend most of their time listening to their customers and users rather than to venture capitalists.
[See "Money, Money, Money (and Investing)" for how the Gaussian curve works for mutual fund managers and also read Princeton Professor Burton Malkiel's A Random Walk Down Wall Street.]
Lesson 8: Self-Esteem is Not Job 1
Gentility, politesse, decorum, and high self-esteem are wonderful. You can achieve all of these things within your organization. And then watch it be destroyed by competitors where frank and, if necessary, harsh criticism is encouraged. Technical people, even (and especially) those fresh out of school are always convinced that whatever they've developed, no matter how hare-brained, is perfect. It takes a technical person with good judgement to notice the flaws and it may require repeated and increasingly harsh delivery for the, uh, pinhead to realize his or her mistake.
Example: I once encountered a group of 6 people who called themselves "engineers." To solve what they thought was a new problem, they were going to build their own little database management system with their own query language that was SQL-like without being SQL. I pointed them to some published research by a gang of PhD computer scientists from IBM Almaden, the same lab that developed the RDBMS and SQL to begin with in the 1970s. The research had been done over a five-year period and yet they hadn't become aware of it during several months of planning. I pointed them to the SQL-99 standard wherein this IBM research approach of augmenting a standard RDBMS to solve the problem they were attacking was becoming an ISO standard. They ignored it and spent another few months trying to build their enormously complex architecture. Exasperated, I got a kid fresh out of school to code up some Java stored procedures to run inside Oracle. After a week he had his system working and ready for open-source release, something that the team of 6 "engineers" hadn't been able to accomplish in 6 months of full-time work. Yet they never accepted that they were going about things in the wrong way though eventually they did give up on the project.
An 1994 New Yorker article about Microsoft relates "If he strongly disagrees with what you're saying, [Gates] is in the habit of blurting out, 'That's the stupidest fucking thing I've ever heard!'". Jennifer New, a former Microsoft contractor, writes "Meetings with Bill or one of his top people are often replete with a barrage of expletives and other disdainful comments." (Salon, September 1997) My friends who work or have worked at Microsoft tell similar tales. But how different is this from other elite organizations?
When I arrived at MIT as a first-year graduate student in electrical engineering and computer science, I asked a professor for help with a research problem. He said "The reason that you've having trouble is that you don't know anything and you're not working very hard." A friend of mine was a surgery resident at Johns Hopkins. He complained to one of his teachers that he was having trouble concentrating because he'd been up all night for several nights in a row. The professor replied "Oh... does your pussy hurt?" According to Business Week, Jack Welch "encouraged near-brutal candor in the meetings he held [at GE]".
The bottom line: self-esteem is great but beware of creating a cozy home for unproductive people with bad ideas.
December 07, 2009
What's AdSense?
What's AdSense?
Google AdSense is the program that can give you advertising revenue from each page on your website—with a minimal investment in time and no additional resources.
AdSense delivers relevant text and image ads that are precisely targeted to your site and your site content. And when you add a Google search box to your site, AdSense delivers relevant text ads that are targeted to the Google search results pages generated by your visitors’ search request.
Google AdSense is the program that can give you advertising revenue from each page on your website—with a minimal investment in time and no additional resources.
AdSense delivers relevant text and image ads that are precisely targeted to your site and your site content. And when you add a Google search box to your site, AdSense delivers relevant text ads that are targeted to the Google search results pages generated by your visitors’ search request.
How do I put AdSense on my blog (using a classic template)?
How do I put AdSense on my blog (using a classic template)?
The Quick Answer
* Go to the Template | AdSense tab and sign up for AdSense, if necessary.
* Select the size and color of your ads.
* You'll see a preview of your blog as you make changes.
Note: This article assumes you are using a classic template. On a Layouts-enabled blog, just add a new page element and select the AdSense option.
Adding AdSense to your blog is easy. Go to the Template tab in Blogger and you'll see an "AdSense ads" tab below it:
If you don't have an AdSense account already, you can sign up for it right here within Blogger. Just enter a valid email address, choose a password, fill in some contact information (so you can get paid!) and then Blogger will register your account for you right away. If you do have an account already, just use the "sign in" link instead.
Once you've completed the sign-up form, or logged in to an existing account, you'll see a special preview version of your template, showing your blog as it will look with your new ads:
Using the menus above the preview, you can easily change the size, shape, and color of your ads, without ever needing to edit the code directly. The color menu has some preset color schemes, but also some flexible options that try to match, contrast, or blend with whatever template you happen to be using. Try them all out and see which setting works best.
Once you've decided how you'd like it to look, just save the changes and republish your blog. Then go check your email.
While you were deciding on layouts and colors, you probably received a confirmation email from AdSense. Find that email and click on the link it gives you to confirm your email address. Be sure to read the rest of the confirmation email as well, since it will contain other information on finishing the registration and approval process. Until your email address is confirmed and your AdSense application is approved, your ads will only show public service announcements (PSAs) rather than targeted ads. Since you don't get revenue from PSAs, you'll want to be sure to do this soon, so the AdSense bot can crawl your site and determine appropriate ads to show.
And now you're done! Congratulations -- you've got AdSense!
Notes:
* There may be a bit of a delay before the AdSense bot gets to your site and you start getting targeted ads, though that should happen within 48 hours. Just be patient and it will get there in time.
* This feature does not currently provide a way of moving the ads, though the default location used is one that tends to provide the best results. If you would like to move it elsewhere, such as to your sidebar, you will need to edit your template code directly. See How to put AdSense in your blog's sidebar for more details.
* You can see how well your ads are doing by checking the 'Reports' tab on the AdSense website to look at your Ad performance. Keep in mind that reports appear an hour or so after a change has been made (and may sometimes be delayed up to 24 hours).
* To change your payment information, or other account details after you've signed up you'll need to go to the main AdSense site and log in to your account there.
The Quick Answer
* Go to the Template | AdSense tab and sign up for AdSense, if necessary.
* Select the size and color of your ads.
* You'll see a preview of your blog as you make changes.
Note: This article assumes you are using a classic template. On a Layouts-enabled blog, just add a new page element and select the AdSense option.
Adding AdSense to your blog is easy. Go to the Template tab in Blogger and you'll see an "AdSense ads" tab below it:
If you don't have an AdSense account already, you can sign up for it right here within Blogger. Just enter a valid email address, choose a password, fill in some contact information (so you can get paid!) and then Blogger will register your account for you right away. If you do have an account already, just use the "sign in" link instead.
Once you've completed the sign-up form, or logged in to an existing account, you'll see a special preview version of your template, showing your blog as it will look with your new ads:
Using the menus above the preview, you can easily change the size, shape, and color of your ads, without ever needing to edit the code directly. The color menu has some preset color schemes, but also some flexible options that try to match, contrast, or blend with whatever template you happen to be using. Try them all out and see which setting works best.
Once you've decided how you'd like it to look, just save the changes and republish your blog. Then go check your email.
While you were deciding on layouts and colors, you probably received a confirmation email from AdSense. Find that email and click on the link it gives you to confirm your email address. Be sure to read the rest of the confirmation email as well, since it will contain other information on finishing the registration and approval process. Until your email address is confirmed and your AdSense application is approved, your ads will only show public service announcements (PSAs) rather than targeted ads. Since you don't get revenue from PSAs, you'll want to be sure to do this soon, so the AdSense bot can crawl your site and determine appropriate ads to show.
And now you're done! Congratulations -- you've got AdSense!
Notes:
* There may be a bit of a delay before the AdSense bot gets to your site and you start getting targeted ads, though that should happen within 48 hours. Just be patient and it will get there in time.
* This feature does not currently provide a way of moving the ads, though the default location used is one that tends to provide the best results. If you would like to move it elsewhere, such as to your sidebar, you will need to edit your template code directly. See How to put AdSense in your blog's sidebar for more details.
* You can see how well your ads are doing by checking the 'Reports' tab on the AdSense website to look at your Ad performance. Keep in mind that reports appear an hour or so after a change has been made (and may sometimes be delayed up to 24 hours).
* To change your payment information, or other account details after you've signed up you'll need to go to the main AdSense site and log in to your account there.
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