創(chuàng)業(yè)合伙人之間容易起爭端的問題之一就是股權(quán)分配，任何一家公司，在初創(chuàng)立時就應(yīng)該系統(tǒng)考慮山東企業(yè)股權(quán)分配劃分問題，以免在可預(yù)見的未來，陷入始料不及的股權(quán)紛爭中。關(guān)于合伙人的股權(quán)分配，要注意以下幾個要點(diǎn)：

One of the issues that can easily lead to disputes among entrepreneurial partners is equity distribution. Any company should systematically consider the issue of equity distribution in Shandong enterprises at the beginning of its establishment to avoid falling into unexpected equity disputes in the foreseeable future. Regarding the equity distribution of partners, the following points should be noted:

1.明確核心股東

1. Clarify core shareholders

很多股權(quán)糾紛都源于大股東不清晰，如真功夫，蔡達(dá)標(biāo)和潘宇海從持股50%到47%，一直都處于對等局面，遇到意見分歧時無法集中決策，很容易產(chǎn)生糾紛。因此，合伙人的股權(quán)分配，從一開始就要明確公司的核心股東及其擁有的權(quán)利，包括在股東會擁有的表決權(quán)和對公司的控制力。這樣，即使在意見不統(tǒng)一時，也有可“一錘定音”之人。

Many equity disputes stem from the lack of clarity among major shareholders. For example, in the case of True Kung Fu, Cai Baiqi and Pan Yuhai, who hold 50% to 47% of the shares, have always been in an equal position and are unable to make centralized decisions when facing differences of opinion, making it easy for disputes to arise. Therefore, the equity distribution of partners should clarify the core shareholders of the company and their rights from the beginning, including the voting rights they have at the shareholders' meeting and their control over the company. In this way, even when there is disagreement, there are still people who can "hammer the nail on the head".

2.保證合伙人股東地位

2. Guarantee the shareholder status of partners

風(fēng)險共擔(dān)、利益共享是合伙的特征。因此，我們在設(shè)計(jì)股權(quán)架構(gòu)時，也要科學(xué)評估合伙人在企業(yè)的作用，保證合伙人的股東地位和持股比例，為未來和合伙人并肩作戰(zhàn)、共進(jìn)退打好基礎(chǔ)。

Risk sharing and benefit sharing are the characteristics of partnerships. Therefore, when designing the equity structure, we also need to scientifically evaluate the role of partners in the enterprise, ensure the shareholder status and shareholding ratio of partners, and lay a solid foundation for future cooperation and progress with partners.

3.跳出完全按照出資比例分配股權(quán)的原則

3. Jump out of the principle of fully allocating equity according to the proportion of investment

在現(xiàn)代企業(yè)出資中，除資金外，還有勞務(wù)、專利、知識產(chǎn)權(quán)等，所以，完全按照出資多少分配股權(quán)是不合理的。我們建議企業(yè)科學(xué)評估各類出資(資金創(chuàng)意、技術(shù)、運(yùn)營、個人)，跳出完全按照出資比例分配股權(quán)的原則，鼓勵有特殊價值的股東和員工，發(fā)揮人力資本的大優(yōu)勢，增強(qiáng)公司競爭力，吸引投資者。

In modern enterprise investment, in addition to capital, there are also labor services, patents, intellectual property rights, etc. Therefore, it is unreasonable to distribute equity solely based on the amount of investment. We suggest that enterprises scientifically evaluate various types of investment (capital creativity, technology, operations, personal brand), break away from the principle of fully allocating equity according to the proportion of investment, encourage shareholders and employees with special value, leverage the advantages of human capital, enhance the company's competitiveness, and attract investors.

4.股權(quán)結(jié)構(gòu)簡單明晰

4. Simple and clear equity structure

“簡單明晰”指股東人數(shù)不是太多，股權(quán)構(gòu)成不過于復(fù)雜，不存在大量的代持人、期權(quán)池、交叉持股、雙股權(quán)、委托投票權(quán)等。據(jù)研究分析，初創(chuàng)企業(yè)科學(xué)的配置是3個人，這樣既避免了兩個人在溝通方面沒有緩沖地帶，也不會出現(xiàn)多人決策但無人決定的局面，有助于維護(hù)公司和創(chuàng)業(yè)項(xiàng)目穩(wěn)定。

'Simple and clear' refers to the fact that the number of shareholders is not too large, the equity composition is not too complex, and there is no large number of proxy holders, option pools, cross shareholding, dual equity, entrusted voting rights, etc. According to research analysis, the scientific allocation for startups is three people, which not only avoids the lack of a buffer zone for communication between two people, but also avoids the situation of multiple people making decisions but no one making decisions, which helps to maintain the stability of the company and entrepreneurial projects.

5.簽署股權(quán)分配協(xié)議

5. Sign equity distribution agreement

很多公司在早期創(chuàng)業(yè)時都只顧埋頭苦干，僅在口頭上約定股權(quán)分配比例。一旦公司成長起來，合伙人要求按照股權(quán)比例分享利潤時，口頭約定就很難服眾，而如果在這個時候再去討論股權(quán)怎么分，很容易使分配方式不能滿足所有人的預(yù)期，導(dǎo)致團(tuán)隊(duì)出現(xiàn)問題，影響公司的發(fā)展前途。

Many companies in the early stages of entrepreneurship only focus on hard work and only verbally agree on the proportion of equity distribution. Once the company grows and partners demand to share profits in proportion to their equity, verbal agreements are difficult to convince the public. If we discuss how to divide the equity at this time, it is easy for the distribution method to not meet everyone's expectations, leading to team problems and affecting the company's development prospects.

所以，創(chuàng)業(yè)團(tuán)隊(duì)?wèi)?yīng)該在早期就簽署書面股權(quán)分配協(xié)議，約定各合伙人的股權(quán)比例。同時，還應(yīng)該約定股權(quán)兌現(xiàn)機(jī)制，公平保護(hù)合伙人之間的付出，激發(fā)各合伙人盡心盡力為企業(yè)效力，保證團(tuán)隊(duì)穩(wěn)定，維持項(xiàng)目的長期戰(zhàn)略。一般來說，按照合伙人在公司工作的天數(shù)，股權(quán)分4~5年逐步兌現(xiàn)。

So, entrepreneurial teams should sign a written equity distribution agreement early on, agreeing on the equity ratio of each partner. At the same time, a mechanism for equity redemption should also be agreed upon to fairly protect the efforts of partners, stimulate each partner to make every effort to serve the enterprise, ensure team stability, and maintain the long-term strategy of the project. Generally speaking, based on the number of days a partner works in the company, the equity is gradually realized over 4-5 years.

6.謹(jǐn)防外部資本對公司控股

6. Beware of external capital controlling the company

外部資本控股存在很多問題，不利于公司的長期發(fā)展。創(chuàng)始團(tuán)隊(duì)感覺是在為別人打工，沒有足夠的工作動力;其次，沒有預(yù)留足夠的股權(quán)利益空間吸引優(yōu)秀的合伙人加入，影響公司的長遠(yuǎn)發(fā)展。外部資本對公司的實(shí)際經(jīng)營狀況了解有限，容易做出錯誤決策。

There are many problems with external capital holding, which is not conducive to the long-term development of the company. The founding team feels that they are working for others and do not have enough motivation to work; Secondly, insufficient equity interest space was not reserved to attract outstanding partners, which affected the long-term development of the company. External capital has limited understanding of the company's actual operating conditions and is prone to making incorrect decisions.

因此，企業(yè)在做股權(quán)架構(gòu)時，事先要考慮到未來融資對股權(quán)稀釋的問題，一般來說，一個公司從初創(chuàng)到上市，需要4~5輪題資，好采用小步快跑的方式，多融資幾輪沒關(guān)系，但每輪融資都不要對股權(quán)稀釋太多，確保核心控股股東的地位。

Therefore, when establishing an equity structure, enterprises should consider the issue of dilution of equity through future financing in advance. Generally speaking, a company needs 4-5 rounds of capital raising from startup to listing, so it is advisable to adopt a small step and fast run approach. It is okay to raise multiple rounds of capital, but each round of financing should not dilute the equity too much to ensure the position of core controlling shareholders.

7.股權(quán)結(jié)構(gòu)不要平均化

7. Do not average the equity structure

每個合伙人對公司的貢獻(xiàn)可能都不一樣，如果平均分配股權(quán)，自然會讓付出多的合伙人不滿，容易引發(fā)糾紛，導(dǎo)致項(xiàng)目半途而廢;比較成功的模式是有一個核心大股東作為決策中心，另外搭配幾個有話語權(quán)的小股東，保持不同意見的同時又能拍板決策。

Each partner's contribution to the company may be different. If equity is evenly distributed, it will naturally cause dissatisfaction among partners who have paid more, which can easily lead to disputes and lead to the project being abandoned halfway; A more successful model is to have a core major shareholder as the decision-making center, coupled with several minority shareholders with a voice, to maintain different opinions while also making informed decisions.

股權(quán)結(jié)構(gòu)是一個彈性可塑的動態(tài)交互模式，創(chuàng)業(yè)者應(yīng)充分考慮公司的發(fā)展方向、經(jīng)營狀況和融資需求，以及出資人價值、投資額、收益兌現(xiàn)等因素，在進(jìn)行深入分析后合理設(shè)計(jì)股權(quán)結(jié)構(gòu)，并根據(jù)公可的發(fā)展變化及合伙人變動等實(shí)時調(diào)整股權(quán)架構(gòu)。更多相關(guān)內(nèi)容就來我們網(wǎng)站http://www.fxofa66.com咨詢吧！

The equity structure is an elastic and flexible dynamic interaction mode. Entrepreneurs should fully consider the company's development direction, operating conditions, financing needs, as well as factors such as the value of investors, investment amount, and income realization. After conducting in-depth analysis, they should reasonably design the equity structure and adjust it in real-time based on the company's development changes and partner changes. For more related content, come to our website http://www.fxofa66.com Consult!