创业合伙人之间容易起争端的问题之一就是股权分配,任何一家公司,在初创立时就应该系统考虑
山东企业股权分配划分问题,以免在可预见的未来,陷入始料不及的股权纷争中。关于合伙人的股权分配,要注意以下几个要点:
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.明确核心股东
1. Clarify core shareholders
很多股权纠纷都源于大股东不清晰,如真功夫,蔡达标和潘宇海从持股50%到47%,一直都处于对等局面,遇到意见分歧时无法集中决策,很容易产生纠纷。因此,合伙人的股权分配,从一开始就要明确公司的核心股东及其拥有的权利,包括在股东会拥有的表决权和对公司的控制力。这样,即使在意见不统一时,也有可“一锤定音”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.保证合伙人股东地位
2. Guarantee the shareholder status of partners
风险共担、利益共享是合伙的特征。因此,我们在设计股权架构时,也要科学评估合伙人在企业的作用,保证合伙人的股东地位和持股比例,为未来和合伙人并肩作战、共进退打好基础。
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.跳出完全按照出资比例分配股权的原则
3. Jump out of the principle of fully allocating equity according to the proportion of investment
在现代企业出资中,除资金外,还有劳务、专利、知识产权等,所以,完全按照出资多少分配股权是不合理的。我们建议企业科学评估各类出资(资金创意、技术、运营、个人),跳出完全按照出资比例分配股权的原则,鼓励有特殊价值的股东和员工,发挥人力资本的大优势,增强公司竞争力,吸引投资者。
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.股权结构简单明晰
4. Simple and clear equity structure
“简单明晰”指股东人数不是太多,股权构成不过于复杂,不存在大量的代持人、期权池、交叉持股、双股权、委托投票权等。据研究分析,初创企业科学的配置是3个人,这样既避免了两个人在沟通方面没有缓冲地带,也不会出现多人决策但无人决定的局面,有助于维护公司和创业项目稳定。
'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.签署股权分配协议
5. Sign equity distribution agreement
很多公司在早期创业时都只顾埋头苦干,仅在口头上约定股权分配比例。一旦公司成长起来,合伙人要求按照股权比例分享利润时,口头约定就很难服众,而如果在这个时候再去讨论股权怎么分,很容易使分配方式不能满足所有人的预期,导致团队出现问题,影响公司的发展前途。
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,创业团队应该在早期就签署书面股权分配协议,约定各合伙人的股权比例。同时,还应该约定股权兑现机制,公平保护合伙人之间的付出,激发各合伙人尽心尽力为企业效力,保证团队稳定,维持项目的长期战略。一般来说,按照合伙人在公司工作的天数,股权分4~5年逐步兑现。
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.谨防外部资本对公司控股
6. Beware of external capital controlling the company
外部资本控股存在很多问题,不利于公司的长期发展。创始团队感觉是在为别人打工,没有足够的工作动力;其次,没有预留足够的股权利益空间吸引优秀的合伙人加入,影响公司的长远发展。外部资本对公司的实际经营状况了解有限,容易做出错误决策。
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,企业在做股权架构时,事先要考虑到未来融资对股权稀释的问题,一般来说,一个公司从初创到上市,需要4~5轮题资,好采用小步快跑的方式,多融资几轮没关系,但每轮融资都不要对股权稀释太多,确保核心控股股东的地位。
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.股权结构不要平均化
7. Do not average the equity structure
每个合伙人对公司的贡献可能都不一样,如果平均分配股权,自然会让付出多的合伙人不满,容易引发纠纷,导致项目半途而废;比较成功的模式是有一个核心大股东作为决策中心,另外搭配几个有话语权的小股东,保持不同意见的同时又能拍板决策。
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.
股权结构是一个弹性可塑的动态交互模式,创业者应充分考虑公司的发展方向、经营状况和融资需求,以及出资人价值、投资额、收益兑现等因素,在进行深入分析后合理设计股权结构,并根据公可的发展变化及合伙人变动等实时调整股权架构。更多相关内容就来我们网站
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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.lushangyun.com Consult!