创业的热潮一波接着一波，从未停歇，大家都想当领导，说到创业，余老师想到的是很多朋友创业中都遇到的问题，那就是股权设计，相信很多朋友对股权设计的重要性是深有体会，今天余老师就从几个角度来剖析下关于股权的那些问题。

The upsurge of entrepreneurship wave after wave never stops. Everyone wants to be a leader. When it comes to entrepreneurship, what Mr. Yu thinks about is the problem that many friends encounter in entrepreneurship, that is, equity design. I believe many friends have a deep understanding of the importance of equity design. Today, Mr. Yu will analyze those problems about equity from several angles.

在进行股权结构设计之前，应该清楚认识到股权结构不是简单的股权比例或投资比例，应该以股东股权比例为基础，通过对股东权利、股东会及董事会职权与表决程序等进行一系列调整后的股东权利结构体系。

Before designing the equity structure, we should clearly realize that the equity structure is not a simple equity ratio or investment ratio. It should be based on the equity ratio of shareholders, through a series of adjustments to the rights of shareholders, the powers and voting procedures of the board of shareholders and the board of directors.

一、股权比例、公司管理、公司决策

1、 Equity ratio, corporate management and corporate decision making

股权是一种基于投资而产生的所有权。公司管理权来源于股权或基于股权的授权。公司决策来源于股权，同时又影响公司管理的方向与规模。股东只要有投资，就会产生一定的决策权利，差别在于决策参与程度和影响力。

Equity is a kind of ownership based on investment. The management right of a company comes from equity or authorization based on equity. Corporate decision-making comes from equity, but also affects the direction and scale of corporate management. As long as shareholders have investment, they will have certain decision-making rights. The difference lies in the degree of participation and influence in decision-making.

二、控股股东

2、 Controlling shareholder

取得决策权的股东是法律上的控股股东。取得控股股东的方式有两种：一是直接实际出资达百分之五十以上；二是直接实际出资没有达到百分之五十，但股权比例大，再通过吸收关联公司股东、密切朋友股等形式，以联盟形式在公司形成控股局势。

The shareholder who gets the decision-making right is the controlling shareholder in law. There are two ways to obtain the controlling shareholder: first, the direct actual capital contribution is more than 50%; Second, the direct actual capital contribution does not reach 50%, but the proportion of equity is large, and then through the absorption of shareholders of related companies, close friends and other forms to form a holding situation in the company in the form of alliance.

三、表决权的取得

3、 Acquisition of voting rights

没能通过以上两种方式成为公司的控股股东，如何对公司进行控股呢?这种情况下，需要在公司成立之初时，在公司章程的起草方面下功夫，以此扩大己方的表决权数。要实现这个股权设计的目的，一般情况下是己方有一定的市场优势或技术优势或管理优势，通过这些优势弥补投资资金上的不足，来换取换取表决权。

If we can't become the controlling shareholder of the company through the above two ways, how can we control the company? In this case, we need to work hard in the drafting of the articles of association at the beginning of the establishment of the company, so as to expand our voting power. In order to achieve the goal of equity design, we usually have certain market advantages, technical advantages or management advantages, which can make up for the lack of investment funds in exchange for voting rights.

四、股权的弱化或强化

4、 Weakening or strengthening of equity

股权的弱化或强化是出于对实际投资人的利益的保护，以及对吸引人才的考虑。常规的股权设计遵循的是同等出资同等权利，但遇有隐名股东，干股等情况下，一旦有人诉求其完整股东权利或要求解散公司并要求分配剩余资产时，就会将公司推向危险的境地。因此，在实践中运用章程、股东合同等形式予以约束\明确相关股东之间的权利取舍，才可以避免今后产生纠 纷。

The weakening or strengthening of equity is due to the protection of the interests of actual investors and the consideration of attracting talents. The conventional equity design follows the principle of equal capital contribution and equal rights. However, in the case of dormant shareholders and dry shares, once someone demands the complete rights of shareholders or demands the dissolution of the company and the distribution of residual assets, the company will be in a dangerous situation. Therefore, in practice, the use of articles of association, shareholders' contract and other forms to restrict and clarify the rights of the relevant shareholders can avoid disputes in the future.

五、表决程序

5、 Voting procedure

股东会与董事会是常见的公司重大事宜表决部门，但如何设计表决的形式及程序需要依据公司的实际情况而定。有些封闭式的公司规定股东对外转让股权时，要求全体股东2/3的表决权通过才可以；有些公司对股东死亡后其继承人进入公司决策层及管理层的表决比例或时限作出特别限 制。

The board of shareholders and the board of directors are the common voting departments for the company's major issues, but how to design the voting form and procedure depends on the actual situation of the company. Some closed companies require 2 / 3 voting rights of all shareholders to pass when shareholders transfer their shares; Some companies impose special restrictions on the voting proportion or time limit for their heirs to enter the decision-making and management of the company after the death of shareholders.

总之，投资者应充分考虑自己的投资目的、投资额、投资所占公司比例，结各项优势对股权结构进行深入的分析考虑，才能更好地维护自身利益，为公司稳健发展奠定基础。

In a word, investors should fully consider their investment purpose, investment amount, investment proportion in the company, and make in-depth analysis and Consideration on the ownership structure with various advantages, so as to better safeguard their own interests and lay the foundation for the steady development of the company.