一直以来，很多创业者，甚至是已初具创业规模的创业者，都问同一个问题，就是怎么确定合伙人的股权比例，即股权架构设计。明确股权的分配比例才能明确合伙人的责任和利益，进而提高合伙创业的效率。

All along, many entrepreneurs, even those who have begun to start businesses, have asked the same question, that is, how to determine the equity ratio of partners, that is, the equity structure design. Only by making clear the proportion of equity distribution can we make clear the responsibilities and interests of partners, so as to improve the efficiency of partnership entrepreneurship.

关于创业团队股权架构设计，包括什么人可以参与股权分配，股权蛋糕如何切割，股权分配需要考虑的因素，合伙人股权的成熟机制及合伙人特殊原因退出机制安排等方面。

About the design of equity structure of entrepreneurial team, including who can participate in equity distribution, how to cut the equity cake, the factors to be considered in equity distribution, the mature mechanism of partner equity and the arrangement of partner exit mechanism for special reasons, etc.

(1)哪些人群不适合参与初创股权分配合伙人就是一起做事的人，在创业层面的理解应该是能背靠背，各自独当一面，实现各自包括研发、运营、资金和渠道等优势有效整合的团队，合伙人之间紧密联系、不可相互替代。只有这些合伙人才适合参与股权的分配。

(1) Which groups are not suitable to participate in the equity distribution of start-ups? Partners are the people who work together. In terms of entrepreneurship, the understanding should be a team that can be back-to-back, work independently, and achieve effective integration of their own advantages, including R & D, operation, capital and channels. Partners are closely connected and can not be replaced. Only these partners are suitable for equity distribution.

(2)股权蛋糕如何切公司的股权不能由合伙人分光，合伙事业的发展不可或缺的支持还包括新合伙人、核心员工和投资人。

(2) How to cut the equity cake? The company's equity cannot be divided by the partners. The indispensable support for the development of the partnership also includes new partners, core employees and investors.

所以，在切股权蛋糕时，应当具有长远眼光，预留好未来需要引进的新合伙人的股权、员工激励股权份额及未来需要引进的投资人的份额。具体预留份额没有固定比例，需要合伙团队根据实际情况而定。这些预留的股权份额可由CEO合伙人代持。当然，这里讲的预留是针对普通有限责任公司，对于股份有限公司，则不存在这个问题，股份公司可以增发股份，不一定要采用预留的方式。

Therefore, when cutting the equity cake, we should have a long-term vision, and reserve the shares of new partners, employee incentive shares and investors that need to be introduced in the future. There is no fixed proportion of specific reserved shares, which needs to be determined by the partnership team according to the actual situation. These reserved shares can be held by CEO partners. Of course, the reservation here is for ordinary limited liability companies. For joint stock limited companies, there is no such problem. Joint stock companies can issue additional shares and do not have to use the reservation method.

(3)合伙人股权比例分配的考虑因素在预留股权后，剩余的基本上就是合伙人可以分配的股权。分配比例通常考虑如下因素。出资比例：如果所有合伙人都同意按比例出资且各方资源优势基本相当，则可直接按出资比例分配。如果只有部分合伙人出资，则出资的合伙人可以取得比没有出资的合伙人更多的股权。

(3) After the reserved equity, the remaining equity is basically the equity that can be distributed by partners. The distribution ratio usually takes into account the following factors. Proportion of capital contribution: if all partners agree to make capital contribution in proportion and the resource advantages of each party are basically equal, it can be directly distributed according to the proportion of capital contribution. If only part of the partners contribute, the partners who contribute can obtain more equity than those who do not.

(4)合伙人股权成熟机制合伙人股权成熟机制的法律价值在于预防个别合伙人中途退出给项目造成的影响，约定合伙人分到的股权并不是实打实到手的股权，而是附条件的成熟和实现。

(4) The legal value of partner equity maturity mechanism is to prevent the impact of the withdrawal of individual partners on the project. The equity allocated by the agreed partners is not the real equity, but the maturity and realization with conditions.