创业者通过设计进入规则找到合伙人,并组成团队后,还一定建立与公司治理有关的运营规则。股权将给股东带来财富和权利,但一定关注公司治理,成熟的股权结构就像一张复杂的利益分配网络,应通过公司章程和股东协议书,着重从三个核心利益的角度,做出充分的约定。

After entrepreneurs find partners through designing entry rules and form a team, they must also establish operation rules related to corporate governance. Equity will bring wealth and rights to shareholders, but we must pay attention to corporate governance. A mature equity structure is like a complex interest distribution network. We should make full agreements from the perspective of three core interests through the articles of association and shareholders' agreement.

(一)要分好“权”

（1） We should divide "power"

“权”主要是指投 票表决权,这是股东都很看重的一个权利。

"Right" mainly refers to the right to vote, which is a right valued by shareholders.

这个权利一般是通过对股东出资数额、市场优势、技术优势、资源投入等方面的评估,再根据其贡献度,在公司章程和股东协议中确定各股东权利的大小。这个权利的大小不是简单地按股权比例来确定的,而是以股权比例为基础所实施的一系列权利结构体系和规范。

This right is generally determined in the articles of association and shareholders' agreement through the evaluation of shareholders' capital contribution, market advantage, technical advantage and resource investment, and then according to their contribution. The size of this right is not simply determined according to the equity ratio, but a series of right structure systems and norms based on the equity ratio.

(二)要分好“工”

（2） We should divide the "work"

分工是为了各司其职,互不扯皮。分工的具体内容将在明确“三会一层”的职责范围体现出来。“三会一层”是指股东会、董事会、监事会和管理层。基本思路为:通过股东会表决的方式,将公司的重大事项提交由全体股东决定,并在公司章程中明确股东会的职责范围。例如,融资、转股、委派董事以及修改公司章程等。

Division of labor is to perform their respective duties and not quarrel with each other. The specific content of the division of labor will be reflected in clarifying the scope of responsibilities of "three meetings and one layer"“ "Three boards and one layer" refers to the board of shareholders, the board of directors, the board of supervisors and the management. The basic idea is: submit the major matters of the company to all shareholders for decision by voting at the shareholders' meeting, and clarify the scope of responsibilities of the shareholders' meeting in the articles of association. For example, financing, share conversion, appointment of directors and amendment of the articles of association.

(三)要分好“利”

（3） We should divide "profits"

“利”主要是指分红权。盈利是合伙人创业的目的,只有分配好利益,才能平衡好合伙人关系。合伙人心态平衡了,才能静心努力地工作,公司的发展才有保障。《公司法》“默认”按实缴出资比例分红,在全体合伙人同意的情况下,也可自行约定分红比例,且分红比例与出资比例可以不“相等”。分配的基本原则是谁创造价值,就给谁分配利益。

"Profit" mainly refers to the dividend right. Profit is the purpose of partners' entrepreneurship. Only by distributing interests can we balance the partnership. Only when the partners' mentality is balanced can they work calmly and hard, and the development of the company can be guaranteed《 The "default" of the company law is to pay dividends according to the proportion of paid in capital contribution. With the consent of all partners, the proportion of dividends can also be agreed, and the proportion of dividends and capital contribution can not be "equal". The basic principle of distribution is to distribute benefits to those who create value.