股权就是企业的根，树没有根会死掉，股权出问题企业也难活。创业企业失败的原因，固然有市场的原因、产品的原因，但是比例是因为股权设计失当导致企业夭折。企业的死亡不是死于外部的竞争，而是死于企业内耗。中国有句老话：生意好做，伙计难搁。“合伙”大部分都是兄弟式合伙，仇人式散伙。

Equity is the root of an enterprise. If a tree does not have a root, it will die, and if there is a problem with equity, the enterprise will not survive. The reasons for the failure of start-up enterprises are the market reasons and product reasons, but the proportion is due to improper equity design leading to the premature death of enterprises. The death of an enterprise is not due to external competition, but to internal friction. There is an old Chinese saying: business is good, but it's hard to put it off. "Partnership" is mostly brother partnership, enemy type split partnership.

股权设计，事关企业的未来，是企业的根基。新一代的企业由产品经营上升到资本经营。新一代的企业要将企业做大做强，离不开股权设计、公司治理。纵观世界，99%的好公司都是公众公司，90%的百年老店都不是家族企业。公众公司拥有完善的股权治理架构。例如，某老总在监狱里，其公司依旧正常运转，而另一位老总进监狱后其公司却瓦解了。之所以有这样的差别，就是股权治理架构的差别。如果想让你的企业真 正实现百年老店，完善的股权治理架构是绕不开的。

Equity design, related to the future of enterprises, is the foundation of enterprises. A new generation of enterprises from product management to capital management. The new generation of enterprises can not do without equity design and corporate governance to make enterprises bigger and stronger. Throughout the world, 99% of good companies are public companies, and 90% of century old stores are not family businesses. Public companies have a sound equity governance structure. For example, when a boss is in prison, his company is still in normal operation, while another boss goes to prison, his company collapses. The reason why there are such differences is the difference of equity governance structure. If you want your enterprise to truly realize a century old store, a perfect equity governance structure is inevitable.

股权伴随企业从生到死，一路相随。开始在某一个领域创业时，核心大股东吸引一批创业合伙人，他们之间需要股权分配。企业干大了，核心大股东需要给核心员工一些股份，以显示企业不仅是核心大股东的，还是大家的。企业不断发展壮大，需要股权融资。企业股权如何进行估值？融资时怎么跟投资人谈？占多少股份？怎么控制公司？这离不开股权设计。

Equity is accompanied by the enterprise from life to death. When starting a business in a certain field, the core shareholders attract a group of venture partners, and they need equity distribution. When the enterprise is big, the core shareholders need to give some shares to the core employees to show that the enterprise is not only the core shareholders, but also everyone's. The continuous development of enterprises requires equity financing. How to evaluate the equity of enterprises? How to talk with investors when financing? How many shares? How to control the company? This is inseparable from equity design.

当你考虑股权投资时，就是要在别人的公司里占股份，你在拟投资的公司里，是想拥有控制权、相对控制权，还是一票否决权？这需要了解股权。企业的梦想就是股权的财富传承。而企业从小到大，股权法律风险管理贯穿始终。

When you consider equity investment, you want to own shares in other people's companies. Do you want to have control, relative control or veto power in the company you want to invest in? This requires an understanding of equity. The dream of an enterprise is the inheritance of equity wealth. From small to large, the legal risk management of equity runs through the whole process.

股权顶层设计是企业发展的基石，是如此重要，你重视企业的股权了吗？

Equity top-level design is the cornerstone of enterprise development. It is so important. Do you attach importance to the equity of the enterprise?