股权设计是一场在合规框架内的精密博弈。有些结构看起来“民主”“公平”，实则是定时炸弹。以下是股权设计的4个“绝对不能碰”——

Equity design is a precise game within a compliance framework. Some structures may seem 'democratic' and 'fair', but they are actually time bombs. Here are four "absolutely not to touch" aspects of equity design——

第一条：绝对不要50：50。

The first rule: Never make it 50:50.

两人合伙，50：50是非常糟糕的结构。看似民主，一旦股东之间意见相左且无退出机制，公司将陷入有效僵局，决策瘫痪，甚至引发司法解散。如果建议维持持股平衡，建议在公司章程中引入“僵局解决机制”，或引入持股比例出彩小的第三方打破平衡。

A 50:50 partnership between two people is the worst structure. Seemingly democratic, once there is a disagreement among shareholders and no exit mechanism, the company will fall into a complete deadlock, decision-making paralysis, and even trigger judicial dissolution. If it is necessary to maintain a balance of shareholding, it is recommended to introduce a "deadlock resolution mechanism" in the company's articles of association or introduce a third party with a very small shareholding ratio to break the balance.

第二条：绝对不要33：33：33。

Article 2: Never do 33:33:33.

三人合伙各占三分之一，是决策噩梦。明显重大决策都需要两票以上同意，但明显两个人联合就能否决第三个人——结果是谁也干不成事。核心原则是：大股东股权 > 二股东+三股东股权之和。70：20：10或60：30：10是更合理的框架。

A partnership of three people, each holding one-third, is a decision-making nightmare. Any major decision requires two or more votes in favor, but any combination of two people can veto a third person - the result is that no one can do it. The core principle is that the equity of the major shareholder is greater than the sum of the equity of the second and third shareholders. 70:20:10 or 60:30:10 is a more reasonable framework.

第三条：绝对不要98：2。

Article 3: Never use a ratio of 98:2.

两人合伙中，98：2的“独食”结构同样危险。小股东几乎没有话语权，一旦心生不满，轻则不配合工作，重则诉诸法律。好的股权结构应该是“大而不独” ——第一股东股份不少于50%，第二股东股份不少于10%。

The 98:2 "solo eating" structure in a partnership is equally dangerous. Small shareholders have almost no say, and once they feel dissatisfied, they may not cooperate with the work or resort to legal action. A good equity structure should be 'large but not exclusive' - the first shareholder's shares should not be less than 50%, and the second shareholder's shares should not be less than 10%.

第四条：绝对不要“资源入股”不设条件。

Article 4: Never "invest resources" without conditions.

资源、人脉、想法——都不应该直接算股份。资源应该是“债”而不是“股”，想法什么都不是。如果建议用股权换取资源，建议设置对赌条件和成熟机制——资源到位多少、兑现多少股权，而不是一次性给完。

Resources, connections, and ideas should not be directly counted as shares. Resources should be 'debt' rather than 'stocks', ideas are nothing. If it is necessary to exchange equity for resources, betting conditions and mature mechanisms must be established - the amount of resources available and the amount of equity to be redeemed, rather than giving them all at once.

那好的股权设计应该怎么做？

How should a good equity design be done?

第一步：按贡献定价，不按出资均分。 资金、技术、管理、资源——不同贡献按不同权重评估。第二步：预留期权池。 10%-20%的期权池用于吸引人才和后续融资。第三步：设定动态调整机制。 贡献是动态的，股权也应该是动态的。第四步：法律固化。 所有设计落到股东协议和公司章程中。

Step 1: Pricing based on contributions, not evenly distributed based on contributions. Funds, technology, management, resources - different contributions are evaluated according to different weights. Step 2: Reserve an option pool. 10% -20% of the option pool is used to attract talent and subsequent financing. Step 3: Set up a dynamic adjustment mechanism. Contributions are dynamic, and equity should also be dynamic. Step 4: Legal solidification. All designs are included in the shareholder agreement and company bylaws.

本文由济南股权架构设计友情奉献.更多有关的知识请点击:股权设计是一场在合规框架内的精密博弈。有些结构看起来“民主”“公平”，实则是定时炸弹。以下是股权设计的4个“绝对不能碰”——

Equity design is a precise game within a compliance framework. Some structures may seem 'democratic' and 'fair', but they are actually time bombs. Here are four "absolutely not to touch" aspects of equity design——

第一条：绝对不要50：50。

The first rule: Never make it 50:50.

两人合伙，50：50是非常糟糕的结构。看似民主，一旦股东之间意见相左且无退出机制，公司将陷入有效僵局，决策瘫痪，甚至引发司法解散。如果建议维持持股平衡，建议在公司章程中引入“僵局解决机制”，或引入持股比例出彩小的第三方打破平衡。

A 50:50 partnership between two people is the worst structure. Seemingly democratic, once there is a disagreement among shareholders and no exit mechanism, the company will fall into a complete deadlock, decision-making paralysis, and even trigger judicial dissolution. If it is necessary to maintain a balance of shareholding, it is recommended to introduce a "deadlock resolution mechanism" in the company's articles of association or introduce a third party with a very small shareholding ratio to break the balance.

第二条：绝对不要33：33：33。

Article 2: Never do 33:33:33.

三人合伙各占三分之一，是决策噩梦。明显重大决策都需要两票以上同意，但明显两个人联合就能否决第三个人——结果是谁也干不成事。核心原则是：大股东股权 > 二股东+三股东股权之和。70：20：10或60：30：10是更合理的框架。

A partnership of three people, each holding one-third, is a decision-making nightmare. Any major decision requires two or more votes in favor, but any combination of two people can veto a third person - the result is that no one can do it. The core principle is that the equity of the major shareholder is greater than the sum of the equity of the second and third shareholders. 70:20:10 or 60:30:10 is a more reasonable framework.

第三条：绝对不要98：2。

Article 3: Never use a ratio of 98:2.

两人合伙中，98：2的“独食”结构同样危险。小股东几乎没有话语权，一旦心生不满，轻则不配合工作，重则诉诸法律。好的股权结构应该是“大而不独” ——第一股东股份不少于50%，第二股东股份不少于10%。

The 98:2 "solo eating" structure in a partnership is equally dangerous. Small shareholders have almost no say, and once they feel dissatisfied, they may not cooperate with the work or resort to legal action. A good equity structure should be 'large but not exclusive' - the first shareholder's shares should not be less than 50%, and the second shareholder's shares should not be less than 10%.

第四条：绝对不要“资源入股”不设条件。

Article 4: Never "invest resources" without conditions.

资源、人脉、想法——都不应该直接算股份。资源应该是“债”而不是“股”，想法什么都不是。如果建议用股权换取资源，建议设置对赌条件和成熟机制——资源到位多少、兑现多少股权，而不是一次性给完。

Resources, connections, and ideas should not be directly counted as shares. Resources should be 'debt' rather than 'stocks', ideas are nothing. If it is necessary to exchange equity for resources, betting conditions and mature mechanisms must be established - the amount of resources available and the amount of equity to be redeemed, rather than giving them all at once.

那好的股权设计应该怎么做？

How should a good equity design be done?

第一步：按贡献定价，不按出资均分。 资金、技术、管理、资源——不同贡献按不同权重评估。第二步：预留期权池。 10%-20%的期权池用于吸引人才和后续融资。第三步：设定动态调整机制。 贡献是动态的，股权也应该是动态的。第四步：法律固化。 所有设计落到股东协议和公司章程中。

Step 1: Pricing based on contributions, not evenly distributed based on contributions. Funds, technology, management, resources - different contributions are evaluated according to different weights. Step 2: Reserve an option pool. 10% -20% of the option pool is used to attract talent and subsequent financing. Step 3: Set up a dynamic adjustment mechanism. Contributions are dynamic, and equity should also be dynamic. Step 4: Legal solidification. All designs are included in the shareholder agreement and company bylaws.

本文由济南股权架构设计友情奉献.更多有关的知识请点击:http://www.daoshangbao.com真诚的态度.为您提供为多维度的服务.更多有关的知识我们将会陆续向大家奉献.敬请期待.

This article is a friendly contribution from Jinan Equity Structure Design For more information, please click: http://www.daoshangbao.com Sincere attitude To provide you with comprehensive services We will gradually contribute more relevant knowledge to everyone Coming soon.真诚的态度.为您提供为多维度的服务.更多有关的知识我们将会陆续向大家奉献.敬请期待.

This article is a friendly contribution from Jinan Equity Structure Design For more information, please click: http://www.daoshangbao.com Sincere attitude To provide you with comprehensive services We will gradually contribute more relevant knowledge to everyone Coming soon.