發布時間：2021-06-30 發布人：山東股章瀏覽次數：684次 來源：www.newadnetwork.com
The reasonable ownership structure of a start-up company can be arranged in advance by each founder. Because of the poor design of the equity structure, it may affect the team cohesion, or even the entry of financing, or even the collapse of the team and the founder being kicked out of the board of directors.
However, the founder's usual situation is that only when the partners have been found and the company has been set up can he think of the rationality of equity distribution. What should the founder do when this happens?
1. There are too many shareholders of financing subject, and there are short-term value shareholders
Risk: before financing, the less the number of equity, the better, no more than 3, 5 is the upper limit. Equity change is not a small thing for the company, and the more the number of shareholders, in the process of entrepreneurship, the stability of shareholders will not be very high, and the greater the probability of withdrawal of shareholders.
In addition, shareholders have many rights, such as audit, voting, signing, etc., which is difficult to coordinate and costly. For long-term resource-based shareholders, shareholders know too much about the upstream and downstream trade secrets during the holding period, whether there are adverse risks, and it is difficult to quantify resources. For short-term resource-based shareholders, it's a waste of equity and unfair to other shareholders.
Solution: try not to let people who are not suitable or have no long-term value become shareholders. If they are already your partner shareholders, then you need to pay attention to tools. For long-term resource-based shareholders, it is necessary to isolate them from the company level, either find other shareholders to hold on their behalf, or enter the shareholding platform; We should try our best to quantify the resources, set up the equity confirmation mechanism, and ask them to buy back or make supplementary investment if they do not reach the expected goal. For short-term resource-based shareholders, if they have reached the level of shareholders, they can negotiate with partners to supplement the agreement on repurchase method.
2. There are legal risks in the proportion of shares
Risk: a. the shareholding ratio of a single shareholder (founder) does not exceed 50%; B. The sum of the shareholding ratio of the top two major shareholders is not more than 51%; C. No shareholder's equity ratio is greater than 33.3% risk: when the shareholders' meeting makes a resolution, if the opinions of all parties can't be unified, more than half of the shareholders can't reach an agreement according to the equity ratio, resulting in decision-making deadlock, and the shareholders' meeting can't make a decision. Although it seems that the situation of one person dominating is not democratic enough, for start-ups, efficient business decision-making is more important.
Plan: according to 4C equity distribution method to redistribute the proportion of equity; Using tools to set up dual equity structure, such as acting in concert, voting power entrustment, partnership system, etc; If the equity is really dispersed, the reserved option pool can be held by the founder on his behalf, so that the founder can have more initiative.
3. The basis of equity distribution is unscientific, lack of fairness and long-term consideration
Risk: with the equity allocation based on experience, it may alleviate the pressure of obtaining scarce resources. However, the equity structure is not a future oriented structure. The higher the equity cost, the worse the future, because it is difficult for the people behind to come in again. Everyone will compare with this person. Why does he have 30% later, This is a knot that cannot be solved.
Plan: use 4C equity distribution theory to reconsider.