一直以來，很多創業者，甚至是已初具創業規模的創業者，都問同一個問題，就是怎么確定合伙人的股權比例，即股權架構設計。明確股權的分配比例才能明確合伙人的責任和利益，進而提高合伙創業的效率。

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.

關于創業團隊股權架構設計，包括什么人可以參與股權分配，股權蛋糕如何切割，股權分配需要考慮的因素，合伙人股權的成熟機制及合伙人特殊原因退出機制安排等方面。

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)哪些人群不適合參與初創股權分配合伙人就是一起做事的人，在創業層面的理解應該是能背靠背，各自獨當一面，實現各自包括研發、運營、資金和渠道等優勢有效整合的團隊，合伙人之間緊密聯系、不可相互替代。只有這些合伙人才適合參與股權的分配。

(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)股權蛋糕如何切公司的股權不能由合伙人分光，合伙事業的發展不可或缺的支持還包括新合伙人、核心員工和投資人。

(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，在切股權蛋糕時，應當具有長遠眼光，預留好未來需要引進的新合伙人的股權、員工激勵股權份額及未來需要引進的投資人的份額。具體預留份額沒有固定比例，需要合伙團隊根據實際情況而定。這些預留的股權份額可由CEO合伙人代持。當然，這里講的預留是針對普通有限責任公司，對于股份有限公司，則不存在這個問題，股份公司可以增發股份，不一定要采用預留的方式。

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)合伙人股權比例分配的考慮因素在預留股權后，剩余的基本上就是合伙人可以分配的股權。分配比例通?？紤]如下因素。出資比例：如果所有合伙人都同意按比例出資且各方資源優勢基本相當，則可直接按出資比例分配。如果只有部分合伙人出資，則出資的合伙人可以取得比沒有出資的合伙人更多的股權。

(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)合伙人股權成熟機制合伙人股權成熟機制的法律價值在于預防個別合伙人中途退出給項目造成的影響，約定合伙人分到的股權并不是實打實到手的股權，而是附條件的成熟和實現。

(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.