發布時間：2020-12-29 發布人：山東股章瀏覽次數：799次 來源：www.newadnetwork.com
(1) Unitary equity structure
The unitary equity structure refers to the integration of equity proportion, voting right (voting right) and dividend right.
Under this structure, the rights of all minority shareholders are determined according to the proportion of equity. This is a simple ownership structure, the key to avoid is the deadlock of the company! In practice, there are several "nodes" of voting rights
1. The proportion of capital contribution held by one shareholder is more than 33.4%;
2. There are only two shareholders and the proportion of capital contribution of both parties is 51% and 49% respectively;
3. The proportion of one party's capital contribution exceeds 66.7%;
4. There are two shareholders and the proportion of each party's capital contribution is 50%.
Here, the third proportion of capital contribution means that the company will not form a deadlock under any circumstances, because the proportion of voting rights has reached more than "two-thirds", and useful corporate resolutions can be formed unilaterally on any voting matters, unless the articles of association impose a low limit on the number of shareholders who must "agree". What's worse is the fourth kind of ownership structure. Under the mechanism of 50% voting rights for each shareholder, it means that any resolution made by the company must be agreed by both parties before it can be useful.
(2) Dual ownership structure
Dual equity structure refers to the equity in the equity ratio, voting rights, dividend rights to make unequal proportion between the arrangements, the separation of shareholder rights design.
After the revision of the company law of our country, it is stipulated that the articles of association can stipulate different rights for the same shares. Of course, in a joint-stock company, only different types of shareholders can design this way, and the rights of the same kind of shares should be the same. This kind of architecture design is suitable for those who need to give dividend rights to some partners, but give decision-making rights to multiple co founders of the founders. This kind of equity structure is very common in foreign countries. For example, in the IPO prospectus of Facebook, the equity has been clearly divided into a and B shares. Zuckerberg maintains control of the company by holding a large number of class B shares with high voting rights;
(3) 4 × 4 equity structure
4x4 equity structure on the basis of the dual equity structure, the company's shareholders are divided into four types: founders, partners, employees and investors, and their rights are arranged as a whole to achieve the five goals mentioned above.
There are three main steps in the design of 4x4 equity structure
1： First of all, the shares of investors and founders will be separated from the big cake of company equity;
2： Consider dividing the remaining cake to partners and employees, and in the two parts of the cake, divide each person's share according to his contribution to the company;
3： We should make up for the defects by checking whether there is any irrationality in the shares obtained according to the previous two steps and adjust them.