合伙企業的精髓在合，如果大伙兒不合，那么合伙企業很難成功，而股權架構設計是保證大伙兒“合”的前提。企業沒有好的股權架構，就會導致后期股權分配不合理，為了股權鬧得不歡而散的企業比比皆是，為了避免這類問題，資本大智慧教大家設計企業股權架構的方法，一起來看看。

The essence of partnership lies in cooperation. If everyone is not compatible, it is difficult for the partnership to succeed, and the design of equity structure is the premise to ensure the "cooperation" of everyone. If an enterprise does not have a good equity structure, it will lead to unreasonable equity distribution in the later period. In order to avoid such problems, capital wisdom teaches us how to design the equity structure of an enterprise. Let's have a look.

股權架構設計的目的無非有2種意圖：一是解決目前問題;二是解決未來發展的問題。而股權三要素：價值創造;價值分配;價值評估，針對這三個要素，我們再根據輔 導的企業來講，區分對待，通過系統化、模式化和整體性來解決股權架構。

The purpose of equity structure design is nothing more than two kinds of intentions: one is to solve the current problems; the other is to solve the problems of future development. And the three elements of Equity: value creation; value distribution; value evaluation. For these three elements, we will treat them differently according to the enterprises we tutor, and solve the equity structure through systematization, modelization and integrity.

一：三線合一

1： Three lines in one

這個三線合一是指的梳理企業的業務線、人才線、資金線這樣的三大主線。而股權架構設計主要針對的是企業著眼于未來的發展：企業發展階段、步驟以及每階段“該做什么，做多少，什么樣的關鍵人才和要多少資金”。

The integration of the three lines refers to the three main lines of business line, talent line and capital line. And the equity structure design is mainly aimed at the future development of the enterprise: enterprise development stage, steps and each stage "what to do, how much to do, what kind of key talents and how much capital".

二：定出3股權重

2： Fixed 3 shares

創始股東遵循民 主集中制的原則，用匿名投 票的方式，可以投出自己的建議和想法，再取出平均值;若分歧較大，可以表達自己的理由和理解;按照民 主集中制的原則，然后有創始人拍板決定人力股、資金股和資源股的各自權重。

According to the principle of democratic centralism, the founding shareholders can cast their own suggestions and ideas by anonymous voting, and then take out the average value; if there is a big difference, they can express their reasons and understanding; according to the principle of democratic centralism, then the founders decide the respective weights of human capital stock, capital stock and resource stock.

三：人力股分配方案

3： Manpower share allocation plan

我們通常說的人力股是全職的核心人才(對業績產生關鍵性因素---小麥人才坊創始人劉陽老師經常提到的合伙4大成功條件之一)，分配的原則就是誰貢獻大和責任多及能力強，自然誰就占股就我們在為合伙企業輔 導的過程中，通常會分為創始團隊股權，期權池兩個部分，前部分是指的創始團隊成員;而后者則是核心骨干成員，這兩項內容會單獨詳細寫文講述。

We usually say that human resource stocks are full-time core talents (key factors to performance --- one of the four successful conditions of partnership often mentioned by Mr. Liu Yang, founder of wheat talent workshop). The principle of distribution is that whoever makes great contribution, has more responsibility and strong ability will naturally take up the shares. We are assisting the partnership In the process of guidance, it is usually divided into two parts: the equity of the founding team and the option pool. The former part refers to the members of the founding team, while the latter is the core backbone members. These two contents will be described in detail separately.

四：定出資金股的內外融資估值與方案

4： Determine the internal and external financing valuation and scheme of capital stock

這一步重 點說的就是內部股通常指的是創始股東，主要解決啟動資金的問題，估值則有股東協商而定，常常指的是啟動資金的需求;外部融資股則是通過2輪左右的需要而預留股權。另外，也可以不預留股權，當企業發展需要融資的時候再稀釋股權即可。

The key point of this step is that the internal shares usually refer to the founding shareholders, which mainly solve the problem of start-up capital. The valuation is determined by shareholders' negotiation, which often refers to the demand for start-up capital. The external financing shares reserve equity through about two rounds of needs. In addition, we can not reserve equity, when the development of enterprises need financing, then dilute equity.

五：預定資源股兌現條款和交易結構

5： Cash terms and trading structure of scheduled resource stocks