(1)保證股權(quán)規(guī)則運(yùn)用的合規(guī)性

(1) Ensure compliance in the application of equity rules

濟(jì)南股權(quán)頂層架構(gòu)設(shè)計(jì)公司認(rèn)為，股權(quán)合規(guī)性是公司進(jìn)行各種資本運(yùn)作的基本前提，股權(quán)合規(guī)是公司歷史沿革中重要的問(wèn)題。這里的合規(guī)性主要包括以下幾個(gè)方面:

Jinan Equity top-level architecture design company believes that equity compliance is a fundamental prerequisite for the company to conduct various capital operations, and equity compliance is an important issue in the company's historical evolution. The compliance here mainly includes the following aspects:

①出資主體的合規(guī)性，諸如自然人身份的合規(guī)性，不得存在不能作為出資人的情形，如公務(wù)員、國(guó)企管理人員等;好不要存在監(jiān)管上有不確定性的主體，比如契約型基金、資管計(jì)劃、信托計(jì)劃等。

① The compliance of the investment subject, such as the compliance of the identity of a natural person, must not exist in situations where it cannot be a contributor, such as civil servants, state-owned enterprise management personnel, etc; There should be no entities with regulatory uncertainty, such as contractual funds, asset management plans, trust plans, etc.

②出資方式的合規(guī)性，如不合規(guī)，后期可能還需要整改。

② The compliance of the investment method may require further rectification in the future if it does not comply.

③出資人數(shù)的合規(guī)性，有限公司不能超過(guò)50人，股份公司不能超過(guò)200人。

③ The compliance of the number of investors is limited to 50 in a limited liability company and 200 in a joint stock company.

按照現(xiàn)在的監(jiān)管規(guī)則,通過(guò)在基金業(yè)協(xié)會(huì)備案的有限合伙私募股權(quán)基金投資的，很多情況下將不再視為1名出資人，會(huì)被要求穿透計(jì)算有限合伙人的人數(shù)，此時(shí)也應(yīng)注意穿透后合并計(jì)算的人數(shù)不要超過(guò)上述標(biāo)準(zhǔn)。

According to the current regulatory rules, investment through limited partnership private equity funds filed in the fund industry association will no longer be considered as a contributor in many cases, and will be required to calculate the number of limited partners through penetration. At this time, it should also be noted that the number of consolidated calculation after penetration should not exceed the above criteria.

④出資額度的合規(guī)性，對(duì)于某些特殊監(jiān)管行業(yè)，出資額要滿足法定條件，有的還需要進(jìn)行驗(yàn)資。

④ The compliance of the investment amount requires that for certain special regulatory industries, the investment amount must meet legal conditions, and some may require capital verification.

(2)要有穩(wěn)定的控制權(quán)

(2) To have stable control

通過(guò)控制權(quán)規(guī)則的合理運(yùn)用，要能達(dá)到保證公司有穩(wěn)定的控制權(quán)、不會(huì)陷入公司僵局的效果，這是判斷一個(gè)股權(quán)架構(gòu)設(shè)計(jì)得是否成功的關(guān)鍵指標(biāo)。具體包括兩方面:

The reasonable application of control rules ensures that the company has stable control and will not fall into a deadlock, which is a key indicator to determine whether a equity structure design is successful. Specifically, it includes two aspects:

①能夠形成單極穩(wěn)定的控制局面。在股權(quán)架構(gòu)中，無(wú)論是通過(guò)單獨(dú)持股，還是通過(guò)股權(quán)代持、一致行動(dòng)協(xié)議等方式，要形成能夠絕對(duì)控制(67%以上)或者相對(duì)控制(50%以上)或者至少是消極控制(34%)的控制權(quán)分配格局,控制權(quán)越強(qiáng)越有利于公司的穩(wěn)定。

① Capable of forming a unipolar stable control situation. In the equity structure, whether through individual shareholding, equity proxy holding, concerted action agreements, etc., it is necessary to form a control distribution pattern that can have absolute control (over 67%), relative control (over 50%), or at least negative control (34%). The stronger the control, the more conducive it is to the stability of the company.

②避免均衡的持股架構(gòu)。在股權(quán)架構(gòu)設(shè)計(jì)中一定要避免均衡型的持股結(jié)構(gòu)，比如50%:50%、25%:25%:25%:25%等，這種結(jié)構(gòu)的大弊端在于，一旦股東之間發(fā)生矛盾，大家勢(shì)均力敵，很容易導(dǎo)致股東會(huì)不能做出決策并形成公司僵局，給經(jīng)營(yíng)管理和業(yè)務(wù)發(fā)展帶來(lái)重大不利影響，嚴(yán)重的甚至還會(huì)引發(fā)個(gè)人爭(zhēng)斗。

② Avoid a balanced shareholding structure. In the design of equity structure, it is necessary to avoid a balanced shareholding structure, such as 50%:.

(3)充分考慮商業(yè)邏輯的需要

(3) Fully consider the needs of business logic

股權(quán)架構(gòu)在設(shè)計(jì)過(guò)程中，必須要充分理解并尊重商業(yè)邏輯的內(nèi)在規(guī)律。不同的商業(yè)邏輯，對(duì)人的價(jià)值認(rèn)可、對(duì)知識(shí)、時(shí)間和效率的要求等都是不樣的。商業(yè)邏輯中很重要的環(huán)節(jié)就是對(duì)權(quán)利的分配、對(duì)利益的分配，這與股權(quán)架構(gòu)中的股權(quán)分配是密切相關(guān)的。

In the design process of the equity structure, it is necessary to fully understand and respect the inherent laws of business logic. Different business logic has different requirements for human value recognition, knowledge, time, and efficiency. An important aspect of business logic is the distribution of rights and benefits, which is closely related to the equity distribution in the equity structure.

股權(quán)分配如果能夠充分反映商業(yè)邏輯的需求，匹配不同要素的價(jià)值貢獻(xiàn)，對(duì)于公平、合理地完成股權(quán)架構(gòu)設(shè)計(jì)具有很重要的意義。其實(shí)，對(duì)于商業(yè)邏輯的考慮，創(chuàng)始人股東具有發(fā)言權(quán)，這也是創(chuàng)始人在股權(quán)架構(gòu)設(shè)計(jì)的某些方面具有不可替代作用的主要原因。

If equity distribution can fully reflect the needs of business logic and match the value contributions of different elements, it is of great significance for achieving fair and reasonable equity structure design. In fact, for the consideration of business logic, founder shareholders have the right to speak, which is also the main reason why founders have an irreplaceable role in certain aspects of equity structure design.

這樣設(shè)計(jì)出來(lái)的股權(quán)果構(gòu)，才真正反映了公司的實(shí)際訴來(lái)，才是接地氣的、管用的股權(quán)架構(gòu)。您有需求就來(lái)我們網(wǎng)站http://zhenzhush.com咨詢！

The equity structure designed in this way truly reflects the actual litigation of the company, and is a grounded and effective equity structure. Come to our website if you have any needs http://zhenzhush.com consulting service