股权均分

Equity Equalization

如果出资方的资金比例相等，很容易出现“平均主义”，如两名股东各占50%，四名股东各占25%，五名股东各占20%…

If the funding ratio of the investors is equal, it is easy to experience "egalitarianism", such as two shareholders each accounting for 50%, four shareholders each accounting for 25%, and five shareholders each accounting for 20%

“股权均分”导致的直接后果是没有决策者，股东有同等发言权。实际经营中一旦发生影响公司的大事件，股东往往因为个人能力不同考虑问题的方向不同、面临的个人难题不同，导致无法达成一致意见，无法形成决策。长时间议而不决不仅对公司经营非常不利，还会引发股东之间的权力斗争。

The direct consequence of 'equal share of equity' is that there are no decision-makers and shareholders have equal say. In actual business operations, once a major event occurs that affects the company, shareholders often have different personal abilities to consider the direction of the problem and face different personal difficulties, resulting in the inability to reach consensus and make decisions. Long term indecision is not only detrimental to the company's operations, but also triggers power struggles among shareholders.

将股权平分列在死局位，是因为其出现的频率高导致问题的概率大，创业期的同心同德往往让人忽略了利益对人的侵蚀性。随着公司发展大，利益渐多，各自具有权利必然“同床异梦”。此后矛盾升级，彼此之间会不断产生分歧，走向“同室操戈”，甚至“同归于尽”并非耸人听闻。

The reason why equity split comes first in the dead end is because its high frequency of occurrence leads to a high probability of problems, and the solidarity during the entrepreneurial period often makes people overlook the corrosive effects of interests on people. With the development of the company and the increasing benefits, each party's rights will inevitably lead to a different dream. Afterwards, conflicts escalate, and there will be constant disagreements between each other, leading to 'fighting in the same room' or even 'dying together', which is not sensational.

按资配股

Allotment of shares according to capital

按资配股是股权设计中非常容易出现的错误，很多公司在创立时，或许为了图省事，或许认为是合理的，直接按照出资人投入的资金额进行股权比例分配。于是就有了实际经营中，出力的人与出资的人在持股比例上的错乱现象，也称为“人资倒挂”。

Allocating shares according to capital is a very common mistake in equity design. Many companies, when established, may consider it reasonable to allocate their equity directly according to the amount of capital invested by the investors, in order to save time. So there is a phenomenon of confusion in the shareholding ratio between those who contribute and those who contribute in actual business operations, also known as "personnel capital inversion".

从投多少得到多少的直接因果关系看，按资配股好像是公平合理的，但从公司经营的实际角度看，一家公司能否做好，资金只是一方面因素，还有很多因素也必须考虑，如人力贡献、技术、特殊资源等。只有综合各方面因素才能终确定每个人的配股比例。

From the perspective of the direct causal relationship between the amount invested and the amount received, the allocation of shares based on capital seems fair and reasonable. However, from the actual perspective of company operation, whether a company can do well is only a factor of capital, and there are many other factors that must also be considered, such as human contribution, professional technology, special resources, etc. Only by taking into account various factors can the allocation ratio of each individual be determined.

股权过散

Excessive dispersion of equity

公司发展离不开充足的资金，于是一些公司经营者着力为公司寻找“带资入场”的合作者，只要肯投入资金，就会分得股份。这就导致了一些公司规模不算大，但股东众多的怪现象。

The development of a company cannot do without sufficient funds, so some company managers focus on finding partners who can "bring funds into the market" for the company. As long as they are willing to invest funds, they will receive shares. This has led to the strange phenomenon of some companies being not very large, but with a large number of shareholders.

在股东众多的公司中，人多就意味着关系复杂、圈层林立，如果没有一个可以服众的核心人物，就会是一盘散沙，即便公司有优秀的产品、出色的技术、众多的资源，终也只能沦为其他企业的垫脚石。

In a company with many shareholders, having a large number of people means complex relationships and a multitude of circles. Without a core figure who can persuade others, it will be scattered. Even if the company has excellent products, excellent technology, and numerous resources, it can only become a stepping stone for other enterprises.

小股为尊

Focus on small stocks

某公司有甲、乙两名股东，分别拥有公司51%和49%的股份。几年的经营相安无事，后因发展加速，招了一位技术大神丙。为了免去丙的后之优，甲、乙二人决定各拿出3%的股份相赠。公司股权结构变更为:甲掌握48%的股份，乙掌握46%的股份，丙掌握6%的股份。

A certain company has two shareholders, A and B, each holding 51% and 49% of the company's shares. After several years of smooth business operations, due to accelerated development, a technology giant named C was recruited. In order to avoid the latter advantage of C, both A and B decided to donate 3% of their shares to each other. The company's equity structure has been changed to: A holds 48% of the shares, B holds 46% of the shares, and C holds 6% of the shares.

常规状况应该是，丙掌握股权少，是绝对的小股东，在公司内的分量理应轻。但因为甲和乙的持股都没能过半数，在日常经营中没有决策权，所以每当甲与乙意见相左时，都会去争取丙站在自己一边。无论是甲和丙的股份占比之和，还是乙丙的股份占比之和，都能超过51%也就是说只要获得了丙的支持，就等于某项决策可以通过了。丙好看到了自己的重要地位，他没有选择固定站队，而是在个人利益至上的前提下周旋于甲、乙之间，终形成了甲、乙被架空，丙成为隐形决策者的局面。

The conventional situation should be that C holds less equity and is an absolute minority shareholder, with a relatively light weight within the company. But because neither Party A nor Party B holds more than half of the shares, they have no decision-making power in daily operations. Therefore, whenever Party A and Party B have conflicting opinions, they will strive to gain Party C's side. Both the sum of the shares of Party A and Party C, as well as the sum of the shares of Party B and Party C, can exceed 51%, which means that as long as Party C's support is obtained, a decision can be passed. Binghao saw his important position and did not choose to stand in a fixed position. Instead, he hovered between A and B under the premise of personal interests, ultimately forming a situation where A and B were elevated and C became an invisible decision-maker.

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