其实，很早之前我也关注过这个问题，但是发现知乎上确实很多问题都大同小异，关于这个股权架构设计的问题理解还是有很多个版本。但是，这确实是一个非常复杂的问题，也不是几句话能说清楚，或者套用一两个模板就能解决问题的。

In fact, I have also been paying attention to this issue a long time ago, but I found that there are indeed many similar issues on Zhihu, and there are still many versions of the understanding of this equity structure design issue. However, this is indeed a very complex problem, and it cannot be explained clearly in just a few words or solved by applying one or two templates.

区分两个概念：

Distinguish between two concepts:

股权分配：是指单体公司创立初期，创始团队成员之间，依据风险承担和人力资本（人力资本：提供复杂劳动）价值输出的不同进行量化分配的过程 [课程详情：几个人合伙创业，股权怎么分？4C动态量化股权分配模型]。

Equity distribution refers to the process of quantitative distribution among founding team members of a single company in the early stages of its establishment, based on different levels of risk taking and human capital (human capital: providing complex labor) value output.

4C量化股权分配模型（动态机制依据实际需求而定）

4C Quantitative Equity Allocation Model (Dynamic Mechanism Based on Actual Needs)

股权架构设计：是指创始股东基于股权分配的基础之上，综合性的考虑预留期权池和设计合伙人动态股权调整机制，并且约定合伙人之间进入、退出机制，从控制权层面做同股不同权的安排。进而基于公司商业模式和组织结构裂变而形成的多个公司的形态。对于这种模式下的股权设计，可以称之为生态型股权架构设计。

Equity structure design: refers to the comprehensive consideration of reserving option pools and designing dynamic equity adjustment mechanisms for partners by the founding shareholders based on equity distribution, and agreeing on entry and exit mechanisms among partners, making arrangements for the same share but different rights at the control level. Based on the business model and organizational structure of the company, multiple forms of companies are formed. For equity design under this model, it can be referred to as ecological equity structure design.

那么，回到题主的问题中来，创业型公司如何设计股权方案呢？第一步我们需要合理的分配股权，也就是上述解释中对于股权分配的理解。那么对于创始团队之间的股权如何分配的问题，基于公司组织结构的建立，我们就应该从合伙人诉求开始思考。

So, returning to the main question, how do entrepreneurial companies design equity plans? The first step is to allocate equity reasonably, which is the understanding of equity distribution in the above explanation. So, regarding the issue of how to allocate equity between founding teams, based on the establishment of the company's organizational structure, we should start thinking from the demands of partners.

从宏观层面上，创业公司组建早期为核心的四类人：创始人、合伙人、核心员工、投资人。他们都是属于公司也是早期风险的承担者和价值贡献输出者，在人力资本/互联网轻资产驱动的初创公司，早期做股权架构设计的时候基本上都是围绕着基于人力资本价值输出的高度认可。在我看来，科学的股权架构基本上是要满足早期这核心四类人的诉求：

From a macro perspective, there are four types of people at the core of early startup companies: founders, partners, core employees, and investors. They are both early risk bearers and value contribution exporters of the company. In the early stage of equity structure design of human capital/Internet asset light driven start-ups, they are basically highly recognized based on the value output of human capital. In my opinion, a scientific equity structure is basically aimed at meeting the demands of these four core groups of people in the early stages:

科学的股权架构是基于用户心理学而确定的

The scientific equity structure is determined based on user psychology

创始人维度来看，本质上的诉求是控制权，创始人的诉求是掌握公司的发展方向，所以在早期做股权架构设计的时候必须考虑到创始人控制权，有一个相对较大的股权（一般建议是合伙人平均持股比例的2-4倍）

From the perspective of the founder, the fundamental demand is control, and the founder's demand is to grasp the company's development direction. Therefore, when designing the equity structure in the early stages, it is necessary to consider the founder's control and have a relatively large equity (generally recommended to be 2-4 times the average shareholding ratio of partners)

合伙人维度来看，合伙人/联合创始人作为创始人的追随者，基于合伙理念价值观必须是高度一致。合伙人作为公司的所有者之一，希望在公司有一定的参与权和话语权。所以，早期必须拿出一部分股权来均分（这部分股权基本上占到8%-15%）

From the perspective of partners, as followers of founders, partners/co founders must have highly consistent values based on partnership philosophy. As one of the owners of the company, partners hope to have a certain degree of participation and discourse power in the company. So, in the early stages, it is necessary to allocate a portion of equity to be evenly distributed (this portion of equity basically accounts for 8% -15%)

核心员工维度来看，他们的诉求是分红权，核心员工在公司高速发展阶段起到至关重要的作用，在早期做股权架构设计的时候需要把这部分股权预留出来，等公司处于快速发展阶段的期权就能真正意义派上用场（通常建议初次分配完之后同比例稀释预留10%-25%）

From the perspective of core employees, their demand is dividend rights. Core employees play a crucial role in the rapid development stage of the company. When designing the equity structure in the early stages, it is necessary to reserve this part of the equity, so that the options in the rapid development stage of the company can be truly put into use (usually it is recommended to dilute and reserve 10% -25% in the same proportion after the initial distribution is completed)

投资人维度来看，投资人追求高净值回报，对于优质项目他们的诉求是快速进入和快速退出，所以在一定程度上说，投资人要求的优先清算权和优先认购权是非常合理的诉求，创始团队在面临这些诉求的时候，一定程度上还是需要理解。

From an investor perspective, investors pursue high net worth returns, and their demands for high-quality projects are to enter and exit quickly. Therefore, to some extent, the priority liquidation and subscription rights requested by investors are very reasonable demands. When facing these demands, the founding team still needs to understand to a certain extent.

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This article is dedicated to the design of the top-level equity architecture. For more information, please click: http://www.guquanzhanlue.com Sincere attitude. We provide you with comprehensive service