實踐與推動助力企業健康持續成長
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股權架構中的三種僵局如何進行破解？
發布時間：2023-12-20 來源：http://www.yunjingwu.com.cn/
股權層面的控制權
Control rights at the equity level
（1）掌握絕對控股和相對控股
(1) Mastering absolute and relative control
絕對控股，股份要達到67%以上，企業的決策權才掌握在創始人手中。在絕對控股情況下，股東有修改公司章程合并變更主營項目重大決策的權力
Absolute control requires a shareholding of over 67% in order for the decision-making power of the enterprise to be in the hands of the founder. Under absolute control, shareholders have the right to modify the company's articles of association, merge and change major decisions related to the main business project
相對控股，股份要達到51%的股份。根據中國公司法和公司章程，企業的高決策機構是股東會，股東會普通表決事項，需要二分之一以上多數表決權通過。而少數重大事項，需要三分之二以上表決權通過
Relative control requires a 51% stake. According to the Company Law and Articles of Association of China, the highest decision-making body of a company is the shareholders' meeting. Ordinary voting matters at the shareholders' meeting require more than half of the voting rights to be passed. And for a few major matters, more than two-thirds of the voting rights are required to be passed
所以一般建議創始人的股權占比在67%以上，掌握了控股權，就能控制股東決策，進而控制企業
So it is generally recommended that the founder's equity proportion should be above 67%. Once they have control of the equity, they can control shareholder decisions and thus control the company
（2）投票權和股權的分離
(2) Separation of voting rights and equity
在股權設計上，股權和投票權是可以分開的，創始人通過設計股權結構，以小股權獲得大控制權
In terms of equity design, equity and voting rights can be separated, and founders can obtain large control through designing equity structures with small equity interests
從股東手里分離出投票權，主要有三種設計形式：
There are three main design forms for separating voting rights from shareholders:
①投票權委托
① Voting rights delegation
就是公司部分股東通過協議約定，將其投票權委托給其他特定股東（比如創始人）行使
It means that some shareholders of the company entrust their voting rights to other specific shareholders (such as the founder) through an agreement to exercise them
②一致行動人
② Concerted action person
通過協議，某些股東就特定事項采取一致行動。出現意見不一致時，其他股東跟隨一致行動人投票
Through an agreement, certain shareholders take unanimous action on specific matters. When there is disagreement, other shareholders follow the unanimous action to vote
③AB股計劃
③ AB share plan
同股不同權，即A股每股具有一個投票權，B股每股有多票投票權（一般每股為10票）。普通股東持有A股，創始人持B股，來保障控制權
Same share but different rights, that is, A shares have one voting right per share, and B shares have multiple voting rights per share (usually 10 votes per share). Ordinary shareholders hold A shares, while founders hold B shares to safeguard control rights
董事會層面的控制權
Control at the board level
董事會和股東會是相對獨立的，股東沒有干預董事會經營決策的權力。創始人要注意控制董事會成員，委派利益相關的董事進入，設立一個“受控制的董事會”。
The board of directors and the shareholders' meeting are relatively independent, and shareholders have no power to interfere with the board's business decisions. The founder should pay attention to controlling the members of the board of directors, appointing directors with relevant interests to enter, and establishing a "controlled board of directors".
感謝您的閱讀，此文的文章來源：濟南股權合伙設計更多的內容和問題請點擊：http://www.yunjingwu.com.cn我們會繼續努力的為您提供服務，感謝您的支持！
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