一家创业公司在成立之初,股权结构中可能既有创始人,也有顾问、早期员工及投资人等,除了创始人以以外的持股人,可能也会在资源方面对公司做出很大贡献。根据这部分人在创业企业中的作用,我们不妨称为特殊类型的合伙人,这些人职全职合伙人是有区则的,在引人这些合伙人时也需要惧重考忠,因为,
济南股权合伙公司提醒,从法律角度看,引进他们很容易,但如果合作不愉快要请他们离开,而事先对相关安排考虑又不周全的,可能就会产生问题。
At the beginning of a startup, the equity structure may include both the founder, consultants, early employees, and investors. In addition to the founder, shareholders may also make significant contributions to the company in terms of resources. Based on the role of these individuals in entrepreneurial enterprises, we may refer to them as special types of partners. These individuals hold full-time positions as partners, and when recruiting these partners, we also need to be afraid of being loyal. Jinan Equity Partnership reminds us that from a legal perspective, it is easy to attract them, but if the cooperation is not pleasant, we should ask them to leave, and if the relevant arrangements are not fully considered in advance, it may cause problems.
顾问
adviser
创业初期,企业拥有的资源就是股权,而面临的困难却是多方面的,为了能够让公司顺利起步并得到进一步的发展,通常会考虑借助各方面的资源。
In the early stages of entrepreneurship, the resources owned by a company are equity, but the difficulties faced are multifaceted. In order to enable the company to start smoothly and achieve further development, it is usually considered to use various resources.
如果顾问只是单纯地提供资源渠道,打通人脉关系,并不全情投人创业过程的话,则要区分这种资源渠道对创业企业的影响力,决定如何对顾问进行利益安排,以及判断是否适合做合伙人。评估影响力可以分为两个层次:
If a consultant only provides resource channels to establish connections and does not fully participate in the entrepreneurial process, it is necessary to distinguish the influence of these resource channels on the entrepreneurial enterprise, decide how to arrange the interests of the consultant, and determine whether it is suitable to be a partner. The evaluation of influence can be divided into two levels:
①如果资源渠道对创业企业而言有决定性的作用,决定着创业企业能否开张,那么合伙人身份问题、股份问题、待遇问题就完全取决于双方的协商没有什么价值评估模型在这种情况下是适用的;毕竟,公司如果不开张,合伙人身份及股权也就没有价值。
① If resource channels play a decisive role in determining whether a startup can open, then the issues of partner identity, shareholding, and treatment depend entirely on the negotiation between both parties. There is no value evaluation model applicable in this situation; After all, if a company does not open, its partner status and equity will have no value.
②如果资源渠道对创业企业而言只是具有增量性的作用,企业的生死存亡并不取决于这些资源的话,建议在给顾问许诺股权时要慎重。
② If resource channels only have an incremental effect on entrepreneurial enterprises, and the survival of the enterprise does not depend on these resources, it is recommended to be cautious when promising equity to consultants.
主要原因是,这些资源能否为企业带来价值及带来多大价值具有不确定性,并且在股权架构上也需要为公司后续融资的股权稀释预留空间,提前过多地许诺股权可能会在后续融资稀释时对控制权的变动有影响。
The main reason is that there is uncertainty about whether these resources can bring value to the enterprise and how much value they can bring, and there is also a need to reserve space for the dilution of equity in the company's subsequent financing in the equity structure. Promising too much equity in advance may have an impact on changes in control during subsequent financing dilution.
所以,如果不是必须给股权,也可以考虑以计提工资的形式给予许诺,将来在某个时点(比如A轮融资时)可以按照约定的价格转换为公司股权;或者也可以由双方协商一个条件,在实现资源价值时由创始大股东转让--定比例的股份给顾问作为回报,并约定违约金条款,防止对方反悔。
So, if it is not necessary to give equity, it can also be considered to give a promise in the form of salary provision, which can be converted into company equity at the agreed price at a certain point in the future (such as during the A-round financing); Alternatively, both parties can negotiate a condition where the founding shareholder transfers a certain proportion of the shares to the consultant in return for realizing the value of the resource, and agree on a penalty clause to prevent the other party from reneging.
当然,很多情况下,资源渠道对于公司的作用到底是决定性的还是增量性的,可能也不太容易区分,这时候,更多的是由创始合伙人结合公司实际情况做出判断。一个基本常识是,只有全体同共同努力使公司成功了股权才会有价值,否则都是水中月、镜中花。
Of course, in many cases, it may not be easy to distinguish whether the role of resource channels in a company is decisive or incremental. In this case, it is more up to the founding partners to make judgments based on the actual situation of the company. A basic common sense is that only when everyone works together to make the company successful can equity be valuable, otherwise it is all a moonshine in the water and a flower in the mirror.
创业者的爱人
Entrepreneurs' Lovers
关于创业者的爱人是否适合当合伙人,并没有统一的答案。一般来说,爱人是一种非常特殊的合伙人,他/她经过婚姻的选择,彼此相当了解和熟悉,双方之间的信任成本低,法律上都有规定夫妻之间可以不经书面授权而对日常家事相互有代理权,足见这是一种高度密切的契约关系。然而,如果合伙做企业,需要考量的因素就远远不是日常家事这么简单的关系了,各种财务问题、业务问题、人事问题、对外公关问题等会让双方之间在很多方面面临新的考验。
There is no unified answer as to whether the lover of an entrepreneur is suitable for being a partner. Generally speaking, a lover is a very special type of partner who, through the choice of marriage, has a good understanding and familiarity with each other. The cost of trust between the two parties is low, and there are legal provisions that allow couples to have agency rights for daily household affairs without written authorization, indicating a highly close contractual relationship. However, if a partnership is established, the factors that need to be considered are far from simple relationships such as daily household chores. Various financial, business, personnel, and external public relations issues will face new challenges in many aspects between the two parties.
兼职人员
Part time personnel
创业过程中,由于成本控制因素、人才储备短缺等多方面的原因,可能需要一些技术大咖、牛人等对企业具价值而企业又无力支付雇佣成本的人作为兼职人员为公司提供服务支持。这种类型的人员,可能会在短期内为企业集中提供些支持,但无法长期全情投入到创业公司,与其他创业人员共同承担创业风险。因此,考虑这种类型的人做合伙人时,需要慎之又慎。处理的方法可以分为两种:
In the process of entrepreneurship, due to various factors such as cost control and shortage of talent reserves, it may be necessary for some technical experts, professional experts, and others who are valuable to the enterprise but cannot afford employment costs to serve as part-time personnel to provide service support to the company. This type of person may provide some support for the concentration of enterprises in the short term, but cannot fully invest in the startup company in the long term and share the entrepreneurial risks with other entrepreneurs. Therefore, when considering this type of person as a partner, it is necessary to be both cautious and cautious. The processing methods can be divided into two types:
①当下可以为公司带来价值,未来不确定是否可以加盟公司的,不适合向其释放股权做合伙人,给予工资报酬将是一个简单可行的选择。
① Currently, it can bring value to the company, but in the future, it is uncertain whether one can join the company. It is not suitable to release equity as a partner, and providing salary compensation will be a simple and feasible choice.
②当下可以为公司带来价值,未来确定可以加盟公司的,可以向其释放股权做合伙人,释放股权的比例可以由双方协商。稳妥起见,在确定加盟公司之前,可以向其支付工资,在实际加盟公司时按照双方约定的价格将工资转为公司股权;同时,如果工资还不足以反映其价值的,还可以考虑授子公司期权,并按照双方约定的时间、价格行权。
② At present, it can bring value to the company. If it is confirmed that one can join the company in the future, they can be released with equity as partners, and the proportion of equity released can be negotiated by both parties. To be cautious, before determining the franchise company, salary can be paid to it, and the salary can be converted into company equity at the agreed price when actually joining the company; At the same time, if the salary is not sufficient to reflect its value, it can also be considered to grant options to subsidiaries and exercise them at the time and price agreed upon by both parties.
天使投资人
Angel investors
天使投资是一种参与性投资,也被称为增值型投资。投资后,天使投资人往往积极参与被投企业战略决策和战略设计,为被投企业提供咨询服务,帮助被投企业招聘管理人员,协助公关,设计退出渠道和组织企业退出等。然而,不同的天使投资人对于投资后管理的态度不同,一些天使投资人会积极参与投资后管理,而另一些天使投资人则不然。
Angel investment is a participatory investment, also known as value-added investment. After investing, angel investors often actively participate in the strategic decision-making and design of the invested enterprise, provide consulting services for the invested enterprise, assist in recruiting management personnel, assist in public relations, design exit channels, and organize the enterprise's exit. However, different angel investors have different attitudes towards post investment management. Some angel investors actively participate in post investment management, while others do not.
所以创始人在初选择天使投资人时,应当从长远角度明确自己的需求,是只解决资金问题还是侧重长线价值投资人的引人,并据此四配合适的天使投资人类型。从股权架构上来看,投资人只要完成投资,就会成为法律意义上的合作伙伴,并享有《公司法》及公司章程赋予的各项权利,创始股东就要做好与之长期共事的准备。如果投资人的风格类型与创始股东团队有很大的磨合成本,也会给公司后续的发展带来新的问题。
So when founders first choose angel investors, they should clarify their needs from a long-term perspective, whether to only solve financial problems or focus on attracting long-term value investors, and accordingly allocate appropriate types of angel investors. From the perspective of equity structure, as long as investors complete their investments, they will become legal partners and enjoy various rights granted by the Company Law and articles of association. The founding shareholders must be prepared to work with them for a long time. If there is a significant cost of aligning the investor's style with the founding shareholder team, it will also bring new problems to the company's subsequent development.
Therefore, for whether to choose angel investors and what type of angel investors to choose, a pre judgment should be made based on the needs of the startup company. For more related equity partnership matters, please visit our website http://www.daoshangbao.com Consult!