有多少企业，在初创时期，为了获得更多的资金而进行股权融资，终结果是钱融到手了，但是控制权却失去了。原因是什么?因为他们没有做好万全的股权设计，从而丢了控制权。

How many enterprises, in the initial stage, carried out equity financing in order to obtain more funds, and the final result was that the money was in hand, but the control power was lost. What is the reason? Because they did not do a good job in equity design, they lost control.

在了解这一点之前，我们应该从法律的角度去思考和提醒合伙创业者:如果不想让自己辛苦创业的结果被他人盗取，就必须告诉自己，要牢牢掌握住公司的控制权。这需要从三方面来了解企业的控制权:股权层面的控制权、董事会层面的控制权、公司经营管理的实际控制权。下面主要来说一下股权层面的控制权问题。

Before understanding this point, we should consider and remind the partner entrepreneurs from the legal point of view: if you don't want the results of your hard work to be stolen by others, you must tell yourself to firmly hold the control of the company. This requires understanding the control power of the enterprise from three aspects: the control power at the equity level, the control power at the board level, and the actual control power of the company's operation and management. The following is mainly about the control right at the equity level.

避免僵局股权比例设置

Setting of equity ratio to avoid deadlock

股权是对公司的终极控制权利，公司重大的事项通常都是基于股权由股东(会)决定的。相对控股权往往需要公司创始股东为持有公司股权多的股东，与其他股东相比可以保持对公司的相对控制力。

Equity is the ultimate control right of the company. Major matters of the company are usually decided by the shareholders (meeting) based on equity. Relative control often requires that the founding shareholder of the company is the shareholder who holds more shares of the company, and can maintain relative control over the company compared with other shareholders.

在这里，我们有法律作为依据:根据《公司法》和公司章程，公司的高决策机构是股东(会)，股东会的普通表决事项，多为二分之一以上多数表决权通过，而少数重大事项(如公司章程修改)还需要三分之二以上表决权通过。掌握了控股权，就能够控制股东(会)决策，进而控制公司。

Here, we have the legal basis: according to the Company Law of China and the Articles of Association, the company's high-level decision-making body is the shareholders (meeting), and the ordinary voting matters of the shareholders' meeting are mostly passed by more than half of the voting rights, while a few major matters (such as the amendment of the Articles of Association) still need more than two-thirds of the voting rights. If you master the controlling shares, you can control the decisions of the shareholders (meeting), and then control the company.

股权与投票权分离

Separation of equity and voting rights

股权与投票权是可以分离的。现实情况中，公司不断融资壮大之后，创始人股权会被不断稀释，很难一直保持公司的绝对控股权。为继续持有公司的控制权，可以将其他部分股东股权中的投票权分离出来，交给创始股东行使。

Equity and voting rights can be separated. In reality, after the company's continuous financing and expansion, the founder's equity will be continuously diluted, and it is difficult to maintain the company's absolute control. In order to continue to hold the control right of the company, the voting rights in the equity of other shareholders can be separated and handed over to the founding shareholders.

需要提醒的注意事项是:创始人需要注意把握融资的节奏。一般情况下，企业早期融资的估值和股价都比较低，随着公司发展规模越来越大，公司的估值和溢价会越来越高，融资对创始人股权的稀释效应也会有股权合伙整体解决方案

The cautions to be reminded are: founders need to pay attention to the rhythm of financing. In general, the valuation and share price of early financing of enterprises are relatively low. As the company grows in size, the valuation and premium of the company will become higher and higher. The dilution effect of financing on the founder's equity will also have an overall solution of equity partnership

很大的递减效果。但是，资本对企业扩张的作用却是不言而喻的，而融资市场瞬息万变，因此创始人需仔细衡量和规划，明确在什么时间该融资，融多少，以此来维持公司稳健的资金流，同时又能兼顾与公司估值的合理平衡。

Great diminishing effect. However, the role of capital in the expansion of enterprises is self-evident, and the financing market is changing rapidly. Therefore, the founder needs to carefully measure and plan, clearly determine when and how much to finance, so as to maintain the company's stable capital flow, while taking into account the reasonable balance with the company's valuation.

当然这也需要创始人去争取尽可能多的投票权。投票权与股份份额并非--对应或不可分离，创始人可以通过上述方式争取控制其他股东的投票权，从而维持公司稳定的控制权。更多相关事项就来我们网站http://www.daoshangbao.com咨询到！

Of course, it also requires the founders to strive for as many voting rights as possible. The voting rights and share shares are not -- corresponding or inseparable. The founder can strive to control the voting rights of other shareholders through the above methods, so as to maintain the stable control of the company. Come to our website for more relevant matters http://www.daoshangbao.com Consult!