（一）一元股权架构

（1） Unified equity structure

直接按各自出资分割股权、分享股权决策权及分红权，这是简单、较传统的股权架构类型。采用该种股权架构，看似简单地解决了股权分配的难题，但由于股东之间的股权比例只能根据其出资来确定，对于初创企业的创始人而言，其对企业控制权的掌握也缺少了自主性和灵活性，甚至很容易因企业融资或因他人恶意争夺企业控制权，或是其他的意外变故而丧失了对企业的控制。

Directly dividing equity, sharing equity decision-making and dividend rights based on individual contributions is a simple and more traditional type of equity structure. Adopting this equity structure may seem like a simple solution to the problem of equity distribution, but due to the fact that the proportion of equity among shareholders can only be determined based on their contributions, the founder of a startup lacks autonomy and flexibility in controlling the enterprise. It is even easy to lose control of the enterprise due to financing, malicious competition for control by others, or other unexpected changes.

（二）二元股权架构

（2） Dual equity structure

比一元股权架构更灵活一些的，还有二元股权架构。二元股权架构在国外非常普遍，这种股权结构能帮助创始人和大股东在公司上市后仍能保持对公司的控制权。二元股权架构的关键在于想好分别赋予两类股多少表决权，以及两类股分别通过怎样的方式授予公司的股东。我国上市公司尚不允许采取这种二元股权架构，但是《公司法》第四十二条规定：“股东会会议由股东按照出资比例行使表决权；但是，公司章程另有规定的除外。”实际上是为股东通过章程设定二元股权架构安排预留了空间。

There is also a binary equity structure that is more flexible than a single equity structure. The dual equity structure is very common abroad, which can help founders and major shareholders maintain control over the company even after it goes public. The key to a dual equity structure is to figure out how much voting rights should be granted to each of the two types of shares, and how they should be granted to the shareholders of the company. Listed companies in our country are not yet allowed to adopt this dual equity structure, but Article 42 of the Company Law stipulates that "shareholders shall exercise their voting rights at shareholder meetings in proportion to their capital contributions; except as otherwise provided in the company's articles of association." In fact, it reserves space for shareholders to establish a dual equity structure arrangement through the articles of association.

（三）多元股权架构

（3） Diversified equity structure

在二元股权架构的基础上，将公司的股东分为多个类型，创始人、合伙人、员工、投资人，资源股东等等。针对他们的权利进行整体性安排，以实现企业维护创始人控制权、凝聚合伙人团队、让员工分享公司财富、促进投资者进入等目标。相对于前两种股权架构来说，多元架构能充分考虑企业各类主体间的利益关系，以及各类主体对企业本身的贡献等多方因素，来指导股权的划分思路，因此在此种架构下划分股权能有利于公司整体的快速发展，而不是个别股东利益大化，同时也符合企业治理的需求。

On the basis of the binary equity structure, the company's shareholders are divided into multiple types, including founders, partners, employees, investors, resource shareholders, and so on. Make overall arrangements for their rights to achieve the goals of maintaining founder control, consolidating partner teams, allowing employees to share company wealth, and promoting investor participation. Compared to the first two types of equity structures, a diversified structure can fully consider the interests of various entities in the enterprise, as well as the contributions of various entities to the enterprise itself, and guide the division of equity ideas. Therefore, dividing equity under this structure can be conducive to the rapid development of the company as a whole, rather than maximizing the interests of individual shareholders, and also meet the needs of corporate governance.

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