The Ownership Structure

The Ownership Structure
Equity crowdfunding VS upstream and downstream incentive project investment
Note: Zero investment, big shares, make money quickly
30 million, 70%, make money quickly
mode
Reverse business model
Crowdfunding distribution
Cross-border integration model
Industry
Sales industry
Manufacture
Engineer
Equity = Boss Rules
Ownership Structure Model
Equity Transfer
Composition of equity
Type of shareholder
funds
Advance
Premium
Out
Agreed terms
Resources/Management
Advance
evaluation
Transform
Value cycle
time
2 years
Performance
1000000000
Gambling clause
Do it
Can't do
Retreat
Can't do it. . .
technology
consultant
Option pool
Constitution design
Protocol control
Concerted action agreement
Voting rights delegation agreement
Pure capital stocks ~ premium repurchase or exit
When the return reaches 2 times, the company can buy back
Mature bond
1 year 28%
3 years*24%
Only pay money but don’t contribute, agree on profit point to transfer shares to profit-making personnel
Gambling agreement
Overseas listing
AB shares/double-layer equity structure design
Three-tier equity structure design
Start-up companies
Governance control
2/3
66.67
Management control
51%
Prohibition of dilution in the same proportion
52%
1st listing venture capital appointment
10%
Do not accept the same proportional dilution
33.8%
25% public shares
33.15%
Net investment survey (leading venture capital)
Do not accept the same proportional dilution
Major meeting
1/3
33.34
One-vote veto
disagree
Off the company
The four core types of entrepreneurs
The first type, absolute holding type
67%
18%
15%
The first type, absolute holding type
The typical distribution method of this model is that the founders account for more than two-thirds, that is, 67% of the equity, the partners account for 18% of the equity, and 15% of the team’s equity is reserved; this model is suitable for the founders to invest the most money and have the most ability. Strong situation. Among shareholders, the absolute holding type is democratic in form, but in the end it is the boss who has the right to make a decision/veto.
The second, relatively holding type
51%
34%
15%
The second, relatively holding type
The typical distribution method of this model is that the founder holds 51% of the equity, the partners together account for 34% of the equity, and the employees reserve 15% of the equity. Under this model, except for a few things (such as capital increase, dissolution, update of the charter, etc.) that require collective decision-making, most of the other things can be decided by the boss alone.
The third type, not holding type
34%
51%
15%
The third type, not holding type
The typical distribution method of this model is that the founder holds 34% of the equity, the partner team holds 51% of the equity, and the incentive equity accounts for 15%. This model is mainly applicable to the situation where the abilities of the partner team complement each other, everyone is strong, and the boss only has a strategic comparative advantage, so the equity of the basic partners is relatively even.
There are several features in these three models:
First of all, investors’ shares are not included.
There is a big problem with reserving investor shares. Assuming that the founder reserves 20% of the equity to investors behind, and the investor buys shares from him, this is called "buying old stocks." In terms of legal relations, this is the relationship between the investor and the entrepreneur's personal shares, not the relationship with the company. This money cannot be entered into the company's account, and becomes the founder's personal realization, not company financing. Moreover, once the founder sells old stocks and investors come in at a high premium, the founder immediately faces a large tax.
Therefore, it is not recommended to reserve shares for investors at the beginning. You can dilute it together after you come in.
So why is it recommended to reserve incentive shares?
The main reason is to act as an adjustment mechanism. For example, when many founders first started their own businesses, they didn't have much choice in finding partners, and they did it together if they thought it was right. But after a while, it was discovered that this person was not capable. At this time, the reserved part could come forward to solve this problem.
If the early equity distribution is unreasonable, then part of it can be adjusted to the old stocks held on behalf of the company. If there are newcomers involved (whether it is an executive, a partner or an employee), it can also be handled by reserving equity.
Description
2-person partnership, one of whom is the absolute boss, greater than 67%
3-person partnership, the major shareholder is greater than the sum of 2 shareholders
Multi-person partnership, the major shareholder plus the smallest shareholder is greater than the sum of the others
weight
Market research
Financing
Product development, production
Advertising marketing
light
Xiaomi
market survey
Community marketing
Custom data requirements
Product development
Controllable production
Logistics
Process changes to earn cash flow
Speech
Lifetime consultant
3 conditions
Agree with me, see sincerity
Honesty wins the world
Entrepreneurs must have a sense of social security responsibility
Company: It is a holding company and cannot be transferred to a single legal person
Costs involved
Stamp duty
Income tax 20%
Accounting fee 3,000
The documents involved
Income Statement\Capital Verification Report
Shareholder ID card and signature
Receipt of equity transfer funds
Chapter, certificate, ID card
The cycle is about 45 days
Business change
New constitution agreement
Tax shareholder change
Two-person partnership, transfer to new
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