At present, about the nature of the enterprise. Western economists have different views. There is also some debate. Some western economists analyze the nature of the enterprise mainly from the perspective of transaction costs that coase emphasizes. 3. The inseparability of shares, that is, shares are the most basic unit of the company's capital, and each share must not be divided; There are 3, 4, 5, 6, 8, 10 and 12 cylinders of the engine. The arrangement of cylinder mainly includes direct column, V shape, W shape, etc. Because China's mainstream economics mechanical property right understanding into property of power based on stock, so, in the name of the Chinese norm of the reform of property right will be the eye looks at on the stock of state-owned assets, simple and ridiculous "privatisation" scheme, clear property rights is approximate to "privatization". It was a misreading of coase, a misreading of alchin and even an insult to them. The precise description of property rights should be the right to clarify individual pursuit of wealth.