Shareholder and Partnership Agreements
If you are in business with another person or persons unexpected events like death, critical illness or dispute can devastate the proper running of the business.
Useful “future proofing” can be obtained against such events by preparing a shareholders’ or partnership agreement at the earliest possibility.
Common provisions included within such agreements are:-
- Recording the financial entitlements and obligations of each party. So for instance what financial commitment is each party to make to the business and what can each take out from the business?
- How are decisions to be taken within the business? Do all decisions require unanimity (irrespective of the size of share owned by the parties) or should some decisions simply be taken by majority rule?
- What is to happen if there is deadlock in the business i.e. decisions cannot be taken because no casting vote applies?
- What happens to a share in the business in the vent of death, critical illness, bankruptcy and desire to retire?
- How is a deceased or departing party’s share valued and how are they or their estate to be paid for their share?
- Non-compete provisions i.e. clauses which stop a departing party competing against the business with a view to taking clients and orders away.
Do you offer fixed fees for such agreements?
Yes we do!
How long will the agreement take to be prepared?
On average a document can be produced with 2 to 3 weeks after full instructions have been received but this can be quicker in cases of need.
Do you offer an initial free consultation to discuss a new agreement?
Yes we do!« Go backContact us »