Should you have a Shareholders Agreement?
December 22, 2020
What happens when a business partner wants to leave the business? What if there’s a dispute? If there’s no contract in place between business partners and, therefore, no mechanism as to how you buy that partner out, or settle any disputes, then what do you do? This will result in lengthy and costly negotiations, resulting in unsatisfactory outcomes for all concerned. As a result, the business suffers and may even close because of the failure to reach an agreement.
When running a business, you’ll undoubtedly be busy dealing with day to day operational requirements. Therefore, you can easily forget to put a contract in place detailing who owns the business, as well as the terms on which you work together as owners.
We can draft shareholder and partnership agreements for you. Even if you’ve been running your business for many years without them, you can still benefit from putting an agreement in place now. For that reason, we strongly advise you to do so.
Call Jennifer White now on 020 8313 1300 to discuss your options. Additionally, find more of the latest Marsons news and info here, and be sure to follow our social media. Find us on Facebook, Twitter and LinkedIn.
The information contained in this article is intended for general guidance only. It provides useful information but it is not a substitute for obtaining legal advice as the articles do not take into account specific circumstances. So do please Contact US for legal advice on the issues raised.