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Why is a Shareholders Agreement important?
A Shareholders Agreement is an important contract between owners of your company. It governs how decisions are made, what happens when a shareholder wants to leave the company, how disputes are handled and other important matters.
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Shareholders are the parties that own shares in a company, and as such, they have ownership (or equity) in the company. In this situation, it’s important to have a Shareholders Agreement that records all the key details of the arrangement with these shareholders.
A Shareholders Agreement is the legally binding contract between all shareholders. This document lays down the ground rules for a company’s shareholders, what happens when a shareholder wants to leave the company, how disputes are handled and other important matters. Even if you’re in business with friends or family, having ground rules like these is always healthy for the relationship and the business, especially as your business grows and the stakes become higher.
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If you’re setting up a company with more than one shareholder, you need a Shareholders Agreement. A Shareholders Agreement provides clarity for future investors to understand the structure of the business and responsibilities that apply to shareholders. It is key to getting new investments as well.
A Shareholders Agreement reduces the potential for conflict between shareholders and helps the company run smoothly and efficiently, with minimal legal headaches.
A Shareholders Agreement will usually cover a range of areas relevant to the overall operation and ownership of the company, such as:
A Shareholders agreement is much more complex than it seems, and a lawyer would be the best to help you get it right from the get go.
All businesses are unique, and a template wouldn’t be specific to the needs of your business. The Shareholder Agreement needs to be tailored to the particular needs of your company. Our lawyers can provide advice about issues relevant to your business, and draft/review your Shareholder Agreement.
This package includes everything you need to set up your company’s Shareholder Agreement, starting from $1200 + GST. We will draft a Shareholders Agreement in accordance with the requirements of your business, provide an ASIC company search for 1 company (if required) , phone consultations with a Sprintlaw lawyer and a complimentary amendment to the final draft we provide you.
Disclaimer: please note that addition fees apply if you request several rounds of changes (including as a result of negotiations between parties/shareholders).
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