Shareholders Unit Holders and Partnership Agreements
Sometimes it's hard enough running your business or venture without complications between shareholders, unit holders or your partners.
We recommend that if you are in business or in a venture with one of these other parties, that at the very outside you set out the terms of the arrangement, the obligations, rights and remedies of each party in a formal document.
That way, in the event of any disagreement, divorce, illness or death, there is a formal plan in place to guide you and to fairly protect your interests. Many businesses have been struck down where parties are in dispute and lock heads, which can lead to ill feelings, mistrust, loss of friendships, dissolution of partnerships, transfer and sale of shares and even expensive litigation. Know which seat you sit on from the outset. Have a blueprint in place to protect your interests, which can be changed by agreement when it needs to.