Shareholders’ or Partnership Agreement
The essential tool for safeguarding your business interests.
As a business owner, your business can be your greatest asset and your greatest responsibility. So, keeping your business interests safe, for the long-term benefit of yourself and your family, is a big priority.
Running a business with a colleague, either as shareholders in a limited company, or as partners, has its own challenges. Lots of people go into business with colleagues they know, like and trust. But the pressures of running a business can strain even the strongest friendships to breaking point. And what if something happens to one of you? Will that spell the end of the business? And what will your family and dependents do then?
A Shareholders Agreement or Partnership Agreement is an essential tool, that provides you and your business partner with a vital safety net. It’s one of the Four Pillars of Wisdom for a resilient business.
How it Works
With a Shareholders Agreement or Partnership Agreement in place, you can: -
- Define how yourbusiness is organised;
- Agree what decisions you can make individually and what decisions are so important that you must make them together;
- Insist on accounts and financial projections being maintained, to safeguard the financial health of the business;
- Create a mechanism for valuing, transferring and selling your shares, either to each other or to someone else, if one or both of you decides to sell up, or one of you buys the other out;
- Decide what will happen to the company if one of you dies, or is seriously ill or injured;
- Agree how the business can be split up in an orderly and non-destructive manner if you fall out;
- Create a procedure for issuing additional shares if new business partners join you;
- Provide yourselves additional protection if you give personal guarantees on your business borrowings;
- Decide on a cost-effective mechanism for resolving disagreements
What It Achieves
This gives you the peace of mind of knowing that you have thought about the big risks that can affect your business and your working relationship, and have put sensible protections in place to manage those risks.
From an estate planning perspective, it gives your colleagues the option to buy out your share of the business for a fair market price if something happens to you. This can be backed up with a suitable insurance policy that provides the purchase price for your share should disaster strike. That way, the business can continue to trade uninterrupted, while you and your family have the security of having your capital in the business converted into cash.
A Shareholders Agreement or Partnership Agreement costs £875.
Family Trust Deed
How to put a ring of steel around your family's assets.Read more...
Family Trust Will
Preserving your Assets for your FamilyRead more...
Memorandum of Wishes
Memorandum of wishesRead more...
Deed of Severance
The way you co-own your home with your other half really matters.Read more...
Advance Directive, or Living Will
Staying in control of your life choicesRead more...
Storing your Will
Keeping your Will and Other Documents Safe and ValidRead more...
Updating your Will
Your Will is only fit for its purpose if it's up to date.Read more...
Lasting Power of Attorney for Health and Welfare
It's your life - make sure it's you who always decidesRead more...
Lasting Power of Attorney for Property and Financial Affairs
Lasting Power of Attorney for Property and Financial Affairs - Planning Forward to Stay in ControlRead more...
Easy access to legal help at controlled cost.Read more...
Traditional Wills are a straightforward, cost-effective way forwardRead more...
Traditional Estate Plan
An efficient way to protect yourself in later life and protect your legacyRead more...
Traditional Plus Estate Plan
Taking Care of your legacy, your lifestyle and your finances with our Traditional Plus Estate PlanRead more...
Family Trust Estate Plan
Protecting your assets in every eventuality.Read more...
Family Trust Plus Estate Plan
A robust way to protect yourself and your family, whatever may happen..Read more...
Family Trust Extra Estate Plan
Every eventuality taken care ofRead more...
Subscribe for Updates & Information
"As a single person with no dependants I wanted to ensure that in the event of my death my assets would be given to the people that I wanted - Gina sorted it simply and in plain english - that’s a real comfort. Thanks!!"