When it comes to starting a business, everything you do at the beginning will affect how your company is managed and run on a day-to-day basis. Having a solid shareholder agreement in place from the start can be a way for you and your partners to dictate the details of everyday operations.
Why Your Business Needs a Shareholder Agreement or By-Laws
Having an operating agreement or shareholder agreement (commonly called “corporate by-laws”) drafted by one of our business lawyers can set guidelines for how to proceed with everyday business. One of these contracts can also:
- Legally define what your business entails
- Set parameters for how long the company will be in business
- Provide enforceable rules for owners leaving the business
- Provide for parameters on sale of interests in the business
- Set legally-binding guidelines for what happens after an owner dies, or gets divorced
Having these binding agreements at the inception of your business will not only allow roles within the company to be clearly defined, it will also guide how any future disputes will be handled. Particularly, having an agreement can save money in the event of a Business Break-Up. Save your time and money by having an enforceable partnership agreement, operating agreement or shareholder agreement put into place with the help of a business lawyer from Business Law Southwest, LLC.
What To Do If You Don’t Have a Shareholder Contract Already in Place
Although disputes are easier to resolve when there is an existing shareholder contract in place, you still have options if you do not have one. Without a contract agreement between partners or shareholders, state law dictates what you can and cannot do. A business lawyer from Business Law Southwest, LLC can help you navigate through the legal issues and advise you on the best course of action. We can help you follow the law while protecting your interests! Contact us today.
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