In most countries, registration of a shareholders` agreement is not required for it to be effective. In fact, it is the perceived greater flexibility of contract law compared to corporate law that provides much of the rationale for shareholder agreements. The agreement contains sections that define the fair and legitimate price of shares (especially when they are sold). It also allows shareholders to make decisions about which external parties can become future shareholders and offers protection for minority positions. The shareholders` agreement aims to ensure that shareholders are treated fairly and that their rights are protected. Many entrepreneurs who start startups will want to write a shareholders` agreement for the first parties. The aim is to ensure that the original intentions of the parties are clarified; When disputes arise as the business matures and changes, a written agreement can help resolve issues by serving as a point of reference. Entrepreneurs may also want to include who can be a shareholder, which happens when a shareholder is no longer able to actively own their shares (for example. B, becomes disabled, dies, resigns or is dismissed) and who is eligible to be a member of the Board of Directors. A shareholders` agreement (sometimes referred to as a shareholder agreement in the United States) (SHA) is an agreement between the shareholders or members of a corporation. In practice, it is analogous to a partnership agreement. It can be said that some jurisdictions do not correctly define the concept of shareholders` agreement, but the specific consequences of these agreements have been defined so far. Shareholder approval has advantages; To be precise, this helps the business unit maintain the absence of advertising and maintain confidentiality.
Nevertheless, there are also some drawbacks to consider, such as.B. the limited effect on third parties (especially assignees and share buyers) and changing the specified items can be time-consuming. As with all shareholder agreements, an agreement for a start-up often includes the following sections: There are also certain risks that may be associated with the introduction of a shareholders` agreement in certain countries. However, this flexibility can lead to conflicts between a shareholders` agreement and a company`s constitutional documents. .