A shareholder agreement is a contract entered into between the shareholders of a privately held Ontario or Canadian corporation that sets out additional rights and remedies not included in the documents of incorporation such as the corporation’s by-laws or articles.
Whereas the articles and bylaws of a corporation address basic governance of the corporation, shareholder agreements go beyond the basics to address important issues such as share liquidity, control and voting rights, restrictions on the transfer of shares, and protections for minority shareholders.
$2499.99 + HST.
Often business partners have an informal agreement between them regarding how the business should be run at a corporate level. A properly drafted shareholder agreement provides written evidence of the parties’ intentions and legally binding terms the parties must abide by.
Most disputes between the shareholders of a closely held corporation occur when one (or some) of the shareholders want to exit the venture.
Because the shares of a privately held corporations often have a limited secondary market, it is not uncommon for costly legal disputes to occur when one shareholder wants to sell their shares. This is one of the reasons why it is important to have a detailed shareholder agreement drafted to protect the existing and remaining shareholders including provisions such as drag-along rights and tag-along rights, rights of first refusal, veto rights, and deadlock or buy-sell provisions.
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Whether incorporated federally under the Canada Business Corporations Act or Provincially under the Ontario Business Corporations Act, shareholders to a
A website’s terms of service sometimes also referred to as website conditions of use (or “TOS” for short) is a
The short answer is no. But having a dedicated Ontario small business lawyer involved from the start has numerous advantages.
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