Importance Of Hiring An Auckland Company Lawyer For Shareholder Agreements
If you are planning to establish a business with a few partners, you need to have a shareholder agreement in place. In simple terms, it is a legal document that defines the rules of the partnership. It is one of the best ways to avoid any potential issues down the line as everything is there in writing in this agreement. It clearly defines the rules for the shareholders as well as actions that are required to be taken. There are a number of things that need to be included in the agreement such as the name of the shareholders, the roles and responsibilities, the type of earnings to be given as dividends and crucially, how shares may be disposed of if one partner wants to liquidate their holdings. It is also important to mention here that all the shareholders are required to sign the agreement in order for it to be effective and legally binding for everyone involved in the partnership. Given the complexity of these issues, you need to talk to an Auckland company lawyer for Shareholder Agreements.
If you search online for Auckland company lawyer for Shareholder Agreements, you will come across numerous websites that provide templates for you to make a shareholder agreement. However, these do not allow for your own particular nuances which is one of the main reasons most people prefer using a company lawyer for shareholder agreements. There are several advantages of hiring the services of a competent lawyer for these agreements. One of the biggest advantages is that they have experience in preparing and filing Shareholder Agreements.
Also, every business is different. The online templates might apply to a few situations but it is better to create an agreement that applies to your particular business. A lawyer specialising in these services will not only help you draft the right agreement but they will also make you aware of the potential pitfalls of certain legal language that is found in these online templates.
As far as finding such a lawyer is concerned, you should ask for referrals from your business associates or maybe members of your local business networking groups. You could also use online search to discover an Auckland shareholder agreement lawyer.
Once you have found a few lawyers, make sure they are reputable and have the required experience. Search for their name online in order to get more information about them and to check customer reviews on various review websites and other platforms. This will make sure that you are working with a lawyer who is aware of the importance of this type of agreement and the legal terms that should be used in this agreement to ensure there are absolutely no potential problems in the future.
You will obviously have to pay to use the services of a company lawyer specializing in shareholder agreements but their services do not cost much. One of the biggest mistakes made by people is that they download a template from Internet and get it signed by all the shareholders even when the template is not really designed for that particular business. They do that in order to save some money but when a problem arises in the future, they suddenly find that there are problems with the agreement and the roles and responsibilities of the shareholders are not clearly defined in the agreement that is based on the online template they downloaded for free. So, do not make that mistake and hire the services of an experienced lawyer for your shareholders agreement.
One of Auckland’s most experienced law firms dealing with Shareholder Agreements is McVeagh Fleming. Click the link to visit their site.