Tag: Partnerships

What is a Share Sales Agreement? A Share Sale or Sale of Shares Agreement is a legal contract that outlines the terms and conditions under which shares of a company are sold and transferred from one party (the Vendor) to another (the Purchaser). This agreement is essential in ensuring that all aspects of the sale […]

The right contracts protect you and your business when the unforeseen occurs. If Jodie had the right contract templates, she could have avoided so many issues that compromised her business and her livelihood. Imagine this… You step out of the house and glance up at the sky. There’s not a cloud in sight and all […]

If you own and operate a business with others, have you considered what might happen if one of your partners:– A Shareholder Buy Sell Agreement allows you to stipulate what would happen upon certain trigger events, allowing you to plan for the unexpected and safeguarding your companies future. is unable to work for a long […]

Starting a business with others is often an exciting time, with both parties working hard to establish a business that they passionately believe in. While it may be rewarding to work for yourself and nurture your own business, it is important not to overlook the more mundane and practical aspects involved in owning and operating […]

Earlier this month I had a call from Steve.  He had been speaking with his friend (Jodie) whose business partner had died recently in a motor accident, leaving her and the business in a tricky situation. Jodie and her business partner, Claire, were building a successful fashion label. Claire looked after the finances and marketing, […]

Quick answer: A business partnership agreement records how 2 or more partners share profits, roles, and decision-making, and how they’ll handle an exit. Partners face joint and several liability, meaning creditors can pursue any partner’s personal assets for the whole debt. A written agreement covering buy-out terms and dispute resolution reduces this risk. A partnership […]

What is a Shareholders Agreement? Shareholder Agreements are referred to as constitutional documents. That is, they constitute and document the relationship between the parties entering a business endeavour together. What part do finances play in a shareholders agreement? Before entering into a shareholders’ agreement, the parties should consult with their accountant or business adviser to […]

Earlier this month I had a call from Steve.  He had been speaking with his friend (Jodie) whose business partner had died recently in a motor accident, leaving her and the business in a tricky situation. Jodie and her business partner, Claire, were building a successful fashion label. Claire looked after the finances and marketing, […]

Joint Ventures or JV’s are an increasingly popular way for people to expand their business and take advantage of new opportunities. A joint venture is a strategic alliance between two or more individuals or entities to engage in a specific project or undertaking. It is different to a partnership because partnerships generally entail a continuing, […]

Quick answer: Exit strategy clauses give parties a planned way out of a contract instead of relying on common law, which only allows termination for repudiation or breach of an essential term. Common mechanisms include first right of refusal, put and call options at a set price, winddown triggers tied to unprofitability, and life insurance […]