Legal Question of The Week 05/10/2018
I run a family business, do you think my brother & I need a formal agreement in case we fall out?
We recommend that in all circumstances where there is more than one shareholder in a company then you have a Shareholders Agreement. We recommend this even if you are close family members and never think that you will have an argument. We find it very difficult to unwind situations where there is no Shareholders Agreement and people have then fallen out. If you don’t have a company then we suggest that either you do use a company or you have a Partnership Deed in place.
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