If you are running a limited company, or intend to establish one, you should consider drawing up a shareholders agreement.
Such an agreement can be a brief or a comprehensive document and can include a number of different issues such as, for example, voting rights, pre-emption rights on share transfers, holiday entitlements for those actually working within the business, specific areas of responsibility for individuals, and indeed, anything else which the shareholders desire to see recorded and agreed.
The great advantage of having a shareholders agreement is that it can predetermine what otherwise might become contentious future issues by recording, in writing, what was originally agreed rather than leaving different individuals to recall what they thought was "understood".
For further information please contact Robert Beattie, Gillian Jones or Mark Roome.