Shareholders agreement for a new company
It is a type of contract which is used when two or more people are in the process of founding a company (or start-up) wherein to pool resources, endeavours and interests and to share the profits that may be obtained in the future. In this regard, this contract model is prior or, in either event, simultaneous, to the incorporation of the company that is founded, which may adopt different formulas: private limited liability company, limited liability company, worker-owned limited company, association etc. Contingent on the description of the corporate purpose and the type of activities that the new company shall undertake, the founding Shareholders convene on the most important clauses for the operation of the company such as appointment of administrators, exclusivity and non-competition, permanence, confidentiality etc.; likewise, the admission of new Shareholders and the sale of the equity shareholdings of the founding Shareholders are governed. It is likewise stated that the clauses of this agreement must be taken into account and, where appropriate, prevail over the Articles of Association of the company that is incorporated. Model of Shareholders Agreement for a New Company.