Terms and Conditions – Standard terms are the legal basis on which you are willing to do business with your potential customers. The written terms of sale, whether or not you own a website, ensure the security of the agreement between the parties and form the basis of a contract between you and your client, in the absence of a custom contract. You also help minimize the cause of litigation by clarifying your company`s position on the following topics: A partnership contract involves two or more people who are considering creating a partnership (not a company with a share of shares or guarantees). Sometimes referred to as a partnership contract, status or foundation contract, the purpose of a partnership agreement is to provide information on how partners intend to manage the transaction and share profits, assets and costs, and to define each partner`s responsibilities and contributions. Regardless of the level of trust between the co-founders, an agreement should be reached from the outset. Where there are multiple classes of shares, multiple shareholders, share issues or transfers, the appendices of the document should be supplemented by relevant information on equity prior to the agreement, issues and/or potential transfers and equity capital in accordance with the agreement. Share sale: In the absence of a shareholders` pact, a shareholder can sell his shares to anyone, including a competing company. A shareholder pact may give shareholders the right to refuse if shareholders wish to sell your shares. If no one makes use of this right, the shares may then be offered to third parties, but only to those approved by the shareholders. A formula for calculating the sale price of the shares may also be included in a shareholders` pact.
This could be another area of conflict and easily resolved if an evaluation formula is already in place. Divorce: Will your shares be automatically transferred to an ex-spouse if you are divorced? In the absence of a shareholders` pact, this could be a very real problem and the remaining shareholders could stay with a shareholder who does not have the best interests of the company at heart.