Working with a partner that has complementary talent and skills may contribute to the success of a venture. But nothing in life is guaranteed. The business environment will change. People change. A few years from now partners may have disagreements over how the business should be run or one of them may want to leave the company. If the shareholders don’t have a process agreed in advance on how to deal with these serious issues, and others, each of them may end up with nothing.
With this in mind it is important to have a written agreement drawn up by a lawyer that covers areas including compensation, exit clauses, and roles and responsibilities.
The idea behind Slotine’s Simplified Shareholders’ Agreement, is to offer a simple agreement, which is drafted for entrepreneurs at an early stage of their venture.
The fixed fee for the Simplified Shareholders’ Agreement includes two hours meeting with all shareholders to understand the background and explain the various clauses as well as answer any questions they may have. Some simple or formal amendments may also be included, up to two hours additional work. Any other additional requirement shall be invoiced on a time spent basis, at the rates of the team members involved at the time.