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Shareholder agreement

  • 18-05-2010 10:37am
    #1
    Kumejima
    Registered Users, Registered Users 2 Posts: 237 ✭✭


    I'm setting up a new company out of my existing business. Bringing on board an investor and need to draw up one of these.
    Anybody out there who has gone through this process and could give me an idea of the potential costs issues and pitfalls?
    Failing that a website or book that anyone can recommend?
    Also if there was anyone who has dealt with the specialist firms in this area I'd like to hear from your experiences


Comments

  • #2
    Southsider1
    Closed Accounts Posts: 674 ✭✭✭Southsider1


    Do yourself a favour and get a good corporate lawyer to do it. It's well worth it for your own peace of mind.


  • #3
    TheCostumeShop.ie: Ronan
    Company Representative Posts: 1,740 ✭✭✭TheCostumeShop.ie: Ronan


    Been through this several times before, get a lawyer who specializes and has tonnes of experience drawing shareholder agreements up. It'll be a bit costly at first but will save you unless amounts of pain later on by covering all what if scenarios you'd never even think of. Really there is no point in trying to draw this up yourself unless you're a qualified and practiced lawyer, because the other partner will have their lawyer go over it and make sure all the cards are in their favour. Even the hint that your thinking about doing it any other way will send an investor running.


  • #4
    Kumejima
    Registered Users, Registered Users 2 Posts: 237 ✭✭Kumejima


    Thanks for the advice but I hadn't planned to write it out myself in crayon, I would like to know though if anyone has dealt with the specialist company shops, or lawyers who deal with this stuff. Can someone recommend a specialist in this area? Roughly how much am I looking at?


  • #5
    TheCostumeShop.ie: Ronan
    Company Representative Posts: 1,740 ✭✭✭TheCostumeShop.ie: Ronan


    That really comes down to the project specifics, big firms like Arthur Cox are incredible at this as they have encountered every possible twist and turn before. The great thing about the recession is they will take on smaller clients now, but there's a back ground check to make sure there's no conflicts in representing you etc. So it can be pricey.

    Often it's good to deal with a local firm as you can meet and see their facial reaction which for me I find helps, be each to their own on that subject. I'd estimate 2k -5k to get a decent agreement in place, depending how much to and fro goes on.


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