Corporate: Shareholder & Business Ownership Structures
Our expert Corporate Team are on hand to help you.Find A Solicitor
Whether you need advice on the best legal vehicle for your start up or want a review of your long established company documents our team is on hand to provide you with expert advice on which legal vehicle meets your current needs and future goals.
With the success of your business as their priority, the Corporate Team here at Storrar Cowdry can provide you with advice and guidance to enable you to make the right decisions for your company.
Some of the most common areas they are asked to assist with are:
- Company ownership structures /formation
- Shareholders’ Agreements and Partnership Agreements
The legal format in which your business is run is key to its success whether that be as a sole trader, partnership, LLP or incorporated company.
We are able to guide you through the process of an initial start up and advise on the best ownership structures in which your business can thrive and be protected from liability.
We are also able to provide reviews of current business ownership structures and ensure the business has the correct framework to meet its goals.
Shareholders’ Agreements and Partnership Agreements
Shareholders’ Agreements and Partnership Agreements are vital to the growth of your business.
These agreements govern how the internal arrangements of your business will work and if in place at the outset are likely to save you money and avoid disputes further down the line.
We are able to draft agreements specific to your business and can advise you on protecting your shareholding, financing of the business, liabilities of each individual and resolution of disputes.
Our Dedicated and Knowledgeable Solicitors
If you wish to discuss your situation further with an expert solicitor please don’t hesitate to get in touch.Make An Enquiry
Frequently Asked Questions
Do I need a shareholders’ / partnership agreement?
Whilst shareholders’ and partnership agreements are not a legal requirement we highly recommend having one where there are two or more shareholders/partners. These agreements contain agreements over how the business will be run, the obligations and expectations of each shareholder/partner, set out the split of profits, govern how and when shares can be transferred or new shares can be issued as well as provide for what will happen on the retirement or death. The agreements offer protection to all parties involved and often save time and money if there is a dispute in the future.
What is the difference between a Company and a Partnership?
A partnership is where two or more individuals/companies run a business with a view to making a profit. A partnership is not a ‘separate legal personality’ which means the partnership cannot own assets and the partners will be personally liable for the losses of the business, the partners are not required to do anything to set up a partnership. A limited company is a separate legal entity which is formed by individuals/other companies to operate a business. The company can hold assets in the company name and the liability of the shareholders is limited.
Do I need to set up a Limited Company?
A limited company can offer lots of advantages to run a business such as limited liability, assets and finances in the company name rather than holding/being responsible for them personally and can be more tax efficient than being a sole trader or a partnership. They are relatively straightforward to set up but also carry administration requirements, such as filing accounts.
Should I issue alphabet shares?
Alphabet shares are different classes of shares, such as ‘A’ shares, ‘B’ shares etc and are a way to give shareholders different rights. For example you may want to alter the amount of dividends to be paid or give individuals shares without voting rights.
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