Legal insight: Family businesses and shareholder agreements

Whenever a group of individuals decide to set up a new business, we would always suggest they enter into a shareholders' agreement ("SHA") to agree, in advance, certain major issues regarding the management of the business. Think of it as a "pre-nup" agreement, and it's best to agree on the major matters at the outset while everyone is getting on with each other. Then if down the line there is a falling out, these matters have been pre-agreed.  An SHA is just as important (if not more so) where a married couple have set up a business together, as the couple will be investing their cas...