Companies in the form of corporations
When you run a business together as I / S, IVS, ApS or A / S, you must be prepared for the collaboration dismantle, regardless of whether you are siblings or childhood friends.
Therefore, you can avoid a lot of expenses and time-consuming hassle by entering a contract that regulates what is to happen, if one day the collaboration doesn’t work and you have to find out who will run the business.
In the majority of agreements, a “deadlock” provision will be beneficial, so that you get a relatively quick clarification of who will continue with the company. If the business has grown, there may be employees whose finances may be affected when the owners suddenly can’t work together.
The solutions can be called everything from an ownership agreement to cooperation agreement etc. It does not matter what you call it, the most important thing is that the agreement states who proceeds with the company and how the payment is calculated and paid to the leaving party.
If it is in the event of death, one should also have an agreement that ensures that the business can be carried on and that the other owner(s) don’t just lose the business, for instance if part of the deceased has to be settled in a way where one can’t manage to raise the money or that an heir suddenly forces himself into the circle of owners against the wishes of the other owner.
Let us help you so that your company can continue growing.
Contact the law firm for further agreement.