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    tions.

    3. Share split

    a. Implications of key thresholds: 5%, 10%, >25%, 50%, >50%, 75%
    b. Deadlock vs controlling stake vs negative control/ability to block
    c. "Ordinary", "Speci

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    You should consider a shareholders' agreement as a "pre-nuptial" agreement. You are trying to reach a consensus in advance of a possible breakdown in the relationship. 1 in 3 marriages fail and the failure rate for business is much higher. Negotiating with your business partners ought to be a lot easier than with your spouse as the "don't you love me" doesn't come into it!

    Here is a non-exhaustive list which you could use as a limited agenda for discussions between proposed or existing shareholders. This should be followed by detailed legal advice and then a written agreement between the parties.

    1. Alternatives: limited company, partnership or limited liability partnership etc

    Assuming you select a limited company:

    2. Purpose of venture. Business plan. Expectations.

    3. Share split

    a. Implications of key thresholds: 5%, 10%, >25%, 50%, >50%, 75%
    b. Deadlock vs controlling stake vs negative control/ability to block
    c. "Ordinary", "Specia

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    failure rate for business is much higher. Negotiating with your business partners ought to be a lot easier than with your spouse as the "don't you love me" doesn't come into it!

    Here is a non-exhaustive list which you could use as a limited agenda for discussions between proposed or existing shareholders. This should be followed by detailed legal advice and then a written agreement between the parties.

    1. Alternatives: limited company, partnership or limited liability partnership etc

    Assuming you select a limited company:

    2. Purpose of venture. Business plan. Expectations.

    3. Share split

    a. Implications of key thresholds: 5%, 10%, >25%, 50%, >50%, 75%
    b. Deadlock vs controlling stake vs negative control/ability to block
    c. "Ordinary", "Speci

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    xhaustive list which you could use as a limited agenda for discussions between proposed or existing shareholders. This should be followed by detailed legal advice and then a written agreement between the parties.

    1. Alternatives: limited company, partnership or limited liability partnership etc

    Assuming you select a limited company:

    2. Purpose of venture. Business plan. Expectations.

    3. Share split

    a. Implications of key thresholds: 5%, 10%, >25%, 50%, >50%, 75%
    b. Deadlock vs controlling stake vs negative control/ability to block
    c. "Ordinary", "Speci

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    n the parties.

    1. Alternatives: limited company, partnership or limited liability partnership etc

    Assuming you select a limited company:

    2. Purpose of venture. Business plan. Expectations.

    3. Share split

    a. Implications of key thresholds: 5%, 10%, >25%, 50%, >50%, 75%
    b. Deadlock vs controlling stake vs negative control/ability to block
    c. "Ordinary", "Speci

    Critical Change
    Change is critical to your success and happiness. I cringe to think what might happen in our lives if we don't allow ourselves the opportunity to make the appropriate changes. Sure, we can pretend that we don't need to change, that there is nothing wrong with our lives. Then, however, we soon forget the consequences of not taking action and making the changes we know we need to make. One story that illustrates this point well is from Samuel Whitman.
    tions.

    3. Share split

    a. Implications of key thresholds: 5%, 10%, >25%, 50%, >50%, 75%
    b. Deadlock vs controlling stake vs negative control/ability to block
    c. "Ordinary", "Special", "Written" resolutions
    d. class: ordinary, preferred, redeemable etc
    e. dilution (now and future)

    4. Directors

    a. Day-to-day management
    b. How many
    c. Right to appoint/remove
    d. Chairman; casting vote?
    e. Service agreements: salary level?

    5. Company name, company secretary, registered office, accountant/auditor

    6. Finance

    a. Share capital vs debt
    i. Allotment of new shares
    ii. Cash/non-cash
    iii. Director's loan
    iv. Second round
    b. Security? Debentures/charges. Personal guarantees. Indemnity to each other?
    c. Working capital
    d. Bank mandate: joint signatories?
    e. Dividend policy
    i. consider minimum % profits to be distributed or retained if no agreement
    ii. dividend versus salary

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