Net Lawman Launches Upgraded Range of Shareholders Agreements

Thanks to the Recent Upgrade, the Documents are Now Easier than Ever for Small Business Owners to Put in Place without
Having to Hire an Expensive Solicitor

SUFFOLK, UK / ACCESSWIRE / February 20, 2017 / Net Lawman, the legal services provider, has just finished upgrading its range of shareholders agreements. As a company spokesperson noted, the documents have been redrawn in order to make it easier for small company owners to put in place an agreement without the need to hire a high street solicitor at great cost.

To learn more about shareholders agreements and check out
the newly-updated documents, please visit http://www.netlawman.co.uk/g/shareholder-documents.

The product range of shareholders agreements now contains four templates in Microsoft Word format that can be downloaded, and edited offline. Previously there were six, the spokesperson said.

“The first is a new document for a business whose requirements are straightforward,” the spokesperson said, adding that it contains all of the provisions that can be found in this type of legal document, less those where one or more of the owners has funded the company through a loan or through institutional level equity financing.

“The second two rationalise five of the previous documents by combining their features. These are for owners of a newly incorporated company, or for an existing company where the shareholders do not yet have a document in place, or where the ownership and decision-making framework is being restructured—for example, on the exit of one of the founders,” the spokesperson said, noting that the difference between the two is slight.

These documents include provisions that rebalance control to members in proportions other than those in which they hold equity voting rights. They also provide complex options that most other similar products available on the Internet do not provide that have been included to appeal to companies that will seek external funding at some point in the future. These include drag-along and tag-along rights, rights of first refusal and multiple options for valuation methodologies.

The fourth document is unchanged, the spokesperson noted. It regulates a joint venture deal structured through a company between two other businesses.

Making sure these shareholders agreements are in place is an important step for business owners to take, the spokesperson noted.

“Shareholders of many small companies fail to agree how important strategic decisions concerning their business will be made; this can be a significant cause of problems later down the line,” the spokesperson said.

“It is inevitable that as a business experiences success or setbacks, organisational goals will change from the original vision. Having a good agreement in place allows the owners to respond to changes and recognise the contributions that each brings to the company, whether in time, experience, funding, or assets.”

These documents allow shareholders to protect their investment in their company without the financial or time costs that using a high street solicitor can entail, the spokesperson noted.

In addition to the updated documents, Net Lawman also now offers a web-based drafting service for shareholder agreements. By answering an online questionnaire about the structure of the company, how decisions will be made and what will happen in unexpected situations, the software tailors the document so that it corresponds to the answers given. This service can be faster than editing a template.

Regardless of how the document is created, Net Lawman offers a review service to ensure that an agreement produced suits the circumstances of the owners. Because Net Lawman’s lawyers are familiar with the templates, they can check a document comparatively faster than a lawyer who is not, allowing Net Lawman to offer this as a fixed fee service.

About Net Lawman:

Net Lawman was a pioneer of selling legal documents on the Internet, initially as downloaded templates and later additionally through document automation software. Based in Suffolk, it now operates in 8 countries around the world.Net Lawman aims to make the law more accessible by removing the barriers that location, financial circumstances and legal knowledge present to being able to live or operate a business with a high level of legal protection. It does not claim to replace the need for solicitors, but rather provides a service that enables its customers to manage many aspects of business and personal life that traditionally in which a solicitor might have been involved. For more information, please visit http://www.netlawman.co.uk.

Contact:

Thomas Taylor

thomas@netlawman.co.uk

0044 1284 848 275

SOURCE: Net Lawman

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