Often, however, it doesn’t take too long for those [...]]]> You’ve done it! You’ve finally come up with *the idea* that will let you escape your mundane nine-to-five existence and be your own boss. Your best mate has agreed to help you get started and together you’ve incorporated a brand new company. These are exciting times.

Often, however, it doesn’t take too long for those rose coloured glasses to come off.

Business relationships – like any relationship – are often fraught with as much stress, financial worries and conflicting priorities as they are endowed with joy. Whether it’s a new baby, a marriage breakdown, illness or financial difficulties – attitudes to risk and definitions of success generally change over time. And it’s then that difficulties arise.

We generally advise our clients to negotiate a Shareholders Agreement as soon as possible after the company is incorporated. In our experience, shareholders are often most closely aligned early on in the business lifecycle. Once a dispute arises, it’s usually too late.

A Shareholders Agreement is an agreement governing the relationship between shareholders in a company – dealing with when and how shares can and must be transferred and how the company will be managed.

A Shareholder’s agreement sits side-by-side with the company’s constitution. While the constitution itself may cover some similar ground, it usually only addresses the bare mechanics and not big picture issues such as exit strategies, board appointments and how key decisions are made.

If a disagreement arises over these fundamental issues, and you have not laid down the ground rules for moving forward, it’s quite possible that by the time you sort it out in the Courts there will be nothing left to argue over.

If you haven’t already agreed a shareholders agreement – I strongly suggest that you do. Whether your idea is a hit or a flop, you will be glad you went to the trouble.

For more information please contact one of our experienced commercial solicitors.

The Minister for Immigration and Citizenship, the Hon Chris Bowen MP, has announced the introduction of a new  Points Test for General Skilled Migration for implementation from 1 July 2011. This new Test will apply to anyone applying for a General Skilled Migration visa from 1 July 2011, subject to the [...]]]> 11 November 2010

The Minister for Immigration and Citizenship, the Hon Chris Bowen MP, has announced the introduction of a new  Points Test for General Skilled Migration for implementation from 1 July 2011. This new Test will apply to anyone applying for a General Skilled Migration visa from 1 July 2011, subject to the legislation being passed through Parliament.

For more information about the new Points Test structure please contact one of our experienced Registered Migration Agents.

Telephone: +61 8 8223 5088

Contact us for more information

To enquire about our services in Vientiane, please contact Catherine Follett:

Vientiane Office
Unit 8, Level 3
33 Lane Xang Avenue
[...]]]> In 2009, McDonald Steed McGrath has opened an office in Vientiane, in the Lao People’s Democratic Republic (‘Laos’) to promote its services in Laos and the wider South-east Asian region.

To enquire about our services in Vientiane, please contact Catherine Follett:

Vientiane Office
Unit 8, Level 3
33 Lane Xang Avenue
Vientiane, Lao PDR

www.mcdonaldsteed.la