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Business Shares Agreement

Business Shares Agreement Template for Canada

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Key Requirements PROMPT example:

Business Shares Agreement

"I need a Business Shares Agreement for my tech startup based in Ontario, with provisions for three founding shareholders and two angel investors, including share vesting schedules and special voting rights for the founders."

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Document background
The Business Shares Agreement is a fundamental document for private companies operating in Canada, essential for establishing clear rules and procedures regarding share ownership and transfers. It becomes particularly important when companies have multiple shareholders, are planning for growth, or need to protect various stakeholder interests. This agreement must comply with the Canada Business Corporations Act (CBCA) and relevant provincial legislation, making it crucial for establishing share classes, transfer restrictions, shareholder rights, and governance mechanisms. Typically used during company formation, bringing in new shareholders, or restructuring share ownership, the agreement helps prevent future disputes by clearly defining all parties' rights and obligations.
Suggested Sections

1. Parties: Identification of all parties to the agreement, including the company and all shareholders

2. Background: Context of the agreement, including company details and purpose of the share arrangement

3. Definitions: Defined terms used throughout the agreement

4. Share Capital Structure: Details of authorized and issued share capital, classes of shares, and rights attached

5. Consideration: Price and payment terms for the shares

6. Share Transfer Restrictions: Limitations and procedures for transferring shares

7. Right of First Refusal: Process for existing shareholders to purchase shares before offered to third parties

8. Drag-Along and Tag-Along Rights: Rights of majority shareholders to force sale and minority shareholders to join sale

9. Management and Decision Making: Governance structure and voting rights

10. Representations and Warranties: Statements of fact and promises by all parties

11. Confidentiality: Protection of company and shareholder confidential information

12. Dispute Resolution: Process for resolving disagreements between shareholders

13. Termination: Circumstances and process for terminating the agreement

14. General Provisions: Standard legal clauses including notices, amendments, and governing law

Optional Sections

1. Pre-emptive Rights: Rights of existing shareholders to maintain ownership percentage in new share issuances

2. Share Vesting Provisions: For agreements involving employee shareholders or founders with vesting schedules

3. Non-Competition and Non-Solicitation: Restrictions on shareholders competing with the company or soliciting employees/customers

4. Death and Incapacity: Procedures for handling shares in event of shareholder death or incapacity

5. Mandatory Sell Provisions: Circumstances requiring shareholders to sell their shares

6. Dividend Policy: Framework for determining and distributing dividends

7. Information Rights: Shareholders' rights to company financial and operational information

8. Board Composition: Structure and appointment rights for board of directors

Suggested Schedules

1. Schedule A - Share Capital Table: Detailed breakdown of share ownership, including number and class of shares held by each shareholder

2. Schedule B - Shareholders' Contact Information: Complete contact details for all shareholders and notice requirements

3. Schedule C - Share Transfer Form: Standard form for executing share transfers

4. Schedule D - Deed of Adherence: Form for new shareholders to become bound by the agreement

5. Schedule E - Company Valuation Method: Agreed methodology for valuing shares for transfer purposes

6. Schedule F - Special Rights and Restrictions: Detailed terms of different share classes if applicable

7. Appendix 1 - Company Articles: Copy of or reference to company's articles of incorporation

8. Appendix 2 - Related Agreements: List or copies of other relevant agreements (employment, IP, etc.)

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions












































Clauses
































Relevant Industries

Technology

Manufacturing

Professional Services

Retail

Real Estate

Healthcare

Financial Services

Construction

Media and Entertainment

Agriculture

Energy

Mining

Transportation and Logistics

Education Services

Biotechnology

Relevant Teams

Legal

Finance

Corporate Governance

Executive Leadership

Board of Directors

Compliance

Corporate Affairs

Investment Relations

Corporate Development

Administrative

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Corporate Lawyer

Legal Counsel

Company Secretary

Business Development Director

Investment Manager

Board Member

Managing Director

Compliance Officer

Corporate Governance Manager

Shareholder Relations Manager

Finance Director

Business Owner

Entrepreneur

Corporate Advisory Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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