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Memorandum Of Understanding Shareholders Agreement

Memorandum Of Understanding Shareholders Agreement Template for Canada

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Key Requirements PROMPT example:

Memorandum Of Understanding Shareholders Agreement

"Need a Memorandum of Understanding Shareholders Agreement for our Canadian tech startup with three co-founders, where two will be active in the business and one will be a silent partner, with provisions for future funding rounds and protection of intellectual property rights."

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Document background
The Memorandum of Understanding Shareholders Agreement is commonly used in Canadian business contexts when shareholders need to establish their basic rights and relationships but may not be ready for a comprehensive shareholders' agreement. This document is particularly valuable during business formation, ownership transitions, or when bringing in new shareholders, providing a framework for future detailed agreements while addressing immediate governance needs. It typically includes provisions for share ownership, transfer restrictions, management rights, and dispute resolution, all within the context of Canadian corporate law. While less formal than a full shareholders' agreement, it creates clear expectations and can be either binding or non-binding depending on the parties' intentions. This type of agreement is especially useful in situations requiring quick implementation or when parties need flexibility for future modifications as the business relationship develops.
Suggested Sections

1. Parties: Identification of all shareholders and the corporation entering into the MOU

2. Background: Context and purpose of the MOU, including current shareholding structure and business objectives

3. Definitions: Key terms used throughout the document

4. Purpose and Scope: Clear statement of the MOU's objectives and its binding/non-binding nature

5. Share Capital Structure: Description of share classes, rights, and current distribution

6. Management and Control: Basic governance structure and decision-making processes

7. Share Transfer Restrictions: Basic principles regarding share transfers, right of first refusal

8. Confidentiality: Protection of confidential information shared between shareholders

9. Dispute Resolution: Basic framework for resolving disagreements between shareholders

10. Term and Termination: Duration of the MOU and circumstances for termination

11. General Provisions: Standard boilerplate clauses including notices, amendments, and governing law

Optional Sections

1. Tag-Along Rights: Include when protecting minority shareholders' ability to join in sale of shares is desired

2. Drag-Along Rights: Include when majority shareholders may need to force minorities to join in a sale

3. Pre-emptive Rights: Include when shareholders should have the right to maintain their proportional ownership in new share issuances

4. Non-Competition and Non-Solicitation: Include when shareholders are actively involved in the business and competitive restrictions are needed

5. Dividend Policy: Include when shareholders want to establish basic principles for profit distribution

6. Dead-Lock Resolution: Include when there are equal shareholders or voting blocks that could result in decision-making impasses

7. Buy-Sell Provisions: Include when shareholders want to establish basic principles for buying out others in specific circumstances

8. Intellectual Property Rights: Include when shareholders contribute IP or when IP protection is crucial to the business

Suggested Schedules

1. Schedule A - Current Shareholding Structure: Detailed breakdown of current share ownership and share classes

2. Schedule B - Reserved Matters: List of decisions requiring special majority or unanimous shareholder approval

3. Schedule C - Valuation Methodology: Agreed methods for share valuation in various circumstances

4. Schedule D - Key Business Terms: Specific commercial terms or business objectives agreed between shareholders

5. Appendix 1 - Corporation Details: Corporate information including registration details, directors, and officers

6. Appendix 2 - Consent Forms: Standard forms for various shareholder approvals and consents

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 and Software

Manufacturing

Professional Services

Real Estate

Healthcare

Retail and Consumer Goods

Financial Services

Media and Entertainment

Energy and Resources

Transportation and Logistics

Biotechnology

Agriculture

Construction

Education Services

Hospitality

Relevant Teams

Legal

Corporate Secretariat

Board of Directors

Executive Leadership

Corporate Governance

Compliance

Finance

Investment Relations

Risk Management

Business Development

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Corporate Lawyer

Legal Counsel

Company Secretary

Board Director

Managing Director

Business Development Manager

Investment Manager

Compliance Officer

Corporate Governance Officer

Shareholder Relations Manager

Business Owner

Entrepreneur

Private Equity Manager

Venture Capital 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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