When you go into business with other stakeholders you should
have a document in place which sets out the legal relationship
between you and the other business owners.
Most company constitutions, unit trust deeds or even partnership
agreements are not suitable and need to be augmented by an
agreement the lays over the top of the generic style company
constitution or unit trust deed.
In each case, you would want to make sure there is in place an
agreement between the shareholders, unit holders or partners set
out in a shareholders' agreement, unitholders' agreement or
partnership agreement which effectively regulates the legal
relationship between the stakeholders.
The main areas that may need to be covered and have a workable
solution include:
