Ep 26: Shareholder Agreements to Protect Your Biz | Business Lawyer Steve Parr

Mind Your Biz Podcast

Problems are unavoidable and can arise at any time, and business owners are no exception, but I'm sure you wouldn't want to deal with disagreements the size of a whale.

Even so, this should not be a daunting task because it only requires you to take the opportunity to address and even clarify issues through shareholder agreements. Not just that, you will also be able to avoid disagreements which makes it easier for you to succeed and improve with only minimal problems along the way.

In this episode of the Mind Your Biz Podcast, we are joined by Steve Parr, Founder of Parr Business Law as he talks about his journey in the law world and discusses straightforward shareholder agreements and why it is important in your business, plus he will talk about the Five D’s of why you should get this agreement.

Take some time to unravel the importance of shareholder agreements by tuning in to this episode and don’t forget to share it with your fellow entrepreneurs!

Highlights:

[01:44] Parr Business Law’s Origin Story

[08:28] Directional Shift: Rental Property Management to Business Law

[10:07] What caused him to create a practice that is flexible?

[13:57] Hiring for Remote Employees

[18:36] What is a Shareholder and Partnership Agreement + How it Differs from one another

[19:50] Consequences to Creating Partnerships

[21:20] The FIVE D’s

[23:55] Who needs a Shareholders’ Agreement?

[25:55] When is the right time to get a shareholders agreement?

[30:35] How can a complimentary professional convince business owner clients to have a shareholders’ agreement?

[34:11] The Barriers Business Owners Face to Get the Shareholders' Agreement Done

[42:22] Rules of Intestacy from Shareholder or Business Partners

[51:20] Costs of a Shareholder’s Agreement

Links:

Website: Parr Business Law

LinkedIn: https://www.linkedin.com/in/steveaparr?originalSubdomain=ca

Twitter: SteveParrVic